Archive for June, 2010
Tuesday, June 29th, 2010
Do you own your own home or business? If you have a mortgage, and you are working, struggling to survive from paycheck to paycheck you are not alone. There are millions just like you were are in jeopardy of losing their home, because of foreclosure. Foreclosure is when one is behind on the mortgage payment, when you miss two or more payments to the financing company and the bank decides to take your home from you.
Foreclosure is going to wreck your credit, and it is going to leave you homeless. You will have to move out and to another place to live, and sometimes you can even end up owning additional money to the bank even after they take your home or business. If you are unable to pay your monthly payments, you need to find a way to get your finances back on track, to catch up on those payments, and to keep your home.
To get your personal finances back on track you can do a few things. First, if you have already received a letter from the bank about foreclosure you should call the bank. Find out if you can set up any payments to avoid foreclosure. Ask if there is anything you can put up against the house to avoid losing your house. Foreclosures are not something that the bank or financing company likes to do, but must do in the case of your non payment. If you have a retirement account, if you have CDs or any type of savings this could be the time it is going to pull you out of trouble and for you to avoid foreclosure.
If you have nothing you can fall back on, and the bank states there is nothing you can do to avoid foreclosure you need to get moving on a back up plan. You need to find a place to live, and for your family to move. You need to get out of the house that is being foreclosed, and you need to take with you the stuff you can before the house is locked up by the foreclosing company. The foreclosure of your home mortgage, can often times include the sale of all your personal items to help the bank recoup some of their money they lost on your mortgage. The foreclosure of your home is going to cost the bank money, in interest, payments, and more money in the cost of having to resell your home, which is why items in the home are often auctioned off by the bank.
A foreclosure process is actually quite a long one. If you have missed one payment on your home mortgage loan, you will receive notification by the bank of your missing that payment. If you miss more payments, the bank will begin calling your home. The foreclosure process is going to start. You will not have more than three months, generally, before the foreclosure process begins not only to affect your credit, but also where you live, the items that you own, and your ability to obtain any type of help in resolving the matter.
To avoid foreclosure on your home, get a second job. Cut back on the money that you spend when you are out on the town. Avoid spending money on things such as a cell phone, the car, television shows, extra activities, gifts and presents, avoid spending money that is not being spent on your home. Catching up on your mortgage payments for your home is something you must do to avoid foreclosure by the bank, and to avoid them taking your home.
Tags: Avoid Foreclosure, Bank Foreclosure, Financing Company, Foreclosures, Home Mortgage, Jeopardy, Money To The Bank, Mortgage Payment, Moving Plan, Paycheck To Paycheck, Personal Finances, Retirement Account, Stuff
Posted in ISA Savings | No Comments »
Tuesday, June 29th, 2010
Ah, the sweet rewards of using credit!
Not only do you get immediate gratification with the buy now-pay later plastic, but now, many credit cards offer rewards and incentives for using their card to make purchases. You can get cash back, or gift cards, or reward points that you can spend on merchandise or services from various merchants. There are also cards that allow you to designate your ‘cash back‘ points to a charity sometimes called affinity cards and those that put your cash back into a special savings account for college.
Great deal, right? You spend your money and get something in return. The catch is, of course, that youre paying interest and card fees to get your cash back rewards. But if youre going to be using the credit card anyway, you might as well get something back out of it, right?
Most cash-back cards give you 1-2% cash back on most of your purchases. Youll get a check at specified periods for the amount of your rewards cash. You can cash the check and spend the money on anything you want.
Reward cards give you 1-5 reward points for every dollar that you spend at different merchants and types of merchants. Most pay you 5 reward points for purchases made at their Merchant Thank You network, and for purchases made at gas stations, drug stores and supermarkets. Youll get 1 reward point for every dollar that you spend at other merchants. You can then redeem your reward points for particular items from the merchants that belong to the credit cards merchant network.
Which is the better choice?
Each kind of credit card reward has its own pros and cons, and the better choice depends on whats most important to you.
Cash-back Rewards Pros
Cash can be used anywhere, for any kind of purchase.
Gives 1% – 2% cash back on all purchases.
Cash-back Rewards Cons
Rewards points cards may give rewards of higher value, particularly for purchases at merchant networks stores, gas stations and supermarkets.
