10 Proven Ways to Lower Your Car Insurance

A woman wearing a yellow shirt drives a silver car.

We’ve heard the insurance tagline over and over: “Switch and save money today.” Every insurance company claims to have the best deal. But, how can you get a good deal while maintaining the appropriate amount of coverage? We’ve got you covered—literally, and with no extra cost to you. Check out these ten ways to help lower your car insurance. 

1. Get Quotes Annually 

Insurance rates are increasing every year, so your insurance premiums will naturally increase over time. However, a huge spike in your insurance bill might mean it’s time to switch providers. Every year or two, use a car insurance quote finder to compare your current insurance rate to competitors. You can also sign up for Jerry.Ai, a tool that automatically checks for the lowest insurance rates before your policy renewal. Requesting quotes annually will ensure that your rates remain low and competitive. 

2. Bundle Your Insurance Plans

Insurance companies often offer discounts when you bundle home, auto, or life insurance. Plus, you have the added convenience of paying all your insurance on one bill. If you’re satisfied with your insurance rates, you can stay with the same company to build up discount opportunities. Some insurance companies will give discounts to their long-term customers, also known as a customer loyalty discount. Bundling and customer loyalty can help you lower your overall insurance costs. 

3. Get Rid of Insurance You Don’t Need 

Older vehicles require less insurance depending on their overall value. For example, you may not need collision and comprehensive coverage on a vehicle if its value is less than your deductible combined with your insurance premium. If you have a car that’s only worth $1,000–$3,000, you might decide to get rid of some of your insurance and purchase a replacement vehicle out of pocket in the case of an accident. If you don’t drop unneeded insurance, you can end up spending more on your premiums than what the total car is worth. 

4. Increase Your Deductible 

A deductible is the amount of money you pay out of pocket as a result of an accident. An increased deductible means lower premium rates. This is a great option for individuals who can keep enough cash savings to cover their deductible in the event of any emergency. Ask your insurance agent about raising your deductible to see how your premiums will fluctuate. 

5. Drive Safely  

This one might seem kind of obvious, but driving safely is the best way to keep your insurance rates low. Insurance providers record your driving history, including any accident reports or traffic tickets. These instances accrue points that eventually lead to increased insurance rates. Even if you switch insurance providers, companies will be able to access your driving history. Try your best to avoid speeding, running red lights, and driving recklessly. Be smart, and drive smart. 

If you do get a ticket, take a defensive driving class to get the points taken off your record. A defensive driving class is an online or in-person course created by individual states to teach drivers how to anticipate dangerous situations and make educated driving decisions. In some states, taking this class can reduce your insurance by 10 percent.

The defensive driving course may seem expensive for a single ticket, but it will end up saving you money on your insurance premiums. You can usually take driving school once a year. If you keep a clean driving record for three to five years, you could save on your insurance rates. 

6. Improve Your Credit Score

Studies show that drivers with a higher credit score are more responsible behind the wheel. Drivers with higher credit scores cost the insurance company less than individuals with a low credit score. A credit score is just another way for insurance companies to measure risk—the very thing insurance companies seek to avoid. Improving your credit score can also help you qualify for auto and home loans. Study your credit report and find ways to improve your overall credit score.

Are you looking for a way to monitor your credit needs? Check out ExtraCredit by Credit.com. It has five killer features, each specifically designed to help you out—no matter what shape your credit is in. 

Sign up for ExtraCredit today!

7. Pick the Right Vehicle 

Insurance rates fluctuate based on the make and model of a car. This is something to consider when purchasing a new or used car. A car such as a Toyota or Chevy will be significantly cheaper to insure than a Porsche. That’s because it’s less risk for insurance companies. Remember, getting a cheaper insurance premium is dependent on your ability to minimize risk for the insurance company. Picking a car brand with an affordable initial price and reasonable upkeep costs can help you save money on insurance and your vehicle in general. You can also save on car insurance by selecting a smaller car with installed safety features.

8. Choose a Group Insurance Plan 

People under the same household can create a group policy to save money. The plan will be more expensive as you add individuals to your group policy, but cheaper than if everyone was on their own insurance plan. Members of the insurance plan either need to be related or have joint ownership of the car. Each of the drivers will be insured for all the cars your family owns. Younger drivers will be more expensive to insure because of their added risk. Look for additional discounts to minimize your total group rate. 

