finance Archives - Page 6 of 8

13 Things You Should Always Remember When Getting a Divorce

April 16, 2018 by admin

Sometimes, life is not what it is made out to be like in the movies. Though dream weddings can exist, in many cases, marriages can sometimes come to an end over time. There is a misconception about divorce that it must be messy and expensive, which it can be if you don’t follow the right tips to making it a smooth process. Although it can be hard to let go, people are beginning to see divorce as an opportunity to find a better life. When you have children, the process can become an infinitely more difficult one, where it is not just you and your spouse’s feelings at stake. Before you make such a life changing decision, make sure you consider some key points.

It isn’t the only option

For many reasons, people think that when you enter into a marriage, it is going to be an easy ride. This means that when there are dips in the time they have together, they can start to think the end is near when it might not be. Though it is true that divorce is sometimes the best option, it is imperative to note that it is not the only one. For example, there are many marriage counsellors you can see if you are committed to saving your marriage, but there are also times when you might see improvements after a rough patch. If your marriage hasn’t improved after you feel like you have exhausted the options, then you can think about whether divorce is the right path for you.

You’re allowed to grieve

When you have separated from a spouse, it is one of the hardest times in a person’s life. Despite this, many parents feel as though they don’t have time to process their feelings when there are other people who will be feeling the effects of the divorce, such as children. However, making it so you have no time to grieve may feel like a welcome distraction at first, but it will likely hinder your chances of moving on effectively from the situation. It will be hard, but remember to give yourself time to grieve over your old life, so that you will be able to see your new one emerging on the horizon.

Keep it quick

What puts people off about divorce is that it can sometimes be a lengthy process, which makes it harder for every person involved. It may feel as though you can’t let go quickly but holding on longer will make it even harder in the long run to accept what is happening. It is worth remembering that divorces can happen amicably despite the circumstances, which will make it easier to co-parent when you are separated but will also mean that any assets are split quickly and fairly.

Consider the financial costs

There are also financial reasons why you should act quickly when getting a divorce. Hiring a legal team can sometimes cost more than your wedding might have, especially if there are some financial disagreements that are tricky to work through. Not only this, but any joint savings you have may be compromised during the process. It is unlikely that you will be able to split your assets down the middle, which is why it is always a good idea before you commit to someone to sign a pre-nuptial agreement, so that in the off-chance divorce comes about, you are not left without any money after.

Choose a good lawyer

One of the best ways to save money during a divorce is by hiring the best divorce lawyer at a reasonable cost, and who has a proven track record. This is key, as there are many lawyers out there who will only be thinking about the money they can make during the hard times of separating spouses. If you research effectively, weigh up your budget, and go in wanting a speedy process, then you will be able to find one that suits you. In all cases, this lawyer must have your kids’ lives at heart throughout the process, as they will become a big part of the divorce agreement you come to.

Put your kids first

Putting your kids first is something that people forget about when getting a divorce, due to the stressful situations that can arise when you are separating from someone. This usually means that your kids get caught in the crossfire between two arguing parents, which can unfortunately lead to a host of problems later in life. For example, mental health issues can affect them more, and there are some children who will start to feel abandonment complexes if one of their parents decides to leave the family entirely. If there is one piece of advice you should always take before getting a divorce, it is that your kids can escape the process relatively unscathed if you out them first at all times.

Employ a children’s therapist

There will be times in your divorce when you are not able to be your strong self for your kids, especially when you are giving yourself time to grieve. In these cases, you should consider whether hiring a children’s therapist is a good idea, where your kids can learn to articulate how the divorce has made them feel, but also where they can speak to somebody as an outlet for some confusing emotions. This may seem like a big cost in the short term, buy our children will reap the benefits in the years to come.

