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Are you superstitious? I’m typically not.

But yesterday as I was typing up a post about mending holes in pants and being mid-way through a No-Spend week, I swear I felt a little bit like I was jinxing myself. I ended the post with this one sentence:

Fingers crossed there are no disasters and nothing crazy comes up! (knock on wood)

I swear I felt a little tingle in my tummy, and the hairs on the back of my neck stood up. It was like when someone is behind you and you can *feel* them without actually seeing them. I brushed it off at the time. But I sure did remember the feeling at 6:00pm that evening as I was driving home from work, when my car started dinging a million warnings and the power steering went completely out on me.

Luckily, I was able to safely navigate into a parking lot on the side of the road. I was able to call hubs to come get me, and everything was fine (no one got hurt, no accidents, etc.)

BUT. So much for that “no spend” week.

The silver lining of the story is that I still have an extended warranty on my car! Remember when I just had to use it for the first time this past summer? At the time I said I should probably cancel the warranty afterward because, honestly, who ends up using it more than once? Statistically speaking, I thought we were in the clear. We should cancel the warranty after the service and take whatever refund we were owed (since we had bundled the warranty with the car loan, it has already been paid in full).

I am now SO GLAD we didn’t! I was able to use our Roadside Assistance through our car insurance (we use and love Progressive!) to have the car towed to the dealership for the warranty repair work. I’ll also be able to use a loaner car, also covered by the warranty company, for up to 7 days. There’s a deductible that applies (it’s either $200 or $250, can’t remember at this point), but I’m sure that’s MUCH better than what I might end up paying otherwise (there’s some issue with the power steering, advanced trac, and also some warranty backup camera issues that were unrelated but will get repaired at the same time).

It’s still a huge inconvenience. Last night was a mess – super late dinner for the kids, no baths, late to bed. And this morning was tough too – with only one car we had to take the girls in early so hubs could get to his own school classes. I’m at home waiting for the tow truck (which is currently running late) and then I’ll be getting picked up by the rental car company so I can go get a rental for the week. Obviously totally interfering with my work day and I’ve had to cancel some meetings and move other things around. I’m frustrated we aren’t going to be able to have a no-spend week after all and I’m still stressed about spending extra money given our tax situation (in fact, one of the meetings I had to move from this morning was supposed to be a meeting with our CPA).

But even with the annoyances and inconveniences, I’m BEYOND GRATEFUL I still have this extended warranty and that it’s still in effect. Guys – it expires at 125,000 miles and I’m at 120,000 miles right now. This is HUGE!!! I don’t know what the total vehicle costs will end up being, but I’m thankful that my personal liability is limited to just the deductible.

Now…is it the weekend yet??? Ooof!!

How Midlife Affects Your Insurance Needs…Are You Covered?


You’ve no doubt heard of a midlife crisis: the time in life where you realize that you aren’t going to live forever. As a chance to take stock of the plans you had in your youth and square them up with where you stand now, midlife can be a time of great strife for some people who haven’t achieved their goals.

The good news is that by definition “midlife” means that you are only halfway through. That means you have just as much time left to change your situation as you had getting into it. That also means that there is still plenty of time to turn your financial ship around. If finances are an area where you have not lived up to your plans, dreams, and goals, now is the time to take the bull by the horns.

One critical way to tackle your midlife financial goals is by doing an insurance audit to make sure that you are not only managing your union bank credit card rates and wealth but also that you are protecting your assets along with growing them. Reviewing your insurance plans to ensure that you are fully protected and safe is a good place to start gaining financial control.

The insurance audit should cover all of those things that you use insurance to protect:

Health Insurance

It is not uncommon to develop chronic conditions in your 50s and 60s, which is why it is so important to choose your healthcare plan well. Make sure that you have the proper out-of-pocket caps and deductibles to fit your overall health needs. Having a small deductible is nice, but you also want to ensure that if things go terribly wrong, you have reasonable out-of-pocket costs.

Your risk for serious health conditions increases as your age does, so taking a good look at the structure of your health plan can help you to cut costs and ensure that you are getting the right coverage for any prescription, rehabilitation, or therapy needs.

Midlife means that you have to take a better overall look at your health needs and anticipate what they might be going forward. It may also be a time when you will have to make decisions about the transition between your health insurance and Medicare. Don’t make the assumption that things will be covered. If you need to purchase supplemental insurance, make sure you know exactly what will and will not be covered before the transition occurs.

Life Insurance

When you have young children, a house, and other dependents, it’s a good idea to have a hefty life insurance policy. But it isn’t inexpensive. As you get older, the price of life insurance will continue to increase unless you have a set policy. If you are paying a lot for health insurance and you aren’t supporting anyone but yourself, it really doesn’t make any sense to overpay. Unless you have someone depending on you, reevaluate your life insurance needs.

Disability Insurance

If something should happen to your income, then having disability insurance is a must. The average policy will cover about 60 percent of the income you are earning. Short-term policies will cover your costs for up to two years post-disability. Long-term policies will typically cover you until you turn 65 and you can start to collect Social Security. You can reduce your premium by shortening your benefit period if you are closer to 65.

Auto Insurance

If it has been a while since you compared rates for your car insurance, it is definitely something to investigate. Most insurance carriers consider older individuals lower-risk and will reduce premiums. Also, things like your credit score can reduce your auto insurance payments. It is worth it to call around and talk to several insurance companies to ensure that you are getting all the discounts you can. Go the extra mile to phone the carriers directly to get the discounts you deserve.

Midlife can be a difficult time emotionally for people, but it doesn’t have to be one, financially. Making sure to initiate sound changes to maximize your insurance coverage by minimizing the costs is the best way to protect your assets while still growing them.