Getting Older? 4 Financial Plans You Need to Have in Place

A part of getting older is planning for your retirement. You need to have financial goals to help you get where you want to go. Here are some financial plans that you need to have in place.

Set a Realistic Budget

A budget will allow you to live within your means. You need to take a hard look at where your money is going. Determine if there are any areas that need some work. If you are living paycheck to paycheck, you need to reevaluate your lifestyle choices. 

Retirement will be difficult if you don’t have a nest egg set aside. Figure out how much money you’ll need to have in order to live comfortably. Have a little extra left over in your budget. Set this money aside for any unexpected expenses.

Work Towards Debt Elimination

Debt can be crippling if you don’t have a steady income. You would have more wiggle room in your budget if you didn’t have to pay off your debt. The best way to eliminate debt is to pay more than the minimum each month. 



Consider how much money you are losing just paying the interest. This money could be better spent somewhere else if you were able to eliminate your debt load. Look at creative ways that you can pay off this debt.

Keep Health Insurance in Mind

Many people have health insurance through their employers. Once you retire, this will be an added strain on your budget. Schedule an appointment to talk to a lawyer about medicaid planning. 

They can help you through this process so that you can still have health coverage. As you get older, medical treatment becomes more necessary. Not having insurance can leave you saddled with major medical bills. 

This can quickly eat up any money that you have set aside.

Invest in Retirement

There is still time to start saving for the future. Take advantage if your employer offers a 401k. You have other means of starting a retirement account. Traditional IRA and Roth IRAs are also available. 

These will allow you to put money away for your future. As you get closer to retirement age, you can put more money into these accounts. This will offer you a preview of what it will be like to live on more limited means. Then you can adjust your lifestyle as needed.

You need to create a financial plan in order to prepare for retirement. You may need some assistance in developing your plan. Use the tools that are at your disposal.

How to Know Which Loan is the Best Choice for You

Unfortunately, life doesn't come without the occasional need for extra cash due to an unexpected expense. It may be a leaky pipe that burst while you were at work, high medical bills or an engine that quits on your car. 

Whatever the emergency, you need money now. The good news is that whether your credit is good or poor, there are many ways to acquire the money through different types of loans. 

In some cases, it depends on what you need the money for, for example, college costs for your kids or a remodeling project.

Poor or No Credit

The hardest part of having no established credit or poor credit due to late or missed payments is that your options are limited when it comes to borrowing money. 

It wasn't too long ago that you either had to borrow from your family or pay extremely high-interest rates through payday loans. Luckily, today there are lenders such as MaxLend.com that base their loans primarily on whether or not you have a job, a checking account and are a citizen. 



This makes it easier to take out a short-term loan with monthly repayment terms, allowing you to take care of the unexpected expense.

A Personal Loan

If you have good credit a personal loan from a bank gives you a way to acquire money to take care of your unexpected expense. This type of loan allows you to borrow $10,000, $20,000 or even $40,000 to cover a major repair. 

Since they are unsecured, there is no collateral required so you won't have to put your home or your car in jeopardy. You can acquire it from either a bank or a credit union and the repayment terms work much in the same manner as a mortgage wherein the payments are fixed and the loan is not open-ended, meaning there's an end date.

Student Loans

The stress of coming up with the money to send a child off to college can take away from their achievements. Luckily there are several ways to acquire the money including a private lender or a federal loan like the Stafford or Perkins. 

The government loans are more popular because there is no collateral needed to acquire them. These loans also have lower interest rates and a deferment period of up to 6 months after your child graduates college before you need to begin repaying the loan. 

Plus, if your child attends multiple schools before graduating, you can consolidate them into a single loan. Private lenders offer student loans as well. Unfortunately, they base their approval on your credit history. 

In most cases, they also have a higher interest rate and there is no subsidizing so you can owe money on a loan before your child actually graduates college. While they do offer deferments, they are limited and less likely.

A Home Repair

If you own a home and have equity in it and need a major repair like a total replumbing job or are in need of a new roof, applying for a home equity loan can help you get the money you need. 

This type of loan allows you to use the equity you have available based on the value of your home in the current market. Since the bank uses your home as collateral the criteria are less stringent than acquiring a personal, unsecured loan so even if you have a few blemishes on your credit report, the chances are better that you will get an approval. 

In addition, other advantages are that the interest rates mirror that of a mortgage, you can borrow a larger amount and since it's a home equity loan some of the interest is tax deductible. 

Another big advantage is that you can use the money however you want to without the need for disclosing it to the bank and thus needing their approval.

Life can throw you curves from time to time. Luckily, whether you have excellent credit or poor credit there are many ways to acquire the funds you need to make necessary repairs, acquire the funds for college or pay off expensive medical bills.

4 Ways Moms and Dads Can Save Money on Their Monthly Budget

Budgeting isn’t always simple. It can be especially hard for mothers and fathers who are trying to raise families. Costs for kids can add up rapidly. Parents have to take all sorts of factors into consideration. 

