Finance Xpress

Posted by: John S Kiernan

WalletHub conducted a nationally representative poll of nearly 500 people in the U.S. to see what types of resolutions folks are making for 2020, especially in terms of personal finance. We also asked about people’s motivations for making resolutions, their expectations of success and much more. This survey took place from December 2 to December 6, 2019. You can find the complete results in the following infographic.  

Key Stats

• The #1 financial resolution for men is to save more, while women are focused on paying off debt.
• WalletHub’s Top 10 New Year’s Financial Resolutions for 2020 start with 1) Repay 20% of your credit card debt and 2) Add one month’s pay to your emergency fund.
• 7 in 10 people admit they’ve cheated on a New Year’s resolution before.
• Conservatives are 2.5X more likely than Liberals to think it is NOT ok to adjust your New Year’s Resolution later in the year.
• Millennials are twice as likely as baby boomers to break a resolution due to laziness.

  Embed on your website<a href="https://ift.tt/2Z2ncBH"> <img src="//d2e70e9yced57e.cloudfront.net/wallethub/posts/69655/2020-financial-new-year’s-resolutions-survey-v4.png" width="" height="" alt="" /> </a> <div style="width:px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2YZOSHu>

Full Details Overall

What type of New Year’s resolution are you most likely to make? (select all that apply)
Health	57%
Financial	39%
Relationships	26%
Habitual (biting nails, being late, etc.)	21%
None	19%
Educational	14%
What type of New Year’s resolution are you least likely to keep? (select all that apply)
Habitual (biting nails, being late, etc.)	34%
Health	33%
Financial	21%
Educational	21%
Relationships	21%
How likely are you to keep a New Year’s resolution?
50/50	62%
Very likely	23%
Very unlikely	15%
If you are to make a financial resolution, what would it be?
Save more	33%
Pay off debt	27%
Spend less	18%
Make more money	16%
Improve credit score	6%
Did you make a financial resolution last year?
No	76%
Yes	24%
How long do you expect to keep your New Year’s resolution?
Full year	47%
Up to 6 months	18%
Up to 3 months	18%
Less than a month	12%
Up to 9 months	5%
Have you ever cheated on a New Year’s resolution?
Yes	72%
No	28%
Is it ok to adjust your New Year’s Resolution during the year?
Yes	80%
No	20%
If you make a financial resolution, what is most likely to prevent you from keeping it?
Unexpected emergency	33%
Not enough money	24%
Laziness	15%
Shopping temptation	14%
Significant other	6%
Travel temptation	5%
Friends	3%

Note: Percentages may not total 100% due to rounding.

from Wallet HubWallet Hub


via Finance Xpress

Posted by: Adam McCann

It’s the most wonderful time of the year — or at least it can be, depending on where you celebrate Christmas. That’s because America’s favorite holiday is also one of the most expensive. From decorations and food to gifts and travel, there’s a long list of expenses to check twice and save up for during the year.

In 2019, Americans are projected to spend up to $730 billion over the holidays, according to the National Retail Federation. The average person plans to spend $1,047.83. If you don’t have a reasonable holiday budget — or enough self-control — then your Plan B should definitely include celebrating in the cheapest Christmas destinations. Overspending is a common mistake committed by consumers during the Christmas shopping season and one of the top sources of holiday stress.

But beyond ensuring its affordability, a successful holiday also hinges on a location’s Christmas-friendliness. Typical Christmas activities include shopping, dining out and attending holiday events, so the availability of such options can make all the difference. Many people also are likely to attend church services, considering Christmas is a Christian holiday. The more churches around, the less likely each is to be crowded.

WalletHub considered all of those factors to determine where you’re guaranteed to enjoy a holly jolly Christmas whether you’ve been naughty or nice. More specifically, we compared the 100 biggest U.S. cities based on 33 key indicators of a festive and affordable Christmas, such as traditions, shopping and costs. Read on for the ranking results, expert holiday tips and a full description of our methodology.

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

Main Findings

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/41924/geochart-christmas-2017.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/2USAoqx>

Best Cities for Christmas

Overall Rank (1 = Best)	City	Total Score	‘Traditions & Fun’ Rank	‘Observance’ Rank	‘Generosity’ Rank	‘Shopping’ Rank	‘Costs’ Rank
1	Atlanta, GA	66.53	6	12	3	6	63
2	Orlando, FL	66.45	3	18	74	2	13
3	New York, NY	64.82	1	11	9	4	100
4	Pittsburgh, PA	63.50	25	2	7	5	27
5	Chicago, IL	61.92	4	3	17	25	75
6	Las Vegas, NV	61.14	8	36	36	1	62
7	Los Angeles, CA	60.27	5	13	47	11	68
8	San Francisco, CA	59.50	2	43	6	12	96
9	Seattle, WA	57.69	7	65	1	16	92
10	Portland, OR	56.09	10	47	14	14	65
11	Washington, DC	55.64	14	14	4	32	85
12	Denver, CO	55.27	12	45	20	13	69
13	Austin, TX	54.16	16	44	73	8	21
14	St. Louis, MO	54.15	20	6	60	10	84
15	Birmingham, AL	53.57	68	1	35	52	5
16	Minneapolis, MN	53.46	23	22	38	22	41
17	Miami, FL	52.55	9	30	72	7	95
18	Dallas, TX	52.33	18	16	54	30	30
19	Cincinnati, OH	52.32	32	9	64	17	42
20	Honolulu, HI	51.80	22	54	53	3	59
21	Philadelphia, PA	51.35	13	5	56	38	90
22	Indianapolis, IN	50.78	33	21	28	53	16
23	Houston, TX	50.73	27	7	70	24	66
24	San Diego, CA	50.58	11	37	78	9	87
25	San Antonio, TX	50.45	17	23	75	18	71
26	Sacramento, CA	49.75	21	38	33	23	73
27	Louisville, KY	49.45	52	19	58	19	36
28	Raleigh, NC	49.20	31	51	21	40	19
29	Nashville, TN	49.03	36	32	27	35	23
30	Baltimore, MD	48.91	47	17	43	27	48
31	Oklahoma City, OK	48.64	60	20	68	59	1
32	Buffalo, NY	48.59	28	15	76	31	44
33	Memphis, TN	47.86	48	8	44	80	43
34	Tampa, FL	47.82	30	35	37	28	56
35	Charlotte, NC	47.54	29	31	23	39	76
36	Scottsdale, AZ	47.53	71	91	8	21	9
37	Madison, WI	47.27	63	70	2	54	12
38	Jacksonville, FL	46.97	42	25	31	48	35
39	Tucson, AZ	46.51	50	48	66	36	4
40	Milwaukee, WI	46.16	38	24	61	75	24
41	New Orleans, LA	45.78	15	50	63	42	81
42	Phoenix, AZ	45.72	19	78	41	43	33
43	Omaha, NE	45.55	41	40	52	34	14
44	Columbus, OH	45.34	51	39	57	26	47
45	Cleveland, OH	45.14	39	4	55	69	88
46	Kansas City, MO	44.96	26	29	50	64	54
47	St. Paul, MN	44.65	37	33	42	33	61
48	San Jose, CA	44.63	34	67	12	20	98
49	Fort Worth, TX	44.09	46	27	32	71	22
50	Boston, MA	43.96	24	76	18	58	79
51	Tulsa, OK	43.83	69	28	80	37	8
52	Oakland, CA	42.92	49	42	24	60	67
53	Colorado Springs, CO	42.57	57	73	59	41	18
54	Virginia Beach, VA	42.51	40	85	15	47	32
55	Albuquerque, NM	41.81	56	59	95	15	37
56	Reno, NV	41.65	54	94	22	46	7
57	Irvine, CA	41.30	44	79	13	57	74
58	Boise, ID	41.25	45	72	84	63	17
59	Plano, TX	41.24	72	81	10	56	25
60	Greensboro, NC	40.86	64	41	96	29	29
61	Anaheim, CA	40.74	35	62	62	45	53
62	Detroit, MI	40.53	61	10	88	97	52
63	Durham, NC	40.52	53	64	5	74	72
64	Wichita, KS	39.86	80	34	99	50	6
65	Bakersfield, CA	38.93	59	52	97	83	15
66	Gilbert, AZ	38.31	75	97	26	62	2
67	Lexington-Fayette, KY	38.24	77	66	69	67	11
68	Anchorage, AK	37.91	65	88	34	44	50
69	Norfolk, VA	37.76	58	61	49	88	55
70	Long Beach, CA	37.35	62	55	67	73	51
71	Chandler, AZ	37.00	83	96	19	65	20
72	Santa Ana, CA	36.93	43	77	45	82	60
73	Jersey City, NJ	36.92	78	68	16	95	64
74	Baton Rouge, LA	36.80	67	53	81	51	83
75	Chesapeake, VA	35.68	55	71	25	87	94
76	Lincoln, NE	35.47	85	74	30	92	34
77	Riverside, CA	35.37	74	69	89	61	49
78	Mesa, AZ	35.05	87	89	51	66	10
79	Fresno, CA	34.88	81	49	90	76	38
80	Newark, NJ	34.76	76	26	65	100	93
81	Fremont, CA	34.61	94	93	11	49	99
82	El Paso, TX	34.59	84	60	86	72	28
83	Henderson, NV	33.91	97	98	40	70	3
84	Fort Wayne, IN	33.76	82	56	91	77	58
85	Arlington, TX	33.59	88	80	39	91	46
86	Lubbock, TX	33.29	66	57	85	84	82
87	Irving, TX	32.39	98	82	29	94	57
88	St. Petersburg, FL	32.19	70	86	71	81	80
89	Winston-Salem, NC	31.90	73	63	98	55	86
90	Corpus Christi, TX	31.62	86	58	100	86	31
91	Aurora, CO	31.39	99	90	48	85	45
92	Toledo, OH	30.30	92	46	93	93	78
93	Garland, TX	30.10	96	84	46	98	70
94	Stockton, CA	30.10	89	75	82	79	91
95	Chula Vista, CA	30.02	79	92	77	68	77
96	Glendale, AZ	29.51	91	95	79	78	39
97	Laredo, TX	27.84	100	83	94	89	26
98	San Bernardino, CA	24.96	93	87	92	96	89
99	North Las Vegas, NV	24.95	95	99	83	99	40
100	Hialeah, FL	22.95	90	100	87	90	97

