Credit cards are great.  You swipe them through the convenient little readers at the checkout and you don’t even have to worry about how much you’ve spent – until the bills start rolling in, that is!  Most people get their first credit card right out of high school, and use it with the intention of building a credit history.  Before long though, the purchasing power goes straight to many people’s heads and suddenly there is a few hundred or thousand dollars in credit card debt to deal with.

 As you begin making credit card payments, you might send a few dollars over the minimum payment required.  Then as you charge more and the minimum payment increases, you start sending just the minimum, because it seems to be all you can afford.  Even when you pay the minimum amount before the due date, the credit card interest can cripple you.  Considering that many credit cards are charging 15% or more, you can bet that most (or all) of your minimum payment is only going towards the interest, so despite making a monthly payment your total debt is actually growing larger month after month. Here’s how to end the cycle and get out of credit card debt:

 Stop Spending: First thing you need to do is stop using your credit card(s).  This can be very difficult if you’ve gotten into the habit.  Cut it up into tiny pieces, put it in water and freeze it – do whatever it takes to stop using it. 

Pay Twice a Month: Figure out how much you can afford to send to the credit card company each month, and then schedule your payments so you are paying half the total amount every 14 days.  If you send $120 a month, you send $60 first, followed by $60 in 14 days.  This allows you to make two extra payments per year without really planning it.  The extra payments go towards the principal balance.

Transfer the Balance:  If you are eligible, you should look for a balance transfer offer on a credit card with 0% interest for the life of the balance.  These are harder to come by these days, but great if you can get one.  If not 0% interest, an interest rate that is fixed and lower than the rate you are currently paying can save you hundreds of dollars and make it easier to pay off your bill since more of your monthly payment is going toward the current balance.

If you’ve ever applied for a credit card or have one in your wallet, you’ve probably been asked (more than once!) if you want to purchase credit card disability insurance.  The insurance is typically a few cents per $100 of your card balance, and is supposed to cover your minimum monthly payments in the event you become medically disabled and can’t work.  There is normally a limit of how many months the insurance will make your minimum payment, and if you make purchases on the card after you are disabled, they will not be covered by the insurance plan.

So the question is, does the credit card disability insurance help you or the credit card company?

It is kind of a toss up!  As with all kinds of insurance, you pay for it in the hopes that you will never have to use it.  So you could pay a few dollars a month for as long as you have your credit card account with a balance and never have any reason to use the disability insurance.  Some people consider that a waste of money. 

On the other hand, if you are in an accident or somehow become unable to work due to a disability, you will benefit for a specific period of time as your disability insurance will make the minimum monthly payments on the card while you get back on your feet.  Meanwhile, the card will continue to accrue interest.

The thing to consider is if you have other forms of insurance, including most life insurance policies, or traditional forms of disability policies- you may already be covered.  Also- if you have multiple credit cards that you plan to get disability insurance coverage on each individual card- it may actually be more beneficial to you to get a traditional disability or life insurance policy to cover everything rather than having the multiple policies.

Keep in mind that the credit card company is the beneficiary of a disability insurance plan that you obtain through their insurance providers; where as you can designate whoever you want as your beneficiary of your regular insurance policies.  Which means that if there is any money left over after you credit card was paid, your beneficiaries would get the remaining balance.

If you do decide to get disability insurance for your credit card – make sure you fully understand what is covered and what isn’t.  Most policies have an unemployment coverage option- but if you are self employed or unemployed, that coverage usually doesn’t apply to you and therefore you shouldn’t pay for it.  Always find out before you sign up if you are able to cancel the policy should your circumstances change.

Last year, my front tooth lost a noticeable chunk for what seemed like no reason at all. Over $1,200 later for just one tooth and a fifteen minute procedure, I discovered the culprit was bruxism, what is more commonly known as teeth grinding. People who have this issue often do not even realize it is a problem. They clench their jaws and grind their teeth often in their sleep or during the day without being aware. However, bruxism can be a very expensive problem as it often causes teeth to chip or break off leading to some expensive dental management. Teeth get worn down quickly and other problems with the jaw develop, such as TMJ. Dental procedures are no cheap adventure. Even with insurance, the cost of dental implants, crowns, and the like can become astronomical.