These include meals, recreational activities, entertainment, and school supplies. If you’re a budget-conscious parent who wants to save money each month, take note of these budgeting tips.

Purchase Aftermarket Car Parts

Parents have to take their kids from point A to point B. You may drive your youngster to soccer practice several times a week. You may drive all of your kids to and from school each morning and afternoon. 

That’s the reason car issues are practically inevitable. Parents should always set aside money in their monthly budgets for problems. If your car needs repair service, you can save money by purchasing used car parts instead of OEM (Original Equipment Manufacturer) parts. These replacement parts are usually just as durable as the originals.

Focus on History

History doesn’t always have to repeat itself. If you feel regret any time you think about your recent money use, give your latest bank statement attention. This can give you insight into where all your hard-earned money went. 



It can also help you steer clear of making the same frustrating errors. You may realize that you went to restaurants too often. You may realize that you had too many weekend shopping excursions. History can teach parents invaluable finance lessons.

Become a Warehouse Club Member

Feeding a growing family can cost a pretty penny. That’s why wise parents should always search for ways to minimize their monthly grocery shopping costs. If you want to save big on meals, snacks and more, then you should think about signing up for a warehouse club membership. 

These require initial membership fees, but they generally end up paying for themselves quickly. Bulk purchases can help moms and dogs save mega money.

Steer Clear of Excess

Parents who want to save money should try to steer clear of excess. Do you have an online video streaming subscription you never use? Cancel it. Cutting down here and there can help you reduce your monthly costs dramatically.

Healthy families are all about clear communication. If you want to save money as a family, make sure everyone is in on the plan. Try to make saving money a fun bonding experience for everyone.

5 Money Habits That Will Keep You Out Of Debt

Keeping yourself out of debt is not easy. Saving money might seem like a piece of cake but managing your debts requires a strategy and a workable plan.

You will find lots of things that attract you towards unnecessary expenses like recreational activities, impulse buys etc, and if you don’t have a control over it, then you might end up sliding into debt.

Money is the most important factor that controls our daily deal with the amenities of life. You need an adequate monetary income for your present and some savings for the future.

The main factor that plays a role to have a healthy balance between your monetary flows is money management, which will help to create a handful savings for your future.

Let us have a look at the 5 important finance planning tips that can bring a considerable change in your account balance at the end of the month: 

1. Create a Budget with goals but know your numbers as well!

Creating your own budget is an essential factor that will give you clarity to manage your finances.

So, how to create a budget?

A budget should be created based on your life goals and not numbers. This budget will play a vital role on deciding how much you need to save at the end of the month. Few points to ponder before you create a budget:

• List down your life goals like buying a home or a car, a holiday plan etc. 
• Divide the goals based on priority as: short & long term goals. 
• Set a tentative (or if you the exact) amount with each category you listed in your goals 

Now that you have a budget with a amount set for each category, you will have the exact figures to save on a monthly or yearly basis.

2. The curse of credit card

Sounds a little weird? Many of the credit card holders have lost the peace of their life for the improper handling of credit cards. It is important to spend only the amount which you can pay-off in a month or two. Else, you will end up paying for huge interests.

Dos & Don’ts when it comes to credit cards:

i. Optimize the usage of credit cards: You have to control your shopping habits and the usage of credit cards as well, rather use debit cards for all possible purchases.

ii. Go for cash: Try to use cash for all purchases so that you will have a track of your expenses.

iii. Use when it calls for emergency: Use it when it is utmost necessary but before you swipe your credit card, think if you could pay off the amount within the first month.

iv. Beware of the interest rates: If you keep the amount unpaid for few months, it will destroy your budget with several additional interests and charges on unpaid amounts.

v. Offers & deals: Watch out for the fake deals that might end you up in huge dues. Do not accept offers from every credit service provider and glance through every terms & conditions before you opt for one. There might be hidden clauses on interest rates and the dues which you will not notice and pay for it later.

3. Groceries- Seasonal - Sale

These 3 words are interlinked for sure! When it comes to buying groceries, keep in mind the two important terms:

• Sale or special offers 
• Seasonal veggies & fruits 

Try to grab as much offers and deals as possible. This will help you to save some extra money on your groceries. Go for seasonal fruits & veggies as it is both healthy and less expensive. 

4. Change is good!

Change is actually good but not that easy. You might be adapted towards the way you do things such as your shopping habits and if you are willing to change a few things, then you will see fruitful results. It is important to know in detail about your expenses and savings. This will give you an insight of where you can cut down your expenses and where to save more. 

5. Organize your bill payments

One key step to keep yourself out of debt is to organize your bills. You might be baffled that how can organizing your bill payments help to keep you out of debt. Actually, it does.

Organize your bill payments by listing as – paid, unpaid, to be paid urgently etc. It gives you a workable plan to manage your bill payments and thus keep you out of debts since you would have cleared all dues by following your plan. You can even set a reminder in your cell phone or laptop to clear bills. There is an option of automatic payment which you can opt, for the regular bills.

