Planning For Emergency Financial Situations

Emergency financial situations can happen to anybody and any financial arrangement exercise is not ideal without planning for such occasions. The whole idea of having an emergency fund is to offer a cushion against any unexpected expense.

This will ensure it does not have any negative impact on your financial condition and does not rip off the whole financial security.

There are many circumstances which can cause a financial emergency such as a sudden illness, accident, medical emergencies, emergency house repairs, loss of a job, emergency car repairs and much more.

The major reason for having an emergency fund is very clear because when a person falls into an emergency financial situation, they will have to break their savings or make a compromise to get the needed money.

It’s not rare to find people who just take out their credit card and swipe it for hard cash. Opposing popular opinions, credit cards are the worst way to fund any financial emergency. The fastest way to get thousands of dollars its to get a car title loan it is not a long-term solution but a short-term solution.

In a circumstance where you’ve taken a cash advance with your credit card to get the needed money, the credit card company will charge you a cash advance fee with an interest rate. This is a very costly way to borrow and manage finances for emergency situations.

Therefore, what is the best amount that should be set aside as emergency money? There are diverse opinions on it. Some professional’s experts agree that a minimum of 3-6 months’ worth of monthly income should be set aside for an emergency situation. This amount can differ according to marital status, the size of family and lifestyle.

Everyone must reserve some extra cash in case of emergencies. But, the amount to reserve depends on your income and monthly expenses. The amount that is needed for your emergency fund is open to debate, the minimum amount should be sufficient to cover your expenses for daily living for at least 3 months. It’s also ideal to save for 6 months even though some financial advisers agree on a full year worth of cash.

These funds must be kept aside in an instrument, which is easily available when needed. It could be money in a bank account, hard cash, liquid funds or fixed deposits. This will ensure the fund is always accessible instantly or within a short period when it’s needed.

Where to Keep the Cash

Your situations and what can offer you peace of mind are the factors that can help you determine how cautious you want to be. Keep your emergency fund somewhere that is safe and accessible because you may be required to get the cash in a hurry when an emergency arises. The best option you’ve is to open a money market account or savings account. But, always examine their offer with regards to the interest rate, minimum balance, and other terms.

Self Growth Techniques for Personal Success

What is self growth? It is about shaping yourself to become a better person with solid values, ethics and a well balanced approach to life. It is the process of working on your areas of improvement and turning them into areas of strength and opportunities. Just how can you do that? Here are five simple techniques for starters:

1. Learn from others. Start with your immediate family and closest friends. What are some of their traits that you admire? What have they accomplished that makes you want to be like them? Talk to them and ask them what they did to achieve self growth that led to their professional and personal success. Then check out famous people whose work you admire and read articles on how they got to the top of their profession. Learn as much as you can about their individual techniques and see which ones you can adopt for yourself.

2. Observe admirable people. Look at how they conduct themselves, from the way they walk, talk, sit and generally behave in public. Such refinement can only be a product of effective self growth techniques, which include polishing one’s looks, movements and skill sets to complete the overall package of the person. Look at how they treat others and are treated in turn. You can take a page out of their demeanor to propel yourself towards personal success and professional recognition. This isn’t to say you should mimic their every move; just derive the best practices possible from them that you can employ for your own good.

3. Assess your own attitude. How have you been behaving by your lonesome? Are you a person of integrity – always doing the right thing even when no one is looking? How are you with other people around? Do you exercise kindness and consideration for others, or are you being fueled by your own selfish needs for personal success? Bear in mind that in order to succeed at self growth, you must possess a mature disposition and a kind heart. Aim to be a caring and morally upright person no matter where you go. The universe has a way of rewarding people who treat others well and punishing those who won’t hesitate to trample on the feelings and rights of others.

4. Envision the kind of person you would like to be one day. This is a great self growth exercise that can provide you inspiration on your journey to professional and personal success. Paint a picture of the Ideal You – the kind of individual you wish to become in the future. How do you see yourself in that image? Do you see a nation-building politician, the next Mother Teresa, or the next Steve Jobs? Use your imagination as your mood board to guide you as you work on your greatest ambition.

5. Get rid of vices that may be harmful to your self growth. Are you quick to turn to painkillers when you feel the slightest muscle twitch? Do you tend to gorge on sugary snacks and drinks to keep your energy levels up as you slave over a very important project? Remove all self destructive habits from your system and start living clean! You won’t be able to enjoy personal success if your health takes a nosedive and renders you bedridden most of the time. So go have that physical check up and get tips from your physician and nutritionist on how to live a healthier and more wholesome lifestyle.

Distracted Driving Is a Bigger Problem Than We Thought

The numbers do not lie: 37,150 people in the US died due to distracted driving in 2017. But, sadly that is not the worst part of the news. Researchers are finding that there is no single cause to preventing distracted driving.

This means that there is no direct route to a solution resulting in more and more deaths. Right now, the only thing proven to work is to spread awareness about distracted driving.

Another thing that experts are deciding to try is how to make smartphone connectivity to cars to take less attention. Almost every new car on the market makes it easy to connect your phone to your car.

You are able to stream music, map directions, and in some cases even order food, coffee, etc. This is taking many drivers’ attention away from the road, in drivers aged 17 to 22 spend at least 12% of their time behind the wheel messing with their smart phones. Any percentage of time on your phone behind the wheel is too much time directed away from the road.

Both Apple and Android have their own extensions for cars. At one point Apple demanded more of customers’ attention than the Android version when entering directions and getting from one place to another. But, when it came to texting Android was by far more of a distraction. However, both must make a change to reduce the threat of distracted driving.

With all of the new tech in cars, come inward facing cameras. Some people are not okay with that for privacy reasons which is understandable as to a degree, it is a basic right, in most peoples’ eyes. However, these cameras may help develop self-driving cars with the data it collects. Additionally, it may be our answer to solving the distracted driving epidemic.

The data the cameras collected from crashes and everyday driving habits can be analyzed by experts to determine how to make the new technology in vehicles less cognitively demanding or even develop an algorithm to prevent inappropriate use while the vehicle is in motion.

But, how much privacy are consumers really willing to give up? How much of their data are companies entitled to? Right now, there is not much regulation, but it is probably coming soon as new cars will soon all have this technology.

There must be some type of compromise because when this data is used appropriately, breakthroughs can happen. For example, a lot of the tracking built into these cars can prevent crimes. A lot of the data provided can solve the mystery of crashes, including distracted driving crashes and provoke ideas on how to prevent them. The results can save money on auto insurance, medical bills, and most importantly lives which are priceless.