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5 Ways to Save Money on Your Summer Vacation

Written by adminMay 7, 2019

As we roar through May, the summer months are only a few weeks away! Soon, the kids will be off for their summer vacation. Maybe you’ve already planned your vacation and have everything saved up. That’s great! There are still ways you can save some extra money, especially if you’re a procrastinator.

If you have a lot of debt or are trying to save money, enjoying a cheap summer vacation isn’t a bad idea. You don’t have to waste a lot of money on frivolous stuff. For the most part, getting away from the office and spending time with your loved ones doesn’t have to be expensive. It’s the quality time that matters, not the amount of money you spent.

At the end of the day, saving money will better protect your family. That’s why we’ve written this blog. Here are 5 ways to save money on your summer vacation:

1) Do Your Best to Plan Ahead

Airlines like to sell seats the same way stores sell merchandise. Money savers know this trick well. You don’t buy swimsuits in the spring or during the summer months. You buy them off-season when they’re the cheapest. Stores are eager to get rid of extra merchandise, especially as the new season comes in. It’s like buying your Christmas decorations on December 27^th when they’re half off.

Airlines do the same. There are slow times of the year when not as many people are flying. There are peak times during the holidays and summer months. People are reserving flights, booking hotels, and renting cars if they’re not doing the drive themselves. So, the best thing to do in order to save money is plan ahead!

Right during the slow season, you can get some amazing deals. If you want until things start heating up again, you will be paying through the nose.

2) Avoid Popular Destinations

Just like airlines have off-seasons, so do popular destinations. Booking certain weeks of the year will be a difficult task if you want to save money. When everyone is trying to get down to Florida, tickets and rooms will be much more expensive than during the off-season. Same for anywhere else really.

3) Use Your Rewards

If you’re looking to save more money, don’t forget about any reward packages you might be subscribed to. Your customer loyalty points and credit card rewards might be helpful enough to bring down the cost for your summer vacation. If you don’t have a rewards credit card, then perhaps you should get one to save you money down the road.

4) Eat Basic Meals

Eating while on vacation can get expensive. Of course, you’re on vacation and don’t want to cook, either. But rather than chowing down on expensive seafood just because you’re in a tropical paradise, cooking yourself meals will save a ton of money in the long run. A lot of hotels have in-room kitchens. Many others have free breakfast.

Another trick for saving money is order your food to go! Don’t have it delivered and don’t dine-in. By going to pick up your food, you avoid tipping drivers or waitresses and that’s extra money that definitely adds up during a week-long vacation. Grab your meal and take it back to the hotel or just eat in the car!

5) Don’t Go on Summer Vacation Alone

When you were younger, you might’ve had roommates. Or, maybe you have roommates right now! Either way, you know it’s cheaper for a bunch of people to rent a place together. The same can apply to your vacation! Why not join with a relative or friends and rent a house together? By doing that you skip the overpriced and overcrowded hotels and can stay in a comfortable home with loved ones.

Your summer vacation doesn’t have to be expensive. Remember, it’s about the memories! Find cheaper places to spend quality time with loved ones. They’ll cherish the memories and forget everything else. Enjoy your summer without spending the rest of the year kicking yourself as you work to pay off the debt.

Written by adminMay 7, 2019

Student Loan Consolidation

Feeling crushed by overwhelming debt? We got you covered.

You’re struggling to pay off your massive student loan debt, with no light at the end of the tunnel? Sound familiar? Here are 7 strategies you can take advantage of to help pay off your student loan debt.

Call Now 844-332-2079

Make More Than The Minimum Payment

It goes without saying that when you make more than the minimum payment each month that you can pay off your debt faster. Do confirm that the extra money is applied to your principal balance than to next month’s payment.

You can also free up your budget by ending subscriptions or getting a cheaper cellphone plan. It’s all in the planning, so look for ways to better budget your finances.

