Recently I wrote about the Gardasil vaccine in an article on Geezeo titled Health Insurance Coverage. Although I have already discussed this topic, it still causes a lot of debate among people. Either families are willing to pay the large amount of money that their health insurance does not cover for the vaccine or they will shy away from the cost and leave the rest up to fate.

In case you do not know, Gardasil is the vaccine that is now being offered for girls and women ages 9 to 26 years old. This vaccine will help protect them against 4 types of HPV (a sexually transmitted disease). One important catch with this vaccine is the fact that often times insurance companies will not cover the cost. What makes this even worse is that you must receive 3 shots over time in order for the vaccine to work effectively. It really is not cheap; each shot for me cost $350 per shot…that is with none of it covered by insurance.

The new twist in this vaccine story?…Researchers are now running test to see if boys and men should also receive the vaccine to help prevent the spread of HPV. Girls will benefit from the vaccine by the chance that they may be protected from HPV and Cervical Cancer. However, boys will not benefit at all from the vaccine, but instead will hopefully protect girls from being infected.

With many parents not being able to afford the vaccine for girls, the next question is: where would they find the extra money to give it to the boys as well?

Vaccines are extremely important, but many parents say that they would be unwilling to give the vaccine to their sons if they knew that it did not provide them with any benefit but that they would still have to suffer through the possible side effects. It is understandable of course.

Another problem that they are finding with the Gardasil vaccine is that parents find the money for the first shot, but are unable to complete the other two making the vaccine unsuccessful. This is something that you should really think through before getting the first shot done. The hospital even made my mum and I go and talk to the financial advisor at the hospital just to make sure that we would be able to find the money for all 3 shots with the insurance not covering it at all.

So the biggest question is whether you would be willing to pay for a vaccine if your insurance would not cover it? And on top of that, would you pay for a vaccine that would have no benefit for your son, but would in turn be beneficial for other girls in the long run?

For many, these questions are not easy to answer. Some people struggle to find the money and others may have more than one child that might need the vaccine leading to 6 or even 9 shots that need to be paid for!

The Gardasil vaccine is not the only medical vaccine or procedure that often times insurance companies will not cover. And we are forced to make a tough decision between not receiving them at all or by possibly putting ourselves in financial debt because of them.

Photo: Belén

Related Articles:
Will You Still Receive Health Insurance When You Retire?
Insurance Options for Those Who’ve Lost Coverage
Medicare Drug Plan: What’s Covered, What’s Not

By Chelsea P. Gladden

Let’s start with the obvious: Pregnancy will cost you your figure, but just how much will it cost for you to regain it? There are a variety of answers.

Diet

If you think about it, dieting can actually save you money because you will be eating less. If you can get your baby daddy on board, splitting dinners out together can cut calories and costs. However, you just had a new baby and don’t have the time to think about anything let alone not many opportunities to sneak in a dinner out at first. In fact, it’s impossible to think about much, so you’re likely to put whatever is convenient in your mouth. There may be times you’re just happy to have found the time to eat let alone worrying about the fat grams.

For a more splurge worthy approach, diet delivery plans make eating on the go easy with little effort or forethought. Even better, they’re delivered to your door. Examples of these are The Zone diet, which would cost around $1000 per person per month for three meals and two snacks a day, for five days a week. Nutrisytem also delivers and for much cheaper at around $300 per month. If you’re breastfeeding, check with your doctor before enlisting in any plan. Of course breastfeeding is a great approach itself, burning up to an extra 500 calories a day!

The most cost effective approach to taking care of your body by eating healthy while watching the weight whittle away is to make meals in advance of the baby’s arrival and freeze them. If this sounds like too much work, companies such as Dream Dinners and Supper Solutions have the ingredients ready for you. Just visit their store, pack up meals and take them home. For those who really want to splurge, Hireachef.com is a great way to find someone to come to your house and cook for you! Pricing varies but would run you roughly $450 a week for just dinners.

