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Month: May 2019

  • How to Come to Grips with a Divorce

    How to Come to Grips with a Divorce

    It can feel devastating to have the person closest to you in the world no longer be in your life. Divorce is not a fun subject, and whether it was mutual or out of nowhere, you’re certainly going to need help dealing with it. After all, it represents a huge shift in your life.

    There are a number of concerns when it comes to divorce. Of course, there’s the simple stuff: who gets what, who stays in the house, who gets the dog. Then, there’s the complex stuff. Who gets the kids, who will your friends side with, how are you going to move on? Today we’re going over a few tips for coping with a divorce.

    Coping with a Divorce

    You’re Different People

    It’s okay that you and your former spouse went separate ways. You are different people, with different needs and wants and you have now gone your separate ways. If they were the one that wanted the divorce, then they’ll be happier moving forward. If you were the one that wanted it, hopefully you’ll be able to plot your new course and move on.

    Bring Your Friends and Family in

    Sometimes one of the best things you can do is just spend your free time with friends and family. Pull them in and make them aware of what you’re going through. They care about you, and they’ll be happy to spend some time with you and help you work through it. Whether that’s going out for dinner, going on a fun trip or whatever else you enjoy, just do something to take your mind off of it.

    Get a Routine

    It’s important to stay in your routine, and even to incorporate new things into your existing one. If your former spouse had you set aside time for them or their activities that is now free time, fill that time with your own hobbies. Maybe you like playing an instrument, or painting, or gardening. Whatever your hobby of choice, take your newfound free time and run with it!

    Exercise and Nutrition

    Don’t neglect your body! Make sure you’re getting plenty of exercise and eating right. This will do a few things. For one, getting exercise and eating good meals means that you’re in a better routine. Having a healthy routine is great for your mental health. For another thing, if you’re going to hit the dating scene again, you want to make sure you’re in good shape!

    Try to Stay Optimistic

    Try to stay positive. When your marriage ended, it might have felt cataclysmic. However, the ending of one chapter just means it’s the beginning of another. When your life gets upended, it’s hard to see the silver lining. However, take this as an opportunity to address the things you want to change. Clean house and get ready for a new chapter, this time with more wisdom.

    Take a Break

    If you can, try to get away for a while. Is there a vacation you’ve been wanting to go on, or a place you’d like to visit? Keep in mind, you can make whatever plans you want, now, as you’re unattached. Go on whatever adventure you’d like to go on and take a break from the real world for a spell. If you have vacation days, take some time off and tend to your own mental health.

    Things Will Get Better

    You will heal, in time. It might take you a while, but you will eventually feel normal, like your old self, and happy again. Things might seem hopeless now, but your brightest days are yet to come. You will stand in the sun again. Don’t let this stop you from enjoying the good things in life.


  • Which Credit Cards are the Best for Someone with Bad Credit?

    Which Credit Cards are the Best for Someone with Bad Credit?

    If you have bad credit, it can feel next to impossible to dig your way out. It’s hard to get approved for loans, you have a hard time saving and getting ahead, and everything can feel like an uphill battle. When you’ve got bad credit, how can you right the ship and get yourself back on track?

    One of the best ways to rebuild bad credit is to get a credit card with low fees up front and that report on your credit to all three bureaus. Ideally, you want a card that offers pre-qualification checks, too. Today we’re going over how you can rebuild your credit, and what some of the best cards for doing so are.

    Best Credit Cards for Bad Credit

    Rebuilding Credit with a Credit Card

    When it comes to rebuilding your credit, your best bet is going to be operating on a very small scale. Set yourself a small budget, something you know you can easily pay off every month and put that on your card. Maybe just get gas, or just buy groceries with the card, and nothing else. Never float a balance past a month and make regular payments.

    While you’re doing this, keep an eye on your credit. Make sure the positive changes are being reported regularly and that your credit is moving in the right direction. This ensures that you’re doing the right thing and that your credit is being repaired.

