Turn Bad Money Habits Into Good Ones

4/25/2019

Don't... Ignore news about the economy
Do... Watch some business news on cable TV

Don't... Buy lots of extra features on products
Do... Use marginal costs in buying decisions

Don't... Focuses only on take-home pay
Do... Sign up for employer tax advantaged savings plans

Don't... Spend all your income
Do... Put money away for a rainy day

Don't... Combine all your marital funds into one account
Do... Consider having 3 checking accounts: joint, his, hers

Don't... Don’t know how much to save for retirement
Do... Begin investing as soon as possible

Don't... Rent an expensive apartment
Do... Spend no more than one-third of your budget on housing

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Renters Report Housing Costs Significantly Impact Their Health Care

4/18/2019

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More than half of renters have delayed medical care because they could not afford it, according to first-of-its-kind survey

A new national survey on the connection between homes and health from Enterprise Community Partners Inc. (Enterprise) finds that more than half of renters surveyed have delayed care because they couldn’t afford it and 100 percent of medical professionals surveyed have had at least some of their patients express concerns about affordable housing.

The survey, the first to examine renters’ ability to afford health care and medical professionals’ perception of those challenges, reveals renters who are paying a high percentage of their income for housing are regularly making difficult trade-offs between rent and health care.

The findings paint a stark picture of the state of health care and affordable homes in the U.S. The survey finds:

Every one of the 500 medical professionals surveyed reported that at least some of their patients have expressed concerns about affordable housing, with 31 percent of those professionals reporting that at least one quarter of their patients have expressed concerns about having an affordable place to live. This number increases to 42 percent among medical professionals with a larger low-income patient population.

Nearly all (95 percent) lower income renters say that rent is their most important bill, but 78 percent of medical professionals think their lower income patients would prioritize their medical bills over rent.
More than half (54 percent) of renters surveyed have delayed medical care specifically because they couldn’t afford it.

Among those who delayed care because of affordability, the most frequently delayed types of treatment included preventive routine check-ups (42 percent), seeking treatment while sick (38 percent) and buying over-the-counter medications (35 percent).

44 percent of medical professionals believe a lack of accessible health care hinders the health of lower income communities, and less than half (48 percent) of lower income respondents are satisfied with health care accessibility where they live.

"No one should have to choose between paying rent and paying for health care," said Laurel Blatchford, president, Enterprise Community Partners. "And yet, thousands of people make that difficult trade off every day. That’s wrong. By working closely with health care organizations, we’re creating ways for renters to afford the health care they need."

The data shows that painful tradeoffs between housing and health care are even more common among severely rent-burdened respondents, who are people paying more than 50 percent of their monthly income for housing. Severely rent-burdened respondents reported the following:

• 83 percent said they prioritize paying rent before anything else, compared with one percent prioritizing health care costs.

• Nearly half (45 percent) have not followed a treatment plan provided by a health care professional because they couldn’t afford it, compared with 34 percent of all renter respondents.

• Nearly one-third (31 percent) of severely rent-burdened respondents delayed a routine checkup because they couldn’t afford it, compared with 23 percent of all renter respondents.

• Severely rent-burdened respondents report low satisfaction rates with housing-related factors that impact their health, including adequate access to outdoor spaces (47 percent), lack of exposure to indoor toxins (48 percent) and air quality (38 percent).

• 89 percent report that financial stress is the issue in their lives that is worst for their mental health. At the same time, 92 percent of medical professionals report that when they advise their patients to reduce their stress, patients say finances are the biggest source of stress.

"Whether it’s housing that is poorly designed or maintained that makes its residents sick, stress from needing to move often or skipping needed care and medication in order to make rent, our health is inextricably linked to home," said Brian Rahmer, vice president, Health and Housing, Enterprise. "This survey is the first to carefully document how these challenges affect both renters and medical professionals, and will help both the health and the housing sectors collaborate to improve lives. This interdependence between health and housing must remain at the forefront of our collective health equity efforts."

The survey is part of Health Begins with Home, a national Enterprise initiative to harness the power of affordable homes to create healthier families and stronger communities. The initiative convenes crosssector partners to promote health as a top priority in the development and preservation of affordable homes and to elevate homes as an essential tool for improving resident and community health.

Enterprise conducted the survey in partnership with Wakefield Research. The online renter survey polled 1,000 U.S. adult renters, 500 of whom have household incomes at $50,000 or under. The online medical professional survey polled 500 U.S. medical professionals, including doctors, nurses, and physicians’ assistants.

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Peer-to-Peer Sharing Economy

4/11/2019

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The sharing economy refers to person-to-person (P2P) sharing or access to goods and services where owners rent out something they are not using, such as a car, house or bicycle to a stranger. This is coordinated through community-based online services and is another way to make ends meet each month when you live on a reduced fixed budget.

Today we are hopping into strangers’ cars (Lyft, Sidecar, Uber), welcoming them into our spare rooms (Airbnb), dropping our dogs off at their houses (DogVacay, Rover), eating food in their dining rooms (Feastly), and getting food delivered from popular restaurants (Cavier). We hire their handymen (Handy), get goods delivered in an hour (Postmates), and outsource household errands (Taskrabbit). They rent our cars (RelayRides, Getaround), boats (Boatbound), houses (Homeaway) and power tools (Zilok).

We are entrusting complete strangers with our personal experiences and sometimes our lives. This is also known as shareconomy or collaborative consumption.

Seven Money Mantras for a Richer Life
from Michelle Singletary, Washington Post Columnist

1. It’s not an asset if you are wearing it.
2.Is this a need or is it a want?
3. Sweat the small stuff
4. Cash is better than credit
5. Keep it simple
6 Priorities lead to prosperity

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Traffic Fines Can Up End a Tight Budget

4/4/2019

Traffic fines are an especially heavy burden for seniors on fixed incomes. It is worthwhile to take note of the new fees and to try and be aware not to make a mistake while driving that will cost hundreds of dollars out or a tight budget. Not to mention the effect on insurance premiums. So being forewarned can help to deter behavior we may later regret. Below are the new rules and fine schedule for 2019.

Forgot to carry your driver's license for $214.

Forgot to change the address (more than ten days) $214

Uninsured car in accident for $796 ‘and’ driver's license revoked for 4 years.

Didn't stop at red light or turning right at No Turn on Red $533.

Crossing double yellow line for $425.

Violation of the turn or U-turn $284.

Speeding 1-15 miles $224, 16-25 miles $338, usually the police determined that speeding is over 5 miles. On rainy day it is not allowed to exceed 65 miles.

Did not stop at Stop Sign $284.

Passing a school bus when there lights are flashing $675.

Talking on cell phone first time $76, 2nd time $190, same penalty even if you are just holding the cell phone in your hand!

Stop at a bus stop $976.

Not wearing a seat belt $160.

Driving with high beam lights on (from 30 points) for $382.

Child not wearing a seat belt or not in a child seat $436.

Covering car door $178.

Driving with headphones on $178.

Modified Exhaust $1000 each stop.

All the above violations allow you to go to traffic school for 8 hours. If you get a second ticket within 18 months, sorry, you are not a Good Driver and this will drive up your insurance rate.

Safe driving everyone!