When you pay your bills on time and you have some savings on a regular basis, it gives you a sense of accomplishment. It all depends on you to manage your finances well to enjoy the positive outcome. Hope you will embrace these 5 money habits and keep a track of your payments & dues to keep yourself out of debt.

James Paul is a personal finance blogger who write at Basic Finance Care covering everything about personal finance management and frugal living.

How to Get the Most Money Out of Your Old Coin Collection

There are many different types of coins out there. If you are a coin collector, there is enough out there to keep you busy with your hobby for a lifetime. However, you may not just be collecting coins for the sake of a hobby. 

You may eventually want to get some money out of them. When you acquire a coin collection, you may not know how to go about selling it to get the most money possible. Here are a couple of tips to get the best deal when selling your unique coins.

1. Take your Time

Like most things, you must take your time when selling your coins to get the best deal. Expect the sale to take anywhere from 45 - 60 days, if not more. 

If you are in too much of a hurry to sell, you will end up losing out on your money. You also want to wait until the right time to sell your coins, and this might mean waiting until some of the most popular auctions in January and late summer. 


The bottom line is that you want to make sure you get the most money out of your coin collection.

2. Get an Appraisal

Before you go to sell your coin collection, you must know what each collection is worth. You will also want to know what each individual coin is worth on their own in case you want to sell the coins individually. 

This way you can know what to expect when buyers come knocking. This also gives you an idea of where to start your pricing to leave room for negotiation. It may cost a small price, but it's worth it to call an appraiser and pay for your coins to be appraised by a professional. 

You should be able to make this money back once you sell the coins anyway. There are a lot of factors that determine the cost of a coin including:

• rarity 
• mintage 
• demand 
• condition 
• melt value 
• full collection 

3. Take your coins to AM Auction

Auctions are one of the most popular ways to sell rare coins. However, they can be somewhat confusing if you're not used to the process. Luckily, you can get help by going to a business like Harlan J. Berk, LTD in Chicago, IL. 

They even offer professional auction representation to get your coin into the most popular auctions, thereby getting the most money possible for your coin collection.

4. Find Complete Sets

Complete sets will always be worth more than just individual coins. This is also true for incomplete sets. If you can complete the collection, it will always be worth more than not. 

Talk to your appraiser about how much more your collection could be with and without the missing pieces to determine if the effort in getting the complete set will be worth it. Then do your research to see if you can find the missing pieces to that collection. 

You also want to make sure they are reasonably priced in order for you to complete it too. If you are planning on turning around and selling your collection, keep in mind that you should be able to make that money back once you are able to sell the set.

Not only can older coins be extremely valuable in certain cases, they can also teach us a lot about history and culture. That is not something you can put a price on at the end of the day. Plus, it's fun to go through the selling process- especially when you make more than intended.

Broke & Broken? How to Afford a Personal Injury Case

Even if your personal injury case seems relatively straightforward, these legal proceedings can become extremely complex in the blink of an eye. 

Many victims accept unfair insurance settlements simply because they believe a civil case will be too expensive or time-consuming. 

Here is a look at a few steps that you can take to make sure that you receive a fair settlement in or out of court.

Understand Your Rights

If you were injured because of someone else’s carelessness or negligence, then you deserve compensation. Depending on where the accident took place, you might receive compensation even if it is determined that you were partially responsible for the accident. 

Spending a little bit of time researching your rights and responsibilities could end up saving you a tremendous amount of time and money later on. You should be able to find free legal resources online, at a local DMV, or at the county courthouse.

Start Keeping Records

Every bit of information that is pertinent to your injury must be saved and kept in a safe location. That data will be invaluable to your legal team as they create an airtight case for the trial or mediation process. 



Your team will need information such as the names of everyone involved, medical bills, your doctor’s diagnosis, a timeline of the injury, and firsthand accounts of the accident. Winning your case is going to be nearly impossible without that information.

Consider Mediation

Mediation is a good option for some people, but there are a few things to consider before accepting a settlement. The at-fault party’s insurance provider and legal team will do everything in their power to pay out as little as possible, and they might offer you a lump sum right away just to avoid a trial. 

Accepting that lump sum will restrict your legal rights in the future, and that is why you should have an attorney by your side during the mediation process.

Take a Look at Contingent Fee Arrangements

Many attorneys, such as Blomberg Benson & Garrett, offer contingent fee arrangements to those who are involved in personal injury cases. With one of these arrangements, the lawyer will not be paid unless they win the case, and that means you won’t have to worry about paying any fees until an agreement has been reached. 

The legal fees are generally taken directly out of the settlement, and the overall percentage is determined before the client hires the attorney.

You should never feel as if your back is against a wall following a serious accident or injury. There are many different ways to receive fair compensation as long as you explore all of your options and spend some time researching your rights.