9. Ask Your Insurance Provider About Other Discounts 

Car insurance companies often have additional discounts for specific groups of people. For example, if you are a member of the military, you can get a discount at some insurance companies. You can also lower the insurance premium for your teenage driver through a good student discount. Some other car insurance discounts include the following: 

  • Government employees and retirees discount
  • Multiple vehicle discount 
  • Homeowners discount (separate from the bundling discount) 
  • Paperless billing discount 
  • Hybrid or green vehicle discount 
  • Driver education discount for people under 21
  • Automatic payments or paid-in-full discount 

Ask your insurance provider about additional discounts to see if you qualify. 

10. Find Out About Pay-as-You-Go or Usage-Based Insurance 

If you don’t use your car often, you may be able to save on your insurance. Some companies offer a discount for driving under 10,000 miles in a single year. Other companies offer a pay as you go plan that allows you to pay a base rate and then pay per mile. These discounts could save you money if you do not have a long work commute or if you rarely use your car. This may also be a good incentive to use public transportation when possible. 

Final Thoughts

We all want to save money on car insurance, but that’s not the only factor in becoming a smart insurance customer. Before diving into savings, first determine your insurance needs and goals. Do your research to find out the difference between liability and full coverage insurance. Once you have the right coverage, you can start chipping away at your rates by following these ten tips to lower your car insurance. 

The post 10 Proven Ways to Lower Your Car Insurance appeared first on Credit.com.

Source: credit.com

How to Work from Home While Schooling Your Kids

Parents all over the United States have had to make lofty and quick adjustments due to the pandemic erupting the daily routines many of us haven’t had to change in quite a while. Feelings of overwhelm, exhaustion, and sheer confusion have consumed many; leaving the evergreen thoughts about how to best accommodate our children while simultaneously completing remote work effectively. If you have been struggling with finding a balance or could use some extra pointers to smooth out this process; see the tips below and breathe a little easier knowing there’s additional help available. 

Wake up at least an hour earlier 

I know, this is probably the last thing you wanted to hear fresh out of the gate. However, take this into consideration – you can use this uninterrupted time to knock out some tasks, enjoy your cup of coffee or breakfast before the day truly begins. Rushing (especially in the mornings) tends to set a precedence for the day, causing your mind and body to believe that a pace of hurriedness is expected; generating feelings of burnout very easily. Crankiness, low engagement, and minimal productivity doesn’t serve you, your work, or your children well. Use this solo time to still your thoughts so you are able to be fully present for all things the day holds. While this may take some time to get used to initially, you’ll thank yourself when you have the energy to handle any and everything! 

Set and abide by a clear routine 

Comparing your child’s school schedule in conjunction with your personal work obligations very clearly can showcase what needs to get done and when. Reviewing this every evening beforehand or once a week with your children creates new, positive habits that become easier to follow over time. Not only does this mimic physical in-school setting, but it also generates responsibility and a sense of accomplishment for your little ones. If necessary, communicate with your manager if there are time periods you need to be more present to assist your children with any assignments. 

Designate ‘do not disturb’ time periods 

Depending on your work demands, there are conference calls and online meetings that may have to happen while the kids are completing their individual assignments or classroom time. To make sure everyone fulfills their tasks with minimal interruptions, create time periods that are dedicated to completing the more complex tasks that require a more intense level of focus. To avoid any hiccups, give some leeway before the blocked time to address any questions or concerns. While this doesn’t guarantee that nothing else arises, it establishes peace of mind so that your thoughts can be directed to the tasks that lie ahead.    

Plan out all meals for the week

If meal prepping wasn’t your thing before, it definitely should be now. Having lunch and/or dinner already prepared not only saves you time (which is a necessity) but also helps to normalize the growing grocery bill that seems never-ending. Planning not only avoids confusion and lengthy food conversations, but it also sets a routine the entire family can abide by. Easy food items such as tacos, burrito bowls, sandwiches, and an assortment of fruit provide a healthy balance – while avoiding ordering fast food or takeout multiple times a week.  

Establish a ‘lessons learned’ list 

Similar to an end of year job evaluation, you and your family can take a personal inventory of the things that have worked effectively – while taking note of the things that didn’t. At the end of every week have a very candid conversation with your children. Ask them what worked for their schooling and also self-assess the positives during your remote work. Remember to keep an open mind! Instead of automatically responding with frustration, consider how much of an adjustment this is for kids. They’re accustomed to a multitude of settings and environments, which develops their reasoning and comprehension skills. If they identify something was less than satisfactory, ask what can be done (within reason) to improve their new learning environment. These notes can take place on sticky notes, a large whiteboard, or a simple notepad. This doesn’t have to be a serious sit-down conversation; it can almost be presented as a game. Keeping track of these items will help you all make tweaks as necessary while finding a solid sweet spot.  

