Having sufficient coverage and uninsured motorist protection is crucial due to the rising number of drivers without insurance.
It's advisable to use travel rewards points instead of letting them accumulate, as they can be devalued over time and credit card portals often have higher prices compared to booking directly with airlines or hotels.
Deep dives
Insurance rates increase, leading to more uninsured drivers
Auto insurance rates have been rising, causing more drivers to opt forgoing coverage altogether. Roughly 6% of drivers on the road are now driving without insurance, which is the national average. With rates increasing, it's important to have sufficient coverage and uninsured motorist protection to protect against uninsured drivers.
Challenges of redeeming travel rewards
Redeeming travel rewards can be frustrating, as credit card portals often have higher prices compared to booking directly with airlines or hotels. It's important to check the cash price on other sites to compare and decide whether to use points or pay cash for the best deal. Points can also be devalued over time, so it's generally better to use them rather than letting them accumulate.
Abuse of generous return policies
A recent trend of returning items to Costco after a long period of use, such as a couch after two and a half years, has brought attention to the abuse of generous return policies. While it is allowed, it goes against the spirit of the policy and can have negative consequences for both customers and the company.
The impact of money stress on physical and mental health
Financial stress can have a significant impact on overall health, both physically and mentally. Studies have shown that individuals facing financial stress are more likely to experience higher risks of heart disease, depression, and other illnesses. It's important to manage money stress and seek professional help if needed.
Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: personalized retirement plans on the rise, armchair stock picking, Disney/Hulu/ESPN+ password sharing crackdown, “I’m great but everything is terrible”, are you rich?, money stress, payday lending on steroids, unethical Costco customers, you’re going to want uninsured motorist coverage, and reward redemption restraints.
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