What is Short Term Health Insurance?

What is Short Term Health Insurance?
There are plenty of health insurance options out there and most people will choose health insurance from their employer or from their spouse’s employer. However, there are unique situations that will need different health insurance. Short-term health i…


How to Sort Out Your Debts

How to Sort Out Your Debts
If you are having problems with debt then don’t panic, but also don’t ignore the problem. In order to deal with debt you will need to:

Sort out how much you owe
Determine the most urgent debt
Determine if you have money to pay debts off and how much y…

How to Lower your Health Insurance Premiums

How to Lower your Health Insurance Premiums

There are ways that you can lower your health insurance premiums and save money on health insurance.

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health insurance

Stop Smoking

If you are a smoker then you need to quit, as you will be able to save quite a bit of money on health insurance. Health insurance premiums on health insurance exchanges can be up to 50% higher for smokers even if you have never been diagnosed with a smoking related illness.

Apply for a Subsidy

If you do not have affordable employer based health insurance you are able to apply for a government subsidy to lower your health insurance premiums.

Premium Tax Credit is a subsidy that pays part of the monthly premium for your health insurance. As you will only be paying a portion of the premium you will save money.

More Restrictive Health Plan

The more restrictive your health plan is then the lower the premium will be. A restrictive plan has more rules about how you are able to get your health care and who provides it.

Plans with Higher Cost Sharing

The higher a health plans cost sharing requirements are then the lower the plans premiums will be. Choosing a plan that has higher coinsurance, deductible, rates or copays will usually lower the premiums.


Health insurance companies are able to vary their premiums due to where you live. However, you may not have to move across the country to find a lower a health insurance premium as in some cases just moving a few miles can make the difference.

Moving will not be practical for most and for others the cost of moving will wipe out any savings from health insurance premiums, but if you are in an expensive part moving to a lower cost area could save you money.

Weigh Spousal & Family Plan Options if Someone in Your Family has Job Based Insurance

If you are married and your spouse has health insurance through their job then see how much it will be to add yourself to their plan.

If you are under 26 years old then see what it would cost to be added to your parents plan.

Buying a family plan is less expensive than buying individual plans, but keep in mind that employers offer all sorts of combinations now so you will need to compare all of your options.

If you would like to know more about medical insurance, head to FinanceMan.


Types of Debt Consolidation Loans

Types of Debt Consolidation Loans

If you have a large amount of debt then you may have considered taking out a debt consolidation loan. With this type of loan you will combine your high interest rate debts into one loan that has a lower interest rate. Your monthly premium is then lower so that you can afford your bills more easily.debt consolidation

There are few types of loans that you are able to use to consolidate your debt.

Home Equity Loans

This type of loan is taken out using the equity in your home as collateral. You will need to have a fair amount of equity in your home and a good credit in order to qualify.

The interest rates on this loan are generally lower than other types; the problem is that your home is now at risk. If you are unable to afford the repayments then your home could undergo foreclosure.

Credit Card Balance Transfers

A low interest rate balance transfer means that you will transfer all of your credit card balances to one credit card.

A low balance transfer interest rate is generally only valid for a certain period of time. You will then need to know when the low interest rate expires.

The only problem with this though is that your credit score could take a hit. Putting a lot of debt onto one credit card could have a negative effect on your credit score.

Personal Loan

A personal loan is a type of unsecured loan that has fixed payments for a period of time. You can use this type of loan to consolidate your debts. However approval of this type of loan can be hard to get.

Debt Consolidation Loans

Banks and credit unions offer these loans so that you are able to combine your debts. This type of loan will have a lower interest rates and increasing the repayment period lowers your monthly repayments.

If you would like to know more, head to FinanceMan.


Tips for taking out a Personal Loan

Tips for taking out a Personal Loan
When you are taking out a personal loan there are a few things that you need to know.
Shop Around
When it comes to taking out a personal loan you need to shop around so that you can compare APRs. The APR will tell you the real cost of a loan and…

Top 3 Personal Finance Software

Top 3 Personal Finance Software
It can be difficult to choose the right personal finance software, but here is a look at the top 3.
With Mint.com you will find plenty of features including creating a budget and paying bills. The software will organise your information into categories so…