Best credit cards for streaming services

Catching your favorite show or movie via streaming service is commonplace in this day and age – especially during the COVID-19 pandemic – and doing so using a smart device other than a standard computer has gained popularity in recent years.

In fact, 2020 data out of the Leichtman Research Group found that 80% of T.V.-owning households in the U.S. have at least one internet-connected T.V. device – from streaming devices like the Roku Streaming Stick to video game consoles like Nintendo Switch to standard smart T.V.s. And with the uptick in internet-connected T.V. devices, one can assume the popularity of streaming services (coupled with Americans’ ever-heightening presence online) may have something to do with it.

As the popularity of streaming services grows, U.S. households are increasingly cutting the cord with cable

Research published as recently as this year by the Leichtman Research Group indicates that “82% of U.S. households have at least one streaming video service” from 11 of the top direct-to-consumer and subscription-based video-on-demand services – a slight increase from its 2019 findings.

At the same time, numerical estimates from eMarketer forecast that an additional 6.6 million U.S. households will “cut the cord” with cable T.V. subscriptions in 2021, bringing the projected total number of U.S. cord-cutters to 31.2 million.

Overall, it can be inferred that the COVID-19 pandemic could have something to do with these numbers as Americans look for more ways to stay entertained while under stay-at-home orders.

Got streaming subscriptions? A rewards card can help

If you happen to be juggling streaming service subscriptions for personal use – or even to stream calming tunes at your small business or within your (virtual) second-grade classroom, for example – odds are you’re spending a decent amount on these services per month. And while financial tools like a rewards credit card can be helpful, streaming services probably aren’t the first bonus category you check for when scoping out the most “rewarding” card options.

Since these purchases likely make up less of your budget, it makes sense that they won’t be your first priority. Thankfully, though, many great rewards and cash back credit cards now include streaming service bonuses in addition to their ongoing rewards and perks. Here’s a quick look at some of our favorite cards that reward streaming.

Wells Fargo Propel American Express® card*: Best for earning rewards on streaming with no annual fee

  • Blue Cash Preferred® Card from American Express: Best for earning rewards on streaming with an ongoing annual fee
  • Discover it® Cash Back: Best for rotating category enthusiasts
  • Amazon Prime Rewards Visa Signature card: Best for Amazon Prime loyalists
  • U.S. Bank Altitude Go Card: Best for everyday spending
  • U.S. Bank Altitude Connect Card: Best for streaming credit
  • Capital One Savor Cash Rewards Credit Card*: Best for dinner and a movie
  • Best for earning rewards on streaming (no annual fee): Wells Fargo Propel

    For cardholders who prefer a rewards card with no annual fee, the Wells Fargo Propel American Express card is a great option. It offers 3X points per dollar on dining, travel and transit, gas station purchases and select streaming services. Cardholders also earn 1X point per dollar on other purchases. Based on the average person’s spending habits, we estimate this card offers an average rewards rate of 1.78 points per dollar, one of the highest rates you can find on a card with no annual fee.

    Wells Fargo Propel American Express® card*

    Wells Fargo Propel American Express® card

    Why should you get this card?

    The Wells Fargo Propel card is one of the best no-annual-fee travel cards on the market, thanks to its 3X point bonus.

    Read full review

    Other things to know:

    • 3X points per dollar on dining, travel and transit, gas station purchases and select streaming services; 1X point per dollar on other purchases
    • 20,000 points if you spend $1,000 in first 3 months
    • $0 annual fee
    • No foreign transaction fee

    If you were to spend $29 a month on streaming services, you’d earn 1,044 points annually with this card. That’s just over $10 a year in cash back from streaming purchases.

    Streaming services eligible for bonus rewards on Wells Fargo Propel

    This card’s video streaming service category includes a number of popular providers. Eligible partners include Netflix, Hulu, Amazon Prime, Disney+, HBO Now and more. You can also earn rewards on eligible music streaming services, including Apple Music, Spotify Premium and Pandora. With so many providers included, it’s easy to rack up points on your subscriptions.

    Other card perks to consider

    Beyond offering a good rate on streaming services, the Wells Fargo Propel comes with several other perks that make it a valuable option. New cardholders can enjoy a generous sign-up bonus of 20,000 points for spending $1,000 in the first three months. Plus, the Propel card’s bonus categories are particularly valuable for frequent travelers, as they include gas stations, transit, travel and dining purchases.

    Best for earning rewards on streaming (with an ongoing annual fee): Blue Cash Preferred

    The Blue Cash Preferred Card from American Express is a great choice for cardholders looking to earn cash back on streaming service purchases, and the card’s terrific ongoing rewards rate should make it easy to offset the $95 annual fee after the first year.

    You’ll earn 6% cash back on U.S. supermarket purchases (for up to $6,000 per year in purchases, then 1%), 6% cash back on select U.S. streaming subscriptions, 3% on transit and U.S. gas station purchases, and 1% on general purchases.

    Blue Cash Preferred® Card from American Express

    Blue Cash Preferred® Card from American Express

    Why should you get this card?

    The Blue Cash Preferred card helps take the sting out of long commutes by offering a generous point bonus on U.S. gas station spending, and it offers one of the highest cash back bonuses you can get when you use your card at U.S. supermarkets.

    Read full review

    Other things to know:

    • 6% cash back on select U.S. streaming subscriptions, 6% cash back at U.S. supermarkets (up to $6,000 in purchases per year, then 1%), 3% cash back at U.S. gas stations and on transit purchases and 1% cash back on other purchases
    • $150 statement credit if you spend $3,000 in first 6 months
    • 20% back on Amazon.com purchases in first 6 months, up to $200 back
    • Free ShopRunner membership
    • $95 annual fee is waived the first year
    • Terms apply

    The 6% cash back on streaming services is the most generous bonus on this category currently available among rewards cards – especially since there is no cap on how much you can earn. If, like the average person, you pay about $29 each month on various services, you can earn more than $20 a year in cash back on those purchases alone.

    Streaming services eligible for cash back on Blue Cash Preferred

    The Blue Cash Preferred card also boasts a robust list of eligible streaming services, including popular options like Apple TV+, Netflix, Hulu, SlingTV, Spotify and Disney+, as well as HBO Max.

    Keep in mind, however, that according to Amex, “If your subscription is bundled with another product or service or billed by a third party (such as a digital platform, a cable, telecommunications, or internet provider or a car manufacturer), your purchase may not be eligible.”

    In other words, if you have an add-on subscription to a service like HBO included as part of your cable service, you won’t earn bonus rewards even if you pay that bill with the Blue Cash Preferred.

    Other card perks to consider

    On top of the highest rate of cash back currently available for streaming services, the Blue Cash Preferred offers a top-tier rate on U.S. supermarket purchases (6% on up to $6,000 in purchases a year, then 1%). If you spend a lot on groceries each month, this card is one of the most rewarding options available. Even with the $6,000 per year spend cap, you can rack up quite a bit of cash back.

    Best for rotating category enthusiasts: Discover it Cash Back

    If you enjoy tracking quarterly rotating categories for higher cash back rates, the Discover it Cash Back might be your card of choice. The Discover it Cash Back publishes its quarterly rotating categories ahead of time.

    In 2021, the Spring (April to June, activate starting March 1, 2021) categories include select streaming services. During the Spring quarter, if activated, you can earn 5% cash back on up to $1,500 in purchases per quarter in the bonus categories, then 1% after that. If you miss the Spring bonus quarter this year, keep an eye out to see if it’s offered again next year.

    Discover it® Cash Back

    Discover it® Cash Back

    Why should you get this card?

    The Discover it® Cash Back offers rotating quarterly rewards category, plus no annual fee.

    Read full review

    Other things to know:

    • Enroll every quarter to earn 5% cash back on up to $1,500 in purchases in various categories throughout the year
    • 1% cash back on general purchases
    • $0 annual fee

    Streaming services eligible for cash back on Discover it Cash Back

    The following streaming services are eligible in this category: Apple Music and Apple TV+, YouTube TV, Spotify, Disney+, HBO Max, AT&T TV Now, HBO Max, Hulu, Netflix, Pandora, BET+, CBS All Access, DAZN, ESPN+, Fubo TV, Google Play Movies & TV, Philo, Peacock TV, Showtime, Sirius XM, Starz, Sling and Vudu.