Enroll in an Income Driven Repayment Plan

There are many income driven repayment (IDR) plans available to student loan borrowers who are overwhelmed and unable to make standard monthly payments. Most require borrowers to pay a fixed monthly amount for up to 10 years. This might not be the fastest way to pay off your loans, as you end up having a longer loan term in exchange for lower monthly payments.

Consider Public Service Loan Forgiveness

If you have federal student loans, you may be eligible to apply for the Public Service Loan Forgiveness Program. By working for an eligible employer, and making 120 on-time payments the program forgives the remainder of your student loans.

Refinance Your Student Loans

If you own private student loans, it pays to take note of private student loan interest rates. You can always switch from federal to private student loans if you can get a more affordable interest rate.

Refinancing your loans to get a lower interest rate will slow the growth of your balance. You will be able to contribute more of your monthly payments towards your principal instead of interest, letting you pay off your loan faster.

Make Lump Sum Payments When Possible

After receiving your tax refund, most people go on a spending spree. Instead of splurging it, it will be more practical to put that towards your student loans and save yourself some interest.

For example, on a $10,000 loan with a 5% interest rate. If you made a lump sum payment of $500, you would shave off $313 in interests and pay off that loan 8 months earlier.

Capitalize on Interest Rate Deductions

In certain cases when you sign up for automatic payments, servicers do offer borrowers to lower their interest rate by 0.25%. This can help borrowers twofold, as they pay less in interest over the loan period and never miss a payment. On top of this borrowers can still pay lump sum payments to pay off their loans faster.

Start Today

Take note borrowers, you don’t have to utilize every strategy that we’ve listed, but you can use whichever best suits your needs. And if you ever need help with budgeting or planning your monthly payments, give the Financial Helpers a call. We’re always ready to help.

Call Now 844-332-2079

Written by adminMay 4, 2019

Mortgage

You’re excited. You’re at the closing table and have your fingers on the buy or sale, but something happens out of the blue. Suddenly, what was a problem-free situation went sour and you’re left trying to put together the pieces. Real estate is an evolving beast and can often pose new challenges each day, no matter how secure things seem at the time.

Here is a list of a few issues you can run into during your real estate experience:

1) Seller changes their mind

It’s more common that buyers change their mind, but sellers can get cold as well. Buyers can go through the entire process of inspections, appraisal, and on its way to closing only to suddenly get the call the day before that the seller is no longer interested in selling.

This can bring in numerous potential challenges for the seller, as a good real estate agent would then tell them the legal action they could be facing if the buyer wants the house bad enough. That’s why it’s important to have pro/con list when working out whether or not to sell. Agents should know how to tell if a seller is motivated or not and can help connect buyers with the right sellers to prevent this from happening.

2) Buyer remorse

In real estate, bidding wars can happen. It’s only human nature to want to win the war, but realize a few days later that they bid significantly higher than the listing price, and even their budget! This can lead to buyer remorse and a terminated contract.

This is true for first-time owners as well, who often find themselves swallowed up by new and enormous responsibilities. Buyers have a million questions and concerns running through their mind, so it’s important to put together a list of needs and wants to review so the buyer can get their mind back on track.

3) Unknown Structure Issues

Buyers can often be scared of unknown problems with the house. The best way to avoid any issues cropping up is to have a pre-inspection before listing your home, giving you a chance to fix those concerns ahead of time.

Cara Ameer, broker associate and Realtor at Coldwell Banker Vanguard Realty based in Ponte Vedra Beach, Florida, had this to say: “If you’re starting to get into something where it’s more than 2% to 3% of the purchase price, you should think about it. If you’re dealing with structural things, consider how much you want to do.” Anything that’s not fixed can affect your resale value.

4) Sellers Take Permanent Fixtures

A lot of times, sellers will take with them a permanent part of the home, like a refrigerator, chandelier, or other fixture. This often leaves the buyer frustrated as they expected such features to be included, as they were listed. It’s best to double-check which items are personal property and which are part of the home.

