Why we treat some forms of money as less ‘real’ than others – csmonitor. com

Time-shares and recreational vehicles often are pitched as a way to save on future vacations. Housing benefit for single mum Anyone who has owned either knows that’s not necessarily true. Dual housing benefit First-time RV buyers, for example, often underestimate the costs of maintaining, repairing and fueling their rigs. Housing benefit eligibility criteria Time-share newbies can be gobsmacked by rising annual fees, the hassles of trading their units and the difficulty of shedding unwanted time-shares.

The math really turns sour when either purchase is financed. Online housing benefit form Developer financing for time-shares typically carries interest rates of 15% or more. Single parent housing benefit rules RV loan rates can be lower, but loans can stretch 10 to 20 years, inflating the cost of the purchase by 20% to 50%.

A brand-new 2017 Fleetwood Storm RV costs six figures; we picked up a 1998 model with less than 7,500 miles on it a few years ago for $15,000. Can i get housing benefit with no income Similarly, “used” time-shares sell on the secondary market for as little as a penny, although higher-end locations may cost a few thousand dollars, versus an average of $22,240 for a time-share bought “retail.” Foreign currency

We loosen the purse strings on vacation because we want to relax and not stress over every purchase. Savings housing benefit As a result, six out of 10 people overspend their summer vacation budgets, according to a survey last year for Citi ThankYou Premier Card. How is housing benefit worked out Add in confusion about exchange rates, and it can feel like the foreign currency in your hand is just play money.

Ways to keep it real: Check exchange rates before you leave, so you have a general idea of what your dollars should be worth, then use a calculator or a currency exchange app to check prices on the fly. Housing benefit payments Be smart about where you exchange currency; some are better deals than others. Housing benefit online calculator Use a credit card that charges no foreign transaction fees. Housing benefit in uk Health care costs

High-deductible insurance plans are supposed to make us more careful about our health care spending, because we have to shell out more of our own money before insurance takes over.

It’s hard to be careful, though, when it’s difficult or impossible to predict what that care will ultimately cost. Housing benefit department Medical providers charge wildly different amounts for the same treatments, and what they charge may be wildly different from what they’ll actually accept. Can i claim housing benefit online (Witness the recent $16,800 bill we got for a colonoscopy that insurance finally settled, in full, for $350.) What high-deductible plans can do is cause people to put off seeing the doctor, which ultimately can result in much bigger bills for treatment.

All kinds of brain fails are to blame for this: status quo bias (we want to keep the money in our pockets), loss aversion (it can be painful to reduce our lifestyle, or spend less on stuff we want, because of health care costs) and hyperbolic discounting — the benefit of keeping our cash seems much greater than the possible future benefit of good health.

The solution is to use mental accounting, another thinking flaw, to your advantage. Calculate my housing benefit If you opt for a high-deductible plan, make sure that you keep enough cash earmarked in savings to cover that deductible and that you use it to stay current on your health care.

We may not be able to change the ways our brains are wired, but we don’t have to let that wiring cause us to make stupid decisions about money.

Liz Weston is a certified financial planner and columnist at NerdWallet, a personal finance website, and author of “Your Credit Score.” Email: lweston@nerdwallet.com. Housing benefit application form online Twitter: @lizweston.