    Applying for Cards

    Don’t look desperate by sending out a huge burst of credit card applications. This is a surefire way to put a big dent in your credit. Each time you apply for a credit card, a hard inquiry is placed on your credit, which can negatively impact it for as much as twelve months. Make sure you only apply for a few cards and consider going after pre-qualification cards.

    Pre-qualified cards do a soft inquiry of your credit, which allows you to avoid the issue of having your credit tanked by repeated inquiries. Once you get your card, you can begin rebuilding your credit with it, so the soft inquiry is well-worth the effort.

    Capital One Secured Mastercard

    The Capital One Secured Mastercard is a great pick for anyone looking to rebuild their credit. The card has no annual fee, and you can set down a small amount of money up-front for a credit line of $200. That’s enough for you to buy groceries on or buy gas, and then pay off before the end of the month.

    When you make enough payments on time, you’ll even get an increased credit line that allows you to put more expenses on the card. Not to mention, you get to pick your own due date for the money. That means you can set up your bills to hit when you get your paycheck, so you’re never late on your card payment!

    Milestone Gold Mastercard

    You can set this card up to pay off bi-monthly, allowing you to keep a tighter leash on your spending and help you get into good spending habits. The card doesn’t require a security deposit and it offers $0 cash advance fees the first year. In short, if you’ve got a prior bankruptcy on your credit history, this is a card worth looking in to. Just watch out for some of the minor fees, like for adding another authorized user or late payment fees.


  • Degrees in Nutrition: Can You Get One Online?

    Degrees in Nutrition: Can You Get One Online?

    If you’ve been thinking about changing career path, you might have considered a job as a nutritionist. Or, if you haven’t maybe you are now. Work as a dietary expert or a nutritionist is very important in our ever-changing world, and it’s not hard to find work in the growing field. Today, we’re going over the career path of a nutritionist and how you can get a degree in nutrition online.

    Nutrition Degrees

    What is Nutritional Science?

    Nutritional science, the field of study one pursues in a nutrition degree, is the study of the intersection between optimal health, dietary choices and food. In short terms, nutritional science looks at the types of food people eat to see what kinds of health those foods promote.

    Nutritionists are becoming increasingly more important in the US for a variety of reasons. Firstly, the population is aging: Baby Boomers, one of the largest demographics in the country, need increased dietary attention as they age. Secondly, American lifestyles are becoming increasingly sedentary, and people aren’t getting enough good nutrition on average.

    Careers in Nutrition

    Due to these demographic factors, it’s estimated that the need for nutritionists will increase by 15% by the year 2026. This means that nutritionists will see career growth around 7% greater than the national average, according to current projections. This means that a job in nutrition is a great bet for your future and your career.

    In order to find work as a nutritionist, the average dietary professional needs a bachelor’s degree in nutritional science or a related field. This education covers a wide variety of topics, from medical science to physiology to food science. In short, it’s a rather involved field!

    Average Pay

    On average, a nutritionist working in America will make $55,000 per year. That’s roughly $25 per hour, which is not a bad median income for a bachelor’s degree! Since the pay is relatively good, the work is stable and in high demand, and the position requires only a four-year degree, work as a nutritionist is increasingly popular.

    However, not everyone has the free time to attend a four-year university to get their nutritional science degree. If you’re interested in making a change of careers to nutritionist, but don’t know how you’ll find the time to get your degree, you should consider online courses.

    Online Degree

    People with busy schedules, full-time jobs and families often can’t make the time for full-time attendance of a university to get a new degree. However, taking courses online can open up possibilities for your education. Since online courses can be taken in the evenings or whenever you have down time, you can fit them around your busy schedule more easily.

    Contrary to popular misconceptions, a degree you get online is just as valid and respectable as one you get in person. If you attend an accredited online university with a legitimate degree program, you will get a legitimate degree!

    Common Misconceptions

    Some people believe that online degrees are easier to obtain than in-person degrees, or that they’re less important. This isn’t true, though. Someone acquiring their degree online will work just as hard as a student in a classroom. Studying, writing papers and taking tests are all still parts of online course work, they’re just done on the schedule of the student, instead of the schedule of the course.

