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What to Do When the Novelty of Frugality Wears Off
During the last few months of social distancing, many people found themselves living a far more frugal lifestyle than they had done before.
Many of us leaned into that frugality, doing things like baking bread, cooking meals at home, using up things that were in the pantry and doing all sorts of money-saving projects. People have stayed at home and watched movies they already had and played games they already had instead of going out to movies and to live events. Many of us engaged in all kinds of little frugal projects, from pulling out the sewing machine to fix some clothes, make face masks, fixing things and doing maintenance around the house. We’re saving containers that we might have previously tossed, repurposing a pickle jar to save some leftover soup.
Two months in, however, and many people are discovering one of the hidden truths about frugal living, particularly when you’re new to it: frugal burnout.
Navient Student Loans Review
Navient is one of the nation’s largest federal student loan servicers that helps borrowers navigate the long-term process of student loan repayment. Headquartered in Wilmington, Delaware, Navient was established in 2014 when Sallie Mae was split into two separate corporations — Sallie Mae stayed in charge of handling private student loan debts and Navient services federal student loans.
It’s important to point out that in January of 2017, the Consumer Financial Protection Bureau (CFPB) sued Navient, claiming it had cut corners to save on operating costs. It states Navient did an overall poor job of helping borrowers pay off their loans.
Buying the Best, or Just Good Enough?
Let’s imagine for a moment that you’re going to the store to buy a new washing machine because your old one died. The store has a ton of options available, and as you’re looking on your phone at reviews, it’s pretty clear that there are a couple of mid-priced models with some good reviews and a couple of more expensive models with great reviews. Which one do you choose?
On the other hand, let’s imagine that you’re moving into your first apartment and you need some items for your kitchen. You have a reasonable budget to work with. Do you buy a small number of really high-quality items that will last for a long time, or do you buy a lot of inexpensive items that will work for now but will need to be replaced when they break?
How to Maximize a 0% Balance Transfer Offer
When you’ve finally decided to buckle down and get rid of your debts, one of the first pieces of advice you’ll find anywhere about how to approach the problem is to line up your debts by interest rate with the highest one first, then make minimum payments on all debts while putting a big extra payment toward that highest interest debt at the front of the line. When that debt is gone, you move on, putting your big extra payment each month toward the debt that’s now at the front of the line, and so on until the line is empty.
Of course, one way to make this debt lineup a little easier to tackle is to look for ways to reduce the interest rates on those debts before you line them up. You might do things like consolidating your student loans or refinancing your home, but another option that people often use is to sign up for a new credit card with a 0% balance transfer offer.
Questions About Student Loans, Air Fryers, Credit Cards, Sourdough and More
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.
1. Student loans and interest accumulation
2. Thoughts on air fryers
3. Consequences of unpaid credit cards
4. Make leftovers into a casserole
5. Spending wakeup call
6. Obligation to support local businesses?
7. Evernote versus Notion
8. Can we afford the house?
How Does a Lapse in Car Insurance Impact Your Rate?
Car insurance protects you from liabilities when you’re on the road. But if you don’t drive often or are moving abroad for a semester or are being deployed overseas, etc., you might assume you don’t need insurance and let your car insurance lapse. If you cancel your policy without getting a new one, or you let your policy expire, you’ll have a lapse in car insurance which negatively impacts both your insurance rates and your ability to get new coverage.
New Car Replacement Coverage: Everything You Need to Know
Getting behind the wheel of a new car can be an exciting moment, and it’s even better if you are secure in the knowledge that you’ve got the best car insurance for your situation. You want to protect your new car from any damage and to know that if the worst happens, you’ll be able to cover any repairs or replace the car with a similar model if it’s totaled.
Car insurance is mandatory in all but one state (New Hampshire) in the U.S., but you still have a lot of flexibility in tailoring your coverage to work for your circumstances. Once you’ve met your state’s minimums, you’re free to purchase additional coverage as you wish.
What Does At-Fault Mean?
In 2018, there were 36,560 car accidents recorded by the Insurance Institute for Highway Safety (IIHS). That’s why most drivers are required to carry car insurance. In the event of an accident, insurance will pay to repair vehicle damages or cover medical expenses if there are injuries.
Car accidents are usually caused by one driver crashing into another. The driver responsible for the crash is considered to be at-fault a designation which determines which driver’s insurance company will cover the losses resulting from the crash.
What Are the Consequences of Driving Without Insurance?
Getting into a car accident is never a good situation, but if you have auto insurance, you can rest assured that your vehicle damages and medical bills should be covered. Although car insurance is legally required in 48 states, not every driver has proper insurance. If you’re uninsured and you get into an accident, you can expect to face serious consequences.
Understanding Your Homeowners Insurance Declaration Page
Home insurance policies offer protection for the insured home, the possessions within the home and the homeowner’s liability.
If the home is damaged or the homeowner faces liability, the insurance will cover the cost up to the limits defined in the policy. Understanding what your insurance covers is important in case you ever need to file a claim.
Learn how to read your declaration page to understand your policy.
Find the Best Home Insurance
Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.
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