Finance Xpress

The Milestone® Mastercard® is ideal for people with low credit who don’t want a secured credit card. Could it be right for you?

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When it comes to building–or rebuilding–your credit, the right card can go a long way toward helping you. However, there are few credit cards available to those with poor credit. There are even fewer that don’t require a security deposit.

If you have poor (or no) credit and want to get a credit card designed to help you begin moving forward, the Milestone® Mastercard® can help. However, it’s important to note that there might be other credit cards that are better for your situation.

What is the Milestone® Mastercard®?

The Milestone® Mastercard® is an unsecured credit card issued by the Bank of Missouri. It’s designed for those with poor credit. Just about anyone can qualify for the card, with a minimum credit limit of $300. You might qualify for a higher limit, but for those with very poor credit, there’s a good chance you’ll have the lower limit.

Related: A DIY Guide to Rebuilding Your Credit Score

You might be denied other unsecured credit cards if you have poor credit, and you may need to make a security deposit to get approved for a secured card. The Milestone card attempts to bridge that gap by providing an unsecured card for those with bad credit.

Milestone® Mastercard® Features

This credit card is fairly straightforward, without many bells and whistles. It’s designed for those with poor credit, so there aren’t a lot of opportunities for perks.

• Doesn’t require a security deposit: Many credit cards aimed at those with poor credit require a refundable security deposit. You don’t need a security deposit with the Milestone® Mastercard®.
• Qualify with bad credit: Even if you have bad credit, there’s a good chance you’ll be able to get this card.
• Choose your card design: You can pick from a variety of designs, allowing you to customize your card.
• Mastercard benefits: Because this is a Mastercard, you do have access to protections like extended warranty, $0 fraud liability, and other benefits common to Mastercard.

As you can see, features like rewards programs and 0% APR balance transfers are not available with the Milestone® Mastercard®.

Related: Best Credit Cards for Poor Credit

Fees and Interest Rate

When you apply for the Milestone® Mastercard®, your information will be taken into consideration, and you’ll be assigned a credit card based on your situation. Make sure you understand which of the following four main options for the Milestone® Mastercard® you’re assigned:

1. Annual fee of $75 for the first year, with a fee of $99 each following year
2. Annual fee of $59
3. Annual fee of $35
4. Account set up fee of $25, with a fee of $50 for the first year and $99 annual fee each year following

You don’t have a choice regarding which card you end up with. Additionally, note that fees are assessed before you use your card and deducted from your balance. So, if you have a $300 credit limit, you could start out, practically speaking, with only $225.

The interest rate for all Milestone® Mastercard® accounts is 24.9% APR. The cash advance APR is 29.9%. This is also the penalty APR, which is applied after your first late payment.

Related: Best Low Interest Credit Cards

How to Apply for the Milestone® Mastercard®

Before you fill out the final application, you can get pre-qualified for a card. As with other credit cards, you need to fill in a form sharing your:

• Name
• Email
• Address
• Social Security number
• Birthdate
• Phone number

It only takes a few moments for Milestone to process your pre-qualification information. Once that’s done, you’ll see the terms associated with the credit card you’re pre-qualified for. Even though you’ve been pre-qualified, it’s important to note that you might not receive final approval. However, this step gives you an idea of what you might be able to get.

Once you review the terms, you fill out the final application, which includes your monthly income and expenses, and your card design selection. You can also choose over-the-limit coverage, which comes with a fee of $38.

After that’s done, you submit your application. If the bank needs more information, they might call you to verify your income or to ask you to submit other documentation.

Related: Prepaid Credit Card To Build Credit

Security

As expected, you have access to bank-level security and encryption when you use the website.

Mobile Support

Right now there isn’t a mobile app. However, you can create an online account and manage your Milestone® Mastercard® from there. You can schedule payments, check your balance, and request a credit limit.

It is possible to use your mobile device’s browser to navigate to the website and your account. However, you might not be able to see the webpage as well on the smaller screen.

Customer Service

Milestone offers a FAQ you can use to get answers to most common questions. Milestone® Mastercard® encourages cardholders to use their online accounts to manage most customer service related issues, including activating your card when it arrives.

There is a customer service number you can call from 6:00 am to 6:00 pm Pacific, seven days a week: 1-800-453-2636.

Pros & Cons

Before applying for this card, make sure you understand the pros and cons available. With the Milestone® Mastercard®, there’s a good chance you’re better off using something else.

Alternatives

Instead of using the Milestone® Mastercard®, there are other options that provide better results. Even if you get a secured card, you could be better off. You’ll get your security deposit back, and there are some great options with no annual fees.

Capital One® Secured Mastercard®

Capital One offers a secured card that allows you to get a $200 credit line with a $49 security deposit. If you want a higher credit limit, you make a higher security deposit. Plus, the Capital One® Secured Mastercard® comes with no annual fee, and will raise your credit limit after making your first five monthly payments on time.

Discover it® Secured

With this card, you need to make a security deposit equal to your desired credit line. However, after the first months, Discover will review your credit and determine whether it makes sense to automatically switch you to an unsecured card. There is no annual fee, and you also get access to a cash back rewards program with the Discover it® Secured card.

Who is it For?

This card is ideal for someone who doesn’t want a secured credit card, but is having trouble qualifying for an unsecured credit card.

One of the best things you can do is use the card responsibly, and after a few months see if your credit has improved enough to allow you to qualify for a different unsecured card–one without an annual fee.

Bottom Line

The Milestone® Mastercard® really isn’t the best choice out there for those with poor credit. If you can’t afford a large security deposit, the Capital One® Secured Mastercard® is a better choice because you can get close to the same spending power with a $49 deposit–which is cheaper than the fees you’re likely to pay with most options from Milestone.

A secured credit card is just as effective at helping you rebuild your credit, and you can usually find one without the expensive fees.

Apply Now

Topics: Credit Cards • Reviews

The post Milestone® Mastercard® Review – Build Your Credit with an Unsecured Card appeared first on The Dough Roller.

via Finance Xpress

Are you thinking about saving money on airfare by flying with budget airlines such as Allegiant, Frontier, or Spirit Airlines? Here are my tips to find cheap plane tickets and the best flight deals.

Recently, Wes (my husband) took a couple of last minute flights to visit family and we booked his flights on budget airlines. I had first started looking for flights like I normally do, with traditional airlines like American, Delta, and Southwest. But, everything was super expensive because we were booking last minute.