5) Choosing a Bad Lender

Not all lenders are created the same. Some are on the ball and make sure all the paperwork is in order and ensuring no problems with the loan. Other lenders aren’t so organized. In one example, a lender dropped the ball by putting a buyer’s file on a back burner, but actually ended up forgetting about it completely! Realtor’s will often have a list of lenders they recommend, so consider those first.

6) Buyer Has No Credit

Yes, lenders can pre-approve loans based on income alone, but what happens later when they come to find they have no credit? It will often be rejected. In most cases, to own a home, some kind of credit on file is needed. If someone doesn’t have a car loan, student loans, etc, then getting a home loan probably won’t happen.

Buying or selling a home can be a quick and easy process, but often times, something comes up. Don’t let these issues happen to you. Plan out all contingencies. Get inspections well before putting anything on the market. If you’re as prepared as possible, the process should go smoothly.

Having an attorney who knows the real estate laws and regulations will only help you in the long run regardless of any issues that might pop up. It can prevent you from being scammed and can take part in ensuring the entire process is safe and legal.

Written by adminMay 4, 2019

Life Style , Saving

Here at Financial Helpers, we talk a lot about finding ways to scrimp and save money. This is especially true if you have a lot of debt. Your focus should be paying that debt off and putting as much money into savings as possible. What a lot of people do instead is spend as much of is as possible. They spend it on things they don’t necessarily have to spend money on.

One way to save a few bucks each month is to get a membership at your local library. This is no joke! Libraries in the modern age are about more than just books. If you’re a big reader, going to a library itself is a major help to your budget instead of dropping $20+ on a new book you’ll probably only read once anyway.

Let’s take a look at the 6 ways your local library can help you save money.

1) You Can Borrow Movies

This is a major expense for a lot of Americans. We love our movies. We enjoy our downtime at the end of a long day. If you’re in a struggling pattern, shelling out bucks to rent a movie can add up. Usually these days, people hit the Redbox, order Pay-Per-View, or are subscribed to Netflix. This can easily add up each month.

Instead, why don’t you give your local library a shot? Yes, libraries lend out movies…for free! Most of the time they have and up-to-date variety of new releases as well as classics. The selections will vary, but it’s worth a shot to see if they have something you might want to see. This option can save you hundreds of dollars throughout the year.

2) They Do Lend Out Music

These days, not too many people still use CDs. For the most part, anything entertainment has hit the digital age quite a few years ago. But if you’re in a bind, libraries do have CDs you can borrow. They’re great for taking on long trips or listening to your favorite albums. They’ll get you through a tough time financially.

3) Internet Service is Provided

Yes, we get it! Internet is expensive these days! As more people decide to cut the cable cord to save money, you can do the same with internet! Mobile is becoming increasingly popular, so you’ll be able to stay connected with family and friends. Of course, you’d probably rather pay for your own Wifi, but this is an option if you need to save a few bucks. You’ll even have access to printers if you need to print, scan, or fax materials.

4) They Have Workshops and Classes

Libraries have all sorts of different activities to entice more people to enter their doors. The local library has a reputation of being old, stuffy places with just books. But in most cases, that’s not true anymore. You can find a lot of neighborhood activities for kids and adults alike.

For example, the library can have book readings for kids, workshops, yoga classes, guest speakers, courses on computer skills, resume building, and so much more. The New York Public Library alone has over 93,000 programs each year.

5) Read the Latest Books for Free

Reading is fun for a lot of people. We enjoy being transported into the author’s mind and taken on a ride. Digital books have changed the game quite a bit. There’s still something special about that book smell and feeling of accomplishment every time we open the cover. Digital books can never replace the nostalgia.

While you may enjoy collecting books you’ve read, most of the time, people only read them once before moving on to the next one. Sure, there are the few exceptions, but what’s the point of spending a lot of money on a new book just to read once? Instead, rent the book at your public library. It’s free and will save you a lot of money throughout the year.

6) Get Help with Research and Other Stuff

As #4 listed, the library is a great place to go for workshops and help. Among the other types of events they hold includes tax preparation, resume building, and even healthcare enrollment. If you have a need, they provide options. Librarians are great at helping people find the information they need.

