How to Choose Your Healthcare: HMO, PPO, WTF, IDK

I’ve delved deep into the world of health insurance quite a few times, even more so after having some major ankle surgeries. I’ve delved, my friends, I’ve delved. It was a painful and frustrating learning process and insurance is CONFUSING. First, let's talk about acronyms. These are a sampling of healthcare options out there that you may be waffling between. Let me pass on the translations I've learned so far:

Health maintenance organization (HMO):

In this insurance setup, you’ll have your primary care doctor as your go-to. Everything else (think specialists, hospitals) is set up through that doctor. It’s a very common plan and generally lower cost than its close cousin, the preferred provider plan (PPO), which doesn’t have a set home base/primary care doctor.

HMOs might be great for you if:

• You’re predictable! You’re consistent!

• Your cup of doctor tea is just a regular old checkup. No fuss.

• You’re thinking about having a baby sometime soon (they’re expensive and you want all the insurance coverage you can get).

Preferred provider plan (PPO):

On a PPO plan, you’ll have a whole gang of health care providers and you can go to any of them without a referral. Think of HMO as one BFF and PPO as a giant friend circle.

PPOs might be great for you if:

• You visit specialists.

• Your medical regime isn’t always super predictable and you want flexibility without the fuss.

• You’re prone to emergency health issues.

• You’re thinking about having a baby sometime soon (just to reiterate: they’re expensive and you want all the insurance coverage you can get).

High deductible health plan (HDHP):

This plan is refreshingly clearly named. With an HDHP, insurance kicks in only after you’ve paid your full deductible (usually somewhere in the $1200 range for singles and $2500 for families). Frequently, you’ll see these plans paired with a health savings account (HSA) that allows you to contribute funds tax-free for any medical expense (such as meeting the aforementioned high deductible).

HDHP might be great for you if:

• You’re young!

• You’re in good health!

• You don’t have any recurring medications!

• You’d rather take a little risk with a high deductible if it means lower costs and possibly saving money (that is, if you have an HSA too).

When it comes right down to it, choosing a health plan is not clear cut or intuitive. Do the math. That’s right. Crunch the numbers for each health plan and your anticipated expenses in the next year to help make your decision. You’ll feel really grown up and you officially get five gold stars for being an adult.

Five tips on using your health insurance.

1. Call the customer service line. Call often, call quickly, and don’t hesitate. Insurance is really confusing to twenty-somethings (and thirty-somethings, and forty-somethings, and probably everyone)—and no shame, there wasn’t a formal training you missed. Getting on the phone with a service representative will really help make sense of your plan and anticipated costs. I once called my insurance company and the guy on the other line was so helpful he walked me through how to bill my insurance for a recurring appointment so it was $25 instead of $150 per visit. That saved me a LOT of money. It’s worth giving them a ring.

2. If you’re on a PPO, know your copays, deductibles, and out-of-pocket maxes. It should be on your insurance portal or the thick packet you’re given when you start a job. If you don’t know, call them! Figure out what counts toward your deductible and when you’re going to hit it. I hit my out of pocket max mid-way through the year after an ankle surgery and was able to get the second ankle surgery (billed to insurance at a whopping $28K) virtually free because I had already hit my max (and I don’t wish two ankle surgeries on anyone). Know when you hit your limits and plan your surgeries accordingly!

3. For recurring prescriptions, try using mail-order pharmacies. They’ll often offer a discount for recurring prescriptions (like birth control).

4. For you HSA folks out there, it’s good to remember that you get to keep your money, even if you switch jobs. The money you put into an HSA is tax free, and some folks even suggest treating it a little bit like a retirement savings vehicle. Put money into it consistently while you’re young and you’ll be able to use that money when you get old and inevitably have some health needs.

5. Look into temporary health insurance if you’re going to have a gap between jobs or life events. Plans start at as low as $28 a month and this gives you peace of mind in between insurance coverage. Even if it’s only a month, look into temporary coverage because unexpected health crises can easily suck up all of your savings.

The Sharing Economy: Rover.com

If you own a pet, it's really nice to know about Rover.

What is Rover?

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Rover is basically an Airbnb, but for pets. You can schedule walks, workweek check-ins, or boarding services while you're away and regular people will take care of your precious pet.

Why use Rover?

The website is sleek and easy to use; prices range from $25-$30 for a night of boarding (it may be higher in different areas), and it comes with a very reassuring insurance policy. That last point had car-guy husband sold. 

If you're intrigued, you can check out the site here (and of course, if you book through that link I get $20 for future services and you get $20 for your first booking. Yay).

If you prefer the personal experience to cold facts, keep on going, dear reader. I'll tell you all about it.

Our experience with Rover

A few months ago, we made plans to go visit family on the East Coast for a solid week. Car-guy husband and I love to travel and tend to go on lots of adventures. We even have our to-go toiletries prepacked and ready to go at a moment’s notice (yuppies, rejoice). But our efficiency in travel took a slight nose dive after Lola the dog joined our team.

