Smart Strategies For Financial Recovery After A Car Crash

The growing number of traffic accidents in the U.S. shows the gravity of the situation. Even worse, a large proportion of these mishaps are completely avoidable because they happen due to the negligence of the drivers. Whatever their cause may be, accidents make life miserable for the injured victims. The miseries go beyond the pain and suffering of the injuries they suffer and extend to financial woes as well. There are massive medical bills to pay, vehicle damage to deal with, and lost income that gets finances off track. Fortunately, financial recovery after a car crash is easier than it sounds, provided that you take the right approach. Here are some smart strategies that can help.

Focus on physical recovery first

When you sustain injuries in a car accident, physical recovery should be on top of your mind. The first step should be seeing a doctor right after the accident because they will perform the requisite diagnostic tests and offer the right treatment to enable recovery. At times, you may have hidden injuries like concussions and damage to internal organs, which may start showing symptoms only after a few days. Seeing a doctor right away can be a life-saver as the most serious issues can be addressed at the earliest. At the same time, you will need the medical reports to validate your injuries when you file a compensation claim from the negligent driver.

Get legal help to claim compensation

Once you get medical help for your injuries, it is time to start working on your financial recovery. If the accident has happened due to the recklessness of the other driver, you are in a vantage position financially. It is your legal right to claim compensation for your injuries and get your finances back on track. Start looking for the best car accident attorneys you can depend on so that you can get the settlement value you deserve. Although the insurance company would want you to settle for a lowball offer, your lawyer will make sure that you get enough to cover your treatment expenses, pain and suffering, lost wages and long-term disability.

Rework on your budget

Even as there is hope that you will get enough compensation from a personal injury claim, the process can take a few months to sort out. Meanwhile, you will have to keep your finances afloat while bearing your treatment expenses and paying other bills. Things can get challenging if you are the sole earner or major financial contributor in the family. The best approach would be to rework your budget so that you can make ends meet till the claim comes through. Consider cutting back on luxuries and sticking only to the essentials in monthly expenses. Even if you have an emergency fund, avoid using it.

Protect your credit

Piling expenses and lost wages may seem like good reasons to borrow, but you will end up damaging your credit with loans. While avoiding loans is a good idea, you can limit them to minimal if you still need to borrow. Try looking for ones that charge the lowest rate of interest and be regular with repayments because not paying back on time can cause extensive damage to your credit score. You may even discuss flexible repayment arrangements, such as monthly installments, with the lenders to get through the tough time till you get your compensation claim.

Find a side hustle

Even as your injuries leave you stranded home and without a job, you can start looking for side hustles to bring some extra dollars for the house every month. Thankfully, several side hustles enable you to make thousands, even from the living room couch. Try finding freelance projects in writing, software development and design if you have the right kind of technical skills. Even simple data entry projects can get you enough to sustain. Your family members can also pitch in by taking up side hustles or part-time jobs during the crisis.

Ask for help

If nothing seems to work and your money woes seem to get worse, you may consider asking family or friends for help. Hard as it may sound, this may be the only way to get out of trouble at times. You will find many who are willing to lend a hand through the tough time. Do assure them that you will return the money once you get your compensation from the guilty driver.

A car accident is unfortunate, but it is not the end of the world. There is a lot you can do to rebuild your finances and get them back on track. Ultimately, everything boils down to finding a lawyer who can help you get justice and the compensation you and your family deserve.

6 Effective Tips to Handle Financial Stress During COVID-19

The Covid-19 pandemic changed everyone’s life. Only a handful of people might not have been affected by the virus when it comes to their jobs, safety, and livelihood. But the majority of people worldwide have taken a big hit financially. Some people are holding on until the pandemic passes, while others are so close to losing their minds because of how hard it is for them to live normally and maintain their financial security that can keep them satisfied. Read on to learn more about our 6 tips that can help you cope with financial stress effectively amidst the coronavirus outbreak.