Give yourself (and your children) grace 

Life as we knew it switched in the blink of an eye. The busyness of going into the office, dropping the kids off at school, and shuffling them to extracurricular activities stopped more abruptly than any of us could have imagined. As we all know but don’t like to admit, every day isn’t a good day. There are many nuances that happen throughout the course of time that can derail our plans, leaving us to feel defeated. But before going off to the deep end, remember this – every day serves as a chance to start over. If the food wasn’t prepared ahead of time it’s okay. If the workday didn’t go as smoothly as expected, it’s quite alright. Take a deep breath and remember we are all doing the best we can with what we currently have. Learning to navigate new waters such as this is only achieved through trial and error.   

Celebrate the small wins 

Let’s face it – this is new for all of us! While online learning and remote work have been in place for more than a few months, we have to grant ourselves grace. So, if you haven’t already – give yourself and your children a pat on the back! Plan safe outings you and your family can enjoy such as picnics, movie nights, or any outdoor activities. Getting some fresh air for at least 30 minutes during the day can help boost productivity and the moods of you and your children! Each week may not be easy, but it is rewarding to know that the effort you’ve put forth as a parent is a positive contribution to your family.   

One question that we all need to ask ourselves is-will we ever gain this amount of time with our families again? Let’s embrace this moment with learning and lasting memories.  

The post How to Work from Home While Schooling Your Kids appeared first on MintLife Blog.

Source: mint.intuit.com

Unemployment Benefits Explained: Terms, Definitions and More

Since the start of the pandemic, mass unemployment has rocked the nation. To help mitigate the damage, two economic stimulus packages allotted unprecedented sums of money to create new benefits programs that assist people who are out of work.

Millions of newly eligible folks now have access to benefits. But the new programs put state unemployment agencies in a tricky position. They are receiving record-breaking surges in applications at the same time that they are tasked with creating and paying out brand new benefits. The result: overburdened websites, unclear instructions and lots of jargon.

Take, for example, this update to applicants on Arkansas’ unemployment website after the second stimulus package passed:

“Some extensions and changes to federal UI programs will include the reinstatement of the FPUC program, extension of PUA program and PEUC program for those who qualify,” the notice states.

After reading that sentence, you may have a couple choice acronyms yourself. Maybe, “OMG — WTH does that mean?”

“Understanding the difference with all these programs and acronyms is going to be confusing,” said Michele Evermore, an unemployment benefits policy analyst at the National Employment Law Project.

Our plain English guide will help you make sense of it all. Consider bookmarking this page and referencing it as you trudge through the process of getting your benefits.

The 2 Unemployment Programs You Definitely Need to Know

The overwhelming majority of people relying on unemployment benefits are receiving aid from two key programs. According to figures from the Department of Labor, more than 13 million people are collecting Unemployment Insurance and Pandemic Unemployment Assistance benefits.

These two foundational programs provide the bulk of unemployment aid through weekly payments. Once you understand the difference between them, a lot of the other programs will start to make sense.

Unemployment Insurance (UI)

Also referred to as Unemployment Compensation, UI is the longstanding benefits program run by each individual state. It’s for people who are out of work at no fault of their own. To qualify for UI, you have to have made a certain amount of money in the recent past  — typically from a W-2 job with an employer that paid into the unemployment system through payroll taxes. Specifics like previous employment duration or earnings vary.

Depending on your state, average UI payments are between $180 and $490 per week, according to the latest data from the Department of Labor. The duration of UI programs also depends on your state. They last between 12 and 30 weeks (without any extensions). The most common duration is 26 weeks.

Additionally, to collect UI, you have to be able to work, available to work and actively seeking work. Some states have waived the “actively seeking work” requirement during the pandemic.

Pro Tip

Use this tool from the Department of Labor to find your state’s unemployment website and start a UI claim.

Pandemic Unemployment Assistance (PUA)

Pandemic Unemployment Assistance is a new federal unemployment program. It’s up and running in all 50 states. The first stimulus package created PUA in March 2020. Throughout the pandemic, PUA has been a lifeline for tens of millions of jobless people who don’t qualify for regular UI benefits.

For the first time nationally, gig workers and freelancers, who are considered 1099 independent contractors, have been able to receive unemployment benefits through PUA.

Beyond helping those who were laid off, PUA offers benefits to people who can’t go to work or lost income due to a variety of coronavirus-related reasons. Some examples include contracting COVID-19, caregiving for someone who has COVID-19 or staying home to take care of your kids whose school closed due to COVID-19 lockdown rules.

Because PUA is a federal program, all states must offer it for a maximum of 50 weeks. The minimum weekly payments vary by state, however, because they’re calculated as half your state’s average UI payment. With average state UI payments between $180 and $490, you can expect minimum weekly PUA payments between $90 and $245 depending on your state.