So, I got a taste of what fretting mothers must feel like (and don’t take offense in my comparing dogs to babies, let’s be honest...they both involve taking care of slightly helpless but cute creatures and dogs are basically gateways to more responsibility...but I digress). So I had to find someplace to board Lola for a week. Yelp reviews of good kennels are tremendously helpful, but the highly rated kennels were either too far or too expensive ($45 a day just seemed too pricey, especially multiplied by 7).

For Lola the dog in particular, I wanted someplace where she could run around and also be velcroed to another human (Vizslas have the nickname of “velcro dog” for a reason). The solution: peruse Rover.com.

I had heard of Rover from an old coworker who worked there. At the time, I didn’t have a dog and just thought the whole service was cute but kind of over the top. I stand corrected: it's great.

So, I searched sitters in my area that could handle boarding and set my criteria: fenced-in yard, dogs allowed on furniture, and high star ratings.

As a first time user, I took the option to go meet the sitter and see the house in person. I decided not to book my first option (the yard was really small and the sitter flaked out on the meet-up) and instead went with my now go-to choice: my gal Monica (no idea her last name...just that she is a mom of two and a dog breeder on the side and Lola comes home a happy pup after a stay at Monica's). 

Booking was easy-peasy and the rate for boarding was $25-$30 per night in my area. It was very comparable to kennels (and often cheaper), but you know your dog will get more personalized attention with a family (velcro dogs rejoice). Rover also has very attractive Premium Pet Insurance so your pet is covered during every stay. Premium Pet Insurance covers vet bills up to $25,000 after a $500 deductible in case an incident occurs while your dog is staying with someone else. This peace of mind won my husband over and even now we often use Rover instead of other options specifically for the insurance guarantee. Plus, like all good sharing economies, a review system is built in to review sitters and read about others' experiences.

So I dropped Lola off at Monica’s house the day we were leaving. It was super easy. I didn’t have to make a specific window like at a kennel and Monica got all the details about what Lola needed (lots of exercise) and what to watch out for (counter surfing). I got picture updates during her stay (including an adorable picture of her daughter and Lola sitting on a bed with the caption "best buds"...my heart mushed a bit).  I picked Lola up, happy and healthy, and considered Rover a great success.

Additional notes:

Rover is also great in a tight time situation. We booked a sitter the day-of for a four-hour stay while we were traveling on the other side of the state so Lola could be in air conditioning instead of a hot car.

The first stay with Rover takes a little longer because you're getting to know a new sitter but it's smooth sailing from there out as you can rebook with a now trusted sitter through a super easy website and app.

Want a short-term dog? Sign up for the other side of Rover and be a dog sitter. I have parents that love dogs but aren’t ready for the commitment….I imagine Rover might be a perfect solution to the dog itch.

That link, one more time, if you're now curious: Rover for the win.

The Sharing Economy: Uber

This is the third post in a series on the wonderful world of the sharing economy. Check out the first two on Airbnb: hosting and traveling. On deck: the popular ride-sharing service, uber.

Many have already used uber, and this post is mainly directed at those who have not. I found it to be a little more scary to start than the welcoming, picture-filled site of Airbnb (though importantly, no less helpful). To the newbies, I want to say yes, you can use uber. It's easier than hailing a cab and cheaper too.*

My first uber trip was out of necessity (as was my second trip and my third), which is what makes this sharing economy so clutch. I had a pretty intense ankle surgery and couldn’t walk or drive. I had to make it to work which was only a MILE AWAY. Before uber, what would I do? Ask my husband to stay home from work to take me? Ride a knee scooter with marginal brakes down a very steep hill? Call our retired friends who live 40 minutes away to come and get me? No good options. So I signed up for uber and took my first trip. It was super easy and incredibly convenient.

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Here's how to do it.

First, download the Uber app and sign up.

It’s free to sign up  (another full disclosure - that’s my referral link. Free ride for you and free ride for me).

Set your pickup location and car type.

When you’re in the app, a map will appear of your general location. Type in an address for your pickup location or drag the map around until the pin is where you want to be picked up.

The number in the circle is the estimated time to pickup, and the cars pictured are actual nearby ubers.

Select your uber type from the options along the bottom of the screen.

The cheapest option is on the left and the most expensive is on the right (For Hire being the exception. It’s comparable to uberX rates).

A quick rundown on uber types. Note: you'll only see options available in your area. You might not see “uberHOP” or “For Hire” in your view, for example.

Uberhop: Carpool! A commuter option to share an uber for the cheapest fare. Only available along popular commuter routes in metro areas.

UberX: Point A to Point B without a fuss. These are typically sedans from the last ten years and they look fine: no dents, no scratches. They seat four. This is my typical option because it's cheap and functional.

UberSelect: For the fancy pantsys. Expect to be picked up in a nicer car like an Audi, BMW, Mercedes, or Infiniti. They’ll all have leather seats.

