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Go-to considerations for life insurance purchases

The process of choosing a suitable life insurance is not as easy as one might tend to initially believe, considering the options provided by today’s market are quite extensive. Despite the variety you have in terms of insurance companies, you probably desire for the policy you go for to suit your situation perfectly, and in order to manage that, making your selection with some essential considerations in mind will be necessary. The following factors are usually the ones that should be prioritized in the process, so try to analyze them first:

Term life vs. limited pay whole life

When it comes to policy options, two major categories will be put at your disposal – term life and limited pay whole life. While the first option is accessible only for a pre-determined, limited period of time, expiring after the chosen date, the latter can be described as a contract between the insurer and yourself and demands payment during a specific timeframe, after which a premium renewing will not be required. The reason why many people usually go for the limited pay whole life policy is because this remains in force even after payment completion, providing benefits to your chosen beneficiary in case of death.

Third party company ratings

The insurance company you choose to resort to needs to be characterized by an appealing level of reliability and for that level to be assessed, you should look into its financially stability. Luckily, you can rely on third party ratings to figure out if you are in fact eyeing a reputable firm that will meet its promised obligations at all times or not. Check their score on various rating platforms, and see if they have been evaluated positively, or if there are any red flags you should be aware of. Ratings and reviews will make your overall choice much easier, so never skip this particular step.

Company paying ability

The cash reserves of an insurance company are the ones that can ensure their paying ability in emergency situations. Because there’s always the risk of too many claims being made, which puts the profitability and capabilities of a firm at risk, you should be certain that the company you select has enough premium reserves available, and they have focused sufficient of their attention towards paying ability. Find out how much money the insurers have in reserve, and based on this answer, you can conclude if they could benefit from protection in the eventuality of an economic crisis or financial emergency.

Buying life insurance can be a wise decision to make, ensuring your loved ones of complete financial protection if an unfortunate incident happens to you sometime in the future. However, despite the obvious benefits of being fully insured, the number of policy options and insurance companies on the market can make your choice a bit difficult. This is why you need to have these major, relevant considerations in mind when you are trying to purchase the ideal policy for your situation.

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7 Things You Should Know When Filing Business Taxes Online

Filing your taxes can seem like a daunting task. Here are 7 things you should know when filing business taxes online. What are your tips to filing taxes online?

If you’re like most, you’re probably wanting to make your money go farther, but alas, there are taxes to be dealt with. As much as we’d like to ignore them, they have to be paid.

As a business owner, you should consider filing business taxes online. You have to be even more meticulous with taxes than individuals do, but with online filing, you can reduce the amount of paperwork you have lying around.

If you’re an employer, you’ll need to handle certain taxes for each person you employ. If you are self-employed you’ll run into different requirements.

Filing taxes on your own can be tricky, but it doesn’t have to be. As long as you know what you’re doing filing business taxes online shouldn’t be difficult.

Would you like to successfully file your business taxes online? Read on for seven things you should know.

1. You Must Be Aware of Deadlines

Tax deadlines should be strictly adhered to by business owners. But don’t default to thinking your taxes are due when the rest of the population’s are. You may be surprised to learn that some types of businesses have different tax deadlines.

April 15 is the general date for individuals to file, and that does apply to some businesses. But it doesn’t apply to all. If you’re a sole proprietor or single-member LLC, your tax filing deadline will be different than the one for partnerships or multiple-member LLCs.

Be aware that your tax deadline may be earlier than the standard date. Plan ahead throughout the year so you won’t be surprised when the deadline arrives.

If you pay estimated taxes, you must pay regularly throughout the year. You’ll make one payment per quarter. In order to make these payments on time, you must be aware of each year’s quarterly payment due dates.

If you don’t pay estimated taxes, your taxes should be withheld automatically throughout the year.

Missing tax deadlines results in penalties and fees. Since you don’t want to get hit with those, be on top of things and don’t file late.

2. Understanding Tax Terms is Important

It’s awfully hard to file your own taxes when you don’t understand the tax lingo. Business owners should be familiar with tax terms throughout the year and at tax time.

Here are some common terms you should know:

Withholding

This refers to taxes that are withheld from employees’ paychecks by the employer. You’ll do this throughout the year for both federal and state taxes.

Tax Credit

Tax credits are items that help you lower the amount you owe in taxes. Some credits are provided specifically by the government. For example, solar-powered businesses receive a tax creditfrom the federal government for helping the environment.

Deduction

Deductions also help reduce the amount of taxes you owe. They do this by lowering your taxable income.

