Make Sure You Choose Your Family Health Care Insurance Wisely

Operating Room

For all the millions of people in the world who don’t work, freelance, or are semi self employed, they take on the ultimate responsibility of finding their own family health care insurance.Unfortunately we live in a society nowadays where any and all medical care is somehow influenced by what sort of health insurance you either do or don’t have.If you can afford great insurance, then you have nothing to worry about.  Anything that happens – you’ll be covered.But if you’re looking for insurance on your own, how do you know you’re getting the kind of coverage you should have?  How do you know if you’ve selected a terrible provider?  Choosing poor service could end up costing you thousands of dollars out of pocket … [Read more...]

The Top 5 Tips for Avoiding Inheritance Tax

British Pounds

The United States isn’t the only place in the world where people have to worry about how they will pass on their life-long fortune to their heirs.  The English have similar problems and rules written within their tax codes that can complicate how an inheritance is handled after a loved one passes away.The interesting thing that a lot of people don’t really understand: It doesn't matter whether a person has paid the basic rate of tax for a lifetime.  They will become a higher-rate taxpayer posthumously if their estate is worth more than £325,000 upon death.While that may sound like a high threshold, it means thousands of homeowners in the south of England could be hit by IHT solely because of their ownership of … [Read more...]

So Long AAA! Lowering the Cost of Car Insurance in My House

Wooden Car Model

What do you say to the car insurance company you’ve had for the past 10 years when they won’t budge on their rates?Don’t let the door hit your butt on the way out!That’s exactly what I forced to say recently to my insurance provider, AAA, when they refused to negotiate down on the cost of car insurance for our household.  Even though we gave them the chance to hold our business, we ultimately had to come to the decision to shop around only to discover that there were far better rates for basically the same amount of coverage.Here’s what happened.  Reducing the Cost of Car Insurance: Frequently in the MMD household, we like to choose one bill from our expenses and pick on it.When the mortgage bill seemed too high, … [Read more...]

Using Blogs to Learn Great Basic Financial Planning Skills

Basic Financial Planning

When I first became an adult with a family and mortgage, I knew that I would have both a responsibility and obligation to make sure that our household was always protected.  That meant not only just working hard and earning a decent wage, but also making sure I at least understood basic financial planning enough that I would be able to engage in some of the many ways to grow your income.My ambitions started out with reading lots of the best money books.  I would go through page after page trying to find the magic equation for getting rich.  By purposely picking books that were written by millionaires themselves, I thought I would be able to learn from their methods and reproduce their success. … [Read more...]

Tips for Good Health and How It Can Reduce Your Life Insurance Premiums

Biker On The Road With Motion Blur by Sura Nualpradid

The following post was provided by a guest contributor.  If you are interested in being a guest contributor for My Money Design, please feel free to contact me.Buying life insurance is a common sense purchase that needn’t be the reason for too much soul searching, but there’s no reason why the process can’t be an opportunity to take stock of a few things. In fact, in terms of your health and wellbeing, it can make excellent financial as well as personal sense to think about a few of these things and follow some tips for good health.Many – but not all - life insurance companies will take certain health factors into account when calculating your premiums. Some – such as your age and gender –are beyond your control, but others include … [Read more...]

How No Physical Life Insurance Would Be Better Than Nothing

no physical life insurance

The following post was provided by a guest contributor.  If you are interested in being a guest contributor for My Money Design, please feel free to contact me.Why do we put off buying life insurance? Is it because it’s complicated, we’ve heard bad experiences about it, we don’t know which type to buy, or how much we need? Believe it or not, for some people it is simply because they don’t want to go to the doctor or have their blood drawn.Even though that may sound silly, but it only takes one excuse to keep you from doing what you should. Fortunately the industry offers a product known as no physical life insurance. By not requiring a physical, you can just buy the life insurance online or over the phone without any medical … [Read more...]

Should I Sell My Structured Settlement? Some Reasons Why You May Want To

sell my structured settlement

Want a chance to win $1,000 in cash? Keep reading and check out the free contest at the bottom of the post.Have you ever heard of someone being awarded a large amount of money (from a lawsuit, lottery, etc) and wondered if they receive it all at once? Chances are … they usually don’t.Most of the time, the payment is broken up into smaller payments over a fixed duration of time. So for example, instead of receiving $500,000 all at once from a lawsuit, the plaintiff may receive $2,000 each month for the next 30 years.Putting it all together, this type of payment is called a structured settlement. … [Read more...]

Optional Extras to Consider for My Home Contents Insurance

Home & Contents Insurance

The following post was provided by guest contributor Chris Illingworth. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.When I think about making changes to my home contents insurance policy, it's usually to get a better deal and reduce the premiums for the year. But bear in mind that cheaper isn’t always better. Unless you get a quote for exactly the same amount of coverage, it can be difficult to accurately compare quote to quote.Not getting everything I actually need from my home contents insurance policy is where I can get myself into a lot of trouble. While one quote may appear cheaper, it may actually be missing additions that I'll actually end up using later on when I … [Read more...]