    Note that if your subscription is bundled with another product or service billed by a third party, it may not be eligible in this category. The same goes for add-ons on select streaming services if they aren’t on the list of eligible services.

    Other card perks to consider

    The Discover it Cash Back card offers other great perks, including a sign-up bonus that matches your cash back at the end of your first year of card membership. In addition, it comes with a $0 annual fee and multiple easy options for how you can redeem your rewards.

    Best for Amazon Prime Video loyalists: Amazon Prime Rewards card

    The Amazon Prime Rewards Visa Signature card is designed with Amazon fans in mind, making it one of the best options if your streaming service of choice is Amazon Prime Video. The card earns 5% cash back on Amazon.com and Whole Foods purchases (including your Amazon Prime membership), 2% cash back on restaurant, gas station and drugstore purchases, and 1% cash back on everything else. In order to qualify for the card, an Amazon Prime membership is required – but the card’s 5% rewards rate can help offset the fee.

    Amazon Prime Rewards Visa Signature card

    Amazon Prime Rewards Visa Signature Card

    Why should you get this card?

    The Amazon Prime Rewards Visa Signature card offers a great 5% rate on Amazon and Whole Foods purchases.

    Read full review

    Other things to know:

    • 5% cash back on Amazon and Whole Foods purchases, 2% back on restaurant, gas station and drugstore purchases. and 1% back on other purchases
    • $70 Amazon gift card when you sign up
    • No foreign transaction fees

    Streaming services eligible for cash back on Amazon Prime Rewards Visa Signature

    While Amazon Prime is technically the only streaming platform eligible for rewards, the Amazon Prime Rewards card should prove surprisingly flexible if you want to juggle multiple subscriptions. In addition to your Prime membership (which includes Prime Video and Amazon Music), you’ll earn 5% back on all Prime Video rentals and purchases, as well as on any subscriptions you add to your membership through Amazon Prime Video Channels.

    With Amazon Prime Video Channels, you can choose from more than 100 add-on video subscriptions, including premium channels like HBO and niche channels like PBS Masterpiece. Here is a brief selection of Prime Video Channels, all of which earn 5% back when added to your Prime Video account:

    • Acorn TV
    • BET+
    • BritBox
    • Cheddar
    • Cinemax
    • Epix
    • Hallmark Movies Now
    • HBO
    • Lifetime Movie Club
    • MLB.TV
    • NBA League Pass
    • Paramount+
    • PBS Masterpiece
    • PBS Kids
    • Showtime
    • Starz
    • Shudder
    • Sundance Now

    To earn rewards on these add-on subscriptions and any video rentals or purchases, be sure your Amazon Prime Rewards card is set as your default payment method for Prime Video. You can adjust this setting in the “Your Payments” section of your account, under “Settings” – or change your payment method for Prime Video Channels in the “Manage Your Prime Video Channels” section of your account.

    Other card perks to consider

    The Amazon Prime Visa also makes a great grocery card for users who live near a Whole Foods location. The 5% cash back you earn on these purchases is one of the best grocery rates available. Additionally, you’ll get a $70 Amazon gift card just for signing up. While this is not the highest sign-up bonus available among rewards cards, it doesn’t require you to meet any spend requirement, and you’ll be able to take advantage of the perk immediately.

    Best for everyday spending: U.S. Bank Altitude Go Card

    If you want to earn rewards on an array of everyday expenses, including streaming services, the U.S. Bank Altitude Go Card is a terrific option without paying an annual fee. Along with the 4X points per dollar you’ll earn on takeout, dining and food delivery purchases, you’ll earn 2X points per dollar at grocery stores, grocery delivery, gas stations and streaming services, then 1X point per dollar on all other eligible purchases.

    U.S. Bank Altitude Go Card

    Amazon Prime Rewards Visa Signature Card

    Why should you get this card?

    It charges no annual fee, offers an impressive rewards rate on a variety of everyday purchases and comes with the added perk of an annual streaming credit.

    Read full review

    Other things to know:

    • 4X points per dollar on dining, 2X points per dollar on grocery store, gas station and streaming service purchases, then 1X point per dollar on other purchases
    • 20,000-point bonus when you spend $1,000 in first 90 days
    • Includes an introductory APR on balance transfers and new purchases
    • No annual fee

    On top of its ongoing rewards on streaming service purchases, the card offers a unique annual streaming credit: When you make 11 consecutive calendar month eligible streaming service purchases, you’ll receive a $15 credit (automatic statement credit will be applied within two statement billing cycles following the eleventh month; you are eligible for this credit once per 12-month period).

    Streaming services eligible for bonus rewards and credit on U.S. Bank Altitude Go Card

    While U.S. Bank does not offer a full list of eligible streaming services, it’s safe to assume based on how merchant category codes are typically assigned that services like Amazon Music, Apple Music, AT&T TV Now, Disney+, Google Music, Hulu, Netflix, Pandora, SiriusXM, Slacker Radio, Sling TV, Spotify, Tidal, Vudu, YouTube Music and YouTube TV are included.

    Other card perks to considerinstant card number on approval. As soon as you’re approved, you can load your card number into your favorite mobile wallet and start earning rewards instead of waiting for it in the mail. You can also use the card to pay off a transferred balance or finance new purchases – a major plus considering how difficult balance transfer offers can be to come by.

    students with a limited credit history can also enjoy streaming service perks with the Journey Student Rewards from Capital One. You can earn up to $60 in streaming service credits: $5 per month for 12 months on select subscriptions when you pay on time. Some exclusions apply, but popular services like Prime Video, Disney+ and Netflix are included.

    Best for streaming credit: U.S. Bank Altitude Connect Card

    The streaming service earning on the newly launched U.S. Bank Altitude Connect Card is pay, but it makes up for it with a slightly higher credit of $30 for annual streaming service purchases. Plus, you can still rack up plenty of rewards with the card’s 4X rate on gas and travel, 2X on groceries (including grocery delivery), dining and streaming services and 1X on everything else.

    U.S. Bank Altitude® Connect Visa Signature®

    U.S. Bank Altitude Connect card

    Why should you get this card?

    The new U.S. Bank Altitude Connect offers a leading rewards rate on gas and travel, and its TSA Precheck/Global Entry application fee credit can help offset the annual fee.

    Other things to know:

    • 4 points per dollar on travel and at gas stations
    • 2 points per dollar at grocery stores and on grocery delivery, dining and streaming services
    • 1 point per dollar on all other purchases
    • 50,000 points when you spend $3,000 in the first 120 days
    • $95 annual fee (waived the first year)
    • $30 credit for annual streaming service purchases such as Netflix and Spotify
    • Receive up to $100 in statement credits for reimbursement toward your TSA Precheck or Global Entry application fee once every four years.
    • No foreign transaction fees

    While the card does offer 2X ongoing rewards on streaming service purchases, the annual streaming credit offers the real value. Like with the Altitude Go Card, you just need to make 11 consecutive calendar month eligible streaming service purchases, and then you’ll receive a $30 statement credit.

    Streaming services eligible for bonus rewards and credit on U.S. Bank Altitude Connect Card

    There is not a full list of eligible streaming services publicly available, but services like Amazon Music, Netflix, Pandora and YouTube TV are said to qualify.

    Other card perks to consider

    In addition to its high earning rate on travel and gas purchases, the U.S. Bank Altitude Connect card comes with a statement credit of up to $100 to cover your TSA Precheck or Global Entry application fee. Since the annual fee on this card is only $95 (waived in the first year), you can easily offset the cost on the years you use this credit. (Note, membership to these programs last five years.)

    Best for dinner and a movie: Capital One Savor Cash Rewards Credit Card

    The Capital One Savor Cash Rewards card has long been a favorite for foodies, thanks to its generous earning rate on both dining and grocery store purchases. But this fan-favorite recently got an upgrade – and with it a new, enhanced rate on streaming service purchases.

    Capital One Savor Cash Rewards Credit Card

    Why should you get this card?