Throughout the year you can deduct certain things from your income, which lowers the taxes you’ll have to pay. Business expenses and charitable donations are common deductions.

If you work from a home office you can likely deduct business expenses. Paper, printers, computers, and ink all fall into this category. If you bought it for your business, try deducting it.

Business travel and auto expenses may also be deducted.

3. You Need to Understand Tax Form Types

Knowing your way around different types of tax forms is essential to filing your taxes correctly. You’ll likely need to understand more form types as a business owner than you would as an individual.

When filing your business taxes you need to make sure you’re using the correct form.

A sole proprietor must file Form 1040, along with a Schedule C. A partnership must submit a Form 1065.

Corporations need to file either a Form 1120 or Form 1120S, depending on their type of corporation.

Besides the form you submit as an employer, you’ll also need to understand the forms that deal with those who receive money from you. This must be done correctly if you want to have all the right information at tax filing time.

Common forms you may need as an employer include:

  • W-4: Have all employees fill this out so you know how much tax to withhold throughout the year.
  • W-2: This is the form you’ll send to the IRS and to employees to report the amount of taxes withheld from each employee’s income.
  • W-9: If you provide income for any independent contractors, they must fill out this form to provide you with important tax information, including name, address, and tax ID.
  • 1099-MISC: This is the tax reporting form you’ll send out to all contractors who earned $600 or more from you during the year.

Keep track of each of these documents for every employee or contractor if you want to have an easy filing experience.

4. There Are Multiple Methods of Filing Business Taxes Online

Various options exist for paying your business taxes online. UltimateTax and other companies providing tax software may be a good option for you to consider. This may especially be nice if your taxes are a bit complicated.

Talking to a professional can be very helpful, since business owners with employees are responsible for several taxes, including Social Security, Medicare, and Federal income tax withholdings.

Research each option and go with one that you feel comfortable with. Online programs come with various price tags, benefits, and services.

You can also skip the middle man and pay your business taxes directly through the IRS website. Their site provides many options for filing your taxes online.

5. You Might Want Help

Before filing your taxes online, make sure you have the knowledge to do so correctly. Taxes can be tricky, and though filing online may be convenient, you want to make sure it’s done right.

If you’re confused, consider using a professional. More than 1.2 million returns were audited in 2015, so it’s better to play it safe than assume you know what you’re doing.

Understand your responsibilities as an employer. If you provide income to independent contractors, you’ll need to pay attention to each contractor and their earnings.

If you’re self-employed you’ll likely have to pay self-employment taxes. Make sure you calculate these to the best of your ability and pay the estimated amounts quarterly. Prepare by looking ahead so you don’t miss any deadlines.

If you’re confused about any aspect of filing your business taxes, you can still file online, but you should probably seek some help.

6. All Information Must Be Correct

Before submitting your tax documents, make sure all information is correct. You’ll likely have a lot more information to track when paying business taxes as compared to personal taxes.

Know each employee or contractor’s tax identification number and double check that they are correct. Make sure names–including spellings–match Social Security numbers while you’re at it.

Audit yourself to make sure all your calculations are correct. Do this when considering taxable income, withholdings, estimated tax payments, credits and deductions, and any other numbers that may be involved.

Make sure your math was done correctly! You don’t want your return to have errors in it.

Verify that all information is in the right place. Make sure everything is on the right line and that all required fields are filled in.

You’ll also want to make sure that your bank information is correct so you can receive any funds that will be sent your way once you file.

7. Tax Records Should Be Kept

As you wrap up filing your taxes, don’t forget to keep all records associated with your filing! In general, tax papers should be kept for at least a few years. You’ll want to keep them around for your reference, as well as any audits that may come your way.

You’ll also be glad you kept these around if any changes are sent to you after you filed your taxes.

Keep these files organized and in an easy-to-access location. Also make sure they are secure since they’ll include sensitive information, such as Social Security numbers.

For a less-cluttered way of keeping your tax records, consider saving digitized copies. Just make sure to save multiple copies or backup your records often so you don’t lose them accidentally.

Get the Job Done

You want your business to run as smoothly as possible. With that comes knowing how to properly handle taxes.

When tax time comes around you don’t want to be scrambling. Send out all required forms in a timely manner and organize all those you receive.

Business taxes can be daunting since so many numbers may come into play, but filing business taxes online doesn’t have to be hard.

Use an online program to help you organize and submit your taxes if needed, and follow the guidelines set forth by the government. As long as you understand the requirements for your business and keep things organized, filing your business taxes should be a breeze.

Did you find this information helpful? Let us know by contacting us today!

