On April 1st, I got an unpleasant surprise, and it wasn’t an April Fools joke or gag. I found out that one of our renters didn’t have enough money to pay all of his rent.
Since nothing like this has ever happened before, I was definitely caught off guard. Still, it wasn’t the end of the world. Since I pay all of our mortgages ahead of schedule, waiting a few weeks for payment wasn’t going to affect my bottom line. And after talking with my tenant, I agreed to accept partial rent on the 1st and the rest of the money on the 17th of April.
I usually wouldn’t make such a big exception. However, this particular tenant is a responsible man who treats our property with incredible respect and care, even going as far as fertilizing and edging the lawn. Since he and his wife have lived in my property for four years and never paid late, I was more than willing to break the rules just this once without giving them any grief. No big deal.
But once our tenant left, my usually frugal husband, Greg, had an idea that shocked me. “We should just let him mow our grass this summer and forget about the $400 he owes.” Our renter did work in landscaping, after all, and he had expressed interest in mowing our yard in the past. However, I wasn’t fully sold on the idea.
We aren’t saving extremists by any means, but we’ve always been the kind of people who do everything ourselves. We clean our own house, do our own yard work, and manage our own rental properties. Greg does our taxes and accounting and I even color my own hair. We rarely farm out any of our responsibilities, and we have saved a lot of money by choosing to be self-sufficient. In fact, that is basically how we dug ourselves out of debt. Some of our first steps toward a healthier financial situation included cutting out unnecessary services and becoming more self-reliant. Since adopting a frugal lifestyle is what got us where we are today, I was extremely hesitant to hire out any of our responsibilities. It seemed like a giant failure on our part and I felt like we were taking a step in the wrong direction.
An unsustainable future
Still, trying to do everything ourselves can sometimes take its toll. A few weeks ago, Kristin Wong wrote a post about being a workaholic, and I could definitely relate. Greg and I both work full-time and have various side hustles and freelance writing gigs. We also have two small children that require a lot of energy and care. For the past year, we have easily worked 55-65 hours or more per week, in addition to doing all of our household chores and being parents. It’s been great for our pocketbook, but it has been extremely hard to maintain a high level of productivity at work and keep everything else running smoothly.
Occasionally, something has had to give. And to the likely disdain of our neighbors, that something has usually been our yard. Last year, we were unable to find time to mow on several occasions, and the result was that our home stuck out terribly on our quiet street of beautifully manicured lawns. Whenever that happened, we were stressed out and overwhelmed until we finally found time to get the job done.
Is a reasonable amount of lifestyle inflation okay?
Considering the circumstances, paying someone to mow our grass started to sound amazing. But, would that really be a responsible decision? Or would we just be giving in to the chief sin of frugality: lifestyle inflation? My husband assured me that this arrangement would work out great for everyone involved. Our tenant wouldn’t owe us the rest of his rent for the month, and in turn, we would have an entire warm season free from yard work. He reasoned that we just cannot keep working so hard without burning out. And, as usual, he had a point.
“It’s time to stop trying to do everything ourselves. We need to find a way to have more free time or we will eventually go crazy.”
He spoke the truth. Aside from vacation, we haven’t had much free time in the past few years. We had been working so hard, had paid off all of our debts, and were able to secure various streams of income. However, we were running short on time to get anything else done. And while working hard wasn’t a problem in itself, the hours we were putting in meant that our other responsibilities were often neglected. Nevertheless, I didn’t want to get carried away by our new penchant for lifestyle inflation. It was important to determine what we really wanted to hire someone to do, and what we would continue to do ourselves.
My husband made another thoughtful suggestion, “let’s just do the math and see if it really makes sense.” So we did. Our tenant currently owed us $400, and we figured that we probably mowed our grass fifteen times last year. That works out to about $25 per mow. And since it typically takes either of us about two hours to get our yard mowed, we would only be paying $12.50 per hour to buy our time back. Looking at the numbers from that perspective made me feel completely different. Was it worth it to pay someone $12.50 an hour to complete a task that we could rarely find time to do? Without a doubt.
We decided to call our tenant and see if he would agree to our suggested arrangement. He was thrilled to have the opportunity, and I was relieved that we would have summer free of yard work after all. And even though my husband suggested that we also hire someone to clean our house, I’m still mulling that suggestion over. I’m just not willing to make several changes at once, and I don’t want to end up paying someone to do everything.
A healthy dose of lifestyle inflation
Even though I was feeling like a failure for not being able to do everything, I am learning to accept that fact that it may make sense to occasionally hire help. And the truth is, I used to clean houses in my early twenties, and the people I cleaned for weren’t lazy at all. They were busy. They knew that their time had become worth more than what they were paying me to clean their home, and I now realize that they were wise to delegate those responsibilities.
In the end, we decided to do what felt right. And since we are finally debt free and starting to earn more, it was time to start reevaluating the way we have been living. Time is our most precious asset, and we needed to spend more time living instead of always cramming in as much productivity as possible. It’s become against my nature to pay for services, but I’m coming around, slowly but surely. And this summer, when my kids are playing in the dirt and I’m enjoying the last hours of the evening, I’ll probably wonder if the money was worth it. I can only hope that the answer is yes.
Do you do everything yourself? Or do you hire out certain responsibilities? What factors do you take into consideration when making those decisions?
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Frugal green living is important for everyone because environmental issues affect all of us, not just the people who can afford to be eco-conscious.
Plus the concept of frugal green means you are saving money! And that is always helpful.
This is why I created this blog, to help people save money, find financial freedom, and have choices in life.
Reducing your carbon footprint is one of the greatest gifts you can give to yourself and the planet.
But how do you save money while also making a difference? It’s possible!
This is why choosing to be frugal green is so important!
These are all frugal ways that I have personally done or heard of other people doing as well. They are tried-and-true methods of living a more frugal life, and I hope that you will find them helpful. Plus help the environment at the same time.
This is a win-win situation.
Have you ever wondered how to be environmentally friendly?
Do you want to save money and the environment at the same time?
This article has 91+ frugal green living tips that will help! Let me know which ones are your favorites!
How to save money and be frugal green?
There are many ways to be frugal green and save money while helping the environment.
Plus in the long run living green costs less.
We will cover ideas for your kitchen, car, shopping and so much more. There are many other ways to be frugal green, so find what works best for you and make a difference!
These are ways to live more sustainably while saving money.
Importance of Sustainability and the Environment
You can save money and help the environment without making any major changes to your lifestyle.
Some easy ways to do this include, but are not limited to, changing your habits at home, buying used instead of new, and being more conscious about how you use energy.
Every day you can make the decision to choose to be a thrifty person.
Top 10 Best Frugal Green Living Tips
In order to save money and be more environmentally friendly, try some of these tips:
1. Reduce your use of plastics. This means bringing your own bags to the grocery store, refusing straws when you order drinks, and not using disposable utensils or plates.
2. Make Recycling a Priority. Recycling is important, and everyone should do their part to make it a part of their everyday routine. It’s not just for plastics and paper- there are many different things that can be recycled. By taking small steps like bringing a reusable coffee mug, we can all make a big difference in the long run.
3. Ride a bike or walk instead of driving. Not only is this better for the environment, but it’s also a great way to get some exercise.
4. Do the “green thing” and buy things secondhand! When you’re considering your lifestyle choices, buying things secondhand is a great way to do the “green thing.” You can save money and help reduce the amount of waste that goes into landfills.
5. Only buy what you need. Many times we buy things out of convenience or wants. Truly evaluate whether the purchase is necessary or if you can save money by buying used.
6. Compost as much as possible. Not only does this help reduce waste, but it also helps create nutrient-rich soil for plants.
7. Consider your carbon footprint. Americans use a tremendous amount of resources and impact the planet in many ways. We consume a lot of energy, materials, and water. Our lifestyles have a big environmental impact. There are many ways to be frugal and environmentally conscious, including recycling and reducing food waste.
8. Cut Out Paper and Plastic Waste. One way to be more frugal and green is to reduce the amount of paper and plastic waste you produce. Technology has greatly improved in many ways to cut down on plastic and paper consumption, so take advantage.
9. Think Before You Throw Away and Buy New. We are way too quick to toss things and replace them without even thinking. Next time before you throw it into the landfill, think about how you can reuse, repurpose, or give away the item.
10. Upcycle. The concept of upcycling has gained popularity in the past years. It is a simple way of taking something ugly and worn down, putting some TLC into it, and making it into something beautiful.
Related Reading: Top 10 Influential Frugal Living Tips with a Big Impact
Being frugal and being environmentally conscious may not always go hand in hand.
In some cases, you may have to make a choice between buying an eco-friendly item that is more expensive or sticking with a cheaper, non-sustainable option.