    The Capital One Savor card offers one of the best cash back rates on dining and entertainment purchases combined.

    Read full review

    Other things to know:

    • 8% cash back on tickets at Vivid Seats through January 2023
    • 4% cash back on dining, entertainment and streaming services
    • 3% cash back at grocery stores
    • 1% cash back on other purchases
    • $300 if you spend $3,000 in the first 3 months
    • $95 annual fee

    Streaming services eligible for bonus rewards and credit on Capital One Savor Cash Rewards Credit Card

    There is not a full list of eligible streaming services publicly available, but services like Hulu, Disney+ and Netflix are said to qualify.

    Other card perks to consider

    The Savor card also recently enhanced its earning rate on grocery store purchases, making it more valuable for those who prefer eating in to dining out. So whether you’d rather order takeout (earning 4% cash back) or stock up for cooking your own meal (3% cash back), the Savor will reward you for your next movie night.

    Final thoughts

    While streaming services like Netflix, Amazon Prime, YouTube TV or Tidal might not make up the biggest part of your monthly budget, you can still bring in great rewards on your membership fees by choosing the right rewards card. Whether you prefer a dining, grocery or travel card, you can combine rewards on various purchases with a streaming bonus to maximize points or cash back.

    *All information about the Wells Fargo Propel American Express card and Capital One Savor Cash Rewards card has been collected independently by CreditCards.com and has not been reviewed by the issuer.

    Source: creditcards.com

    Most popular homes and their neighborhoods of July 2019

    Summer is underway, and home buyers are dreaming big. Our most-viewed properties in July include several stunning homes that are asking eight or nine figures. But even the most palatial estate needs a top-quality neighborhood to seal the deal. So we took a look at July’s most popular homes to get the rundown on the neighborhood with an assist from What Locals Say, our guide to residents’ insights on their own communities.

    Enjoy browsing these big summer dreams—and the very reasonable buys mixed in here, too.

    Flatiron District, New York

    $98,000,000

    Flatiron District penthouse for sale in New York City on Trulia
    How many fireplaces can fit in one home? This place tests the limits. See more photos here.

    Named for one of New York City‘s early skyscrapers, the Flatiron District in Manhattan is home to lots of publishers and ad agencies and is also part of the city’s “Silicon Alley” tech business district. Major attractions range from the popular Italian food hall Eataly to Teddy Roosevelt’s birthplace. But despite the bustle, the Flatiron District is also an in-demand residential area, as notable residents like Chelsea Clinton can testify. What Locals Say users describe the neighborhood is just an all-around nice place. “There are parks and schools in the immediate area as well as plenty of fun stores and galleries and movie theaters,” one resident says.1

    Available now in the Flatiron District, this extravagant penthouse suite is 19,000 square feet. With 11 bedrooms, 14 bathrooms, and truly grand views of the city from its 4,500 square feet of terrace, NYC living doesn’t get much more luxurious than this.


    Hearthstone, Yonkers

    $399,000

    Wood beams on the ceiling are always a plus. See more photos here.

    One resident of Yonkers’ Hearthstone neighborhood describes the place as “centrally located to all”—including Yonkers itself and the Big Apple, just 45 minutes away by train.2 Neighborhood restaurants are wildly diverse, featuring Filipino, Korean, Mexican, and Italian cuisines. Residents also enjoy a variety of local groceries, including the fish market and restaurant at Highridge Fishery Seafood, described by one Yelp reviewer as “Yonkers’ best-kept secret.” If you’re seeking entertainment, the Alamo Drafthouse is an upscale movie theater, and for the outdoorsy, nearby Sprain Ridge Park has 278 acres of natural beauty to explore.

    Available now in Hearthstone, this charming Cape Cod is the epitome of cozy living. It packs a lot into its small footprint, including three bedrooms, a bathroom, plenty of storage space, and a finished basement. We also love the little deck for summertime relaxation.


    Bel Air, Los Angeles

    $195,000,000

    The hedge maze will make you feel like you’re in a Jane Austen novel. See more photos here.

    Bel Air is the stuff of pop-culture legend, thanks to the TV shows set or shot there and the stars, from Jennifer Aniston to Alfred Hitchcock, who’ve called it home. But if you look beyond the big names, big houses, and big reputation, you’ll find neighbors who enjoy a quiet area with abundant natural beauty. “We are surrounded by nature: trees, flowers, birds, butterflies,” says one resident on What Locals Say.3 Right in the neighborhood, Getty View Park is an ideal place to enjoy some of that beauty (and take in a great view of L.A.). And, as you would expect, there’s chic dining and shopping in the area if you don’t feel like venturing out into the rest of L.A.

    Available now in Bel Air is the 10-acre Chartwell estate. All told, the property has 11 bedrooms and 18 bathrooms, as well as a 40-vehicle car gallery and a 12,000-bottle wine cellar. And the gardens and L.A. views are downright magical.


    Beverly Glen, Los Angeles

    $150,000,000

    A barber chair comes in the bathroom, but it’s BYO barber. See more photos here.

    One resident of L.A.‘s Beverly Glen neighborhood describes it as, “Beautiful, quiet and unique. Feels far away from the city but is close to everything.”4 The small community is tucked between two of the area’s most prestigious neighborhoods, Beverly Hills and Hollywood Hills, and also has easy access to Westwood and Hollywood. Despite its exclusive address, Beverly Glen has a very close-knit community feel. There’s little retail in the area, but Glen Market is a beloved local grocery. And neighbors look forward to annual community events like the Garden Walk and Glen Fair, with music, dancing, food, and kids’ activities.

    Available now in Beverly Glen, this luxury home is ideal for anyone who loves soaking up the sun and 270-degree views of L.A. And its 38,000-square-foot interior is worth a peek too, with gorgeously designed spaces including—get this—a candy room, a movie theater, and three gourmet kitchens.


    Soundview, The Bronx

    $649,999

    Peek inside to see the reading nook under a window. See more photos here.

    Just north of the confluence of the Bronx and East rivers, Soundview is a working-class community with culture to spare. According to AM New York, “Bronx residents frequent Soundview for two things: Food and music.” It’s easy to see why. The local dining scene has Mexican, Caribbean, and Spanish restaurants—although a single cuisine isn’t enough for local institution Joe’s Place, which proudly “offers three distinct dining atmospheres” under the same roof. Joe’s is also a neighborhood music venue, as is Soundview Park, which hosts summer concerts on the waterfront. “Just nice and calm. No drama,” says one local. “I love living in this area.”5

    Available now in Soundview, this two-family home has been well maintained and beautifully renovated. The hardwood floors and stone shower walls lend a contemporary elegance, and the small back deck is a great place to relax outdoors even in the heart of the city.


    Bensonhurst, Brooklyn

    $695,000

    A leaded glass door and wrought iron railings? Yes, please. See more photos here.

    The Bensonhurst neighborhood is known as the biggest of Brooklyn‘s multiple “Little Italies” but also as one of the borough’s Chinatowns. The area bustles with sushi bars, innumerable local groceries, nightclubs, and cafes. And with plenty of subway stations in the neighborhood, Manhattan is just 45 minutes away. One lifetime Bensonhurst resident says she’s “seen many changes, but it’s still a safe place to live with great neighbors, shopping, and transportation.”6

    Available now in Bensonhurst, this three-bedroom home has both new and old touches. The detailed iron banister, stained-glass windows, and flagstone patio all seem to hail from different eras—but they all work in this warm and welcoming space.

    July-most-searched-Trulia-Beverly-Glen-1-e3e6fc

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    1 Trulia user, Sept. 2018 “There are parks and schools in the immediate area as well as plenty of fun stores and galleries and movie theaters.”

    2Mike P., Sept. 2018 “Neighbors are very friendly and area area is central located to all. wonderful neighborhood! Very quite, shopping is a mile away and Scarsdale train station is only about 1 1/2 miles away.”

    3Trulia User, 2013 “I love this area ! The people never want to leave. We are surrounded by nature: trees, flowers, birds, butterflies. The public elementary school is one of the top, if not the top, in the city. The neighbors are multi-generational.”