Our guide to filing for Pandemic Unemployment Assistance includes an interactive map to help you find your state’s application rules.
A woman holds hands with her infant while looking for something on her laptop.

7 Quick Definitions to Important Unemployment Terms and Programs

Now that you have a better understanding of the two major unemployment benefits programs, let’s look at extensions, payment enhancements and other important programs that you may be eligible for.

Here’s a primer on seven key terms that you’re sure to come across as you apply for benefits.

CARES Act: The Coronavirus Aid, Relief and Economic Security (CARES) Act was the first coronavirus relief package passed in March 2020. It expanded unemployment assistance, authorized $1,200 stimulus checks and provided relief for small businesses, among several other things. Under this law, those who are partially or fully unemployed as a direct result of the coronavirus may receive up to 39 weeks of federal unemployment benefits.

CAA: The Continued Assistance Act, aka Continued Assistance for Unemployed Workers, is part of the $900 billion stimulus package that became law on Dec. 27, 2020. It extends many of the unemployment programs created by the CARES Act.

DOL: The federal Department of Labor oversees all states’ unemployment systems. Your state may have its own agency named the Department of Labor that administers its unemployment benefits. Generally speaking, DOL refers to the federal agency.

DUA: Disaster Unemployment Assistance is not Pandemic Unemployment Assistance. You may come across this long-standing natural disaster assistance program on your state’s unemployment website. Do not apply. Despite their similar names, they are very different.

EB: Extended Benefits are available in every state except South Dakota. EB is a state-level benefit that extends Unemployment Insurance by six to 20 weeks — depending on your state and your local unemployment rate. To qualify during the pandemic, you may have to exhaust a federal unemployment extension first. (See PEUC below.)

FPUC: Federal Pandemic Unemployment Compensation boosts unemployment benefits by $300 a week for up to 11 weeks between Dec. 27, 2020, and March 14, 2021. Anyone who is approved for at least $1 of unemployment benefits will automatically receive this bonus. No separate application or action is needed. This program previously paid out $600 per week under the CARES Act, but that version expired in July 2020.

PEUC: Pandemic Emergency Unemployment Compensation extends the length of Unemployment Insurance aid for a maximum of 24 weeks. The first stimulus deal extended UI benefits for 13 weeks, and the second stimulus package added an additional 11 weeks. New applicants (after Dec. 27, 2020) are only eligible for the 11-week extension. This program does not extend Pandemic Unemployment Assistance.

Adam Hardy is a staff writer at The Penny Hoarder. He covers the gig economy, remote work and other unique ways to make money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How To Save Money On Textbooks + Campus Book Rentals Review

How To Save Money On Textbooks + Campus Book Rentals ReviewIf you are looking for tips on how to save money as a college student, then one of the top things you need to learn is how to save money on textbooks such as through cheap textbook rentals. In this post, I will be including a Campus Book Rentals review because I used this textbook rental company throughout college and was able to save a great amount of money with cheap textbook rentals.

P.S. I also have a Campus Book Rentals coupon code at the end of the post, so do not miss out on this valuable Campus Book Rentals coupon for the best textbook rental company out there!

When I was in college, I always made sure to save as much money as I could. College is expensive, and everyone knows that. The costs can quickly add up. Between the tuition, lab fees, parking fees, textbook costs, and more, college costs can quickly get out of hand.

I know and understand this. I graduated with around $38,000 worth of student loan debt, and that was even with me carefully managing my costs. Thankfully I paid off my student loans (read about how I paid off my student loans within 7 months), but I do like to help others in as many ways as I can.

According to the National Association of College Stores, the average college student spends around $700 per year on the cost of textbooks.

That could be a total of a little less than $3,000 for a 4 year degree just for the cost of textbooks, and as everyone knows, the cost can actually be much higher than that.

I actually think this number that is estimated is wrong, because I don’t really know anyone who bought their college textbooks and only spent $350 or less from their college bookstore on the cost of textbooks. That wouldn’t have even covered two college textbooks for me from my college bookstore.

When I was in college, many of my college textbooks were around the $200 price for just one textbook, and I often took 7 or 8 classes a semester. This means if I paid full price for each book (whether I bought them online or from my college book store), I would have sometimes paid around $1,600 each SEMESTER!

Or $3,200 a YEAR!

That is just insane.

Below are my tips on the best ways to save money on college textbooks:

 

Rent your college textbooks through cheap textbook rental websites such as Campus Book Rentals.

When I was in college, I saved a great deal of money by renting my college textbooks. As I said above, college textbooks for me were expensive if I were to not shop around and just stick with the expensive books at the college bookstore. Who wants to waste a ton of money on the cost of textbooks by buying them at full price?

