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How to Be Responsible With Credit Cards

Irresponsible spending on credit cards often leads to financial ruin. This is because consumers just spend and worry about the bills later. Credit card statements are one of the most ignored pieces of mail. Missing a payment affects your credit and results in more interest being tacked on to your balance, thus reducing your available credit. Pay Off Balances If you need to use your credit card, make small purchase like gas or groceries. Pay off these balances when you get the bill. Don’t let them linger by making only minimum payments. It is a good rule of thumb to refrain from making purchases that you cannot pay in full when the statement comes. While keeping revolving credit active on your credit report it does show financial responsibility in regards to on-time payments. However, the recurring interest does not help you financially. Pay More than Minimum Payments If you cannot pay the balance in full when the statement does arrive, at least double the payment or make it considerably more than the minimum amount due. Paying only minimum is not […]

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If I take out Health Insurance am I Covered Immediately?

It’s a requirement of the Affordable Care Act for you to have health insurance or face paying a penalty. The question is, once you have purchased health insurance how soon are you actually covered? If you have to have health insurance then you’re going to want to be covered by it as soon as possible; you’ll need to make sure that you’re provided for should you encounter any health problems. This is especially the case given the high costs of health care today. I’m buying a policy so when will it start? The health insurance market place was created as place for people to be able to purchase affordable health insurance during a certain period each year (the enrollment period). If you buy your health insurance at the marketplace then the date it starts is dictated by the date on which you make the purchase. Normally if you buy your health insurance policy between the first day of the annual enrollment period and the third week in December then the policy will come into effect on the first day of […]

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