    Another common misconception about online degrees holds that they are often cheaper than in-person courses. However, this also isn’t always true. However, with an online degree, you don’t need to worry about certain collegiate expenditures, like covering a dorm room, a meal plan and a parking pass for on campus!


  • Is it Possible to Get a Doctorate Online? The Facts

    Is it Possible to Get a Doctorate Online? The Facts

    The pursuit of higher education is a noble one. However, not everyone has the time and money to set aside in order to pursue doctorate programs. If you’ve been wanting to go after a doctorate degree but you feel like your responsibilities would get in the way of going to a grad program, you’ve got options. As it turns out, you can take a doctorate program online! Today we’re going over the pros and cons of online doctorate degrees, so you can know the facts before you step into an online program.

    Online Doctorate Programs

    Doctorate Programs

    A doctorate program is a higher education curriculum that students who have a graduate degree pursue. Typically, highly skilled and complex professions require a doctorate-level degree and possessing one can lead to a huge increase in your salary and the positions open to you in your career.

    Hard to Get?

    There are a lot of myths that circulate about online doctorate degrees. The biggest of these is the myth that an online degree is easier to acquire than a degree you receive in person. However, this couldn’t be further from the truth. While there are degree mills that churn out pieces of paper for money, they are far from the reality of online schools.

    There are numerous accredited and reputable universities that you can attend online. These are full doctorate courses that offer all of the challenge and knowledge of a traditional school experience. That brings us to our next myth: the misconception that online degrees are easier to get.

    Real Degrees

    An online doctorate is a real degree. When you apply for a doctorate program, know that you’re signing up for a serious commitment. You’ll be expected to read the material, study diligently, work hard and write your dissertation. Online degrees aren’t junior versions of doctorate programs, they’re full-blown degree programs.

    Another common misconception holds that people will find an online-acquired doctorate less important or impactful than one acquired in-person. This is also an untrue narrative. As we’ve laid out, online programs that are properly accredited are REAL doctorate programs. They are just as difficult and time consuming as getting your degree while attending a school.

    Why Study Online?

    Maybe you’re wondering why someone would opt to get their doctorate online. After all, if it’s not easier or faster than getting it in person, what’s the difference? This is largely missing the point of getting a degree, though. The biggest draw to online programs is the flexibility they offer working people with many responsibilities.

    It can often be difficult to find the time to make it to campus for lectures, tests and the like. For many busy people, it’s so much easier for their schedule if they can work on their doctorate from home, on their own time. That way, they’re able to tackle the material under their own parameters and cover things at their own pace.

    How to Get an Online Doctorate

    If you’re serious about getting your degree online, you need to make a plan. Do some research, see which school looks right for you. Consider what degree path you want to take. Are you trying to advance in your career by getting your doctorate, or are you looking to switch careers? Once you’ve figured out what program you want to be in, get ready to set aside some resources.

    Be realistic with yourself. How much time and energy can you devote to the program? What’s a realistic timetable for yourself as you tackle your degree? Remember, you still want to have some free time to spend with friends and family. At the end of the day, just remember that you can take on a doctorate at your own pace when you opt to go with an online degree!


  • Hunting for the Best New Car Deals on Memorial Day

    Hunting for the Best New Car Deals on Memorial Day

    There’s something about Memorial Day weekend that just brings out the sales. For whatever reason, this time of year is incredibly popular for automotive deals. It can be difficult to find the best deals, though. Today we’re going to help you hunt down the best Memorial Day deals, so you can spend this summer rolling around in a hot new ride.

    Memorial Day Car Deals

    Types of Deals

    The most common types of deals you’ll see for Memorial Day sales are “loyalty cash” and “conquest cash” types of deals. Loyalty cash refers to money knocked off the price of a new car if you already own a model of the same brand as the dealership you’re shopping at. These are great if you love a specific car brand and just want to upgrade to a newer model.

    Conquest cash is the opposite: when a dealership offers this type of deal, it’s offering extra trade-in value for someone who trades in a vehicle of a different brand. Typically, the idea there is that, once you’re in their kind of car, you’re unlikely to want to switch brands in the future. As such, it’s a conquest.

