Emergency Preparations - Are you Financially Ready for Emergencies?

Are you prepared for an emergency? You need to be financially prepared for emergencies, or you will end up taking a hard financial hit. 

Here are some things to consider when it comes to financial emergencies:

1. Is your insurance coverage going to be sufficient? Are you a homeowner? If so, do you have adequate coverage for your house and contents? Do you live in a flood-prone area? If so, it’s possible you will need a separate flood policy, as most regular homeowner’s policies don’t cover damage from flooding. If you rent your home privately or from the council, tenants insurance could be a sensible option. While some council housing may come with a certain amount of tenants’ coverage, it can vary, and hardly ever covers the cost of even half your household contents. Your best option would be to use a comparison site to find a tenants insurance policy which you should be able to find for less than twenty pounds per month.

2. Are your financial records in a safe and secure location? The Red Cross recommends you keep at hand a “disaster kit,” a portable, waterproof, fire-resistant box that you keep nearby at all times, it should contain:

• Home improvement records 
• A record of all your possessions 
• Warranties and/or receipts for major purchases 
• Evaluations of jewellery, collectibles, artwork, and other valuable items 
• Credit card records or at least your account number and login information 
• Retirement account records or account number and login information 
• Recent current, savings, and investment account statements or account number and login information 
• Tenancy agreement, lease and/or mortgage documents 
• Recent pay slips and any employee benefits information you may have 
• Backups of important digital information, such as any accounts etc. 
• If you have one, Safe deposit box information such as the location, contents, and key 

Also you might want to keep a copy of your will and any solicitors documents you own.

3. Do you own any dispensable cash? It’s a good idea to have some cash hidden in a safe place, because bank card readers and cash machines won’t be working if the power goes out. Maybe if you have a cheque book also keep some blank checks (unsigned) with you.

This article was contributed by Frank Sexton on behalf of BadCreditPersonalLoans.co.uk. They specialize in providing low rate bad credit loans and also love sharing financial advice through different blogs.

How Can International Tax Affect Me?

Taxes (Photo credit: Tax Credits)

International tax can have a significant impact on you and your income. For UK taxpayers, it’s important to remember that how you’re taxed, and at what rate, is determined by whether you’re a resident of the UK, or a domicile, which affects your worldwide taxation. Other factors can involve how much businesses have to pay in terms of capital gains and remittance, as well as how investments and offshore accounts are handled. It’s also worth remembering that there are options for protecting foreign income, or using offshore accounts to manage income from within the UK. 

Anyone who’s a UK citizen, and is resident in the UK for half or more of the year, and pays income tax and National Insurance Contributions, is considered to be resident, and pays tax on their worldwide income. You can also be ordinarily resident, where you spend around 91 days a year in the UK over four tax years, and can be liable to more tax. By comparison, you can be domiciled in a particular country if you move between them, whereby you can be born in the UK, but domiciled somewhere else for tax purposes - this is typically defined by your parents’ domiciled at your birth, or by moving abroad and choosing a new country as your ‘domicile of choice’. How this is defined is often dependent on your personal situation and HMRC’s judgement. 

People that can be resident in the UK can therefore be domiciled elsewhere, and avoid paying UK tax on income or capital gains that are made outside the country, so long as it is not brought into the UK. Being non domiciled means that you avoid paying inheritance tax at UK rates on non-UK assets. There are situations where you can pay double tax on income brought into the UK, at which point it’s important to register your residency and domicile of choice with HMRC. Businesses can take advantage of not being taxed on their international income by registering as non domiciled, as long as it is not remitted into the UK. When this occurs, high earners often pay a fixed remittance charge for this income. In the last few years, HMRC and the UK Government have been trying to make it harder for individuals and businesses to claim non domiciled tax registration without justification. 

