4 Financial Steps Everyone Should Take

People often think that financial situations are impacted by how much you earn per year. While this is true to an extent, it’s important to understand that there are certain parallels that remain the same regardless of how much you earn. Here are some key steps you should take regardless of your primary income. 

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Insurance Arrangements 

First, you should consider exploring insurance arrangements. It’s difficult to view insurance as a necessity, particularly when it’s only useful on rainy days. However, if it does start to pour down, then you’ll be glad you bought that umbrella. There are various types of insurance that could be relevant to you.For instance, if you have dependents or children, then you need to think about life insurance. There are special types including insurance for dangerous occupations if you work in a heavy industrial sector. However, if you research the market, you’ll always find insurance coverage that will support you in the long term. 

Buying Property 

Another point to consider is the type of investments that are going to benefit you. One investment option not to miss would be property. It’s worth jumping on the property ladder as early as possible so that you don’t need to deal with the issue of dead money. If you rent, you are paying a fortune out and gaining no real benefits in the long term. In contrast, if you buy, then you can slowly but steadily build up the equity you hold in the property. You can use this equity for any costs that you want or need in the future. 

Second Incomes 

Next, you should think about second incomes. Experts agree that everyone should have at least two incomes to ensure that they are able to cover additional expenses throughout the year. A secondary income can also make it easier to save for retirement and help to cover rising bills. There are lots of different options for second incomes worth exploring. For instance, you might want to earn money blogging. If you set up your blog the right way, this can quickly become an automated process. 


Another point to consider would be accounting. It might seem as though an accounting service is a waste of money. However, if you take our advice and look at side hustles then you’re going to have at least two incomes impacting your finances. You could even have three incomes or you might run a small business. This will make it more difficult to keep track and save in the right areas. An accounting service will help a great deal here and ensure that things do remain under control. In the long term an option like this could even end up saving you a lot of money. It will also help you pay your taxes. 

We hope this helps you understand some of the key steps that you should take to ensure that your finances are on the right track. Remember, these steps are important regardless of your current income or even how much you are expecting to earn over the next few years.

How To Help Your Loved One If They Are A Car Accident

If your loved one is involved in a car accident, it is important to be there for them as they might be struggling with their mental health. Whether or not they have incurred physical injuries, it is common to deal with anxiety or stress after the event of an incident. Therefore, it is useful to know how to help them. On that note, here are the best tips for helping your loved one when they have been involved in a car accident.

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Get legal help

When your loved one has been involved in a car accident, the last thing they might want to do is talk to someone. They might want to deal with the issue alone. However, it is essential to get legal help so that they get the help that they deserve. After them being involved in an accident, there are many different types of lawyers that you might consider. However, it is best to ask for help from a car specialist so that you get them the best help that they need.

The most incredibly talented car accident lawyers will help you and your loved ones after the event, to ensure that you receive the medical help and compensation that you deserve.

Listen to them 

Although your loved one might not want to talk straight away, they will want to talk eventually. No matter if it was their fault or not, it is a lot to process. Therefore, it might take them some time to open up and tell you exactly what happened or how they are feeling. 

When they are ready to talk, make sure to be there for them. If you don’t listen, then they might not have anyone else to turn to. Showing them that you care and want to listen to them will help them open up and find someone to trust. It can help improve their mental health by opening up and sharing their emotions. When they share how they are feeling, make sure to give gentle advice to help support their emotional needs.

Be patient

On the topic of your loved one taking time to open up, it is very important to be patient after they have been involved in an accident. Although they might not realize it, it might have caused them a lot of stress, which could cause them to act or speak negatively towards you. 

Make sure to be kind back to them and let them let off steam so that you don’t upset them further, as it can further deter their mental health.

Keep an eye on them

If your loved one is being quiet (or even seems fine) it is important to keep a close eye on them. Doing so will ensure that they are okay and means that you can give them help when you think they need it. 

They might think that they don’t need help. But as an outsider, you might realize that they do. Hence, you can take action and help them recover in the best possible way.

What Are The Best Ways To Protect Your Business?

The environment is good for business, it’s true, but there’s no avoiding the fact that there are threats. When you’re in such a competitive landscape, it’ll always be that way. Even though everything might seem like it’s going well, you could find that you find yourself in a difficult position that takes you by surprise from time to time. While you can’t always prevent these things from happening, there are things you can do that’ll reduce the likelihood or provide a safety cushion if they do. Below, we take a look at some of the best ways to protect your business. 