    Finding Savings

    Don’t forget to ask for savings. There are often deals that are just for specific careers. For instance, military veterans or personnel often get a discount at car dealerships, and that discount may be even greater over Memorial Day weekend.

    Similarly, there could be increased discounts for teachers. Dealerships know that teachers don’t make the most money, so any extra discount you can squeeze out of them can go a long way! Another potential discount you should ask about is one for recent college grads. Often, dealerships will want to get recent grads into their ecosystem sooner rather than later, to get them used to the dealership experience.

    Making the Most of a Discount

    Don’t open up asking for the discount, though. Do your research before you come in, and make sure you know what a fair price is on the vehicle you’re asking for. Don’t be afraid to negotiate hard: this is one of the biggest auto weekends in the year, so the dealer is heavily incentivized to get you off the lot with the car.

    Once you’ve played hardball and gotten the price where you want it for the car, then you start talking discounts. Make sure you know what the sales and demand for the model you’re hunting for looks like. The dealership has this info, so if you don’t, you’re negotiating without all of the information. Remember, knowledge is power when buying a car.

    Coming in Armed with Knowledge

    Make sure you know your credit score, and get a few quotes on financing before you come in. If you go to credit unions and ask them about what type of financing deals you could get, you’ll have a lot more cards to play when negotiating. Once you know what kind of financing you have on option, it’s much easier to get the dealership to work with you on price.

    The most important thing is putting the ball in the dealership’s court. When you know what the going rate of the car is, what kind of financing you can get and how much discount you can get due to the holiday, you’ve got a lot of power. It’s on the dealership to offer you a better deal.

    Most importantly, don’t be afraid to walk away if the salesperson isn’t working with you. You have a ton of options for great deals over Memorial Day weekend: don’t settle for a deal you don’t like. Take your money elsewhere!


  • Why Foundation is Important for Older Women

    Why Foundation is Important for Older Women

    As we age, our skin undergoes changes. We’ve all noticed that as we get older, our skin doesn’t look the same as it did when we were in our twenties! That’s okay, though, as it’s a perfectly natural part of growing older. That said, it does mean that women who wear makeup need to adjust their makeup routine to accommodate their changing skin.

    Today we’re looking at some of the reasons why foundation is important for older women, and what types of foundation work best. Let’s talk skin care!

    Foundation Basics

    Why it Matters

    Makeup isn’t for everyone, and that’s okay. However, many people choose to wear makeup to accent their natural beauty. If you enjoy wearing makeup and you’ve noticed your foundation isn’t keeping up as you grow older, there’s a reason for that.

    As your skin ages, it begins to lack certain essential compounds that lead to elasticity and smoothness. Your skin can become drier, less elastic and less smooth over time. This means that you have to adjust the types of foundation you use to help counter the effects of aging skin.

    Top Choices

    The best types of foundation for older skin are the types that offer improvements in the tone and texture of your skin. Likewise, you want something that can do a stronger job of concealing wrinkles, lines and other marks earned through aging.

    We’re going over a brief list of some of the top-rated foundations for older women. This list is far from comprehensive, but it’s a great place to start!

    Dr. Jart+ Premium Beauty Balm

    This beauty balm from respected brand Dr. Jart is great for helping get a natural and moisturized look. Beauty balms, once popular mainly in Korea, have become a much bigger deal in America, thanks in small part to Dr. Jart’s brand. Beauty balms allow for a great amount of revitalizing moisturizer without laying on too greasy or thick, making them excellent for foundations.

    This product retails for $39 per bottle, and it’s available in a range of colors for various skin tones. It’s SPF 45, so it’s great for going to the beach or heading out for the day, too. It gets rave user reviews and is a favorite of makeup lovers.

    It Cosmetics Your Skin but Better Cream

    The name is a mouthful, but this It Cosmetics cream really gets the job done. Like the Dr. Jart beauty balm, this cream is $39 for a container, but it’s well worth that price. User reviews are glowing, with many noting that they can use this cream by itself as a foundation. The cream is said to leave the face looking awake and glowing without a thick or greasy texture.