The library is no longer a place to drive by on your way home from work. A lot of these places have been renovated and updated for the modern economy. Give it a look and use it to your advantage.

Photo Credit: Panda Gossips

Written by adminMay 3, 2019

Credit & Debt , Credit & Debt Settlement

It seems so easy for someone who wants to go to college to take out student loans. All they have to do is sign the dotted line and the money they want is right there. But if you ask anyone currently paying off their student loan debt, you’d hear a lot of stories of struggle. 44 million Americans currently owe $1.53 trillion towards their loans.

Student loan debt is forcing young Americans to put off major life goals. They simply can’t afford to do them with this weight on their shoulders. Many can’t even afford the minimum monthly payments. And again, when you see how much tuition is, it’s easy to resort to loans. The solution is to save loans as the last possible resort or it can hamper your life later.

In many cases, parents have tried to save for their kid’s education. Yet, even they weren’t prepared for the major cost, especially if they have multiple teens in their home ready for that next stage of life. Fidelity conducted a survey that found parents were overwhelming underprepared for their child’s college education costs. That leads them to resort to student loans.

Before you take out a mortgage just to pay for your education, you should look at these other options. By doing them all, it’s possible to pay for school on your own. Even if you still have to take out some student loans, at least the burden will be lessened.

1) Scholarships Are Available

Listen, there are scholarships for everyone out there. Regardless of your child’s major, interests, skin color, race, culture, there’s someone out there who has put up a scholarship. The problem is, it takes a lot of diligence to go out of your way to research all the different types. Then you have to sit down and apply for each one you’re eligible for.

Don’t just apply for the big scholarships either. Every little bit will help bring down your student debt balance by the time you’re finished with your degree. Sallie Mae reports that scholarships can cover as much as 28% of tuition on average. That’s a major chunk taken out of your student loans if you can take the time to apply.

2) You Don’t Need to Go to an Expensive School

At the end of the day, a degree is a degree. You may thing there’s some prestigious mentality to going to a big four-year school, but really, there’s not. There’s no shame in getting your Associate’s degree at a community college, which would save you a ton of money in the long run. In a lot of cases, lower-income people can escape community college debt free.

Many states like Kentucky, Ohio, Tennessee, West Virginia, and Virginia have free tuition to smaller colleges for students. More states are starting to institute programs like this to give young adults a good head start. By going to a smaller school and then getting their Bachelor’s at the school of their choice, will pay only a fraction of the student loans. Saving money is about making better decisions.

3) There’s Federal Aid Available

Last year, high school graduates left behind $2.3 billion in unclaimed federal financial aid. They chose instead to take out student loans. Many students qualify for financial aid through the government. It combines grants, loan offers, and scholarships in a program called FAFSA. It’s free to fill out an application.

Many students don’t run towards the FAFSA because they feel it’s time consuming to fill out. The problem is, by doing it, they can save $3,583 per year. That can go a long way towards paying for books, putting a dent in tuition, and other housing costs. Again, every little bit helps to bring down your total debt.

4) Get a Job

Yes, we get it. The last thing you want to do when studying for classes is to have to worry about a job. But many people have to do it in order to survive. It will be hard work, but you’d be thankful in the end if you do. Between scholarships, aid, any savings you had before, getting a job can take care of the rest. It certainly beats paying student loans for the next 10-20 years.

There are plenty of side-hustles and jobs you can do in your spare time. Driving for Uber is one. Do whatever you can to pay off as much of your room, board, and tuition while you’re in school. You will thank yourself later on! You can even do a work-study program through the university or college. They are needed jobs that need to get done around the campus.

5) Have Your Job Pay for College

Another great thing about working while in college are the various job programs out there. Companies like Starbucks, Walmart, Publix, and Wells Fargo all help workers pay for their tuition. If you work 20 hours a week at Starbucks, then you qualify for their Starbucks College Achievement Plan.