Ask the Experts

Many people feel pressured to spend during the holidays, which can lead to overspending. To help consumers avoid ending the year with an empty wallet and stay safe during their travels, we asked a panel of experts to share their thoughts on the following key questions:

1. What tips do you have for celebrating Christmas on a budget?
2. What are some of the big money wasters on Christmas?
3. What money-saving tips do you have for people planning to travel for the Christmas holiday?

< >

• Joaquin Gomez Minambres Ph.D. – Assistant Professor of Economics, Lafayette College
• Jamie H. Cooperstein CEO, J. Cooperstein Hospitality Consulting, LLC & Adjunct Professor at Drexel University
• Allison Potter Ph.D. – Instructor, Department of Finance, Insurance, and Real Estate FCBE, The University of Memphis
• Dhruba Banjade Adjunct Assistant Professor, University of Texas at Arlington

Methodology

In order to determine the best places to celebrate Christmas, WalletHub compared the 100 most populated cities across five key dimensions: 1) Traditions & Fun, 2) Observance, 3) Generosity, 4) Shopping and 5) Costs.

We evaluated those dimensions using 33 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 celebrating Christmas.

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 determining our sample, we considered only the city proper in each case, excluding cities in the surrounding metro area. For metrics marked with an asterisk (*), we used the square root of the population to calculate the population size in order to avoid overcompensating for minor differences across cities.

Traditions & Fun - Total Points: 20

• Ranking on Top 25 Destinations for Christmas: Double Weight (~2.67 Points) Note: This metric is based on advance hotel reservations made on priceline.com and measures the ranking of the city among the top 25 Christmas destinations.
• Christmas Events per Capita*: Double Weight (~2.67 Points) Note: “Events” include festivals, performances and galas.
• Presence of SantaCon Events: Full Weight (~1.33 Points) Note: This metrics measures the presence or absence SantaCon events in a city.
• Google Search Interest for ‘Christmas Celebration’: Full Weight (~1.33 Points) Note: This metric measures the real intent of the population to find information about the following search terms: “Christmas party”, “Christmas light show”, “Christmas market”, “Christmas concert”, “Christmas festival” and “Christmas dinner”. “Real intent” is measured using the average monthly search volumes for those specific terms.
• Christmas Tree Farms per Capita*: Full Weight (~1.33 Points) Note: Christmas tree farms refers to Christmas tree gardens & lots & selling points.
• Bakeries per Capita*: : Full Weight (~1.33 Points)
• Restaurants per Capita*: Full Weight (~1.33 Points)
• Diversity of Restaurants: Full Weight (~1.33 Points)
• Number of Attractions: Full Weight (~1.33 Points)
• Ice Skating Rinks per Capita*: Full Weight (~1.33 Points)
• Nightlife Options per Capita*: Full Weight (~1.33 Points)
• Bars per Capita*: Full Weight (~1.33 Points)
• Music Venues per Capita*: Full Weight (~1.33 Points) Note: Many cities host Christmas concerts during the holiday season.

Observance - Total Points: 20

• Share of Christian Population: Full Weight (~10.00 Points)
• Churches per Capita*: Full Weight (~10.00 Points)

Generosity - Total Points: 20

• Food Banks per Capita*: Full Weight (~4.00 Points)
• Share of Income Donated to Charity: Full Weight (~4.00 Points)
• Share of Population Collecting/Distributing Food & Clothes for the Needy: Full Weight (~4.00 Points)
• Online Giving per Capita: Full Weight (~4.00 Points)
• Christmas Spirit: Full Weight (~4.00 Points) Note: This metric is based on WalletHub’s “Most Caring Cities” ranking.

Shopping - Total Points: 20

• Christmas Markets per Capita*: Double Weight (~5.00 Points)
• Gift Shops per Capita*: Full Weight (~2.50 Points)
• Shopping Centers & Outlets per Capita*: Full Weight (~2.50 Points)
• Toy Stores & Hobby Shops per Capita*: Full Weight (~2.50 Points)
• Candy Stores & Chocolatiers per Capita*: Full Weight (~2.50 Points)
• Cards & Stationery Shops per Capita*: Full Weight (~2.50 Points)
• Holiday Decorations Shops & Holiday Decorating Services per Capita*: Full Weight (~2.50 Points)

Costs - Total Points: 20

• Average Price per Christmas Party Ticket: Double Weight (~5.71 Points)
• Cost of Three-Star Hotel Room: Full Weight (~2.86 Points)
• Restaurant Meal Costs: Full Weight (~2.86 Points)
• Number of Affordable, High-Quality Restaurants: Full Weight (~2.86 Points) Note: “High-Quality Restaurants” include those with ratings of 4.5 stars or higher.
• Average Beverage Price: Full Weight (~2.86 Points) Note: “Beverage” refers to beer and wine.
• Average Price for Two Tickets to the Theater: Full Weight (~2.86 Points) Note: Some cities offer a wide range of Christmas-themed performances which one can enjoy with friends or family.

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Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Corporation for National and Community Service, Chronicle of Philanthropy, Council for Community and Economic Research, The Association of Religion Data Archives, Priceline, Eventbrite, Yelp, TripAdvisor, Kayak, Numbeo, Google Ads, SantaCon, Expatistan and WalletHub research.

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Posted by: John S Kiernan

Roughly 80% of Americans plan to make New Year’s resolutions for 2020, according to a new WalletHub survey. This time of year, it seems we are taken by the spirit that led Benjamin Franklin to advise: “Be always at war with your vices, at peace with your neighbors, and let each New Year find you a better man.”

We all have our fair share of vices and room for improvement, especially when it comes to money. So it’s unsurprising that financially-themed resolutions are among the most popular made each new year. In fact, nearly 4 in 10 people plan to make a financial resolution for 2020, and money trails only health in resolution popularity.

But fewer than 50% of resolution-makers expect to keep their vow for a full year, which is not a good sign for hopes of improved money management. Neither is the fact that more than 7 in 10 people admit to having cheated on a New Year’s resolution in the past.

Don’t be discouraged, though. WalletHub has your back. We put together a list of the top financial New Year’s resolutions to make for 2020, plus a playbook for making them a reality.

