Planning For Emergency Financial Situations

Emergency financial situations can happen to anybody and any financial arrangement exercise is not ideal without planning for such occasions. The whole idea of having an emergency fund is to offer a cushion against any unexpected expense.

This will ensure it does not have any negative impact on your financial condition and does not rip off the whole financial security.

There are many circumstances which can cause a financial emergency such as a sudden illness, accident, medical emergencies, emergency house repairs, loss of a job, emergency car repairs and much more.

The major reason for having an emergency fund is very clear because when a person falls into an emergency financial situation, they will have to break their savings or make a compromise to get the needed money.

It’s not rare to find people who just take out their credit card and swipe it for hard cash. Opposing popular opinions, credit cards are the worst way to fund any financial emergency. The fastest way to get thousands of dollars its to get a car title loan it is not a long-term solution but a short-term solution.

In a circumstance where you’ve taken a cash advance with your credit card to get the needed money, the credit card company will charge you a cash advance fee with an interest rate. This is a very costly way to borrow and manage finances for emergency situations.

Therefore, what is the best amount that should be set aside as emergency money? There are diverse opinions on it. Some professional’s experts agree that a minimum of 3-6 months’ worth of monthly income should be set aside for an emergency situation. This amount can differ according to marital status, the size of family and lifestyle.

Everyone must reserve some extra cash in case of emergencies. But, the amount to reserve depends on your income and monthly expenses. The amount that is needed for your emergency fund is open to debate, the minimum amount should be sufficient to cover your expenses for daily living for at least 3 months. It’s also ideal to save for 6 months even though some financial advisers agree on a full year worth of cash.

These funds must be kept aside in an instrument, which is easily available when needed. It could be money in a bank account, hard cash, liquid funds or fixed deposits. This will ensure the fund is always accessible instantly or within a short period when it’s needed.

Where to Keep the Cash

Your situations and what can offer you peace of mind are the factors that can help you determine how cautious you want to be. Keep your emergency fund somewhere that is safe and accessible because you may be required to get the cash in a hurry when an emergency arises. The best option you’ve is to open a money market account or savings account. But, always examine their offer with regards to the interest rate, minimum balance, and other terms.

Owning a Car Vs Using Rideshare

It is not a secret that buying, owning, and maintaining a car costs a significant amount of money. Especially now, when gas prices are high and continue to increase. What if you could avoid paying as much as you do right now? Even while still getting to where you need to go?

Many city dwellers can. In fact, many people from Chicago are already dumping their vehicles and becoming reliant on rideshare. Current research has shown that it is in fact cheaper to use services such as Uber and Lyft in cities including Chicago, Los Angeles, New York, among others.

However, some people are hesitant to use these services due to all of the negative news stories reporting violent crimes involving drivers of such services. However, some services such as Uber are introducing safety features to help riders feel more comfortable reaching someone in case of emergency. It also helps hold drivers accountable by creating a stronger sense of authority, of being watched.

There are many benefits to using these rideshare services in bigger cities. In bigger cities drivers tend to have to pay to park their vehicles in addition to other typical costs such as gas, repairs, affordable auto insurance, etc.

On the other hand, some reports say that the cost of using rideshare will not be cheaper than owning a car until 10 years from now. But, it just depends what is best for the individual budget. In fact, news sites have even developed calculators to see if ridesharing is beneficial to your budget. Another detail that the calculator includes is the cost of time. A detail often overlooked by the monetary costs of things, but a detail equally, if not more valuable to people.

Additionally, there are options to “pool” with other rideshare users to eliminate even more costs. This option is not always the best depending on the intentions of your trip, but can be especially helpful for the commute to work, for example.

The increase in regular rideshare users creates another problem, unfortunately. The amount of cars picking up passengers has disrupted the flow of traffic in certain regions of the city, especially in Chicago. They have even increased fines of traffic violations.

The tickets and gas prices also seem to be turning away some drivers as they pay out of pocket for each item, in addition to possible rideshare insurance. But, drivers who discover that there is a growth in the city population using their services may attract attention to drivers hoping to make more money.

This then creates an issue for rideshare companies who are already struggling to pay their workers. Companies such as Uber who are providing benefits to European drivers, the costs will not go down anytime soon for them.

Overall, it may benefit the individual to utilize rideshare instead of owning a personal vehicle. But, there are many factors to take into account before switching over, both personally and the industry in whole. Rideshare is undoubtedly a hot topic at this time and does not appear to be dying down anytime soon.

How to Choose Your Ultimate Shoes That Will Get You Oozes of Compliments a Day

Buying the right shoes is an investment.

An investment in your foot health, but not just!

It’s also an investment in yourself, your look and the presence you project.

Why?

Because the shoes you wear say a lot about you.

They reflect who you want to be and what you want to show the world.

Different shoes will distinguish you,

Redefine you,

Tell a lot without saying a word.

We all know our self-image also depends on what we wear, and we change it,

And we can change how others perceive us.

But how can we find the right shoes to match our feet as well as our nature?

When you buy new shoes:

- Wait until the afternoon to try on new shoes – your feet tend to swell during the day, especially when it’s warm outside.

- Put on the right pair of socks, comfortable enough to wear with shoes.

- Our body is unsymmetrical, and often, one foot is slightly bigger than the other. Buy the shoes that fit well with the bigger foot.

- Always try out both sides, right and left. Finding out, much later that one side fits well, while the other is extremely painful, is not a great idea.

- Walk around. See how you feel. Enough room for your fingers? Check there is enough distance between your longest toe, and the tip of the shoe.

- If you’re not comfortable, do not presume the fit will improve in time. Find the shoes that’ll perfectly slip on your feet and make you feel wonderful from the second you put them on.

- Feel the inner part to check if any stitches or bumps might cause inconvenience, irritations or blisters.

- Test the soles. Are they strong enough to protect your feet? Try walking on solid, rough surfaces to see how resistant the soles are.

So, now that you know how to pick the right shoes without compromising on your comfort, it’s time to pay attention to design.

Here are a few style-selecting tips to add that life-changing presence:

How to choose your ultimate shoes that will double your presence in life and get oozes of compliments a day and remind you how special you are.

- Pick the shoes that will match your look and challenge your personality. Encourage a profound change in your style.

- Choose unique colored shoes that will fit your wardrobe and wonderfully upgrade your overall appearance. Colors add freshness and vibrancy.

- Pick the shoes with that intriguing design. You will probably be the only one wearing them in miles. Careful. Unique shoes draw the attention of complementing strangers in the street.

Prepare for ‘where did you get those.’

- Pick the shoes with quality, strong soles, and soft body, because when you’re comfortable, you’re beautiful.

- Search for hand-crafted shoes and feel proud supporting local manufacturing.

You can’t miss fine craft. Quality radiates with the prestige that declares who you are and what interests you.

- Keep away from overused trends. Purchase shoes you can wear for years.