You have to work at Publix for about six months before their plan kicks in. If you average around 10 hours a week at least, they can help pay up to $12,800 of your tuition. Wells Fargo will straight-up reimburse tuition for their workers up to $5,000 each year. Their children can even apply for certain scholarships worth up to $3,000.

Many other companies offer some tuition assistance and will help pay off your student loans. Even after you graduate, many large companies offer a program that works like your 401(k) that will pay off student debt. It’s worth the check to see if your work offers any kind of assistance.

At the end of the day, any little bit you can knock off your tuition will be worth it in the end. No one will care where you got your degree from. There’s no shame in spending less and going to a community college. Taking the time to apply for aid and assistance is worth it considering the thousands in extra interest you’d have to pay on that later. And working a job won’t be too difficult. Many thousands of college students make it work.

If you still end up needing more money, at least taking out student loans won’t be too much of a burden and your total is reduced by thousands of dollars.

Written by adminMay 2, 2019

Student Loan Consolidation

Here’s what you need to know and what you can do.

The latest statistics released by the Department of Education show that in 2018, 99% of borrowers who applied for public service student loan forgiveness were rejected.

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Here are the highlights of that report:

53,749 student loan borrowers submitted 65,500 applications for public service loan forgiveness.
Approximately 58,000 of those applications were processed, with the remainder in a pending state.
Of the 58k, more than 73% of applications were denied due to borrowers not meeting the program requirements. Reasons for denial included ineligible student loans, not making 120 qualifying payments or not having qualifying employment.
Another 26% of applicants were denied due to missing or incomplete employment certification forms.

How many borrowers were approved for forgiveness?

According to the same report, only a paltry 610 applications were approved and 338 borrowers receiving $21.1 million in public service loan forgiveness. In the history of the program, approximately 640 borrowers have received forgiveness out of a cumulative 132,000 processed applications. That is less than 0.5%.

That is a shockingly low number, but getting public service loan forgiveness is not so simple. The Public Service Loan Forgiveness Program forgives federal student loans for borrowers who meet the following prerequisites:

Employed in an eligible federal, state or local public service job
Be employed full time, more than 30 hours per week
Make 120 eligible payments on time

A majority of the of applications were rejected because of incomplete information given, or not meeting the program prerequisites. Here are a few things for you to know when applying for Public Service Loan Forgiveness.

Filling out the Employment Certification Form

Applicants have to fill out the Employment Certification Form, which has to be submitted to the Department of Education when they begin working in an eligible public service job. They should also re-submit the form annually to stay on track in the program, and also when they switch jobs.

Enroll in an IDR Plan

Only federal student loans are considered for public service loan forgiveness. Applicants are required to apply into an income-driven repayment (IDR) plan, and make a majority of their 120 required payments while enrolled.

Federal Loan Consolidation

If you have Perkins loans, or Federal Family Education loans (FFEL), it would be beneficial to consolidate all these loans into a Direct Consolidation Loan, as that is the only way for those loans to be eligible for public service loan forgiveness.

Student Loan Refinance

If you have private student loans, you should consider refinancing them to lower your interest rate. Here’s a payment calculator to see how much you can save by refinancing your private student loans.

Take Control Today

The situation might seem bleak now, but now you know the program requirements and the common shortfalls that plague applicants. Make an action plan today to get yourself debt-free. And if you need help, the Financial Helpers are just a call away

Call Now 844-332-2079

Written by adminMay 2, 2019

Credit & Debt , Credit & Debt Settlement

Your credit score is incredibly important. Having a good score can help you in a lot of ways. It can even save you during an emergency. If you needed to take out a loan, for any reason, having good credit is helpful. It can save you thousands of dollars when making large purchases with credit and on interest.

Sadly, a lot of people take their credit for granted. They don’t protect it. It’s there as a plaything. If you want to buy something you can’t afford, they’ll just pull out the plastic. They’ll keep doing that until suddenly they can’t even afford minimum monthly payments. That’s when the real trouble begins.