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Photo by Philipp Birmes from Pexels

Find Your Weaknesses

People — and thus companies — generally focus the spotlight on their strengths and overlook their weaknesses. It makes sense. But in some cases, your weaknesses could prove to be a real threat to your business. The only way to minimise the threats these could cause to your company is to be aware of them. So take a look, a real strong look, at your business, and it’s flaws. If you don’t know what you’re looking for, then there are outside experts that can help you.

Get Covered

A company could be doing absolutely everything right, and yet still end up in dire straits, if they’re not careful or they’re unlucky. You never know what might happen at your business: there could be a weather-related disaster, or a member of your team could be injured while they’re on the job. If that happens, then you might face a big bill. As such, it’s important that you’re working with an insurance broker to get the insurance that’s right for your business. It’s one of those things that you hope you’ll never need, but which you’ll be supremely grateful that you have if you do.

Be Mindful of Who You’re Hiring

Your employees should, in an ideal world, take your business from strength to strength. But that doesn’t always happen. Sometimes, they’ll have limited positive impact (which is in effect a negative impact, since you’re paying them). At others, they may cause serious harm — for example, if they break the law and steal from you, or cause a public relations disaster. The good news is that this threat can nearly always be nullified by hiring correctly. There’ll usually be pretty big red flags around a potential employee during the interview process. Make sure you pay attention to them!

See What’s Up Ahead

Everything may be going well right now, but the present won’t be around for too long. The future is coming up, and that business landscape may look a little different. The good news is that what’ll happen five years down the line usually isn’t a big surprise: all the signs point to it. It’s just up to you to be aware of what they are. Reading trade magazines and generally keeping up with the goings-on in your industry can provide a pretty clear view of what the future will be like. From there, you can position your company for future success


Understanding PIP: Everything You Need to Know About PIP

Personal Injury Protection (PIP) is insurance coverage taken out to cover medical bills and work loss coverage for the driver and passengers in the event of a car accident. If you live in a “no fault” state, it is mandatory, as it offers medical coverage no matter who caused the accident.

What Does it Cover?

PIP covers your medical expenses, lost wages, and rehabilitation services in the event of an accident. It differs from traditional automobile insurance because, unlike traditional policies, PIP covers your bills regardless of who was at fault in the accident.

This means that even if the accident was your fault, the insurance policy will still pay out and cover the medical expenses incurred.

Where is it Mandatory?

In some states with “no fault” laws, PIP is mandatory. No fault laws are there to protect drivers from the delayed payout of automobile insurance. This means that in “no fault” states, even if the accident wasn’t your fault, your PIP coverage will pay out for your medical bills then recover the costs from the other party’s insurance at a later date.

Twelve states require some form of PIP coverage. These are Hawaii, Kansas, Kentucky, New Jersey, Massachusetts, Michigan, Florida, Minnesota, North Dakota, New York, Pennsylvania, and Utah

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Does it Cover Everything?

Typically, the PIP policy will not cover everything. There are usually limits on how much the policy covers. In some states, PIP will also only pay 60% of the costs, in others this is increased to 80%. It is important to check your individual policy to see exactly what your upper limits are and how much you would be held financially responsible for in the event of an accident.

The majority of policyholders use PIP in conjunction with their health insurance. This means that if you are hurt in an accident, your health insurance will shoulder the primary costs for any medical expenses. The PIP coverage will only pay for expenses that exceed the health insurance limits or lie outside the scope of the health insurance coverage (like lost wages, for example).

By using PIP in this way, road users can ensure they are not left with an astronomical medical bill following an accident which required substantial medical treatment.

Making a PIP Claim

In the event that you need to make a claim, your state will likely have set guidelines on the process for doing so. In a PIP claim, unlike other forms of personal injury claim, you are often required by state law to provide a statement to the other party’s insurance company. You will also likely be required to visit a doctor approved by the PIP insurer.

If you do not fully cooperate with the state law surrounding PIP claims, you will likely have your claim denied and the insurer will terminate your benefits. This is why it is of paramount importance to educate yourself on what the specific law is in your state surrounding PIP claims.

PIP Claims and Auto Insurance

Getting auto insurance with two PIP claims is often difficult. Given the high rate of PIP fraud, many insurers do not like to insure individuals with more than two PIP claims on their record, even if the accident was not their fault.

Fortunately, there are independent insurers willing to buck the trend and insure “high-risk” policyholders with two PIP claims or more on their record. In some cases, the premiums may be higher, but all hope is not lost. 


