Find Your Unclaimed Money
When searching for your unclaimed money there are a few things you should know to ensure you FIND ALL the MONEY owed to you:
Most unclaimed money searched are conducted by entering your name and searching to see if there is money reported as unclaimed money under your name. Search by your legal name AND variations of your legal name. Bradford Jones may be listed as Brad Jones or B. Jones. When you search a good database they will do this for you automatically.
Don't Look Only in Your State!
Many people look only in their states database for unclaimed money. The problem is, companies do not always report your money in your state of residence. This is especially true if the company that turned over the money did not have an address for you or it is an inheritance. Search in a database that has money from ALL STATE and FEDERAL databases This will give you a wide search, without you having to individually search 60+ databases!
Don't Be A Selfish Searcher
Search the names of family and close friends to see if they are owed money as well! Chances are they haven't looked for themselves.
Use a QUALITY database when you conduct your search
A "quality" database is a database that
- Has money from ALL STATE and FEDERAL databases
- Searches your name AND name variations for you
- Updates its database frequently
- Provides information on claiming your unclaimed money
- Offers you a Free Search
to see if there is any money owed to your name before you have to enter the database
Searching for your unclaimed money does not have to be difficult. Following the above tips will help ensure you find the unclaimed money owed to you and your family!
Medical Expenses - Save Money and Be Prepared
Setting Up An Account
The first thing you need to do is to set up a savings account for medical expenses. Most banks and financial institutions allow you to associate one or more savings accounts to your checking account so you can transfer money from one account to another in order to build up savings for whatever purpose you choose.
Setting up an account for medical expenses will let you be prepared for unexpected circumstances. Moreover, the savings account will pay you an interest rate for the money deposited on a monthly basis. Though the interest rate may not be as high as that of Certificates of Deposit, truth is that the money deposited into your savings account is freely available whenever you need it while with CDs you need to wait till the term ends in order to collect your money.
Setting A Percentage Of Income Aside
Each month you need to set aside a portion of your income and deposit it into this new account. The amount of money you can set aside doesn't have to be fixed but it should be a small percentage of your income every month. For instance, you may destine 2% of your income (before costs and taxes) and let it build up on that account as time passes.
If for any reason, on a particular month you can't deposit that percentage or you can only set aside a smaller amount, you need to compensate the following month by making some sacrifice and setting aside a bigger amount. It shouldn't take you more than two months to compensate any reduced or missing deposit. That way you will soon build up enough savings to afford any medical procedure and save money on it by paying in cash upfront.
Seizing The Benefits Of Tax Deductions
Payments made to physicians and medical companies that do not imply certain elective treatments are tax-deductible up to a specific amount and therefore, when the time comes, you can save thousands of dollars on taxes by taking advantage of these deductions.
If you are not sure on how to do this or you don't do your taxes, then you can easily check with your accountant which type of deductions you can benefit from. Chances are that if a professional is already taking care of your finances, you are already utilizing these deductions, but nevertheless, you don't lose anything by asking.
The first thing you need to do is to set up a savings account for medical expenses. Most banks and financial institutions allow you to associate one or more savings accounts to your checking account so you can transfer money from one account to another in order to build up savings for whatever purpose you choose.
Setting up an account for medical expenses will let you be prepared for unexpected circumstances. Moreover, the savings account will pay you an interest rate for the money deposited on a monthly basis. Though the interest rate may not be as high as that of Certificates of Deposit, truth is that the money deposited into your savings account is freely available whenever you need it while with CDs you need to wait till the term ends in order to collect your money.
Setting A Percentage Of Income Aside
Each month you need to set aside a portion of your income and deposit it into this new account. The amount of money you can set aside doesn't have to be fixed but it should be a small percentage of your income every month. For instance, you may destine 2% of your income (before costs and taxes) and let it build up on that account as time passes.
If for any reason, on a particular month you can't deposit that percentage or you can only set aside a smaller amount, you need to compensate the following month by making some sacrifice and setting aside a bigger amount. It shouldn't take you more than two months to compensate any reduced or missing deposit. That way you will soon build up enough savings to afford any medical procedure and save money on it by paying in cash upfront.
Seizing The Benefits Of Tax Deductions
Payments made to physicians and medical companies that do not imply certain elective treatments are tax-deductible up to a specific amount and therefore, when the time comes, you can save thousands of dollars on taxes by taking advantage of these deductions.
If you are not sure on how to do this or you don't do your taxes, then you can easily check with your accountant which type of deductions you can benefit from. Chances are that if a professional is already taking care of your finances, you are already utilizing these deductions, but nevertheless, you don't lose anything by asking.
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