Cash-back can only be used when a check is issued.
Rewards Points Pros
Rewards points are often higher value than cash-back. If you use the credit card for purchases made within the merchant member network, you can get as much as 5% value back when you spend your reward points.
Reward points are available to use on a rolling basis. Some card companies may require you to accumulate a certain number of rewards points before redeeming them, but reward point rewards are often more easily available than cash-back rewards.
Reward points can be used for cash rewards in some circumstances.
Reward Points Cons
Reward points can only be redeemed from particular merchants and/or on particular merchandise.
Whichever your choice, it makes good sense to get something back when you choose to use credit. If youre a frequent credit card user, the rewards can certainly add up. Among the merchants that belong to various Merchant Member networks are such well-known companies as airlines, Saks Fifth Avenue, Evelyn & Crabtree and Smarter Edge.
Tags: Affinity Cards, Back Cards, Cash Back Rewards, Cash Cards, Charity, Credit Card, Credit Cards Merchant, Gas Stations, Gift Cards, Immediate Gratification, Incentives, Merchant Network, Merchants, Periods, Pros And Cons, Reward Cards, Reward Points, Rewards Points, Supermarkets, Sweet Rewards
Posted in Savings Accounts | No Comments »
Monday, June 28th, 2010
Are you tired of fighting high credit card fees? Why not lower your interest payments by transferring your balance to another card. Balance transfers are one the smartest and easiest ways to reduce credit card costs. Just be sure you understand the terms and conditions of the new card, so you can maximize your savings.
Before you run out and switch credit cards, consider whether you want to keep your current card. If you do, simply ask for a lower interest rate. Tell your credit card company you’ve found another card with a much lower rate and you’ll have to transfer your balance if they can’t cut you a deal. However, be prepared to do so if they refuse your request.
Why Use a Balance Transfer?
Balance transfers can provide card holders with a number of advantages. Transferring balances to a lower rate credit card can drastically reduce your interest rate and fees. Credit card companies charge varying interest rates on balance transfers and purchases. The most common rate is 0 percent for six through 12 months.
For example, the Chase Ultimate Rewards MasterCard and Citi Platinum Select MasterCard charge no interest for 12 months on balance transfers and purchases. The Discover Platinum Card and the Hess Visa from Chase drop the introductory rate after eight and six months, respectively.
Some cards link the introductory annual percentage rate (APR) to billing cycles. The GM Card and Fifth Third Bank Cash Rewards MasterCard, respectively, charge 0 percent APR for the first six and four cycles.
Transferring balances can also give you access to more perks. For example, you may be able to get a new card that has no annual fee, a longer payment grace period or cash back on purchases and other rewards. Some cards also offer car rental insurance, identity theft protection programs and money saving discounts.
How to Transfer Balances
Credit card companies commonly use low interest rate balance transfers to attract new customers. There are three main ways to transfer the balance on a card. One way is by simply filling out the paperwork provided by your new card issuer. Or you can contact the credit card company that you want to transfer a balance to and make arrangements for a balance transfer.
You can also shift balances by writing balance transfer or convenience checks. These simple checks look and act like regular checks. You simply write a check for the amount of the balance transfer and send it to the company you want to transfer a balance from. Some checks have an expiration deadline, so make sure you use them within the appropriate time frame. If you don’t, you’ll be charge the regular interest rate set for your card.
Regardless of which transfer method you use, you can only transfer as much as your credit limit on the card you are transferring allows.
Transaction Cost and Other Fees
Banks generally treat balance transfers like cash advances and have similar transaction fees. There’s no fee for balances transferred in response to special offers. But for Citi Platinum Select and many other companies, the transaction fee for balance transfers is 3 percent of the amount of each balance transfer, with a $5 minimum and $50 maximum. Keep in mind that a small amount of funds may not be worth transferring because the transaction fee may outweigh your potential savings.
In addition to standard transaction costs, banks also charge special fees that can take you by surprise. Some of the most common special fees include:
Late fees – Some banks wait a few days before assessing a late fee, but many impose it the day after the payment was due. Companies either charge a flat fee, such as $10 or $15, or a percentage, such as 5 percent, of the minimum payment due. To avoid late fees, mail off your payment so it arrives in plenty of time before it’s due. If you pay your bill at the bank’s branch or ATM, find out how long it will take to process your payment. Sometimes payments made at a branch or ATM aren’t credited for a few days.