However, many of the aims of frugal families link to eco-friendly living.
Below are simple sustainable products to consider buying instead of their wasteful counterpart.
Reusable food bags are a great way to reduce your environmental impact while also saving money.
There are a variety of different types of food grade eco-friendly bags on the market today. They are made of safe, eco-friendly materials that will not harm the environment and they are lead-free, chloride-free, and BPA free.
Bamboo straws are a great eco-friendly alternative to plastic straws.
They are compostable, meaning they will never pollute the environment or harm animals. Bamboo straws are odorless and tasteless, so you can use them with any drink. Reusable bamboo straws make a great addition to your everyday kitchen supplies.
These dish cloths are also super absorbent and work better than microfiber cloths and paper towels for cleaning.
They are made from cellulose, which is a soft material that is gentle on your hands. They can be used for a variety of tasks, such as dishwashing, wiping down counters, and polishing furniture. And they are durable enough to be reused multiple times.
A reusable K-cup is a great way to reduce your environmental impact while enjoying your favorite cup of joe.
Works perfectly in our house! Not only do they help you save money in the long run, but they also allow you to customize your coffee experience like never before. Plus, using a reusable k-cup is an easy way to reduce waste and help preserve our planet.
Frugal Green in the Kitchen & Table
There are a number of ways to save money and be frugal green in your kitchen.
Use a Reusable Coffee Mug. So simple and easy to do. Pick your favorite up here.
Skip plastic straws. This is a simple thing to do for the environment. Buy reusable straws. And don’t forget the cleaning brush (hint… the cleaning brush will save you from throwing away your reusable straws.)
Skip the Paper Plates and Plastic Utensils. You will be shocked to see the waste this creates. Invest in quality dishes you like and don’t be afraid to wash them up.
Invest in a Water Filter. If you’re looking for ways to improve your diet and save money, consider investing in a water filter. We upgraded to an under-the-sink mount water filter and it was the BEST choice ever! This is the exact one we bought.
Cook at Home. Making your own meals can save you a lot of money in the long run. You’ll be surprised at how much money you can save by cooking simple meals yourself.
Grow a Kitchen Garden. One way to reduce your food costs is to grow some of your own fruits and vegetables. You can start with a kitchen garden, which is a small plot of land near your house where you can plant fruits, vegetables, and herbs. if you don’t have space, check out these Aerogardens.
Stop Using Plastic Wrap. To reduce your reliance on plastic wrap is to invest in some beeswax food wraps. These work just as well as plastic wrap, but because they’re made of natural materials, you can reuse them over and over again!
Air dry dishes. This is because air-drying dishes use less energy than running a dishwasher and takes up less time.
Stick With Instant Pot. When you’re cooking, try to use a microwave or pressure cooker instead of your oven. Ovens produce a lot of heat and use up a lot of energy, so using these other appliances will help conserve resources. This is the Instant Pot/Air Fryer Combo I love (and use ALL.THE.TIME)!
Frugal Green Cooking & Menu Plan
This may not seem as environmentally conscious as other areas, however, it will help your wallet more.
Buy produce at the local market. Fruits and vegetables tend to be cheaper at the market than they are at the grocery store, so this is a great way to save some cash while also doing your part for the environment. Plus you save on the costs of trucking in the produce and support local.
Join a CSA. These community-supported agricultures have become popular ways for consumers to buy local and seasonal food directly from the farm. You normally have a dollar amount buy-in or a certain number of hours worked for food.
Enjoy Organic Foods. Organic foods may be worth the extra cost – organic food has a higher nutritional value than conventional food, plus it’s better for the environment because it doesn’t require pesticides or chemical fertilizers.
Go Meatless. Americans, on average, eat twice the recommended amount of meat. Meat production is one of the leading causes of greenhouse gas emissions and climate change. Consider your carbon footprint when making dietary decisions.
Shop Grocery Weekly Ads. Start by looking out for food sales at the grocery store. This can help you save money while also being more mindful of the environmental impact your food choices have.
Meal Plan. One great way to save money on groceries is to plan your meals ahead of time. This allows you to be more strategic in your shopping and can help you avoid buying items that you don’t need.
Use Leftovers. When you’re cooking a meal, always cook a little more than you need. This way, you’ll have leftovers that can be used to make another meal or stored in a glass jar for later use.
Pantry Challenge Time! One way to save money on your groceries is to consider doing a pantry cleanse. This means eating all the foods in your pantry that are sitting there. Then, only buy groceries that you know you’ll use. This can help you avoid overspending and wasting food.
Skip Pre-Made or Boxed Mixes. Making your own is a more affordable option, as pre-made or boxed mixes can be expensive. There are many recipes online that are healthy and affordable, and by planning ahead you can save time and money.
Shop the Perimeter of the Grocery Store. A lot of people want to save money and be more environmentally friendly, but don’t know where to start. One way to do both is to try to stick to the perimeter of the grocery store. This means avoiding the center aisles, where most processed foods and extra packaging are found.
Buy Generic Brands. Generic brands are less expensive than their name-brand counterparts. This is because generic brands do not have the same marketing and advertising costs as name-brand products. Many times the quality is the same or better!
Key Frugal Green Ideas While Shopping
These are environmentally friendly ways to improve your shopping habits. Many people may call this frugal minimalism.
Donate First. It’s easy to just dispose of something when it’s no longer needed, but sometimes that thing could be reused or recycled. For example, if you have an old TV that isn’t being used, try selling it or donating it before throwing it away. There are a lot of people who might need your old TV, and you can get some money for it if you sell it.
Buy Refurbished. On the other hand, if you’re in the market for a new TV, think about buying one that is refurbished instead of buying a brand-new one. Refurbished electronics often come with the same warranty as new ones and cost way less than buying a brand-new model.
Try Fixing First. Just because something is broken doesn’t mean you have to throw it away! Many times, things can be fixed very easily and cheaply. If your electronic device is leaking toxic chemicals, however, you should definitely not try to fix it yourself–take it to a professional recycler instead.
Reuse your own grocery bags. This will save both money and the environment, as disposable grocery bags often end up in landfills. Also, many stores are now charging for grocery bags, so save a few bucks at the store.
Do not buy new books. You can borrow books from the library or from friends, or you can buy them used. Buying new books wastes resources, and it’s often cheaper to buy them used.
Use the Library. The library has a wealth of books, movies, and music that you can borrow for free. Plus you can find access to tons of digital resources as well.
Shop Second-Hand Stores for your needs. These are great places to find clothes, furniture, and other household items at a fraction of the price.
Stop buying the paper version of the newspaper. Instead, get the daily news online for free. Not only will you save a few bucks each month, but you’ll also help reduce deforestation.
Shop at Sustainable Businesses. Thankfully, many companies focus on being sustainable businesses by making changes from production, to packing to shipping. As a whole, the industry could do better to create less waste. One sustainable company is the Everyone Store.
Think Twice on Gifts. Really consider what someone would want for a gift. Too many times we opt for quick and cheap gifts that are materialistic in nature and never be used. So, consider some of these money gift ideas instead.
Frugal Green Cleaning Products that Are Eco Friendly
You may not be environmentally aware of the hazards of using most cleaning products. In fact, you should check your normal cleaning products with EWG’s database and their standards.
DIY Baking Soda & Vinegar. Using green cleaning products is usually more expensive than traditional ones. Baking soda and vinegar are easy-to-find, cost-effective alternatives to environmentally unfriendly cleaners.
Use Microfiber Cloths. Personally, this is my favorite way to cut the expansive (and not-good-for-you) cleaning products. These microfiber cloths are just as effective at cleaning and will save you money in the long run.
Skip the Disposable Rags. Use up-cycled rags from old clothes to pick up spills.
Stop Using Air Fresheners. Reduce or eliminate the use of air fresheners, which release harmful chemicals into the air. Plus they are super costly!
Frugal Green & Energy Use in the Laundry Room
Use Detergent Powder. Washing your clothes in a washing powder uses less water than liquid tabs, which come in more plastic packaging. Also, the powder is a much better environmental solution and better for your body. This is the detergent powder we use and love (and those I recommended it to love it as well)!
Sniff Test. Implement the sniff test and only wash clothes when they fail the sniff test. Beware of this recommendation with teenagers!
Line Dry Clothes. Additionally, line drying clothes throughout the year can save a ton on your energy bill! Plus your clothes do not wear as quickly.
Watch Your Hot, Wash in Cold. One easy way to save money on your household bills is to reduce the amount of hot water you use. Heating water takes up a large percentage of the energy used in households, so by washing your clothes in cold water, you can cut down on your energy usage significantly.
