Money is tight now as everyone knows it. And, with rising health care costs, it is sometimes complicated to find ways to cut back especially on necessities such as healthcare costs. But, here are five tips for spending less and learning how to save money on medical costs and expenses. How To Save Money On Medical Costs 1. Go Generic With Medication Ask your health care provider if your medications are essential. Are there other alternatives to try out before prescriptions? If it is important to have the drug, ask if there exists a … [Read more...] about Five Painless Tips to Save Money on Medical Costs
People can confuse prequalification vs. preapproval for mortgages when they are applying for a loan. However, there are noted differences. For example, to become prequalified, you must give a loan officer income and debt information to determine the loan amount you can manage. Preapproval, on the other hand, requires more information gathering and checking on the part of the lender. In other words, the lender must compile your credit report data as well as determine your debt to income ratio. Preapproval makes it easier for you to shop for real … [Read more...] about Understanding Prequalification and Preapproval for Mortgages
DRIP is an acronym for a dividend reinvestment plan. This type of investment program is a convenient way to buy stocks in a particular company without the assistance of a broker. Investors may purchase stocks by either: Having the dividends they obtain reinvested to buy more stock; or Purchase shares with minimum optional monthly payments of $25 or $50. Who Should Investing In A DRIP? DRIPs are plans you may want to include in your portfolio for retirement or for long-term savings goals as they offer the investor a number of … [Read more...] about What Is A Dividend Reinvestment Plan?
American Depositary Receipts (ADRs) are stock in foreign companies that are traded in the U.S., just as you would buy and sell stock in America, and are valued in U.S. currency, thereby also paying money in U.S. dollars. American Depositary Receipts represent the acquisition of American Depository Shares, otherwise known as ADSs. Both ADR and ADS are often used interchangeably. What Are American Depositary Receipts? An ADS shows that you own a piece of equity in a company outside the U.S. Therefore, the certificate supplies individuals in … [Read more...] about What Are American Depositary Receipts?
Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. A reader recently wrote in with the following question about his student loans and forgiveness. Is there a way to have my federal Stafford Loan forgiven? There … [Read more...] about What Are Good Federal Stafford Student Loan Forgiveness Programs?
Is your money safe in a bank? This is the next installment of the readers' question series on the blog. Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you … [Read more...] about Reader’s Question – Is My Money Safe In The Bank?
A reader recently wrote in with the following question about healthcare reform. Can you outline how some of the healthcare reform law changes will affect people and business owners? Healthcare reform that has been instituted with regards to the PPACA or Patient Protection and Affordable Care Act will be facilitated over the coming five years. Guidelines, in most cases, will not officially become part of the law until the first of the year in 2014. However, certain mandates will take effect if your healthcare reform and coverage is renewed … [Read more...] about Healthcare Reform And What It Means For You
A reader recently wrote in with the following question about converting a 401k retirement plan to a Roth IRA and the tax consequences. Should you pay for the taxes when converting a 401k retirement plan to a Roth IRA from the proceeds of your plan? The short simple answer is no! You should not pay for your taxes from money that was in your retirement plans during a Roth conversion. Taxes On Your Roth Conversion You will have to pay taxes when you convert a 401k retirement plan to a Roth IRA. If you use money that was once in your 401k … [Read more...] about Should You Pay Taxes For Your Roth Conversion From Investments?