Over-credit-limit fees – Most cards assess a fee if you charge more than your credit limit. These fees are charged each time you go over your limit, so you could be hit with several of them during the same billing period. Banks typically charge $10 or $15 for this fee or up to 5 percent of the amount you’re over your limit. These fees are in addition to interest charges.
Lost card replacement fees? If your card has been lost or stolen more than once and you need a new one, some companies will charge you for a replacement. These fees are range from $5 to $10.
Making Payments
After you transfer balances, be sure to make all your payments in full and on time or you’ll automatically be hit with higher fees. Generally, there’s no grace period for repaying balance transfers, so interest will accumulate immediately. (No interest will actually accumulate if you have an introductory 0 percent APR.)
When making payments, it’s important to understand that the payments you make will first be applied to balances with lower or promotional balances and then allocated toward higher APRs. That means you’ll be paying down 0 percent balance transfers before you even touch the balance on regular purchases which can be charged at a rate of 9 to 18 percent. As a word of advice, consider using a different card for your regular purchases and pay off the balance each month. Keep your balance transfers restricted to a separate card.
After the Promotional Honeymoon Ends
You need to keep a close eye on the promotional period. As soon as it expires, normal interest rates will apply. The standard variable APR for Citi Platinum purchases (8.99 percent) will be applied to all remaining purchase and balance transfer amounts. Likewise, the standard variable APR for cash advances (19.99 percent) will be applied to all remaining cash advance amounts. If you default on Citi Platinum’s card agreement, the company can immediately increase the APR on all balances including any promotional balances to a variable default rate of 28.99 percent.
Your post-introductory APR will depend on your credit history. If this interest rate is significantly higher than the rate on your old card and you have a remaining balance, you’ll wind up losing money. Of course, you could always transfer your balance to a new card with a lower promotional rate. Just be careful not to entangle yourself in a vicious cycle that could backfire later
To Compare Credit Card
http://www.bestcreditrates.net
Tags: Annual Percentage Rate, Annual Percentage Rate Apr, Balance Transfer, Balance Transfers, Billing Cycles, Car Rental Insurance, Card Balance, Cash Rewards, Citi, Credit Cards, Discover Platinum Card, Fifth Third Bank, Gm Card, Grace Period, Hess, Identity Theft Protection, Introductory Rate, Lower Your Interest Payments, Mastercard Charge, Transfer Balance
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Saturday, June 26th, 2010
This is probably the most requested topic that I receive, normally after someone gets a large unexpected expense, or they start thinking about retirement and realize that they have saved a woefully inadequate amount of money.
I recommend using a monthly time-frame to look at your cash inflows and outflows, because most bills are monthly and four weeks is a short planning period that most people can manage. The first thing to do is determine your monthly after-tax income. Usually, this is the amount of money from your paycheck that gets deposited into your checking account. If your income is variable, then use an average of the last three months. (Any savings account interest income would be a bonus.) Next, list out your fixed monthly expenses, such as rent, mortgage, car payment, phone, electric bill, etc. All of these numbers can be changed in the long-term, but first you need to determine a baseline budget of where you are right now.
Make sure you include all of your utilities; some are only paid quarterly or annually, like car insurance, the water bill, or an association fee. Take these expenses and calculate what they would be on a monthly basis. For example, if your water bill comes quarterly, divide it by 3. If you have semi-annual car insurance, then divide it by 6.
So now you have your fixed monthly income and your fixed monthly expenses. Deduct one from the other, and you have the variable amount of money that you are free to spend any way you want for the remainder of the month. From this remaining amount of money, start listing out your main categories of variable spending: groceries, entertainment, medical expenses, clothing, dry cleaning, personal care (haircut, nails, etc.), and gifts. Take each of these variable expenses and put an amount next to them that you think represents your average monthly spending for that category.
Make as many subcategories as you need to make an accurate estimate. The more precise it is for your spending habits, the more effective it will be for you. For example, food can be broken down by grocery store/fast food/dining out/work lunch/etc. Then go through the last few months of your checkbook and credit card statement looking for any spending that hasnt been covered so far that you need to include for your situation.
