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.

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.

Automobiles – Your Precious Possession

Global automobile companies like Mercedes, Hyundai Motors, Fiat, Ford, and Toyota etc have stepped into International markets. Now Indian automobile companies like Maruti Suzuki, Tata Motors, Hindustan Motors, and Mahindra etc. are also recognized as global manufacturers and keep on bringing new models of automobiles into the international market. This shows that people across the world are investing a lot on various car models launched by a number of manufacturing companies. Automobiles, whether it is a car or bike have become a possession of flaunting ones personality.

No doubt, people spend a lot on automobiles, in such a situation, automobile insurance becomes indispensable. Expensive cars and road bikes are no longer a necessity now they have become an inherent part of ones personality. Your precious automobile requires safety, proper care and our great vigilance. Also, vehicle theft is almost common in all the countries of the world and can cause you a loss of hefty sum of money, if by chance you lose your vehicle. In addition to these, possibility of road accidents whether you are living in any part of the world is something you can not deny. Here is when Automobile insurance comes into play. Automobile insurance safeguards you against any such heart-reckoning situation which can lead to loss of your costly vehicle earned by your hard-earned money. Now days with the facility of internet you can apply for automobile insurance online.Online automobile insurance makes an easy and less expensive way of getting your vehicle insured.

Besides this, your dream of owning a luxurious car has now become easy through the various car loans being offered. Now with the car loans facility you can buy a brand new SUV, MUV, jeep or even a small car.The new car loans provided by the various banks and financial firms enable a consumer to own the latest model of cars from various manufacturers, like: Maruti, Hyundai, Tata Motors, Fiat, Ford, Honda and many more. The size of the car loan usually depends on the type of the vehicle whether it is standard or premium, the percentage of financing and the cost of the vehicle. In case of a new car a loan of up to 90% of the total cost of the car can be availed. Normally the tenure of repayment of the auto car loans can vary from 1 to 5 years, but some banks offer a flexible relaxation up to 7 years. Auto Loan Calculator estimates the overall cost of purchasing a car, including the sales price, sales tax, and the many charges and fees that are thrown on you when you finally decide to make the purchase.

Automobile suppliers take care of all the needs of the customers related to the automobile they want to buy. The list of automobile suppliers is normally available online. You can check through internet and contact the automobile supplier of your area if you want to buy any car, bike etc. Also there are car rentals in India. Car Rental in India offers Luxury, Deluxe and cheap & budget car rental services in New Delhi, Agra, Goa, Mumbai and in almost all the big cities of India. Car rentals in India offer variety of cheap car rentals, luxury car hire, coach travel in India, coach holiday packages, discount car rental to put the customers at ease.