Beyond brushing and flossing, there is much more involved in maintaining healthy teeth and gums. It costs less money to proactively care for your teeth than it does to repair the consequences. A dentist will be able to determine if you suffer from bruxism. Generally, you will be recommended to purchase a mouth guard to protect your teeth from the grinding actions. Mouth guards can be custom created by a dentist or purchased over the counter. However, the guards that can be found at a store are more likely to cause you discomfort as the sizes may not suit your mouth which causes the guard to move out of place. They also do not tend to last as long as a customized piece. While a custom-fitted guard may be more expensive, it is less likely that you will have to replace it as often and it will fit exactly right inside your mouth, providing you with better protection.

Both children and adults are susceptible to teeth grinding. Often, children will outgrow the tendency to grind their teeth. For adults, the cause may be related to stress factors and, along with a mouth guard, patients will be advised to work on reducing the levels of daily life stresses to help decrease the unconscious teeth grinding actions.

If you tend to have headaches and pains in your jaw, you may suffer from bruxism. Schedule an appointment with your dentist as soon as possible and get an evaluation. The cost of a mouth guard will be very small compared to the thousands of dollars you will spend reconstructing what you could have saved in the first place.

Homeowners insurance can seem complicated at first, but armed with a little information, you can understand and appreciate its’ value.  As with any insurance, you purchase it with the hopes that you’ll never need to cash in on it!

Most mortgage lenders require homeowners insurance; and many landlords are requiring their tenants to have some form of insurance, as well.

What Homeowners Insurance Policies Provide

A standard homeowners insurance policy will typically provide coverage for costs that are related to the following:

Interior & Exterior Damages:  if the outside or inside of your home is damaged by fire, lightening, hurricanes or vandalism (as well as other covered disasters) your insurance provider will compensate you enough to repair the house or even completely rebuild it if necessary. Damages caused by floods, earthquakes or from poorly maintaining your home is not usually covered.  These instances may be covered if you purchase additional riders or coverage options.

Damage or complete loss to personal belongings: Things like clothing, appliances and furniture, as well as other contents of your home are covered by homeowners insurance if they’re destroyed in an insured disaster.  Most insurance companies will cover you for 50-70% of the amount of insurance you have on the structure of your home.  This means if you insure the home for $200,000 you would have around $140,000 in insurance coverage for the contents of your home.   Make a list of everything in your home and their approximate values to see if you have enough homeowners insurance coverage.

Personal liability coverage for damage or injuries: If you or a family  member (including your pets!)  causes injury to another person, the insurance will cover those medical costs.  This coverage also provides compensation if someone in your family damages someone elses belongings.
 

Hotel or house rental while repairs are made:  if your house is destroyed, you will find this coverage to be your favorite coverage!  While the home is uninhabitable and being repaired or rebuilt, your homeowners coverage would reimburse you for the amount you pay in house rent or hotels, meals at a restaurant and any other incidental costs incurred due to being unable to stay in your own home.  Policies due impose strict daily limits as well as total limits for the amount of money they’ll provide for this coverage. 

How Much Does Homeowners Insurance Cost?

In 2005, the average homeowners insurance coverage in the United States was around $760, annually.  Premiums will vary based on how much coverage you choose to purchase, where you live, and the amount of liability protection you want to have.

Before choosing an insurance company, as with any insurance, you should do some comparison shopping and decide which company can offer you the best prices for the amount of coverage you wish to have.

People over the age of 65 make up only about 14% of the U.S. Population; but they consume more than a third of the $266 billion or more spent on prescription drugs in a year. Younger retirees, those between the ages of 65 and 69, take about 14 prescriptions per year; while those who are over the age of 80 are averaging 18 prescriptions annually.

Unfortunately, there are not many people who are lucky enough to be retiring from an employer that offers health coverage during the retirement years. Financial planners work with people to determine how much money they’ll need to replace their income during their retirement years – but very few focus on how much money you’ll need to save for your aging medical needs. With drug prices rising annually, and with some of the more commonly prescribed drugs for the older population costing a steep $1,500 per year – it’s easy to see that your medical needs should be taken into consideration in determining your retirement money needs.

Here are 5 ways to reduce your prescription drug costs during retirement:

1.  Buy Generic. You can save up to 80% off the brand name drug prices when you buy the generic version. When a doctor prescribes a medication, always ask whether there is a generic available and request that he or she write your prescription for that one, instead. Often, doctors remember the constant sales pitches they receive from the name brand companies and simply forget there are generics available – so don’t be afraid to ask.

