Check out the 5 financial tips for the first week of March 2012.
Tip no 1 - A High Deductible Health Plan (HDHP) combined with a Health Savings Account (HSA) will let you save tax free dollars.
You get tax advantages after enrolling into HDHP and HSA. Your money goes towards the HAS before taxes. You can withdraw money anytime. You can take away money on the present day or in future, but you won’t have to pay tax. However, you can take advantage of this facility only when you use the money for medical expenditures. The money you earn on HSA is absolutely tax free. You can invest the money in mutual bonds and reap profits.
Tip no 2 - Do your wedding shopping online to save money.
Wedding is a costly affair. You have so many things to buy for various pre-wedding and post-wedding celebrations. Moreover, you have to invite several people and book caterers for the wedding party.
You can reduce the wedding cost by shopping online. You can buy items on e-Bay at a low price. You can purchase decorative items, wedding dress, cake, etc. online. The best part is you can choose all the items while driving or sitting on your bed. It will help you save time and money. Make sure you place your order in advance. This will help you get the items before wedding date.
Tip no 3 - Drive less and use public transit to lower your auto insurance cost.
In the modern era, auto insurance has become the synonym of a car. You won’t be able to drive in the city or town without having an auto insurance policy. The premiums of the auto insurance policies are quite high. If you want to purchase an auto insurance policy at low cost, then you need to reduce annual mileage of the car. The insurers will slash the premium rate if they see that you drive less. Start commuting to your office or school through public transport. This will help you lower the premiums and carbon-dioxide emission into the atmosphere.
Tip no 4- Try and pay a larger deductible for your insurance to reduce the cost of the premium.
Larger deductible means lower insurance cost. It is as simple as that. If you opt for a large deductible, then the insurance company will agree for a large deduction in the premiums. The insurer knows that you'll pay a sizeable amount while filing an insurance claim. They will have to pay a small amount when your car meets an unfortunate accident. This is why they will charge a low premium rate. However, choose the deductible amount carefully. Select an amount which you can pay at the time of making an insurance claim.
Tip no 5 - Take advantage of financial grants available to a single parent.
The federal government offers financial grants to the single parents. The government knows that it is very difficult to raise children single handedly. If a single parent can prove that he/she needs financial grant to raise children, then the person may get financial support from the government. Find out the criteria to qualify for financial grants. See, if you fulfill each criterion. Thereafter, gather the relevant forms and documents. Fill out the application forms correctly. Make sure you don’t fabricate any information. Otherwise, you may not qualify for the financial grant even after fulfilling the criteria.
With proper help you can
- Lower your monthly payments
- Reduce credit card interest rates
- Waive late fees
- Reduce collection calls
- Avoid bankruptcy
- Have only one monthly payment