Then, I got the idea to look at some of the budget airlines, such as Allegiant, Frontier, and Spirit so that we could save some money.

I found a super affordable flight on Allegiant, AND it was direct. Whereas all of the expensive flights had multiple stops and would take all day.

My first thought was that something had to be wrong since the price was so low, so I asked around to see if these discount flights were the real deal.

I had numerous people tell me not to do it, but I had more people tell me that these cheap plane tickets were too good to pass up.

Well, I bought the Allegiant flights, and it went well. Then he flew again a few weeks later, and he used Allegiant again.

Despite my concerns, everything was fine! The flights all arrived on time, and we were able to save hundreds of dollars (not to mention he saved hours with each flight because they were all direct!).

And, you've probably seen this as well. You've probably searched for flights and have seen huge price differences. Allegiant, Frontier, and Spirit tend to offer super cheap pricing, like unbelievably cheap plane tickets. A ticket on a normal airline may be $200+ each way, and the low-cost airlines may only cost $40.

Examples of random flights I found through budget airlines:

• Austin, Texas to San Juan, Puerto Rico for $70 on Spirit Airlines.
• Fort Lauderdale to Cincinnati for $48 on Allegiant Airlines.
• Los Angeles to Las Vegas for $25 on Frontier Airlines.

So, what's the catch?

There's got to be a catch, right?

Well, there are things that you should know when it comes to flying a budget airline. Whether you travel full-time or if you're looking for an occasional flight, you probably are looking to save money on your flight!

Related content:

• Here’s How To Save Thousands For Your Next Vacation
• How To Travel On A Budget And Still Have The Time Of Your Life
• How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included

As I quickly learned, budget airlines, such as Allegiant have a lot of random fees. Or, at least they felt random to me since we have only ever flown on major airlines such as American Airlines, Delta, and Southwest.

Since I am who I am (a personal finance nerd), I did as much research as I could so that there wouldn't be any unexpected surprises before Wes flew. After all, I didn't want this flight to cost more than one with a “normal” airline that we are used to! I also didn't want any additional hassles or confusion.

Helping you save money on airfare while also helping you avoid confusion or stress is exactly what I want to help you with today. So, I’m going to cover flying Allegiant Air tips, flying Frontier Airlines tips, advice for other budget airlines, and more. 

There are low cost airlines all around the world. Many of these tips will apply to those budget airlines as well. 

6 tips for saving the most money on airfare with a budget airline

 

1. Those add-ons, add up!

When booking with budget airlines, it’s key to remember that they make a lot of their money with add-ons. So, while $5 here and $10 there may not seem like a ton, it can add up easily if you are doing it for roundtrip flights and/or for a whole family.

Here are some of the most common add-ons you’ll find with cheap flights:

• Carry-on bags (you may pay double for these if you pay the day of your flight)
• Checked baggage fees (also sometimes double if you wait until you’re at the gate)
• Extra leg room, or “stretch” fees
• Selecting a “standard” seat when you book
• Cancellation fees
• Change fees
• Extra charge to bring a pet
• Unaccompanied minor fees

The best way to easily save money with low cost airlines is to know about all of the add-ons in advance. This will help you avoid any fees you don’t want to pay for.

If you accepted every add-on that they charge, you may end up paying more than a normal airline ticket.

By knowing about all of the add-ons and fees, you can keep your cheap flights super cheap and not encounter any surprises!

To keep it simple, try to think of it like this – the airfare you purchase is simply a seat on a plane that is going to the destination you want. Anything beyond just a seat will most likely come with a fee. This can include the things above, even water, your specific seat location, and more. I will go more in-depth below.

 

2. Watch your baggage.

Depending on which budget airline you choose, you'll probably be charged for your baggage, even if it's a carry-on. And, the amount that you pay can depend on whether or not you tell them and pay in advance (such as when you purchase your airfare).

With most of the bigger airlines, you're probably used to getting a free carry-on item. But, that's not the case with most budget airlines – many of them charge for carry-ons. Because you’ll have to pay for your carry-on item and your checked luggage with discount flights, you’ll most likely want to pack light in order to save the most money.

Here is sample pricing of what budget airlines may charge:

• Frontier Airlines- On a flight from Los Angeles to Las Vegas, Frontier Airlines will charge $35 for a carry-on bag if you pay for it when you’re booking your flight. But, it goes up in cost after that. If you pay for your carry on at the airport kiosk, the price goes up to $55. If you wait until you're at the airport boarding gate, the fee is $60.
• Allegiant Airlines- On an Allegiant Airlines flight from Fort Lauderdale to Cincinnati, you will pay $20 to bring a carry-on bag if you do it when you’re booking your airfare. If you pay for your carry-on item after the booking but before you get to the airport, the price goes up to $45. If you wait until you're at the airport boarding gate, the fee is $50.
• Spirit Airlines- For a flight from Austin, Texas to San Juan, Puerto Rico, Spirit Airlines charges $38 for a carry-on bag if you pay for it when you’re booking your flight. If you pay for your carry-on after you have booked your flight but before you get to the airport to leave, it will cost $48. If you wait until you're at the airport boarding gate, the fee is $65.

And, you'll want to watch the weight on your bags. If your bags weigh more than a certain amount, you'll be charged for that too.

 

3. Drinks may cost money, even water.

While you may be used to a more traditional airline offering you a free non-alcoholic beverage, that probably won’t be the case with a low cost airline.

When I was looking up flying Frontier Airlines tips and tips for other budget carriers, I learned that Frontier charges $2.99 for water. Allegiant charges $2 for water and soda, and Spirit charges $3 for each of them.

Like most traditional airlines, budget airlines have lots of drinks to choose from, and they also have lots of snacks too. On many of the budget airlines, they sell “bundles” with drinks and snacks at a discounted price.

What I recommend doing so that you can save the most money is to bring a reusable water bottle to the airport and fill it up before you get on your flight. You can also pack food from home (as long as it’s not liquid) so that you can eat food on your flight while not paying a ton for snacks.

 

4. Choosing your seat will cost you.

If you choose a seat for your flight, then you'll most likely pay more for it. The fees vary and is dependent on the seat you choose. One of the flying Allegiant Air tips I found was that the fee you pay for changing your seat can change from day to day, and this is the same for many of these discount flights.

To save money, simply don't pick a seat. You'll be assigned one at check in. You will also save yourself some stress trying to figure out which day of the week is going to be the cheapest to pick a seat.