1. Find Alternative Methods of Earning Income

One of the most important tips that you sorely need, is to find alternative methods of earning income. This means you need to think about freelancing, side hustles, or some gig work to make some extra cash. You can find numerous virtual jobs that can allow you to work from home and still earn a side salary. The world has changed, nowadays, and going digital is the future for a lot of careers and businesses. You will have a lot of extra time at some point and you need to use that time to make money. However, make sure that you don’t give up on your main job, especially if it is your dream job. When the coronavirus outbreak ends, you could see things getting back to normal.

2. Never Neglect Yourself

You should never neglect yourself, whether it’s physically or mentally. You need to be of sound mind and with a healthy body, especially if you were forced to make hard decisions. The pandemic has made people go through hardships that ultimately made them decide to file for bankruptcy. If the odds aren’t in your favor when it comes to debt, rent, and insurance in San Diego, then you need a lifeline that can give you a second chance. The bankruptcy attorneys at believe that having a fresh start after a bankruptcy process can reduce your stress levels. This might be embarrassing, stressful, and scary for everyone, but you need to have people around you for support and guidance. You need to stay physically active, maintain a healthy diet, and continue to talk with your closest family members and friends about how you feel. You don’t need to carry the burden alone. 

3. Learn to Prioritize Your Payments

People should start prioritizing their payments because these are tough times and the old rules of repaying your debts do not apply. This means that your priority should be taking care of your basic needs. Whether it’s food, clothing, transportation, health, or shelter.  Learn how to manage your anxiety because you shouldn’t be overthinking or panicking too much about bills or credit card payments, it’s okay if you don’t pay them on time. Most governments and banks are bending the rules slightly for people and they can give you ample time to pay them back. Contact the utility companies and banks to let them know about your situation. They can assist you in coming up with a repayment plan that won’t stretch you too thin.

4. Seek Advice

It wouldn’t hurt to seek advice from the people that have gone through similar situations where they took financial hits. There were a couple of big recessions over the years and the people that lived through those days can provide excellent advice that can get you through this pandemic. They have the experience and could give you pointers. You can learn from them the things they wish they had known during their tough times in the economy. This knowledge can help you stay sharp and smart with your decisions. You can get the reassurance you need to hold on. They can explain to you how they got themselves out of situations that seemed dire and unbeatable, but they thrived and rose above the hardships. You just need patience and perseverance to get you through the pandemic just like how they got through past recessions.  

5. Use Your Line of Credit 

Having a line of credit can be very convenient during these troubling times because cash will get low for numerous people. The amazing aspect of lines of credit is that you can tap into it without putting up any collateral, making the assets that you own safe from risk. Also, it will make you rest easy because interest rates are very low. You can use this to fund your basic needs without worrying too much. Ask around and find the most suitable bank that has lines of credit available for you. It can save you in tight situations and emergencies where you don’t have any cash on hand. Whether it’s a secured, unsecured, or on-demand line of credit, you can rest assured that you can stay financially safe and have excellent interest rates for repayments.

6. Make a Schedule System 

You need to create some sort of a scheduling system to give yourself something to look forward to. This can be something simple like your personal agenda to write down what you plan on doing on any given day. Set some realistic hours and timings for each activity you want to do. Whether it’s for working at home, exercising, hobbies, applying for benefits, making some phone calls, and a lot more. Staying at home without a purpose and just watching the bad news unfold in the world can drive anyone insane. Having a solid system for your daily activities and tasks can keep you sane and feeling happy. The schedules need to be consistent to keep yourself busy and excited. 

Taking financial hits isn’t easy on people and everyone has their breaking point. Most of the negative impact that happened because of the virus was unexpected and this is mainly why people are scared. Not knowing when it will end and thinking of ways to get by financially after getting laid off is a daily struggle for millions of people worldwide. But you need to stay strong, persevere, and address the situation calmly. This global pandemic will end soon and although some aspects of our lives might not be the same again, we can get through this and rise above the issues we’re facing.