UberBlack: For the fantsy pantsys wanting one specific color. Yes, these cars are actually black with black leather interiors. They're typically a bit more expensive than UberSelect and their drivers will be lookin' fly.

UberXL: Great for going to the airport in a carload. These are the bigger version of UberX and seat up to six.

UberSUV: Big car. Big style. Expect Cadillac Escalades, Chevy Suburbans, or GMC Denalis. It's basically UberSelect with six seats.

For Hire: Taxis using uber technology. These are found in very limited areas and pricing is comparable to UberX.

Right then, back to it.

Enter a destination

I always check out the “fare estimate” and this will give you a ballpark of cost.  

Close out of the fare estimate and request your uber.

When uber is trying to get more cars on the road, they’ll enact “surge pricing” that makes fares more expensive (and thus drivers make more money). If surge pricing is in effect, you’ll be notified before you pay.

Pickup

After you've requested your uber, you’ll see a profile of the driver, a description of the car, and then you can actually follow the car’s location on the app until it comes to you. The driver may call you just to touch base and clarify pickup details (what corner you’re standing on, an identifying feature, etc).

The driver will pull up, confirm you’re the right person, and then go ahead and hop in! I usually sit in the back rather than the passenger seat, but that's up to you.

Drop off

That's it! Get out and be on your merry way. You don't tip - your credit card will be automatically charged (wizardry technology). You’ll also have the opportunity to rate your driver after the trip is finished.

Use uber...

• To/from the airport.

• After you’ve had a few too many drinks and can’t drive.

• In place of a taxi.

• In a city.

• To get dropped off at a show with limited parking.

A few things to keep in mind:

Uber has drawn some critics for less-than-stringent driver requirements and liability issues. Know and understand these perspectives, and trust your gut if something feels off.

It does seem that uber is really stepping up their safety with end-to-end insurance for riders and drivers, and riders can also press a button to “share their ETA” with a friend when hopping in for a ride.

Overall, I'm definitely in favor of uber as yet another success of the sharing economy and will definitely be using it again.

*Uber is cheaper than taxis in most major cities. There is not enough room here to show you all the data, but check out this cool map from CNBC for further reading on the price comparison.

The Sharing Economy: Airbnb for Travel

This is Part 2 of a sharing series. I’m a big fan of the sharing economy, because it’s clever, cost-effective, and follows the life mantra of “what makes a better story.” It’s not for everyone, but if you’re intrigued, read on!

Sharing experiment #2: booking with Airbnb

For those with a chronic case of wanderlust, I highly recommend checking out Airbnb for your next trip, if you haven't already. Airbnb is a website where people can list, find, and rent lodging. They currently have over 1.5 million listings in 190 countries, so you'll have plenty to choose from.

Six good reasons to use Airbnb

You’re on a budget.

Renting a private room on Airbnb is roughly half the price of a hotel. If you rent an entire place, it's 20% cheaper than a hotel.* Your savings get even better if you're going to an expensive city like NYC, San Fran, or Seattle.

You’re traveling with a group.

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Wham, bam, thank you ma'am (or kind sir)

Book the entire place! Take the already wallet-friendly price and split it up with your traveling companions. Not only does Airbnb give you community space to hang out, everyone could have their own room. Now that's fun.

You’re staying a few nights.

When you book a whole place, this usually means you have a kitchen and the option to cook when you’re tired of fast food for the fourth day in a row.

You want to feel like a local.

With Airbnb, you can stay in neighborhoods with character and really get a feel for the vibe of a place. True story: I stayed in an Airstream trailer in Portland and the hippies at the commune next door were making plum wine in the yard. Now that's local flavor.

You’re traveling with pets.

Airbnb has more pet friendly options than hotels. If you fall in love with a place but it’s not pet-friendly, just ask. You might have to pay extra for cleaning, but it’ll still be cheaper than dog boarding!

You love an adventure.

Want to stay in an igloo? A caboose? A boat? A tree house? A yurt? A mansion? Lucky you: they're all on Airbnb! Even if you don’t stay in a place from a children’s book, it’s still a more interesting experience than a hotel.

I’ve also found the well-rated hosts (4+ stars) go above and beyond. During a stay in San Diego, the hosts left beach cruiser bikes and beach chairs for us to use. While visiting Crater Lake, we were greeted with warm chocolate chip cookies and used the hosts' kayaks.

How to book a place using Airbnb

The Sage & Mint recipe for a good first experience on Airbnb:

• 4+ stars (at least 10 reviews)
• Book entire place
• Stay at least two nights
• Stay in walkable areas
• Travel with friends

1. Well first, you have to sign up. It’s totally free.

2. Once you have an account, you can start looking at destinations. I use the “wish list” feature quite a bit to save my favorites; it's like a Pinterest board.

3. Use the filters to limit your search to what is available during your travel.

4. You can choose to share a room, rent a private room, or rent an entire place. I am partial to booking an entire place, but renting a private room is great for a clutch last-minute cheap stay. Solo travelers - you know what’s up - use your best judgement and err on the side of caution if you end up renting a private room.