NOT ME! You can save a lot of money on the cost of textbooks by renting them instead.

I often rented my college textbooks that were $200 at my college bookstore for less than $50 for the semester. There are definitely some cheap textbook rentals out there!

I often found cheap textbook rentals for $25 as well That is a STEAL! I always used coupon codes as well, as they can be found everywhere. Lucky you, if you keep reading I have a CampusBook Rentals coupon code as well! 🙂

It was easy to rent textbooks online. Here is the step by step process of renting textbooks online and my Campus Book Rentals review:

  • I just had to find my college textbooks online such as on CampusBookRentals. Campus Book Rentals is the best textbook rental I used when I was in college. They made it easy and have a large college textbook selection for students to choose from so that you find the exact textbook you need.
  • I would then order the textbook for whatever time frame I needed. You can usually rent them for 45 days, two months, a full semester, or even longer. The longer the time frame, the more expensive they are, of course.
  • I would use the textbook for a class. Of course, this is not a surprise!
  • Once you are done with the textbook, all you have to do is return it. You will be provided a return label, so the return shipping is absolutely free. You don’t have to worry about the textbook being outdated, a new edition being published, losing money, etc.

I also have a Campus Book Rentals coupon code for 5% off your total purchase plus FREE SHIPPING if you need one as well. I genuinely believe they are the best textbook rental company out there right now, or else I wouldn’t be writing this whale of a Campus Book Rentals review post. The Campus Book Rentals coupon code is snowfall5. All you have to do is click on my affiliate link (the Campus Book Rentals coupon code only works with the affiliate link) and once you are ready to check out, enter snowfall5 as the Campus Book Rentals promotional code.

 

Skip the college bookstore for cheap textbook rentals or buy textbooks used.

The college bookstore can be a big rip off. Sorry to everyone who has ever worked at one.

I have three college degrees, and have visited the college bookstore many times to compare prices, and I do not think there was a single occurrence where the price at the college bookstore was cheaper than the price I found somewhere else, such as through CampusBookRentals.

 

Sell your college textbooks.

Some of you might be saying, well why didn’t you just buy your textbooks used and then sell them back, instead of renting college textbooks? Well, this is because it often turned out that whenever I bought a textbook, the very next semester they would be considered “old” because a new edition would be published. No one really buys old editions of finance books as they are considered “outdated” by many professors.

However, there are many instances where selling your college textbooks can be a great idea, and you can make some money as well.  If you are looking to save money in college, then you should learn how to sell your college textbooks back so that they aren’t just hanging out in your house collecting dust.

Thank you for reading, I hope you enjoyed this Campus Book Rentals review and that you learned how to save money on textbooks and a new way on how to save money as a college student.

How do you save money on your college textbooks?

 

Campus Book Rentals coupon code for the best textbook rental company!

P.S. Here is the Campus Book Rentals coupon again as well since you took your time to read my Campus Book Rentals review. I have a Campus Book Rentals coupon code if you need one for even cheaper cheap textbook rentals. The discount will give you 5% off your total textbook purchase rental plus FREE SHIPPING. The Campus Book Rentals coupon code is snowfall5. All you have to do is click on my affiliate link (the Campus Book Rentals coupon code only works with the affiliate link) and once you are ready to check out, enter snowfall5 as the Campus Book Rentals promotional code. This coupon code is good until April 30, 2015, so you have plenty of time to use it for this semester’s classes.

 

The post How To Save Money On Textbooks + Campus Book Rentals Review appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

20 Kitchen Items You Should Never Pay For

Substitute egg separator

When you need to separate the egg white from the egg yolk, here's an incredibly simple way to do it. Crack the egg into a bowl and grab an empty plastic water bottle. Rest the mouth of the bottle on the yolk and squeeze the middle of the bottle like a turkey baster. The yolk will be sucked right into the bottle. Watch a video of this here.

Make your own turkey baster

Speaking of turkey baster, you can make your own with a water balloon, a straw, and a utility knife. (Read this article from eHow.com for step-by-step instructions.) MacGyver would be proud.

Free trussing twine!

If you want to truss your turkey—i.e., tie the wings and legs of a bird down for more even cooking—you don't need to buy trussing twine. Use dental floss! Not only does it come in a small container, it’s very strong and won’t burn in high heat.

DIY trivet

If you have extra ceramic tiles left over from a home improvement project, you can use them as trivets. Protect tables and countertops from hot pots and dishes by affixing peel-and-stick felt corners underneath each tile. 