 

5. Have your boarding pass ready.

This is a helpful tip for any airline you fly, but it’s especially important if you are flying a budget airline because you may be charged a fee to print your boarding pass at the airport. This printing fee is usually around $5.

To save money, I recommend having your boarding pass ready before you head to the airport – whether that means printing it out or downloading the mobile boarding pass. 

 

6. Buy your airplane ticket at the airport.

Surprisingly, with budget airlines like Allegiant and Frontier, you can actually save money when you buy your plane ticket at the airport.

Yes, this means that you don't book your flight online or by phone – you are physically going to the airline's ticket desk and buying it at one of their ticket counters.

I learned about this in USA Today's article Here's how you can cut airfare for tickets on discount airlines Allegiant, Frontier, Spirit.

To quickly summarize (although, I highly recommend reading the full article), the budget airlines have a fee for booking made online or by phone, and is usually around $20.

This means that you may be able to save $40 on roundtrip flights (instead of being charged a $20 online or phone booking fee for each way). This can add up quickly if you have a big family that you are traveling with.

Now, this can take a decent amount of time to do, as you'll have to go all the way to the airport, probably pay for parking (unless you have someone drop you off and circle around for you when you're ready), and so on.

 

Despite the fees and add-ons, budget airlines can save you a lot of money.

I realize that some of the things I just told you about, like being charged $3 for water or $40 for a carry-on, might make it sound like flying with a budget airline will be a bad idea. But, that’s not the case at all!

Flying with a budget airline is a great way to save money on your travel expenses. For some people, this means they may be able to travel even more. For other people, finding some of the best flight deals with a budget airline will be a way to take trips they couldn’t afford with one of the major airlines.

These airlines look at all the extras they charge for as, well… extras! Not everyone wants or needs extra leg room, to bring multiple pieces of luggage, etc. Instead of charging everyone a little more, they only charge more to the people who want those things.

It’s like going out to eat and eating off of the a la carte menu. 

To summarize everything I talked about, here are my tips for how to make the best of a budget airline:

• Be aware of what airport you'll arrive at. Many of the budget airlines fly into smaller airports near the bigger ones. So, please be mindful so that you aren't completely lost or confused when you land.
• If you do want any extras, pay for them when you book your flight, not when you get to the airport. This will usually save you the most money.
• Don't pick your own seat.
• Bring your own boarding pass.
• The cheapest way to fly on a budget airline is to not choose any of their options and pack really, really light!

Have you flown with a low-cost airline? Why or why not? Where do you go for the best flight deals?

The post Are Budget Airlines Worth It? Here Are 6 Of The Best Tips To Cut Your Costs appeared first on Making Sense Of Cents.

from Making Sense Of Cents


via Finance Xpress

Posted by: Adam McCann

People choose to adopt plant-based diets for various reasons, some ethical, others health-related. According to a 2019 Harris Poll commissioned by the Vegetarian Resource Group, about ten million U.S. adults are vegan or vegetarian.

But finding meatless options at restaurants and supermarkets can be a challenge, depending on where you find yourself hungry in America. And though some experts contend that forgoing animal products could save the average person at least $750 per year, certain specialty foods can be expensive.

Fortunately, many U.S. cities offer plentiful and inexpensive options for budget-conscious herbivores. To determine the best and cheapest places for a plant-based diet, WalletHub compared the 100 largest U.S. cities across 17 key indicators of vegan- and vegetarian-friendliness. We examined each city based on such metrics as the cost of groceries for vegetarians, the share of restaurants serving meatless options and salad shops per capita.

Read on for our findings and a full description of our methodology. If you’re considering a vegan or vegetarian lifestyle, make sure to check out the Q&A with our panel of experts for transitioning advice and money-saving tips.

1. Main Findings
2. Ask the Experts
3. Methodology

Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/39706/geochart-vegetarian.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2PH6oL2>

