| Volume 134 Number 9 |
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The People’s Lawyer’s Tip of the Day
Making the minimum payment on your credit card can cost you. If you have a $3,000 balance at 18% APR, paying the minimum will take 431 months to pay off and cost over $7,000 in interest. Click here to calculate the real cost of your credit cards. http://www1.cardtrak.com/cardtrak/calc/payment.amp
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Southwest Airlines: We won't overbook anymore
Southwest really doesn't want a United situation on its hands. CEO Gary Kelly announced Thursday that Southwest will no longer overbook its flights, ending a practice that sometimes leaves paying passengers without a seat. United is still working to clean up the mess. The airline said Thursday it will offer up to $10,000 to passengers who voluntarily give up their seat when too many people show up for a flight. Southwest is taking it one step further and plans to end overbooking outright by May 8th.
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Your Money
Most wish they'd listened to Mom and Dad about money. Six in 10 adults say they'd be wealthier today if they had listened to their parents. The big miss: 85 percent said they wished they had started saving money from an earlier age, as their parents recommended. "The easiest way to think about it is with compounding, the money you save earlier is worth more than the money you save later said Geoffrey Sanzenbacher, a research economist at the Center for Retirement Research at Boston College. The longer you wait, the less time your savings have to grow, meaning you'll need to set aside more to hit the same target. Click here for more.
For the Lawyers
Automobile PIP insurance does not cover transportation costs. The Oregon Supreme Court considered whether the PIP medical benefits included the insured plaintiff’s transportation costs to receive medical care. The court held that PIP benefits for the “expenses of medical * * * services” do not include an insured’s transportation costs for traveling to receive medical care. Dowell v. Oregon Mutual Ins. Co. (Oregon 2017). Click here for more.