Frugal Green in the Bathroom & Morning Routine
Use Less Shampoo or Soap. In order to save money on your grocery bill, you can use less shampoo than is recommended. If everyone did this, it would result in significant monetary and plastic savings.
Turn the water off while brushing your teeth. It is important to turn the tap off while brushing teeth in order to conserve water. Many people forget to do this, and as a result, millions of gallons of water are wasted every year.
If it’s yellow, let it mellow. If the toilet water is yellow, it’s ok to let it mellow. You don’t have to flush to turn it off every time. Thanks to auto-flush toilets in most places this is very common for people to forget to flush at home.
Take Cooler Showers. This may not be everyone’s favorite. But take a cool shower rather than a piping hot shower. Most of the energy used is the hot water heater warming up the water.
Use Every Last Drop! There are a few ways to get the most out of your products and conserve them- one way is to leave bottles upside down for a couple of hours after you’ve used them so that you can get the last bit of product out. You can also roll up toothpaste tubes to get the remaining paste out. Here is a great product to help you squeeze every expensive ounce out.
Related Reading: Billionaire Morning Routine: How To Achieve Success In Life
Green Lot with Frugal Green Landscaping
Xeroscape Your Lawn. Lawns are often seen as a status symbol, but they’re actually quite expensive and environmentally damaging. They require large amounts of water, fertilizer, and pesticides to maintain, which can leach into the groundwater and pollute the environment.
Change Mowing Schedule. Additionally, lawn mowing emits greenhouse gases that contribute to climate change.
Water Less Often. While this sounds great in theory, you may not be able to fully switch to xeriscaping your yard. If you can’t switch, then check out this Rachio to lessen your dependence on water.
Frugal Green Home Ownership
There are many ways to save money and be more environmentally conscious at the same time when owning a home.
Your home is probably one of your biggest expenses, so it’s important to take measures to conserve energy and save money. Plus there are many ways to reduce the amount of energy your home consumes!
Home Improvement Math. When considering whether or not to make an improvement to your home in order to reduce your carbon footprint, always do the math to see if the improvement will actually pay for itself. Sometimes it will and sometimes it won’t so be sure to weigh all of the options before making a decision.
Downsize Your Home. If you live in a large house, consider moving into a smaller one. This will help you save on your energy bill and make your home more efficient.
Install low-flow fixtures. One way is to install low-flow fixtures, such as showerheads and faucets. This will reduce your energy use and, in turn, your monthly bills. You can also save water by taking shorter showers.
Hang UV Blocking Curtains. By stopping the sun from heating up your house with curtains during the day, you can save on cooling costs in the summer. Using UV blocking curtains is something we did and notice a significant difference in the summer and winter.
Run Appliances with Full Loads Only. Wait until you have a full load of dishes or laundry before running the dishwasher or washing machine. You would be surprised at the amount of energy and water it takes to run those appliances.
Be Reasonable with Air Conditioning Temperature. In the summer, don’t crank up the air conditioning to save on your energy bill. You can also set your thermostat a couple of degrees higher in the summer to save money. Also, you may want to start cooling your house earlier in the day to prevent your AC unit from working overtime and consuming more energy.
Program Your Winter Heating Temperature. In the UK, A/C is not as common as it is in other countries. Central heating is used more often and is set to a lower room temperature for the summer and a higher room temperature for the winter. This is because people want to save on their energy bills.
Open Windows to Cool House. When the weather is nice, open your windows to allow for natural cooling. This is a simple and cheap way to cool your house. Especially after a nice cool thunderstorm.
Buy Energy Efficient Appliances. Energy-efficient models might be more expensive in the short term, but they will save you money in the long run and help reduce your environmental impact. However, these products should only be bought when the older model is worn out–don’t replace something just because it’s energy-efficient!
Replace Windows. On the one hand, it’s a great idea to replace your windows with more energy-efficient models if you’re staying in your home for many years. However, if you plan on moving within a few years, it might not be worth the investment. You’ll need to weigh the cost of the windows against how much money you’ll save on your monthly energy bill.
Get a programmable thermostat. Programmable thermostats are a great way to save money on your energy bill. You can set them to turn off or down when you’re not at home, or during times of the day when you don’t need as much heating or cooling.
Look for Energy Leakage. The typical older home has enough energy leakage that it’s the equivalent of leaving your front door open all year long. You can combat this by installing weather stripping and caulking around doors and windows and adding insulation to your attic. Most utility companies offer an energy audit.
Weatherize your Home. Weatherizing your home is a great way to improve energy efficiency and save money on your energy bills. There are many things you can do this and varies on the area of the world you live in.
Sustainable Frugal Green Transportation
Ditch the Car Completely. One of the biggest expenses for many people is their car. Whether you’re paying for car payments, insurance, gas, or maintenance, it can be a lot of money. You can eliminate this expense by ditching the keys and taking public transportation. Not only will you save money on your monthly expenses, but you’ll also help the environment!
Buy Hybrid Cars. Hybrids cars are expensive but they could help you save money on fuel in the long run – hybrids tend to have lower emissions than conventional cars. So, it might be time to say bye to that beater car.
Drive Less and Play Your Route. Driving less is the biggest way to reduce fuel-guzzling trips. Take it a step further with UPS research on their strategic delivery methods and focus on making only right-hand turns.
Carpool Whenever Possible. carpooling is a much more green choice than driving alone.
Look Into Car Sharing. When you only need a car occasionally, or for short trips, it might be more convenient and affordable to use a car-sharing service. Car-sharing services offer the opportunity to have access to wheels when you need them, and they’re flexible and convenient for short trips.
Invest in Electric Scooter. This mode of transportation is the uber-popular. You don’t need cash for gas, money for registration fees, and completely reliable to get around quickly. Check out the best electric scooters on the market.
Ride a Bike. A commuter bike is much cheaper than a car. Plus you get the added benefits of exercise and no carbon waste. Or upgrade to an E-bike.
Telecommute. If you can do your work remotely, then telecommute more often than not. This will save on transportation costs as well as pollution.
Walk More Often. Plan your day around being able to walk places that take under 30 minutes to get there. Then, it is better to walk than drive. Plus you can hit your 10000 steps quicker. It is a triple for the win – health benefits, free exercise, and fresh air!
Don’t Run Your Engine Unnecessarily. Leaving your engine running unnecessarily while stationary can waste fuel and cause environmental damage. Make sure to turn your engine off when you’re not moving to save money and help the planet!
Drive More Efficient. When it comes to saving fuel, one of the best ways is to drive more slowly and efficiently. This will help you save petrol or diesel and reduce your carbon footprint. For example, slowly put your foot on the accelerate to maintain a speed.
Frugal Green Budgeting Per Month
Choose To Save Rather Than Spend. Every tie you actively choose to save your money rather than spend it. You help the environmental impact. We have plenty of popular money saving challenges to help you save more money today.
Pay Bills Online. When you pay bills online, you can save a lot of time, space, and money. You can also save paper by paying your bills online–instead of receiving paper statements in the mail, you can access them online.
Find Free Things to Do. This one is a win-win for frugality environmentalism. Focus on finding activities from this list of things to do with no money. Many of them are already frugal green wins.
Opt for Paperless. And finally, if you pay your bills online, you may automatically receive discounts on some of your monthly bills! Many companies now charge a $2-5 paper statement to be mailed.
Focus on Financial Independence. This may seem like a crazy idea, but it is true. The more you save, the faster you reach financial independence. In fact, this is with the Frugalwoods decided to be frugal in the first place.
Follow Simple Frugal Living Green Ideas – Way to Go Green
Reduce, reuse, recycle. This old mantra is more important than ever in today’s world. By recycling everything you can, you can help conserve resources and keep waste out of landfills.
Your Mindset is Everything. Just like with anything, if you decide to commit yourselves to become environmentally aware, then you are likely to succeed. You don’t have to become extremely frugal overnight. You just have to remember that mindset is everything in this process.
Turn off electronics when not in use. This includes televisions, computers, and other appliances. By turning them off, you’re conserving energy (and saving money). Plus some older appliances might be fire hazards if left plugged in.
Stop Junk Mail. One way to reduce the amount of junk mail you receive is to go through your postal mail and ask to be removed from lists you’re not interested in. This can be done by contacting the Direct Marketing Association (DMA) or specific companies that send you unsolicited mail.
Grab a Sweatershirt or Blanket when Cold. Instead of automatically adjusting the programmable thermostat higher, you can also save by wearing a sweater or using a blanket. Maybe turn on the fireplace before putting the heating on.
Invest in Renewable Energy. In today’s world, it is more important than ever to invest in renewable energy. There are many reasons for this:
First and foremost, using renewable energy helps to reduce our dependence on fossil fuels, which are finite and contribute to climate change.