    A huge plus in favor of It Cosmetics is that this cream is made entirely cruelty-free. While many makeup brands perform horrific tests on lab animals, this product had no cruelty involved in its production. It’s SPF 50, as well, and available in a variety of colors for different skin tones.

    Covergirl Simply Ageless 3-in-1 Liquid Foundation

    Coming in at the affordable price range of $12 for a bottle, this Covergirl foundation has a lot to love. It’s got a great, long-lasting formula that makes it good for all-day wear. It’s resistant to caking, cracking and separating, unlike some lesser foundations. It immediately works to conceal wrinkles and discoloration and looks great on any skin tone. Just pick the color that best matches your tone and you’re good to go!

    User reviews rave about the long-lasting hydration of the liquid foundation, the concealment and the great longevity. It’s even got SPF 15, for some light UV ray protection. That’s not bad for $12!


  • Degrees in Human Resources: The Right Path for You?

    Degrees in Human Resources: The Right Path for You?

    The term “human resources” refers to a rather large swath of professional opportunities and careers. There are a lot of great options out there for someone with a degree in HR, though knowing more about the career path is a great place to start.

    One of the most sought-after online degrees, degrees in HR are far-ranging in scope. There’s just a lot to learn in the field! There are degrees available at nearly every level of higher education, from associates to bachelors, all the way up to MBA degrees. Today we’re going to talk about these in a bit more depth.

    Human Resource Degrees

    Associate degree

    Seeking an associate degree in HR is a fast way to get your foot in the door. An AD is a great way to get started in an entry level HR position, such as a generalist at a larger office or a clerk in a smaller office.

    Secondary tasks such as payroll, benefits specialization and development coordination could fall to a generalist or a clerk. Of course, the pay grade of someone with this degree would be lower than someone with higher degree.

    Bachelor’s Degree

    A holder of a bachelor’s degree in HR opens a lot more opportunities for their career. You could enter into the field from any of a variety of entry points. For instance, you could come in and get work as a manager at a smaller company, or as a full HR specialist at a larger company.

    Generally speaking, seeking out a bachelor’s is a better long-term investment than an associate degree, if you can afford the tuition and extra time. Ideally, you can specialize in your HR focus so that you’re more appealing to companies as an HR specialist. Many programs offer business degrees with roughly 120 credit hours that have specialized focuses in human resources.

    Master of Business Administration

    MBA degrees with a focus in HR aren’t terribly common, and so those who hold them are highly sought-after. If you’ve got your eyes set on advancing your career through an HR path with a major company, an MBA is an invaluable asset. If you have a desire to hold a leadership position, this is the degree that will give you the training you need to do just that.

    In short, if you hold an MBA with a human resources focus, it’s unlikely you’d have difficulty holding a leadership position anywhere in the US. When acquiring your degree, consider how focused you want your studies to be. A more general MBA with a loose focus on HR allows you to cultivate transferable skills. On the other hand, a more focused path can set you apart from other candidates for sought-after jobs.

    Length of Time

    Another consideration when it comes to higher education is the amount of time it takes to acquire a degree. Generally speaking, it takes roughly two years to acquire an associate degree and four years to acquire a bachelor’s degree. MBA programs, which you take after graduating with a bachelor’s degree, can take an additional one or two years, depending on your course load and school.

    Careers

    On average, an HR specialist makes around $50,000 per year, or roughly $20 per hour. They tend to work in office settings, though there are some exceptions. Salaries can change dramatically based on education level and employer, as well as work history and experience.

    HR managers, on the other hand, make an average of $108,600 per year, or roughly $52 per hour. If that sounds like the career path you’d like to pursue, consider looking into a degree in HR today! There are numerous online programs that could be right for you.


  • Careers in Medical Billing and Coding: Online Degrees

    Careers in Medical Billing and Coding: Online Degrees

    Getting a degree online is one of the smartest things you can do when you’re looking to change careers. A very popular online degree course for new career-seekers is a career in medical billing and coding. There’s a lot to love about this career path, and today we’re going over what you could expect from a career in medical billing and coding. Let’s talk shop.