10 Financial Resolutions for 2020:

1. Repay 20% of your credit card debt
2. Add one month’s pay to your emergency fund
3. Pay bills right after getting your paycheck
4. Make a realistic budget & stick to it
5. Use different credit cards for everyday purchases & debt
6. Look for a better job
7. Sign up for credit monitoring
8. Improve your credit score by 20 points
9. Focus on your physical health
10. Get an A in Wallet Literacy

Below, you can learn more about each of WalletHub’s financial resolutions for 2020, including why they’re good for your wallet and how to accomplish them. You can also get more insights from our Q&A with a panel of experts in the fields of finance and psychology about making and keeping New Year’s resolutions.

Top Financial Resolutions for 2020 & How to Keep Them

1. Repay 20% of Your Credit Card Debt: Americans owe way too much credit card debt: over $1 trillion overall and roughly $8,700 per household. That debt is extremely expensive, too. Something eventually has to give. And you’d much rather that be your outstanding balance, paid down on your own terms, than your ability to afford monthly minimum payments and, in turn, your credit score. So it’s time to get serious about getting out of credit card debt.

   Some of the other steps mentioned here – including budgeting, automation and the Island Approach – will help in terms of reducing your future reliance on debt. But the problem of what to do about existing balances still remains. The answer for people with at least “good” credit is the combination of a 0% balance transfer credit card and a credit card calculator, which has the potential help you save hundreds of dollars while getting out of debt months sooner than you would otherwise.

   But it’s probably best to start small. So we recommend making a plan to pay off 20% of what you owe over the course of 2020. That would amount to about $1,740 for the average household, requiring monthly payments of $145 with a card offering 0% on balance transfers for at least 12 months. You can use a credit card payoff calculator to crunch the numbers in your situation, and if you can afford higher payments, by all means make them. The sooner you can reach debt freedom, the better off your wallet will be.

2. Add One Month’s Pay to Your Emergency Fund: Almost half of Americans do not have a rainy-day fund, according to the Financial Industry Regulatory Authority. Like someone without insurance, people who lack an emergency fund are tempting fate, putting themselves at risk of financial catastrophe in the event of unexpected unemployment or major medical expenses. So building up some reserves should be one of the first orders of business for any financial makeover.

   We recommend ultimately building a fund with about 12 to 18 months’ take-home income. But it’s important to understand that won’t happen overnight. In other words, you don’t need to put the rest of your financial life on hold until your emergency fund is complete. Rather, chip away at it over time.

3. Pay Bills Right After Receiving Your Paycheck: Taking care of monthly obligations before letting yourself indulge in any luxury expenses is a helpful budgeting strategy. It gives you a better sense of what you can truly afford and what you can’t. It also helps you avoid ever having a late payment reported to the major credit bureaus, which is one of the easiest ways to damage your credit score. Furthermore, paying your bill early improves your credit utilization, and thus your credit score, by reducing the balance listed on your monthly statement.

   We recommend setting up two automatic monthly payments from a deposit account: one for right after payday and another for a couple days before your monthly due date. The second payment will help you avoid interest on any purchases made between your first payment and the end of your billing period. If you don’t know when your billing cycle begins and ends, simply check your monthly statement. You can also request to change it to whatever day of the month is best for you.

   To learn more about keeping your payment train on schedule, check out our 8 Tips For Never Missing A Due Date.

4. Make a Realistic Budget & Stick to It: The fact that we’re on pace to end 2019 with well over $1.1 trillion in credit card debt is a bit less surprising when you consider that only about 4 in 10 adults have a budget, according to the National Foundation for Credit Counseling. Both statistics also signal the need for greater urgency on our part. In short, missed payments and credit score damage are in our future if we don’t cut back, which requires re-thinking how we allocate our money. 

   The best way to make a budget is to gather your bills from the past few months and make a list of all your recurring expenses. Then rank them in order of importance, with true necessities such as housing, food and healthcare obviously taking the top spots. After that, you can simply cut from the bottom of your list until your take-home exceeds what you plan to spend. Finally, keep track of your monthly spending throughout the year to make sure you’re abiding by your budget.

5. Use Different Credit Cards for Everyday Purchases & Debt: The Island Approach involves using different accounts to serve different financial needs, as if they are a chain of islands. The most basic example is using a rewards credit card for everyday purchases and a 0% APR card for balances that you’ll carry from month to month. 

   Doing so enables you to get the best possible terms on each card, rather than settling for average terms on a single card. It will also help you reduce the cost of your debt, considering everyday purchases won’t be inflating your average daily balance. And if you ever incur interest on your everyday card, you’ll know you spent too much that month.

6. Look for a Better Job: Sometimes, we get so caught up in spending less and saving more that we forget to address the other side of the equation: how much we earn. But the benefits of finding a higher-paying job could actually end up outweighing everything else put together. Trading up career-wise isn’t necessarily as simple as scouring local job postings, though.

   You might need to consider moving in search of higher wages or a lower cost of living. Or you could go back to school to gain skills that will add to your earning potential.

   Not all industries and areas of the country offer the same opportunities. For example, the best city for jobseekers in 2019 – Scottsdale, AZ, according to WalletHub research – has 111% more job openings per unemployed resident than the worst city for jobseekers, Fayetteville, NC.

7. Sign Up for Credit Monitoring: Thanks to the increased availability of free credit scores, most people have a good sense of their credit standing these days. Too few of us are familiar with the actual contents of our credit reports, though. That might be because we assume our credit scores tell the full story, but that's just not the case. For starters, as many as one in four people have an error on their report that could affect their credit score, according to research by the Federal Trade Commission. Furthermore, reviewing at least one of your major credit reports on a regular basis will allow you to spot signs of fraud before they get too serious. You can start by checking your free TransUnion credit report on WalletHub.

   With that being said, no one can keep tabs on their credit around the clock. And that’s where 24/7 credit monitoring comes in. Signing up for free credit monitoring will enable you to receive an instant notification anytime there is an important change to your credit report. In other words, it reduces lag time when spotting issues and gives you the peace of mind that comes with knowing you won’t miss anything.

8. Improve Your Credit Score by 20 Points: Less than 1.6% of people have the highest credit score possible (850). Fewer than 1 in 5 people have perfect credit scores (800+). And the average credit score is 683. So most people have room for credit score improvement and could save a lot of money as a result. 

   The best way to improve your credit is to maintain an open credit card account that is in good standing. The card will then report positive information to the major credit bureaus each month, either building out a short credit history or helping to devalue mistakes from the past. You don’t have to get into debt to benefit from the credit building capabilities of a credit card, unlike with a loan, and you don’t even need to make purchases with your card. If you don’t have the credit standing necessary to qualify for a normal credit card, you can always place a refundable deposit on a secured credit card and benefit from what’s basically guaranteed approval.

   You can get your free credit score, updated daily, by signing up for WalletHub. This will give you an accurate sense of your starting point and enable you to track your progress over time. Plus, you will receive customized credit-improvement advice that will help you maximize both your score and your savings. For example, the grades on the Credit Analysis section of your WalletHub account will tell you what weak points you need to work on.

9. Focus on Your Physical Health: There is a clear connection between physical, emotional and financial health. For starters, the average person spends about $4,968 on health care each year. Money is also our biggest sources of stress, according to the American Psychological Association. And people who get regular exercise tend to have better credit scores.

   This underscores the importance of getting your financial house in order as well as exercising regularly and engaging in other healthy practices aimed at reducing health care costs. It won’t be easy, but this is one resolution that will certainly pay dividends in multiple areas of your life.

   “If you begin to make small healthy changes to your diet, increase exercise in small increments, and practice yoga and meditation, you will feel better,” says Deborah Bauer, a distinguished senior instructor of finance at the University of Oregon. “Feeling better will lead to wiser financial decisions that focus on the long term.”

10. Get an A in Wallet Literacy: Financial literacy levels in this country are far too low, and they’re headed in the wrong direction. As of 2019, roughly 45% of Americans grade their financial know-how at a “C” or below, according to the National Foundation for Credit Counseling. In 2013, that figure was at 40%.

    So start 2020 by taking our WalletLiteracy Quiz and getting a baseline score. Then, throughout the year, study the areas where you struggled and periodically re-test yourself to gauge your progress. Your goal should be to get at least an A- by the time 2021 rolls around.

