Whether you are paying off a loan, renting an apartment, buying a house, buying a car, setting up health insurance or shopping for food, you will be a lot more successful if you understand the basic words involved.
A little knowledge about each word not only makes you smarter - it can also save you a lot of money.
Consider a federal loan consolidation program if you need to repay several student loans. All of your outstanding loans will be combined. Your monthly payment can be less than if you paid each of the loan obligations separately.
Check out studentloans.gov. This federal website shows that it is easy to apply for a consolidation from a student loan company. The loan company can arrange that you only receive one bill each month, with the bill automatically paid from your account (no late payment fees!). Some loan companies even offer an interest rate reduction which could save you thousands of dollars.
Some renters make the mistake of thinking that they don't need renter's insurance because the owner of the apartment or house has homeowner's insurance.
Renter's insurance and homeowner's insurance are different:
For example, if there is a fire in an apartment, the owner's homeowner's insurance would pay for the fire damage to the apartment's walls, roof and floor. The renter's homeowner's insurance would pay for the damage caused to the renter's belongings due to the fire.
Sometimes the credit score is called a "FICO score." FICO is an acronym for the Fair Isaac Corporation, a company that developed the method to calculate a credit score based on several factors, including:
A credit, or FICO score, can range from 300 to over 800. The higher the score, the better your chance to get credit at reasonable interest rates. People with scores below 600 may have a difficult time getting credit without paying high interest rates.
You can check your credit score every 12 months at no charge at AnnualCreditReport.com. AnnualCreditReport.com also provides tips on how to improve your credit score.
When evaluating the interest rate on credit cards or any type of loan, it is important to compare the APRs. This will give you a way to make a simple, side-by-side comparison of the interest rates of several loans.
Credit insurance is not required by federal law. If the lender is requiring you to purchase credit insurance, be sure to consider the cost and decide if it is worth it to use this lender, or should you use a lender who does not require credit insurance.
If your car dealer requires you to buy credit insurance for the car financing, the cost of the credit insurance must be included in the car's cost of credit and in the APR. This gives you the opportunity to compare the cost of the financing against another dealer who may not require credit insurance.
You can stay on your parents' health insurance until you reach age 26, regardless of your financial, dependent or marital status and whether or not you live with your parents.
If you don't have health insurance, or are not covered under your parents' plan, you could be liable for a penalty when you file your income taxes.
Starting in 2009 additional standards were implemented that affect electronic health records.
So, next time you are filing out a form at the doctor or dentist's office, know that your privacy is protected. The information you provide must be safeguarded and not be shared with other health care providers without your knowledge.
YourDictionary has compiled examples of HIPAA violations to give you a better feel for your health care privacy rights.
There are two types of IRAs - Traditional and Roth. With both accounts you can deposit up to a certain amount each year and you will earn tax-free interest:
Even though your cash flow may be tight, adding money into an IRA will provide you with tax-free interest now and tax-advantaged investment dollars when you retire.
Some common sources of endorphins are fitness exertion (such as the runner's high) and very hot foods (such as the chili peppers in hot sauce).
Need a little help to make it through the last part of your run? Just keep running...the endorphins will kick in. Having trouble pushing through a tough day? Consider adding a little hot sauce to your next snack or meal.
First, here's the definition: Organic food is grown or manufactured without chemicals or pesticides.
Second, here's when to buy organic: Some people only buy organic food, while others buy organic only when they plan to eat the skin (such as a peach); but they buy non-organic when they are going to peel off the skin (such as a banana).
Third, here's what to look for: A packaged food cannot be called "organic" if it is made with chemicals - even if the contents were grown organically.
The decision is up to you.