From a young age people should be taking care of their credit. And if it’s in bad shape right now, be more active! You can repair your credit. It will take some time, but don’t just sit on your hands and let it deteriorate. By putting the ball in your court, you can actually save yourself grief in the future. Here are 6 reasons why you should actively repair your credit.

1) Your Credit Report Might Have an Error

Here’s a statistic that might hit close to home: 1-in-4 reports have an error. That’s no joke! The Federal Trade Commission did a study and found that 1-in-4 credit reports have an error on them. That can directly harm your credit score! One-in-twenty reports had a major enough of an error that it dragged their score down 20 or more points.

You also have a 1-in-4 chance of being defrauded by a credit card scammer. These are real numbers. If you’re not careful, it can certainly happen to you. Millions of Americans each year become victims to credit card fraud. By keeping up with your credit and repairing when necessary, you can catch these problems early.

2) You Can Refinance Your Loans

There may be a time when your debt overwhelms you. Rather than just sitting back and letting it pile up with more interest, act! If you have a good credit score, you can combine all your debts into one, smaller monthly payment. Having a better score means better rates and less interest paid overall.

Your credit score will determine the rates when money is lent. As the economy dips or improves, this can change over time. The Feds change the overall interest rate. But if you have a great score, the lower your rate will be overall. Having lower payments can surely improve the quality of your life and make your debt more manageable.

3) It’s Easier to Get Approved for Financing

If you have a major need for financing, it can be a stressful process. Mostly you don’t know if you’d get approved. If you don’t have a strong credit score or a good record of spending, this will cost you. To wait around to find out if you got approved, only to be denied, is even more frustrating.

That’s where having a good credit score makes life easier. There’s much less of a chance of being denied. There are to major factors in getting financing approved. The first is your credit score. The second is the amount if income-to-debt you have. By repairing and maintaining your credit, it’ll be much easier to get approved.

4) You’ll Be Mortgage-Ready

One constant in life is that things are always changing. You might find yourself in a good spot right now, but what if you or your partner become pregnant? What circumstances would you need to upgrade your living situation and do it quickly? Renting isn’t always a good option these days. The price of rent continues to shoot for the moon.

Even if you’re not expanding your family, but just think it’s time to buy a home, you need to be ready. Your credit score is going to be a huge factor in determining whether you get approved. It can even save you down the line with a lower interest rate on that mortgage. Even a half percentage point can mean thousands of extra dollars if you’re not careful.

5) You Can Buy Things as Advertised

Don’t you hate car commercials that go on and on about discounts and low monthly payments? Well, you’ll be frustrated if you go into a dealer and ask for those prices. Those prices aren’t for you, my friend. They’re for the person who has spotless, perfect credit. They’ll advertise all the incentives in the world to get you in the door, only to shut you down.

No interest for several years, the no-money-down deal, yep, hands off! That doesn’t mean you’ll be completely denied an auto loan, but your credit makes an impact. If you spent time repairing your credit before buying a vehicle, those incentives can save you A LOT. We’re talking thousands of dollars over the life of your loan.

6) Discounted Car Insurance

A good credit score isn’t just good for lower auto loan rates. It can also save you with insurance, too. Most companies choose the rates based on your score. What your credit score has to do with driving, no one knows. It’s just an excuse for them to jack up your rates if you don’t have your affairs in order.

Overall, taking the time to repair your credit score is completely worth it. There are many discounts and incentives you will receive. Life will be much easier when you can get better rates, lower payments, and quick approvals. On the flip side, bad scores can really hurt you massively. Repair your credit while you can.

Written by adminMay 2, 2019

Student Loan Consolidation

Dee-1 is a rap artist that decided back in 2016 that the problem with student loans is rising and did a hilarious music video about it. Listen and see for yourself!

Funny thing is the student loan debt since 2016 was 1.2 trillion, now in 2019 it’s over 1.5 trillion now! If you ever need help with your student loans be sure to call for student loan forgiveness at 844-332-2079.