Ask the Experts: Making & Keeping New Year’s Resolutions

We turned to a panel of experts in the fields of personal finance, business, management and psychology for additional insight into the best New Year’s Resolutions for achieving financial improvement and strategies for sticking to them. You can check out our experts’ bios as well as the questions we asked them and their responses below.

1. What are the Do’s and Don'ts of New Year's resolution-making?
2. To what extent does a solid support system make it easier to stick to resolutions? Is it a good idea to have a resolution buddy?
3. Does rewarding positive behavior make it easier to accomplish a long-term goal? Are certain types of incentives better than others?
4. What is the ideal number of resolutions?
5. Do you have any tips for people with financial resolutions?

< >

• Brittany K. Jakubiak Assistant Professor, Department of Psychology, Syracuse University
• Matthew Leone Ph.D. – Associate professor, Criminal Justice, University of Nevada, Reno
• Elinda F. Kiss Associate Clinical Professor, University of Maryland
• Roman L. Weil Professor Emeritus, University of Chicago Booth School of Business
• Crystal Y. Lin Ph.D., CFA, CFP – Assistant Chair of Finance, Professor of Finance, School of Business, Eastern Illinois University
• Ronnie Colvin M.S., CFP – Financial Planner, Cole Financial Planning and Wealth Management

More Experts

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Posted by: Adam McCann

Caring means having a connection with others and being concerned for their wellbeing. And it can be expressed in multiple ways — from helping an elderly person cross the street to fighting a house fire. But certain parts of America put this into practice more than others.

As a whole, Americans have shown their care through charitable giving more and more. According to Giving USA, Americans donated over $427 billion in 2018, a decrease of 1.7% from the previous year when adjusted for inflation. But even if you can’t afford to give away your income, there are plenty of other ways to show kindness to others. You can volunteer your time and expertise as well.

In order to identify the areas that care the most, WalletHub compared the 100 largest cities across 39 key indicators of a compassionate spirit. Our data set ranges from share of sheltered homeless persons to number of volunteering hours per capita to share of income donated to charity. Continue reading below for the complete ranking, expert commentary and a full description of our methodology.

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

Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/17814/geochart-caring-2017.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/2USpLUO>

 

Most Caring Cities in the U.S.

Overall Rank*	City	Total Score	‘Caring for the Community’ Rank	‘Caring for the Vulnerable’ Rank	‘Caring in the Workforce’ Rank
1	Virginia Beach, VA	66.48	1	19	17
2	Madison, WI	65.48	3	17	15
3	Pittsburgh, PA	65.36	12	25	5
4	Lincoln, NE	64.85	38	5	10
5	Minneapolis, MN	64.63	22	29	2
6	St. Paul, MN	64.63	14	34	1
7	Fremont, CA	64.61	8	4	41
8	Chesapeake, VA	64.59	7	24	14
9	Boston, MA	63.89	15	37	3
10	Scottsdale, AZ	63.07	4	1	95
11	Aurora, CO	61.88	21	14	29
12	New York, NY	61.73	16	48	8
13	Denver, CO	60.87	40	7	31
14	Plano, TX	60.80	9	6	77
15	Gilbert, AZ	60.65	2	13	93
16	Jersey City, NJ	60.52	26	41	9
17	Irvine, CA	60.43	11	12	67
18	Washington, DC	60.14	49	8	25
19	Seattle, WA	59.44	44	3	63
20	Omaha, NE	59.39	70	21	16
21	San Francisco, CA	59.27	75	2	33
22	Portland, OR	58.90	54	15	21
23	San Jose, CA	58.49	19	10	84
24	Norfolk, VA	58.22	18	73	13
25	Chandler, AZ	58.07	6	27	92
26	Anaheim, CA	58.03	48	9	57
27	Philadelphia, PA	57.96	35	74	7
28	Durham, NC	57.53	77	63	4
29	Colorado Springs, CO	57.32	67	16	45
30	Chicago, IL	57.19	36	32	42
31	Santa Ana, CA	56.98	41	20	58
32	San Diego, CA	56.95	45	11	73
33	Columbus, OH	56.89	29	65	19
34	Raleigh, NC	56.79	25	42	47
35	Reno, NV	56.68	63	23	46
36	Honolulu, HI	56.64	20	49	39
37	Lexington-Fayette, KY	56.42	65	47	18
38	Chula Vista, CA	56.37	27	28	74
39	Newark, NJ	56.33	28	81	12
40	Charlotte, NC	56.22	23	61	36
41	Louisville, KY	55.92	34	53	35
42	Sacramento, CA	55.45	60	18	60
43	Irving, TX	55.42	17	44	82
44	Henderson, NV	55.10	5	45	98
45	Mesa, AZ	54.98	10	51	88
46	Buffalo, NY	54.94	80	64	6
47	Los Angeles, CA	54.46	71	33	44
48	Indianapolis, IN	54.36	76	43	27
49	Boise, ID	54.35	46	38	61
50	Baltimore, MD	54.33	47	75	22
51	Austin, TX	54.29	68	35	50
52	Jacksonville, FL	53.79	43	52	59
53	Anchorage, AK	53.46	91	31	26
54	Tampa, FL	53.43	32	59	69
55	Long Beach, CA	53.23	66	46	54
55	Cincinnati, OH	53.23	57	62	38
57	Fort Wayne, IN	53.10	58	60	37
58	Nashville, TN	53.01	55	55	48
59	Oakland, CA	52.97	86	26	49
60	Cleveland, OH	52.68	62	94	11
61	Arlington, TX	52.46	33	58	78
62	Riverside, CA	52.46	50	30	91
63	Milwaukee, WI	51.95	42	95	30
64	St. Petersburg, FL	51.74	64	50	69
65	Garland, TX	51.69	24	79	81
66	Kansas City, MO	51.66	78	72	24
67	St. Louis, MO	51.33	83	56	28
68	Oklahoma City, OK	51.07	69	70	53
69	Fort Worth, TX	50.75	37	78	80
70	Atlanta, GA	50.56	56	69	72
71	Fresno, CA	50.22	53	71	66
72	Bakersfield, CA	50.21	81	22	97
73	Las Vegas, NV	50.15	31	66	98
74	Phoenix, AZ	49.43	51	57	96
75	Toledo, OH	49.16	88	83	32
76	Glendale, AZ	49.11	39	84	89
77	El Paso, TX	48.82	13	93	85
78	North Las Vegas, NV	48.20	30	86	98
79	San Antonio, TX	48.09	73	85	65
80	Tucson, AZ	47.96	87	67	64
81	Dallas, TX	47.85	59	87	83
82	New Orleans, LA	47.84	82	90	40
83	Greensboro, NC	47.71	89	77	51
84	Lubbock, TX	47.70	95	54	34
85	Hialeah, FL	47.64	61	91	75
86	Wichita, KS	46.62	98	36	68
87	Baton Rouge, LA	46.55	100	68	20
88	Orlando, FL	46.50	90	40	90
89	Memphis, TN	46.16	85	97	43
90	Tulsa, OK	45.91	93	76	56
91	Winston-Salem, NC	45.86	74	92	71
92	Albuquerque, NM	45.51	99	80	23
93	Miami, FL	45.33	84	89	75
94	Detroit, MI	45.20	72	98	79
95	Stockton, CA	44.77	96	39	94
96	Corpus Christi, TX	44.55	92	88	55
97	Houston, TX	43.85	79	96	87
98	Laredo, TX	43.05	52	100	52
99	San Bernardino, CA	41.05	94	82	86
100	Birmingham, AL	37.82	97	99	62

*No. 1 = Most Caring

 

Ask the Experts

Every now and then, we all need a helping hand. Sometimes that help must come from our local government and community. We asked a panel of experts for their ideas on how cities can provide the care that residents need and address other important challenges. Click on the experts’ profiles to read their bios and thoughts on the following key questions:

1. Should people who care for children or other relatives receive financial compensation from the government?
2. How can local authorities encourage citizens to be more caring?
3. Foster care has largely replaced orphanages in the United States. Is this trend good?
4. How can local communities strike the right balance between care services provided by the government versus nonprofits, charities and religious organizations?
5. How can cities design programs that care for people in need while also encouraging self-sufficiency?

