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Medical Debt: An American Struggle

RevCycle

Another reason why Americans have so much medical debt is that many Americans have high-deductible health insurance plans. These plans have a low monthly premium, but they have a high deductible, which is the amount of money that the insured person must pay out-of-pocket before their insurance starts to pay.

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Business Loan vs. Personal Loan: Which Should You Choose?

CreditStrong for Business

For example, you can’t use one to consolidate your personal and business credit card debt or improve your personal residence. Tax Deduction If you use a term loan for business purposes, the Internal Revenue Service (IRS) lets you deduct the interest portion of your monthly payments from your company’s taxable income.

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How Do You Learn Money: 35 Financial Literacy Terms You Should Know

Due

Additionally, a balance sheet assists in making informed decisions regarding investments, credit, and overall financial planning. Credit Score Based on your credit history, this is a number that lenders use to evaluate the risk of lending you money. Budgeting is essential, as it helps allocate resources efficiently.

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How Freelancers Can Prepare for Coronavirus

Fundera

You’ll be happy to know you have insurance in the event that you’re slapped with a sky-high medical bill. Unlike traditional employees where taxes are already deducted from their paychecks, freelancers must set aside state and federal taxes themselves. Open a Low-Interest Credit Card. Unemployment Insurance.