I Need Money Today! What to Do When You Need Money Fast

Only 29% of Americans have six months of expenses saved. Of that, only 18% have enough to cover five months of expenses. Meanwhile, 25% of the country has no emergency savings.

At all.

You never know when an emergency situation (like COVID-19) could put you out of a job or in need of quick cash. If you need money today, don’t panic. Instead, keep reading for eight tips that can help you get cash fast.

With these tips, you can allocate the money you need and maybe even save a little for the future. Discover how to get cash fast with these easy tips today!

1. Make a Plan to Start Saving

About 30% of America’s workforce has less than $1,000 in their savings accounts. Meanwhile, 42% of the country is living paycheck to paycheck.

Before you learn how to get cash fast today, prepare yourself for the future. Making a plan now can help you avoid this same situation down the road.

First, gather as much information about your spending habits as you can. Grab your bank statements, receipts, and determine your debts. Where can you start cutting costs?

It helps to separate your expenses into categories. For example, you can make categories for food, entertainment, and transportation. Separate your debts into their own sections.

Then, look for places where you can cut costs. Trim out unnecessary expenses like subscription boxes or TV subscriptions. You don’t need Netflix, Hulu, and Amazon Prime, do you?

Set a budget for each category. For example, you can have a weekly budget for groceries. Then, plan your meals to avoid impulse buys the next time you go shopping.

By making a plan to save instead of spend, you can start building a nest egg for your next rainy day.

2. Garage Sales

Do you have a lot of junk lying around the house! Get rid of it and make money off of it. One of the fastest and easiest ways to get cash fast is to sell your stuff.

Go room to room and grab items you no longer use. If you’re feeling conflicted, ask yourself if you’ve used that item in the last 12 months. If you haven’t, chances are you won’t use it within the next year, either.

Instead of letting those possessions clutter your home, make money off of it.

Gather different items (to appeal to different buyers), too. These can include:

  • Old electronics (computers, printers, TVs)
  • Music albums, CDs, and movies
  • Jewelry
  • Children’s toys
  • Clothing and shoes
  • Books
  • Silverware and dishware

Don’t forget to attract a crowd! Advertising is key. You can post signs around town or use social media to attract buyers.

Have friends and family members spread the word. Many cities have local Facebook Yard Sale groups you can advertise on, too.

3. Sell Your Stuff Online

Do you still have a lot of stuff leftover from your garage sale? That’s okay. You can attract an even bigger audience of buyers by heading online.

When you need money today, this is an easy way to make quick cash.

Make sure to take high-quality photos of the items you’re selling. Use a contrasting color background to help the product stand out. You’re more likely to attract buyers with crisp images.

Then, use eBay or Amazon Marketplace to start selling.

Do you have a lot of textbooks leftover from college? Try selling those on Amazon Marketplace, a bookstore online, or on your school’s website.

Do you have gift cards you never plan on using from a previous birthday? You can make money off those, too. That’s money just lying around.

Don’t let those gift cards expire. Instead, use a gift card exchange website like the next time you need cash fast.

Maybe you have old cell phones collecting dust around your house? You can sell those online, too.

If your old tech doesn’t attract buyers, look for an ecoATM kiosk around town. These kiosks will analyze your phone to determine its condition and model number. Then, the kiosk will tell you the phone’s value.

Don’t forget to try Craigslist and eBay!

4. Rent a Room Out

Do you have an extra room or property you rarely use? If you need money fast, consider renting the room out.

For example, you can start renting a room out quickly through Airbnb. Don’t forget to start advertising. Take high-quality photos and spread the word using social media to attract guests!

5. Sell What You Know

Do you have a lot of experience with marketing, business, or in another industry? Sell what you know by creating a website. Blogging will help you make passive income once you post ads on your site.

You can also combine your knowledge into an eBook to sell, too.