Renewable energy also creates jobs and supports local businesses.
And finally, investing in renewables reduces our greenhouse gas emissions, helping to fight climate change.
In the long run, renewable energy can save you money and reduce emissions by providing power more reliably, often more cheaply than a traditional power source.
Are You Ready Live Life Frugal Green?
Living a more frugal lifestyle is good for the environment because it costs less.
It doesn’t take much to make small changes in your life that will have a big impact on the planet. For example, consume less and you’ll be doing the most earth-friendly thing you can do.
There are dozens of ways to save money and be more environmentally conscious which we covered in this post.
Being frugal and being green often go hand in hand.
However, most people lose steam after just a couple of weeks. So, do not attempt to do each frugal green living habit.
Pick your top 3 with the biggest impact.
Add one another 1-3 frugal living tips every month or so.
Over time, you will be surprised to see how easy it is to live frugal green, while also helping you to save money while also protecting the environment.
You can be the frugal green girl or gal with a few of these simple habits. Or choose to follow a frugal blog or frugal forum.
Know someone else that needs this, too? Then, please share!!
Save more, spend smarter, and make your money go further
Just when you think you’ve got this whole credit thing down, some new credit-related phrase creeps into the industry’s vocabulary: DTI ratio, APR, amortization, and the list goes on . Let me introduce you to the world of mortgage credit reporting, which is very different than just “regular credit reporting.” There’s an entire world of intermediary credit reporting companies called Mortgage Reporting Companies that service the massive number of mortgage lenders and brokers. Follow me…
How Mortgage Lenders Gather Your Credit Data
When you apply for a credit card or an auto loan, the lender will buy one of your three credit reports directly from one of the three credit reporting repositories; Experian, Equifax or TransUnion. They’ll then use that information, and the score they bought at the same time, to make their approve/deny decision and set the terms of your new account. That process occurs tens of thousands of times every single day.
When you apply for a mortgage loan, the game changes. Mortgage lenders don’t typically buy one of your credit reports — they buy all three of them. And, if you’re applying jointly with a spouse or someone else, the lender will buy all three of their credit reports, too. So, that’s 6 credit reports and 6 FICO scores (FICO is still the score used in the mortgage industry) of which the lender or broker will take possession.
What is a Residential Mortgage Credit Report (RMCR)?
Now, that’s a lot of credit reports and a lot of pages. It’s also a ton of redundant information. Think about the joint credit card you have with your spouse. That likely shows up on all 6 of your collective credit reports. Does the mortgage lender really need to see the same account 6 times? Of course they don’t.
Because of the large amount of credit report data required by mortgage lenders, the need for an intermediary service exists. This service accesses all of the credit reports required by mortgage lenders from the big 3 credit bureaus and then consolidates them into one easier-to-read credit report. This credit report is called an “RMCR,” or Residential Mortgage Credit Report, and the companies that provide them are referred to as mortgage reporting companies.
These companies act as brokers or resellers of the data maintained by Experian, Equifax and TransUnion. The mortgage lender will subscribe to their services and commonly request a credit report on a mortgage applicant or applicants. The mortgage reporting company will then go to the big 3 credit bureaus on behalf of the mortgage lender and buy the applicant’s credit reports and FICO scores.
But before they deliver this large amount of information back to the mortgage lender, they’ll combine the information into one RMCR. The credit score information will be displayed in one section, the negative data will be displayed in another section, and things like inquiries and personal identification information will be displayed in their own sections. This merged credit report (often called a “Tri-merge”) is considerably easier to read than reading six separate credit reports is.
How Can I Get a Copy of My RMCR?
If you’ve applied for a mortgage-related loan, you probably have your RMCRs in your closing paperwork, as mortgage brokers and lenders will often give you a copy. It’s a very valuable aggregate of information because it’s a comprehensive study of all of your credit reports and it includes your actual FICO scores, along with the 4 reasons why each of them wasn’t higher.
John Ulzheimer is the President of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, and a contributor for the National Foundation for Credit Counseling. He is an expert on credit reporting, credit scoring and identity theft. Formerly of FICO, Equifax and Credit.com, John is the only recognized credit expert who actually comes from the credit industry. The opinions expressed in his articles are his and not of Mint.com or Intuit. Follow John on Twitter.
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Flexible spending accounts, or FSAs, are special savings accounts offered through some employer benefit plans. They allow the account holder to pay for certain out-of-pocket medical and dependent care costs with tax-free money.
However, FSAs come with some rules and regulations. For instance, FSA rules cap the amount of money that can be placed in the account each year ($3,050 for 2023), and also dictate which types of expenses qualify for an FSA distribution.
Still, FSAs can be a powerful tool for covering unavoidable medical costs that could otherwise wreak havoc on finances.
Flexible Spending Account Explained
FSAs are savings programs offered through employers — which means that self-employed people aren’t eligible. Those who are self-employed may be covered through an employed spouse’s plan, or they may choose to open an HSA, if they qualify.
FSAs are also sometimes called flexible spending arrangements, and they can cover you, your spouse, and your dependents. There are also a few sub-types of FSAs, such as dependent care FSAs (DCFSAs) and limited purpose FSAs (LPFSAs).
Recommended: Benefits of Health Savings Accounts
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Flexible Spending Account Rules: An Overview
FSA contributions work similarly to employer-sponsored retirement plans like 401(k)s: a certain amount of wages is withheld each pay period and contributed to the account.
The account holder elects how much to withhold at the beginning of the plan year — and, importantly, they may not be able to change it unless there’s a change in employment or family status. That means it’s important to think the decision through carefully.
But unlike a 401(k), the funds placed into an FSA aren’t just tax-deferred — they’re actually tax-free. That means they aren’t included in the account holder’s total taxable income, nor are taxes due when distributions are made.
Recommended: Tax Credits vs. Tax Deductions: What’s the Difference?
How Much Can I Contribute to My FSA?
In 2023, account holders may contribute up to a maximum of $3,050 per year to their FSAs. Employers may also place limits on the amount an employee can elect to be contributed, up to this federal cap.
Unused Funds: FSA Rollover and Reimbursement Rules
Another rule regarding FSAs is the fact that, generally speaking, unused FSA funds are forfeited.
In other words, FSAs are “use it or lose it” accounts; the money that isn’t used for qualified expenses by the end of the plan year can’t be rolled over into the next.
Thus, account holders may want to be cautious to avoid over-contributing to the plan and carefully estimate how much they think they’ll need to spend on out-of-pocket health expenses. Setting up a budget may help with this.
However, there are some exceptions that may be accessible, depending on the employer’s policy choice. They may allow for a “grace period” or a carry-over option — one or the other, but not both, and they’re not legally required to offer either.
• The grace period option allows account holders to use their FSA funds for an additional two and a half months after the plan year to pay for qualified medical expenses.
• The carry-over option allows account holders to roll over up to $610 of unused funds into the account for use the next plan year, though the employer may specify a lower dollar figure. Carryover doesn’t affect the maximum allowable contribution for the next year’s plan.
Recommended: How to Negotiate Medical Bills
What Can a Flexible Spending Account Be Used For?
Given the contribution limits and forfeiture rules of flexible spending accounts, FSA account holders usually want to be careful about calculating how much money they might be able to use — otherwise, significant amounts of their paycheck might end up right back in their employers’ hands.
And although many medical expenses qualify, not all of them do, or especially rules apply. For instance, non-prescription medications are covered only with a doctor’s prescription. The exception is insulin, which is covered without a prescription.
FSA funds are also ineligible to be used for health insurance premiums (though you can use them for deductibles and copays) or long-term care coverage and expenses, which may affect those with chronic illnesses or disabilities.
There are, however, a wide range of procedures and healthcare services that FSA funds can be used to cover, including dental expenses.
In basic terms, any treatment that would qualify for a medical expense tax deduction can be covered by FSA funds; the full list of which can be found in IRS Publication 502 .
From acupuncture and alcoholism to birth control pills and psychological counseling, many services do count as qualified medical expenses.
Along with being the right kind of medical expense, services paid through FSA funds must be applied to the right people in order to be covered. Eligible beneficiaries include:
• The account holder
• Their spouse
• Dependents claimed on their tax return
• Children age 26 and under
Keep in mind, too, that FSAs generally work in conjunction with other types of health benefits and coverage, and funds can’t be used to reimburse services that are covered under other health plans.
It might be a valuable exercise to write out all of the expected medical expenses you’ll face as a family at the beginning of the plan year in order to decide how much to contribute, including additional coverages, in order to avoid over-contribution. While nobody can predict the future, some routine expenses can be foreseen — and a little bit of planning might save a lot of forfeited funds in the end.