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The Most Important Credit Management Tips You Need to Know

Taking good care of your credit score is important, and it’s easy if you know what to do. Here are 10 important credit management tips you need to know about.

Maintaining a good credit score is important to your financial health. Without good credit, you could pay thousands more in interest on home and auto loans, not to mention personal loans.

And, it’s nearly impossible to convince a credit card company to extend credit to you if you can’t prove that you’ll be able to make payments on time.

But, how can you know where to start with credit management practices, especially if you’re just establishing credit for the first time? Maintaining good credit goes beyond making your payments on time, although, that’s a good place to start.

If you’re interested in credit management tips to help you maintain or improve your credit, then you’ve come to the right place. In this article, we’re discussing ten tips that will help you stay on track and get you moving forward. Keep reading to learn more.

Know Your Credit Score

One of the most important things you can do to maintain good credit is to know your credit score at all times. It won’t do you any good to stick your head in the sand because if something changes on your credit report that affects your score then you need to be able to react in a timely manner. You can review your credit score for free online with credit management tools like those offered at Credit Karma or other credit management sites.

Credit Management

While sites like Credit Karma are good for periodically reviewing your credit score, you should obtain a free copy of your credit report at least once per year. You can do this by contacting the credit bureaus directly. It is suggested that you ask for one credit report from each agency, Experian, Transunion, and Equifax, quarterly so that you can see changes in your credit report.

Make sure that all of the information is accurate and if you find discrepancies attend to them right away. Don’t allow things to linger on your report or it could be more difficult to have them removed later.

Accuracy

When applying for new loans or credit cards, it’s important to make sure that the information you provide is 100% accurate. This information will report to the credit bureaus and errors could cause damage to your credit score. It’s also important to keep in mind that you should update address and employment changes as they occur to prevent inaccurate reporting.

Budget

Credit management goes beyond your actual credit report and score. You should also maintain a monthly household budget that outlines expenses and income so that you know what you can afford. Be sure not to use credit to overextend yourself or you could find yourself in a financial situation that’s difficult to get out of.

Make room in your budget for unexpected expenses as well. It’s a good idea to have at least three to six months living expenses saved up in case of a gap in employment or other pitfalls that may occur.

Credit Accounts

Creditors look at your credit history to gain a better understanding of your financial capabilities. You need to have some credit, but not too much. Remember, don’t overextend yourself.

The rule of thumb is to have no more than two or three credit cards like those offered at Bonsai Finance and one loan, such as an auto loan or personal loan. You may also have a home loan which will help prove financial stability as long as you’re making payments on time.

Pay Bills on Time

Late payments will impact your credit score negatively and could prevent you from obtaining new credit in the future. Make sure you pay your bills on time and it’s never a bad idea to pay in advance if you can afford it. You can also set up recurring or automatic payments to be deducted directly from your banking institution to ensure that you don’t forget.

Mix it Up

A good mix of credit accounts will show that you are responsible handling multiple accounts. Credit cards are a good option for people that are just starting out, but it’s also a good idea to have a personal loan or some other loan type revolving so that creditors can see how you manage different types of credit.

Keep Credit Card Balances in Check

Don’t go over your balances on your credit cards. In fact, you should do your best to keep each balance below 30% of your total credit line. This shows lenders that you aren’t tempted to charge more than what you can afford.

High, outstanding debt will affect your credit score negatively because it will make you appear to be a high-risk borrower. Keep those balances low.

Closing Accounts

Be cautious when closing accounts because it could result in an increase in your overall credit utilization rate. Also, closing accounts that are in good standing can affect your credit report negatively if you haven’t had credit for very long. If there are no balances, you may be better off leaving them alone until you can establish a longer credit history.

New Accounts

Only apply for new accounts as necessary. And, if you’re rate shopping, say for an auto or home loan, make sure you have separate lenders pull your credit within 30 days of each other. This will result in one hard hit on your credit instead of several over a period of time.

Final Thoughts

Credit management is all about being as responsible as you can with your finances. You need to monitor your credit frequently and be cautious with your spending in order to maintain a good credit score.

It’s also important to be aware of identity theft. Criminals are constantly looking for ways to hijack your good credit and make use of it for themselves. Make sure that you keep important information about yourself confidential and only use your social security number as required for loan approvals or similar functions.

Keep these tips in mind in order to ensure that your credit stays in good standing. And, if you run into a hiccup with your monthly payments, make sure to contact your creditors and keep them informed. Some lenders will allow complimentary payment arrangements to help keep you on track.

For more help to stay financially healthy, check out our blog for more posts today.