    4 Jenny, Feb. 2019 “Beautiful, quiet and unique. Feels far away from the city but is close to everything. Nice parks. Please do t speed on the blvd, its very dangerous “

    5 Dameen T., June 2019“Just nice and calm No drama I love living in this area Very clean and always busy always see the same faces “

    6 Msgrace46, May, 2018 “I have lived here all my life have seen many changes but it’s still a safe place to live with great neighbors, shopping and transportation “

    The post Most popular homes and their neighborhoods of July 2019 appeared first on Trulia's Blog.

    Source: trulia.com

    The Half Payment Budget Method Explained

    The post The Half Payment Budget Method Explained appeared first on Penny Pinchin' Mom.

    The half payment budget method might be what you need.  If traditional budgets do not work, you really might want to consider this method instead.

     

    half payment budget method

     

    If you do any research, you will find many ways to budget.  However, many times, the options you find do not work for you.  That is why it is important to find the right budget for your needs.  A new one you may not have tried is the the half-payment budget method.

    This system helps many people stop living paycheck to paycheck.  Simply explained, it is where you take your regular, recurring payments and divide them in half.  Each payday, you set aside the necessary money out of each check so that you have the full payment available when it is due.  The half payment is not paid at that time, but rather you hang onto it and pay it on the due date.

    If you are just learning about budgeting, you will want to check out our page — How to Budget. There, you will learn everything you want to know about budgets and budgeting.

    HOW TO USE THE HALF-PAYMENT BUDGET METHOD

    In order to explain this in a simple manner, here is how this system might look for you:

    Monthly income: $2,500 (paid $1,250 every other week)

    Recurring monthly payments (other than utilities):

    Mortgage/Rent: $900
    Vehicle Payments: $450
    Auto insurance: $100

    When you apply the half-payment method, your weekly budget would look something like this:

    Paycheck #1 – $1,250

    Set aside $450 for rent/mortgage
    Set aside $225 for vehicle payments
    Set aside $50 for insurance

    Leaves $525 out of your paycheck for other expenses

    Paycheck #2 – $1,250

    Take $450 from previous paycheck and add $450 and pay $900
    Take $225 from previous paycheck and add $225 and make full $450 payment
    Take $50 from previous paycheck and add $50 to make $100 payment

    Leaves $525 out of your paycheck for other expenses from each check

     

    Now, let’s compare this to the method that many use – to just pay when the bill is due:

    Paycheck #1 – $1,250  

    Rent – $900

    Leaves $350 for all expenses

    Paycheck #2 – $1,250

    Vehicle payments – $450
    Insurance – $100

    Leaves $700 for additional expenses

    If you do the math, you will notice that you still have the same to spend over the course of a month, however, you will see a difference in the amount from each paycheck.  You might show that you have more money left after your 2nd paycheck of the month, but will you really save that?  Most people do not. If they have extra month to spend, they just spend it.

     

    How to Start

    I would not recommend that you jump in and change all of your bills so that they are paid using this method.  That may be too much and you might quit before you even really get started!  Instead, select one bill, such as a car payment, and try using the half payment method for a few months.  Once you see it works, you can transition other bills into this same payment method.

     

    Why it Works

    So, why would you use the half payment method?  For many it works better because you have around the same income to spend out of every check, rather than cutting your spending in half like you see in the second example.  For many, there is always that paycheck that makes spending tough.  When you have to pay a few larger bills all out of one check, it often leaves little to no money left for other purchases.

    By changing to the half method, you are still paying your bills, but you are just earmarking money to pay a bill due later in the month.  You still have the same income.  You still pay your bills on time. However, you have more disposable income every two weeks by doing it in this way.

    What is great about this method is that it works no matter how you are paid.  If you are paid monthly or weekly you might try using a quarter payment method every week (breaking out your check to leave spending weekly).

     

    If you want to learn more about understanding your money attitude, change your spending habits and get out of debt once and for all, check out the Financial Rebook eBook.

    The post The Half Payment Budget Method Explained appeared first on Penny Pinchin' Mom.

    Source: pennypinchinmom.com

    How To Get The Most Out Of Your Auto Insurance Coverage

    Recent data suggests that the average driver will spend close to $100,000 on car insurance over their lifetime. That’s a staggering sum of money, especially when you consider estimates that suggest Americans will pay over $500,000 in that time just to own, operate, and maintain a car.

    $100,000 is a lot of money to spend on something that you may never benefit from, something that you’re only buying because your state authorities told you too. But while car insurance policies are essential, the amount that the average consumer spends on them is not.

    In this guide, we’ll look at the ways you can save money on auto insurance premiums and get the most value out of this necessary expense.

    Build Your Credit Report

    Never underestimate the value of a high credit score and a clean credit report. Not only can it help when applying for a car loan, increasing the value of the car you can purchase and decreasing the interest rates you’re charged, but it will also reduce your car insurance rates.

    There is no easy and quick way to turn a bad credit report into a good credit report, but there are a few simple changes you can make that could increase your score enough to make a difference. These include:

    • Stop applying for new lines of credit.
    • Become an authorized user on a respectable user’s credit card.
    • Increase credit limits on your active credit cards.
    • Pay off as much debt as you can, focusing on credit cards and personal loans first.
    • Don’t close your credit card accounts after clearing them.

    If you don’t have any credit at all, which is true for many teen drivers getting behind the wheel for the first time, try the following options:

    • Credit builder loans
    • Secured credit cards
    • Lending circles

    Choose Your Car Carefully

    A new car is a great way to get a high-tech, customized vehicle, but it’s not ideal if you’re looking to save on insurance costs.

    New vehicles cost more to insure because they are a greater liability, with more expensive parts and greater overall value. If you want to save on your auto insurance coverage, look for a car that is at least a few years old, has a number of safety features and a high safety rating.

    The cheaper, the better, but only to a point. You want something that won’t leave you in complete financial ruin if it’s wrecked in a car accident and you don’t have the insurance to cover it, but something that won’t breakdown every few miles and leave you stranded and broke every other week.

    Drive Safely and Prove Your Worth

    Your driving record is just as important as your credit report, if not more so. The more at-fault accidents, traffic tickets, and insurance claims you have, the higher your car insurance rates will be.

    A single conviction won’t last forever and the impact will eventually dissipate, so even if you have a few blemishes on your record now, just keep driving safely and you’ll be able to reap the benefits before long.

    It takes time to prove your worth to insurance companies, but there are a few things you can do to expedite this process. The first is to take a defensive driving course. In some states and for some demographics (mostly seniors and young drivers), you’ll be offered a discount for completing one of these courses.

    The next step is to consider a usage-based program. These are offered by most major insurance companies and can track your driving habits to determine what kind of driver you are. If you’re driving safe and doing very low mileage, you could start seeing some noticeable changes in just a few months. The majority of providers will even give you a discount just for signing up.

    Pay Everything Upfront

    Most policyholders pay their premiums monthly and it may seem like that’s the best thing to do. $100 a month seems infinitely more manageable than $1,200 a year. 

    It is an attitude that many people have, and it’s one that often leads to debt and poor decisions.

    Millions of Americans have credit card debt because a $200 monthly payment seems more achievable than a $5,000 payoff, even though the former carries a phenomenal interest rate. It’s also why countless first-time buyers rush into getting mortgages with small down payments and high-interest rates, even though doing so could mean they are paying twice as much money over the term.

    Whenever you can benefit from making an upfront payment, do it. This is true for your loan debt and credit card debt, and it’s also true for your car insurance premiums.

    Many insurance providers offer you an upfront payment discount of up to 5%. It doesn’t sound like much, but every little helps. If you have a $3,000 car insurance policy, that 5% adds up to $150. Add a few more discounts and you can save even more money and make an even bigger dent in your insurance rates.

    Combine Policies and Vehicles

    Insurance companies that offer multiple types of insurance tend to offer discounts when you purchase several products from them.

    Known as multi-policy discounts or “bundling”, these offers are common with homeowners insurance and auto insurance, but they are also offered with renters insurance and life insurance.

    You can combine several vehicles onto the same auto insurance policy, as well, saving much more than if you were to purchase separate policies.

    These discounts are essential for multi-car households, but they are not limited to cars. Many insurers will also let you add boats, ATVs, motorcycles, and other vehicles onto the same policy.