Exercise

While you may be happy just to take a shower let alone find the time to break a sweat, it’s a good idea to start with a leisurely stroll around the block working up to a vigorous walk with your doctor’s permission. You could even save on jogging stroller costs and allow for daddy bonding time if the father watches the baby. Naturally, this would be the cheapest approach to exercise, however, it takes a lot of motivation.

To get moving in a group, there are programs such as stroller strides that meet during the day and allow for some adult talk with other moms while getting back in shape with the baby along for the ride at costs starting at $15 per class.

Of course there’s also yoga, Pilates and various aerobics classes offered at gyms or privately, also for fees. A gym membership will workout a dent of around $50 per month, in addition to joining fees. Private classes are $15- $20 an hour, but can come down if you buy a series of classes.

To really splurge, a personal trainer will cater to your body type and needs but will run you at least $50 an hour.

No matter the approach you take to diet and exercise, taking care of yourself will keep you better equipped both mentally and physically to take care of your child. In other words, it’s an investment worth making.

For other weighty issues, The Street.com recommends for gaining financially: The Perfect Stock for the Obesity Trend.

Exercise your right to discuss this topic! Visit Couples & Money and Financially Frugal Families.

PHOTO CREDIT: earl53 | Morgue File

For young generations today, the pressure to spend is greater than ever. Not only spending on clothes and electronics, but also spending on eating out and drinks with your friends.

But the pressure to save is also there. All people hear on the news is about saving and how difficult it will be to retire if you don’t start young.

Young generations are feeling the pressure to save early while still trying to enjoy their lives and not always stress about money. Personally, I graduated college this year with NO credit card debt, something I am extremely proud of. But for many of my peers, this just isn’t the case.

I understand that starting to save for retirement ASAP is crucial; I just wish it was a little bit easier and less stressful. Here I’m sure my mum would say – “Hannah, life isn’t easy!” But honestly, with student loans, bills, rent, food, gas, and other expenses…what is there actually left to save?

The key aspect is to find a balance between saving and spending. Something that isn’t always easy to do (and often times it feels impossible). And yes, sometimes this means that you have to say “no” to going out for a night on the town or to concert.

Putting money into a 401(k) account as soon as you start a salaried job is a great idea (and a good starting point for your retirement savings). It doesn’t matter how little you put towards it at first, at least this is moving you forward. Often times employers may even match your savings up to a certain amount. However, once this money is in your 401(k), just forget about it and put it out of your mind. That way you aren’t tempted to borrow the money from this account.

MainStreet.com explains that there are things we can all try to avoid when we are trying to continue to save even when the economy is in a downturn.

Here are their top 5 things NOT to do:
1. Don’t borrow from your 401(k) unless you absolutely need the money.
2. Don’t ignore: (a) car or mortgage payments, (b) student loans, (c) credit card bills, or (d) all of the above.
3. Want to eat out or play a few rounds of golf? Okay, just don’t put it on your credit card.
4. Don’t make pricy purchases, even if there is a sale or your fancy new toy might be a cost-saver.
5. Don’t quit your job unless you have another job lined up.

For the full article (and their explanations), click here!

Believe me; I understand what it is like to be stressed about saving. Being in the young generation just out of college when the job market and economy aren’t doing so well is not the greatest, but we just have to push through it.

My advice is to take it day by day. You can think about retirement saving before you even have a job. Just make sure when you get that job that you are saving as soon as is possible for you. Don’t worry too much! It definitely won’t help the situation. Somehow we will all get through this together and retire happily ever after!

Related Articles:
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I’m 22 and Ready to Invest – Now What?
Emotional Toll of Retirement

It is a pain to pay for health insurance, that’s for sure. In England they have universal health care. Although you have to pay for it the health care in the United States, it definitely has its benefits.

A few years ago in England my grandfather went to the hospital for a routine surgery on his knees, a surgery that the doctors would later tell us that he shouldn’t have had. After the surgery things just got worse and eventually we had to let go. However, if he was provided better advice and care, he would have never gone through with the surgery.

