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Is Life Insurance Part Of Your Financial Plan?

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Is life insurance part of your financial plan? If not, you’re not alone. For many people, life insurance simply isn’t a priority. They think it’s not important or that it’s too costly.

Life insurance is a way to help protect your loved ones from financial burden should something happen to you. If you carry any debt or have people who rely on your income to make ends meet, you need to think about buying a life insurance policy. It can help bridge the gap of your lost wages until your family gets on their feet.

Before buying a plan, think about how much life insurance coverage you need. Most people don’t buy enough to fully protect their families. As a general rule, take your annual income and multiply it by the number of years you’d like your family to receive support. You may also want to consider adding extra for funeral costs, outstanding debts, your mortgage, and college funds. It’s always better to leave behind too much than not enough.

If you’re putting off buying life insurance because you can’t make sense of the different options, do a little research or talk to a financial planner. Get the facts to help you make an informed decision about life insurance. Many plans have a lot of features and quirks you may not have thought about.

Want to test your knowledge of life insurance policies? Take this simple Health IQ quiz about life insurance to find out how much you really do know and what you need to learn.  Those who score well also have the opportunity to apply for Health IQ’s special rates on life insurance, which helps health-minded individuals save on their life insurance premiums.

 


Life Insurance For The Rest Of Us

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Nobody really loves talking about life insurance, except maybe for those selling it to you. However, even if it’s not the most interesting topic, it is something that you should discuss with an informed insurance provider. If you have family members who rely on your income, life insurance is a necessity. In reality, there is never a bad time to talk about, shop for, and research life insurance policies.

One of the best reasons to get life insurance sooner rather than later is that you could end up with a better rate. That is, when you are healthier and sign a long-term policy, you can get a better deal. The goal of life insurance is to protect your family in the case of your death, whether it be expected or out of the blue. Leaving your family behind without a policy can lead to financial difficulties. Of course, money is the last thing you want your loved ones to worry about in case of death. With a secure policy, your family will be able to focus on what really matters.

Shopping for life insurance might not be exciting, but it is even more stressful if you are being pressured into a policy that you don’t know much about. If you do a little research and know some of the important state laws related to life insurance, you can shop and buy with much more confidence. Take this Health IQ quiz if you want to learn a little more about how state laws have an impact on life insurance.

About Health IQ

HealthIQ’s mission is to improve the health of the world. In pursuit of this mission, they’ve created over 2,000 quizzes and worked with innovative insurance companies to create financial rewards for health conscious people. To date, Health IQ has helped thousand triathletes, vegans, runners, and other health conscious people secure billions in life insurance coverage, and they hope to expand to other financial rewards in the near future.


Ways to Make Money Fast

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Are you caught in a pinch and need some extra money? We may be faced with a situation in our lives where we are in a financially tough situation and this is something that’s common – there’s nothing to be ashamed about it and you are definitely not alone. A lot of people struggle to balance bills and other expenses and sometimes, they end up broke and need some quick cash to get back on track.

There are ways to get money quickly aside from taking out more loans and some may be easier compared to other ones. These are meant to get you through your difficult time so here’s what you can do:

Drive for ride-sharing services. There are several opportunities in these itself. If you have a car, this is a quick way to make cash. As long as you have a clean driving record and the authorization to work in your area, you can consider this type of industry. The hours are also very flexible so the choice is yours.

Sell items on Craigslist. A lot of people also turn to this option once they find themselves in a tight situation. Just look around your home for items that can be sold such as TV, authentic sneakers, electronic gadgets or books, you can make money quick this way too. Just make sure that the items you sell are still working or slightly used and not falling apart.

Dog walking. If you love dogs and enjoy walking with them, you can earn money at the same time when you do this. There are available networks out there that connect dog owners with dog walkers. You just need to do a little research on what’s available in your area or you can advertise your services easily over the internet or on social media.

Play in online casinos or online lottery games. These online games can make someone an instant millionaire once you hit the jackpot. You may need to pay a small amount to purchase a ticket to get the chance to win. You just have to make sure that you play on a reputable site such as Multi Lotto for your safety and security to play these games.

Photography. Do you have a DSLR camera and do you enjoy taking pictures? Whether you’re a professional or an amateur photographer, you can sell your photos online as stock photos to generate another passive income opportunity, if this is something that you’re passionate about. There are also a lot of people who are looking for photographers to cover their life events. You may need a few equipment and a bit of experience but you can definitely have income this way too.

Be a medical studies participant. Companies pay a good amount of money to have people try out new drugs or participate in their medical studies. Do this only if it’s okay with you to take a little risk and if you’re fine with some side effects. If you can live knowing this, then you don’t need to make too much effort in making money fast.

What would you do to earn money quickly?


The Short Road To Getting A Loan

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As the economy always seems to be in a state of fluctuation, chances are, like almost every other American, you will need to take out a personal loan to fund an event or to consolidate your outstanding debt.

The question then becomes, how do you make this process as efficient and painless as possible? You don’t want to spend hours on end searching and comparing the many different options. It is in this capacity that a site such as consolidate.loan comes into play – they do the bulk of the work in locating a viable option for you. Below, we’ll see some of the things you can do to facilitate the process.

Are You Looking for a Personal Loan or an Auto Loan?