    Shop Around

    Before you settle on a single policy, shop around, compare as many car insurance quotes as you can, try multiple different insurance options (uninsured/underinsured motorist coverage, comprehensive coverage, collision coverage) and make sure you’re getting the lowest rates for the best cover.

    Too many drivers make the mistake of going with the same provider their friends or parents have; the same provider they have used for a number of years. In doing so, they could be missing out on huge savings. 

    You could be forgiven for thinking that all providers offer similar rates and that the difference between them is minor. But regardless of your age, gender, and state, the difference between one provider and the next could be up to 200%!

    Check if You’re Covered Elsewhere

    Car insurance companies offer a number of add-ons and optional coverage options. These are enticing, as they cover you for numerous eventualities and some of them cost just a few dollars extra a month. But all of those dollars add up and could result in you paying much more than you need for cover you already have.

    Roadside assistance is a great example of this. It will help you if you are stranded by the side of the road, assisting with services such as tire changes, fuel delivery, towing, and more. But if you have a premium credit card or are a member of an automobile club, you may already have that cover.

    The same goes for rental car coverage, which is often purchased at the rental car counter. Although it has its uses, if you have an auto insurance policy, travel insurance, and a premium credit card, you’re probably already covered. In fact, many Visa credit cards offer this service completely free of charge when you use your Visa to pay the bill, but only if you reject the waivers sold by the rental car company.

    Bottom Line: Best Auto Insurance Companies

    ​Car insurance coverage varies from state to state and provider to provider. There is no “best” company, as even the ones with consistently affordable rates will not be the best option in all states or for all demographics.

    In our research, we found that GEICO was consistently one of the cheapest providers for good drivers, bad credit drivers, and even high risk drivers. GEICO also offers personal injury protection, collision insurance, medical payments, uninsured motorist coverage, and more, making them the most complete provider for the majority of drivers.

    However, in some states, local farm bureaus come out on top, offering very cheap bodily injury liability coverage and property damage liability coverage, and giving policyholders a level of care and attention that they might not find with the bigger, national providers. USAA, which offers cheap car insurance to members of the military, also leads the way in the majority of states, but only for those who meet the criteria.

    Simply put, there is no right insurance provider for you, just like there is no right coverage. That’s why it’s important to shop around, chop and change your coverage options, and don’t assume that any type of coverage or provider is right for you until you’ve looked at the numbers.

     

     

    How To Get The Most Out Of Your Auto Insurance Coverage is a post from Pocket Your Dollars.

    Source: pocketyourdollars.com

    All About Car Loan Amortization

    All About Auto Loan Amortization

    These days, it can take a long time to pay off a car loan. On average, car loans come with terms lasting for more than five years. Paying down a car loan isn’t that different from paying down a mortgage. In both cases, a large percentage of your initial payments go toward paying interest. If you don’t understand why, you might need a crash course on a concept called amortization.

    Find out now: How much house can I afford?

    Car Loan Amortization: The Basics

    Amortization is just a fancy way of saying that you’re in the process of paying back the money you borrowed from your lender. In order to do that, you’re required to make a payment every month by a certain due date. With each payment, your money is split between paying off interest and paying off your principal balance (or the amount that your lender agreed to lend you).

    What you’ll soon discover is that your car payments – at least in the beginning – cover quite a bit of interest. That’s how amortization works. Over time, your lender will use a greater share of your car payments to reduce your principal loan balance (and a smaller percentage to pay for interest) until you’ve completely paid off the vehicle you purchased.

    Not all loans amortize. For example, applying for a credit card is akin to applying for a loan. While your credit card statement will include a minimum payment amount, there’s no date set in advance for when that credit card debt has to be paid off.

    With amortizing loans – like car loans and home loans – you’re expected to make payments on a regular basis according to something called an amortization schedule. Your lender determines in advance when your loan must be paid off, whether that’s in five years or 30 years.

    The Interest on Your Car Loan

    All About Auto Loan Amortization

    Now let’s talk about interest. You’re not going to be able to borrow money to finance a car purchase without paying a fee (interest). But there’s a key difference between simple interest and compound interest.

    When it comes to taking out a loan, simple interest is the amount of money that’s charged on top of your principal. Compound interest, however, accounts for the fee that accrues on top of your principal balance and on any unpaid interest.

    Related Article: How to Make Your First Car Purchase Happen

    As of April 2016, 60-month new car loans have rates that are just above 3%, on average. Rates for used cars with 36-month terms are closer to 4%.

    The majority of car loans have simple interest rates. As a borrower, that’s good news. If your interest doesn’t compound, you won’t have to turn as much money over to your lender. And the sooner you pay off your car loan, the less interest you’ll pay overall. You can also speed up the process of eliminating your debt by making extra car payments (if that’s affordable) and refinancing to a shorter loan term.

    Car Loan Amortization Schedules 

    An amortization schedule is a table that specifies just how much of each loan payment will cover the interest owed and how much will cover the principal balance. If you agreed to pay back the money you borrowed to buy a car in five years, your auto loan amortization schedule will include all 60 payments that you’ll need to make. Beside each payment, you’ll likely see the total amount of paid interest and what’s left of your car loan’s principal balance.

    While the ratio of what’s applied towards interest versus the principal will change as your final payment deadline draws nearer, your car payments will probably stay the same from month to month. To view your amortization schedule, you can use an online calculator that’ll do the math for you. But if you’re feeling ambitious, you can easily make an auto loan amortization schedule by creating an Excel spreadsheet.

    To determine the percentage of your initial car payment that’ll pay for your interest, just multiply the principal balance by the periodic interest rate (your annual interest rate divided by 12). Then you’ll calculate what’s going toward the principal by subtracting the interest amount from the total payment amount.

    For example, if you have a $25,000 five-year car loan with an annual interest rate of 3%, your first payment might be $449. Out of that payment, you’ll pay $62.50 in interest and reduce your principal balance by $386.50 ($449 – $62.50). Now you only have a remaining balance of $24,613.50 to pay off, and you can continue your calculations until you get to the point where you don’t owe your lender anything.

    Related Article: The Best Cities for Electric Cars

    Final Word

    All About Auto Loan Amortization

    Auto loan amortization isn’t nearly as complicated as it might sound. It requires car owners to make regular payments until their loans are paid off. Since lenders aren’t required to hand out auto amortization schedules, it might be a good idea to ask for one or use a calculator before taking out a loan. That way, you’ll know how your lender will break down your payments.

    Update: Have more financial questions? SmartAsset can help. So many people reached out to us looking for tax and long-term financial planning help, we started our own matching service to help you find a financial advisor. The SmartAdvisor matching tool can help you find a person to work with to meet your needs. First you’ll answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to three fiduciaries who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.

    Photo credit: Â©iStock.com/OSORIOartist, ©iStock.com/studio-pure, ©iStock.com/Wavebreakmedia

    The post All About Car Loan Amortization appeared first on SmartAsset Blog.

    Source: smartasset.com

    Budgeting Tips for the Sandwich Generation: How to Care for Kids and Parents

    Everyone knows that raising kids can put a serious squeeze on your budget. Beyond covering day-to-day living expenses, there are all of those extras to consider—sports, after-school activities, braces, a first car. Oh, and don’t forget about college.

    Add caring for elderly parents to the mix, and balancing your financial and family obligations could become even more difficult.

    “It can be an emotional and financial roller coaster, being pushed and pulled in multiple directions at the same time,” says financial life planner and author Michael F. Kay.

    The “sandwich generation”—which describes people that are raising children and taking care of aging parents—is growing as Baby Boomers continue to age.

    According to the Center for Retirement Research at Boston College, 17 percent of adult children serve as caregivers for their parents at some point in their lives. Aside from a time commitment, you may also be committing part of your budget to caregiving expenses like food, medications and doctor’s appointments.

    Budgeting tips for the sandwich generation include communicating with parents.

    When you’re caught in the caregiving crunch, you might be wondering: How do I take care of my parents and kids without going broke?