Other ways of protecting international earnings include making investments from abroad into the UK, whereby a remittance charge may not apply. Some exemptions might also be made on securities in European bonds. Moreover, there are cases where UK income can be invested in overseas schemes and tax havens through registered foreign companies, meaning that income does not technically be paid out within the UK tax systems. Whether you have a domicile in the UK, as well as whether you or a business are considered a resident or ordinary resident will affect eligibility here. It’s clear, then, that you stand to be affected by international tax if a proportion of your income is made outside the UK, with your legal status as a taxpaying individual or business having perhaps the strongest impact on whether you will pay more. It’s recommended that you seek advice on how your non-UK income can be handled, and whether you can benefit from both exemptions on remitted income, and from legal offshore accounts. 

Author Bio: Liam Ohm writes about tax. He highly recommends Faulkner International for information on company formation. In his spare time he enjoys reading and networking.

Car Financing for the 50 Plus Driver

Getting a car at any age can leave a massive hole in your wallet. Getting a new car is often out of the question, especially when you’re over 50. So you should choose carefully. Even without the option of buying a new car, there are a lot of great used cars out there, which are practically waiting for you to get them. There are always ways to finance a car that will leave both your wallet and your retirement funds seem almost intact. In this article, we will look at different options to car finance. These should come in handy as you make the decision on purchasing your car.

Borrowing from friends

Borrowing money from a bank may not be the best option when you’re 50, not to mention the interest they charge you. It’s not really smart to pay interest for a car. But unlike banks and professional lenders, your friends can lend you money, without charging any interest. Also, a friend wouldn't mind if you were late with the monthly payment. But always make sure you can afford to pay them back before you borrow!

Be persistent

Even if you’re able to borrow from a professional lender, at 50 it becomes a tougher option. But don’t give up on getting a new car for yourself or your family just because one of them turned you down. Be persistent. As you wouldn't apply to just one job if you’re jobless you shouldn't apply to just one lender when it comes to car loans. You will have to fill a lot of loan applications, answering a lot of questions, about your income, employment history and expenses. But whatever you do, do not misstate any information you are stating in the application. All of those applications go through a verifying process, and not telling the truth may put you in real trouble.

Know your credit

It is best to check where you stand before you actually get a loan for a car. You might be able to put your hands on a car loan no matter whether your credit is good or bad. But the difference is that the worse your credit is, the more you will pay. Loaners and banks have the ability to easily repossess your car if you can’t pay for the loan.But, you will be “lucky” to get a car loan if your credit isn't shiny.

Money for Down Payments

This is the trickiest part of buying a car. But you do have a few options. Chances are, that at age 50, you have to dip into your retirement funds to get those approximately $1000 to put down as the down payment when buying your new car. But, that doesn't have to be the case. A better option would be that you try to trade in your old car for a down payment.However, trading in your car as a down payment may not always be worth it, and you will most probably get more cash if you sell your old car yourself. But sometimes, if you know your old car’s value and the trade amount is approximate to the car’s value, this could be the option that you use. Otherwise, like mentioned above, you could always borrow some money from your friends too so you raise the money required for the down payment.

Be there with cash

Please beware that many dealers may find a way to manipulate you, or get you to sign one of their high-interest loan deals. That’s why sometimes it is better to get a loan from a bank or a credit union. They will usually take lower interest, and offer you better deals than the average car dealers. Though, that is not always the case.

In case you are really tight with money, you can always turn to finance companies. Even with sky high rates and really bad terms, you can turn to them if you have no other choice.

But to avoid making such harsh deals, in the very worst situation, the best option for you would be to tap into your retirement funds so you can raise the cash for the down payment, and a small bank loan.

Commercial Car Insurance: What You Need to Know

Having commercial auto insurance is essential, particularly if you use your vehicle for your business, or you drive a company vehicle to the workplace. When it comes to this type of insurance, both the employer and employee have shared responsibilities. This article will discuss how commercial auto insurance protects business owners and employees in the event of an accident, and the types of coverage for commercial driving. 

Importance of Commercial Car Insurance 

If you're a business owner with employed drivers for transportation or delivery purposes then having a commercial auto insurance is crucial for your business. Most states require business owners to purchase a specific amount of commercial liability insurance. Having a commercial insurance policy protects your business from any financial responsibility in case a car accident occurs involving your company drivers. 


