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July 24, 2024
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The Admiral Staff
The pandemic prompted financial experts to re-evaluate the traditional advice of having three to six months of living expenses in an emergency fund, with some now recommending 12 months. While a larger emergency fund offers greater financial security, it may not be feasible for everyone, particularly those with debt or limited savings. The article outlines how to calculate a 12-month goal based on essential expenses, prioritize savings within a budget, and explore additional income streams to achieve this goal, emphasizing the importance of consistency
July 24, 2024
By
The Admiral Staff
The article offers advice on staying cool during hot summer weather without breaking the bank. It highlights the dangers of extreme heat and provides a list of symptoms for heat-related illnesses. The main focus is on free or cheap alternatives to air conditioning, including utilizing cooling centers, swimming, visiting malls, housesitting, going to the movies or library, and hanging out at coffee shops. It also suggests simple home improvements like weatherizing, using drapes, and staying hydrated. Finally, it encourages readers to consider
July 23, 2024
By
The Admiral Staff
The article explores the phenomenon of “The Giving Season” – the spike in charitable donations during the holiday season – and highlights ways donors can receive incentives and savings in return. These benefits range from standard tax deductions for itemized donations (minus the value of any received gifts) to specific freebies offered by charities like OneBlood (movie tickets and merchandise for blood donations), Toys For Tots (raffle prizes like Goodyear Blimp rides), and the World Wildlife Fund (gifts based on donation amount). The article
July 22, 2024
By
The Admiral Staff
Rising medical deductibles are outpacing income increases, leaving many struggling to afford care. The article suggests strategies to manage this, including utilizing Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), shopping around for lower prices, carefully reviewing bills for errors (which are common), proactively seeking assistance and negotiating payment plans with providers, and exploring lower-cost wellness alternatives to avoid delaying necessary care.
July 21, 2024
By
The Admiral Staff
A reader is facing $10,000 in medical bills after their insurance company retroactively reversed payments, and they’re concerned about the legality and potential consequences. The advice provided is that insurance companies can reverse payments, though time limits apply (six months in Maryland, potentially 18 with coordination of benefits). Appealing the insurance decision and notifying providers are recommended. While private companies require a lawsuit and court order to garnish wages, Maryland is not a community property state, so the reader