    The answer lies in how you approach budgeting and saving. These money strategies for the sandwich generation and budgeting tips for the sandwich generation can help you balance your financial and family priorities:

    Communicate with parents

    Quentara Costa, a certified financial planner and founder of investment advisory service POWWOW, LLC, served as caregiver for her father, who was diagnosed with Alzheimer’s disease, while also managing a career and starting a family. That experience taught her two very important budgeting tips for the sandwich generation.

    First, communication is key, and a money strategy for the sandwich generation is to talk with your parents about what they need in terms of care. “It should all start with a frank discussion and plan, preferably prior to any significant health crisis,” Costa says.

    Second, run the numbers so you have a realistic understanding of caregiving costs, including how much parents will cover financially and what you can afford to contribute.

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    17 percent of adult children serve as caregivers for their parents at some point in their lives.

    – The Center for Retirement Research at Boston College

    Involve kids in financial discussions

    While you’re talking over expectations with your parents, take time to do the same with your kids. Caregiving for your parents may be part of the discussion, but these talks can also be an opportunity for you and your children to talk about your family’s bigger financial picture.

    With younger kids, for example, that might involve talking about how an allowance can be earned and used. You could teach kids about money using a savings account and discuss the difference between needs and wants. These lessons can help lay a solid money foundation as they as move into their tween and teen years when discussions might become more complex.

    When figuring out how to budget for the sandwich generation, try including your kids in financial decisions.

    If your teen is on the verge of getting their driver’s license, for example, their expectation might be that you’ll help them buy a car or help with insurance and registration costs. Communicating about who will be contributing to these types of large expenses is a good money strategy for the sandwich generation.

    The same goes for college, which can easily be one of the biggest expenses for parents and important when learning how to budget for the sandwich generation. If your budget as a caregiver can’t also accommodate full college tuition, your kids need to know that early on to help with their educational choices.

    Talking over expectations—yours and theirs—can help you determine which schools are within reach financially, what scholarship or grant options may be available and whether your student is able to contribute to their education costs through work-study or a part-time job.

    Consider the impact of caregiving on your income

    When thinking about how to budget for the sandwich generation, consider that caring for aging parents can directly affect your earning potential if you have to cut back on the number of hours you work. The impact to your income will be more significant if you are the primary caregiver and not leveraging other care options, such as an in-home nurse, senior care facility or help from another adult child.

    Costa says taking time away from work can be difficult if you’re the primary breadwinner or if your family is dual-income dependent. Losing some or all of your income, even temporarily, could make it challenging to meet your everyday expenses.

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    “Very rarely do I recommend putting caregiving ahead of the client’s own cash reserve and retirement.”

    – Quentara Costa, certified financial planner

    When you’re facing a reduced income, how to budget for the sandwich generation is really about getting clear on needs versus wants. Start with a thorough spending review.

    Are there expenses you might be able to reduce or eliminate while you’re providing care? How much do you need to earn each month to maintain your family’s standard of living? Keeping your family’s needs in focus and shaping your budget around them is a money strategy for the sandwich generation that can keep you from overextending yourself financially.

    “Protect your capital from poor decisions made from emotions,” financial life planner Kay says. “It’s too easy when you’re stretched beyond reason to make in-the-heat-of-the-moment decisions that ultimately are not in anyone’s best interest.”

    Keep saving in sight

    One of the most important money strategies for the sandwich generation is continuing to save for short- and long-term financial goals.

    “Very rarely do I recommend putting caregiving ahead of the client’s own cash reserve and retirement,” financial planner Costa says. “While the intention to put others before ourselves is noble, you may actually be pulling the next generation backwards due to your lack of self-planning.”

    Sunny skies are the right time to save for a rainy day.

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    Making regular contributions to your 401(k), an individual retirement account or an IRA CD should still be a priority. Adding to your emergency savings each month—even if you have to reduce the amount you normally save to fit new caregiving expenses into your budget—can help prepare you for unexpected expenses or the occasional cash flow shortfall. Contributing to a 529 college savings plan or a Coverdell ESA is a budgeting tip for the sandwich generation that can help you build a cushion for your children once they’re ready for college life.

    When you are learning how to budget for the sandwich generation, don’t forget about your children’s savings goals. If there’s something specific they want to save for, help them figure out how much they need to save and a timeline for reaching their goal.

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    Ask for help if you need it

    A big part of learning how to budget for the sandwich generation is finding resources you can leverage to help balance your family commitments. In the case of aging parents, there may be state or federal programs that can help with the cost of care.

    Remember to also loop in your siblings or other family members when researching budgeting tips for the sandwich generation. If you have siblings or relatives, engage them in an open discussion about what they can contribute, financially or in terms of caregiving assistance, to your parents. Getting them involved and asking them to share some of the load can help you balance caregiving for parents while still making sure that you and your family’s financial outlook remains bright.

    The post Budgeting Tips for the Sandwich Generation: How to Care for Kids and Parents appeared first on Discover Bank – Banking Topics Blog.

    Source: discover.com

    Guide to Managing Finances for Deploying Service Members

    Life in the military offers some distinct experiences compared to civilian life, and that includes your budget and finances. The pre-deployment process can feel overwhelming, especially when you’re organizing your money and bills. 

    It’s important you provide your family with everything they need to keep you and any dependents comfortable and stable. This means gathering paperwork, making phone calls to service providers, creating new budgets, and organizing your estate. The more you prepare ahead of time, the less you have to worry about the state of your investments and finances when you return home. 

    To help make the process easier, we’ve gathered everything you need to know for deployment finances. Read on or jump to a specific category below:

    Pre-Deployment Needs

    • Review Your Estate
    • Reassign Financial Responsibilities
    • Update Your Services
    • Build a Budget
    • Prepare a Deployment Binder

    Deployment Needs

    • Protect Yourself From Fraud
    • Adjust Your Savings
    • Financial Assistance

    Post-Deployment Needs

    • Update Your Budget
    • Pay Off Debt
    • Review Legal Documents

    Before Your Deployment

    There’s a lot of paperwork and emotions involved in preparing for deployment. Make sure you take plenty of time for yourself and your loved ones, then schedule time to organize your finances for some peace of mind. 
    investments, and dependents. It’s an important conversation to have with your partner and establishes:

    • Power of attorney
    • Living will
    • Last will and testament
    • Long-term care
    • Life insurance
    • Survivor benefits
    • Funeral arrangements

    Anyone with property, wealth, or dependents should have some estate planning basics secured. These documents will protect your wishes and your family in the event you suffer serious injury. There are several military resources to help you prepare your estate:

    • Defense Finance And Accounting Services’ Survivor Benefit Plan and Reserve Component Survivor Benefit Plan
    • Department Of Defense’s Military Funeral Honors Pre-arrangement 
    • Service Member’s Group Life Insurance
    • Veterans Affairs Survivor’s Benefits
    • The Importance Of Estate Planning In The Military
    • Survivor Benefits Calculator

    Servicemembers Civil Relief Act (SCRA) allows you to cancel a housing or auto lease, cancel your phone service, and avoid foreclosure on a home you own without penalties. Additionally, you can reduce your debt interest rates while you’re deployed, giving you a leg up on debt repayment or savings goals. Learn more about the SCRA benefits below:

    • Terminating Your Lease For Deployment
    • SCRA Interest Rate Limits
    • SCRA Benefits And Legal Guidance

     

    Build a Deployment Budget

    Your pay may change during and after deployment, which means it’s time to update your budget. Use a deployment calculator to estimate how your pay will change to get a foundation for your budget. 

    Typically, we recommend you put 50 percent of your pay towards needs, like rent and groceries. If you don’t have anyone relying on your income, then you should consider splitting this chunk of change between your savings accounts and debt. 

    Make sure you continue to deposit at least 20 percent of your pay into savings, too. Send some of this towards an emergency fund, while the rest can go towards your larger savings goals, like buying a house and retirement. 

    Use these resources to help calculate your goals and budgets, as well as planning for your taxes:

    • My Army Benefits Deployment Calculator
    • My Army Benefits Retirement Calculator
    • Mint Budget Calculator
    • IRS Deployed Veteran Tax Extension
    • IRS Military Tax Resources
    • Combat Zone Tax Exclusions

     

    Prepare a Deployment Binder

    Mockup of someone completing the deployment checklist.

