Three Immediate Actions to Reduce DebtDebt is something that many people have or have dealt with before. There are many ways to reduce it. Some ideas work much better than others. Today, I want to go over three things that you can do that will have a lasting effect on your debt.

Stop using your credit cards

Credit card debt is a major problem in this country. One way that you can change that is to stop using your credit cards. You will never get out of debt if you’re still using them for multiple purchases. Trying to get your credit card balance lower while you’re still using the cards doesn’t work. For years, I had a lot of credit card debt. I would make a payment and then use the credit card a few weeks later. I did that for years. My credit card fluctuated from $3400 – $3600. It didn’t start to get lower until I stopped using it.

I learned that you have to change your spending habits. I stopped using the credit card and opted to use my debit card instead. When it comes to credit, you’re using money that you haven’t made yet. It’s something that will need to be paid back. By changing your habits and using money that you have, your credit card debt will start to get lower.  When you stop using your credit card, you may not want to close the account down. Credit cards with low balances can be good for your credit score.

Pay more than the minimum

Credit card and loan companies are happy when you only make a minimum payment. A lot of that payment only goes to the interest. That is how a lot of these companies make money. To get ahead and to get out of debt, you should start paying more than the minimum amount as soon as possible. Paying an extra $20 – $30 can help your debt go down faster. If you want to pay more than that, you can start side hustling. All the money that you make from your side hustle can then go towards the debt. That way, you will be paying more than the minimum payment, thus not paying as much in interest.

Find support

The final action is to find support from your friends and family. Fighting debt can be a struggle. It can be tough trying to do things on your own. You will have ups and downs. Getting out of debt isn’t something that can happen in a few weeks. Depending on the amount of debt you have, it can take years.

Your friends and family can help to keep you motivated while you’re working towards your debt free goal. Check in with them periodically to let them know where your progress is. If you feel like you’re struggling with the debt, let them know. They will probably be able to get you motivated again.

Reducing your debt may take some time, but it can happen. Not using your credit cards, paying more than the minimum payment and finding a support group are a few ways that can help you. Stay focus, and you can make it happen.

Disease Called Debt

Investing in Auto InsuranceIf you’re a driver, please make sure that you have auto insurance. It is one of the most important things that any driver can have. Auto insurance protects drivers in case they get into a crash by providing them with coverage for car costs and possible medical bills. Before you purchase the insurance, there are a few things that you should go over.

Consider paying the premium at once

A lot of auto insurance companies offer six-month premium plans. You may have the option to pay it monthly, or you can pay it at once. If you want to save money, you should pay the premium at once. I’ll be the first to say that I still pay my car insurance monthly. I’m not at the point to drop over $600 every six months on it yet. As my debt continues to go down and y side income rises, that will eventually change. Hopefully, the change is sooner than later. If you pay your insurance monthly remember that the company will charge you a fee for the convenience. I’m charged an extra $5 each month.

Discounts

When looking for insurance ask your agent about the potential discounts that they offer. There are a lot of different ones out there such as having anti-lock brakes, having a good driving record or showing them documentation that you have completed a defensive driving course. I have several discounts on my policy. It saves me at least $70 on my premium.

Drive safely

The next step is to drive safely. People with clean driving records usually pay the least for their auto insurance premiums. Don’t be a reckless driver is you can help it. Accidents, tickets and moving violations can raise your premium. I’ve known people whose premiums went up by a couple of hundred bucks because of accidents and tickets. Your premium will go up because the company will look at you as a risk. If you don’t want to be considered as a risk and charged more, make sure that you obey the law and drive safely.

Switching your insurance

If you decide to switch auto insurance providers, make sure that you remember to cancel your old policy before you accept the new one. You don’t want to be paying money for one that you’re not using anymore.  Auto insurance can be pretty expensive. Make sure that you cancel the old policy so that there is no period of double payment.

How much coverage do you need?

Before you purchase your premium, figure out how much coverage you need. The lowest coverage accepted by your state may differ from other states. Make sure that you have the correct amount because you don’t want to get into any trouble.

Extra features

If you’re looking to save money, don’t add features to your car that will increase its value. If you do that your rates will increase. Insurance companies will look at you as a risk. Those extra features could make you a target for a thief. That’s why the insurance company will increase your rates.

Auto insurance is something that every driver needs. It will help them if they ever get into an accident. Make sure that you are getting the best price for it.