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A Quick Guide to Saving For Retirement

Saving for retirement should be a priority in everyone’s life. Here’s a quick guide to help you learn how to get started and stay with it.

Rarely do you start thinking about retirement until much later in life, but experts say you should start planning as early as possible. If you start saving for retirement around the age of twenty five, you’ll be set.

Being prepared is wise, and when you’re much older, you’ll be glad you thought ahead and continued to read this guide for tips and ideas to start saving for retirement.

How to Start Saving for Retirement

The easiest way to start saving for your retirement is to open a 401(k) with your employer. And in some cases, employers will match the amount that you put into you 401(k).

It’s simple because once you’re signed up for one, the money is automatically deposited into the 401(k) before taxes are taken out of the paycheck.

You can contribute as much or as little into your 401(k) as you want, but remember it’s your future you’re planning.

Another solution to consider for retirement planning is a Roth IRA. While the money you may contribute to a Roth won’t be matched by an employer like the 401(k), and you’ll use your taxed dollars, when you retire you’ll be able to withdraw the money tax-free.

Investments and Emergency Funds

Aside from saving money for your retirement, you can do a few other things with your money that will ensure you have plenty of security and savings for your future.

Investments are another great way to set up for your retirement and can contain three different forms of “asset classes”:

  • Stocks
  • Bonds
  • Cash

In some cases, you can even keep all three of these. Investing in stocks and bonds can be done individually or through a mutual fund. Real estate and gold are also options for those who want to keep it varied.

Using an investing tool is going to help you navigate the world of stocks and bonds while you start building your investment portfolio, and this blooom review has valuable input for investors who are just starting.

It’s never too early or too late to start an emergency fund. You never know when something unexpected could happen, like job loss, car repairs, or an accident. With an emergency fund, you wouldn’t have to use a credit card to live on.

Opinions differ on how much you should save for an emergency fund, but it should be an amount that you could comfortably live on for an extended period of time. However, having enough saved to feel safe is what counts.

You can start by calculating your expenses for each month. Say you use $2,000 a month and you want to save for a three-month emergency fund. You’ll need to start setting aside money until you’ve saved $6,000.

A standard home loan may not help you during retirement because you may already have difficulty paying your bills. Adding a mortgage payment may make handling your financial issues much harder. Lenders have developed reverse-mortgages to combat that issue. If you are of retirement age you qualify for that special loan type, which will provide you with money on an ongoing basis throughout your retirement. The terms a reverse-mortgage lender will set will not involve any need on your part to repay the loan immediately. They will be based on amounts determined by specific formulas, but you can use a reverse mortgage calculator to get a rough estimate. Unlike a standard loan, when you take out a reverse loan you will be encouraged to continue living in and owning your home for as long as you wish and spending the money allotted as you see fit. The balance will be owed when the home is no longer yours through death or a voluntary change of residence.

Financial Security and Peace of Mind

Financial security will never go out of style because it affords everyone the ability to live their lives without fear of what the future holds. No one can predict their future, but you can be as prepared as possible.

Check out our blog for more financial information and more lifestyle hacks!

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What to Look For in an Online Broker: A Guide

Choosing an online broker doesn’t have to be overwhelming and confusing. Click here for a quick guide to help you find one that will suit your needs.

Did you know Americans spent $70 billion on the lottery in 2014? Imagine instead if they put that money into good portfolios and invested it instead. That’s where an online broker comes in.

Instead of letting your money sit in a bank, or get wasted on other frivolities, why not make your money work for you!

Consistently investing in profitable companies or stocks, can help you get a little extra cash to play with. When done well, it can even provide for your retirement.

The most important thing to get started is to find a quality online broker. Here are some things you should look out for when choosing your broker.

1. Good Reviews

Like every business, you’ll want to make sure that the customers that have used them in the past were happy. This can be checked by the quality of reviews that were left.

In fact, a quick search on the web will bring up a variety of long and short-form reviews by a number of reputable companies. For example, here are TD Ameritrade reviews by Investor Mint.

2. Do Your Own Research

While listening to someone else’s opinion is great, it’s even more important to form your own opinion on companies.

Be sure to do a healthy amount of research before you invest with anyone. Don’t just look at their most flashy numbers. Instead, decide what you want out of a broker beforehand and look for the ones that do that well.

Some brokers allow you to invest for free but charge you to get more information about the companies. Others charge you to invest but give you more analysis and data than you might know what to do with.

3. Understand ALL the Fees

Most brokers will charge you $6.95 for a stock trade. However, with hidden fees and commissions, it can feel like a lot more.