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• Debbie Minsky-Kelly LCSW – Director of Field Instruction/Clinical Assistant Professor, School of Social Work, Carthage College
• Kendra Stewart Professor and Director Joseph P. Riley, Jr. Center for Livable Communities, College of Charleston

Methodology

In order to determine the most caring cities in America, WalletHub compared the 100 most populated cities across three key dimensions: 1) Caring for the Community, 2) Caring for the Vulnerable and 3) Caring in the Workforce.

We then evaluated those dimensions using 39 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with 100 representing the highest level of caring. Data for metrics marked with an asterisk (*) were available only at the state level. For metrics marked with two asterisks (**), we used the square root of the population to calculate the population size 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 determining our sample, we considered only the city proper in each case and excluded cities in the surrounding metro area.

Caring for the Community – Total Points: 40

• Violent Crime Rate: Triple Weight (~5.33 Points)
• Property Crime Rate: Triple Weight (~5.33 Points)
• Alcohol-Impaired Driving Fatalities per Capita: Half Weight (~0.89 Points)
• Driving Fatalities per Capita: Half Weight (~0.89 Points)
• Pedestrian Fatality Rate: Half Weight (~0.89 Points)
• Care for the Environment: Full Weight (~1.78 Points)Note: The share of workers who carpool was used for this metric.
• WalletHub “Energy Efficiency” Ranking: Half* Weight (~0.89 Points)Note: This metric is based on WalletHub’s “Most & Least Energy Efficient States" ranking.
• Social Ties: Full Weight (~1.78 Points)Note: This metric is based on responses to Sharecare’s RealAge® Test and was used in our analysis to highlight the places where relationships with family and friends are strongest and therefore likely to result in a positive effect on a person’s social life.
• Civic Engagement: Full* Weight (~1.78 Points)Note: The share of citizens who voted in the 2018 elections was used for this metric.
• Favors for Neighbors: Triple Weight (~5.33 Points)Note: This metric measures the share of residents who do favors for their neighbors.
• Presence of “Built for Zero” Communities: Full Weight (~1.78 Points)Note: This binary metric measures the presence or absence of “Built for Zero” Communities in a city. Built for Zero (formerly Zero: 2016) is a rigorous national change effort working to help a core group of committed communities end veteran and chronic homelessness. Coordinated by Community Solutions, the national effort supports participants in developing real time data on homelessness, optimizing local housing resources, tracking progress against monthly goals, and accelerating the spread of proven strategies.
• Food & Clothing Distribution to the Needy: Full Weight (~1.78 Points)Note: This metric measures the share of residents who collect or distribute food or clothing for the needy.
• Share of Residents Who Fundraise or Sell Items to Raise Money: Full Weight (~1.78 Points)
• Share of Income Donated to Charity: Full Weight (~1.78 Points)
• Online Giving per Capita: Full Weight (~1.78 Points)
• Volunteering Hours per Capita: Double Weight (~3.56 Points)
• Share of Registered Volunteer Fire Departments: Full* Weight (~1.78 Points)
• Google Search Interest for “Charitable Donations”: Half Weight (~0.89 Points)Note: This metric measures the real intent of the population to find information using the following search terms: “volunteer”, “non profit organizations”, “charity”, “charitable donations” and “charitable organizations”. “Real intent” is measured using the average monthly search volumes for those specific terms.

Caring for the Vulnerable – Total Points: 40

• Child Poverty Rate: Double Weight (~5.71 Points)
• Adult Poverty Rate: Double Weight (~5.71 Points)
• Adoption Rate: Half* Weight (~1.43 Points)Note: This metric measures the number of children adopted through public agencies per adult population.
• Availability of Paid Family Leave: Full* Weight (~2.86 Points)Note: This binary metric considers the presence or absence of paid family leave in the state.
• Share of Sheltered Homeless Persons: Double Weight (~5.71 Points)
• Rehabilitation Centers per Capita**: Half Weight (~1.43 Points)
• Pet Shelters & Rescue Services per Capita**: Full Weight (~2.86 Points)
• Animal Protection Laws Ranking: Full* Weight (~2.86 Points)Note: This metric is based on the "2018 U.S. Animal Protection Laws Rankings" report.
• Disability-Friendliness of Employers: Double Weight (~5.71 Points)Note: This metric measures the share of people with disabilities who are employed.
• Uninsured Rate: Double Weight (~5.71 Points)

Caring in the Workforce – Total Points: 20

• Residents Who Work in Community & Social Services per Capita: Double Weight (~3.33 Points)
• Physicians per Capita: Full Weight (~1.67 Points)
• Nurses per Capita: Full Weight (~1.67 Points)
• Special-Education Teachers per School-Aged People with Disabilities: Full Weight (~1.67 Points)
• Teachers’ Care for Students’ Well-Being: Full Weight (~1.67 Points)Note: Student-teacher ratio was used for this metric.
• Counselors’ Care for Students’ Well-Being: Full Weight (~1.67 Points)Note: Student-counselor ratio was used for this metric.
• Childcare Workers per Total Number of Children: Full Weight (~1.67 Points)Note: Childcare workers attend to the basic needs of children, such as dressing, bathing, feeding, and overseeing play. They may help younger children prepare for kindergarten or assist older children with homework.
• Mental-Health Counselors & Therapists per Capita: Full Weight (~1.67 Points)
• Personal-Care Aides per Capita: Full Weight (~1.67 Points)
• Firefighters per Capita: Full Weight (~1.67 Points)
• Paramedics per Capita: Full Weight (~1.67 Points)

 Videos for News Use:

• YouTube (for web embedding National)
• YouTube (for web embedding Virginia Beach, VA)
• Raw files (for editing into clips)

 Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Bureau of Investigation, Corporation for National & Community Service, National Highway Traffic Safety Administration, Chronicle of Philanthropy, Administration for Children & Families, U.S. Department of Housing and Urban Development, National Center for Education Statistics, Sharecare, Animal Legal Defense Fund, National Conference of State Legislatures, U.S. Fire Administration, Google Ads, Community Solutions, Yelp and WalletHub research.

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Posted by: John S Kiernan

EDITOR’S RATING 4.7 / 5

The Verdict: If you’re planning a big balance transfer and have good or excellent credit, you should definitely consider the Citi® Diamond Preferred® Card. Diamond Preferred doesn’t charge an annual fee and offers 0% on new purchases and balance transfers for the first 18 months your account is open (as long as you complete the transfer within the first four months). Both of Diamond Preferred’s 0% periods are longer than average, giving you ample time to get out from under your forthcoming debt before a regular APR takes effect. The bad news is you have to pay a 5% (min $5) balance transfer fee for the pleasure of avoiding interest for 18 months.

Whether you plan to use Citi Diamond Preferred for a big-ticket purchase or balance transfer, it’s important that you do so with the aid of a credit card calculator. You can’t count on another 0% credit card being available when your interest-free period ends. And Diamond Preferred’s regular APR is pretty high. You can get a sense of whether you’ll be able to qualify for Citi Diamond Preferred by checking your latest credit score for free on WalletHub.

The Highlights

• 0% On Purchases & Balance Transfers: Diamond Preferred’s 18-month 0% intro term applies to balance transfers (completed in first 4 months), and to new purchases. So if you already have a bit of debt and foresee more in your immediate future, you could use this card to both consolidate and save.
• No Annual Fee: Your mission is to save money, not just avoid interest charges. So the fact that this card does not charge an annual fee is quite important. It not only allows you to minimize expenses, but it also makes budgeting easier, as you won’t have to inquire about when your annual fee will be assessed.

The Lowlights

• 5% Balance Transfer Fee: Let’s say that you, like the average householder, have roughly $8,000 in debt. This 5% balance transfer fee would equate to $400, which is enough to warrant exploring the viability of offers that have shorter 0% introductory periods yet lower fixed costs.
• Above-Average Regular APR: The average credit card for people with excellent credit has a regular APR of 14.45%, while credit cards for people with good credit charge an average of 20.94%. The Citi® Diamond Preferred® charges 15.24% - 25.24% (V). Considering that you need at least good credit for approval, you’re going to receive an above-average regular APR no matter where your assigned rate falls in Diamond Preferred’s advertised range.
• 3% Foreign Transaction Fee: If you were planning to open this card to pay for a lavish international getaway, or even to make a significant purchase from a foreign-based merchant, don’t. There are far too many no foreign transaction fee credit cards available to warrant forking over an extra 3% of whatever you charge, in most cases.