Now you should have a total number for your monthly income, total monthly fixed expenses, and total monthly variable expenses. The moment of truth is when you deduct the two expenses from your income to see if there is anything left over. Dont panic if it is a negative number it is far better to discover this out now, rather than building up credit card debt later. Most people comment somewhere along this process, Oh, so that is where my money is going. I had no idea I spent so much on that!
Seeing all the numbers in black & white can help you prioritize (and negotiate with all the other spenders in the family). From this beginning budget, you can start to set monthly targets for spending categories, you can focus on reducing the largest expenses, and find areas where you should start doing some price-comparison shopping. And did I mention that saving a 5-15% of your income should be an additional fixed expense? Yes, you need to pay yourself first!
Having a budget is the critical first tool in managing your money. Wielding this tool allows you to finally start making financial decisions based on the facts instead of fiction. You can plan for expenses instead of being caught by surprise. And most importantly, figure out how to move forward with goals like a big vacation, a new car, or investing.
Tags: Accurate Estimate, Amount Of Money, Car Insurance, Car Payment, Cash Inflows, Checking Account, Dry Cleaning, Groceries, Haircut, Home Budget, Interest Income, Medical Expenses, Monthly Expenses, Paycheck, Savings Account, Spending Habits, Subcategories, Unexpected Expense, Variable Expenses, Water Bill
Posted in ISA Cash | No Comments »
Monday, June 21st, 2010
Gold and silver coins, the famous “old world” currency, are fast becoming the “new world” currency because they offer the missing link in all paper currencies: a store of value.
Today, Americans are facing a pile of unpaid debts. At the helm is a new Fed chief, Ben Bernanke, who has already been nicknamed “Helicopter Ben” based on admitting he’d print enough paper currency and drop it from helicopters to keep the U.S. economy from sliding into a recession.
The Wall Street Journal recently published an excellent commentary, “In Gold We Trust,” by David Ranson and Penny Russell of H.C. Wainwright & Co. Economics. They explain why gold prices are the truest barometer of falling public confidence and of growing inflation. Here are a few key points they bring to light:
* Gold is the benchmark for the value of the dollar – not the other way around.
* The falling U.S. dollar is largely being ignored by Washington and Wall Street.
* Gold’s sharp rise represents an equally sharp decline in investor confidence.
* Gold is the barometer of public confidence in paper money.
* The dollar’s collapse of 60 percent since 2001 is a blow to capitalism.
Bottom line: The U.S. dollar is slowly but steadily sliding into oblivion, taking with it the hopes and dreams of all Americans, along with the value of their savings accounts and investments.
Most Wall Street pundits view gold as just another commodity, which they say is now overpriced due to a growing gold fever worldwide since 2001, causing central banks, hedge funds and others to buy gold for the first time in decades. Not so!
Gold is rising because it is real money. The solution is to convert a portion of your “paper” assets into gold – thus putting yourself on a personal gold standard.
Rising gold prices today are a big red flashing signal of coming inflation, which could take gold prices over $1,000 an ounce. So don’t wait to buy gold – buy gold and wait.
Tags: Ben Bernanke, Central Banks, Fed Chief, Gold Fever, Gold Prices, Hopes And Dreams, Investor Confidence, Light Gold, Paper Assets, Paper Currencies, Paper Currency, Personal Gold, Public Confidence, Silver Coins, Street Gold, True Barometer, Unpaid Debts, Wall Street Journal, Wall Street Pundits, World Currency
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Sunday, June 20th, 2010
We generally spend up to 40 percent of our food dollar out the home which is quit a smart money to spend like this and that can really put a bit effect on anyones budgets. Now cut off your restaurant bills with a restaurant coupon.
Now its very easy to save money on your restaurant bills with restaurant coupon. Restaurant coupon book are easily available in restaurant itself or you can get it online. Number of website offer you online coupon book where you can get all the list of restaurant with address if given where you can use your restaurant coupon.
In restaurant coupon book has got hundreds on coupon for fast food, causal and upscale restaurant. Which make your vacation full of fun and enjoyment? Some of coupon book has schemes like buy one and get one free its like in single price we are enjoying double. Isnt its great.
Restaurant coupon is like a boom for a traveler as they spend more while traveling as they stay far from home so they prefer to go out for food and have their meal at restaurant.