Recommended: 15 Creative Ways to Save Money
Taking Distributions from an FSA
The process for taking distributions from an FSA may vary based on the plan. In some cases, distributions are made from an FSA to reimburse the account holder for medical expenses they’ve incurred. Some FSAs also have a debit, credit, or stored value card that can be used to pay directly for qualifying expenses.
In order to take a distribution, the account holder may have to provide a written statement from the doctor or medical service provider that specifies the medical expense incurred, as well as a statement documenting that the expense hasn’t been covered by any other health plan. In other situations, a receipt may be sufficient documentation in order to be reimbursed.
FSA reimbursements are only available for verifiable medical expenses that have already been incurred, rather than expenses the account holder plans to incur in the future. (In other words, you can’t write to the FSA and tell them you’re going to the doctor next month.)
Finally — and importantly — FSA participants must be able to use the entire benefit (that is, the total amount of money they pledged to contribute to the plan) even if those monies haven’t yet been contributed. There is some opportunity for roll-over, depending on the plan rules. Some FSAs allow account holders to carry over up to $610.
For example, if you decide to contribute $2,000, but get hurt midway through the year when only $1,000 has been deducted from your pay, you’ll still be able to use up to $2,000 worth of tax-free FSA coverage for qualified expenses. Pretty cool, huh?
Is a Flexible Spending Account Worth It?
A flexible spending account can be a helpful tool, but it’s not the only option for footing medical bills.
For one thing, $3,050 might not even scratch the surface of some common medical procedures, such as childbirth.
Furthermore, although the tax-free nature of FSAs is attractive, the prospect of forfeiting parts of a paycheck is definitely not — and there are other ways to save cash for medical expenses and other emergencies which offer not just flexibility, but growth.
For example, you could open an online bank account with a high-yield and earn more than 4% APY (annual percentage yield) in interest. That could be an option to explore.
Another idea is to create an emergency fund to help pay medical expenses. However, if you think you’ll use all the funds in an FSA, going that route instead may be worth more to you.
The Takeaway
The tax benefits of the FSA can make them an appealing and useful tool, especially for those who know they’ll spend a decent amount out of pocket on healthcare.
But if you’re not sure you’ll use the funds saved in an FSA, a SoFi Checking and Savings account could be an alternative solution. You’ll earn a competitive APY and you’ll pay no account fees. You could even use a SoFi Checking and Savings account as a complementary tool, along with your FSA, to work toward other saving goals.
Got medical expenses? Let SoFi Checking and Savings help you save for your healthcare needs.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice. Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement. SOBK0523012U
If you’ve been declined coverage from an insurance company, don’t assume that you can’t get the protection that your family needs. There are plenty of affordable insurance options.
For those who cannot get approved for a basic term life policy, guaranteed acceptance life insurance is the solution to their problem. Being exactly what it sounds like, there is not a single person turned away or left uninsured if you want a guaranteed acceptance life policy. On paper, this sounds like an excellent option for insurance coverage.
Even if you’ve been declined in the past for life insurance, this may not be your only option, but it’s important that you understand all of your options and that you realize even if you have terrible health, you can still get life insurance coverage.
Smokers, those with medical conditions, and seniors over 50 seeking life insurance with health conditions are the majority who look to these types of life insurance policies, hoping to be able to leave something behind for their families.
Anyone who has a health problem or has any risky behavior is going to be classified as a “high-risk applicant,” which means higher premiums or possibly being rejected.
Many companies have a guaranteed acceptance life insurance policy available and a little searching will do you worlds of good in getting the best rates. A policy is only as good as the company that offers it, and knowing whether the company you choose is right will take a little time and some research, but can wind up saving you quite a bit.
Note: If you are considered to be a high risk individual, see here for more high risk life insurance quotes.
What You Need to Know About Guaranteed Issue Life Insurance
The first thing to know about a guaranteed issue life policy is that no medical examination, medical history, or tests are performed; simply apply and you’re approved. The lack of underwriting means you can be approved within minutes. Many clients considered ‘high risk’ will find this type of policy to be the only available to them, and it comes with a price.
See here for more information regarding term life insurance that does not require a medical exam.
With the majority of clients being ‘high risk’ the premiums you’ll pay on the policy are more expensive. Rates will vary from company to company, but you’ll always wind up paying more than you would for a simple term life policy. If you want cheap life insurance protection, then you’ll need to find a company that will accept you with one of their traditional plans.
Benefits of Guaranteed Acceptance Life Insurance
There are some obvious advantages to these guaranteed acceptance life insurance plans, the biggest one is that anyone can buy one of these plans. Anyone can purchase one of these plans and get the coverage that they want. Nobody should have to go without the insurance protection that their family needs.
Perhaps one of the most beneficial features of a guaranteed acceptance life insurance policy is that it can be whatever you need it to be, term life or permanent. With a term life policy, your rates are set and won’t increase with your age while a permanent policy will be there for the rest of your life. The freedom to choose what policy you want makes a guaranteed acceptance life plan unique.
Another benefit to these plans that you won’t find with other types of insurance coverage is how quickly that you can be accepted for the insurance policy. With a traditional life insurance policy, you’ll wait weeks to get life insurance, or even month. Guaranteed acceptance gives you coverage in hours.
Taking the time to search and compare premiums will help you find the best guaranteed acceptance life insurance policy available. Companies will be quick to offer free quotes and estimates, features that can help you find the right company faster. If you can’t find the information you need from their site then contact their customer service, someone in the company is sure to be able to help you.
What Questions Do They Ask?
For the most part, insurance companies will ask the same or similar questions for a guaranteed life policy. The trick is that some companies will decline you on specific conditions while others will not.
How do you know who to go through? That’s the good news. You don’t!
That’s what we’re here to do. 🙂
We just need to ask some basic questions about your previous conditions and we’ll help align you with the right guaranteed issue insurance company.
Does Guarantee Issue Insurance Offer Same Death Benefit?
In most cases, the answer is no. Since the insurance company is taking on more risk by insuring higher risk individuals, the maximum amount of death benefit you can get is substantially lower. Face amounts will range between $5k-$50,000.
There are some carriers that will issue higher amounts, just be prepared to pay exorbitant prices. For most applicants that are looking for life insurance protection, this isn’t nearly enough life insurance. The smaller plans would leave their loved ones with debt leftover. Which means that if you’re looking for an insurance policy that is going to give you more coverage than that, you’ll have to go with a normal life insurance plan. The other option is that you can buy two smaller plans to get the coverage that you need.
Sometimes, too, you won’t have the same death benefit payout getting what’s called a “graded benefit”. A graded benefit means that if you die within 2 years of taking out the policy, you’ll only get the premiums you paid plus a certain amount of interest. These graded benefit clauses are the way that the insurance company offset the additional risk.
The majority of no-exam plans are going to come with the graded benefit components. This shouldn’t keep you from purchasing one of these plans, but it’s something to be aware of. The only way that you would receive the full benefit is if you were to die because of an accident.
Getting you the information you need to make an informed decision will show you how dependable a company can be, and with something as important as life insurance you need a company you know you can trust.
Pros and Cons of Guaranteed Issued Life Insurance
Guaranteed Acceptance Life Insurance policies have both advantages and disadvantages. On the one hand, they do not require a medical exam or health questions, guarantee acceptance regardless of health status, and may be a suitable option for individuals with pre-existing medical conditions or those seeking only a small amount of coverage. The death benefit is typically paid out tax-free.
On the other hand, these policies are often more expensive than traditional life insurance policies, have lower coverage limits, and have a graded death benefit that limits the benefit payout if the insured dies within the first two years of the policy.
As a result, these policies may not be suitable for those who require a large amount of coverage for income replacement or other financial needs.
Pros
Cons
– No medical exam or health questions required
– Typically more expensive than traditional life insurance policies
– Guaranteed acceptance, regardless of health status
– Lower coverage limits than traditional policies
– Can be a good option for people with pre-existing medical conditions or older individuals who may have difficulty getting traditional life insurance
– Graded death benefit means that if the insured dies within the first two years of the policy, the death benefit may be limited
– Can be a good option for those who only need a small amount of coverage for final expenses or to leave a small legacy
– May not be a good option for those who need a large amount of coverage for income replacement or other financial needs
– Death benefit is typically paid out tax-free
– Before purchasing, it’s important to compare rates from different insurers and consider other types of life insurance that may be a better fit for the individual’s needs and budget.
How Much Life Insurance Do You Need To Buy?
It’s vital that you get the right amount of life insurance protection that you and your loved ones need to how the money that they need. Getting the perfect size life insurance policy is a delicate balance between not paying for more insurance than you need and buying enough coverage.