5. To book, you'll either see a lightning bolt next to the price or a "request to book" button. The lightning bolt means you can instantly book just like a hotel. The "request to book" means you'll send a request to the host and they'll confirm the booking.

   1. When you request to book, you’ll write a little note to the owner with your reason for booking. You can keep it short and sane: "Hi, I'm traveling to the area for vacation/visiting family/a Netflix binge and your place looks great!"

   2. The host will pre-approve your request and then you'll actually have the ability to book. You will get an email from Airbnb that says you can now confirm your stay. It will have the price breakdown (number of nights, price per night, cleaning fee, security deposit). You'll actually have to click a button to officially confirm. You pay when the host confirms your stay, and then Airbnb gives the payment to the host when you check in.

6. Time to travel! You’ll get more details about how to get into the place you’re staying before you leave. I’ve used key codes, keys hidden in Yale coffee mugs, and keys under the rug. No big deal.

7. Stay, enjoy, and follow instructions for how to leave the house. You don’t have to do any laundry, but some hosts ask dishes to be in the dishwasher, beds to be stripped, or heat turned down.

8. After your stay is done, you get to review the space and they owner gets to review you as a guest.

9. Start dreaming of your next vacation.

Airbnb etiquette

Breakfast: sometimes provided, sometimes not (don't count on it if you’re renting an entire place). It should say on the listing page.

Cleaning: some hosts ask for beds to be stripped, dishes in dishwasher, or heat turned down. You do pay a cleaning fee, so no heavy-duty stuff is required, but I also do tend to take better care of Airbnb places than hotels.

Food in kitchen: When in doubt, probably just don’t eat it. However, cooking supplies/spices and coffee are usually fair game.

Additional notes

Two thumbs up for traveling on Airbnb. The whole experience, from browsing to booking, lets you dream and get excited about your vacation. It’s so much more captivating and connecting that just renting a hotel room. Sure, sometimes a predictable Hyatt is just right for a vacation. For the other times, give Airbnb a shot.

*Thanks to the folks at Priceonomics - they did way more number crunching than I wanted to and have a fun interactive map.

The Sharing Economy: What I Learned After Hosting on Airbnb

This is Part 1 of a sharing series. I’m a big fan of the sharing economy, because it’s clever, cost-effective, and follows the life mantra of “what makes a better story.” It’s not for everyone, but if you’re intrigued, check out my posts and give it a whirl (Airbnb as a guest, Rover.com, and Uber reviews coming soon). 

The sharing economy isn't breaking news, but I think it is sneaking into the mainstream, and millennials are definitely leading the way. Some people are avid users and some are just getting their feet wet. Whatever side you’re on, I hope you find some useful information from our experiments in sharing.

Sharing experiment #1: Airbnb Hosting

What we did: rented our house out while we were on vacation.

Why: this was our first vacation with Lola the dog, and I wanted to soften the blow of the cost of dog boarding for a full week (which, in case you were wondering was roughly $200. Yowch. #TrueCostofLolatheDog keeps adding up...she's just so cute).

How: we signed up as hosts on the popular service Airbnb.

My anecdotal conclusions:

Legwork involved:

• Signed up as hosts on Airbnb
• Filled out the stats and description of the space
• Scheduled a photographer to take pics (Airbnb provides this really cool service for free)
• Installed lock on closet for valuables
• Ordered a key holder for the outside of door
• Bought extra towels/sheets to be an “Airbnb set”
• Put together a welcome packet with instructions
• Cleaned a lot
• Back-and-forth communication with guests

Total time: roughly 10 hours in total

Note: Airbnb gives the option to either rent a room of your house (so you would still be there) or rent your whole house (so you wouldn't be there). We chose the whole house because our house is small and we figured the hands-off approach would be our preference.

Pros of Airbnb hosting

Extra cash in mah pockets. Airbnb only takes a 3% cut from your nightly rate, so if your house rents for $100 a night, well, you can do the math for a multi-night stay. Some lovely retired folks are hosts on Airbnb for the adventure of meeting new people, but I’ll be honest: that’s not me. The best part of making extra money was that we rented our house while we were on vacation, the extra cash flow made the vacation even sweeter (we even had money left over after boarding Lola).

Cons of Airbnb hosting

 Hosting is a bit involved the first time with setup. Now that we have the outside lock, the welcome manual, and the posting up, it’s not so bad. Just keep in mind that every time you rent out your house, be prepared for a little hassle: washing dishes before you leave for your own vacation, washing sheets and towels when you come back, that sort of thing. Keep in mind that hosting doesn't mean you just sit back, relax, and earn money: it’s still work.

“You know how some people are huggers and some people aren’t? Hosting is kind of like that. I’m a hugger.”

Another con that will really vary from person to person is how much it bothers you to share your stuff. Some people will get the heebly jeeblies (which is totally fine) about strangers coming into personal space and others just don’t really care. You know how some people are huggers and some people aren’t? Hosting is kind of like that. I’m a hugger.