Maybe you’re good at graphic design or copywriting? You can also sell your skills on Fiverr to make quick cash.

6. Look into Loans

If you need money today, you might want to consider getting a loan. A cash advance or payday loan is an easy way to get quick cash. Before you go, make sure you have a strong credit score.

Make sure you know what to expect. You can find more information about pawn loans for vehicles here.

7. Drive Around

Consider picking up a side gig before the next time you need money fast. For example, you can get a job as an Uber or Lyft driver. With more people ordering food and groceries, these jobs are in high demand.

Make sure you have good car insurance and a well-running vehicle. After all, you don’t want to break down in the middle of a delivery.

These jobs usually let you work based on your own schedule, making them ideal when you need a quick buck.

8. Ask For Help

You might decide this is the last resort when you need cash fast. However, there’s nothing wrong with asking for help. While it might feel awkward at first, it’s sometimes the best option when you need money today.

Ask if you can earn the money by helping out. Maybe you can offer your services as a hairstylist, makeup artist, or hemming clothes. Put your unique skill set to work and start making some quick cash!

Need Money Today?: 8 Tips That Can Help You Get Cash Fast

Need money today? These eight tips can help you discover how to get cash fast. With these tips, you can take a breath and make a plan of action.

After that, start saving for the next rainy day!

Explore our Make Money Online posts for more helpful tips.

5 Benefits of the Recurring Deposit that You Need to Know

A recurring deposit is a term deposit which allows you to save a fixed amount of your income every month. Generally, financial institutions such as banks and the Post Office offer this kind of savings option. In a recurring deposit, you can contribute a small sum to build a substantial financial corpse and earn interest. Often, salaried individuals tend to opt for a recurring deposit account.

You can choose the timeline for long will your recurring deposit account will span. Usually, it spans from a minimum of six months to ten years. Also, to open a recurring deposit, all you need a meagre amount of 10 rupees.

In this article, we have listed some more benefits of recurring deposit:

Online availability:

With banks going digital, today, you can open a recurring deposit account from the comfort of your home. You can also carry out various activities online, such as:

  • Deposit money in recurring deposit (RD) account,
  • Close the RD account,
  • Open another RD,
  • Update information,
  • View transactions,
  • Deposit details, etc.

Investing in an online recurring deposit means making an investment and earning interest without leaving the comfort of your home.

Interest rates:

The interest rates of a recurring deposit depend majorly on the tenure and deposit amount. However, there are chances that it can be very similar to that of fixed deposits. Generally, the interest rates for RD can vary anywhere between 7.25% to 9%. This variation depends on the financial institution’s offering and the plan that you opt for. Many banks offer a higher interest rate for senior citizens.

Easy investment:

While investing in the recurring deposit, you have to deposit a fixed sum every month. This investment will build up a savings discipline. This kind of saving works best for salaried individuals as it is easier to invest a certain amount every month. Additionally, RDs also come with guaranteed returns. The rate of interest for RD is often locked. This helps to protect the investor from interest rate swings.


Another benefit is that some banks offer flexibility the deposition of money every month. So, in case if you are unable to deposit money in any particular month, you will not have to pay a penalty fee. You can also withdraw your money from the account when you require and not wait for your account to mature.

These benefits of recurring deposit make it one of the safest ways to save finances.

Tips to Manage the Financial Fallout From an Auto Accident

Driving a car on a daily basis is a necessity for people all over the country. Most of the time, you will be able to get to and from your destination without any issues. However, auto accidents do happen from time to time, even if you are a safe driver.

Being involved in a car accident can be a very stressful and challenging situation. While it is most important to ensure that all people are safe and healthy, the financial ramifications that come with an auto accident can be difficult to manage. Fortunately, there are several tips you can follow to help you manage the financial fallout that comes with an auto accident.

