Tag: financial risk

Ditch the Premiums? A Guide to Self-Insurance
January 22, 2025 Off

Ditch the Premiums? A Guide to Self-Insurance

By The Admiral Staff

The article explores “self-insurance,” an alternative to traditional insurance where individuals or businesses set aside funds to cover potential emergencies instead of paying premiums. While self-insurance offers benefits like increased cash flow, potential investment earnings, and avoiding rising premiums, it also carries risks, including the potential for a single emergency to deplete savings and the need for disciplined financial management. The article suggests considering high-deductible plans or Health Savings Accounts as alternatives and emphasizes the importance of assessing personal financial risk tolerance before opting

The Hidden Trap of Store Credit Cards: Deferred Interest Explained
October 3, 2024 Off

The Hidden Trap of Store Credit Cards: Deferred Interest Explained

By The Admiral Staff

Store credit cards offering “deferred interest” can be deceptively risky. While appearing to provide interest-free payment plans, failing to make minimum payments or fully pay off the balance by the promotional period’s end triggers high interest charges (potentially up to 27% APR) on the entire purchase. Millions of financially struggling Americans are particularly vulnerable to this trap. If already burdened by deferred interest charges, consolidating debt with a low-interest personal loan, potentially through a service like AmOne, can