Additional notes: we had really wonderful first guests. They left the place super clean, were very responsive, and we had no issues whatsoever. Airbnb tries quite hard to make it a good experience for hosts (up to $1 million in insurance coverage if property is damaged or someone tries to sue you). Of course, there are bad apple guests and you have to ask yourself if the money is worth it. For some, it isn't.

We are planning on renting out our house again, but I also think a bad experience would make me stop doing it.

Overall: hosting is a good way to make money, definitely not for everyone.

Want to be a host? Click me! Full disclosure: that's totally my referral link and I totally make money off of you signing up. But then again, so do you. #twinnerwinner

The True Cost of Lola the Dog: Month One

Upon moving to Michigan and obtaining a backyard, the first thing on my list of priorities was to get a dog. Despite my pursuit of all things financially wise and frugal, this may be my achilles heel. 

As my dear car guy husband commented, “as much as you want your dog to be cheap, she never will be.” It’s true. I put together a rundown of the actual cost for the first month of ownership. These are the sticker prices of every doggie item purchased, for your future reference.

Note from me:
Yes, I am plagued with intense guilt about how it could’ve been invested wisely. In the name of truth, transparency, and education, I give you the true cost of Lola the dog.

• Invisible fence: $145
• Extra fence wire (because our neighbor is awesome and let us extend our fence into his yard): $25
• Lawn edger rental (to dig invisible fence): $26
• Extra Petsafe batteries for invisible fence: $14
• Dog bowls: $7
• Crate: $63
• License: $32
• ID tag: $16.50
• Register microchip (she already had one in): $20
• Heartworm pills for one year: $100
• Vet checkup: $42
• Kong toy: $7
• Two plastic frisbees (that were quickly destroyed): $6
• Kong frisbee (here’s hoping for longevity): $11
• Dog shampoo: $6
• Brush mitt: $9
• Poop bags for life (seriously...900 bags): $15
• Milkbones (also for life. The Amazon picture was surprisingly deceiving): $9
• Gourmet dog food (recommended by breeder and costs $50 for a full-sized bag): $14
• Costco dog food (which she will be eating from now on because you have to draw the line somewhere): $30/bag
• Lola the dog: $800

Total: $1,397.50

Gasp. I know. 

I’d like to interrupt this expense chart to talk about the price of Lola herself. We looked at both shelter animals and purebred Vizslas, and shelter animals are quite a bit cheaper ($150-$300) with many of the additional vaccinations already included. We decided to pay a higher initial sticker price because she was exactly what we were looking for  and were willing to pay more upfront for a temperament history, breeder reputation, and a good breed fit for us as a couple (and for reference, if we bought her as a Vizsla puppy instead of her being four years old, she would’ve been twice that). I am in total favor of rescuing animals and totally believe that mutts can be the best dogs. We opted to go a different route because it was my car guy husband's first dog and I wanted it to be as seamless as possible.

That said, even if your dog is a rescue (good job), you're still looking at $500-$1000 in initial doggie expenses!

Oh, and it keeps going.

Additional costs

• Coming up: obedience class: $200
• Coming up: yearly shots: $50ish (actually no idea. I'll find out in a few weeks)
• Coming up: doggie day care (only if it’s a last resort): $25/day
• Risk of a possible surgery (did you know dogs can’t digest corn cobs? Yeah, she ate a piece of one the first day we had her): $1,500-$2,000

Costs paid by her previous owner

(they left a very informative vet record)

• Spayed: $567
• Allergic reaction to bee sting (vet visit and meds): $177
• Microchip (original implant): $40ish
• Leash and collar: $25

---

When you're debating a new pet, make sure you take into account the real cost of having a fuzzy friend. They're wonderful, but just make sure you're capable and ready before taking the plunge. Once you dive in, it's real hard to turn back.

Moneybags Magoo: Parents Visiting and Salary Questions

Dear Moneybags Magoo,

My parents are coming to visit, and I’m finally at the age where I actually bring in a paycheck. They’ve always paid for me, but now that I’m making money, should I pay when we go out? How do I handle that transition?

Yours truly,

Flying-outta-the-nest-with-dolla-dolla-billz-y’all

Dear Flying-outta-the-nest-with-dolla-dolla-billz-y’all,

What a considerate question-asker you are! Never expect them to, but always be thankful if they do. If you have the means, buy for them every once in a while. If a dinner tab is too hefty, try taking the family out to ice cream or have them over for dinner at your place.

Dear Moneybags Magoo,

 What money topics are off-limits or rude to talk about with friends or family? What if I need money advice?

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Warmest Regards,

Not Emily Post

Dear Not Emily Post,

Well, you sure know how to ask tricky questions! It really does depend on your relationship with a person. For things like rent and house prices, it’s a little easier to talk about, because that information is generally public (hello Zillow!). However, it can often come across as rude and invasive to ask questions about salary, car cost, any inheritance questions, and how much a person makes. For the most culturally acceptable manners, in general don’t ask money questions of someone unless the other person brings it up (Moneybags Magoo excluded, of course: learning purposes, you know?).