Here in the United States we often run into similar problems but not for the same reasons. The advice sometimes offered by doctors in the U.S. stems from the fact that they are being paid by companies that provide them with medications and products….often this is referred to as Medical Marketing. Both hospitals and doctors need funding, but sometimes they risk too much to receive it.

According to Dr. Robert Steinbrook who recently wrote for the New England Journal of Medicine:

“Most physicians in the United States have financial relationships with the industry, ranging from the acceptance of meals to the receipt of large sums of money for consulting, speaking, or conducting research.”

Not all doctors are influenced by those that pay them a lot of money, but some doctors are and your life could be at risk. Make sure you know where your doctor comes from and who they may work for. Although they might not disclose this information to you, make sure your doctor is one that is highly recommended; especially if you are having a major surgery.

Being a recent marketing graduate, I never thought of how serious marketing can be from the health perspective. When you think about it, walking into a doctor’s office you may see several pamphlets and hand-outs which discuss different medications and options you can “benefit” from. I think it is safe to say that if your doctor has these lying around then more than likely they are probably sponsored by the pharmaceutical company or manufacturer of the product.

When it comes to medications that your doctor may prescribe you, ask if there is a generic brand. The generic brands are made up of exactly the same composition; they just do not carry the name with it that they can market to doctors. Often times doctors are paid large well-known companies to prescribe patients with their particular drug. This could mean that you are paying a premium for something that you can get much cheaper (just because of the brand name on the package!).

It is really scary to think that the doctors we go to for advice and help and sometimes even put our lives in their hands could be so influenced by an outside force…maybe even put your life at risk.

Obviously for a routine check-up you are probably okay with whatever doctor you have chosen. But if you have recently received news that you might need surgery or something is more serious may be wrong with you, it is always best to have a second opinion. This second opinion should be someone who is not connected with your doctor (or sometimes even hospital) at all. Insurance companies will often give you advice on whom to go to for a second opinion if you call and tell them what you are looking for.

When I sat down and thought about how much marketing effects the world (commercials, advertisements, etc.) it really hit me how it can influence it in the completely wrong direction, causing more harm than any good. Unfortunately I still love marketing (otherwise I wouldn’t have made it my major), but it is always good to see both sides of a situation…especially one so serious.

Related:
Will You Still Receive Health Insurance When You Retire?
Plastic Surgery First, Mortgage Second
Insurance Options for Those Who’ve Lost Coverage

In China, 8 is an extremely lucky number and is said to bring with it wealth and good fortune. This is probably one reason why the Olympics also start today where 8 repeats itself 3 times!

So, with number 8 being lucky, you can also see why so many couples are excited to get married today.

According to an article on MainStreet.com, weddings are up 545% today, compared to the average number of Friday August weddings. The funny part is, usually weddings are slightly discounted if you have them on a Friday vs. a Saturday because it is harder for people to attend due to work and other priorities.

The average wedding costs $27,852 for an average day. But on a day like 8/8/08 you can see why the supply and demand make the costs rise. Not only do you have to plan to spend more for such a premium date, you also have to plan well in advance otherwise the venue, photographer, and time that you want may not be available.

From an article on MSNBC.com, couples are just stopping with the 8/8/08 date. They are continuing the number 8 throughout their entire wedding including 8 course dinners, 8 bridesmaids, an 8:08pm first dance time, the list goes on!

Will we see this trend continue throughout the next few years? My prediction is yes. With 9/9/09 only 13 months away, people really need to start planning this wedding now. Although it doesn’t hold the same luck as 8/8/08, people are still looking forward to it.

My friend from England is getting married on Oct. 9th next year. Our first question is why she didn’t choose 9/9/09 instead…her reply? So many of the venues she was looking at are already sold out. Although she may have enjoyed it, it seems as though people were ahead of the ball and thought about this date much before her, maybe after they couldn’t get their 8/8/08 date…?

The downfall also with the 9/9/09 wedding?…It is on a Wednesday. If you thought it was hard for people to attend your Friday wedding, it will be much harder to allow people to take a few days off for a Wednesday wedding.