Before investing, make sure you understand exactly what rights you have and how to avoid hidden fees. Every penny counts.

4. Get the Most for Your Money

If you are paying to use a broker, you might as well get as many advantages and perks as you can. Look for online brokers that provide help in other areas as well.

Did you know some brokers will help you set up a retirement fund? If that’s something you think might interest you in the next 10 to 15 years, you should get it now.

While it’s possible to switch online brokers, it can put a dent in your earnings or result in fees. Most of the time people like to choose one broker and stick with them.

Find an Online Broker Today

The trick about investing in the stock market is to invest as soon as possible. The longer your money is earning interest on high dividend yields the better it will be for you.

Don’t delay finding a broker just because you might not know where to start. Instead, start doing research and educating yourself.

Check out our guide on how to give yourself a great personal financial education.

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10 Must-Read Tips to Get Your Loan Application Approved

Ready to apply for a loan and buy your dream home? Plan ahead to increase your chances of success! Here are 10 tips to get your loan application approved.

The fact of the matter is that, for most people, it’s impossible to buy a house without first securing a loan. Unfortunately, securing a sufficient home loan is far from a given.

It’s for this reason that you need to take the loan application process very seriously. If you’re going to have your loan application approved, you’re going to have to have your ducks in a row.

Here are ten must-read tips to get your loan application approved.

1. Have a Down Payment Available

When applying for a loan, a down payment is an absolute necessity. Different loans require different sized down payments, but in most cases, it’s required that between 5% and 20% of the listed price of the house is paid upfront.

To save up for a down payment, it’s recommended that you put monthly portions of your income into a savings account. The more money you can put down for a down payment, the better chance you’ll have of your application being accepted.

2. Ensure that Your Credit Score is Suitable

Just as a larger down payment increases the success rate of securing a loan, a higher credit score ups the success rate as well. Before you even think about applying for a loan, you need to make sure that credit score stands a chance.

At the very least, you’ll want to have a credit score of 600. The higher your credit score is, the lower your interest rate will be.

3. Have Your Debts Paid

Any unpaid debt which you’ve accumulated will affect your ability to have a loan application accepted. For this reason, you want to make sure that all of your debt is paid before applying for a loan.

It’s also important that, during the loan process, you don’t apply for any additional loans or credit cards. This can hurt your credit, affecting your chances to get the loan that you desire.

4. Get Pre-Approved

When searching for homes, it’s a good idea to get pre-approved for a loan to understand what type of loan you can expect to apply for in the future. To become pre-approved, all you have to do is submit some of your financial information.

If you’ve been pre-approved for a loan, you stand a much better chance of securing the loan you actually want when application time comes.

5. Be Realistic

One of the biggest problems people run into when they’re trying to have their loan applications accepted is that they apply for too big of a loan. This occurs because they’re attempting to buy a house that they can’t pay for.

It’s important that, when entering the loan process, you have a deep and realistic understanding of your financial situation. The size and quality of the loan you secure are directly affected by the amount of money you make, and the amount of credit you’ve built up.

If you apply for a loan that is not accommodated by your income and credit, you stand very little chance of your application being accepted.

6. Have Steady Employment

The two biggest factors which affect your ability to secure a loan are your finances and your credit. The third biggest factor is your employment. If you’re going to have your loan application accepted, you’re going to have to show that you’ve got steady employment.

It should also be noted that, if you’re thinking about changing occupations during the loan process, you should refrain from doing so. Changing jobs at such a time can affect the lenders perspective of you, preventing you from securing the loan that you desire.

7. Make Use of a Mortgage Calculator

If you’re going to take out an appropriately sized loan, planning is absolutely vital. How do you get a good idea as to what type of loan is available to you? By using a mortgage calculator.

Mortgage calculators allow you to enter different down payments, home prices, and interest rates, all the while showing what your monthly payment would be for each. Being able to play around with the numbers allows you to understand what loans are available truly.

8. Compare Loan Types

There is far more than just one type of loan available. FHA loans, USDA loan, and jumbo loans are just a few of the many mortgage loans around on the market today. It is your duty to research so you can decide which one is best for your purposes.

Some loans have lower upfront costs, but higher interest rates. Some loans have gradually increasing or decreasing interest rates attached to them. You can view here for more information on different types of loans available.

9. Maintain Close Communication with Your Lender

Just because the initial loan application has been submitted doesn’t mean that your job is over.

Once an application has been submitted, it must be combed over by your prospective lender. It is vital that you maintain close communication with this lender until the fate of your application is revealed.