    Medical Billing and Coding

    Job Description

    What, exactly, does a medical billing and coding specialist do? Well, there are two answers to that. The straightforward answer is that a billing and coding specialist sends people the bill for the medical services they were provided. Pretty simple, right? Well, that’s just the tip of the iceberg.

    A more complex answer is that the billing specialist oversees what’s known as the billing cycle. The billing cycle is the main interaction between patients and doctors once medical services are completed. A billing specialist oversees the registration, processing, recording and handling of sensitive patient records, which makes this a very important job.

    Responsibilities

    When a patient comes in for a visit to the doctor, the billing and coding specialist has to translate all of the services rendered and activities to codes. These codes indicate a record of what kinds of medical services are being billed for. Then, this recording is sent to whoever is paying for the visit, which is usually an insurance company.

    Other than billing and entering code, specialists also handled denied claims and work with insurance agencies to understand why claims are denied. When bills are past due, specialists have to reach out to the patients or insurance agencies in question regarding the late payments to acquire the missing funds.

    Job Satisfaction

    This means most of the work a billing and coding specialist does is highly specialized and technical, but not incredibly fast-paced of inherently stressful. The work is usually done in a medical setting, such as a doctor’s office, though some specialists work independently and are contracted.

    If you’re interested in a job in the medical field that doesn’t involve directly dealing with patients, this might be a good job for you. Those with a good eye for details, strong work ethic and who enjoy clerical work are ideal candidates for billing and coding specialist jobs.

    Where You Work

    There are a number of places that billing and coding specialists work, but primarily they find their work in hospitals. Private practices are also common employers of billing specialists, as are nursing care facilities, outpatient clinics, health insurance companies and pharmacies. In short, you can find work as a billing and coding specialist in nearly any aspect of the medical profession.

    Other specialists work from home as independent contractors. While it is possible to begin a career as a work-from-home coding specialist, these cases are much rarer than working in a medical setting. That said, there are some medical billing specialists who make a living from home, just know that you likely won’t start in the field as a contractor right after getting your online degree.

    Average Pay

    The average pay for a medical billing and coding specialist varies depending on their experience, the setting they work in and what kind of work they’re doing. In general, however, a billing specialist makes an average of $34,000 per year, or around $16 per hour. That’s assuming an average amount of experience, a college degree and work in an office of some kind.

    Keep in mind, contractor work will end up paying more than full-time employment, but contract work means you need to have your own insurance and pay taxes yourself.


  • How to Save Money Renting an Apartment

    How to Save Money Renting an Apartment

    When you’re living in an apartment, you have to pay rent, which can command a premium in many places. However, there are a number of ways that apartment renters can save money and make that rent bill sting a little less each month. Here are our top tips on saving money when renting an apartment.

    Saving Money While Renting

    Stop Buying Stuff

    Okay, that header is partly a joke.

    Partly.

    Seriously, though, when you’re living in an apartment, you’ve likely got less space. As such, you need to cut back on the sheer amount of stuff you buy. This is going to help you in two ways. The first way is obvious: if you’re buying less stuff, you’re spending less money. If you’re spending less money, you’re saving money to spend on your rent. That one’s easy.

    Another big aspect of buying less stuff, overall, though, is that you’ll have more space in your apartment. Consider even having a yard sale or using eBay or Craigslist to offload the heaps of stuff you’re not currently using. After all, you probably use a way smaller section of your things than you own.

    Going Digital

    This goes hand-in-hand with the last point. If you’ve got limited space in your apartment and want to save money, consider going digital with your media collections. Yes, your vinyl collection is awesome, and your friends love your giant collection of retro video game consoles. However, you don’t have the room for that stuff, and you don’t have the money for a storage unit.

    Here’s what you can do, though: sell all of that physical media and replace it with digital versions of the same media. Video games can be downloaded online, and music streaming or downloading are both popular options. The same goes for movies: Netflix and Hulu are awesome, and your Blu-Ray collection is looking MASSIVE.

    Often you can acquire media for much less when you get it digitally, too. Not to mention, digital storage is much less expensive than buying cases, drawers and storage solutions for mounds of physical media.