SEE MORE: Domestic CEO's How to Stock a Kitchen

Cooling rack stand-in

Keep your cool during holiday baking days. When you’re covered with flour, have no idea where the kitchen table used to be, and just pulled the fifth blisteringly hot tray of gingerbread men out of the oven, simply flip over cardboard egg trays (you’ll need two, spaced a little bit apart) and set the baking pan on top.

You can also use butter knives for cooling racks: Place them in rows on your counter, alternating directions. They'll keep hot baked goods elevated.

DIY bowl scraper

Have you ever seen those bowl scrapers in kitchen stores that sell for $3 to $10? These circular, plastic tools are easy to make at home. Simply take the lid of a round take-out container, cut it in half, then remove the rim. Instant savings!

Substitute rolling pin

If you're in need of a rolling pin, look no further than that bottle of vodka you have in your freezer. The chilled glass will result in a flakier pastry. Even a wine bottle will do.

Who needs cookie cutters?

Rather than buying a biscuit cutter or cookie cutter, use a wine glass or a clean, empty aluminum can. If you're making donuts, use the mouth of an empty water or soda bottle to cut out the center hole.

A simple flour sifter

Julia Child probably used a flour sifter while preparing fine pastries, but you can keep things simple by putting a mesh colander over your mixing bowl, filling it with the needed amount of flour, and gently tapping or shaking it until the flour sifts through. You can use this for powdered sugar as well.

RELATED: Nutrition Diva's Keep Your Kitchen Germ Free

Replacement pastry brush

An unused toothbrush is the perfect substitute for a pastry brush. A paper towel will also work in a pinch!

Easily make a funnel

If you have aluminum foil in your kitchen, you don’t need a funnel. Simply fold a sheet of foil in half width-wise and roll into the shape of a funnel.

You can also use an “egg shell with a hole pierced in it” for a funnel, according to the book Thrift for Troubled Times, published in 1917 by Britain's "National Training School for Cookery"!

Tenderize meat without a mallet

An unopened can of beans or vegetables makes a great meat tenderizer. Cover the bottom with plastic wrap and pound away on the meat just as you would use a mallet.

Substitute jar opener

You’ve seen those nifty, colorful jar openers in cool houseware shops, but you might not realize you’ve got a bunch of tools that are just as effective lying around your garage or basement. Using an X-Acto knife, slice open an old tennis ball and you’ve got two handy openers—game, set, match! Now pass the olives.

Handy stem remover

Hate grapefruit, and wondering what to do with those grapefruit spoons that came with your set of silver? Use their serrated edges to carve the stems out of tomatoes and strawberries.

CHECK OUT: Who Knew's 5 Essential Tips to Prevent Kitchen Disasters

Make your own juicer

Instead of purchasing a handheld juicer (also known as a reamer) for fruit, simply use one blade from a hand mixer instead. Halve the fruit and twist the blade into it for easy juicing.

Homemade potato masher

The only thing better than homemade mashed potatoes is a homemade potato masher. Interlace the tines of two forks together (the forks should be facing each other) and mash away.

DIY garlic press

The tines of a fork can also be useful for mashing garlic. Just place the tines flat against a cutting board and rub a whole, peeled garlic clove against them.

Replacement martini shaker

Who needs a martini shaker? Instead of buying this expensive bar tool, simply use a stainless steel thermos with a screw-in lid. If there’s no way to close the sipping hole on the top, cover it with your thumb while you shake!

Easy bag clip

Kitchen supply stores sell bag clips to keep your half-empty bags of snacks and cereals more airtight. What's cheaper, and available at the 99¢ store? Clothespins! Or use binder clips.

How to make a utensil holder

If you need a kitchen caddy to hold the utensils you do have, read how this intrepid blogger made homemade utensil holders with plastic Beanie Baby boxes. Who knew?

For more second uses for everyday items, follow our Clever Second Uses Pinterest board! For more great kitchen tips, check out our eBook, Cooking Made Easy, available for Kindle and Nook.

Source: quickanddirtytips.com

5 Legal Documents You Need During a Pandemic

As Americans grapple with how to stay physically and financially healthy during the COVID-19 pandemic, it’s critical to make sure you and your family have the right emergency documents. It’s much easier to prepare for a potential disaster than to recover from one that blind-sides you. After a tragedy occurs, it may be too late to make critical decisions.

Let's talk about the different emergency documents and why you may need to create or update existing paperwork. If you get COVID-19 or have another unexpected illness or accident, these documents will help you manage your finances and make essential decisions with more clarity and less stress.   

5 emergency and legal documents to have during a pandemic

Instead of being caught off guard during a difficult time, consider if you should have these five legal documents.