Other Things To Consider

• $500+ Credit Limit: You won’t receive your Citi Diamond Preferred credit limit until after you’re approved for an account. All you know going in is that your limit will be at least $500 and based on your annual income and debt.
• 24/7 Concierge Service: One of this card’s preferred elements is that it provides access to a “personalized concierge service” that is available around the clock, according to Citi’s website. Citi doesn’t offer much information about this feature online, other than it can help cardholders make travel arrangements, buy tickets to events and set up restaurant reservations, but having extra resources can’t hurt – especially when they’re free.
• Citi Private Pass: Citi credit and debit cardholders have the chance to attend exclusive concerts and events as well as take advantage of special ticket opportunities for events open to the general public through Citi Private Pass. This obviously isn’t a perk unique to Diamond Preferred itself, and you shouldn’t use the availability of such offers as an excuse to overspend. But it could make being a cardholder more enjoyable.
• No Card Rewards: If your main objective is to save money on debt, whether current or upcoming, this card’s lack of rewards shouldn’t be too much of a concern. Sure, rewards could help reduce the cost of your spending to a certain extent, but it won’t be anywhere near the amount you could expect to lose due to a higher interest rate. So when comparing your options, focus on fees and interest while considering rewards to be icing on the cake.
• Citi Bonus Cash Center: While the Diamond Preferred Card does not directly offer rewards, it does enable you to shop at roughly 400 major retailers through Citi’s online mall and earn an average of 5% cash back on purchases. Just make sure you don’t end up overpaying for an item simply to earn a bit of cash back.
• Citi Easy Deals: Citi credit card users whose accounts are in good standing are automatically enrolled in Citi Easy Deals, which offers savings on items purchased from citieasydeals.com.  You’ll start with 100 dollars in Easy Deal Points and earn 1 point for every $10 spent.  Every dollar in Deal Points you have can get you $1 off a purchase on the website.  Don’t get too excited about this, though, as we’ve seen numerous reports from consumers about Easy Deal Points being hard to use.

from Wallet HubWallet Hub


via Finance Xpress

Posted by: Anamarie Waite

A car insurance deductible is the amount of money you’ll pay out of pocket before your insurance company pays the rest of a claim, up to the policy’s pre-set coverage limit. For example, imagine that you have a $500 deductible and a claim for $1,500 to repair your car after you hit someone’s mailbox. You file a claim with your insurance company, which reviews and (hopefully) approves coverage for the full amount, minus your deductible. Then you pay the $500 deductible, and your insurance company covers the remaining $1,000 balance.

The same is true if your claim is $5,000 – you pay $500, and your insurance company pays for the rest. If your claim is $400, however, the whole repair bill is your responsibility. Your insurance company isn’t responsible for paying any bills that don’t exceed your deductible. In most cases, the insurance company will write you or your mechanic a check for the claim amount minus the deductible.

When you buy an insurance policy, you get to choose your deductible. Deductibles can range from $0 to several thousand dollars. The most common deductible amounts for car insurance policies are $250, $500, and $1,000. You can find your deductible amount listed on your car insurance declarations page, which details how much your insurance costs and what coverage you’re getting in return.

The lower your deductible is, the more you pay upfront in premiums. A car insurance policy with a $500 deductible could have a $1,500 annual premium, for example, while a policy with a $1,000 deductible might charge $1,337. In other words, a high deductible costs less up front, but you pay a bigger portion of every claim.

Before deciding on a car insurance deductible, make sure to assess your financial situation. If you have some money saved up, you could use it to pay a high deductible in the event of a collision. That way, you save money on your policy in the short-term and only shell out extra if you really need it. On the other hand, if you don’t want to use savings for car repairs, consider paying more up front for a lower deductible, so your insurance company can cover any future repair bills you might face.

You can learn more about car insurance deductibles below, including when they apply and how to choose the right amount for your needs.

1. How do car insurance deductibles work for different types of coverage?
2. How does a deductible affect insurance premiums?
3. How to avoid paying car insurance deductibles
4. Quick tips for understanding car insurance deductibles
5. Final thoughts

How do car insurance deductibles work for different types of coverage?

Car insurance deductibles work the same way for all coverage types, and you will get to choose your deductible amount for each. For example, you could choose a $500 deductible for comprehensive insurance, which tends to have lower premiums, but $1,000 for collision, which usually costs more. Many people also choose a separate deductible for windshield repair or replacement, which can have deductible options as low as $0.

Not all types of car insurance coverage apply a deductible. Liability insurance, which is required by law in almost every U.S. state, never uses a deductible. Liability insurance covers damages you cause to another person or their property in an accident.

Collision and comprehensive insurance are the most common coverage types that use deductibles. Collision insurance covers your car from accidents, no matter who is at fault. Comprehensive insurance covers damage from events outside of your control, like fires, floods, falling objects, and vandalism.

If you have coverage for personal injury protection (PIP) or uninsured/underinsured motorists, these may also carry deductibles. PIP helps cover medical bills for you and other passengers and is required by some states. Uninsured motorist coverage protects you in the event you are hit by a driver who doesn’t have insurance, or whose coverage limits can’t cover the full amount of damage caused.

How does a deductible affect insurance premiums?

Deductible	Monthly Rate	Cost Difference
$100	$250	N/A
$250	$182	27% lower than $100 deductible
$500	$129	29% lower than $250 deductible
$1,000	$89	31% lower than $500 deductible
$2,000	$84	6% lower than $1,000 deductible

Note: Rates are for a six-month collision coverage policy, per Progessive.com.

As you can see, increasing the deductible lowers the premium. But notice how little you would be saving by jumping from a $1,000 to $2,000 deductible—just 6%. The extra $5 each month in your pocket is almost certainly not worth paying an extra $1,000 out of pocket after an accident.

On the other hand, picking a $1,000 deductible over $500 would save you $40 each month, according to these sample numbers. Over the course of the six-month premium, you would save $240 with the higher deductible ($40 x 6 months = $240). That’s about half of the extra $500 you would have pay out of pocket with the higher deductible after an accident, so the $1,000 deductible policy may be a better value. This is especially true if you are a safe driver with very few claims and/or tend to be a person who manages and saves money well. The longer you can go without filing a claim, the better the value of the higher deductible policy.

Moral of the story—make sure you’re considering value in addition to cost.

How to avoid paying car insurance deductibles

If you’re at-fault for a collision, there’s not much you can do to get out of your deductible, or even to reduce the cost. You could ask the mechanic to bill the insurance company, minus the cost of your deductible, and set up a payment plan for the balance. But mechanics can legally keep your car until the debt is repaid. Or, you could ask the mechanic to bill your insurance company and waive the deductible, as a condition of getting your business. Since repair bills can be high, the mechanic may waive a $250 or $500 deductible in order to get the job. But it’s not likely. It’s also illegal for the mechanic to overcharge your insurance company to compensate for waiving your deductible.

Another reason you’re unlikely to avoid paying your deductible is that most car insurance companies simply subtract the cost from your claim. If your mechanic bills $3,000 in repairs and you have a $500 deductible, your insurer will write a check for $2,500 to cover it. Some companies will pay the mechanic directly, and others will write you a check to pay for the repairs yourself. Either way, they’ll subtract your deductible before processing the claim.

This is why it’s important to set aside the money for your car insurance deductible before something happens, especially if you go with a higher one. Put the cash in an interest-earning account. That way you’ll have the money handy if you need it, and you can earn a little extra in the meantime.

Nevertheless, certain car insurance terminology can understandably lead to some confusion regarding a policyholder’s deductible-payment obligations. That’s especially true when it comes to “fault” and “deductible waivers.”

Do you have to pay your deductible if you’re not at fault?

In most cases, you do not have to pay your deductible if another insured driver hits you. The other driver’s liability insurance should pay for your repairs. If you have collision coverage, you can choose to go through your insurance to repair your car, but you still won’t have to pay the deductible. Your insurance company will seek full reimbursement from the at-fault driver’s insurer.

However, if your damages exceed the other driver’s policy limits and you decide to use your insurance as secondary coverage, your deductible may apply. It will also apply to uninsured/underinsured motorist coverage, if you have it. In both cases, it might be possible recover your expenses in civil court.

