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 … [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 … [Read more...]

Why No Physical Life Insurance Might Be Right for You

no physical life insurance

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 intervention at … [Read more...]

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

sell my structured settlement

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. Investopedia defines a structured settlement as: While we often focus on building … [Read more...]

Which is Better – Term or Permanent Life Insurance? – Part 2


In Part 1, we reviewed the fundamental differences between Term and Permanent Life Insurance. Basically Term is cheaper but it expires and gets more expensive as time goes on. Permanent life is way more expensive, but it lasts forever and has the potential to build up cash value. We concluded with me learning a fact about life insurance that made me question my Variable policy. I’ll explain below what exactly that was and how it caused me to request two new quotes so I could crunch the numbers to determine whether the Term or Variable Life Insurance policy was truly the better deal. … [Read more...]

Which is Better – Term or Permanent Life Insurance? – Part 1


Some of you may wonder “What in the world does life insurance got to do with my personal finances?” The truth is that it plays a more significant role in your money than you think for 2 reasons: 1) Life Insurance is about taking care of those you leave behind. Do you have a spouse? Children? Dependents? If something were to happen to you, who would take of the bills? Pay the mortgage so they can stay in their house? Pay for your kids’ college? Life insurance is part of your safety net for protecting those you love. 2) Choose poorly and you can significantly over-pay! There are … [Read more...]

Year-End Financial Checklist

Daily Organizer

The end is near! The end of the year that is … And with that, December is a good time to get you finances in order and get ready to settle with the tax man. Here are some tips to get yourself ready for another year: Set Your Budget for Next Year: Remember, a budget is simple: • Money In – Money Out > 0 = Success. The best way to do this is to create a table with 12 columns; one for each month. Start by listing your income towards the top. Then list all your bills and expenses. This strategy is usually a little more effective than just doing one generic monthly budget because it … [Read more...]

What Should Be in Your Safety Net?


You don’t think twice to lock your doors, look both ways before crossing the street, or turn off your electronics when you’re not home. So why is it that so many of us are one disaster away from a financial catastrophe? That’s where a “Safety Net” comes in. By definition, a safety net is a term used by financial planners to describe a number of different things you should have to protect your family and your finances. But a safety net should be much more than just a few extra thousand bucks you’ve got saved in case aliens take over the world. A TRUE safety net could encompass a whole lot … [Read more...]