1. Last will and testament

The purpose of a will is to communicate your final wishes after you die. Too many people don’t have one of these incredibly important documents because they mistakenly believe it’s something just for old rich people.

The fact is, every adult should have a will. If you die without one, the courts decide what happens to your possessions, not your family.

The fact is, every adult should have a will. If you die without one, the courts decide what happens to your possessions, not your family.

And once you have a will, don’t forget to update it periodically to make sure it addresses all your wishes, assets, and beneficiaries. Critical life events—such as getting married, divorced, having a child, or losing a spouse or partner—should trigger you to update your will.

If you’re starting from scratch, make an inventory of your assets—like bank accounts, investments, real estate, vehicles, expensive belongings, and sentimental possessions—and decide what you want to happen to them. You can list beneficiaries for specific items, like who gets a piece of heirloom jewelry or an artwork collection. You can also create distribution percentages, such as 50 percent of the value of your assets go to your partner and 50 percent to your only child.

In addition to dealing with your possessions, a will allows you to name a guardian for your minor children.

In addition to dealing with your possessions, a will allows you to name a guardian for your minor children. And don’t forget to leave instructions for what you want to happen to your pets, digital assets, intellectual property, and business assets. You can create a plan for your funeral, such as where you want to be buried and whether you want your organs donated.

Someone must carry out your final wishes and legal details. You can name a designated family member, friend, or attorney to be your “executor” and handle all the arrangements. Depending on the size of your estate, this can be a challenging and time-consuming task. So, make sure they’re capable and willing to do the job.

The bottom line is that having a will makes death easier for the loved ones of the deceased. It can help keep peace in your family by settling disagreements, minimizing bureaucracy, and even saving your heirs from unnecessary expenses. You don’t need a lawyer to create a will, but if you have a high net worth or many different types of assets, it’s a good idea to hire one.

2. Living will

In addition to a last will, you also need a living will. This document specifies what you’d want to happen regarding your end-of-life care. It would help if you were unresponsive for an extended period or in the final stages of a terminal condition.

Having a living will makes your wishes clear when you’re facing death. It’s an essential guide for family and doctors who might need to know if you’d want to extend your life by artificial means or to die without any interventions.

3. Health care proxy

When it comes to your health care, another critical document is a health care proxy. You might also hear this called a health care power of attorney or a health care surrogate. In it, you designate someone to make medical decisions for you when you can’t.

Imagine that you’re in an accident or come down with a severe illness and become mentally incapacitated. Having a health care proxy allows the person(s) you choose as your representative to make medical decisions for you or admit you into a health care facility.

Having a health care proxy allows the person(s) you choose as your representative to make medical decisions for you or admit you into a health care facility.

You might want to name two proxies in case one isn’t available when you need them. Consider who you’d trust with your care and discuss the responsibilities and your wishes with them.

Some hospitals won’t allow medical professionals to disclose any information about you—even to your health care proxy—unless you have a HIPAA (Health Insurance Portability and Accountability) medical privacy release. Your family needs to speak to your doctor about your medical situation without creating a legal problem for the doctor, so consider having this legal document as well.

4. Power of attorney

Even if you don’t need a designated proxy to make medical decisions for you, you likely need someone you trust to help with other types of decisions, such as managing your finances or legal affairs. Creating a power of attorney (POA) allows another person to stand in for you as an agent if you’re incapable of making routine transactions, such as paying bills or signing contracts.

You can use it power of attorney any time you’re not capable of doing something like selling real estate, making insurance claims, filing taxes, or making financial decisions.

There are different kinds of POAs, but the most common is a durable power of attorney. You can use it any time you’re not capable of doing something like selling real estate, making insurance claims, filing taxes, or making financial decisions. You can also create one or more limited powers of attorney, which name people to act on your behalf for specific transactions during a limited period.

Having a POA is how the financial end of your life can run smoothly if you become incapacitated. It’s also a tool for giving someone the authority to manage nearly any aspect of your life if you’re unavailable or don’t have time to handle it yourself.

5.  Childcare authorization

If you’re the parent of a young child, you should have a childcare authorization. This document can address a variety of situations, such as whether your child’s school or daycare can release them to another individual.

You can use this authorization to allow someone else, such as a partner or nanny, to temporarily make decisions for your child in your unexpected absence.

Do you need emergency documents if you’re married?

Don’t make the mistake of thinking that you don’t need emergency or legal documents because you’re married. While a spouse may be able to make some crucial decisions for you, you could both die or become incapacitated at the same time.

Let’s say your spouse is in a coma in the hospital due to a disease or accident. If you had a financial hardship and needed to sell assets, such as jointly owned investments or real estate, it could be difficult. Each of you would have to authorize the transaction.