Call Now 844-332-2079

All credit to Dee-1.

Written by adminMay 1, 2019

Credit & Debt , Student Loan Consolidation

How to Start the Conversation About Debt

Thinking about tying the knot but your fiance has significant student loans? It’s probably in your best interest to learn as much as you can about your partner’s situation before saying “I do.”

It may seem like a huge obstacle at first, but discussing debt with your prospective life partner is imperative to laying the foundation for a solid future.

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What If My Future Spouse has Student Loans?

It’s important to know what you may or may not be responsible for when it comes to marital finances. But let’s focus on what you have to watch out for when it comes to student loan debt.

Am I Liable for Pre-Marriage Debt?

In most cases you will never be liable for your spouse’s student loan debt incurred before marriage. Exceptions to the rule include cosigning on your spouse’s student loans or applying for loan refinance after marriage.

Depending on how you choose to set up your marital finances, you can still choose to take on some responsibility for your spouse’s debt repayment.

Income-Driven Plan Payments Can Change

For single people applying for an income-driven repayment (IDR) plan, there is just their income to factor into payment calculation. However, marriage can complicate this simple process.

For one, the total household income will increase. Since IDRs look at taxes to determine monthly payment amounts, a higher household income would result in a higher loan payment.

You might think filing taxes separately would help you avoid this, it would. But you would miss out on the benefits of filing joint taxes, which include the student loan interest tax deduction among other tax breaks and credits. It would be a joint decision on whether to have a lower monthly payment or to deal with the higher payment and keep the benefits.

Loan Refinance

If your spouse is paying too much in interest, you can consider consolidating all of your spouse’s loans to get a better interest rate. You can also become a cosigner on the loan if you have a better credit score to bring the interest rate even lower.

Do take note that cosigning also comes with the responsibility to pay if your spouse fails to make payments on the loan.

Impact On Your Financial Future

It would be wise to set goals for your financial future, as having significant debt such as student loans can become a setback. You may have milestones to reach, such as buying real estate or starting a family. It can get difficult making student loan payments in addition to these large expenses.

The both of you would have to be realistic in setting financial boundaries for yourselves. It will go a long way in avoiding future stress in your relationship.

How It Can Affect Your Credit Score

At marriage, your credit scores will still be kept separate. As long as your spouse makes consistent payments on their student loans, their credit score might actually improve.

The both of you would have to stay on top of it, if you want to be approved for future loans.

Having This Conversation Is Essential

Whether you or your spouse has the student loan debt, it is important to talk about it before marriage. It is not the easiest of topics to talk about, but it is better to be transparent about any type of debt.

Rather than leave it till tax season, have this conversation early on and decide whether to tackle the debt together or separately. Have a solid plan going forward, your marriage will thank you for it. And as always, the Financial Helpers are only a phone call away if you need assistance.

Call Now 844-332-2079

Written by adminMay 1, 2019

Life Style

Hybrid vehicles are known for their ability to bridge the gap between conventional combustion engines and the newer electric technology. The technology for electric cars has been around for many years, even longer than the combustion engine, but due to the cost and lack of range and upgrades, the conventional vehicle has always won out in sales.

Now, due to environmental concerns, more people are looking for cleaner ways to get around. While going straight electric isn’t always convenient, the hybrid vehicle is the next best thing, using two powertrains. You have your typical electric motor that powers the vehicle until the juice runs out and it switches to the gasoline engine to get you the rest of the way.

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But as hybrid vehicles are becoming more popular, there are still a lot of things people don’t realize are different between a hybrid and a conventional or electric car. This guide will help share with you important factors you need to consider before going hybrid!

1) Hefty Price.

Gasoline engine vehicles are much cheaper, as much as 20% cheaper, than hybrids. That’s because the electric engine has always been more expensive. It’s this price that has kept the electric car from gaining ultimate popularity back in the 1800s and early 1900s.