Your lender may require additional information, without which the application process can’t continue. Prompt and clear communication will help to get you through your loan process in a quick and (hopefully) successful manner.

10. Keep Your Credit Steady During the Loan Application Process

The best practice when applying for loans is to apply for only one loan at a time. Applying for several loans at once can cause a lender to think twice about whether or not you’ll be responsible for your future payments.

The key is to keep your credit as steady as possible during the application process. Make sure that your monthly payments are being paid, and that you’re not doing anything else to negatively affect your credit score. You want to be on your best financial behavior when trying to secure a loan.

Looking for Other Useful Information?

If you’re trying to get approved for a loan, you’re likely in search of a great deal of other information. Fortunately, we here at AMillionLives.com have that information.

Whether you’re seeking out information related to money, travel, business, technology, or otherwise, we can help you.

Have any questions? Contact us today!

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9 Hacks for Getting Out of Paying Your Traffic Fines

Nobody wants to spend their money on traffic fines. Check out these 10 hacks that will get you out a speeding ticket or help you contest it in court.

Somewhere around 112,000 people got speeding tickets today and every day in the U.S. That’s $6,232,000,000 (yes, billion) added to the county coffers all over the country each year. It works out to about $152 each person, each time.

It’s annoying to pay the fine, but add up your time wasted and the hit to your insurance and it becomes really expensive! But at least it isn’t Finland, where one speeding ticket cost a driver a whopping $103,000!

Getting stopped by an officer a time or two over a lifetime of driving is an expected experience. Getting out of paying traffic fines is an art. Check out these 10 hacks to avoid tickets. Scroll to learn more.

1. Avoid Getting Caught

First, don’t break the law. Wear your seatbelts. Do everything in your power to not call attention to you or your vehicle. If your car has a really loud exhaust system or burnt-out brake light, do yourself a favor and fix those things before hitting the open road.

2. Be Super Polite

You see the flashing lights. Slow down and carefully pull off the right. If it is dark and there is a well-lit exit ahead, pull off there. Keep both hands on the wheel while the officer is approaching.

Use the Sunday School manners you learned in kindergarten. Please and Thank You, Sir or Ma’am, might just get you off with a warning instead of a ticket.

3. No Drama Llamas

Don’t break out the hysterics. Crying never works. Neither do threats, protests or arguing. In fact, you could make it worse. The “Do You Know Who I Am?” game doesn’t generally impress the officer either.

4. Own Up Like a Grown Up

This does not mean confessing your sins. If the nice officer asks “do you know why I pulled you over”, you shouldn’t give more than a very polite and noncommittal “I don’t know”. Let the officer tell you what the problem is.

Once you know, if it is true, own up it like an adult. Perhaps you weren’t stopped for running that red light – it’s because you have a missing headlight. A fine response is a thank you and a promise to fix it right away. Again, you avoid the traffic fines.

5. Grovel

No whining about the unfairness of it all. No sarcasm either. Throw yourself at the mercy of the officer as much as your dignity will allow.

The officer still has the power to issue a warning instead of a ticket.

6. Get Information

If the officer writes the ticket, you can still avoid penalties if you can get the charges dismissed. So if it is a radar gun, find out about the make and model, its last calibration, etc. Many jurisdictions require the officer to record such information, so learn more about the system if you can.

Get the camera information if it was a red light or traffic camera. If the flash is miscalibrated or faulty, you get out of the trap.

If the stop sign you rolled through is obscured, get a photo of it. If there is a good reason you violated the law or the officer was mistaken, you could get out of paying the traffic fines.

Perhaps you sped up to avoid a hazard in the road or to get around an aggressive driver. Make sure you note that when the officer is writing and in your own notes. Get video if you can.

7. Prepare and Organize

There are only four basic reasons tickets get dismissed after the officer writes them: wrong factual information, defective equipment, defensive driving or officer fails to show up to court. You need to prepare your case for all possibilities.

Wrong information includes transposed license numbers, wrong middle names, wrong color vehicle, etc. If any of this happens on your ticket, make sure to note it!

8. Call During Office Hours

Ask for the officer’s business card. Politely, professionally and civilly telephone during business hours to discuss your case. Then try to give the officer all the reasons in the world to dismiss the charges.

Make an appointment to discuss your ticket if you can. Give the officer all the information you gathered. If the officer won’t or can’t relieve you of the ticket it is time for the next step.

9. Go to Court

If you want to avoid paying the fine, you are going to have to get the ticket dismissed. Start by getting a court date. The officer will need to be there. Sometimes they won’t be able to make it. Voila! Dismissed.

