Realizing that you’ve lost your wallet can be a scary experience. Suddenly, you find yourself faced with the horrific feeling that someone somewhere has access to all of your personal information. You scramble to remember exactly what was in your wallet and where you saw it last. What a mess!
Although nothing can eliminate the worry and inconvenience that is associated with losing your wallet, your best bet is to get things back to normal as quickly as possible. Since you don’t know where your wallet is, you’ll have to assume the worst and cancel everything that the wallet held. In a few simple steps, you can get on with your life with a minimal amount of worry.
Determine exactly what was in your wallet. Hopefully, you have kept the number of credit cards and identification cards as low as possible. Regardless of the quantity of things lost in your wallet, you’ll want to create a comprehensive list as quickly as possible.
Contact all of the issuing agencies and alert them of your loss. A quick call to your bank and credit card companies will allow them to inactivate your numbers. Customer service phone numbers can be found on your monthly statements. Now there won’t be any concern that someone is using your accounts to fund their purchases.
Call the police and report your wallet as lost. Although the police department probably won’t be able to do anything to find your wallet, they will be able to provide documentation recognizing that your wallet is lost. In the event that someone starts fraudulently using your information, you’ll be glad to have that report to submit to your accountholders.
Replace your identification. Pay a visit to your state’s DMV to get a new driver’s license or state identification card. You should also mention to the DMV representative that your old license has been lost. They’ll be able to make any necessary notations related to your old card number.
Report that your personal information has been compromised to each of the three credit bureaus. They will be able to place an alert in your credit file to keep anyone from opening new accounts in your name. Follow up with the agencies a few times by requesting a copy of your credit report and closely examining it for any problems.
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Anytime you discuss financing a home or obtaining a mortgage, you’re certain to be told how advantageous it is to avoid needing private mortgage insurance. But, what you may not be told is what exactly private mortgage insurance is. Isn’t insurance usually a good thing? Why does this insurance have such a bad reputation?
Private mortgage insurance (PMI) is the insurance required by lenders when the borrower has to borrow more than eighty percent of a home’s appraised value in order to finance the home. PMI is used to guarantee that the lender will be paid in full if the borrower defaults on the loan. The premiums for this insurance vary from insurance agency to insurance agency, but are often as high as $1,500 per year. In most cases, the premium is paid to the lender as part of the homeowner’s monthly mortgage payment.
The substantial increase to your monthly payment caused by PMI is a huge part of the bad reputation that accompanies PMI. The incremental amount can put a hefty strain on a family’s finances when every dollar counts. And, unfortunately, the average family will never feel any benefit from this insurance. After all, PMI is only called into play if the homeowner is unable to meet his monthly payments and the house is foreclosed upon and sold for less than is owed to the lender.
If you are required to pay PMI premiums as a part of your mortgage, there are two important things to keep in mind. First, PMI is only necessary until you have paid enough towards the principal of your home loan to reduce the outstanding balance to less than eighty percent of your home’s value. Once you have made enough headway in paying down your mortgage, you can order a new appraisal of your home’s value and ask your lender to cancel your PMI. The one-time cost of the appraisal will more than pay for itself as you save your premium payments.
Finally, with advent of a new 2007 tax law, many taxpayers are able to deduct the cost of their PMI premiums from their income taxes. Although the deduction won’t alleviate all of the financial stress that comes with making PMI payments, it will put a little bit of money back into your pocketbook. Be sure to tell your tax preparer if you are paying PMI premiums and ask him if the deduction will apply to you.
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Expecting parents are often advised to prepare themselves for major expenses when their new baby arrives. No matter how much you plan, however, nothing can prepare you for the sticker shock you will experience once you start clothing, feeding and diapering your little bundle of joy. Fortunately, the love and affection you’ll feel for your newest family member will more than make up for the pinch you’ll feel in your pocketbook.
Although every penny you spend on the baby is well-spent, you may feel that you should be a partial owner in Huggies or Pampers by the time your little one is ready for toilet training. You can mitigate some of your expenses by taking advantage of every opportunity you get to save money on diapers. You may have to invest a little of your time, but you’ll reap significant savings on your diaper purchases.
Sign up for Manufacturer Mailing Lists – Major diaper brands often allow you to join their mailing lists by registering with their websites. A few minutes at each site will allow you to receive coupons via the mail or the internet. You may even receive coupons monthly.
Clip Coupons – In addition to manufacturer’s coupons you receive by signing up at the company’s website, diaper coupons are regularly included in local Sunday papers. Peruse your paper’s coupon circulars each week to find coupons for your favorite brands.
Be Flexible – Being able to take advantage of sale prices and coupons for many different brands will greatly increase your savings. Maybe Huggies diapers are on sale one week; the next week’s sales feature Luvs. If you’re not too devoted to one specific brand, you’ll always be able to find a sale.
Shop Around – Be prepared to do some leg work when looking for the best place to buy diapers. You may find a great price at your local wholesale club. But you might a better deal by combining a sale price with a coupon at another store. By shopping around and combining discounts, you’ll always know where to get the best price for your diapers.
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