    Illustrated button to download our printable depployment binder checklist.

    It’s best to organize and arrange all of your documents, information, and needs into a deployment binder for your family. This will hold copies of your estate planning documents, budget information, and additional contacts and documents. 

    Make copies of your personal documents, like birth certificates, contracts, bank information, and more. You also want to list important contacts like family doctors, your pet’s veterinarian, household contacts, and your power of attorney. 

    Once you have your book ready, give it to your most trusted friend or family member. Again, this point of contact will have a lot of information about you that needs to stay secure. Finish it off with any instructions or to-dos for while you’re gone, and your finances should be secure for your leave. 

    While You’re Deployed

    Though most of your needs are taken care of before you deploy, there are a few things to settle while you’re away from home. 
    Romance and identity scams are especially popular and can cost you thousands. 

    • Social Media Scams To Watch For
    • Romance Scam Red Flags
    • Military Scam Warning Signs

     

    Adjust Your Savings 

    Since you won’t be responsible for as many bills, and you may have reduced debt interest rates, deployment is the perfect time to build your savings.

    While you’re deployed, you may be eligible for the Department of Defense’s Savings Deposit Program (SDP), which offers up to 10 percent interest. This is available to service members deployed to designated combat zones and those receiving hostile fire pay.

    Military and federal government employees are also eligible for the Thrift Savings Plan. This is a supplementary retirement savings to your Civil Service Retirement System plan.

    • Savings Deposit Program
    • Thrift Savings Plan Calculator
    • Civil Service Retirement System
    • Military Saves Resources

     

    Additional Resources for Financial Assistance

    Deployment can be a financially and emotionally difficult time for families of service members. Make sure you and your family have easy access to financial aid in case they find themselves in need. 

    Each individual branch of the military offers its own family and financial resources. You can find additional care through local support systems and national organizations, like Military OneSource and the American Legion. 

    • Family Readiness System
    • Navy-marine Corps Relief Society
    • Air Force Aid Society
    • Army Emergency Relief
    • Coast Guard Mutual Assistance
    • Military Onesource’s Financial Live Chat
    • Find Your Military And Family Support Center
    • Emergency Loans Through Military Heroes Fund Foundation Programs
    • The American Legion Family Support Network

    After You Return Home

    Coming home after deployment may be a rush of emotions. Relief, exhaustion, excitement, and lots of celebration are sure to come with it. There’s a lot to consider with reintegration after deployment, and that includes taking another look at your finances. 

     

    Update Your Budget

    Just like before deployment, you should update your budget to account for your new spending needs and pay. It’s time to reinstate your car insurance, find housing, and plan your monthly grocery budget. 

    After a boost in savings while deployed, you may want to treat yourself to something nice — which is totally okay! The key is to decide what you want for yourself or your family, figure if it’s reasonable while maintaining other savings goals, like your rainy day fund, and limit other frivolous purchases. Now is not the time to go on a spending spree — it’s best to invest this money into education savings, retirement, and other long-term plans.

    In addition to your savings goals, make sure you’re prepared to take care of yours and your family’s health. Prioritize your mental health after deployment and speak with a counselor, join support groups, and prepare for reintegration. Your family and children may also have a hard time adjusting, so consider their needs and seek out resources as well. 
    FTC | NFCC 

    The post Guide to Managing Finances for Deploying Service Members appeared first on MintLife Blog.

    Source: mint.intuit.com

    50 Ideas To Help You Get Out of Debt!

    The post 50 Ideas To Help You Get Out of Debt! appeared first on Penny Pinchin' Mom.

    When it comes to trying to get out of debt, I’ve seen and heard it all.  From the person who gets three jobs to the guy who sold his dream car – just to make it all happen.  It got me to thinking – what are some of the craziest ideas out there to help you find your way out of debt?

    find money to pay off debt

    I decided to make a fun post about the craziest ideas people have tried just to try to get their debts paid off.  The funniest thing is that these really do work!  Who knows?  Maybe one of these will inspire you too!

    If you are struggling  with paying off your debt, these folks may be able to help:
    Call 866-948-5666.

    50 IDEAS TO HELP YOU GET OUT OF DEBT

    SELL ITEMS

    Things are that – just things.  They don’t define us, and they don’t always make us completely happy.  My husband and I sold so many items when we were trying to get out of debt that we were able to raise more than $1,000.  The thing is – I can’t even remember what we sold (which proves that they were things we obviously did not really need).  Here are some unconventional ideas of things you can sell:

    1. Hair.  This may sound bizarre, but people will pay for long hair!  Crafters often use it for making dolls, so they will pay to buy it.  You will need to have at least 10″ or more to sell, and the price will vary greatly. You can visit eBay to learn more and get started.

    2. Toilet paper / paper towel rolls.  Have you been on Pinterest and seen the number of craft projects which require a paper towel or toilet paper tubes?  They are all over the place!

    You can get onto local sites such as Wallapop, Craigslist or even visit eBay and list your products for sale.  It may sound crazy, but it actually can work.

    3. Gift cards.  If you get a gift card for any reason, be it a return or even a gift, you can turn around and sell the card.  You won’t get quite face value for it, but you also can at least get paid cold hard cash.

    They don’t have even to have the full value on them.  For instance, if you had a $100 gift card to your favorite sporting goods store, but you only have used $26.48, you can still sell your card, and another person can use the remaining balance.

    Visit Raise.com to learn more about placing your gift cards up for sale.

    4. Daily Deal vouchers.  Did you buy a deal on LivingSocial and haven’t yet redeemed the voucher, you can sell it.

    5.  Sell things you don’t need.  Use eBay, Craigslist or LetGo to sell the stuff you do not need anymore.  Go through your home and decide what you need and what you could sell to raise some quick funds to pay off your debt!

     

    SIMPLE IDEAS

    These are things that just make sense and most people think about…but you may not have thought of every one of them!

    6.  Budget.  Of course, it seems this should go without saying, but it is not always obvious. If you don’t have a budget, you have no control of your money.  Learn How to Create a Budget.

    7. Coupons.  Start using coupons to save as much as you possibly can at the grocery store.  Then, use the amount you save to pay towards your debt! Read more about How to Use Coupons.

    8. Change where you shop.  If you live near an Aldi, start to buy groceries there.  Skip the clothing store and find consignment stores to find gently used clothes.  Read more about How to Shop at Aldi.

    9. No more dinners out.  This is a tough one, but it works.  Best of all, its not something you will have to give up forever!  Just think, if you spend $100 or more a month dining out that is more than $1,000 to pay towards your debt in just one year!

    If you do have dinner out, skip the soft drinks and go for water instead, which is free!  Make sure you also pass on the appetizers and consider splitting a larger entree to pay less.

    10. Give up your hobbies.  If you are an avid golfer, you might give that up for some time and use the monthly dues to pay towards debt.

    11. Menu plan.  By planning your meals, you not only know what you will have for dinner, but it also helps you plan your shopping trip.  That ensures you have all you need on hand when you get ready to cook all of your meals – saving you from running to the store for that “one item,” which often leads to more.  Read more about How to Create a Menu Plan.

    12. Ask for rate reductions.  Contact your creditors to see if they would lower your interest rate at all. This is not always something that works, but it is definitely worth a few calls to see if it won’t work for you. Learn the tricks to asking for a rate reduction.

    13. Avoid paying monthly fees.  If your bank charges monthly fees, ask them to waive them.  If they will not, consider moving to another one which offers free banking.  Even $5 a month is $60 a year that you are giving to them, just to have your account.

    14. Keep the change.  I always use cash.  I don’t even pay with change.  If the total is $6.42, I hand over $7 and keep the change.  I roll all of this once a year and usually have quite a nice amount saved up.  Best of all – I never miss it!

    15.  Overbudget.  This is a fun way to get extra money.  We may budget $300 for groceries every two weeks, but I will do what I can to keep my shopping way under this amount.  Then, I take anything left over at the end of that two weeks and save it (you could use it towards your debt). It’s a fun way to challenge yourself to see how little you can spend!

