Budgeting

Sometimes, life can be expensive. After all, you have to pay for your car, electricity, gas and even water rates. You also need to take into account the cost of your insurance and even grocery shopping. It’s very easy for things like this to get out of hand, and when an unexpected expense hits, it can devastate your finances.

Car Repairs

You never really expect your car to break down. It is easily one of the most inconvenient expenses and this is especially the case if you rely heavily on your vehicle. It’s so important that you plan on your car having issues by setting aside an emergency fund. You can also perform maintenance on your car to try and make sure that it doesn’t break down as often. This can include oil changes and even rotating the tires. This will help to reduce the cost of a repair and it can also help you to make sure that you are continually staying on top of the little things.

Medical Expenses

When a medical emergency comes up, you have to make sure that you address the problem quickly. If you don’t then you may end up paying even more at a later date. For this reason, you need to look into Medicare gap insurance. This will help you to avoid any expenses and it will also help you to get the medical support you need. Of course, it’s also a good idea for you to look into having a medical emergency fund as well, just in case your insurance doesn’t cover you for everything.

Utility Bills

Your utility bill will probably skyrocket at certain times of the year. If you want to try and stop things like this from happening then it is so important that you set your thermostat. This will stop your heating from coming on when you are not in the house and it will also give you a much higher level of control over your usage. When it gets to winter, you probably will end up paying more in heating bills anyway so it’s important that you account for this as well.

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Car Insurance

Car insurance companies will usually offer you a discount if you pay your premium in full. This may save money but it also means that you will have a huge bill when you least expect it. One way for you to try and stop this from happening would be for you to put a reminder in your phone every week. You can then put a set amount away and save up for it gradually, meaning that you won’t experience as much of a hit to your finances when the time comes for you to pay your bill.

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Pet Emergencies

If you have a pet and you don’t have pet insurance then this is a huge mistake. You don’t always know when something is going to happen to your pet, and major operations can cost a small fortune. You can try and protect your pet by scheduling regular vet appointments, but it does help to have an emergency pet plan in place so that you can prepare for the worst should something happen.

When we have little ones, we tend to want what’s best for them in life. Now, no matter how hard you may try to protect your little ones from negativity, situations may arise at some point or another that can make living conditions difficult. However, there are steps that you can take which will at least protect your kids on a financial level. Here are just a few to consider.

Home Insurance

Home is where the heart is, but all sorts of disaster can strike. Problems such as natural disaster, fire, and theft are just a few issues that could arise and affect your little ones financially down the line. However, home insurance policies can help you to repair any damage and replace any broken or stolen belongings in your time of need.

Life Insurance

While we don’t want to be morbid, you do need to remember that passing away is an inevitability and that we never know when the worst might happen. So, it’s always a good idea to invest in a life insurance policy. This policy will ensure that your dependents receive a payout should your life be cut short, and this can be used to tide them over until they are able to provide for themselves. Now, before taking out a policy, you may have various questions, such as “How much life insurance do I need”. But not to worry. The infographic below should help to provide you with a little more information on the topic.

Infographic Design By How much life insurance do I need

Interview with Alexis Assadi About His Student Environmental Startup Grant

Alexis Assadi is a financier who founded the Alexis Assadi Student Environmental Startup Grant in 2018. The program offers $1,000 to full-time enrollees in Canadian universities with business ideas that could lead to positive environmental outcomes. The purpose of the grant is to help offset initial business costs, such as incorporation or accounting fees and website design, etc.

To begin with a basic question, why did you decide to launch the Alexis Assadi Student Environmental Startup Grant?

The work I do on a daily basis doesn’t provide direct value to society. I lend money to companies and real estate projects, which may then go on to do impressive things. But I don’t feel as though I make much of an immediate contribution. This grant is a small way to change that.

What do you think about the politicization of climate change?

It’s frustrating because environmental protection and climate change are scientific issues. They should not be political. Almost 100% of climate scientists agree that the world is getting hotter because of humans. There is a consensus on the matter among anybody who knows the facts. The only people who debate it are those who don’t know enough about it – or those who stand to gain financially, usually via oil, gas and coal ventures. Annoyingly, today, if you are concerned about the preservation of our environment then you will often be branded as a liberal or a leftist. But I’m just a guy who would prefer not to live on a planet that is on fire.

Are you not concerned by the few dozen scientists who contest that climate change is induced by us?

No. There are over 7 billion people on earth, so there will always be a few outliers. I’m sure I could find scientists who argue that sugar does not contribute to diabetes, or that smoking does not increase the risk of cancer. That doesn’t mean that the other 99.5% of researchers are incorrect. Moreover, some of the dissenters have been found to have received financial benefits for their opinions. That’s a polite way of saying that people will say stuff for money.

There is debate over whether we should focus on the earth’s environmental issues or begin looking to migrate to other planets. A growing number of technologists are advocating for the latter. Do you disagree?

I don’t see why we can’t walk and chew gum at the same time. I support space exploration, not necessarily because I think humans need to move elsewhere, but because it benefits our scientific community. I also support taking meaningful steps to preserve our planet. The sad part is that we have the means to reduce climate change, but we lack the political will.

What’s the biggest misconception about environmentalism?

There’s an old video clip from the late comedian, George Carlin. He talks about how the narrative around environmentalism is misguided. We don’t need to “save the planet” because it will be fine. Rather, it is we who are and will continue to be affected by destroying it. I think he summed it up perfectly. This isn’t about hugging trees. It’s about the quality of life and even the survival of our species.

With so many different ways to leave product reviews, it is easier than ever to find out what people think about every item under the sun. As well as reading what members of the public think, you can also find out what the professionals have to say as well. It is always worth taking the time to read reviews before you buy anything, and here are just a few of the reasons why.