I understand the fascination about an 8/8/08 wedding…and believe me if I was getting married I’m sure that the thought of this specific date would cross my mind as well. However, just be sure that you take into consideration your budget when planning your wedding. You don’t want to get so caught up that you over-spend and afterwards have to find a way to pay off the bills.

Congratulations to anyone who may be getting married today! And hope the lucky 8 works for you!

Photo: Charmaine Swart

Related Links:
Prenup Agreement…Is It For You?
How To Do Throw A Great Do-It-Yourself Wedding
Tips on How To Throw a Green Wedding

Have you seen the movie The Bucket List with Jack Nicholson and Morgan Freeman? If not, you should! It’s a comedy about two guys who make a list of things they want to do before they “kick the bucket.” It is actually quite funny and takes a light hearted look at death.

In an article on MainStreet.com, The Bucket List is described in the following way:

In the film, the two seniors—the independently wealthy Nicholson and the not-so-wealthy mechanic Freeman—embark on Nicholson’s private jet and travel around the world, making pit stops in India, China, Tanzania, and other far-flung destinations. They stroll around the Taj Mahal, ride across the Great Wall on motorcycles, go on safari in the Serengeti and ultimately rack up a bill of $105,730 according to an estimate by the Los Angeles Times.

However, not all of us have that much money to spend, but we should all have our own personal bucket list for what we want to accomplish before we die.

Mine would include something like the following:
• Go skydiving in Hawaii
• Travel to Australia, New Zealand, Fiji
• Backpack through Europe
• Work on Habitat for Humanity
• The list goes on and on…

However, although these are more light-hearted topics and fun, there are some more serious issues that people also need to consider before they die.

As my parents get older, different topics arise in the house that had never been discussed before. It is scary to think of my parents getting older, but the truth is that it is still comforting to know that they want to be prepared.

There are obviously many things that need to be dealt with as you get older and further more before you die. Nobody wants to think about death, but when it happens, it is definitely better for everyone close to you that you were well prepared. It makes the decisions that they have to make much easier.

Some documents and things that you should do before it is too late…
Or in other words, a more serious bucket list:

• Last Will and Testament – This one is a MUST HAVE. You do not want to die without a will. In your will you state where you want all of your assets (money, home, etc.) to go. In the case that you have children, it also provides them with a legal guardian so that you do not have to worry about who they will be with when you are gone. Check out this other Geezeo article about the Importance of Your Will.

• Advanced Health Care Directive – This document states what you want to happen if you have a terminal illness. It is hard for your loved ones to make the decisions for you, so in this document you state what you want to happen if this is the case. Such as if you want to be on medication, life support, or a feeding tube to prolong your life.

• General Power of Attorney – This document gives someone power to handle all of your financial affairs if you are unable to. You want to make sure your debt is paid off and everything is handled in case you are unable to do so.

There are many other documents that could be added to this list, it is your choice which you think you need. Make sure that after these documents are signed and dealt with that you put them in a fireproof safe or safety deposit box in case anything unexpected happens.

Also, make sure to include some fun things in your own bucket list as well! Not all of it has to be documents and legal things to cover; try traveling the world, flying a plane, or bungee jumping out for size!!

Photo: Scott Liddell

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Retiree Health Coverage on the Decline
How to Plan Spending in Retirement
How To: Save for Specific Goals

When people consider retirement they automatically think of the financial planning and uncertainty that often comes along with your retirement. However, many are quick to overlook the emotional toll that retirement can add to you.

When people retire often they are left with a feeling of asking themselves, “What now?” It is a really heavy question. After years of working a job and having a daily routine, many are not really sure what to do when this routine suddenly changes.

In an article on CNN.com, psychologist Dr. Dwight Moore explains that retirement has several stages with the first one being excitement and usually lasts around a year or so. During this time, those who have just retired find themselves enjoying their free time and often taking trips that they have always wanted to go on.