Now you can enjoy your food in expensive restaurant with your family and love ones, which is a great thing as we rarely take our family with us for a treat at restaurant.
This coupon is easily available at restaurant or gets it from online site. With a summer approach take an advantage of restaurant coupon books with your family and save much on your eat out.
Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Entertainment Coupon Book . For more details please contact at annajosephs@gmail.com
Tags: Address, Advantage, Automobile, Boom, Budgets, Coupon Books, Entertainment Coupon Book, Fast Food, Food Dollar, Freelance Journalist, News Releases, Paintings, Pet Health, Poetry, Restaurant Bills, Restaurant Coupon, Smart Money, Social Issues, Traveler, Upscale Restaurant
Posted in Compare ISA | No Comments »
Sunday, June 20th, 2010
An odd quirk in the recent legislation to extend the Bush Tax Cuts is giving IRA holders a huge break. For one year, and one year only, the income cap will be gone.
Convert To Roth IRA Regardless of Income 2010
2010 may seem like a long way off, but something magical is going to happen then if you prepare for it. The recent legislation extending the Bush tax cuts contains a unique clause regarding the Roth IRA. Specifically, it contains language that makes the Roth IRA available to anyone regardless of their income, but only for one year.
A Roth IRA is a retirement account that offers a lot of advantages. The primary advantage is found in the distributions from the account. Simply put, they are tax free if a couple of requirements are met. First, the distributions must be made after you pass the age of 59 years and six months. Second, you must have owned the Roth IRA for at least five years. If you meet this test, the money is yours free and clear including all the gains you have made from your investments over the years.
The only criticism of Roth IRAs has to do with income caps. Simply put, a person with a modified gross adjusted income of $100,000 or more cannot convert an existing IRA to a Roth. While many people fall below this income cap, those that were just over it certainly have had a beef.
In an effort to extend his tax cuts, the President agreed to a number of oddities in the new tax legislation. One of the strange clauses is a single year cap exemption. In 2010, the income cap of $100,000 will not apply to the Roth IRA. Put in simple terms, you can convert to a Roth in 2010 regardless of how much you make. You can only do it in 2010, not 2009 or 2011.
There appears to be no reason why the politicians would create a one year exemption to the Roth IRA income cap. It certainly seems a bit fishy, but you might as well take advantage of it. While 2010 seems far off in the future, it gives you time to plan any conversion. Remember, if you convert a traditional IRA to a Roth, you must pay taxes on the moved money. If at all possible, you will want to do this with cash you save between now and then. The more money you can cram into a Roth, the better off you will be in the end.
Tags: 59 Years, Bush Tax Cuts, Clauses, Conversion, Distributions, Fishy, Income Cap, Income Caps, Investments, Ira Income, Ira Roth, Least Five Years, Oddities, Politicians, Quirk, Retirement Account, Roth Ira, Roth Iras, Six Months, Tax Legislation
Posted in ISA Cash | No Comments »
Sunday, June 20th, 2010
Saving money is much easier than earning it from scratch. But it is also much harder than it is to spend money, and as a result, most of us spend what we would rather save. In order to begin saving money, we need to have a plan, and the more automatic the plan works, the better. When we are confronted with the choice between spending money and saving it, we run the risk that we will give in to the temptation to choose instant gratification. So taking the choice out of the equation is one of the first steps to a steady savings program.
Here are five tips for budgeting and saving money, the automatic way:
1)Set up an automatic withdrawal program with your bank, so that every time you make a deposit, a percentage of the money you deposit is automatically transferred to a savings account that is harder for you to access. One way to do this is to have your bank use an automatic deposit system to put a set amount of money for example, $100 into your savings account each month.
2)Save your loose change and small bills. Put a piggybank in your kitchen and every time you come home, empty the change from your pockets and put it in the piggybank. Toss in a few one-dollar donations from time to time. Although it sounds juvenile, you will be surprised how much you can save with this old fashioned method. And it is so much fun to break the bank when it wont hold another cent.
3)Write down everything and that means no exceptions you buy. Keep a log of every single purchase you make. Write down what you bought and how much it cost. If you left a tip, write that down too. Be diligent about keeping your log book, and if you do it well, you can just do it for a month and gather enough information to help you save even without the log book. Most people find hidden expenses, like $10 per day for coffee or $50 per month for a gym membership that is never used, and then they can easily adjust their budget to save money immediately.