If another person files a claim against you, your liability coverage will cover the costs of repairs. You will not pay a deductible to cover damages to the other party. But you will have to pay a deductible to get your own car fixed when you are at-fault. You can also expect to pay all or part of your deductible in situations where fault is shared between you and the other driver. You may be on the hook for any damage you cause that exceeds your policy limits, too.

Quick tips for understanding car insurance deductibles

• A deductible is what you’ll pay out of pocket before your insurer pays the rest of a claim. If you have a $500 deductible and a claim for $2,500, your insurance company will pay $2,000 of the cost. Your insurance company will not pay bills that are less than your deductible.
• You choose your own deductible for each type of coverage. For example, you could choose a $1,000 deductible for collision coverage and a $500 deductible for comprehensive coverage.
• Fault matters when it comes to paying your deductible after an accident. In most cases, you do not have to pay your deductible if another insured driver hits you. But you may have to pay it if fault is shared, and you’ll have to pay it to repair your own car if you have an at-fault accident.
• You probably can’t get around paying your deductible after an accident. If you can’t pay your deductible, you’ll have to ask your mechanic for a payment plan or put the cost on a credit card.
• Compare rates with different deductibles to get the best deal. Higher deductibles mean lower premiums, but that may not be the best bang for your buck. It’s worth it to check your rate with different deductibles, because the potential savings from raising your deductible could be outweighed by how much more you would have to pay out of pocket after an accident.

Final thoughts

Choosing a higher deductible can help you save on insurance premiums, but it’s not the only way to lower the bill. Most insurance companies offer a wide variety of discounts, like paid-in-full, safe driver, bundling, low annual mileage, long-time customer, multiple vehicles, and more. You can also reduce coverage in other ways, like lowering your policy limits or skipping roadside assistance and rental car coverage.

In the end, your car insurance doesn’t do you much good if you can’t afford to pay your deductible. The temptation to keep premiums as low as possible can be strong, but you may end up compromising value if that’s your only focus.

from Wallet HubWallet Hub


via Finance Xpress

Posted by: Adam McCann

Hunger, poverty and homelessness affect every nation — even the richest and most powerful.

According to Feeding America, food insecurity plagues every U.S. county, with 37 million individuals lacking access to adequate food. 11.8 percent of the U.S. population lives in poverty. And in the absence of more affordable housing or accommodations provided by relatives or friends, many must take to the streets or shelters. According to the National Alliance to End Homelessness, shows that nearly 553,000 people — many of them children — had been homeless at one point in January 2018.

On the heels of our report on the most charitable states, WalletHub compared the more than 180 U.S. cities based on 28 key indicators of economic disadvantage, such as child poverty, food insecurity and uninsured rates. Read on for our findings, additional insight from our panel of experts and a full description of our methodology.

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

Main Findings

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/8795/geochart-inneed.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/2SColvm>  

Neediest Cities in America

Overall Rank*	City	Total Score	‘Economic Well-Being’ Rank	‘Health & Safety’ Rank
1	Detroit, MI	65.48	1	1
2	Cleveland, OH	59.73	5	5
3	New Orleans, LA	57.56	14	3
4	Brownsville, TX	56.61	10	11
5	Jackson, MS	56.33	8	22
6	Newark, NJ	56.00	6	31
7	St. Louis, MO	55.78	29	2
8	Philadelphia, PA	55.53	7	36
9	Memphis, TN	55.25	27	7
10	Birmingham, AL	55.12	31	4
11	Atlanta, GA	55.09	3	71
12	Los Angeles, CA	54.76	16	12
13	Gulfport, MS	54.71	21	9
14	Baltimore, MD	54.65	2	107
15	Indianapolis, IN	53.96	13	33
16	Fresno, CA	53.82	4	104
17	Richmond, VA	53.79	9	61
18	Augusta, GA	53.47	19	21
19	Shreveport, LA	53.23	12	54
20	San Bernardino, CA	52.86	25	27
21	Baton Rouge, LA	52.64	18	43
22	Laredo, TX	52.30	11	72
23	Miami, FL	52.28	28	26
24	Las Cruces, NM	51.19	34	28
25	Columbia, SC	51.16	23	60
26	Little Rock, AR	51.08	71	6
27	Wilmington, DE	50.95	17	83
28	Providence, RI	50.76	24	70
29	Norfolk, VA	50.59	20	78
30	Toledo, OH	50.52	39	23
31	Hialeah, FL	50.27	32	52
32	Albuquerque, NM	49.94	48	17
33	Cincinnati, OH	49.92	42	25
34	Dallas, TX	49.91	43	19
35	Rochester, NY	49.51	30	77
36	Buffalo, NY	49.49	38	44
37	Milwaukee, WI	49.35	40	45
38	New York, NY	49.32	15	124
39	San Francisco, CA	49.21	56	8
40	Chattanooga, TN	49.12	45	32
41	Long Beach, CA	48.68	36	69
42	Montgomery, AL	48.67	37	63
43	Oakland, CA	48.55	54	15
44	Houston, TX	48.46	83	10
45	New Haven, CT	48.05	22	137
46	Stockton, CA	47.24	44	67
47	Columbus, GA	47.22	57	30
48	Mobile, AL	46.99	49	57
49	Phoenix, AZ	46.93	52	55
50	Huntington, WV	46.92	67	42
51	Jacksonville, FL	46.54	66	47
52	Tucson, AZ	46.52	55	53
53	Kansas City, MO	46.48	72	40
54	Tulsa, OK	46.47	98	13
55	Portland, OR	46.35	75	38
56	Fayetteville, NC	46.30	41	111
57	Akron, OH	46.23	53	64
58	Amarillo, TX	46.10	76	35
59	San Antonio, TX	46.02	82	41
60	Oklahoma City, OK	45.54	103	24
61	Knoxville, TN	45.49	85	49
62	Chicago, IL	45.46	46	117
63	Charleston, WV	45.45	120	14
64	Fort Lauderdale, FL	45.43	51	96
65	Spokane, WA	45.30	117	16
66	Wichita, KS	45.26	111	20
67	Lewiston, ME	45.25	64	84
68	Corpus Christi, TX	45.24	112	29
69	Fort Smith, AR	45.22	102	34
70	Boston, MA	45.20	26	161
71	Nashville, TN	45.09	77	65
72	Glendale, AZ	45.01	88	50
73	Springfield, MO	44.97	109	18
74	Bridgeport, CT	44.88	47	125
75	St. Petersburg, FL	44.83	86	59
76	Las Vegas, NV	44.80	63	88
77	Tallahassee, FL	44.60	62	98
78	Newport News, VA	44.59	79	86
79	Honolulu, HI	44.22	84	66
80	Winston-Salem, NC	44.22	60	101
81	Greensboro, NC	44.20	74	81
82	Sacramento, CA	44.09	59	114
83	North Las Vegas, NV	44.06	50	130
84	Orlando, FL	44.01	69	102
85	Lubbock, TX	43.94	106	56
86	El Paso, TX	43.87	80	94
87	Jersey City, NJ	43.87	92	73
88	Washington, DC	43.84	35	157
88	Tampa, FL	43.84	65	119
90	Santa Ana, CA	43.82	99	62
91	Nampa, ID	43.70	81	99
92	Garland, TX	43.54	101	68
93	Columbus, OH	43.48	68	120
94	St. Paul, MN	43.46	61	123
95	Dover, DE	43.43	33	162
96	Tacoma, WA	43.32	129	37
97	Grand Rapids, MI	43.29	100	74
98	Worcester, MA	43.10	58	134
99	Reno, NV	43.04	130	39
100	Grand Prairie, TX	42.95	105	80
101	Manchester, NH	42.88	87	97
102	Charleston, SC	42.72	70	129
103	Denver, CO	42.72	95	92
104	Ontario, CA	42.48	90	110
105	Tempe, AZ	42.37	110	82
106	Salt Lake City, UT	42.35	138	46
107	Louisville, KY	42.29	113	76
108	West Valley City, UT	42.20	142	51
109	Oxnard, CA	41.99	91	118
110	Irving, TX	41.98	115	89
111	Anchorage, AK	41.66	147	48
112	Fort Wayne, IN	41.35	119	108
113	Burlington, VT	41.24	94	127
114	Missoula, MT	41.23	150	58
115	Charlotte, NC	40.96	107	122
116	Seattle, WA	40.93	139	75
117	Minneapolis, MN	40.88	93	138
118	Anaheim, CA	40.82	136	87
119	Santa Rosa, CA	40.78	73	153
120	Rapid City, SD	40.53	137	105
121	Mesa, AZ	40.50	116	121
122	Fort Worth, TX	40.47	146	79
123	Modesto, CA	40.46	78	155
124	Bakersfield, CA	40.39	108	128
125	Salem, OR	40.11	128	116
126	Omaha, NE	40.08	133	103
127	Glendale, CA	40.05	131	109
128	Des Moines, IA	39.97	114	131
129	Colorado Springs, CO	39.95	134	106
130	Portland, ME	39.91	141	113
131	Austin, TX	39.88	143	100
132	Arlington, TX	39.58	152	91
133	Moreno Valley, CA	39.32	97	148
134	Huntsville, AL	39.29	124	135
135	Pittsburgh, PA	39.21	144	115
136	Port St. Lucie, FL	39.15	118	140
137	Riverside, CA	39.09	132	126
138	Garden Grove, CA	39.07	148	112
139	Lexington-Fayette, KY	38.94	125	139
140	Fontana, CA	38.83	104	154
141	Aurora, CO	38.59	140	132
142	Vancouver, WA	38.43	154	93
143	Santa Clarita, CA	38.11	89	169
144	Yonkers, NY	37.91	96	164
145	Billings, MT	37.91	164	85
146	Durham, NC	37.69	135	141
147	Boise, ID	37.66	159	95
148	San Diego, CA	36.82	126	159
149	Cape Coral, FL	36.56	122	167
150	Chesapeake, VA	35.93	145	158
151	Aurora, IL	35.81	121	173
152	Chula Vista, CA	35.69	123	177
153	Lincoln, NE	35.62	158	136
154	Oceanside, CA	35.46	127	174
155	Pembroke Pines, FL	35.08	155	146
156	Cheyenne, WY	35.08	157	143
157	Raleigh, NC	34.68	149	168
158	Juneau, AK	34.21	179	90
159	Peoria, AZ	34.08	160	147
160	Sioux Falls, SD	33.86	165	145
161	Henderson, NV	33.79	151	175
162	Chandler, AZ	33.73	161	151
163	San Jose, CA	33.46	153	176
164	Casper, WY	33.44	174	133
165	Fargo, ND	33.06	170	144
166	Scottsdale, AZ	32.85	163	156
167	Rancho Cucamonga, CA	32.48	156	170
168	Warwick, RI	32.29	173	149
169	Cedar Rapids, IA	31.18	178	152
170	Gilbert, AZ	30.81	171	163
171	Madison, WI	30.20	162	181
172	Virginia Beach, VA	29.92	175	165
173	Nashua, NH	29.91	166	178
174	South Burlington, VT	29.88	177	166
175	Irvine, CA	29.79	167	179
176	Huntington Beach, CA	29.78	172	172
177	Bismarck, ND	29.51	181	150
178	Overland Park, KS	29.12	182	142
179	Pearl City, HI	29.11	176	171
180	Fremont, CA	29.02	168	180
181	Plano, TX	28.49	180	160
182	Columbia, MD	27.91	169	182