 

Do Food Stamps Roll Over?

by Jason Butler on February 13, 2017 · 1 comment

Do Food Stamps Roll Over?Many people in the country are on food stamps. They come in handy if you have a change in income or if you lose your job. I was asked an interesting question the other day. Do food stamps roll over? What Are Food Stamps?

What Are Food Stamps?

SNAP (Supplemental Nutrition Assistance Program) grant food stamps to low-income families and individuals. These food stamps are actually vouchers which are issued by SNAP to help people in attaining the nutritious and healthy groceries and food items. SNAP’s aim is to eliminate malnutrition and hunger along with making the low-income families self-sufficient. These food stamps are food benefits that are issued on EBT cards and can be utilized each month for up to a year. SNAP funds are deposited every month into the EBT accounts of the eligible people. The dates may differ according to the case numbers, but they are deposited until 18th of each month. SNAP cards or EBT (Electronic Benefits Transfer) cards can be swiped at eligible stores card machines and can be used to buy food items such as dairy, meat, cooking items, etc.

Account Details

People who have been issued the EBT cards can check their account details by clicking on COMPASS Website. The COMPASS stands for common point of access to social services. Through the website all social services are accessible. To know the details of EBT account, people can enter their account numbers in the services section. After logging in, they can check the remaining balance.

One Year Rule

The benefits are valid for 365 days from the issue date. If the food stamps are not used within a year, they expire. If someone’s account is inactive, and they fail to get the benefits within 365 days, any food stamps left on the card will be canceled, and the account will be closed. If that person requires benefits, he/she will have to apply again. In all states, and in most cases, if a person doesn’t use the benefits of a month, they are transferred to the next month on their EBT cards. The EBT cards are valid in all states except Puerto Rico.

Benefits after closing the Case

If someone closes their case and there are still benefits on their EBT card, they can use them. Although in some conditions the benefits will be canceled. If a person is convicted of fraudulent or criminal activities, he /she will not be able to receive benefits. However, depending on the state, the implications may vary.

EBT cards expiration

All states use SNAP cards to deliver food stamps or other monetary assistance for low-income families. The cards have different names in different states. In New York, the SNAP card is called benefit card, whereas, in Ohio, it is called a Direction Card.
These cards may expire, validity may differ state wise. In Florida, the cards expire after every four years, and it is automatically replaced by a new card. In Massachusetts, the EBT cards never expire. In case someone loses their EBT cards they can contact the EBT customer care or service center in their states. The Department of Agriculture’s Food and Nutrition Services website provides a complete list of phone numbers of EBT customer care for all states.

How to Pay For Plastic Surgery With Bad Credit?

February 10, 2017

Hello, everyone.  Plastic surgery is something that I’ve never thought about before. I’m okay with my looks, and it’s expensive.  Sometimes people have accidents, or they want to change their appearance up (The Kardashians). Plastic surgery is a permanent way to get that done.  Everyone who wants to get plastic surgery may not have the […]

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Do You Tip House Painters?

February 8, 2017

Hello, Dinks. Tipping is something that most people agree with doing. I tip at restaurants, and I usually tip my Uber drivers. When you tip people, you are showing the workers that you appreciate the job that they are doing. There are other professions that may deserve tips as well. If you have your own […]

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Creative Grocery Shopping Tips

February 6, 2017

Hello everyone. Last week I wrote a post on capping grocery expenses. Today I want to go in depth about some shopping tips. Feeding yourself and your significant other is the most important thing you must do. Without food, humans won’t survive. Food isn’t free, though. If you don’t work or have money, you won’t […]

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Can Payment Be Stopped on a Cashiers Check?

February 3, 2017

Good morning Dinks. Today’s article asks an important question. Can payment be stopped on a cashier’s check? That’s a question that I never thought about before. I didn’t know the answer until a couple of days ago. Before I respond to that question, I want to briefly discuss what a cashier’s check is. What is a […]

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How Much Interest Does 1 Million Dollars Earn Per Year?

February 1, 2017

Hello, Dinks. In today’s post, I will be going over a pretty interesting topic. A million dollars is a lot of money. For most people, that amount of money will change their lives. I know for a fact that it would change mine.  Have you ever considered how much interest 1 million dollars could earn […]

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Free Brokerage Review: Loyal3 vs Robinhood

January 30, 2017

Investing in the stock market is one way to make some extra money over a period of time. Investing in stocks can be a little expensive sometimes. There are two platforms out there to help people trade for free. Yes, it is truly free to trade. Keep reading to learn more about Loyal3 and Robinhood. […]

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