4)Spend less at holidays. And entertain at home. Instead of giving expensive gifts at Christmas, give handcrafted items, poems, or pledges to do errands or barter with friends. One fellow we know agreed to shovel his friends sidewalks during one snow season. His friends got a great gift, and he saved some cash to spend once the snow and ice thawed. Instead of going out to eat in restaurants, cook at home or invite friends for a potluck dinner. Rent DVDs instead of going to the movies.
5)Dont shop hungry. Scientific studies show that people who have a strong appetite will not only eat more, but they will consume more of everything else, too. Many of us know that if we go grocery shopping while hungry, we will buy more than we need. So dont do it. Eat first, then shop. But since studies show that it applies to all sorts of shopping, always have a satisfying snack before going to the mall, the clothing boutique, or the sports store. Youll spend less, and save more.
Tags: Access One, Amount Of Money, Automatic Withdrawal, Budget Help, Budget Tips, Coffee, Dollar Donations, First Steps, Gym Membership, Holidays, Instant Gratification, Loose Change, No Exceptions, Piggybank, Pockets, Saving Money, Savings Account, Scratch, Spending Money, Temptation
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Thursday, June 17th, 2010
More and more people now have the opportunity to choose Health Savings Accounts (HSAs) over other, more traditional, health insurance coverage more companies and financial institutions offer this option than ever before. For the healthcare consumer, this is good news. When the community as a whole is given more choice when it comes to healthcare options, everyone benefits. HSAs let you decide how to manage your own medical needs and work out a financial plan that works best for your specific circumstances.
An added advantage of Health Savings Accounts is the prospect of lowering the nations rising healthcare costs, and making the price of medical care more affordable for everyone. But how can revamping the current health insurance system affect healthcare from a financial standpoint? More to the point, how can a different kind of health insurance make it easier for most people to pay for required medical expenses?
In 2003 the Medicare Modernization Act introduced the concept of HSAs to the American public for the first time. A Health Savings Account is meant to encourage people to invest in their own healthcare through personal savings, and reduce health care costs at the same time; a revolutionary idea that has the potential to be the starting point for positive changes in healthcare. Health Savings Accounts have sparked a lot of debate amongst those who believe in the idea and those who are wary of its ability to change the face of healthcare as we know it.
When you get down to the fundamentals, HSAs are truly designed to improve healthcare and make it accessible to the vast majority of people. For the individual, HSAs make it easier to pay for medical expenses when they arise. Coupled with a high-deductible health insurance policy, a Health Savings Account allows you to save pre-tax money and earn interest tax-free. This allows you to have money set aside to cover a whole host of medical bills, including items that arent necessarily covered by traditional insurance plans, such as dental expenses or alternative treatments. Individuals and employers can deposit up to $2700 per person and up to $5450 for a family, and any time you need to withdraw any amount to pay for qualified healthcare costs, you can do so tax-free. In addition, premiums for high-deductible insurance policies can be as little as half the amount of traditional PPO policies.
And because a Health Savings Account is tied to an insurance policy, more expensive treatments are covered, usually 100%, after youve met your deductible. When you turn 65, any savings remaining in the account can be withdrawn tax-free to be used for medical expenses you incur in your senior years. In addition, the savings you accumulate in a HSA work like a retirement fund. The money grows tax-deferred like an IRA, and you can withdraw the money after age 65 to pay for non-medical expenses without penalty, although you will be required to pay taxes. It is important to note, however, that amounts withdrawn prior to age 65 are subject to penalties and taxes.
Giving the individual more consumer power when making healthcare decisions not only helps you and your family save money, but also creates an environment in which healthcare costs in general become more reasonably priced. Essentially, the price of healthcare is so high because free market forces have little sway in the realm of healthcare products and services. Insurance coverage causes a disconnection between the consumer and the item purchased. When you visit the doctor or purchase a prescription from the pharmacist, you dont know the real price tag. All you see is your insurance payment and the price you pay at the cash register, after your insurance company pays the balance.
This lack of price transparency has led to less competition within the marketplace. People have traditionally chosen their doctors, health products, and other medical items based on location, convenience, or other factors not related to price. When people have the choice to compare different health care providers based on quality of service and price, soon overpriced healthcare will become a thing of the past. People will shop around and force providers to price healthcare more competitively.