Most Vegetarian- & Vegan-Friendly Cities

Overall Rank (1 = Best)	City	Total Score	‘Affordability’ Rank	‘Diversity, Accessibility & Quality’ Rank	‘Vegetarian Lifestyle’ Rank
1	Portland, OR	66.55	22	3	8
2	Los Angeles, CA	62.72	20	11	3
3	Orlando, FL	59.74	36	6	20
4	Seattle, WA	57.86	92	4	9
5	Austin, TX	57.69	11	12	34
6	Atlanta, GA	57.52	54	13	5
7	New York, NY	57.30	74	2	32
8	San Francisco, CA	57.10	100	1	2
9	San Diego, CA	56.81	41	7	26
10	Tampa, FL	56.31	70	9	12
11	Scottsdale, AZ	55.83	60	16	7
12	Anaheim, CA	53.09	77	48	1
13	Chicago, IL	52.83	30	20	24
14	Madison, WI	51.66	42	17	28
15	Milwaukee, WI	51.05	27	29	27
16	Washington, DC	49.50	96	8	17
17	Las Vegas, NV	49.32	39	15	40
18	Pittsburgh, PA	48.54	73	26	13
19	Houston, TX	47.87	19	46	37
20	Charlotte, NC	47.59	56	39	19
21	Indianapolis, IN	47.45	23	62	31
22	Minneapolis, MN	47.17	84	25	11
23	Boise, ID	46.99	10	23	57
24	Jacksonville, FL	46.47	66	55	15
25	Dallas, TX	46.40	55	53	16
26	Cleveland, OH	46.03	34	69	18
27	Columbus, OH	45.99	28	72	21
28	Oakland, CA	45.59	99	18	10
29	Nashville, TN	45.58	43	47	36
30	Durham, NC	45.46	64	64	4
31	Kansas City, MO	45.36	57	61	25
32	Miami, FL	45.18	79	5	69
33	San Jose, CA	44.75	98	32	6
34	Baltimore, MD	44.01	81	54	14
35	Honolulu, HI	43.92	97	10	22
36	Fort Wayne, IN	43.77	3	79	78
37	Anchorage, AK	42.65	80	59	29
38	Cincinnati, OH	42.59	17	31	73
39	St. Paul, MN	42.33	16	43	56
40	Oklahoma City, OK	42.32	49	73	35
41	Boston, MA	42.28	94	36	30
42	Denver, CO	42.25	67	14	65
43	Mesa, AZ	42.07	9	60	59
44	Lincoln, NE	41.95	6	85	48
45	Phoenix, AZ	41.87	35	24	68
46	Irving, TX	41.32	5	89	53
47	Buffalo, NY	41.07	63	40	44
48	New Orleans, LA	40.62	83	37	38
49	Sacramento, CA	40.52	89	19	52
50	Gilbert, AZ	40.47	60	42	46
51	Chandler, AZ	40.44	65	41	49
52	Louisville, KY	40.23	24	44	74
53	Detroit, MI	40.20	13	92	41
54	Bakersfield, CA	40.13	32	38	98
55	Lexington-Fayette, KY	39.81	12	65	70
56	Lubbock, TX	39.68	8	71	98
57	Long Beach, CA	39.63	82	50	39
58	St. Louis, MO	39.51	52	27	75
59	Albuquerque, NM	39.26	72	49	45
60	Colorado Springs, CO	37.30	62	57	60
61	Norfolk, VA	37.19	25	68	71
62	Glendale, AZ	36.79	69	70	51
63	Garland, TX	36.64	7	98	54
64	Aurora, CO	36.56	14	94	50
65	Birmingham, AL	36.55	26	34	88
66	Tucson, AZ	36.54	58	28	94
67	Jersey City, NJ	36.10	44	96	42
68	Reno, NV	36.06	87	30	62
69	Philadelphia, PA	36.06	78	45	63
70	Raleigh, NC	36.01	51	58	67
71	San Antonio, TX	35.99	21	66	84
72	Fremont, CA	35.95	95	86	23
73	Irvine, CA	35.92	90	33	58
74	St. Petersburg, FL	35.83	85	35	61
75	Omaha, NE	35.60	50	56	81
76	Hialeah, FL	35.41	45	90	43
77	Chula Vista, CA	35.31	33	78	66
78	Plano, TX	35.25	68	81	55
79	Fresno, CA	35.06	46	22	96
80	Riverside, CA	34.91	88	21	80
81	Arlington, TX	34.90	18	95	64
82	Wichita, KS	34.60	31	80	82
83	Virginia Beach, VA	34.28	59	67	77
84	Newark, NJ	33.73	93	97	33
85	Corpus Christi, TX	33.38	2	93	93
86	Santa Ana, CA	32.84	91	75	47
87	Toledo, OH	32.80	4	83	83
88	Chesapeake, VA	32.62	47	91	72
89	Fort Worth, TX	32.62	38	88	76
90	Laredo, TX	32.54	1	100	98
91	Memphis, TN	32.14	37	84	85
92	Tulsa, OK	32.01	29	76	87
93	Stockton, CA	31.63	53	51	97
94	Winston-Salem, NC	30.23	40	77	91
95	Henderson, NV	29.75	75	74	90
96	Baton Rouge, LA	28.75	76	63	92
97	North Las Vegas, NV	27.87	15	99	89
98	Greensboro, NC	27.34	48	52	95
99	San Bernardino, CA	26.94	86	82	79
100	El Paso, TX	25.80	71	87	86

Ask the Experts

Cutting meat from your diet requires commitment and, in some cases, extra cash. To help you switch successfully to a vegan or vegetarian diet while sticking to your budget, we asked a panel of experts to share their thoughts on the following key questions:

1. What tips do you have for someone who wishes to adopt a vegetarian/vegan lifestyle while on a budget?
2. Should government subsidize the purchase of fruits and vegetables by discounting the price for people using food stamps?
3. What can parents do to encourage children to consume more veggies?
4. What tips do you have for someone who wishes to become a vegetarian? How can the transition be made smoother?

< >

• Brie Turner-McGrievy Ph.D., MS, RD, FTOS – Associate Professor, Department of Health Promotion, Education, and Behavior, Deputy Director, TecHealth Center, University of South Carolina; Arnold School of Public Health
• Joycelyn Peterson DrPH, MPH, RDN – Director, Nutritional Sciences Program, Morgan State University
• Maureen McCoy MS RD – Nutrition Undergraduate Degree Coordinator, Lecturer of Nutrition, Arizona State University, College of Health Solutions
• Cindy Fitch Ph.D., RD – Associate Dean for Research, West Virginia University Extension Service

Methodology

In order to determine the best cities for vegans and vegetarians in the U.S., WalletHub compared the 100 most populated cities across three key dimensions: 1) Affordability, 2) Diversity, Accessibility & Quality and 3) Vegetarian Lifestyle.

We evaluated those dimensions using 17 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for vegans and vegetarians. For metrics marked with an asterisk (*), we calculated the population size using the square root of the population in order to avoid overcompensating for minor differences across cities.

Finally, we determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample. In constructing our sample, we considered only the “city proper” in each case and excluded surrounding cities in the metro area.

Affordability – Total Points: 33.33

• Cost of Groceries for Vegetarians: Full Weight (~11.11 Points)Note: “Groceries” excludes all animal products, except dairy and eggs.
• Availability of Affordable, Highly Rated Restaurants Serving Vegan & Vegetarian Options: Full Weight (~11.11 Points)Note: “Highly Rated” refers to a rating of at least 4.5 stars.
• Average Meal Cost: Full Weight (~11.11 Points)Note: This metric was calculated using the following formula: Average Dollar Amount Spent on Food per Week by Food-Secure Individuals / 21 Meals (three meals per day X seven days per week).

Diversity, Accessibility & Quality – Total Points: 33.33

• Share of Restaurants Serving Vegetarian Options: Full Weight (~3.33 Points)
• Share of Restaurants Serving Vegan Options: Full Weight (~3.33 Points)
• Farmers Markets & CSA Programs per Capita*: Full Weight (~3.33 Points)Note: “CSA” refers to community-supported agriculture.
• Certified Organic Farms per Capita*: Full Weight (~3.33 Points)
• Juice & Smoothie Bars per Capita*: Full Weight (~3.33 Points)
• Salad Shops per Capita*: Full Weight (~3.33 Points)
• Vegetable Nurseries per Capita*: Full Weight (~3.33 Points)
• Community Gardens per Capita*: Full Weight (~3.33 Points)
• Access to Fresh Vegetarian Food*: Full Weight (~3.33 Points)Note: “Fresh Vegetarian Food” refers to vegetable, melon, potato, sweet potato, fruit, tree-nut, berry and cow-milk production per capita.
• Vegetarian Cooking Classes per Capita*: Full Weight (~3.33 Points)

Vegetarian Lifestyle – Total Points: 33.33

• Ranking on GrubHub’s List of Cities Most Likely to Order Vegetarian or Vegan: Full Weight (~8.33 Points)Note: This metric was used as a proxy for the vegetarian population and is based on GrubHub’s data analysis of “more than 30,000 restaurants’ pickup and delivery orders” to determine where customers are most likely to order vegetarian or vegan options.
• Vegetable & Fruit Consumption: Full Weight (~8.33 Points)Note: This metric measures the share of adults who consumed vegetables and fruits one or more times per day and was used as a proxy for the vegetarian population. A lower share of adults who consume fruits and vegetables daily indicates a lower probability of vegetarian prevalence.
• Vegan & Vegetarian Meetups per Capita*: Full Weight (~8.33 Points)
• Availability of Vegan & Vegetarian Festivals: Full Weight (~8.33 Points)Note: This binary metric considers the presence or absence of vegan and vegetarian festivals, as follows:
  • 1 – The city hosts a vegan and vegetarian festival.
  • 0 – The city does not host a vegan and vegetarian festival.