    Rent Stuff

    This one goes without saying, but it’s worth noting here. You’re already renting your living space, so why not rent other big-ticket items? You might not need a suitcase, for instance, if you travel infrequently. Instead, borrow one from a friend when it’s time to take a trip. Likewise, you don’t need a carpet cleaner: just rent one!

    Now, you don’t want to rent everything. Items you’re going to use daily, or that increase in value after you buy them, aren’t good for renting. But things like movies can be rented for a low price, and the public library is a free way to read books!

    Now, you might have noticed that these tips all save you space and mean you will have less stuff laying around. This will help a ton when you move out of that apartment into your own place! You’ll be able to move yourself without needing the help of a bunch of professional movers, which can be incredibly expensive.

    Make Food at Home

    Your apartment has a kitchen, and your wallet isn’t bottomless. Eat in. Don’t go out to eat every night. Yes, it feels nice to have food brought to you, ready to eat. However, it’s prohibitively expensive to continuously go out to eat. This is a surefire way to burn through your leisure budget.

    Instead, buy groceries and make food at home that keeps well and fills you up. When you are prioritizing buying food that’s better for your wallet, you’ll often find it’s better for you, too. Produce and simple foods are inexpensive and good for your body!


  • Should You Lease a Car? Pros and Cons

    Should You Lease a Car? Pros and Cons

    When you’re thinking about a new vehicle, you’ve got some options. On the one hand, you could go the dealership and buy a brand-new vehicle. Another option is to purchase a pre-owned vehicle, which often saves you a lot of money, but means you could encounter issues left by the previous owner.

    A third option, however, presents itself in leasing. Leasing is pretty distinct from both of the other two methods for getting a car, and it can often give you the option of having lower monthly payments for a new car than a loan would offer you.

    Leasing a Car

    What is Leasing?

    Leasing is a system by which you essentially borrow a vehicle from a dealership. In short, you pay an up-front cost, called a capital reduction, on the price of the lease. This acts as a sort of down payment, and your monthly lease bill will cover the rest of the lease price. The lease is typically priced as a portion of the value of the car, and the typical lease duration is three years.

    In a sense, you’re borrowing the car for the lease duration. You pay a lower monthly bill than you likely would for buying the same car new, but when the lease ends, you give the car back.

    The Benefits

    When you lease a car, you get a brand-new car to drive around, enjoying all the nicest and newest features. You don’t own the vehicle, but you pay a lot less to keep it in the driveway and drive it around than you would be if you owned it. Generally speaking, you don’t have to worry about major repairs or maintenance, and you can usually just lease the next newest model when your lease is up.

    The Drawbacks

    That’s not the whole story on leases, though. Since you don’t own the vehicle, there are some wrinkles that don’t normally come up with traditional auto loans. You often have maximum mileage allotments that the dealership imposes for the duration of the lease. Usually, this is around 10,000 miles per year or so. If you drive a lot, this is a big mark against leasing.

    Another consideration is that when you lease, you could be charged for any small dings or scuffs the car has when you return it. Likewise, if you go over your mileage allotment, you’ll likely pay a penalty for each mile over the cap you drove the vehicle.

    Now and Later

    When you lease a car, you’re choosing to have something nice in the driveway for right now, at the trade-off of not owning anything at the end of your lease. Unlike normal car payments, when the lease is over, you give the vehicle back to the dealership and you end up owning nothing. Some leases allow you to buy out the vehicle for its depreciated cost once the lease is over, though not all of them offer this.

    A big factor to keep in mind when leasing is that the costs might add up quickly. It’s not hard to go over the mileage limits on a leased car, which could stack up to hundreds of dollars in fees and penalties when you turn the car in.

    Bottom Line

    Cars aren’t investments: they never go up in value, and they lose most of their value in the first three years of their existence. This means that leasing isn’t a bad call for someone who is simply looking to save money on a car payment for a brand-new car. However, if you don’t mind having a slightly older model, or you want to own the car outright, buying pre-owned or new cars is a better option for you than leasing.