Change the date once or twice and you increase the chances the officer won’t be able to make it. Change the venue to a different courthouse (like the farthest one in the same county) to increase the chances your officer won’t show.

Have all of your well-organized material about your case ready to go. Remember your four reasons. If the officer shows up, you need to be ready to go with evidence to refute your ticket.

Final Thoughts

Getting a ticket is zero fun. Getting out of traffic fines takes some effort and patience to navigate. Remain professional, polite and nice. It may encourage the officer to issue a warning rather than a ticket.

If that doesn’t work and you need to go to court, gather information. There are several good reasons the officer mistook your action for a violation. Use that evidence to get charges dismissed.

If that is not feasible, make sure you make it to court and the officer is forced to try to attend. Change venue or date at least once to increase your chances. If the officer makes it to court, be ready with evidence to support dismissal.

Hopefully, these tips will help you avoid fines and stay on the road. To learn more helpful life hints, keep reading.

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DIY education on the subject of personal finance

According to a recent article on the FA News website, South Africans still have a tendency to be poor savers while at the same time being large borrowers. The conclusion is that the financial services sector needs to increase its efforts in order to try and reverse this position.

Statistics gathered by the Old Mutual’s Mass and Foundation Cluster indicate that South Africa’s metro working population uses approximately 19% of their earnings to repay debt. They also show that only about 48% of the 24-million people who have incurred or taken out debt are able to keep their payments up to date.

The problem stems from a lack of knowledge

Although the cost of living is on the rise, this is not the prime cause of the indebtedness and the failure to make payments on time. The underlying reason is the fact that these people suffer from a lack of basic knowledge about how finance works, and more importantly, what incurring debt can do to those who are ill-prepared.

A lot of people are too afraid to attend classes to educate themselves about personal finance. Many course simply cannot afford the cost of courses. There is, however, an alternative solution. You can teach yourself. As well as being much cheaper than enrolling on a course, it also does away with the stigma that many people are scared will be attached to them if they attend classes.

DIY education through reading

The alternative is reading the right books. The question that first springs to mind in most people interested in this option, is what books? Fortunately, you can find help with this online. An example is the Wonga ZA website and their page on “Recommended reading for personal finance.”

Reading is one of the best ways of educating yourself. It’s something that you can do in the privacy of your own home, away from prying eyes, and it is also quite easily affordable; especially when you take into account the benefits you will reap from the exercise, regarding your future financial situation.

Another great thing about educating yourself in this way is that it is something you can do at your own pace. Not only that, but you can also do it at times that suit you. You don’t have to be regimented about having to go to classes at specific times of day or night.

Improving financial literacy from an early age

We already know that one of the fundamental reasons for the increasing trends here in South Africa towards credit and lending, is the lack of financial literacy and this is particularly evident in the country’s youth. By starting financial education at an early stage in life, we can prevent the problem escalating in the future.

Self-education within the family unit is an ideal way of providing this learning. In addition, it will also help to build a financially literate culture as our children pass this knowledge on to their children in later life. In this way, together, the population can contribute to constructing a better, more financially aware South Africa nation for the future.

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How to make your money work harder for you

Tired of trying to get ahead financially, only to end up back at the bottom of the hill like Sisyphus? Know this: true wealth creation, like anything worth achieving in life, does not come easy.

Stop chasing ‘get rich quick’ schemes and embrace the harder road – it may take longer and you’ll expend virtual and real sweat along the way, but you’ll end up with real wealth at the end of your journey.

Let’s delve into a few of these ‘get rich smart’ strategies below…

Open a high-yield savings account

The historically low interest rates of the past decade have made saving money a challenge for those holding traditional savings and checking accounts. Fortunately, some financial institutions now offer accounts which offer a higher rate than the laughably bad 0.01% that many of us get presently.

With banks like UFB Direct and FNBO Direct offering rates of 1.6% on balances as of 2018, returns are still anemic compared to historical highs enjoyed during the 1980s. However, with the recent rise in direct rates by the Fed, you owe it to yourself to get a better deal for the money you choose to lock up in savings.

Invest in the stock market

Think the stock market is a scam? Tell that to investors who kept the faith during the lowest parts of the Great Recession – after hitting bottom in the 6,000s in the dark days of early 2009, the Dow Jones rebounded dramatically, rising to a peak of 26,000 earlier this year.

While there are jitters at the present moment, the forces of the economy always re-balance themselves in accordance with the challenges which confront them.