Fragments of a Broken Trust: 7 Things You Can Do When Your Insurance Company Turns Its Back on You

Sometimes in life, you need a referee or umpire to call the fair play, When you have lost your home or business from fire, flood, hurricane, or worse, your heart just will not take much more.

Most conscientious citizens put their trust in insurance companies. But, when it comes to making decisions on the related expenses and recommending a settlement for damages done, insurance companies may seem to break that personal trust.

The losses can come from many directions. Pain and suffering may follow a personal injury. Your business physical loss may have effects on your business goodwill and employee welfare. Damage from flood, mildew, and mold may not reveal itself until months after the incident. So, it can be tough to identify the expenses immediately.

Any road to recovery after a big loss can be traumatic, but full recovery can be determined first by the language of your insurance contracts. As The New York Times reported, “The disorienting months following disaster are often marked by endless Saturdays spent wandering the aisles of Home Depot; afternoons wasted on the phone arguing with your insurance company about the value of an Ikea crib; and critical decisions made at your most vulnerable hour. And all of this often happens while you are living in temporary housing, wondering if your life will ever return to something like normal.”

Even where the insurance company has no contest with another insurance company, it may disagree on the benefits and costs incurred. You are not likely to fix such problems on your own, but there are things you can do when your insurance company turns its back on you.

7 things you can do to recover damages:

  1. Prepare for the worst: You can avoid or reduce your risks by taking steps in advance. You should make a concerted effort to have emergency plans in place for your home and business. Risk management plans can reduce the level of damage and injury, but they can also save lives and further liability.

Emergency, safety, and recovery plans should impress the insurance adjusters because you have taken the time and care to comply with insurance policy conditions in advance.

  1. Get things right: You want to be in the best position to object about your claim, so re-read your policy carefully. You must know what the “covered perils” are and how they are worded. You should know what is covered and what is excluded.

You will be in a better position if you understand what’s at stake or you’ll have a stronger basis to estimate losses accurately.

  1. Understand the insurer’s notice of denial: If you have received a notice of denial, you must read it closely. Chances are it is phrased in legal language which is not always easily understood. But, the notice of denial could leave you some wiggle room.

Perhaps, you filed the claim incorrectly on incompletely. Perhaps you worded it incorrectly or filed it late. But, even insurance companies do make mistakes. So, you should read the denial carefully to see what you can put together as a response.

  1. Organize your stuff: You should reopen the file you originally made. Then, you can organize the documents by source, type, date, and so on. There are lots of forms, of course. But, you want to confirm that all the forms required are there.

You should also review the forms, estimates, and contracts offered by all the contractors, mechanics, restorers, and other providers involved in making you whole once again. You should include any pictures and videos taken before and after the damage from as many angles as possible. And, you should have complete inventories of possessions, property, equipment, or stock.

  1. Get those doctors’ records: Medical records can be complicated. They can be late being billed and provided. Hospital, doctor, therapy, rehab, and pharmacy bills can overlap and duplicate each other. And, some may have been covered by other resources and insurers.

It may take time, but medical billers do finally get most things correct. However, it may prove you did not have the records you needed for the claim you filed when you needed them.

  1. Consider the settlement: You should not accept the first offer made by your insurance company or the insurer for a negligent party involved. But, you still should have some idea of a high and low number you would consider fair.

You have a right to receive the settlement offer under review in writing even if you are not inclined to sign it, for it is a record you can show to others who might help you resolve the unsatisfactory claim.

  1. Listen to the insurance adjuster: You might call the insurance company adjuster about the notice of denial and listen to their input. It is not the time to argue with them. You just want a record of their view of things, of what you did wrong or what the policy does not do.

You might ask how you should proceed to file a complaint with the insurance company. You have the right to do that as well as the right to file a complaint with your state’s insurance commissioner. But, suing an insurance company or waiting on the state to complete its work means time and expense to you, so you might prefer to contact expert public adjusters.

Your insurance claim takeaway

As Huffington Post says, “A public adjuster works for you, not the insurance company. Your home insurer pays its own adjusters — either in-house or independent — to figure out how much the insurance company should pay for your loss. The insurance company offers its adjusters at no cost to you.”

Insurance claimants using expert public adjusters are protected by Wisconsin Legislative Documents Chapter 618 and by the National Association of Insurance Commissioners (NAIC) and its Model Legislation Act. This assures insurance claimants an additional layer of protection if they opt to hire a public adjuster.