2.  Comparison Shop. As with any other purchases you make, you can often save money simply by comparing the prices at several retailers before making your purchase. Try checking prices at Costco and/or Wal-mart for prescription drugs- they are almost always less expensive than nonchain pharmacies. Some neighborhoods offer a discount pharmacy that offers lower priced medication and caters to people without health insurance. If your own neighborhood does not offer such a service – check for mail-order discount pharmacies.

3.  Split Pills. Higher dosages of many medications cost the same as buying a smaller dosage. Whenever possible, ask the doctor to prescribe a higher dosage strength than you need, and then you can cut the pills in half to get the strength you actually are prescribed. There are pill splitters available for sale at most drug stores that ensure you split the pill evenly and get the prescribed dosage. You’ll get twice as many dosages for the same price.

4.  Shop Online. Drugstore.com is a well known bargain provider of prescription drugs. Just be sure that wherever you buy from has got a solid reputation and that the drugs are reviewed by physicians.

5.  Discount Programs. There are a number of discount prescription health plans that you can pay a membership fee to receive discounts on medication. Medco Health Solutions is one fo the most well-known and respected discounted programs. Visit www.medcorxdiscountprogram.com to get details and see whether or not you can save on your prescription drugs with this discount program.

There are so many consumers who live day to day without health insurance or individual vision insurance. Many can not afford it unless their employers helps to foot the bill. In some cases, people still can not afford the monthly cost, even through their jobs. If you and your family do not qualfy for medical assistance programs and you are without health insurance and individual dental insurance, there are ways to help curb the costs of health care.

An Ounce of Prevention

Maintaining good health is one of the best ways to lower the costs of your healthcare bills. Eating healthy will help keep your immune system strong and prevent you from being overweight, which can lead to major health problems like heart issues and diabetes, which require even more expensive medical care.

Take vitamins and getting a daily dose of exercise to keep from running your immune system into the ground, especially during cold and flu season.

Drink water everyday to keep your system flushed out and prevent the buildup of toxins that can make you feel sick or more susceptible to illnesses.

Wash your hands often throughout the day to keep from spreading and catching the germs of others.

Get fresh air and sunshine throughout the day. Even if you only have a quick lunch hour, take a walk outside. It will help reduce stress and sunshine helps to increase the serotonin in your body, which will help keep you feeling good.

Test Yourself

Perform self-examinations at home. Detecting lumps or other abnormalities in the early stages can significantly reduce the need for extended medical care.

Keep your weight in check and stop by the pharmacy where they usually have free blood pressure machines you can use.

Not Just Any Doctor

Leave the emergency room visits only for emergencies. A trip to the ER should not be a substitute for a doctor visit. If a medical situation arises after your doctor’s hours, opt for a clinic where the costs are more reasonable than an emergency room.

If your physician’s office offers the services of a nurse practitioner, whose rates are lower than a doctor. Confirm this with the office you will be visiting.

Ask and Tell

Tell your doctor the real deal. Many physicians will offer a reduced or discounted rate for patients who do not have insurance. Don’t be afraid to ask for help. Chances are good that many more patients are in the same situation.

If you are being prescribed medication, ask the doctor about the possibilities of getting a generic version and explain that cost and no insurance are an issue for you. Many doctors do not contemplate that aspect when writing prescriptions.

Review Your Bills

Whether you’ve had a stay in the hospital or just a check up at the office, make sure you go over the bill when you receive it. It is possible that staff will make a mistake in billing and you need to be certain you are not paying for services you didn’t receive.

Check for Cheaper Rates

Chances are you can save some money by looking up individual health insurance quotes online. Usually there’a cheaper policy than what you have now if you’re not getting your healthcare from your employer.

It’s a frightening enough thought to know that you could be the victim of a scam artist who steals your social security number and uses it maliciously. Perhaps you could be on the wrong end of a scheme that involves your stolen credit cards. Whatever ways a criminal can find to extort information or money from you, it is important to note they will do whatever it takes and not care much about the red tape and aggravation they leave you to deal with.

