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12/27/17 Insurance #

Save Money on Insurance this 2018 by Changing Your Family’s Diet

Save Money on Insurance this 2018 by Changing Your Family’s Diet

In the average budget of annual expenditures in the US, Business Insider revealed that food accounts for 12.5 percent or $7,023. The largest spending, which is at $3,008 falls on the dining out category, followed by $726 on miscellaneous food which includes premade meals, snacks, condiments, and vitamin supplements. While the numbers do not indicate if Americans eat out more than they cook at home, it gives a clear picture of how they can make changes and improve their spending on food. Compared to the budget for housing and transportation, food is where Americans can make immediate changes.

On the bright side, a Pew Research Center survey showed 54 percent of Americans agreeing that people pay more attention to eating healthy foods. This is corroborated by the many diet trends emerging today. Veganism and vegetarianism in particular are becoming increasingly popular not just because of their impact on health, but for their environmental-friendly approach.

The health benefits of these diets include weight loss, improved kidney function, and lower sugar levels, among others. Veganism may also be beneficial to children because it lowers the risk of diabetes, aside from providing necessary nutrients. Dr. Neal Barnard explained that weight problems are common in children, and that the problem will only get worse as they reach adulthood. Current findings indicate that one in three kids will develop diabetes at some point in their life.

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10/22/15 Debt , Insurance , Personal Finance # , , , , , ,

25 Worst Financial Mistakes Anyone Can Make

25 Worst Financial Mistakes Anyone Can Make

Anyone can make a mistake. They’re part of everyday life. Financial mistakes, however, can lead to problems for years to come if not corrected soon.

After talking to financial experts and others who have either experienced or seen other people make the worst financial mistakes of their lives, we compiled the following list of 25 of them. Many are common after graduating from college and starting a financial life on your own, but they can still happen to anyone at any age.

We should also note that these worst financial mistakes aren’t listed in any order. We’ll leave measuring their importance to you:

25 Worst Financial Mistakes

 

1. Not going to college

The average starting salary for a high school graduate is about $28,000. That figure almost doubles to $48,127 for college graduates in the class of 2014 with bachelor’s degrees, according to a salary survey by National Association of Colleges and Employers. Starting your working life by being that far behind in pay is one of the worst financial mistakes you can make.

2. Not paying off student loans fast

The average student loan debt for a college graduate is $28,400, according to the Institute for College Access and Success.

For a college grad who is earning some real money after four or more years of living like a student, it can be tempting to spend much of their new income before paying off debt. That’s one of the worst financial mistakes a graduate can make, says Alfred Poor, a college speaker and author of books about problems young people are having in the workplace.

“If college graduates tighten their belts and lower their expectations, and live like they only have the high school diploma, they will rapidly pay off their average $27,000 in student loans,” Poor says. “If they spend their whole salary on a more comfortable lifestyle, they could be struggling to pay off that debt for decades, and end up paying much more in interest.”

3. Paying off student loans too quickly

Paying off student loans quickly can also have a downside, says Steven Fox, a financial planner in San Diego with NextGenFinancialPlanning.com. If they use all of their extra income paying off student loans, they could be in financial trouble if they don’t put some in an emergency fund and lose their job or get in a car accident and have unexpected medical expenses, Fox says.

“They should really think about whether they should pay off their student loans as fast as they possibly can once they get their first job if it means that they’re doing so at the expense of not saving or investing anything,” he says. “Ending up with zero debt is good, but ending up with zero savings is very bad.”

An emergency could lead to borrowing money at a higher rate than what they were paying on student loans, says Fox, who reminds graduates that student loan interest is tax deductible for up to $2,500 for individuals making $80,000 or less without having to itemize. Continue reading

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10/01/15 Insurance , Saving # , ,

Can I Save Money Losing Weight?

Can I Save Money Losing Weight?

Too many visits to my doctor recently have convinced me it’s time to do something about a problem I’ve ignored for years: obesity.

I’m obese — according to BMI and the medical charts at my doctor’s office, and it’s a problem I haven’t wanted to come to terms with until now. Losing weight should help solve a lot of my medical problems, and as a personal finance writer, I’m wondering if losing weight will also help me save money.

My goal is to lose 50 pounds within the next 365 days — or about a pound a week. If I get there, I’ll still be overweight, but at least I won’t be as fat and will have a better starting point to hopefully someday get to a normal weight.

Unfortunately, I’m not alone. Nearly half of U.S. adults are expected to be obese by 2040, according to a report by the Center for Retirement Research at Boston College.

Saving money with weight loss isn’t my ultimate goal, of course, but it gives me a bit more incentive and another angle to write about that readers may learn from.

While I’ve just started this year-long quest, there are some things about trying to lose weight and saving money that I’ve quickly come across, and others that I’ve researched. Here are some ways I hope to save money by losing weight: Continue reading

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08/14/15 Insurance , Saving # , , ,

How I Saved $350 by Finally Shopping for Insurance

How I  Saved $350 by Finally Shopping for Insurance

I’ve been writing about personal finances for years — for this site and others as a freelance writer — and I almost always take my own advice and the advice of experts I’m writing about. But when it comes to shopping for insurance, I’ve gotten lazy.

Almost every other piece of personal finance advice I’ve written about I’ve implemented myself: have an emergency fund, set up a college account for my daughter early, buy value stocks, cooking dinner at home and buying a used car with cash, among other things.

Shopping for insurance is one of the easiest things to do, taking minutes online or a five-minute phone call to an insurance agent. Up until about a month ago, the last time I went shopping for insurance was about a dozen years ago when my wife and I bought a house and needed homeowner’s insurance. Continue reading

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Hi, I'm Aaron Crowe. Welcome to CashSmarter. I'm a personal finance freelance writer who enjoys spending my money wisely and using minimalism to make my money last longer while increasing income.