On the other hand, if you're a commercial driver, you may also want to consider getting this insurance. Ask your employer about the extent and limitations of the commercial insurance carried by the business. Furthermore, inquire about the types of coverage included in the policy. 


Commercial insurance policies can include comprehensive coverage, collision coverage and uninsured/underinsured motorist coverage. 
Once you know what the business' insurance policy encompasses, you can make a better decision on what additional insurance to purchase for complete protection. 

Don't Put Your Personal Coverage at Risk 

Using your personal car for business purposes can endanger your insurability. If your insurer finds out about it, the company can choose to cancel your insurance policy. Even just making a delivery can be grounds for policy cancellation since the usage of the car is related to your business operations. Moreover, when an accident occurs while you use a personal vehicle for business reasons, the insurance provider may reject your claim. Thus, it's best to purchase commercial vehicle coverage instead of risking your own personal auto coverage. 

Types of Coverage Necessary for Commercial Driving 

States have varying requirements when it comes to business vehicle insurance. The minimum liability insurance required depends on your location. Make sure that you check your state's requirements. Here are other types of commercial insurance: 

Collision Coverage 

This type of coverage pays for damages due to collisions. For example, if your business car crashes with another vehicle, road sign, mailbox or any other stationary object, then your collision insurance will cover the repair expenses. 

Comprehensive Insurance 

This covers damages caused by theft, vandalism, weather conditions and natural disasters. If your commercial car travels through areas with harsh climates or you are driving or parking in unsavory neighborhoods, then you should consider getting this type of insurance coverage. 

Underinsured and Uninsured Motorist Coverage 

This financially protects you when car accidents occur involving underinsured or uninsured drivers. For instance, if you get involved in an accident that results in $100,000 worth of repair expenses, and the underinsured driver only carries $50,000 worth of coverage, then your insurance policy will cover the remaining half. Underinsured/Uninsured motorist coverage is very important considering that there are lots of drivers on the road today who don't have adequate insurance. 

Purchasing adequate commercial auto insurance is a good measure to protect your business. It's advisable to buy more insurance than your state's requirements to ensure that you're well covered. 

Richard Ackerman has worked in the auto insurance industry for many years. He enjoys offering advice on the subject by blogging for car and personal finance blogs.

How a Commercial Lawsuit Loan Can Keep Your Business Afloat

 (Photo credit: Wikipedia)

Nowadays the costs of court litigation are really high which means that a commercial lawsuit will definitely make a great difference to your company. Before understanding how this can help you to keep your business afloat you need to know what a commercial lawsuit is all about.

What is commercial lawsuit?

Commercial lawsuit is basically any kind of legal controversies which are associated to business concerns. It covers all kinds of conflicts in business and comprises of various heads which includes cases like Employment disputes, disbanding of business, issues related to franchisees, shareholders, and partnerships, payment disputes, collection of debts etc. That is not all. There are various issues related to commercial lawsuits.

Description of a commercial lawsuit loan

It is also important to know the working of commercial lawsuit finance to measure the true value of the loans. There are various types of financial institutions who offer commercial loans for lawsuits. They offer the money with the belief that the client will win the battle they are fighting. If you are the one who is strangled in the battle you can always approach a lawsuit firm who will help you out considering the merit of your case. 

Depending on that they will pay you good amount of money in advance. The money needs to be paid back if you have won the case. Sometimes if they feel you are on the weaker side, they charge a fee along with the advance money.

Why you should not always hope of winning the game

It is not always necessary they you win every case. Your case might be strong but at the same time it needs to give good amount of time to win. Judicial cases take a long time to fight a legal battle and then win because of the lengthy court procedures. There are numerous businesses that have a chance of winning; however they are bankrupt by the time they are on the verge of a judgment. The ongoing costs of litigation are really expensive if it is a long drawn battle and most of the people cannot go by the same.