If you’ve already paid off your mortgage, and you don’t hold a lot of debt, you can consider getting a smaller insurance plan, like one of the guaranteed acceptance life insurance policy. They are built to give coverage for people who don’t have any major debts.
The next factor to consider is your salary. As long as you don’t have anyone who needs your paycheck, then you can buy one of these guaranteed issue plans and they will provide enough protection.
After that, you should also consider any future expenses that your family may run into. You can’t predict the future, but there are some bills that you know they will encounter. The best example of this is college tuition. When your children are heading off to college, your spouse will have to pay for those bills with only one income, which can be difficult.
There are more factors that you’ll need to look at based on your situation to determine how much life insurance you and your family need. Our independent insurance agents can help you decide how much insurance that you need, and they can also help you find the perfect plan to fit your needs. These guaranteed issued plans are a great way to get the coverage that you need, but they aren’t for everyone.
Is A Guaranteed Acceptance Life Insurance Policy Right For Me?
Because there are so many different types of insurance policies, it can be difficult to decide which type of plan fits your needs. While these guaranteed accepted plans are an excellent option for anyone that’s been declined for life insurance policy, don’t automatically assume that they are your only option. If you have severe preexisting conditions, like heart problems or diabetes, guaranteed acceptance is one option, but not necessarily your only option.
Every insurance company is different, which means all of them are going to view your applicant through different medical underwriting. There are dozens of insurance companies that specialize in insuring high-risk applicants with various conditions and health problems. These companies have experience working with applicants that are in less than perfect health and they will give you a much greater chance of being accepted for life insurance and will deliver much lower rates.
Additionally, our agents have years of experiencing working in the insurance market, which means they know the companies that specialize in high-risk applicants and can get you the best chances of getting insurance coverage at an affordable rate.
Going with a life insurance plan that requires medical underwriting is going to be much cheaper than a plan that is no exam. These guaranteed issue policies should always be used as a last resort for life insurance, unless you have a specific reason for choosing one of these plans.
In order to be eligible for individual life insurance, the burden is on you to prove that you are healthy enough. This analysis is performed by an insurance agency and is referred to in the industry as “medical underwriting”.
Multiple factors are considered during this process.
The end goal determines your level of health so that the insurance agency can make an informed decision on whether or not they would like to accept the risk.
Underwriters who review eligibility for life insurance applications are predominantly concerned with life expectancy, as opposed to medical bills that may come in the future. For this reason life insurance can be obtained by people with Hepatitis C. The premium on these policies is obviously higher than on a standard insurance policy.
The name that is given to a policy of someone with Hepatitis C is referred to as a “rated” policy whereas ones labeled “impaired risk” or “standard” are not related to critical diseases. Seeking an agent with these credentials is advisable when trying to obtain insurance other than standard.
What Life Insurance Underwriter’s are Looking For
Underwriting for people with Hepatitis C comes down to a few key factors. The first consideration to take into account is whether or not the disease is in remission. Next it is important to determine how much damage, if any, has been done to the liver. Remission is the end goal for anyone suffering from Hepatitis, and reaching it goes a long way when trying to obtain insurance.
When a person is medically tested for Hepatitis by insurance, the medical examiner is trying to determine at what level the liver is functioning. This, however, is no easy process and is painstakingly long. Generally, depending on the progression of the hepatitis, the treatment and testing will take two to five years. This is the basis for which most life insurance companies even begin to consider extending a policy. On the other hand, if these levels of health are not concluded, insurance will either decline the policy or over them at a premium.
The additional factor that is considered is a liver biopsy. Biopsies are performed in order to get an in depth diagnosis of the condition of the liver. Liver damage is extremely costly to treat and leads to other health problems so it is important for insurance companies to consider. The good news is that if liver damage is minor or nonexistent, a person has a good chance of receiving a standard insurance policy. Most cases are reviewed by a medical director in order to make a case by case decision.
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Other Factors of Getting Approved with Hepatitis
In addition to the medical testing, an underwriting considers several other factors. The younger the applicant is with Hepatitis C, the more strictly their records will be reviewed. Younger applicants are more likely to be denied coverage than older ones who have a medical history to review. Lifestyle is also considered in the underwriter’s analysis. Applicants with Hepatitis C who smoke or drink alcohol are almost always denied.
The time since diagnosis is also a factor that is looked at. Having a long history of medical information is what an underwriter needs in order to make a decision on the health of the applicant. If the diagnosis is relatively new, insurance agents will sometimes postpone the review of your file until they have more of a medical history to look at.
An acute case of hepatitis applies to someone who has an extensive history of treatment that would be considered successful to a medical examiner. This person must also be experiencing no symptoms of Hepatitis. These people may be able to acquire insurance on a Table 2 or higher rate. This means that the insurance rate would be 50% higher than the standard rate.
Having the help of an impaired risk specialist will help you in your chances of obtaining insurance at the lowest possible table. That’s where we can help.
Medical Questionnaire with Hepatitis
If you’re seeking life insurance coverage and currently have hepatitis, the following information is what we’ll need to know how to best approach getting you the most affordable term policy.
1. Please provide date of diagnosis.
2. Has the hepatitis been diagnosed as:
a. Acute viral hepatitis A resolved.
b. Acute viral hepatitis B resolved.
c. Acute viral hepatitis C.
d. Hepatitis A unresolved.
e. Chronic, persistent hepatitis B unresolved.
f. Chronic, active hepatitis B unresolved.
g. Chronic, persistent hepatitis C.
h. Chronic, active hepatitis C.
i. Other hepatitis:
3. What are the most current liver enzyme levels?
4. Which studies have been undertaken to diagnose/treat the condition?
a. Liver ultrasound, CT scan or MRI.
b. Liver biopsy.
c. Other.
d. Studies recommended/pending.
5. Does the proposed insured use any medications such as alpha interferon or Ribavarin? If so, please list name of medication, dates used, quantity taken and frequency taken.
6. Does the proposed insured consume any alcohol? Yes or No.
7. How frequently does the physician monitor liver functions?
a. Quarterly.
b. Semiannually.
c. Annually.
d. Other.
8. If infected with hepatitis C, is the proposed insured vaccinated against hepatitis A or hepatitis B?
9. Please advise on any additional information that may help us provide you with a more accurate preliminary assessment.
People with chronic Hepatitis C will obviously have a much more difficult time receiving insurance. It is sometimes a flat out denial before any testing is done if this information is known. There are rare cases where coverage will be offered if the applicant can show a history of successful treatment. A biopsy is usually needed if you suffer from chronic Hepatitis.
Getting the Coverage You Need
Regardless of how severe the case of Hepatitis is, it is worth effort and research to explore the options and know what is available to you. An independent agent is the best bet for doing so and will be able to speedily locate insurance that is the best for your particular case. It is advised to seek the help of an agent who is an impaired risk specialist. These people will know the details of your disease and be able to assist you in obtaining the best insurance for your needs.
We have years of experience working with different kinds of high-risk clients and we can help connect you with the perfect insurance plan at an affordable price.
Now that Tarek and Heather El Moussa have joined forces in holy matrimony and in the business of flipping homes and in starring on their own show, “The Flipping El Moussas,” we figured it was only a matter of time before they took the next step that all reality star couples take.
Can you guess? They’ve embarked on selling their own line of home decor.
Pretty much all big-name reality TV stars hawk their own products, of course. Chip and JoannaGaines peddle home accessories galore at Magnolia and Target. Property brothers Drew and Jonathan Scott launched a furniture line at Living Spaces. Dave and Jenny Marrs of “Fixer to Fabulous” have a slew of outdoor wares at Walmart. Even Tarek’s ex-wife, Christina Hall, has her own bracelet line. In short, the list of celebrity-endorsed products is nearly endless.
So it stands to reason that the El Moussas would also enter into the fray. Yet while I was excited to check out their offerings, I have to admit I was somewhat underwhelmed.
Is Tarek and Heather El Moussa’s home decor line a flop?
Home by Tarek & Heather currently offers only four products: two candles priced at $38, one candle priced at a jaw-dropping $249, and a dispenser of hand soap for $16.
All “smell lovely,” says Heather in a promotional video.
Apparently, these four products are just the start, with more to come—at least according to the second episode of their show, when Tarek and Heather were celebrating the arrival of some samples. They are not only sniffing candle scents, but also plumping pillows and nuzzling what looked like whisper-soft throws.
Tarek describes their new line: “In all of our flips, we’re going to put in candles, we’re going to do floor mats, rugs, maybe blankets, like homey stuff. Like comfy rugs and pillows.”
“So when people walk in, they know it’s a home by Heather and Tarek—er, Tarek and Heather. Sorry,” Heather says with a laugh.