However, if you are just finding your way into personal finance, do find someone you trust deeply and someone who is good with money to aid you in your decisions (I talk to my wise old tortoise father. He always knows and it is so helpful to get his perspective). Don’t necessarily ask pointed questions about their money, but inform them as much as you feel comfortable to get their wise sage advice.

Dear Moneybags Magoo,

What should I say when a friend asks me how much I make? What about when a recruiter asks me in a job interview?

Sincerely,

Cat has eaten my tongue

Dear Cat has eaten my tongue,

If it is a potential employer, avoid giving a number. List the industry average or a range (this benefits you in the salary discussion if they give a number first). If it is a friend asking, be vague or come up with a roundabout answer. A few options if they ask how much you make:

For the snarky:

“Not as much as I wish!”

“Not enough to quit my job and ride on a yacht for the rest of my life.”

“10,000 golden dubloons. The exchange rate is top secret. Sorry.”

For the sincere:

“I’m very thankful for what I make.”

“My salary is decent enough.”

For the direct:

“I’m not comfortable sharing that.”

For the passive:

“How about this weather we’re having?!”

Good luck. Always an awkward turtle, that one.

Send me your money questions! I'm ready for the asking.

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Thank you!

As always, thanks to team savvy for your splendid answers to my invasive money question asking (haha, following my own advice, I see).

Relationship Rules

Married? In a relationship? You know the sticky feeling of trying to manage finances with another cook in the kitchen. Making money decisions can be more complicated than coq au vin, but it's a necessity in everyday life.

For tips on how to succeed, check out these rules from a couple who have been married for 29 years. This list is hanging on their refrigerator, and although it's not for everyone, it can definitely be freeing for some couples if you make it your own. 

Disclaimer (for a second time): These rules aren't the gold standard by any means, though there are some gems in here. Use it as a starting point for your own rules!

Rule No. 1: Agree that neither of you can make a purchase above $75 without first consulting the other. (Sage & Mint note: our limit is $50)

Rule No. 2: Agree that there will be no secret bank accounts, no earnings that are not disclosed, no undisclosed loans and no secret credit cards. 

Rule No. 3: Join all your finances together. (Sage & Mint note: you're a team now, act like one!)

Rule No. 4: It should take two “Yeses” for any major financial decision. That means if one of you disagrees with a purchase or an investment, it won’t happen. 

Rule No. 5: Budget will be strictly adhered to, except in cases of emergency. (Sage & Mint note: #strugglebus)

Rule No. 6: Budget will be reviewed at the end of each month. (Sage & Mint note: #strugglebuspart2)

Rule No. 7: If fun money ($100 each per month) has been spent, it is spent. There will be no arguing, pouting, name-calling or fighting. (Sage & Mint note: this was a GAME CHANGER for us. Highly recommended.)

Rule No. 8: Personal money does not have to be spent in that month and may be carried over. There is no borrowing against future months.

Rule No. 9: A car fund will be established and money — no less than $50 — placed into it every pay period, to be reviewed after three months. (Sage & Mint note: or a house fund, or a vacation fund, you get the idea)

Rule No. 10: $400 ($200 each) in “magic money” will be allotted out of bonuses, with the rest going to either long-term needs or savings. (Sage & Mint note: love this idea. Brilliant.)

That's it, folks. These rules worked wonders for this couple; you can have your own set, however loose or rigid. The idea is to have a code of reference when those inevitable money disputes break out. Set yourself up for success, and don't forget date night.

This list is created by Judi and Christopher Chesley, put into an article by the amazing Michelle Singletary, and came to me by carrier pigeon from my dad. The world is so connected.

What To Do If You're Unemployed

It was a little over a year and a half ago when I lost my job. It was a mass layoff in our smallish office, and my whole team was cut. There was definitely a hug line on the way out, and some of the recently unemployed were stuffing their pockets with snickers bars to use the rest of their monthly snack balance before handing in their cards. It felt like a scene out of a movie, and I was the unfortunate soul bussing home at ten in the morning, my purse stuffed with a pencil cup and a file organizer.

That bus ride started a six-month period of unemployment that I wouldn’t wish on anyone but I wouldn’t take back either. Here are a few tips I’ve collected should you ever find yourself in a similar situation.

What to do if you lose your job:

File for unemployment. 

• You can get unemployment benefits if you were laid off, but not if you were fired or quit. If you meet this criteria, you can enjoy more confidence in yourself and also some extra money to help keep you afloat.

• The actual numbers: expect a bit less than half of your monthly take home pay. In Washington on a salary of $40K, you would see roughly $1400/month in unemployment. This continues for six to eight months (depends on the state) and stops once you get a job.

• To actually file, just Google it. You’ll find a semi-clunky government website with instructions. For Washington, it looked like this:

  • I had to fill out an online 10-question survey each week to get my straight-into-my-bank-account deposit. The most noteworthy qualifications: did I look for work that week, and did I apply to at least three jobs. The website encourages you to keep a log of the actual jobs you apply for, but no one ever asked to see mine (and should they, I still have it—all 52 pages).