    16.  Change insurance.  Make some calls to find out of you can get a better rate on your auto and home (renter’s) insurance.  You can sometimes find a better deal by bundling or even by increasing your deductibles a bit.

    17.  Skip the evening movies.  If you love to visit the movies try the matinee instead!  You can usually pay less by catching the afternoon show. Make sure you pass on the snacks too, as those can add up quickly!

    18.  Don’t buy books.  Instead of buying books, visit the library or get free Kindle books.  No need to buy them at all, when there are ways you can get them for free!  Find out more ways to get free books.

     

    EXTREME IDEAS

    These are ideas which do not work for everyone, but have worked to help others get out of debt very quickly!

    19. Stop retirement contributions.  If you are in debt, you might want to take that 15% you were saving for retirement and throw it all towards your debt.  As soon as you are debt free, you can start that contribution again (and maybe even do more than that to other accounts).

    20. Cancel cable completely. If you really want to go drastic, you need to take all steps necessary to do so.  Cable can run more than $100 (or even more than $150) per month.  If you can cut out cable entirely, you might quickly free up $100 or more every single month!

    21. Sell your car.  If you are leasing a vehicle, that is a simple way to throw money away, as you will never own it.  Turn in the vehicle and then take out a loan to purchase a much older car, where you will pay less per month.  Best of all, you will own it in a few short years!

    If you have an expensive vehicle, you can also sell that and then purchase an older car, which will reduce your monthly overhead (and possibly taxes and insurance).

    22. Move.  If you are renting or even if you own your home, consider downsizing to pay less each month.  I know many people have opted to sell their home and use any income to pay towards debt, and then they rent until they are debt free.  Then, they save to get the house of their dreams, which they can purchase debt free!

    23.  Turn off your home phone.  This can run $30 or more a month.  Just use your cell phone and cancel your home service.

    24. Downgrade your cell phone.  Try to reduce the data you use to see if you can’t lower your monthly payment on your cell phone.  Stick with your home internet for most of your data usage, and you can use your phone less and less and rack up the savings.

    25.  Swap services.  Instead of paying for babysitting, exchange time with another couple.  You watch their kids for free, and they can do the same for you.  You might be able to swap your tutoring for haircuts or your lawn mowing for handyman repairs.

    26.  Make gifts.  Instead of buying people gifts for birthdays and holidays, consider making them yourself.  You could even offer a “service” gift where you will babysit once a month for a year, etc.  Find a way to give from the heart instead.

    27.  Budget bill your utilities.  If you can, arrange for budget billing with your services.  This can make it easier to include your budget and will avoid those swings in the summer or the winter when certain utilities may be more expensive.

    28.  Drop the gym or country club.  If you have a membership of any sort, just cancel it.  If you work out at the gym, try to find free videos you can follow at home or create your own workout plan. If you like to golf, go with a friend instead of paying for your membership.

    29.  No more coffee trips.  Make your coffee at home each morning and cancel that run through the drive-thru.

    30.   Take your lunch.  It is great to go out to lunch every day, but pack your lunch, and you’ll ensure you eat up leftovers.  Not only will you waste less food, but you’ll also save a nice chunk of money every month.

    31.  Carpool.  Take turns driving to work and save money on fuel and also wear and tear on your vehicle.

    32.   Set up no spend months.  This is a tough one, but see if you can go a few weeks without spending anything more than you need to survive.  That means no dining out.  No entertainment.  No clothes.  Just food and fuel and that’s it!

     

    MAKE MONEY

    This is a bit different than working from home.  These ideas help you make a bit more money just doing things you might already do – like search the internet, shop, etc.  These sites will pay you money to do just that.  Then, turn around and apply anything you make towards your savings.

    33. Swagbucks. Use this site to get paid for doing searches and other things you normally do online!  Click HERE to learn more about Swagbucks.

    34. Sell crafts on Etsy. If you are good at crocheting, woodworking or anything at all, look at selling your wares on Etsy. It is a simple platform and the costs are very low, which allows you to keep most of what you make from each sale.

    35. Rent a room in your home.  If you have a walk-out basement, consider renting out the space to make more money.  Just check with your local laws and homeowner’s association to ensure this is allowed before you jump in to start this one.

    36. Sell stocks.  If you have investments, considering selling them and using the proceeds to pay towards your debt.

    37. Give music lessons.  If you know an instrument or you can sing, consider selling your time to help teach others.

    38. Tutor.  Find your expertise and teach others.  You never know who you might be able to help!

    39. Start a blog.  You may not get rich with your blog, but it can turn into a nice stream of income!  Learn more about How to Start a Blog.

    40.  Visit garage sales and upcycle.  Find items very inexpensive at a yard or garage sales.  Put in some elbow grease, paint and creativity and turn them into something you can sell for a profit.  Check out flea markets and farmer’s markets for larger items and for places where you can sell your items.

    41.  Find holiday work.  When the holidays roll around, many stores hire employees for a short 6 – 8 week period.  Sign up and put in some extra time after your regular job and make some extra cash you can use to pay down your debt.

    42.  Become a mystery shopper.  This is a great way to get some things for free.  This is not a way to get rich but is an excellent way to get some of the things you need for free (which allows you more money to pay towards your debt).

    43. Become an eBay master.  Purchase items on clearance or at deep discounts and then sell them for a profit on eBay.   You can still offer prices which are less than in the store, but more than you paid.

    44.  Ask for a raise.  Don’t be afraid to ask for one.  Make sure you share the additional work or responsibilities you’ve taken on as a reason why.  Or, if it has been a while since you last had a raise, you can mention that too.  It never hurts to try.

    45.  Sell an eBook.  If you are an expert in any field, or if you love to write, create a book you can sell on Amazon!

     

    MENTAL

    While there are things that you can physically do to save or to make money, you need to get your brain into the right mindset too.

    46.  Make your goal visible.  If you want to get out of debt so you can afford to save for a vacation, tape a photo of the destination where you see it each day.  It could be on your office wall, bathroom mirror or the refrigerator.

    47.  Learn to be happy with less.  Sure, a new TV might be fun to own. It could be enjoyable to go out to dinner.  However, do you need those things?  Probably not.  Find a way to be happy spending time at home spending no money at all, and you’ll realize how much those things don’t matter.

    48.  Learn to say no.  You may need to tell friends you can’t go out to dinner.  It may mean telling the kids that they can’t get that treat at the grocery store. You may need to say to yourself that you do not need to grab that afternoon latte.  Learning to say no can easily keep more money in your pocket.

    49.  Give more.  This may seem crazy, but it actually works.  When you give more of yourself to others, you feel better.  Best of all, giving is not always financial. It can mean your time or even your prayers.

    50. Surround yourself with the right people. If your friends encourage you to spend money, then you might want to distance yourself from them (at least until you can get better control over your finances and self-control).  Find other people who think like you do so that they can encourage and build you up.

    There you’ve got it.  Fifty ways to help get you out of debt!  Which are you getting ready to try?

    ideas to help find money to pay off debt

    The post 50 Ideas To Help You Get Out of Debt! appeared first on Penny Pinchin' Mom.

    Source: pennypinchinmom.com

    Your Car Insurance Company is Probably Planning to Rip You Off — Unless You Do This

    Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

    Watch out for your wallet! Do you live in one of the five U.S. states where car insurance rates are going up this year?

    According to industry reports, rates are going up this year in Florida, Indiana, Massachusetts, New York and Rhode Island. For example, New York rates are expected to rise by 1.2%, and Indiana’s by 1.1%. Annoying, isn’t it? Here you are, probably driving less than ever, and they want to raise your car insurance premiums.

    They’re ripping you off. The good news? There’s something you can easily do about it.

    A website called Insure.com makes it super easy to compare car insurance prices and make sure you’re not getting ripped off. All you have to do is enter your ZIP code and your age, and it’ll show you your options.

    Are you driving less than 50 miles a day? Do you have zero DUIs on your record? You could qualify for discounts.

    Using Insure.com, people save an average of $540 a year.

    Yup. That could be $500 back in your pocket just for taking a few minutes to look at your options.

    Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He lives in one of these five states, and he’s mad about this.

    This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

    Source: thepennyhoarder.com