Where There is a Will, There is a Way

Even more frightening is the discovery of a new way for a theft to steal your identity. One such way seems unimaginable but yet it happens. There are people who have become victims of criminal acts perpetrated again them and their own personal medical information. It is no longer important to just protect your social security number, it is also necessary to protect your medical insurance number as well. To some this piece of information can be very valuable, yet can hurt both you and your wallet where it counts.

Where Did You Go Wrong?

So, how does such information fall into the wrong hands? Many times the information can be stolen right from your mailbox when you receive statements or announcements from your insurance carrier. Experts have seen a rise of stolen medical insurance information particularly across college campuses, when students share living quarters with other roommates. Sadly, it is more common to have the information stolen from an insider at the medical facilities. The information can then be sold to individuals looking to buy it. Sometimes it is a whole crime ring that is involved who pay people on the “inside” to obtain your medical records. Consider the recent cases of celebrity medical records being sold to tabloid news outlets. The reality is this doesn’t just happen to the rich and famous but to people who honestly need the health insurance coverage.

The Last to Know

Often people do not discover their medical records have been tampered with until they need a medical procedure and are refused insurance coverage. It may also be discovered by consumers who wisely check every statement that comes in the mail. The consequences of someone else using your medical insurance can be great. Some people have been arrested, held responsible for large bills, and have had their credit ruined by collection accounts – all for services they have never received.

How To Cope

It is very difficult to rectify medical identity theft. You can be proactive in making sure your information remains safe by keep a lock on your mailbox and by not sharing your insurance card information with anyone. You may also go a step further and after each doctor visit, request a copy of your medical records as proof for later should you need it. Records will cost you a bit of money but it may be worth it in the end. Because identifying a medical identity theft is difficult, you can generally only hope that the medical providers involved will be willing to help you in your unfortunate situation. Should you find yourself in such a predicament, you should file a police report immediately to help protect you in your fight.

Insurance, whether for a car or your home, is already an expensive monthly cost so it makes sense that you want to do whatever it takes to keep your rates as low as possible. While no one wants to ever have to use their insurance, the purpose of having insurance is to protect you in the event something does happen. However, did you know that certain things that do happen accidentally can cause your insurance rates to go up considerably or even limit your insurance coverage down the road?

There are certain claims against insurance that can indeed raise your premium rates and it is important to understand what some common claims can do to your present and future rates of insurance.

Water Leaks/Mold Issues

If you have a history of filing claims on your insurance for incidents of water damage caused by leaks from plumbing problems and such, you may find it difficult to later sell your home. Potential new buyers’ insurance companies can pull reports that show the history of insurance claims on a piece of property. If there is a repeated report of water damage, insurance companies may not be very inclined to provide coverage on the new home, typically because of the concerns of mold. If a new buyer can not get coverage on the home, it is likely you will find it difficult to sell. Instead of filing a claim for minor damages and problems, learn how to do it yourself and leave your insurance out of it.

Injury from Falls

In the event that a person would trip, slip, or fall down on your property due to a hazardous condition, such as a cracked sidewalk or a hole and the like, they may file a claim against your homeowner’s insurance. Such claims can make your insurance rates rise. For this scenario, it is better to be preventative. Make sure you maintain your property and keep it safe from hazardous areas to prevent people from getting injured. 

Pet Problems

If you have a pet, particularly a dog, you may be surprised to learn that dog bites are the biggest source of homeowner’s insurance policy claims. This has lead to many insurance companies listing breeds of dogs that have been considered mostly likely to attack. If you are an owner of such a dog, considered dangerous by your insurance company, you may be facing higher insurance rates or even a refusal of insurance. If you have a dog on the list, you may be able to work with your insurance company by striking a deal. For example, some insurance providers will provide insurance as long as the dog participates and passes an obedience course.

Check with your insurance company about other areas that may raise your monthly payments and be proactive in making sure you are doing what you can to keep your insurance rates at their lowest.

With the majority of credit card companies raising their rates for card holder’s, you could very well find yourself paying more interest on your card balances than you had originally planned on. The good news is you don’t have to take a higher interest rate as the answer!

In fact, as long as you have decent credit, there is no reason why you should accept an interest rate hike from your credit card company. With the economy the way it is, credit cardholders have been reporting that even though they’ve never made a late payment on their cards their interest rates have been increased or their credit limits lowered. If you receive a notice that your rate has been increased, you should take a moment to call them up and request a lower interest rate. If they say there is nothing they can do, you can thank them for their time and let them know you will be transferring the balance to another credit card with a lower rate.

