Travel insurance, successful entrepreneurs, and more…

By: Kimberly Lankford

June 26, 2020

New rules for travel insurance during the summer of coronavirus

Now that some people are starting to travel and prepare for summer vacations, they’re wondering whether they should buy travel insurance to protect their trip. This Money magazine article explains how the policies work in this current situation, and whether coronavirus-related cancellations are covered.

Don’t leave a mess

Great article in HumbleDollar written by a man who was involved in settling five estates of various sizes. He explains the key lessons from his experience and steps people can take to help make the estate-settlement process go smoothly for their family members. Actionable advice from someone who has a lot of experience as a family member and executor, rather than an estate-planning attorney.

Making the leap to entrepreneurship

If you’re thinking about starting a business, this article in the Harvard Business Review by a successful entrepreneur explains key steps that can help you get started and set your priorities and advice to help you fund and grow your business.

I paid off $28,000 in student loans in three years and started a business: Here’s my best advice

Real-life advice that helped the writer pay off her student loans, set financial priorities and then start her own business. Helpful information if you’re getting started in your career — or if your children are — and are worried that you’ll never get out from under your student loans and take charge of your finances.

The promise and the peril of virtual health care

Telehealth has always been a cost-effective way to get some basic medical care without having to pay for an expensive emergency-room visit, and during the coronavirus pandemic insurers (and Medicare) have been offering extra incentives to take advantage of these virtual visits. The use of telehealth for medical and behavioral health visits has exploded over the past few months as doctor’s offices limit in-person visits and people are looking for care without leaving home. This New Yorker article explains in detail how telehealth and telemedicine works, how doctors offices have been using this technology, and what it might look like for health-care in the future.

The true cost of lifestyle inflation

Lifestyle inflation is when your expenses increase with your income. You may think you can afford to spend some more when you get a raise or other extra income, but if you aren’t careful, you could actually end up doing worse financially. This article gives some great examples of how increasing your spending when you get a raise can have a long-term impact on your finances — and what you can do to prevent lifestyle inflation.

How to reduce credit card fraud

Thieves have been making more fraudulent purchases online recently. This New York Times article includes great advice to help protect yourself from online credit-card fraud.

The IRS just made it easier to take out a loan or withdraw money from your retirement account

Michelle Singletary of the Washington Post explains the IRS’s new guidance that makes it easier to borrow or withdraw money from your retirement account for coronavirus hardships.

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