Category: Insights

Escaping the Poverty Mindset: 5 Habits Holding You Back
October 31, 2024 Off

Escaping the Poverty Mindset: 5 Habits Holding You Back

By The Admiral Staff

The article discusses how financial habits developed during times of scarcity—a “poverty mentality”—can hinder financial progress even after circumstances improve. It highlights five common habits to break: paying only the minimum on credit cards (suggesting MoneyLion to lower interest rates), automatically overdrafting (urging to decline overdrafts and use Credit Sesame for credit improvement), delaying investing (recommending Robinhood for commission-free investing and free stocks), lacking life insurance (suggesting Bestow for affordable term life policies

Lock in Savings: Why Life Insurance is Cheaper Than You Think
October 11, 2024 Off

Lock in Savings: Why Life Insurance is Cheaper Than You Think

By The Admiral Staff

The article argues that it’s financially smarter to purchase life insurance sooner rather than later, especially when young and healthy, as premiums increase with age. Term life insurance can be surprisingly affordable, with some companies offering rates starting as low as $11 a month, and quotes obtainable without a medical exam. Securing a policy now can provide financial security for your loved ones and cover important expenses like mortgages or children’s education.

Tipping in the Carpool: A Family Food Fight
October 8, 2024 Off

Tipping in the Carpool: A Family Food Fight

By The Admiral Staff

A reader is struggling with her boyfriend and mother’s refusal to tip for carside meal service, which bothers her due to her work in the food industry. The advice is to offer a couple of dollars as a tip directly to the server, separate from the bill her boyfriend or mother is paying. If this causes conflict, she should drop the issue, as arguing is unproductive when they are paying. The author emphasizes letting go of worrying about others’ opinions and enjoying the meal.

Beyond the Ring: Financial Planning for Modern Couples
September 19, 2024 Off

Beyond the Ring: Financial Planning for Modern Couples

By The Admiral Staff

The article highlights the increasing prevalence of unmarried couples and the financial complexities they face due to the lack of legal protections afforded to married couples. Without marriage, navigating issues like asset division upon separation, Social Security benefits, and inheritance can be challenging. The article advises unmarried couples to proactively address these concerns through legal contracts like domestic partnership agreements, carefully structuring property ownership (favoring joint tenancy with rights of survivorship), updating beneficiary designations on accounts, and creating comprehensive estate planning documents including wills, healthcare proxies, and

Beyond the Cost: 6 Ways to Get a Free or Low-Cost Mammogram
September 11, 2024 Off

Beyond the Cost: 6 Ways to Get a Free or Low-Cost Mammogram

By The Admiral Staff

Early detection is key to stopping breast cancer, and women over 40 should consider regular mammograms. Fortunately, numerous options exist to access free or low-cost screenings, including coverage under the Affordable Care Act, programs from organizations like the National Breast Cancer Foundation and Susan G. Komen, government initiatives like the National Breast and Cervical Cancer Control Program, and reduced rates at local imaging centers, especially during Breast Cancer Awareness Month.