Chances are, they may come up with something they can do for you once they hear those words! If so, you can decide whether the lower rate from the balance transfer offers are satisfactory to you, or if you want to shop around for lower rates.

When looking for credit cards to transfer your higher interest balances to, you want to keep in mind a few things to ensure you get the best deal, including:

• Make sure the new credit card has a lower annual fee than the one you are looking to replace (preferably pick a credit card without an annual fee)
• Read the terms of the balance transfer offer carefully: how long is the interest rate good for? What will the balance transfer rate change to once that preliminary period is over?
• Find out whether there are balance transfer fees, and how much they are. Sometimes, a card will offer a low interest rate on all balances transferred, but then turn around and charge you 1-3% as a balance transfer fee. You’ll have to play around with the numbers to see if you’re really going to save money over the life of the balance after paying the fee to transfer it.

The best balance transfer offers give you a low fixed interest rate for the life of the transferred balance. That means the rate doesn’t change for however long it takes you to pay off that balance, provided you make your payments on time. If you can’t qualify for that type of balance transfer offer, you should look for offers that give you 0% interest for 12 months, and focus on getting that old debt paid off within that year. If you are able to increase your payments enough to pay off the balance within the 12 month introductory period, you’ll pay back just what you owe and nothing in interest!

At the very least, you could consider balance transfer offers of 6 months interest-free; and if you still have a balance at the end of that term, see about moving the balance to a new credit card with a 0% balance transfer offer; or requesting a better rate from your existing credit card company.

Summer is coming to an end and the heating season, at least here on the East Coast, is not far off.  Along with the need to warm houses and the high costs of heating fuel, there may be a lot more people using alternatives, such as plug-in heaters and kerosene heaters to stay warm. With desperate times call for desperate measures, it is incredibly important for families to brush up on their fire safety tips in order to prevent the devastating loss of property and the invaluable loss of life.

Here are a few reminders of fire safety to keep the upcoming months safe for everyone.

1. Have a Plan – Regardless of how safety conscious you are, things can happen. Perhaps the neighbor’s house catches fire and you are trapped. You can not predict what will happen. It is essential not only to have a plan of escape but to also ensure your entire family understands what it is and how it works. Practice fire drills with every member of the household on a regular basis.

2. Install/Upgrade Smoke Detectors – Many families have smoke detectors installed in their homes. It’s always been a rule of thumb to change batteries during the time changes that occur during daylight savings timelines. However, just because the batteries are new doesn’t mean the contraption works. Perform a monthly test on all of the smoke detectors throughout the home and make sure you have an adequate amount of work detectors in your home.

           Recommendations for Smoke Detector Placement

• Outside each bedroom door, especially in a home with a large upstairs. In the event of a fire, all occupants of the home who are sleeping should be  able to hear the alarm loud and clear.
• At least one alarm on every level of the home, including the basement and  the attic. Again, placement and amount should depend on how well people  can hear the warning.
• For extra protection, install a carbon monoxide detector in the home as well.

3. Install/Upgrade Fire Extinguisher – Fire extinguishers do not last forever. They need to be inspected regularly and recharged if needed by a professional service. Extinguishers should be kept in an area where they are easily accessible and in areas, like the kitchen where it may be needed most often.

4. Check Electrical Systems – Fires around the holiday season are often sparked by overloaded outlets. If you use extension cords or outlet strips, it will be worth the investment to have a professional install new outlets to accommodate your needs. Do not run any cords under the carpeting. If a fuse is prone to blowing out, getting it checked out by an electrician.

5. Careful Smoking – If you must smoke, do it outside and make sure your cigarette is out completely before leaving it. Keep trash out of ashtrays. Never leave a burning cigarette unattended. Keep your lighters and your matches away from children of any age.

6. Candles – Candles are an increasingly popular way to create a pleasant atmosphere in your home. However, a candle left unattended can cause a lot of problems, especially with children in the home. Candles that are burning should be kept out of the way of children and high traffic areas in the home where they can be knocked over onto the floor.

7. Maintain Proper Insurance – In the event something does happen to cause a fire, having the proper insurance and paying the premium on time is important if you expect to fall back on the insurance in the event of an emergency.