If you want a luxury hybrid vehicle, it will most likely run about a hundred thousand dollars. The good news is, the government wants to encourage people to drive hybrid/electric and offers some tax incentives to convince you to buy one.

2) Added Performance.

Typically, if you wanted to own a vehicle with a lot of torque, you’re paying through the nose for a ridiculously expensive muscle car. Because people want speed, there’s been a myth going around that electric and hybrid models are pathetic and weak.

If you’ve been putting off buying a hybrid because you’ve bought into the lie, then you’ll be happy to know electric vehicles are incredibly fast and have amazing torque. It’s not odd to hit from zero-to-sixty in less than 4 or 5 seconds. It’s just an added benefit for going hybrid!

3) Hybrids Are Great for City Driving.

While electric/hybrid engines are great for bursts of speed, the technology just isn’t there yet for too many long distances. They are best used for city driving at low speed. A lot of these models have what are called ‘regenerative braking’ systems, which means they convert the energy used to stop into electricity, and it uses that energy to recharge the electric batteries.

This means that stop-and-go city and ‘around town’ driving will help your batteries last longer, where a long jaunt down the interstate will drain it. Switching to gasoline might be your best bet on the open road.

4) Less space than you’re used to.

One of the great things about electric cars is they have more space than a conventional vehicle. Once you remove the gas motor, you have all kinds of extra space, which translates well for a more comfortable ride.

On the other hand, the hybrid not only keeps the combustion engine, they also must find more room for the battery pack. You’ll find this space more limited in SUVs and sedans, losing the extra roomy trunk space you’re used to having.

5) Return on investment.

While we already discussed that hybrid vehicles are more expensive than conventional ones, there will be a point where you end up saving more money in the long run. For straight-electric drivers, they save as much as $1,000 per year just on the cost of gasoline alone. Then apply the cost of regular oil changes and maintenance.

How much you’ll save depends on how much driving you do and gas you consume, but there will be money saved. A lot of hybrid and electric drivers enjoy calculating the point at which they are paid back the cost of the vehicle in savings, which sometimes can be as little as eight years.

6) Hybrids are very simplistic.

Most of the hybrids you’ll see on the road are automatics. There are no gears. There is no revving of an engine. The process of accelerating is very simple and seamless.

We mentioned above about added performance, but when on electric mode, you will drive very quietly and it might be difficult for anyone to hear you coming. Care must always be taken when accelerating so rapidly and quietly. If you’ve ever enjoyed an electric toy car, they don’t need extra effort to get moving. It’s very simple and straightforward.

7) The batteries are stable.

There’s another myth going around about hybrid and electric vehicles that you will have to regularly replace the batteries. This rumor was probably started to convince those who are considering a hybrid to not take the chance because of added costs to replace the batteries. It simply isn’t true.

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The reality is, the batteries last quite a while. That doesn’t mean you’ll never have to replace one. At least the price has gone down to replace them anyway. When it comes to that, it won’t cost an arm and a leg. It’s still cheaper, though, than the regular maintenance a combustion engine goes through.

8) Hybrids Don’t Do Well in the Cold.

If you’ve driven any kind of car, then you know that batteries don’t hold up too well in extreme cold. This is why if you live in the north and have frequently harsh winters, a hybrid is better for you than an electric. Not only do you have the benefits of a 4-wheel drive vehicle, but you can use the gas or diesel powered car or truck to use when it gets especially snowy out.

You need more power and less torque. Be sure to keep this in mind depending on where you live. Where hybrids and electric vehicles are the most popular is California where winters aren’t so harsh (unless you’re up in the mountains).

Hybrid vehicles are truly the best of both worlds. With these 8 tips, you’ll hopefully have an easier time deciding if this type of vehicle is right for you.

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1) Hefty Price.

2) Added Performance.

3) Hybrids Are Great for City Driving.

4) Less space than you’re used to.

5) Return on investment.

6) Hybrids are very simplistic.

7) The batteries are stable.

8) Hybrids Don’t Do Well in the Cold.

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