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To See If It Has What You Need

Many people are buying products for a specific reason, and reading the reviews is one of the best ways of finding out whether or not it does it has what you need it to do. And while the product description may say that it fulfills a particular purpose, you can find out from people who are impartial about whether or not it lives up to all its promises.

To Get the View of the Experts

There are many review websites out there from people who are experienced in that particular product area. Whether you are looking for a new mountain bike or CBD vape cartridges, there are bound to be websites which are dedicated to that field. Often, the reviews that you get from the experts are more in-depth and you will pick up on features that might get missed by your average member of the public.

To Help You Identify Rogue Sellers

There is always an element of risk involved when you are buying online, but reading the product reviews is one of the best ways of picking up on the sellers which are more untrustworthy. People who have been victims in the past are likely to leave reviews warning future buyers away from the rogue sellers. If you see a number of reviews which are all saying the same thing, you have a better idea of the authenticity of the seller.

To Determine How Good a Brand is

Everyone has a pretty good idea what to expect when it comes to the big brands, but there may be some smaller or medium-sized ones which you have never heard about before. Rather than potentially buying an inferior product, you can find out the experiences of other buyers to find out about the pros and cons of that brand.

To Get an Idea of How the Product Can Be Utilised

When many people are leaving reviews, they like to describe their own experiences with the product. You may even find some alternative uses for the item which you had never considered in the past. The more you read, the more information that you will get about the product and the better informed you will be when it comes to making your decision.

The savvy buyer should always take the time to know everything they can about what they are about to buy. These are just a few of the reasons why you should always read reviews if you don’t already.

Having an emergency savings account is a must if you hope to keep yourself afloat when things go wrong. No one plans for life to go a little askew, but it does happen with job loss, injury and unexpected breakdowns with the car, the boiler and any number of appliances.

As you well know, breakdowns and life issues always seem to happen in three’s, which means that you need to have a savings account that is prepared for you to use it – just in case.

When life does go off kilter, you need to be prepared. It’s hard, though, to prepare yourself for something that hasn’t yet happened. You can’t exactly predict that the established business that you work for is going to fold. You also can’t tell whether you’re going to be a victim of an injury this year. The good news is that you can do something, just in case.

You can figure out how much you earn in six months and make this your emergency savings figure. This is the amount that you can hold in your savings account ready to cover you when life goes sideways. There are many things that your savings can cover, and here are four ways to get started with your emergency fund below:

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1. Medical Costs. You may have comprehensive medical insurance and coverage, but that doesn’t always cover everything. Sometimes, you have to pay out for things like glasses or a Starkey hearing aid. You may even have to cover the cost of crutches or a wheelchair.

Your emergency savings account can really get some use out of it if you are strapped for cash and your medical equipment breaks down; it means you can be rescued!

2. Home Appliances. Being a homeowner is a wonderful privilege, but it does mean that the buck stops with you. When the boiler decides to die in the dead of winter, it’s you that has to cover the costs of a new one, plus installation and the cost of an engineer. It’s not cheap, but it’s a great way to use the emergency stockpile that you’ve got to cushion you from a fall.

3. Pet Sickness. You have a dog, one that costs you enough in food, medical insurance and toys every month. Now that dog has a broken leg, and you’ve got to fork over the money to get him sorted out. You’d usually not dip into your emergency savings for this, but it’s an emergency procedure or the dog loses a leg. It’s a perfectly legitimate reason to use the account – so go for it!

4. Repairs. The one thing about living in your town is the climate – it’s unpredictable and you can’t tell when the weather is going to turn on you. The wind is strong enough without the roof being ripped off and costing you thousands in repairs. Emergency funds are there for things like this, especially if your card won’t cover the cost!

An emergency fund is for emergencies; it’s the literal definition. Always try to replenish it as fast as you can when you have to use it!

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One of the biggest stresses in life is money. It’s the one thing everyone always worries about not having enough of, and we spend our whole life trying to do all we can to make as much of it, as quickly as possible.

But the thing is, we rely so much on money that we begin to lose ourselves, and yet we don’t have much choice because everything has a price, and everyone wants to have financial freedom.

Because part of the difficulty is the stress that it gives us, because there are so many different things to think about once you hit the adult world, and that can be really overwhelming and can put a lot of pressure on you. You may then find yourself in a downward spiral as things build up until you explode – and that’s never a good thing.

Your mind can be so strong, and yet so sensitive, and you need to find a balance that works for you. Everyone is different, but there are basic ways to manage your money when times get hard. Here are a few examples to get you on the right track.

Home expenses

Homes get pricey, not only do you have to buy one and pay the mortgage off, but there are tons of bills that follow, like the water, the electric, and the insurance. While this is just part of life, this doesn’t mean that you can’t find a cheaper option. So have a sit-down and look through all of your current payments, you may find that there is something you are paying for that is unnecessary, or you are able to find a cheaper company that offers you the same thing.

Medical expenses

Let’s face it, medical bills can get so expensive, especially if you don’t have the latest insurance to cover you. So if something happens that you were least expecting and you find yourself in an accident with burn injuries that weren’t your fault, then it is important you go and seek out the legal help that can build you a case so that you get the compensation you need and deserve.

Personal expenses

We all want to have the finances to be able to buy that dress we’ve had our eye on, or the holiday next year to go away with the family or the upgraded car that runs way better than what you have now.

Life is about experiences and enjoyment, not just surviving, so it’s important to still go after the things you want so that you have a life that you’re happy with. The simple answer for this is budgeting. Break it up, understand it, and then use it where you see fit.

Now you know what to look out for, you may find that the edge is taken off a little. But if you’re still struggling, make yourself an appointment with a financial adviser who can give you all the beneficial advice to better yourself and your circumstances.