I’m sure I wasn’t the only one who immediately wanted one of those throws. Given my anticipation, I was sorely disappointed to scour their website with nary a throw in sight—just four freaking products, one of them a $249 candle.
Could they have been overly eager to get to market, or just painfully naive about marketing home products? Tarek is known for selling homes, but selling home decor is a whole different game.
To find out what they might have been thinking, I reached out to consummate branding and marketing expert Klint Briney, founder and CEO of BRANDed Management. His company has worked with celebs, including Ed Sheeran, LeAnn Rimes, Mariah Carey, and Mark Cuban among others.
I asked him why the El Moussas launched so few products right out of the gate—shouldn’t they have waited until they had more to offer? Briney thinks not.
“By entering the saturated market of celebrity brands and home goods, a more risk-averse approach would be to initiate a small launch to test the market,” Briney says.
In other words, less is initially more when it comes to these lines.
“They chose two hero products that are both gender-neutral, accessibly-priced, and shelf-stable,” Briney continues. “In a time when most Americans struggle with decision fatigue, fewer offerings can often initiate higher conversion rates, as they are not bombarding the consumer with too many choices.”
I heard that. When I do a search on Amazon for one specific product and get 20 pages of results, I am usually overwhelmed by the choices and hold off on my purchase.
Tarek and Heather’s products haven’t been picked up yet by big-box stores like Target and Walmart, where their contemporaries have a presence? Is that a bad sign?
Not really, according to Briney.
“It appears they are taking a more targeted and narrow approach upon launch, as it is critical for them to ‘win their own backyard’ before employing a more large-scale, blanketed rollout,” Briney continues. “Their items are strategically branded Newport Beach and Los Angeles, the two markets they work and reside in. This sort of data is great presentation material when meeting with mainstream retailers, which often leads to better terms.”
In other words, you start out small and targeted, prove your work in a niche area, then your business offers a lot more value to a big-box store.
“They can learn a lot by the recent acquisition of Aussie brand Aesop,” Briney adds. This producer of skin, hair, and body care products was recently “acquired by Loreal for $2.5 billion, the largest in company history.”
If they’re lucky, Tarek and Heather, after starting with a few candles and some hand soap, could end up with a billion-dollar deal with a major international corporation.
“In an era of cancel culture and the fast rise and fall of most celebrity careers, the fact that Tarek has had a show in production over 10 years, along with reinventing himself after a high-profile divorce, shows his marketplace viability,” Briney concludes.
Forget the throws. Maybe instead I should buy stock in the El Moussa company.
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Whether you like flashy sports cars or practical minivans, shopping around for cars can feel like a fresh start. The problem is, most people can’t afford to pay out of pocket.
So how do you get a car loan to help turn your motorized dreams into reality? Like most big purchases, creating a thorough plan is a must. Understanding all your financing options, how a car loan will affect your credit, and how you can get the most bang for your buck will save you headaches—and debt—down the road.
Have a specific question in mind? Use the links below to get straight to the information you need:
What Are the Steps for Getting a Car Loan?
Throughout the financing process, remember that you’re shopping for two different products: the car and the car loan. Before setting foot on a dealership, take the time to weigh all your options so you feel 100% certain that investing in a new car is the best decision for your financial health as a whole.
Start with a Budget
If you don’t have a monthly budget, it’s time to create one. Assess all the monthly debt payments you currently have—such as rent, student loans, and credit card bills—and then figure out how much you’ll be able to afford on a monthly car payment.
Your car payment calculations should include not only the amount paid back to the lender, but also gas, insurance, and maintenance fees. If you come up with a number that won’t work with your income, consider saving for a larger down payment so you won’t have to take out a large car loan.
Check Your Credit Score
Request a copy of your free credit report to determine how your score will affect the loan shopping process. When doling out the best rates, lenders look for a score of 760 or higher and will give you a better deal the higher your score. Payment history, debt-to-income ratio, and the history of your credit lines all affect that magic three-digit number.
Start by fixing any inaccuracies you find on your report that could be dragging down your score. Within a month or two, you should see the mistakes removed which may make your number rise. If you aren’t in a rush to purchase the car, work on bringing your score up to help you get more favorable loans when it does come time to apply.
If you don’t have the time or ability to raise your credit score before purchasing the car, you could find a co-signer for the loan. Consider asking a parent, friend, or family member with a good score to co-sign. It’s important to remember that the co-signer is responsible for paying back the loan if you’re unable to make the monthly payments, and the credit score of both you and the co-signer will be affected by late or missed payments.
Explore All Your Loan Options
There are two main ways to get a car loan: direct lending and dealership financing. After picking out the car you want to buy, consider which option makes the most sense for you.
Direct Lending
Direct lending entails receiving a loan from a bank, credit union, or online lender. You’ll agree on the amount of the loan and the finance charge, or interest rate, that you’ll pay on the loan. Some things to note about receiving direct lending:
Banks often offer competitive interest rates but are more exclusive about who they offer a loan to. It is more likely you will need to have a good or excellent credit score to obtain a desirable loan from a bank. You don’t usually have to be a member at the bank to apply for an auto loan or get pre-approval.
Credit unions may have an easier loan application process and lower interest rates. However, you must be a member to apply for a loan.
Online lending websites often contact several lenders at the same time so you can easily obtain competing loan offers. Just like a bank or credit union, you will determine the terms of the loan with the lender. Make sure to always do background research on each lender you contact to ensure they aren’t predatory lenders.
Dealership Financing
Some dealerships offer on-site financing, which means you agree on the loan amount and interest rate with the dealer. Here are some things to keep in mind:
The dealer will gather all your information and send it to one or more prospective auto lenders, who will then give the dealer a “buy rate.” This could be higher than the interest rate you negotiate because it could include a compensation fee for the dealer handling your loan.
Because you are treating the dealership as a one-stop-shop for all your car needs, you might be offered special deals or rebates that include low interest rates.
Get Pre-Approval
Whichever financing option you decide to pursue, don’t just take the first loan offer that comes your way. Take the time to shop around and get competing rates through the pre-approval process. This entails asking multiple lenders to look at your credit report and draft up the loan amount and interest rate they’d be willing to offer you.
Pre-approval may give you more bargaining power with a dealership than if you went in without a financing plan. You also might be able to hunt down the best deals because lenders are competing for your business. Remember, just because you receive pre-approval from a lender doesn’t mean you have to take their offer.
An important element of loan shopping is keeping your pre-approval applications and final loan applications within a short window of time. Every time a lender looks at your credit report, it triggers a hard inquiry. If you build up too many hard inquiries, it could lower your credit score.
Fortunately, Turbo uses VantageScore, one of the common scoring models, which offers a 14-day grace period. If multiple hard inquiries are made during this time period for an auto loan, it will only be counted as a single inquiry—thus protecting your score.
Negotiate the Total Cost
Once you’ve found a lender that you want to finance your car loan, consider negotiating the final deal. This includes:
Length of the loan. Typically, a shorter loan will have higher monthly payments but lower interest rates. A longer loan will have smaller monthly payments and higher interest rates.
APR and interest rate. Depending on your pre-approval offers, you might be able to negotiate for a lower interest rate. This means you’ll pay the lender less to borrow the money over the length of the loan.
Additional add-ons. Extended warranties or additional insurance can raise the total cost of the loan.
Special offers or discounts. If you’re getting your loan through a dealership, use the negotiation process to ask about any manufacturer rebates that could get you a lower price on the car, therefore reducing the amount of money you need to borrow.
Close the Deal
Before driving off into the sunset, make sure to tie up any loose ends that could impact your car loan. Per the federal Truth in Lending Act, lenders are required to provide you with important information about your agreement so you can verify all the terms match what you discussed.
Sign all paperwork before taking your new car home, and make sure you have multiple ways to contact your lender if you ever have any questions. Whether you make online or by-mail monthly payments will be discussed during the negotiation process. It’s crucial that you pay these back on time every month to avoid severe late fees or repossession of your brand new set of wheels.
Will Trading In my Car Affect an Auto Loan?
If you plan to trade in your current car before purchasing a new one, it could lower the total cost of your car loan. The credit or cash you receive from the trade-in can be put to use as a down payment, thus reducing the amount you need to borrow from a lender.
Before trading in, make sure you know whether the total amount you still owe on your car is less than what it’s worth. Carrying an old auto loan onto a new auto loan may raise your interest rates and limit your options for the best deals. While trading-in can significantly help some buyers, it may not always be the best option if you want to get a favorable loan for your new vehicle.
Can I Get a Car Loan with Bad Credit?
Despite many lenders being wary of borrowers with poor credit scores, there are still options available to obtain a car loan. As mentioned earlier, paying off any existing debt, finding a co-signer, or saving for a larger down payment are all ways to help offset bad credit.