As more and more people turn to Health Savings Accounts, medical providers will feel the pressure to post their prices and compete for the consumer’s business. Armed with the knowledge of what healthcare actually costs, individuals and families will be less willing to overuse the system, which also drives up prices. (When healthcare appears to cost little or nothing, most people are prone to make use of services even though it may be unnecessary).
At the same time, HSAs naturally promote the use of preventive care. When people understand the true costs associated with healthcare, they will be willing to pay a little more up front to keep their engine running smoothly rather than pay a lot more at a later date to fix a problem they could have avoided.
Health Savings Accounts have also put affordable healthcare within reach for more people, who were previously paying medical expenses out-of-pocket due to inadequate or non-existent insurance coverage. The low premiums of a high-deductible HSA plan together with the option of putting your money in a savings account that earns interest has already encouraged large numbers of people who previously went without coverage to purchase a health insurance plan.
Only time will tell whether or not Health Savings Accounts can drive down skyrocketing healthcare costs, but the system created by such accounts, which affords the individual more freedom to control his or her own financial and medical destiny, bodes well for the future of healthcare in America.
Tags: Current Health, Deductible Health Insurance, Financial Institutions, Financial Standpoint, Health Care Costs, Health Insurance Coverage, Health Insurance Policy, Health Insurance System, Health Savings Account, Health Savings Accounts, Healthcare Consumer, Healthcare Costs, Healthcare Options, High Deductible Health, High Deductible Health Insurance, Interest Tax, Medicare Modernization Act, Personal Savings, Revolutionary Idea, Traditional Health Insurance
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Sunday, June 13th, 2010
Business JetBlue from American Express – Ideal For JetBlue Flyers
Business JetBlue Credit card is the outcome of the joint efforts of American Express and JetBlue airlines. If you are one of those who frequently avail the services of the JetBlue Airways, then you have an ideal credit card in Business JetBlue from American Express.
You can extract the maximum benefits out of Business JetBlue Card from American Express only if you have enough credit to make monthly payments on time. So, those of you who can afford to pay in full each month after the introductory rate expires (to evade finance charges), can well benefit from the remarkable reward program of Business JetBlue Credit Card from American Express.
Highlights Of The Reward Program
To get detailed information about the reward program of Business JetBlue from American Express go through the following:
The rewards program awards you a dollar for each dollar you spend on the card. You will receive additional 2 points (award dollars) for each dollar you spend on JetBlue flights, car rentals, wireless phone charges, gas, office supplies and equipment. Also, earn double award dollars for what you spend at movie theaters, concerts, golf courses, restaurants and other places of entertainment.
A 5% discount will be given to you on any JetBlue flight in addition to other rewards program points and savings.
Your first purchase will reap 5000 bonus award points. (Your statement credit should be at least $50).
Here it would be necessary to highlight that 200 award-dollars amount to one TrueBlue point and 100 TrueBlue points earn you a one round-trip flight in JetBlue.
Other Features
Take a look at some of the other features of Business JetBlue from American Express, which might concern you:
The Business JetBlue card has annual fee of $40, a quite reasonable fee as compared to other airline reward cards.
Though the average interest rates are high, you will be able to save money on free reward flights if you are able to pay your monthly balance in full.
Your rewards will not expire as long as you earn points or there is some redemption activity in your account within a 1-year period. The TrueBlue awards expire after 1 year of issuance.
Through the OPEN Savings program, you can also avail automatic discounts at leading merchants.
Special Benefits From The Card
Business JetBlue from American Express allows a lot of additional benefits you would love to have such as special Internet account related services, entrance to the OPEN Savings Network, Automatic bill payment and account alerts, extended warranty for purchases, Auto rental insurance, Purchase protection, insurance for Travel accident, Emergency card replacement, various travel and emergency assistance services.
Tags: American Airlines, American Express, American Flyers, Car Rentals, Express Airlines, Finance Charges, Golf Courses, Introductory Rate, Jetblue Airlines, Jetblue Airways, Maximum Benefits, Movie Theaters, Office Supplies, Phone Charges, Places Of Entertainment, Program Awards, Reward Cards, Reward Program, Rewards Program, Trueblue
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