Videos for News Use:

• YouTube (for web embedding National)
• YouTube (for web embedding Portland, OR)
• Raw files (for editing into clips)

Sources: Data used to create this ranking were collected from U.S. Census Bureau, Council for Community and Economic Research, Centers for Disease Control and Prevention, Feeding America, Yelp, TripAdvisor, USDA Organic INTEGRITY Database, The Trust for Public Land, United States Department of Agriculture, GrubHub, Meetup and Vegan.com.

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We know from the data that investing in passive index funds over active funds over the long run is the way to go. Over the long run, no rational person would keep on investing in an active fund that regularly underperforms its benchmark, especially if it charges a higher fee.

Yes, despite the logic, active equity funds still account for about 50% of the entire assets under management of all funds. The simple reason is that a minority of active equity funds do outperform their benchmarks. And when they do, there’s hope. We, humans, live on hope.

In this post, I’d like to review the percentage splits for retail investors and passive funds and active funds/individual stocks. I’ll discuss what type of person is appropriate for each of the four splits.

Please do not confuse the percentage split between passive and active investing with asset allocation between stocks, bonds, and other risk assets.

Recommended Split Between Passive And Active Investing

100% Passive / 0% Active: 100% passive is for those of you who don’t care about outperforming the benchmarks and who are happy getting rich slowly. You are unwilling to take any chances outperforming the benchmark if it means risking underperforming the benchmark.

You could give two craps about where the portfolio manager and analysts went to school and their investment track record. Further, you’re a busy professional and/or parent who has no interest or time in following the stock market. Your expertise in making money lies elsewhere.

You love the K.I.S.S. motto when it comes to investing because you’d rather never think about your money. You have so many more important things you want to do with your time. You believe the primary way you will reach financial independence is through steady investment contributions over time.

75% Passive / 25% Active: You want to get rich quicker than the average person and are therefore willing to take more risks. You believe you can choose the right funds and the right stocks that will help give your overall investment performance a boost each year.

You are a rational investor who also enjoys following the markets. You’re willing to recognize market trends. You may have a slight edge in a particular sector due to your occupation. If an emerging trend seems obvious, you’re willing to invest in a sector fund or invest in individual stocks that should benefit from said trend.

At the same time, you also realize that consistently outperforming your target benchmarks over the long run is impossible. Therefore, you keep three times more assets in passive index funds. Your active investments are in mostly sector ETFs instead of individual stocks.

50% Passive / 50% Active: A 50% active percentage is the highest percentage I recommend for all equity investors. We know that the average investor only returned 1.9% a year between 1999 – 2018, according to J.P. Morgan Asset Management. The average investor trades too much, buys too high, and sells too low. The average investor is an emotional wreck. As a result, the average investor would do best to protect oneself from oneself by investing in mostly passive index funds.

Despite the data, we all suffer from a little Dunning-Krueger (delusion). For those of you who have at least 20 years of investing experience, who have at least beaten your target benchmark for at least 10 years, and who simply love the process of investing, a 50/50 split may be appropriate for you.

A 50/50 split might also be appropriate for younger investors (<30 years old) who don’t have as much to lose. It’s best to learn with less money whether you are a good active investor or a bad active investor. If you find yourself to have investing acumen, you can gradually build up the absolute dollar amount and percentage.

<50% Passive: You’re a professional money manager who picks stocks for a living. You’re also required to have skin in the game by investing a percentage of your bonus or salary into your fund. This way, you feel the pain of your losses and the glory of your wins. Many hedge funds require its employees to invest this way.

You’re also someone who loves everything about the stock market. Investing doesn’t give you stress. It brings you joy. Investing actively is also helped if you are financially independent or have another means of generating a regular amount of cash flow way beyond your living expenses. For example, you might operate a highly profitable lifestyle business or have a massive trust fund.

Since most of us are not professional money managers, trust funders, or have highly profitable lifestyle businesses, I don’t recommend having less than 50% of your investments in passive index funds.

My Active / Passive Investing Split

Since 1996, when I opened up my first online brokerage account with Ameritrade, my greatest wins and my greatest losses have all come from investing in individual stocks. As a young man, I didn’t mind my big losses because the absolute dollar amounts lost weren’t very big.

From 1996 – 2009, I predominantly invested in individual securities. After all, I worked in international equities business at two major investment banks. My income was growing and I felt I had an edge.

But after the financial crisis, my desire to make money quickly dissipated because I had lost so much money. My desire to protect my capital and avoid experiencing as much financial pain came to the forefront. Further, I had started thinking about ways to escape finance since it was no longer fun.

Today, my split is roughly 75% Passive / 25% Active. I continue to own a bunch of individual tech stocks for the past 10+ years. Owning Bay Area real estate and tech stocks were my main two ways of participating in the tech boom because I was too untalented to get a job at a growing tech company.

After all these years, I still enjoy following all the economic, political, and company-specific news that could affect share prices. However, as a dad to a toddler now, I no longer have the time to analyze cash flow statements and get onto quarterly management conference calls.

I like the combination of having a core S&P 500 index fund, some sector ETFs, and individual stock names. It’s my “Passive Plus” strategy.

I also sold my actively managed SF rental property in 2017 that was giving me nightmares. 35% of the proceeds were invested in dividend ETFs, 35% was invested in California municipal bond funds, and was invested 30% in real estate crowdfunding. It feels great to earn income passively.

My main financial goal in my 40s and beyond is to protect the capital I’ve accumulated. I also want to buy as much time as possible. If I can grow our net worth by 5% a year without any stress, I’ll be happy. To do so, I’ve been more focused on the appropriate asset allocation split between stocks, bonds, cash, and alternative investments.