File a Police Report

No matter the size of the accident that you are involved in, it is important that you file a police report to document the case. With a police report, you will be assured that both you and the other party will provide statements that will be part of the record. This can help to prevent the other party from denying responsibility in the future. The police report will then be shared with your insurance company, your car accident attorney and other involved parties.

During this process, you should also document the situation as much as possible. This should include taking pictures of the accident scene and exchanging information with the other party. You should also get the name and badge number of the police officer when they arrive to fill out the report.

Know Your Deductible

After you have been involved in an accident, it is important that you check your insurance policy and know what your deductible is. If you are not at fault in the accident and the other party claims full responsibility, you will not have to pay out of pocket at all. However, if you were at fault, you will need to pay your deductible before the auto insurance provider gives any coverage.

Deal With Your Insurance Company

One of the first phone calls that you should make after an accident should be to your insurance company to file a claim. Your insurance company will be able to start the process of filing a claim for you. To do this, you will need to provide information regarding the accident including the police report, contact information and insurance information for the other party, and your personal statement. You should continue to keep track of your insurance company’s progress filing the claim to ensure the other party approves it and you are properly reimbursed.

Injury Claims

Most of the time, auto accidents are minor enough that the people involved do not need medical attention. However, if you were hurt or feel pain, even the next day, it is important to receive the medical care that you need. This medical attention can often come with significant medical bills. If you were not at fault in the accident, the other party’s insurance should cover under the bodily injury liability component. If it is not covered under this, your own auto or medical insurance policies may provide the coverage that you need. You may also be able to bring a claim against the at-fault party to get the compensation you deserve to cover your medical expenses.

Repairing the Car

Managing a car repair after an accident can be frustrating. Not only will the repairs be expensive, but you could be without your car for longer than you’d like. Fortunately, if you have insurance in place that provides collision and comprehensive coverage, you will not have to worry about the repairs other than the deductible. Further, depending on your policy, you could also qualify for rental car coverage until you are able to get your car back.

Work With an Experienced Car Accident Lawyer

If you are having any financial challenges following your auto accident, it is important to discuss them with an auto accident attorney. Your car accident lawyer will provide you with support for filing claims and ensuring that you collect the compensation you deserve for your injuries.

Ultimately, your car accident attorney can help you to save money by ensuring all necessary parties, including your auto insurance provider and other parties in the accident, are covering their share of the financial burden. If necessary, the attorney can represent you in a legal claim against either your insurance provider or the other party in the accident.

Building your Dream Home? Solar Energy Options Make Total Sense

If you are in the enviable position of planning to build your dream home somewhere in Australia, you couldn’t have picked a better time for your project, as every Australian State is currently offering homeowners very attractive grants if they make the switch from National Grid electricity to the clean and renewable energy from the sun.

Single Investment – Continued Saving

While it is never going to be cheap to install a state-of-the-art solar power system in your new home, the state will certainly help you in that regard. The new home builders in Brisbane & Gold Coast, for example, would explain in great detail just how much of a grant you would receive, should you opt for clean energy solutions. Many Australian homeowners are reporting energy savings of up to 40%, and after a few years, the solar panels have been paid for and it is all savings from then on, with savings of around $2,000 per year on an average family home.

Flexible Options

You might, for example, wish to be totally energy independent by producing all of the energy you use at home, or you might prefer to still keep your electricity connection, to be used in the event you ever need it. Fortunately, Australia sees more sunlight than most countries in the world, so it is easy to remove yourself from the grid; plus, you can sell any extra energy you generate to a local company. The Australian government fully supports the use of clean and renewable energy by offering homeowners financial incentives when installing solar panels, so do mention this to the builder, who can quickly inform you of how much of a grant you will receive.

Major Components

The major components in a solar energy system are:

  1. Solar Panels – Fitted on the roof in a location where they receive maximum sunlight.
  2. Deep Cycle Batteries – These store the energy until such time as you need to use it.
  3. Invertors – They transform the solar energy into electricity.

