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.

Boho Is Back, Conscious, Holistic Fashion!

Funky and chill, free spirited Bohemian fashion, conscious design that is holistic and now more necessary than ever. Patchwork gypsy skirts and hippy yoga pants, embroidered caftans, colorful tribal, paisley prints and chunky bead jewelry are totally in style. With a resurgence of design styles and fashion icons ramping up its popularity, bohemian hippy chic fashion is known for its earthy wanderlust roots and relaxed vibe.

Travelers of the old world “Banjara” were gypsy wanderers, who wanted to be different and lived life on their choice set of rules, creating trends and not following a social dictum.The boho lifestyle and clothing is based on the diverse gamut of cultures and patterns with the archetype of mixing and layering clothes, prints and colors. Earthy conscious designs, upcycled vintage fabrics, traditional handloom prints and weaves, the choices are endless. Mix and match Indian chikankari tunics with cutout ragged jeans! Georgette tunic dresses as beach cover ups, or use the white shift dresses for yoga and meditation, adding on accessories like the earthing malabeads and copper bracelets, seeking nature and connecting to mother earth.

The boho style sees Priyanka Chopra donning a cute cutout midi dress in tie dye at the country festivals, the Boho vibe is casually chic and elegant. Mylie Cyrus wears the colorful bohemian sari mini skirt with a white blouse tucked in at the waist.
The newer side of this trend has moved onto a “hippie-luxury” style with fashion designers creating earthing luxury style collections overflowing with old style fabrics full of passion and tranquil colors. The dreamy bohemian fashionista plays with long maxi skirts, soft flirty tunic caftans, embroidered dresses and earthy stonewashed fabrics.

The ultra modern Bohemian grounds herself to Mother Earth, rejoicing in her love and radiates confidence through her choice of earthy colors. The style manifests in the romance of original tribal art with pure cotton and ethical fabrics. Upcycled saris made into skirts and dresses, the fun and playful look is easy to accessorize and you create a fashion statement like no other as these are so unique and one of a kind.

Street style bohemian can be funky or chic, the gauzy printed maxidress is good for all seasons. Sandals and a hat for the summer or add a light jacket and booties for cooler days. The authentic tribal patchwork design skirts and boho vintage pants contrasts with the bold black tank, mixing bohemian with city chic. Be a glamorous fashionista, create your own style – conscious, holistic, earth friendly and in tune with nature, using clothing artisan created and unique.
Be a Boldly Mogul Bohemian Fashionista!

Owning a Car Vs Using Rideshare

It is not a secret that buying, owning, and maintaining a car costs a significant amount of money. Especially now, when gas prices are high and continue to increase. What if you could avoid paying as much as you do right now? Even while still getting to where you need to go?

Many city dwellers can. In fact, many people from Chicago are already dumping their vehicles and becoming reliant on rideshare. Current research has shown that it is in fact cheaper to use services such as Uber and Lyft in cities including Chicago, Los Angeles, New York, among others.

However, some people are hesitant to use these services due to all of the negative news stories reporting violent crimes involving drivers of such services. However, some services such as Uber are introducing safety features to help riders feel more comfortable reaching someone in case of emergency. It also helps hold drivers accountable by creating a stronger sense of authority, of being watched.

There are many benefits to using these rideshare services in bigger cities. In bigger cities drivers tend to have to pay to park their vehicles in addition to other typical costs such as gas, repairs, affordable auto insurance, etc.

On the other hand, some reports say that the cost of using rideshare will not be cheaper than owning a car until 10 years from now. But, it just depends what is best for the individual budget. In fact, news sites have even developed calculators to see if ridesharing is beneficial to your budget. Another detail that the calculator includes is the cost of time. A detail often overlooked by the monetary costs of things, but a detail equally, if not more valuable to people.

Additionally, there are options to “pool” with other rideshare users to eliminate even more costs. This option is not always the best depending on the intentions of your trip, but can be especially helpful for the commute to work, for example.

The increase in regular rideshare users creates another problem, unfortunately. The amount of cars picking up passengers has disrupted the flow of traffic in certain regions of the city, especially in Chicago. They have even increased fines of traffic violations.

The tickets and gas prices also seem to be turning away some drivers as they pay out of pocket for each item, in addition to possible rideshare insurance. But, drivers who discover that there is a growth in the city population using their services may attract attention to drivers hoping to make more money.

This then creates an issue for rideshare companies who are already struggling to pay their workers. Companies such as Uber who are providing benefits to European drivers, the costs will not go down anytime soon for them.

Overall, it may benefit the individual to utilize rideshare instead of owning a personal vehicle. But, there are many factors to take into account before switching over, both personally and the industry in whole. Rideshare is undoubtedly a hot topic at this time and does not appear to be dying down anytime soon.