However, if the purchase can’t wait, lenders may still offer you a loan—but likely at a high price. Interest rates and additional fees skyrocket for borrowers with less-than-ideal credit scores, and it may dig you into a deeper hole of debt than you started with.
If you think you might be late on a payment, contact your lender immediately to discuss the possibility of adjusting your payment plan. While most of the original terms you negotiate will likely stay the same, you may be able to make a delayed payment. But if you consistently default on your payments, the lender is allowed to repossess your car, sell it, and use the money to pay off your remaining debt.
Despite its complexities, getting a car loan can be a straightforward process if you make a strategic plan. Assess your current financial health, loan shop, and negotiate a deal that suits your needs; in no time you’ll be able to hit the streets with a shiny new toy and feel confident in your abilities to manage debt.
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Mortgage rates have nearly doubled to around 6.5% from the beginning of this year, but they may have not peaked, putting pressure on affordability for most prospective buyers as the Federal Reserve vows to tame inflation.
Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% in 2023. Goldman Sachs predicts a 75 bps hike at the November meeting followed by a 50 bps raise in December and a 25 bps increase in January 2023.
Interest rates can move higher as the economy stays firm, Logan Mohtashami, Lead Analyst at HousingWire said. “However, this is all about a tug of war between how long the economy can still be expanding.”
The Fed’s short-term rate does not directly impact long-term mortgage rates but it does steer market activity to create higher rates and reduce demand. Time will tell whether the mortgage market had already priced in expectation of the Fed’s rate hike on Wednesday, but in the months ahead, many industry watchers forecast mortgage rates to continue their climb until the central bank changes its monetary policy.
“Before the Federal Reserve raised the federal funds rate by 0.75 percentage point this week, mortgage rates had already risen by a similar amount,” said Holden Lewis, home and mortgage expert at NerdWallet. “Now the Fed has signaled that it will hike rates several more times this year and next year, so mortgage rates have plenty of room to go up even more.”
“The trickle-down effect of rising borrowing costs means that homebuyers will continue to feel higher monthly payments,” added George Ratiu, manager of economics research at Realtor.com.
With the rate for a 30-year mortgage 300 basis points higher than in 2021, the buyer of a median-priced home this week is facing a monthly payment that is 66% higher than the same week in 2021, Ratiu noted.
Marty Green, principal with mortgage law firm Polunsky Beitel Green, described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”
“Where ‘inventory’ was the big concern in 2021 and early 2022, the concern today is ‘affordability,’ with the combination of substantial price increases and rising rates simply pricing more and more Americans out of the market,” Green said.
The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies. Existing home sales declined for seven consecutive months in August, declining 0.4% to a seasonally adjusted annual rate of 4.8 million units last month from July, according to the National Association of Realtors (NAR). Existing home sales are down 19.9% year-over-year.
Although home price growth slowed and demand has weakened, tight supply is keeping prices elevated. The median existing house price increased 7.7% from a year earlier to $389,500 in August. While housing prices typically slow in July and August, they surged to an all-time-high of $413,800 in June.
With the mortgage industry accepting the current rate environment as a “necessary period of adjustment,” lenders are expected to roll out “creative mortgage products” to entice more borrowers, said Kurt Carlton, co-founder and president of real estate investment firm New Western.
“We do not see new construction returning in a meaningful way any time soon. Our macro-outlook is that demand for housing will remain out of balance with supply for the mid to long term,” Carlton said.
According to the NAR, there were 1.28 million existing homes on the market in August and would take 3.2 months to exhaust the current inventory of existing homes at last month’s sales pace. A five-to-seven-month supply is viewed as a healthy balance between supply and demand.
Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment.
Will Savage, a loan originator at PMC Mortgage, sees many pre-approved clients having to get reapproved for a mortgage based on the rate increases.
With higher monthly mortgage payments, buyers who had money are getting spooked and some those with less financial stability are getting priced out, Savage explained.
“They (buyers with less financial stability) are having to go to surrounding towns instead of where everybody wants to be because they can no longer afford the more desirable locations.”
And for those shoppers who choose to buy, “they may be more likely to select an adjustable-rate mortgage (ARM) because their initial payments will be lower than those they would find with a fixed rate mortgage,” said Michele Raneri, vice president of U.S. research and consulting at TransUnion.
The way ARMs work is lenders offer lower mortgage rates for the initial term, generally three, five, or seven years. After that initial period ends, rates adjust periodically based on a benchmark or index, such as the Secured Overnight Financing Rate (SOFR), based on actual transactions in the Treasury repurchase market.
About 9.1% of total mortgage applications were for ARMs for the week ending Sep. 16, according to the Mortgage Bankers Association (MBA). The volume is slightly lower than in May when it hit a 14-year high of nearly 11% of the overall residential mortgage applications.
While some housing market watchers, including Ratiu, expect that household finances will get squeezed by rising costs and a shortage of homes for sale, some hopeful loan officers see opportunities for buyers as they may be seeing price cuts.
“We are already starting to have sellers realize we had a great run for a couple years and we’re getting more inventory,” said Matt Topping, a senior loan officer at Movement Mortgage.
“Buyers are going to have more choices than they’ve had in the last couple of years. They’re also going to have less competition and I think they’re going to be sellers who are more amenable to things they may have not even considered six months ago, a year ago.”
Over the past eight years I have been buying and selling items on Irfanview (Windows only, Mac users can use iPhoto). Once open, go to Image > Resize / Resample and click the 800×600 option, then OK. Save these to a new location. Since eBay only gives you one photo for free, use a free web photo hosting solution for the other images to be listed in your auction. Some of these sites are:
They all provide code to place them into eBay auctions and are free to use. I’ve been using xs.to for sometime and never had a problem. Simple and straight forward.
Spell Check
Take two minutes and reread what you wrote, make sure it makes sense and there are no spelling errors. Not only will this make the auction more valid for your potential buyer, it is the right thing to do.
Explain Shipping & Handling Fees Up Front
When listing your auction, eBay has the boxes you can use for shipping, flat rate, by weight, etc. I think it is also worth listing in the auction itself what the shipping & handling fees are, where you will and won’t ship to, what the insurance options are, etc.
My experience is that buyers prefer flat rate shipping, so you will need to determine what your item weighs packed up and what the rate is from who you will use as a shipper (UPS, USPS, FedEx, etc.). I usually add $1-4 to that to cover my costs of the box, packing material and gas to drive to where I’m mailing it from. Insurance is an option in the listing process, you the seller decide if you want to make it required, optional or not available. I usually use the optional portion, 50% of the time the buyer will want it, and the other half they won’t.
Create a Disclaimer
At the bottom of all my auctions I use something similar to the following:
I have listed this item to the best of my ability. If you have any questions, please contact me with at least 24 hours prior to the auction ending so I may reply to them. Payment is expected within three days of the auction ending, PayPal is the preferred method. The item will be shipped within one business day after payment has been received. Insurance is optional, however it is recommended. Please leave positive feedback for me when the item arrives, I will do the same for after you have left feedback for me. If for some reason there is an issue with the item when it arrives, please contact me ASAP to address it.
Reply to All Questions in a Timely Manner
Common sense here folks. Don’t list an item and go on vacation. Do check your email and eBay account at least twice a day to look for questions. Reply to them in a timely manner and address each question to the best of your ability.
Ship Fast
If you can, ship an item the day of payment or the following day. This will help build a positive feedback rating for you as a fast shipper, something a lot of buyers look for. No one wants to pay for something on Monday to find out it hasn’t shipped out till Friday. Take this into consideration when listing your item.
Use PayPal
PayPal allows instant payment and the ability for you the seller to receive credit card payments. By doing so, you have now enabled someone who may not have the cash to purchase your item to do so by putting it on their credit card. Additionally, it allows you to track payments and create shipping labels for both USPS and UPS. Using the built-in option for shipping labels will also send notification to the buyer that the item has shipped and what the tracking number is, one less thing you need to do. There are too many instances where checks and money orders bounce, get lost in the mail, etc. to make them worth while. Additionally, it adds time until the buyer receives their item.
Promote Your Auction
On any given day there are millions of items listed. Just having a clever title isn’t good enough anymore. You need to tell people you have an auction. Get on the social network of your choice and make a blog or bulletin post announcing your auctions. Don’t go around spamming people, but once when you list the auction and another the day before the auction ends can help drive extra traffic to your auctions.
Lastly, build relationships. Use the feedback options on all auctions, making sure to emphasize what the buyer has done right, using terms like fast payment or painless transaction. This will make you seem much more human and more buyers will want to deal with you. Should an issue arise, do everything in your power to resolve it as fast as possible.