I know there’s a lot of talk about passive investing being in a bubble. But the vast majority of people should still have the vast majority of their investments in passive investments. There will eventually be another correction and I’m sure the majority of actively run funds will correct even more when the time comes.

Investing mostly in passive funds doesn’t mean you should be a zombie and just invest 100% in a particular passive equity index fund. You’ve got to diversify your investments to match your specific financial goals and risk tolerance. You should also review your investments at least once a quarter.

Find a way to get rich slowly through passive investing and find multiple ways to get rich slowly through active investing. You can and will be able to accelerate your wealth by taking actions. But it’s up to you to find the right balance.

Readers, what is your split between passive and active investing and why? What are your investment goals?

The post The Recommended Split Between Passive And Active Investing appeared first on Financial Samurai.

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According to the Kaiser Family Foundation, the average cost of family health insurance offered by companies is now a whopping $20,576 a year, or $1,714.66 a month. Employers paid for 71% of that cost on average.

Meanwhile, the average premium for single workers was $7,188 a year, or $599 a month. Employers covered 83% of that cost on average.

The KFF surveyed over 2,000 companies.

If they had asked us what we paid, we would have brought up the average because our health insurance cost is jumping by 7% to $23,131.38 a year, or $1,927.64 a month for a family of three! Previously, we were paying “only” $21,788.88 a year, or $1,815.74 a month.

With one child we have a PPO Platinum plan with a $250/$500 deductible (single/family), a $3,200/$6,400 out-of-pocket max (single/family) and 80% co-pay insurance.

The Average Cost Of Health Insurance Is Unsustainable

Despite workers’ earnings rising roughly 26% from 2009 to 2019, healthcare deductibles rose by 162% over the same time span. In other words, employees are getting squeezed. It is only logical that companies not pay employees as much if they have to pay for ever-increasing benefits.

Below is a list of other items that have inflated quite drastically over time. If you want to save on costs, then you should stay as healthy as possible, don’t go to college, don’t have kids, and be a homeowner.

Out of curiosity, I asked our healthcare agent how much our healthcare premiums would go up if we had a second child. He said adding a second dependent under age 15 to our PPO Platinum plan would cost an extra $440 a month for a total of $2,360 a month or $28,320 a year!

Using a 25% effective tax rate, our family needs to earn $37,760 a year just to pay for our healthcare premiums. Using a 4% return or withdrawal rate assumption, we would need to accumulate or allocate $944,000 in investments to cover our healthcare premiums if we continue to stay unemployed.

If you don’t think you need at least $2 million to retire early with kids, you are seriously fooling yourself. The math doesn’t lie folks. $1 million needs to be set aside for healthcare costs that are growing by 5% – 7% a year. The other million is used to pay for basic living expenses.

Healthcare costs are going to be your largest unavoidable expense. You can save on tuition by just going to public grade school and public university. Housing costs can be controlled if you pay off your mortgage or relocate to a lower cost area of the country. But there’s nothing you can do about runaway healthcare expenses unless you retire in or near poverty in order to get subsidized healthcare.

Analyzing Our Health Insurance

Given both my wife and I don’t have employers to subsidize our healthcare expenses and we earn more than 400% of the Federal Poverty Limit ($83,120) from our retirement portfolio, we do not qualify for goverment healthcare subsidies either.

Once my wife stopped working in 2015, we decided to just get the best plan possible so we could minimize health insurance headaches and rest easier knowing we can get the best possible care. However, healthcare costs are now starting to push the upper limits of our comfort zone.

One solution to lower our healthcare cost is to downgrade from a Select Plus PPO Platinum plan to a Select Plus PPO Gold plan to save roughly $160 a month in premiums. However, if we do so, our out-of-pocket max rises from $6,400 to $12,000.

Given we have a 2.5-year-old, we still don’t know for sure how his overall health will be. So far he’s doing OK, but we won’t really know until maybe after he’s five years old what other health issues he may have.

Further, if we have a second child, having our current plan saves us more money given the lower out-of-pocket max and 80% co-insurance. You can’t just get a better plan to cover a big healthcare expense and then downgrade to save on premiums once that expense is covered the next month. These plans are year-long contracts.

We analyzed this comprehensive list of family healthcare plans arranged by price. You’ll have to zoom in on the graph to see the details. I’m curious to know which plan you’d choose and why if you are a relatively healthy family of three with no chronic illness or pre-existing conditions. Your child is 2.5-years-old and you may have a second child.

The Core PPO Platinum plan seemed like a great alternative, but our agent informed us it has a much smaller network of doctors which excludes some of our current doctors. We’d also have a similar problem of a smaller network of doctors if we switched to an HMO plan, and would require PCP referrals for specialist care, exams and tests.

How Do Retirees Afford Healthcare?

I’ve been scratching my head a lot, wondering how other early retirees / long-term unemployed afford healthcare insurance. Therefore, I went and asked a bunch of people and this is what they said:

1) Have you looked into Liberty Health Share? It’s a Christian based plan. It’s equivalent to a PPO with a $2250 deductible/ max out of pocket for only $499 a month for my family of four! I’ve had it for four years and love it.

2) I have Liberty Health Share as well. Last year we had our first child and paid only a 1,500 deductible. It was amazing. What impressed me from the very beginning was you could get a person on the phone right away and they actually cared and tried to help you with whatever you were calling about.

However over the past 6 months or so the service has gone downhill. They no longer try to pay claims within 60 days and sometimes it seems like it’s an absolute nightmare to get them to do their jobs. Still it’s better than I remember from Blue Cross Blue Shield so we are holding on and hoping things get better again.

Note: Dealing with insurance companies who may not pay the claims is the nightmare I’m trying to avoid by getting a better healthcare plan. I really don’t have the time or desire to deal with insurance BS.

3) My wife works and we are all on her company’s healthcare plan. We pay about $550/month for our family of three for a Gold-level plan. Our estimated net worth is $2.5 million.

4) Both of us are retired and live off about $38,000 a year from our $2 million investment portfolio and part-time work. We live in a very low cost area of the country where you can buy a house for $250,000. We are a family of five and qualify for tremendous healthcare subsidies given our income is only 130% of the Federal Poverty Limit. We pay less than $120 a month for a Bronze health plan under the ACA. Our deductible is $15,000.

5) We are a childless couple who live on about $28,000 a year. Our portfolio is about $1.1 million and we live in a middle-to-higher cost area of the country. My wife has a pre-existing condition that requires constant medical supervision. Our household income is at about 150% of FPL, so we only have to pay about $3,200 a year for our health insurance under ACA. We make an extra ~$10,000 a year in side income working online.