The above two are just examples; of course this process extends to all other kinds of loans. The point is to determine which one you’re looking for. The primary difference between the available types of loan is whether they are secured or unsecured debt. Your ability to obtain an unsecured loan is dependent on your credit history; if it isn’t very good when compared to the average borrower, then you may have many more options for secured loan and the collateral that’s often required.

Basically, then, an unsecured loan is based mostly on your credit score. A secured loan tends to be for people with low credit scores, and requires you to put up something of value – jewelry, car, home, boat, etc.

Order Your Credit Reports

order your credit reports

You need to know your credit score and elements of your credit history; these are what your lender will use to determine the interest rate of the loan he or she gives you. Generally, the interest rates you’ve been able to get for your multiple credit cards is a good indicator; but you still want to get your free (once a year) credit report so you can check for any discrepancies that can be fixed to improve your profile.

One of the primary benefits of pulling your credit report before applying for a consolidation or any other loan is this: if your application is denied, this is reported to credit agencies. The rejection has an adverse reaction to your score and can lower it some points. So, if you know you have bad credit, then it may be best not to go for an unsecured loan in the first place – wait a few months, improve your score by paying the bills on time, and try again later. Or, only pursue a secured loan where you will put up a collateral.

 


Lost Post

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Hi all,

Just popping in quickly. I published a post yesterday (10/10/17) titled, “Facing The Harsh Reality” that, sadly, has disappeared into the interwebs.

The issue was caused by a migration of servers and unfortunately my post was caught in the cross-fire. The big bummer is that there’s no way to recover the post and I don’t have it backed up anywhere. It took me a long time to write (and was pretty tough to publish to begin with), so I don’t know that I’ll be able to recreate it.

If, randomly, anyone has any copy of it (e.g., if you were subscribed and received an emailed version or for some reason took a screen shot or have any other electronic copy of it), please post a comment here so I can reach out to you! I’d love to re-publish it if I’m able but due to the server migration it’s been totally lost and I lack the time (and am feeling a little too defeated about it) to try to recreate it right now. Major frowny face!!!

~Ashley


Hope’s Monthly Budget – Fall and Winter, 2017

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This is my current monthly budget. A debt update is coming up next. I think most of this is self-explanatory, but I’ve added a few notes below.

Budget

Personal Expenses Business Expenses Summary
Allowance 400 Adobe 30 Total Personal 3634
Auto – Gas/Main 250 Cell Phones 286 Total Business 509
Auto/Rent Ins 315 Dropbox (annual – Oct) 8 Total Debt Payment 1920
Clothing (bi-annual) 150 Internet 77 Total Monthly Costs 6063
Electric 150 Microsoft (annual – Jan) 8
Groceries/Eating Out 600 Misc 100 Income
Gymnastics 350 Total Business 509 1099 3200
Health Ins 305 W-2 3462
Life Ins (annual – Dec) 21 Debt Payments
Rent 650 Car Payment 400 Total Income 6662
Spending 200 CC 100
Water/Gas/Trash 75 Computer Equipment 85 Savings Goals
Spanish 160 Other 500 Emergency Savings Goal 700
Amazon Prime (annual) 8 Self Lender (Christmas) 97 Couch
Student Loan 307
Summer Camp/Activities 375
Universal 56 Total Savings Goals 700
Total Personal 3634 Total Debt Payment 1920 Total Extra Income -101.0

Details

Monthly Expenses – These are our day to day living expenses. Many have some flex money built in, specifically gymnastics which typically runs $240 per month. I added the extra money to cover the competition costs that must be paid during competition season (Nov-Apr.) I don’t know how much they will be with our new gym, last year I paid $600 in meet fees. Spanish is new. I’ve hired a online tutor to work Princess and Gymnast 1 hour a week, this was our first week.

Business Expenses – I’ve added my regular business expenses including our cell phones, internet and so on because I thought my budget would look funny with out these important expenses. (These are associated with my contract work.)

Debt Payments – I have another post on this category coming this week. I am grateful that a lot of this debt is chosen – summer camps and activities, Universal and a Self Lender loan (a chosen debt in an attempt to help repair my credit) versus stupid decisions or debt hoisted upon me by other’s decisions.

Income – I continue to work three jobs regularly, and have recently picked up a couple of new smaller contracts so we will see how they work out. The kids are starting to ask when I will cut down on my work hours. But I am not there yet.

Savings Goals – My emergency savings is still my #1 goal. But I am starting to think of other “things” I would like, specifically a couch. I’ve put it on the budget as a holding place, but I am not actively pursuing it at this time. In my head, I’m thinking next summer for a couch.

Summary

I am in the negative as far as this budget goes. Reality is that I spend quite a bit less than this on a regular basis, but there are certainly months where it is more. I feel like this is a true representation of where my money goes on a monthly basis.

My FSA, vision and dental insurance and 401K deductions all come out of W-2 income. I have consulted with an accountant and for this year, I am in a good place tax wise due to the Adoption Tax Credit. I will have to adjust my tax rate for next year.


Free Museum Day

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It’s museum day 2017!

http://www.smithsonianmag.com/museumday/museum-day-live-2017/

We’re taking advantage by hitting the Tucson Children’s Museum for free! They also have a ton of exhibits set up outside with free books, snacks and treats, arts and crafts, science experiments and more!! Having a blast! Take advantage in your city, too!!

 


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