Dangers of Automatic Bill Payments On Your Finances

Online Bill PayWe are all busy these days. There are new emails waiting to be checked, Netflix shows to binge watch, Instagram updates from friends of what they had for lunch, or The Donald’s latest tweets to read. With so many things vying for our attention, automatic bill payments can be really appealing. You spend five minutes setting it up, and you never have to see or manually pay another bill again!

With automatic bill pay, you can set up auto payment plans for all your bills. Your utilities, mortgage, phone, internet, cable, auto, or any other regular payments can be automatically deducted from your bank account at your scheduled date, freeing you from missed payments and late fees. But is it a smart idea?

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The Best HSA Provider For Investing Your HSA Money

Best HSA Providers For InvestingThere are many banks, brokerages, credit unions, and insurance companies that are offering HSA accounts these days because 97% of HSA accounts are in cash. All this money sitting in accounts are allowing these companies to make loans with that money to earn more money while only giving you a fraction of interest back in return. With interest rates being so low, those who keep their HSA funds in savings accounts are actually losing money to inflation as health care costs continue to increase each year. This is why it is better to find a provider that lets you invest your HSA savings.

With so many choices, choosing a HSA provider that meets your investment needs can be a little challenging. To help you get started on your search, this is a review on some of the popular HSA providers that allow investing of your funds and their fees.

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Why The HSA Is The Best Investment Tool To Save For Retirement

Using An HSA For RetirementAs open enrollment for the Affordable Care Act begins this month, whether you get your insurance from the Health Insurance Marketplace or through your employer, now is a good time to consider your health insurance options for next year if you haven’t already. You may have seen plans that are listed as HSA-eligible. What many people don’t realize is that HSAs are one of the best ways to save for retirement.

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The Equifax Hacking and What You Need To Do Now

Equifax HackedLast week Equifax announced that up to 143 million people may have had their information compromised in a hack on their website due to an unpatched application. A security review found unauthorized access that occurred from mid May to the end of July, when the security breach was discovered.

Personal information that was accessed included everything from names, Social Security numbers, birth dates, addresses, and even driver license numbers. Some 200,000 consumers also had credit card numbers stolen, and 182,000 had certain dispute documents with “personal identifying information” stolen.

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The Amazing Superpower Of Compound Interest

Snow Covered MountaintopIf you are young or just graduated from college, the last thing on you mind might be saving for retirement. After all, you still have plenty of time right, since retirement is still over 40 years away. Wrong. The best time to start saving for retirement is right now.

Yes, you could start saving in five or ten years and live it up in your twenties traveling and going out every weekend, but it will cost you. It will cost you a lot more than you think because of a phenomenon called compound interest.

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