  • If you can opt to have taxes withheld, do it (usually around 10%). This makes it a bit easier rather than paying taxes in a lump sum later.

Figure out your insurance ASAP.

You basically have two options (and the younguns among us have three).

• Are you under 26? Stay on your parents’ insurance!

• COBRA: don’t know what it actually stands for, but you can pay (usually a small fortune) to stay on your insurance from your old job.

• Obamacare/Affordable Care: the cheaper (and harder to sign up for) version of COBRA.

Put on your frugal pants.

• A store of six to nine months of living expenses comes in handy, but if you don’t have this stocked away we won’t dwell, we’ll just move on and make it work (and don’t make the same mistake twice).

• Are you in a tight financial bind already? It might be time to move in with the parents or get a roommate. Save yourself some money-related stress (though no guarantees it won’t add other kinds of stress during this time).

• Trim the fat. Call Verizon to plead your case. Cut the cable for the next few months. Eat in. Put yourself on a spending freeze.

Find the silver lining.

• Allow yourself some cheap adventures. You might not have a ton of money, but you are rich in time, my friend. See where the wind takes you, and remember: rice and beans are filling but cheap, and PB&J is hard to get sick of.

  • Some ideas to get you started: Have your parents visit! Go to lots of museums! Take a roadtrip! Vacation with a good friend! Go camping! Take up biking! Go to the park for a lazy afternoon! Dream a little here.

• Something to watch for: some of your friends (and sometimes strangers) will be extraordinarily kind and generous during this time. Thank you, Katherine, Becca, and Gams. I can only try to pay it forward with such graciousness.

There you have it. Hope for the jobless. Unemployment isn’t exactly great, but it’s not so bad either. Cheers and wishing you the best in unemployment!

How to Build Great Credit

Think of your credit score as a game—slightly silly and somewhat illogical. You see, credit is not a measure of your Richie Richness, it’s a measure of your financial reliability (snore). Banks and lenders use this number (somewhere between 300 and 850 on the standard scale) to determine how much money they should lend you (if any at all). The higher your credit score, the better.

A quick breakdown:

Right then, so how do you move from bad news bears to rockstar status?

Listen close, grasshopper:

1. Make your payments on time.

C’mon, this one is easy: AUTO-PAYMENTS. Technology does the remembering for you.

2. Show some commitment.

It might not be your favorite word, but credit card companies like to see a history of on-time payments. This also leaves room for a catch-22 of credit—if you don’t have credit, it’s hard to get! A tip for those in this boat, get a store credit card like Macy’s or Walmart to start out—these have laxer approval requirements. Another workaround is to get a bank credit card. If you have a good chunk of change in your bank, some will give credit based on income and current savings.

3. Don’t collect cards.

This isn’t Pokémon, friends, you don’t have to catch ‘em all. Two to three cards are probably enough.

4. Spend 30 percent or less than your limit.

This might just be magic juju hullabaloo, but I’ve heard this wisdom passed around a few times. Something about debt-to-credit ratio? We’re just playing the game.

5. Charge only what you can afford.

It’s not an extension of your income. Try REALLY hard not to use it as a crutch when you don’t have enough in your bank account. Interest sucks.

6. Lines of credit are good.

These come in the form of student loan debt, mortgages, and car payments. By making consistent payments on these additional lines of credit, you’re showing history and trustworthiness.

Now you know how to play the game, go forth and achieve rockstar status, and maybe you can even win the whole game.

Don’t know your credit score? You’re entitled to one free check a year.

#9 Pay Off Your Debt

College is great -- but gosh, education is expensive these days! The class of 2013 held an average debt load of over $30,000 per student. Yikes!

So let's talk student loans: Ideally we'd love to pay off our loans sooner rather than later, because that means you end up saving more in the long run (and golly, isn't it a long run?). But life is expensive! I know, I know!

Although this tip is way down at #9, think of it far higher in terms of priority. The sooner you pay off your debt, the more money you can save for a house, a baby, a dog, and retirement. All those grown-up life steps.

So let's look at smart moves to paying off student loans: 1. First and foremost, set up auto-deduction. Easy-peasy. You pay loans on time and it won't be quiiiite as painful as writing a check every month.

2. With federal loans, choose your repayment schedule wisely. There are five repayment options ranging from a 10-year, $50/month minimum plan to an income-based plan. Use this handy student aid guide to figure out what plan best fits your budget.

3. Prioritize based on interest rates. Pay off higher-interest rate loans first. If you have an extra chunk of change this month, chip it in to the loan that's feeding off of a double-digit interest rate. One interesting thing to note: the exception to this rule is private variable-rate loans. This means your interest rate can change. Translation: it can go up! And currently, this interest rate is relatively low, which probably means it will shoot up in the coming years, so pay off that bad boy ASAP.