6) We started a business so that we can deduct our health insurance costs. Our business income comes from doing various consulting work online and offline. Last year we pulled in roughly $40,000 of consulting income and deducted $24,000 of health insurance expenses for the three of us. Effectively, we’ve lowered our health insurance expenses by roughly 20%. We also make roughly $90,000 a year from our various investments.

For most retirees, the solutions to comfortably afford healthcare insurance are to either get on your working spouse’s healthcare plan or earn 200% or less of the Federal Poverty limit to get tremendous subsidies from the government. Even earning between 300% – 400% of FPL, you’re only required to pay at most 9.86% of your gross annual income to healthcare premiums under the ACA.

The high cost of healthcare also makes me wonder whether more workers will be hesitant to retire early as well. I guess so long as you’re willing to earn less than 400% of FPL in retirement, healthcare is manageable.

Unless we want to incur a tremendous tax bill by selling our income-generating assets, the only way our family can immediately reduce our health insurance expense is if at least one of us goes back to work. If the new employer pays 71% of the annual cost, then we would be getting a healthcare subsidy of $16,423 a year or $1,368 a month.

It might very well be time to dust off the old resume!

Readers, how much do you pay for health insurance a month and how much does your employer pay? Do you think it’s morally OK to get healthcare subsidies if you are a millionaire? If you don’t work, how do you afford such egregious healthcare costs?

The post The Average Cost Of Family Health Insurance Is Now Outrageously High appeared first on Financial Samurai.

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Whether you consider yourself “unbanked” or “self-banked”, the Netspend® Visa® is a great prepaid credit card for anyone without a bank account.

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If you don’t have a bank account or a traditional credit card, you may find yourself at a disadvantage in making purchases and accessing cash. But you can solve that problem by using a prepaid debit card. Netspend is one of the leaders in issuing prepaid debit cards, including both Visa and MasterCard. Either will enable you to make purchases wherever those cards are accepted, as well as to pay bills and access cash through ATM machines.

About the Netspend® Visa® Prepaid Card

Netspend is one of the leading providers of Visa Prepaid Debit Cards, MasterCard Prepaid Debit Cards, and prepaid card solutions in general. The company claims it serves 68 million consumers. Most of those consumers are considered unbanked, which means they do not have a traditional bank account, and must rely on alternative financial services.

Related: Why are Millennials Using Prepaid Credit Cards?

Prepaid cards give the unbanked the ability to transact business in much the same way as those who have traditional bank accounts, as well as credit and debit cards. As such, the company’s mission is:

”We empower consumers and businesses with the convenience, security, and freedom to be self-banked.”

Netspend was founded in 1999, and is based in Austin, Texas. It’s a subsidiary of TSYS (NYSE: TSS), a company that provides electronic payment processing services to banks and other financial institutions, and did nearly $5 billion in sales in 2017.

Netspend serves its customers through a nationwide network of more than 70,000 distribution locations, and 130,000 reload points. Customers can purchase and reload their prepaid cards at neighborhood retailers, check cashing services, convenience stores, grocers, pharmacies, insurance providers, and tax preparers.

On the business side, the company is also a major provider of commercial payroll card solutions. They enable employers to offer a direct deposit option that reduces the expenses that come with issuing paper checks.

How the Netspend® Visa® Prepaid Card Works

Some of the major advantages for consumers are that Netspend prepaid cards require no credit check, no activation fee, and no minimum balances. You can also have your payroll and government benefit checks direct deposited onto the card, which will enable you to be paid two days faster than if you are paid by a paper check.

The prepaid card can be used anywhere Visa or MasterCard are accepted, which is pretty close to everywhere. You can also use it to pay bills online, or even to withdraw cash from ATMs. In short, the card gives you virtually all the benefits of a traditional credit or debit card.

The card works through the Netspend Online Account Center. It enables you to manage your card account entirely online. There, you can see recent transactions, activate Payback Rewards (see below), or set up direct deposit.

Netspend gives you a choice of three different fee plans. One has no monthly fee, but charges a small fee for each transaction. The other two have a monthly fee, but there is no charge for individual transactions. You can choose the plan that works best for you (See the “Netspend® Visa® Pricing” section below).

Funding your card account

Once you open your card account, it can be funded with either direct deposit, or by mobile check load. Similar to mobile bank deposits, you can deposit funds into your card account simply by taking pictures of the front and back of the check and downloading them on the app. You can also add money to your card at any one of more than 130,000 reload locations across the US.

You can also have your tax refund direct deposited onto your card account. All you need to do is provide your account routing number and personal account number to your tax preparer, and include the information on page 2 of Form 1040, the way you would for any other direct deposit arrangement for a tax refund.

Netspend Premier

If you upgrade to this card, you can save almost 50% on the monthly fees, while also getting the benefit of the highest level of service the company offers. Netspend Premier also allows you to personalize your card with a favorite photo, at no extra charge (personalization is $4.95 if you are not a Premier member).

You can qualify by enrolling in direct deposit, with either government benefits or payroll checks, with at least $500 deposited in one calendar month.

Netspend Premier Card comes with the Purchase Cushion feature. On the Premier Card only, Netspend may cover you for up to $10 if you’re short on a purchase. When they do, you make up the shortfall the next time you reload your card.

Netspend® Visa® Features and Benefits

Payback Rewards

Netspend will offer Payback Rewards for certain purchases and merchants, on a revolving basis. They are updated regularly, so the offers will change. As you earn rewards, they are credited to your card account at the end of the following month.

Anytime Alerts

Netspend will issue text and email messages keeping you informed as to what’s happening with your account. The alerts can let you know when a paycheck is available, when you hit a spending limit, or when you’re near a reload location.

You can even customize the types of alerts you want to receive, as well as the frequency. For example, you can choose to receive alerts on individual transactions, deposits, declined transactions, or budget notifications. Alerts can be sent daily or weekly.

Netspend Savings Account

You can open a savings account by transferring money from your Netspend card to a Netspend Savings Account. You can even make transfers between your card account and the savings account, up to six times per calendar month. You can fund the savings account through the AutoSave feature that automatically transfers an amount you choose to the savings account, each time you load funds on your card.

Even better, you can earn interest of up to 5.00% annual percentage yield (APY), so your savings will grow.