Married couples and domestic partners should give each other power of attorney to avoid having financial restrictions during a crisis. And each of you should have wills and healthcare proxies.

Therefore, married couples and domestic partners should give each other power of attorney to avoid having financial restrictions during a crisis. And each of you should have wills and healthcare proxies.

Also, consider what would happen to your minor children if you and your spouse were in an accident together. It’s critical to name a guardian in your will, so the court doesn’t appoint one for you that you may not like.

Where should you keep emergency documents?

Keep your original signed legal documents safe, such as at your attorney’s office, in a fireproof safe, or a bank safe deposit box. Also, maintain copies of everything at home in case you need them at night or on the weekend. You should scan and upload them to a cloud-based storage service, such as Dropbox or Evernote.

Do yourself and your family a favor by getting all your emergency documents created as soon as possible. If you already have them, put an annual reminder on your calendar to make any necessary updates. You’ll feel at ease knowing you’re as prepared as possible for the unexpected. Your emergency documents make sure that you and your children’s future is protected no matter what happens.

Source: quickanddirtytips.com

Why UGMA/UTMA Accounts Are the Perfect Holiday Gift

If you have a special child in your life, you may be wondering what to put under the tree this year. One long-lasting and truly meaningful way to show the child in your life that you care is by taking a few minutes to set up a UGMA/UTMA account and give them a leg up in life.

The earlier you open a UGMA or UTMA account for a child, the longer your initial gift has to grow, thanks to the magic of compound interest. For example, investing just $5 a day from birth at an 8% return could make that child a millionaire by the age of 50. By setting up a UGMA/UTMA account, you’re really giving your beneficiary a present that grows all year round. Now, that’s a gift they’re sure to remember!

What is a UGMA/UTMA account?

UGMA is an abbreviation for the Uniform Gifts to Minors Act. And UTMA stands for Uniform Transfers to Minors Act. Both UGMA and UTMA accounts are custodial accounts created for the benefit of a minor (or beneficiary).

The money in a UGMA/UTMA account can be used for educational expenses (like college tuition), along with anything that benefits the child – including housing, transportation, technology, and more. On the other hand, 529 plans can only be used for qualified educational expenses, like summer camps, school uniforms, or private school tuition and fees.

 

It’s important to keep in mind that you cannot use UGMA/UTMA funds to provide the child with items that parents or guardians would be reasonably expected to provide, such as food, shelter, and clothing. Another important point is that when you set up a UGMA/UTMA account, the money is irrevocably transferred to the child, meaning it cannot be returned to the donor.

 

Tax advantages of a UGMA/UTMA account

The contributions you make to a UGMA/UTMA account are not tax-deductible in the year that you make the contribution, and they are subject to gift tax limits. The income that you receive each year from the UGMA/UTMA account does have special tax advantages when compared to income that you would get in a traditional investment account, making it a great tax-advantaged option for you to invest in the child you love.

 

Here’s how that works. In 2020, the first $1,100 of investment income earned in a UGMA/UTMA account may be claimed on the custodian’s’ tax return, tax free. The next $1,100 is then taxed at the child’s (usually much lower) tax rate. Any income in excess of those amounts must be claimed at the custodian’s regular tax rate.

A few things to be aware of with UGMA/UTMA accounts

While there’s no doubt that UGMA/UTMA accounts have several advantages and a place in your overall financial portfolio, there are a few things to consider before you open up a UGMA/UTMA account:

 

  • When the child reaches the age of majority (usually 18 or 21, depending on the specifics of the plan), the money is theirs, without restriction.
  • When the UGMA/UTMA funds are released, they are factored into the minor’s assets.
  • The value of these assets will factor into the minor’s financial aid calculations, and may play a big role in determining if they qualify for certain programs, such as SSDI and Medicaid.

Where you can open a UGMA/UTMA account

Many financial services companies and brokerages offer UGMA or UTMA accounts. One option is the Acorns Early program from Acorns. Acorns Early is a UGMA/UTMA account that is included with the Acorns Family plan, which costs $5 / month. Acorns Early takes 5 minutes to set up, and you can add multiple kids at no extra charge. The Acorns Family plan also includes  Acorns Invest, Later, and Spend so you can manage all of the family’s finances, from one easy app.

 

During a time where many of us are laying low this holiday season due to COVID-19, remember that presents don’t just need to be a material possession your loved one unwraps, and then often forgets about. Give the gift of lasting impact through a UGMA/UTMA account.

The post Why UGMA/UTMA Accounts Are the Perfect Holiday Gift appeared first on MintLife Blog.

Source: mint.intuit.com