Be careful bringing family and friends into the process

It is not just your kids you must consider during this time. In fact, there are other family members who will also be affected by such changes. This could be when your parents are close to your spouse, and when they could try to step into the process as a way of protecting you from harm. Although it is primarily you and your kids who will be suffering, you should not forget that this is a time of change for your mutual friends and family, who may feel as though they need to pick sides. Be careful about the details you divulge. Although it is important to have support and advice it is also important to ensure the de

Have a strong support network

Even if you can avoid bringing your friends and family into the middle, that doesn’t mean you should cut off your support network. This will be a difficult time for everyone involved, which means you will need emotional support to keep you going strong. Asking siblings, friends, and parents to be there for you is always a good place to start, as they can supply a shoulder for you to cry on in your time of need. Despite this, they could be dealing with some other commitments that make it harder for them to be there for you as much as they can.

Seek professional help

When your support network can’t be there for you as much as you need, then you should consider seeking professional help. This means you can learn how to deal with the process in a calm and collected way, while still enabling yourself to have a space to grieve in. Therapists are not only there to talk issues over, but to equip you with some valuable advice that you should take. Such advice will help you move onto the next stage in your life with fresh, new eyes, and with hope rather than dread. It will also stop any emerging mental health issues in their tracks.

Consider what you want

Ultimately, you should never be forced to stay in a marriage that is making you unhappy. While there are other people to consider, you can’t live your life for what they want you to do, as you will find yourself unhappier for a longer stretch of time. During a divorce, it can be easy to put it off for this reason. It will be hard, but if you take the leap to do something that makes you happy, you should not feel guilty about divorcing who isn’t right for you.

Don’t be selfish

At the same time, there are some people who put their own needs above everyone else’s, which can come at the cost of other people’s emotions. It is easy to assume that putting yourself first means being selfish, but this is not the case. For example, you may wish to start seeing other people, but you can hold off from this until after the divorce is finalized, or you will be making your chances of having a fair and amicable divorce slim. At the end of the day, your kids should be at the heart of this process, but if you know what is best for you, then this should be what is best for your kids, too.

Try not to rush into something new

Going on a rebound is one of the first things people do after they have split from someone they have been dating for a long time. Although this can be fun, it is easy to get caught up with excitement and make careless decisions. The key here is to learn how to spend time being happy by yourself, which will make you stronger in the long run. It will also put you in a better headspace, so that the next time you meet someone, you can have a better relationship than your previous one.

Pay Off Your Debt Early in 6 Easy Steps

February 15, 2018 by admin

Debt is a common burden in today’s society, and one in which many people are even encouraged to take on in certain circumstances, such as mortgages, student loans, car payments, and even for credit card rewards. However, all debt must be repaid eventually, and if you do not pay close attention to your spending habits, such debt could quickly add up to a high amount, especially when interest comes into play. If you have accrued a lot of debt, do not worry – there are programs and companies that can help you manage and decrease your debt as quickly as possible. Here is a list of six things you can do to pay down your debt as quickly as possible.

Consolidate Your Debts

There are companies that will give you a “debt consolidation loan,” which means they combine all of your debts into one loan so you only have to pay one amount every month. This makes the debt much easier to handle and pay off. This is a great option if you have a lot of different kinds of debt, so make sure to look into this option first. If you happen to live around Sydney, search for companies offering debt consolidation Sydney residents are hiring.

Make Payments Higher than the Minimum Amount

If it is at all possible, try to make payments above the minimum amount every month, or at least as often as you can afford to. Oftentimes, the minimum payment goes mainly towards the interest on the loan, so it is difficult to pay off your actual balance by only paying the minimum amount. If you pay even a little bit more than absolutely necessary every month, you will pay off the principal amount much faster, which in turn will lower the debt much faster.

Prevent More Debt

When you are trying to get out of debt, it is very important that you prevent more debt from occurring. If you cannot help but spend money with your credit card, cut it up. Do not buy other expensive items like new cars unless it is absolutely necessary. Once you take on more debt, it will become even more difficult to pay off your debts, so do whatever is necessary to not take on any more.

Make a Budget and Stick to It

This is a very important step, because some people do not truly know where their money goes every month. Print out your bank statements for the past three months and write down exactly what each dollar was spent on. Then, create a budget – and stick to it! When you do this, you will have much more money to put towards your debts.