*No. 1 = Neediest  

Ask the Experts

We asked a panel of experts to share their insight and advice regarding the changes and challenges experienced by needy groups and those who desire to help. Click on the experts’ profiles to read their bios and responses to the following key questions:

1. How are the neediest cities being helped or hurt by the Trump administration agenda?
2. How has the social makeup of people in need — in terms of age, race, gender, etc. — changed in recent decades?
3. What are the main challenges facing low-income families today?
4. Which policy interventions have proven successful in helping families achieve economic independence? Which ones have failed?
5. How can charities and nonprofits most effectively serve the poor?
6. How do the economic-mobility prospects of low-income Americans compare with their counterparts in other rich democracies?

< >

• Samuel Zalanga Adjunct Professor of Social Work, Bethel University
• Gerry Sussma Professor, Toulan School of Urban Studies and Planning, Portland State University

Methodology

In order to determine the cities with the neediest populations, WalletHub compared 182 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across two key dimensions, “Economic Well-Being” and “Health & Safety.”

We evaluated those dimensions using 28 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 highest level of economic disadvantage. Data for metrics marked with an asterisk (*) were available at the state level only.

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 determining our sample, we considered only the city proper in each case and excluded cities in the surrounding metro area.

Economic Well-Being - Total Points: 60

• Child Poverty Rate: Triple Weight (~7.83 Points)
• Adult Poverty Rate: Triple Weight (~7.83 Points)
• Unemployment Rate: Full Weight (~2.61 Points)
• Underemployment Rate: Full Weight (~2.61 Points)
• Homelessness Rate: Triple Weight (~7.83 Points)Note: This metric measures the number of homeless persons per 1,000 residents.
• Presence of Homeless Criminalization Laws: Full Weight (~2.61 Points)Note: This is a binary metric that considers the presence or absence of such legislation.
• Change in Family Homelessness (2018 vs 2017): Full Weight (~2.61 Points)
• Well-Being Index: Full Weight (~2.61 Points)Note: This metric refers to the Gallup-Sharecare Well-Being Index.
• Consumer Bankruptcy Rate: Half Weight (~1.30 Points)Note: This metric measures the number of nonbusiness bankruptcy filings per capita.
• Foreclosure Rate: Full Weight (~2.61 Points)
• Share of Owner Occupied Housing Units Spending at Least 35% of Their Household Income on Housing: Full Weight (~2.61 Points)
• Share of Delinquent Debtors: Full Weight (~2.61 Points)
• Median Credit Score: Full Weight (~2.61 Points)
• High School Dropout Rate: Full Weight (~2.61 Points)
• Undereducated Rate: Full Weight (~2.61 Points)Note: This measures the share of population aged 25 years and over who did not graduate from high school.
• Share of Children Eligible for Free or Reduced Price Lunch: Full Weight (~2.61 Points)
• “Economic Security” Ranking: Half* Weight (~1.30 Points)Note: This metric measures the state’s policy potential to improve the economic security of workers, families and retirees and is based on the Economic Security Scorecard produced by the WOW (Wider Opportunities for Women) nonprofit organization.
• Economic Mobility: Full Weight (~2.61 Points)

Health & Safety - Total Points: 40

• Uninsured Rate: Full Weight (~3.64 Points)Note: This metric measures the share of residents without health insurance coverage.
• Food Insecurity Rate: Double Weight (~7.27 Points)
• Share of Homes with Inadequate Plumbing: Full Weight (~3.64 Points)Note: This metric measures the share of occupied housing units without complete plumbing facilities.
• Share of Homes with Inadequate Kitchens: Full Weight (~3.64 Points)Note: This metric measures the share of occupied housing units without complete kitchen facilities.
• Share of Severely Overcrowded Homes: Full Weight (~3.64 Points)Note: This metric measures the share of occupied housing units that are considered “severely overcrowded”, meaning more than 1.5 persons occupy each room.
• Share of Offline Homes: Full Weight (~3.64 Points)Note: This metric measures the share of households lacking a computer and broadband Internet service.
• Share of Adults Who Needed to See a Doctor but Couldn’t: Full Weight (~3.64 Points)Note: This metric refers to the share of adults who needed to see a doctor in the past year, but couldn’t because of costs.
• Share of Depressed Adults: Full Weight (~3.64 Points)Note: This metric measures the share of adults who were diagnosed with depression.
• Suicide Rate: Full Weight (~3.64 Points)
• Crime Rate: Full Weight (~3.64 Points)

 Videos for News Use:

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• Raw files (for editing into clips)

 Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Bureau of Investigation, Centers for Disease Control and Prevention, U.S. Department of Housing & Urban Development, Chmura Economics & Analytics, County Health Rankings, National Law Center on Homelessness & Poverty, National Alliance to End Homelessness, Administrative Office of the U.S. Courts, Equality of Opportunity Project, Feeding America, Wider Opportunities for Women, ATTOM Data Solutions (RealtyTrac), Gallup-Healthways and TransUnion.

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