The builder would be very knowledgeable about solar energy systems and can advise you on every aspect of the design, whether you require partial or complete clean energy.

Reduce your Carbon Footprint

It is a nice feeling to know that all the energy you are using is not the result of fossil-fuel burning – a major cause of global warming – and when you crunch the numbers, you will see a return on your investment within a few years. Solar power is the future and the best time to make the switch is when you are planning a new build, which would be subsidised by the state government, and this offer will not be on the table forever.

The builder you select for the project would probably recommend solar energy, as they are all too aware of the savings and the state grants, and with their help, you can have the perfect solar power system incorporated into the build.

5 Cash-Saving Travel Tips

If early retirement is your aim, what steps have you already taken to make your lifestyle as Spartan as possible?

Have you started to work from home in order to save cash on your commute?

Are you growing your own vegetables so that the supermarket doesn’t constantly drain your finances?

Have you started cutting your own hair, using an elaborate mirror arrangement in order to style it from every angle?

Or are you spending much of your spare time crafting your own shoes and clothing from discarded roadside garments and scraps of leather retrieved from junk-shop handbags?

If you’re making one (or several) of these thrifty moves, then well done – the cons of diminishing social skills and a slightly outlandish appearance are probably compensated by the pros of a bigger bank balance.

But what happens on those occasions when you can’t avoid travelling domestically or internationally, perhaps for an important business meeting or to mark a family occasion?

Fear not – these five cash-saving travel tips will prevent you splashing cash too excessively.

  1. Travel by train

Rather than having to concentrate on the road for hours in your car, avoiding falling asleep in traffic jams and filling your vehicle with prohibitively expensive petrol, save some cash and stress by travelling via train.

Take a look at Trainline for cheap tickets – massive savings are available for early bird bookings.

  1. Go by Bus

Don’t mind spending a few hours in a slightly less comfortable environment than a plane, in order to reach the same domestic destination for a fraction of the price?

Then it sounds like bus travel is your money-saving bag – is one of the best bargain services available.

  1. Pack your own provisions

Food is one expenditure factor that can ramp up your spending levels on the road – whether you buy it in a bus station, on a train or in an airport, it’s usually far pricier than elsewhere.

However, by packing your own long-lasting food like dehydrated fruit slices, dried beans and biltong, you can save money and stay satisfied – check out this article from The Prepping Guide for advice.

  1. Find cheap flights

There are some occasions when you can’t avoid flying – for instance if your destination is simply too far away to make travel by any other means practicable, or when you need to move fast to capitalise on an ad hoc business opportunity.

But that doesn’t mean you need to pay through the nose to fly – always check comparison sites like Skyscanner and Kayak to book the cheapest flights possible from a range of carriers.

  1. Book low-cost airport parking

When you live close to an airport, travelling there in your own vehicle often makes more sense than a long schlep on public transport – you can compose yourself in relative privacy and arrive calm and unruffled.

But book airport parking early to avoid hassle on arrival – has secure, low-cost spaces for every airport from East Midlands to Edinburgh.

So ends our list, but share your own thrifty travel tips in the comments section!

Financial Mistakes To Avoid If You Want To Keep Your Credit Clean

Keeping your credit clean is easier said than done. Our modern world is awash with spending pitfalls and if you’re like most people you’ve had little education on how to avoid them.

Learning as you go may sound like a good idea, but the reality is this can lead to some serious financial mistakes that can ruin your credit for years to come. That means it pays to educate yourself on any potential credit pitfalls before you accidentally learn by doing. 

Here’s your chance to do just that, these are 5 financial mistakes to avoid if you want to keep your credit clean:

Leasing That New Car

Leasing a new car may sound like a great idea. After all, you don’t have to pay full price just monthly payments, right? What could go wrong?

Well, it turns out, a lot.

Leasing a car an unaffordable car is one of the most common ways people hurt their credit scores. Remember, just because you are approved for a lease, doesn’t mean it’s a smart financial decision. 