Dr. Dwight Moore explains that after this initial stage, people often feel a sense of identity loss and then fear. Often times after retirement you just need to find out what fits your personality best. Instead of allocating time for your job, you must now allocate your time to enjoying the rest of your life!

Some things you might like to do after retirement:
1. Travel – This does require financial planning, but fit it into your budget and go somewhere you always dreamed of going.
2. Spend more time with family/grandchildren – Some move closer to family, others just visit more often.
3. Continue your career (just on a smaller level) – Take a “fun” job that you always wanted to do.
4. Join a club or discussion group – There are so many groups you can join that fit your interests, many join book clubs to discuss books they have read and find new books they hadn’t considered reading. Even discussions/blogs online can keep your interest.
5. Spend more time with your significant other – If you are both retiring at the same time, this is a great time for you to spend quality time together and re-connect by doing something fun and entertaining.

A big thing to consider after reading all this, is that you should prepare not only financially by psychologically as well. You don’t want to all of a sudden get caught up with a sense of loss. Remember that this should be a happy and “free” time in your life; you don’t need the stress of being un-prepared.

For some the transition may be easy and for others it may be a lot harder than they predicted. Being prepared can help you out a lot. Planning out a new daily routine may help you overcome the sense of not knowing what to do now that your job is done.

Photo: Scott Liddell

Nobody really wants to think about retirement. But the truth is, you really need to consider all the important options and lifestyle choices you must make BEFORE the paychecks stop coming. You want to be prepared when that day comes, not struggling to figure it out once it happens.

Some aspects of retirement you should start to consider (the earlier the better!):

1.) Saving vs. Spending – This is obvious. There will be no retirement without saving some money each month. But the difference between saving and spending the same amount of money is significant. In an article from our partners at BankingMyWay.com, Jeffrey Strain writes about Spend $10 Today, Be Out $100K Tomorrow.

In this article Jeffrey Strain explains the following:

“If a person were to save $300 a month (approx. $10 a day) and invest it to get a 5% yearly return, that person would have $20,402 in the bank after five years. On the other hand, if a person ends up spending $300 a month more than he has and puts it onto a credit card that he doesn’t pay off over the same 5 year period, that person will owe $36,259, assuming a 26% credit card interest rate. After five years, the difference between saving $10 and spending $10 each day results in a $56,661 gap in net worth between the two.”

When you look at it this way, it is easy to see how much money you are able to lose, even though spending $10 a day does not seem extravagant.

2.) Keep Your Will Updated – This is extremely important. Although many people (along with retirement) do not like to consider their own death, a will is your only way to make sure things run smoothly when you are gone. It also helps your family through the hard times if all of your decisions are put on paper and they don’t have to struggle to figure out what you would want. Check out this Geezeo article to get more information on the importance of your will.

3.) Lifestyle – Again, this may seem obvious but your savings really determine what type of lifestyle you will lead after you retire. Many people underestimate how long they will live and also how much to save per month. If you want to be able to live the same type of life, make sure not to underestimate these important aspects! You want to be able to travel and live an easy life…not struggle to make ends meet.

4.) Where To Live/Housing – This one is obviously no easy decision. Will you stay in the same house? Should you move to a community living area? Or do you want to move closer to your families? Or how about moving to warmer weather climates? All of these are important questions to consider and the current housing market does not make the decision particularly easy. According to an article on MainStreet.com by Lauren Tara LaCapra, it was found that baby boomers could really struggle with the housing market drop because it will be harder for them to change their spending and saving habits compared to those that are of a younger generation.

5.) Taxes – Regardless of if you have a steady income or not, you will still be affected by current tax levels. For instance some states have income taxes but will not tax your retirement income or your social security. Do some research; maybe you want to live in one of these areas to save some money!

These are just a few things to consider but obviously there is much more! Just make sure to plan EARLY. Being prepared for the unexpected will help you out the most in the long run.