Cut Out Unnecessary Expenses

When trying to get out of debt, cut down on eating out, going to movies, buying concert tickets, and everything else that is not food, lodging, and other essentials.

Earn Extra Money

Consider picking up a part-time job or side hustle to earn a little extra income. Then, use that extra income to go ONLY towards your debts. This will quickly make a difference in the amount you owe!

Hopefully, this list will help you get out of debt as quickly as possible so you can begin to spend your money more wisely and save up towards the things you want. Debt consolidation is a great option, so find out more information today.

Fix Your Finances After A Workplace Injury

February 2, 2018 by admin

Source

Workplace injuries are a common emergency situation many people find themselves in, even if you’re living a nomadic remote working lifestyle. It’s estimated that roughly 374 million non-fatal injuries and illnesses occur in the workplace every year. These can result in expensive medical bills, disability, and the inability to work. If you have a family, your priority is to look after them, but this can prove stressful, especially if you’re no longer earning a fixed income.

Luckily, there are many things you can do! Here’s a rundown of some of the most helpful tips so that you don’t have to worry about finances while you’re recovering from your injury.

Apply For Worker’s Compensation

In Australia, you can apply for worker’s compensation if you’re injured at work. According to the Worksafe website, an injury is defined as a personal injury that arises out of, or in the course of, employment if the employment is a significant factor to the injury.

You’ll be covered for things such as lost wages, hospital expenses, and rehabilitation treatments to help you get back on your feet.

What If You Can’t Go Back To Work?

It might happen that you’re not able to return to work, such as if you lost your arm and won’t be able to do your work without it. You could find yourself without a job, and your worker’s compensation will eventually run out. This is a stressful prospect, but it doesn’t have to make you feel helpless. There are still things you can do.

A) Contact Your Insurance Company

Does your insurance policy state that your bills would be covered if you were injured and unable to work, or that your income would be replaced? Check it out! For instance, Income Protection will replace some of your income if you can’t work. According to MoneySmart.gov.au, there are different Income Protection policies that offer benefits, but you’re likely to get cover for up to 75 percent of your gross income for a maximum time period stipulated, such as two or more years.

If you’re disabled after the accident, Total And Permanent Disability (TPD) insurance can cover various costs related to your disability, such as rehabilitation costs as well as debt repayments or the cost of living. Insurance policies can therefore be a huge help after a work-related injury.

B) Consult With An Attorney

According to attorneys Tait and Hall, anyone who’s experienced a personal injury can gain justice for it. An attorney can help you in various ways, such as if your insurance claim is denied or your employer isn’t communicating with you during this stressful time. Sadly, some employers try to get out of taking responsibility for injuries or illnesses that occur to their employees at work, which is why it’s essential to get a professional who can help you navigate this scary and foreign territory.

C) Consult With Your Employer

If you could still do some aspects of your job in spite of your disability or illness, speak to your employer about your employment options. For instance, if your job requires you to write or do accounting work, you could do this anywhere as long as you have a laptop and internet connection. These jobs enable you to work remotely, which is especially beneficial if you can’t drive anymore due to your injury. Working from home would ensure you continue to earn an income in spite of your illness or injury.

When you get injured or ill due to work, it can be devastating and lead to a great deal of financial stress. By gaining control of your finances and achieving some financial support, you can help yourself and your family through this trying time.

Borrowing Money When You Have Bad Credit

January 17, 2018 by admin

If you are having financial problems, you are going to want to tread very carefully. There is an opportunity to get yourself into even more trouble. There is a chance that you can go even further down the rabbit hole and find yourself in a situation where you are going to need to find a way to get money.

Maybe getting that money will mean that you are able to pay off your debt, the problem is that if you have bad credit, you might not be able to get that loan. The good news is that there are loan options you can get that will be willing to allow you to borrow money with a low credit score. The drawback for some is that the low credit score means your interest rate is going to be higher than you might see from a bank. However, looking for a personal loan for bad credit is an option on the table worth considering when few others exist.