There is a good rule of thumb for determining whether or not you are getting a good deal on a lease, however. It’s called the one percent rule. What you do is simply divide the monthly payment by the MSRP sticker price of the vehicle, if it’s close to or below 1% then it’s a good deal, if it isn’t then its a bad deal. Also, watch out for leasing fees they can end up costing thousands and are often hidden by dealers.

Still, even if you got a great deal on your lease and avoided all those crazy fees, you can still wreck your credit score by not making payments on time or defaulting on your lease. That’s why it’s so important to only lease what you can afford, or even better just buy a used beater and avoid the potential pitfall altogether. 

Buying A House

Buying a house can be a great investment, but it can also lead to financial ruin. Just ask anyone who bought in 2007 before the great recession. 

Low credit scores can lead to the need for larger downpayments and higher interest rates which can cost tens of thousands or more over the entire loan period. 

Home loans aren’t just affected by your credit score though, they can also drive it down considerably if you default or miss payments. 

If you are late on home loan payments lenders will usually give a 15-day grace period, then you will be charged a late fee. After 30 days, however, your lender will report the missed payment to the three credit bureaus(Equifax, Experian, and TransUnion), hurting your credit score. 

This means it’s vital to only buy a house if you can afford it. A good rule of thumb is to not spend more than 25% of your monthly income on mortgage payments. 

Getting A Payday Loan

Payday loans are one of the fastest ways you can ruin your credit. They really should be avoided at all costs. 

If you haven’t heard of a payday loan, they are small, short term loans with high-interest rates that are mostly targeted towards low-income borrowers who need extra cash to get them through the month. 

While most payday lenders don’t report to the national credit bureaus when a borrower first takes out a loan, your credit can still be affected by borrowing at such high-interest rates. 

This is because Payday loan companies sign a post-dated check corresponding with your next payday as collateral for your loan. Then, if you don’t have the funds in your account by your next pay date, when the lender cashes the check, it bounces hurting your credit score.

Also, your credit score can be affected by debt collection agencies hired by the payday loan company to help recoup their funds after you’ve missed a payment. And because the interest rates on these loans are so high many borrowers end up stuck in a never-ending cycle of missed payments, credit collection calls and tanking credit scores. 

Don’t let that be you, avoid getting a payday loan. 

Student Loan Disasters

Student loans can be great credit builders if you are consistent in your repayment plan. However, they can also really hurt your score if you default on your loans or make payments late. 

The situation can be even worse for international students. International student loans often carry higher interest rates and many times international students have more expenses so they take out larger loan amounts. This can lead to disaster if loans aren’t paid back promptly.

Your credit score is affected by student loans when private lenders report missed or late payments to the three major credit bureaus, which is usually done after 30 days. Federal lenders are more lenient, they usually report missed or late payments after 90 days, but still, if you want to avoid tanking your credit score then you’ll need to be on-time with your payments. 

Going Without Insurance

Did you know that 66.5% of all bankruptcies in the U.S were tied to medical issues? That’s an estimated 530,000 families who turn to bankruptcy each year because of medical bills, according to a recent article by CNBC.

It’s no secret that medical bills can ruin you financially, and that’s with insurance. Without it, if something bad happens you can be looking at a lifetime of debt ahead of you. 

That’s why it’s vital to make sure you have health insurance. My father always said if you can only pay one bill, make it health insurance. That’s before your car payment, before utilities, even before your rent, because in the U.S the one thing that can truly ruin your finances for life are medical bills. 

In the U.S, simple financial mistakes can cause your credit to be in the bin for decades. Still, there is a lot you can do to prevent these mistakes or even to try and rectify them after the fact so you can get back on track financially. 

If all else fails, and your credit is still in the tank, it might be a good idea to hire a credit repair company to guide you through the process of credit rejuvenation. These companies make it easy to fix your credit and are with you through the whole process. So don’t wait until it’s too late to repair your credit, act today!

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