Photo: Michael Connors

There are contracts for many things; home ownership, buying a car, opening a bank account, etc. Employment contracts are extremely important to the safety and stability of your career. There are many companies that still do not have new hires sign a written contract. The reason for this…? – Many employers like to have the flexibility to be able to fire whomever they believe is not performing efficiently without being bound by a contract.

Although many people believe that an offer letter is a good enough form of a contract since it usually states your salary and certain aspects of your job, this is not a binding contract and has many loop holes. It also does not cover ALL the aspects regarding your employment at the company.

Employment Contracts Work For Everyone Involved
Signing a contract is not just beneficial for the employee but also for the company that they are employed by. A contract makes sure that all the terms and conditions of your employment are what you thought they would be. By signing your employment contract, you and your employer are in agreement with the correct terms. Make sure you are to read your contract carefully so as to not overlook anything you may disagree with. A good contract ensures that promises made by the company to you will be kept.

What Should Your Employment Contract Include?

* The position you are being offered at that you have accepted (this may also be what some of your daily tasks will include).

* The salary (or compensation) that you have agreed upon with your employer.

* How long you will be employed for or if your employment is “at will” (this means you can quit at any time or be fired at any time that is not illegal).

* Other things that should be included are with regards to how much sick and vacation time you will receive, what paid holidays you get off, etc.

* There may be other terms/conditions that your employer may include…make sure to review all of these!

Who Signs the Contract?
Both you and your employer should sign the contract after you have reviewed it to make sure everything is correct. Afterwards, make sure you keep a copy of your contract in a safe place in case any problems arise regarding your employment (this should be done with any important paper work).

Employment contracts are important to make any disputes or controversies run more smoothly. You don’t want to get caught in a nasty legal battle with your employer in case anything regarding your employment changes. An employment contract helps to smooth out many wrinkles that can occur with your career since your income is such an important part of your life.

Most importantly, make sure to review the entire contract before signing! Although you may trust your employer and think everything is correct, you want to be sure that you are not signing to anything that you may not agree to in the long-run.

If any changes are to be made to your contract, there must be a re-negotiation between yourself and your employer and a new (revised) contract must be signed.

Check out our Career Groups on Geezeo to look for any other questions that you may need answering!

Photo: Dave Wicks

A will is probably one of the last things that someone wants to sit down and write. It really is not an easy task. How do you put your life onto paper? How do you decide who will take care of your children when you are gone? None of these are easy decisions, but it is better to take care of the specifics while you can and not leave any issues unanswered.

Why do you need a will?
A will makes sure that all of your property goes to the people that you want it to…this includes everything from your home, to your expensive jewelry, to everything as small as a book that was important to you or someone in your life. According to bankrate.com, 7 out of 10 Americans die without having composed a will. Although some people don’t feel they have enough to put into a will, writing one makes things run more smoothly for those you leave behind.

When does a will take effect?
A will only takes action upon your death. This means that you are able to change and revise your will as you please up until you are gone. Many people make sure to revise their will (or at least look at it) as often as they feel the need (maybe once a year) just to make sure nothing drastic needs to be changed.

According to an article on TheStreet.com about Writing Your Will, the person writing the will must be of “sound mind” and free of “undue influence.” This means that nobody can force you to put anything in your will that you don’t want to by threatening you. TheStreet article also states that your will must name all of the beneficiaries (those who will receive property or money) in your will and be signed by two witnesses who are not beneficiaries.

What will happen with the will?
When you are gone, in your will you will have appointed an executor of your will who will be responsible in making sure everything is carried out the correct way. The person you choose (lawyer, friend, etc.) should know that they are the executor and understand all of their responsibilities.

What about your children?
In the will, if your children are still minors you must make sure to find a legal guardian for them that you know and trust. This is one of the most important reason people write wills – to make sure their children will be okay.

A will is not something you want to put off until further into the future. If you have a house, money in savings and children, it is important that these all go to the people that are important to you in case anything does happen. Although a will is not something you will enjoy writing, it will give you peace of mind knowing that it is written.

Photo: Álvaro Daniel González Lamarque - Montevideo, Uruguay