Still scared? Stick the investment portion of your paycheck in an index fund and carry on with your life. However, if you are willing to learn a bit about how markets work and are prepared to take on greater risk, you can achieve gains far above what the average investor earns.

Get familiar with a segment of the economy you know well, and then learn how to make money on eToro. Through trial and error and continuing study, you can achieve gains that will allow you earn lasting wealth.

Develop streams of passive income

Think ‘making money while you sleep’ is nothing but a scam pushed by multi level marketers? Despite its overuse by slimy businesspeople, it is possible to build passive income streams which pay you whether you are actively doing work or not.

The most tangible example of this arrangement can be found in investment real estate – an investor buys a house, cleans it up, renovates it, and rents out bedrooms and the basement at a monthly rate which exceeds the cost of the mortgage and property taxes.

Another old school method: stocks which pay dividends. This is a class of stock which pays out a set percentage of a corporation’s profits at set intervals – the more you own, the bigger the payout. By taking your dividend and re-investing it in more stock, you can build a nice passive income as your ownership percentage increases over time.

In the modern age, tech savvy entrepreneurs are earning a passive income online by doing things like setting up niche sites with Google AdSense ads, or by making compelling YouTube videos. As the number of sites and videos build up over time, the compounding income that results can reach a point where you can free yourself from the 9-5 grind.

Apply for a rewards credit card

If you are like most people these days, you probably run many expenses through a charge card. Ask yourself this, though – what perks do you get in return for your annual fee, or any interest you pay when you ending up running a balance?

The credit card industry is an insanely competitive one – get the most perks you possibly can. With benefits ranging from air miles you can redeem for flights to cash back incentives which can add up to a tidy sum, taking a couple hours to read over the latest offers could yield you thousands of dollars in free perks per year.

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Smart Ways of Managing Your Newfound Wealth

Many of us have at least once indulged in the fantasy of suddenly gaining a whole lot of money. Hey, it can happen. Perhaps we can win the lottery, or somehow a long lost relative leaves us their massive fortune. Exactly what would we do with a billion dollars?

Of course, it’s natural to think about buying luxury residences in Montreal when you can afford it. You may probably want to think about getting a Rolls Royce or a Lamborghini. The whole world beckons, and it’s not impossible that you may want to think about traveling to exotic islands, perhaps even in your own jet plane.

But there are lots of stories about people who win big in the lottery and then end up poorer than when they started. The same thing goes for celebrities who gain fame and fortune and then end up penniless and forgotten. If you don’t want that to happen to you then here’s a list of what you should do when you suddenly find yourself with a sudden influx of massive wealth:

  1. Don’t tell anyone. The first thing you need to do to protect your money is to shut up and not crow about it. That may not easy when you win the lottery and the news media publish your name, but don’t add to it. But if you’re the beneficiary of a wealthy family member, don’t crow about it.

The problem here is that some of your friends and family will be naturally envious about your good fortune. Then they will feel that they deserve to share in that literal fortune. What’s worse is that criminals may come after you to steal that money from under your nose, and their methods may involve kidnapping.

  1. Get a reputable lawyer. Don’t do anything else with your money. If you won the lottery, put your winning ticket in a safety deposit and take some time to calm down. Securing your money or your winning ticket is paramount. Then call a lawyer. Your best bet is someone whom you know is versed in trusts and estates. You can consult the American or Canadian Bar Association and can find an expert in wills, estates, and trusts. This lawyer will then tell you everything you have to do, and also recommend people that you will need.
  2. Form or consult a financial advisory team.This article won’t tell you how to invest your money properly. Usually, your lawyer should be able to recommend people and services that provide what you need. You will need advice on taxes, and on moving into a new home. Your personal security may become an issue. People will be asking for handouts and you can’t utterly ignore all of them if you want to maintain friendly relations with your family. Various professionals can include financial experts, trust managers, security people, and real estate agents, and perhaps even publicists.
  3. Realize your goals.For most people, the financial goal here is to maintain the wealth, and that’s different from trying to boost it. Since you already have more money than you need, you don’t have to try to double and triple your money in the future. The best goal here is to make sure that you will have money while you live, and you can still leave a sizable amount to people whom you love and will eventually leave behind.

Once you’ve planned for your money, do whatever you want. Travel the world, change careers, or even just relax in a new home. Hopefully your money doesn’t evaporate within your lifetime!

A Million Lives

Travelling in all its glory is fun and exhilarating but sometimes you might want to find some information on where to go, what to see and how to go about it from someone other than the go-to websites, especially when it comes to travel hacking and the coolest, most useful ways to get the most out of your next adventure.

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