Good enough for you to suffice

The law firm understands the merit of your case and depending on the same they pay you an advance. This will definitely help you to fight your case.

Protecting a multiplicity of requirements

Since you are dealing with businesses, your firm can get occupied in numerous legal disputes. However the commercial law firms give you advance money for certain selective disputes such as disputes in real estates, copyright violation claims, infringement and any others.

You can use it for your own purpose

The advance money which the lawsuit firm offers to your company can be used by your company for their own lawful business requirements during the pendency of the case. This is what helps your company to keep afloat during the pendency of the case.

As per the researchers from Logbook Loans, the money can be used by you to increase your business as well as pay off the employees of the companies. So though you are under a legal litigation, you are not being stopped from expanding your business. You have all the scope to grow as a good business firm. This is how a commercial lawsuit loan can always help you to keep your business afloat and help you to expand your business.

Tips for Buying Cheap Health Insurance

Did you know that as women age, we have special health related needs and are more prone to chronic diseases, and yet, a large population of women do not have health insurance. Despite being educated, women have historically experienced discrimination with regard to their health, simply due to ignorance, financial constraints and a lack of awareness of women’s issues. 

Research has shown that uninsured women are more likely to suffer serious health problems. They tend to ignore symptoms and wait too long to seek treatment, and many don't buy prescription drugs because of their high cost. Also many don't get preventive care, including lifesaving screening tests such as mammograms and Pap tests.

Hopefully, with the changing dynamics of today’s world, this can change. There are more working women in companies today than earlier, who are likely to be primary decision makers for their families as well. To satisfy our various roles as decision makers and consumers of health care, it is important for us to have adequate knowledge of health insurance.

There are a variety of private and public health insurance programs. A lot of women get health insurance through their employer or as ‘dependents’ in a family plan. People who have private insurance either buy it themselves or get it through their employer, called "group insurance." Group insurance obtained through an employer typically requires the employee to pay some of the overall policy cost. So it could work out pretty expensive, depending on the treatment you seek.

Of course, we all look for cheap health insurance. One way to keep premiums manageable is to increase your deductible and stick to the basics. Don’t go beyond what you think you can afford to shell out every year. You could skip the dental and vision coverage. However, some benefits are more important than others. A maternity rider is one of the most important benefits you should invest in, even if you decide to have a family in a few years, as by then, it may be too late to add to the coverage.

Some insurers are known to lure customers with attractive teaser rates that change in a few months. Beware of such insurers and make sure you read the fine print carefully. Your plan should be comprehensive enough to cover benefits, should you suddenly fall ill and need to be admitted to the hospital.

There also are public health insurance plans funded by the federal and state governments. The government provides health care coverage for qualifying women through Medicaid, Medicare, and special interest programs. These plans serve those who meet certain financial, age, or situational requirements.

Thanks to the Affordable Care Act (ACA), implemented by Obama in 2010, we can now look at subsidies in insurance options and covering preventive services. The healthcare law ensures that insurance companies can’t deny coverage to women with pre existing conditions such as pregnancy or cancer, women pay lower health costs and get their choice of doctor. Under some health plans, women’s preventive health care services – such as mammograms, screenings for cervical cancer, and other services – are already covered.

Some women face difficult situations, in which they are ‘overqualified’ for government assistance but cannot afford costly medical care, and they don’t have much of an idea about cheap health insurance. For them, there are free clinics provided. In addition, there are drug companies that will work you’re your health care provider or doctor to supply free medicines to the needy.

Some professional associations, clubs, labor unions and such organizations offer private health insurance to its members, which usually work out cheaper than if you had availed of it otherwise.

Bio : Sharon is a writer for several women’s magazines and she is passionate about educating women of all socio economic backgrounds on subjects like cheap health insurance, finance, sanitation and well being. She has been a volunteer for several organizations that reach out to underprivileged kids, orphans and women diagnosed with terminal diseases. She enjoys travelling, reading and learning foreign languages in her spare time.