4. When student loan payments end, CELEBRATE. You have moved a mountain, my friend, so please do your happy dance accordingly. Maybe you can take the money you would've spent on next month's loan repayment and take a little mini vacation. Or buy a fabulous pair of shoes. Or all the chocolate milk you could possibly drink. Go crazy, because paying off loans is a BIG DEAL.

Side note: I didn't touch on credit card debt, but you can take gems #1-#4 and apply it to your plastic as well. But girl, if you have to give up living a fabulous lifestyle to pay off your credit card debt, don't do it. Just kidding. Do it, definitely do it. And fast. Forget the faux-leopard coat and lululemon-everything workout apparel. Heres another great calculator to help you plan.

The sooner you pay off your debt, the less you end up owing! More money in the bank for you!

#5 Drive a Used Car - Part One

My dad is a car guy. My brother is a car guy. My husband is a car guy's car guy.

Dear readers, I am not a car guy. I judge vehicles by their colors. Green ones are the best. Thus, my car guy husband will inform you. He's pretty good at explaining this stuff, so let's give it a go.

Sage & Mint: Hey, husband. How do I buy a car?

Car Guy Husband: Well, first: If you own a car and it's paid off or almost paid off, it's the cheapest option 99% of the time.

Sage & Mint: Ok, but let's say I am in the market to purchase a car. Where do I start?

Car Guy Husband: You should conduct a needs analysis.

Sage & Mint: Boy car guy husband, you must be a businessman. Can you translate that last part into normal language?

Car Guy Husband: It just means you need to figure out what's important to you and what you need in a car purchase.

-Do you live in a snowy/hilly place? 4-wheel drive suddenly becomes more important.

-Is your commute awful? Great gas mileage would be nice.

-Does your body temperature run perpetually cold? Maybe you should be introduced to heated seats…

Sage & Mint: Ok, so once we figure out what we need and want, what's next?

Car Guy Husband: Next you decide your budget. The easy rule is you can usually afford to buy a car up to 20% of your salary (or your joint salary if you’re married).

Cheat sheet on how much car you can afford in a perfect utopia:

$30,000 salary = $6,000 car

$45,000 salary = $9,000 car

$60,000 salary = $12,000 car

$75,000 salary = $15,000 car

$90,000 salary = $18,000 car

Sage & Mint: I'm going to interrupt real quick. If you’re totally new to car world and don’t have a grasp of car costs, a very very basic new Ford Focus will cost about $17,000. That’s roughly $200 a month in a 6-year finance plan.

With used cars, prices are a little different. Here’s my Yelp-like pricing rundown on used cars:

$

$3,000-$8,000 cars. On Yelp, these are the McDonald's, Subways, and hole-in-the-wall-delicious-Mexican restaurants. In the car world, these are probably going to need a little work, or might have rust or a dent. They'll get you from point A to point B, but expect to have some repairs done at a local shop following your purchase.

$$ 

$9,000-$15,000. Via Yelp, these are your gastropubs and breweries. You will get from point A to point B, your car will have a smaller chance of needing expensive repair or maintenance and you might even get a sunroof. These cars are probably less than 10 years old and still have mileage under 100,000 (luxury cars not included). A big chunk of your coworkers probably drive these cars.

$$$

$15,000+. These are you romantic dinner spots on Yelp. You will get from point A to point B in style, with warm buns, and maybe even backup beeps (awesome). Expect these cars to have relatively low miles and newish, unless (again) your eye is turned toward luxury brands.

Ok, back to you Car Guy Husband:

Car Guy Husband: Right, so used cars can be a great idea for 20-somethings who don’t have tons of money yet.

Once you figure out how much you can afford, let’s figure out how to pay for it. In the ideal world, you’ll have an extra $5,000-$10,000 in the bank to pay cash, but that is unrealistic for some. If your bank account isn’t so flush, let’s look at your payment options: you can get a loan from your parents, a loan from the bank or credit union, car dealer financing, or a loan from the car manufacturer.

Parent loan: The upside is the flexibility and lower (if any) interest. The downside is borrowing from family is a sticky situation in general. Make sure all parties are in agreement on loan repayment and maybe even write out a contract.

Bank/Credit Union loan: The upside is loan rates are currently fairly low (less than 5% usually), the downside is you’re still paying a lot in interest. If you choose this route, go into your bank to get a loan pre-approved for an easier buying experience.

Car manufacturer loan: The upside is shiny deals like 0% down or a very low interest rate. The downside is they're usually only for new or certified pre-owned cars and wording can be tricky. Read the whole payment plan and make sure your interest won’t balloon after a certain number of years.

Car dealer financing: The upside is the convenience. You buy your car and sit down with a finance guy right at the dealership. The downside is they are professional upsellers, and you might end up paying more than you intended. It’s especially important to plan your payment schedule (a 60-month lease=5 years) and stick to it. Car dealers tend to push out your loan to make monthly payments more manageable. 

There you have it! Your first steps in buying a car. Up next: what cars you should buy and how to rock a dealership visit.