Refer a Friend

When you refer a friend, and that person activates a new prepaid card and loads it with at least $40, both you and the friend get a $20 credit. Once the friend or family member has a card, you can send money back and forth using instant card holder transfers. There is no limit on the number of friends or family members you can refer.

Netspend Mobile App

The app is available for Android and iOS mobile devices, and can be downloaded at either the the App Store or Google Play. You can deposit checks using the mobile deposit feature on the app.

The app will allow you to check your balance and recent transactions, as well as send and receive funds to and from family and friends. You can do this with family and friends who also have a Netspend card, or with ACE Elite, Control, or Purpose cards.

Customer Support

Support is available by email, traditional mail, or by phone. Customer service is available Monday through Friday, from 8:00 AM to 10:00 PM, and Saturday and Sunday from 8:00 AM to 8:00 PM (all times Central).

Security

Funds held on the card are FDIC insured through the card’s issuing bank. You’re also protected from unauthorized charges through either the Visa Zero Liability or MasterCard Zero Liability protection programs. With either program, you must notify Netspend immediately when you have an unauthorized charge.

You can also get additional protection on your card, by personalizing it with a family photo or a unique image. In addition, you can use virtual card numbers to keep your number secret. You can do this by creating a temporary card number for online transactions.

Related: Should You Use a Masked Credit Card for Online Shopping?

Netspend also uses secure socket layer (SSL) technology to encrypt your personal information to keep it secure when it’s being transmitted over the Internet.

Netspend for Business

Netspend also offers its services to self-employed professionals and small business owners. They do this by offering their prepaid cards so that business owners can keep their business expenses separate from their personal ones.

One of their major business services is their payroll program. Their Skylight PayOptions Program helps small businesses make payroll paperless, and gives employees a convenient way to receive their paychecks. The payroll cards are also available in both Visa and MasterCard. The company claims employers can save between $2.87 and $3.15 per payroll transaction by using direct deposit, instead of paper checks.

Employees are able to save time and hassle by having their pay directly downloaded onto a prepaid card. It means they don’t have to concern themselves with cashing checks at the bank or through check cashing services.

They also offer their SmartOne Prepaid Cards for customizable incentive and disbursement campaigns for both employees and customers. For example, the cards can be used to distribute bonuses, or provide money for benefits and special events for employees.

For customers, a small business can also create custom cards, which will increase acquisition rates and reward long term customer loyalty.

If you have a small business, Netspend is well worth investigating for the many benefits they provide this often underserved business segment.

How to Sign Up for the Netspend® Visa® Prepaid Card

Netspend uses a three-step sign up process:

1. Order your card
2. Activate and verify your ID
3. Add money to your card

The order process is very simple. You complete a one-page online application:

Once again, no credit check is performed, and there is no minimum balance required on your card.

In keeping with federal law, you will be required to provide your date of birth as well as your government ID number (typically your Social Security number). You may also be required to provide a copy of your state issued driver’s license.

Once you sign up for your Netspend card, you will receive it in the mail within seven to 10 business days.

At any time after you sign up you can access your account through the Netspend® Visa® login page.

Netspend® Visa® Prepaid Card Pricing

Netspend offers three different plans, Pay-As-You-Go, FeeAdvantage, and Netspend Premier FeeAdvantage. The basic fee structures are as follows:

Plan/Fee	Plan Fee	Signature Purchase Fee	PIN Purchase Transaction Fee	Foreign Transaction Surcharge
Pay-As-You-Go	No fee	$1 each	$2 each	3.5% of US dollar amount of the purchase transaction, in addition to the normal purchase fee (Signature or PIN)
FeeAdvantage	$9.95 per month	Included in plan	Included in plan	3.5% of US dollar amount of the purchase transaction
Netspend Premier FeeAdvantage	$5.00 per month	Included in plan	Included in plan	3.5% of US dollar amount of the purchase transaction

There are no fees charged by Netspend when adding funds to your card, whether that’s for direct deposit, a funds transfer from a bank account, or mobile check loads. However, there may be fees assessed by reload locations.

Cash withdrawal fees are as follows:

Netspend® Visa® Prepaid Card Pros and Cons

FAQs

Question: How do I set up direct payroll deposit to a Netspend card?

Answer: Basically, the same way you would if you were setting up direct deposit into a bank account. You’ll need to provide the employer with the bank routing number, as well as your card account number. Both are available through Netspend.

For direct deposit of government checks, you’ll have to check the website of the agency issuing the monthly benefit payment for specific instructions.

Question: Can I fund my Netspend card using bank transfers?

Answer: You can from virtually any U.S. bank account. You’ll have to log into your Netspend account to get specific transfer instructions.

Question: Do Netspend cards have any spending limits?

Answer: Yes. You’re limited to not more than $4,999.99 every 24 hours for either purchase transactions, or over-the-counter cash withdrawals. For ATM cash withdrawals, the limit is $325 per withdrawal, or up to $940 per day, for up to six transactions per 24 hours.

Question: What are the terms of the interest paid on Netspend Savings?

Answer: The Netspend website doesn’t give too much detail on the savings account particulars. But a search of the web indicates they do pay 5% APY on the first $1,000 in your account. Balances in excess of $1,000 earn 0.5%. That’s a lot better than what most brick-and-mortar banks pay.

Should You Sign Up with Netspend® Visa® Prepaid Card

Netspend® Visa® and MasterCard Prepaid Cards are an excellent choice for anyone who does not have a traditional bank relationship. A prepaid card can give you most of the benefits of traditional credit and debit cards, including paying for purchases in-store and online, paying bills, and transferring funds to family and friends.

The two major disadvantages are the fees involved in having a prepaid card, as well as the fact that it will not enable you to build or improve your credit score. But if you don’t have a relationship with traditional financial institutions, those may not be major concerns for you.

A Netspend card can also be an excellent option if you’re looking to carefully limit your spending, through the discipline that prepaid cards require. There’s virtually no chance you can exceed your spending limit, or incur a late charge.

It could also be a good strategy if you need to make a purchase from an online source that you don’t entirely trust. Since you can make a purchase using a temporary account number, the online vendor will not be able to steal your identity. As well, the maximum loss would be the amount of money you have in the account. Unlike a debit or credit card, an unscrupulous online vendor won’t be able to clean out your bank account or run up your credit limit.

If you’d like more information, or if you’d like to sign up for a prepaid card, check out Netspend® Visa®.

Topics: Credit Cards • Money Management • Reviews

The post Netspend® Visa® Prepaid Card Review – Good Option for the UnBanked appeared first on The Dough Roller.

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