You’re going to need to keep close tabs on what you owe and you should absolutely make sure that if you take out this kind of loan, the goal should be paying it off as soon as possible. The good news is that the companies who give out these kinds of loans tend to understand that cash flow is a problem. That means that the companies tend to give you loans that will allow you to not have to pay off at one time more than you can afford.

When you want to borrow with a low credit score and not have to pay higher interest rates, there is another way around. You can go get a cosigner that will boast a better credit score that can help you out. You will be able to get some money that will help you pay off what you owe and you won’t have to worry about paying the money back sooner than you would like.

These kinds of loans can be used to help you pay off your mortgage. They can be used to help you pay off your utility bill. The good thing about these kinds of loans is that there isn’t a standard reason for why you need it. You can take out one of these loans and go buy Christmas presents if that’s how you want to use it. Or, they can be used to cover the costs of an emergency repair job. There is very little doubt that you can use that money however you need it.

It’s important to know that you should use this money in a way which does not result in more debt. That’s just good practice no matter what kind of loan you are taking out because you don’t want to end up exacerbating your problems by going into deeper debt in the long run.

Most of these companies understand that they are going to be giving money to people who only need a bit of a financial boost. You should be looking at this as a kind of extra boost for a short period of time, but you should never start looking at these kinds of loans as a long-term solution. You need to get yourself moving in the right direction financially eventually. These short-term loans can help you get pointed in the right direction, but at some point, you need to get yourself moving in that right direction all by yourself.

Auto Insurance the Right Way

December 7, 2017 by admin

It’s finally happened – all the paperwork is done and you hold in your hands your first set of car keys to call your very own. But what about insurance? With so many plans and companies and things you seemingly need to know and do to pick the right one, how exactly do you pick the right one for you? We’ve narrowed it down to a couple top things to keep in mind when you’re looking to pick the right car insurance provider.

Compare Online

Sounds simple, but is it? It is! You can save money by comparing online on price comparison websites which showcase costs and plans alongside one another for easy viewing, helping you make the best choice for you.

Maintain Good Credit

As with other types of insurance like life insurance, if your credit isn’t good, chances are your premiums will be higher making it difficult to get a truly good deal on your insurance. Check your credit score often and do your best to adjust it where you can.

Set The Right Deductible

Having a higher deductible reduces your premium, but it means you will pay more out of your own pocket upfront in the case of an accident. If you have a good accident-free history though, it could be worth the gamble to reduce your premiums. This can save you money on your insurance per month.

Beware Of Scammers

Crooks can rip you off by staging accidents or doing things like purposely slamming on their brakes to make you run into them and then claim that you are at fault. In every situation never claim responsibility upfront, always photograph the scene, and be sure to always phone the police to report the situation.

Reduced Mileage, Reduced Price!

If you aren’t using your car much if at all due to being ill, losing your job, working from home or other reasons, be sure to report it to your insurer. Less use of the vehicle means you can qualify for lower premiums. Just be sure to be truthful and not do this then use the car as much as you had been as anything that happens outside the world of your claimed use of the car may not be covered under this adjusted plan and will leave you having to pay out of pocket.

Pay Attention To Mechanics

If you have an accident and need something repaired, keep an eye on who the insurers send your vehicle to. Sometimes the shop they use will have an incentive to use cheaper or non certified parts that don’t suit your vehicle best.

Take Advantage Of Special Offers

Often times, insurance providers will give special discounts or deals to drivers that have no accidents, are mature drivers, married or have taken special driver training courses then you may qualify for a special discount on car insurance. Likewise if you have special devices in your car that deter thieves can help cut costs on insurance too, such as fingerprint identification and more.

So if you’re looking for a good deal on your car insurance, consider looking into some of the tips above. You might be surprised at how easy it is to get a deal if you’re willing to take an extra class or have a special anti theft device installed. It’s always a great day when you get a deal, so what kind of deal will you go hunting for with your insurance today?