5 Ways to Stop Wasting Your Money & Strategies to Save

Inflation is doing a number on your budget. Things get pricier every day, and you’re always looking for ways to cut back: coupons, sales, brown-bagging your lunch, bringing your own coffee to work. In fact you have heard all of these before to stop wasting your money, haven’t you?

Man in business suit at stop sign telling him to stop wasting your money

Those are all smart tactics, since small savings do add up. But sometimes the really big savings options are right under our noses. Some money-saving tactics are things we never heard of before, but others are things we know we should do and are just too overwhelmed to start. It’s time to look at some ways to stop wasting your money and put them into action!

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Preparing Your Life Insurance Beneficiary: 3 Steps to Handle Now

I have written several blog posts over the years about insurance of all kinds. Insurance is so important to have for many reasons, but it is also a very unpleasant thing to think about, discuss, and to shop for and buy. That’s mainly because you are hoping you never really need it, but yet you know that you will or just might someday. That’s why you pay for it so grudgingly. It’s protection for you and your assets for the things that your fear will happen.

Grieving loved ones who were prepared to be your life insurance beneficiary

With things like a house, a car, or a boat, well, they are all just things. When it’s just a thing, insurance can cover it and even replace it so you’re as good as new…well almost. Just ask anyone who just experienced Hurricane Ida and all of the damage done to property for example. But with your life insurance policies it’s a little bit different.

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What You Need to Know to Save on Car Insurance

I’m going to make my point here right at the beginning without my usual fun and games today. So straight up, here it is: There are certain things that almost everyone is forced to deal with that will cost you money and car insurance is one of the big ones. Today I’m going to talk about how to save on car insurance so you can keep more money in your wallet while still protecting yourself.

Car insurance is critical to have, but can cost a fortune. Here's how to save on car insurance while still keeping yourself protected.

During this terrible pandemic, driving has changed for many of us. Instead of driving to work in your car every day and thus risking more miles and more accidents, you are most likely not doing that. Even if you are working, you are probably doing more work from home and only venturing out driving when absolutely necessary. If you can, you’re getting things like food and prescriptions delivered to your door to avoid time behind the wheel. That is actually saving you some money.

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Yes, I Made It to Annuity Day!

Well, it finally happened. The check actually was in the mail and it came right on schedule, too. Twenty years ago, I decided to add an annuity to my retirement planning program and it kind of snuck right up on me. That was a really pleasant surprise. In a world where the annuity often has its detractors (and perhaps with good reason), I am pretty happy with it. I felt for me it was a good decision. Depositing that annuity check for $483.46 (the first of 240 for the next 20 years!) has comforted me quite a bit since February 1st. With the market in chaos, even more so in the past several weeks, I guess it’s congratulations to me! I made it to annuity day and now another of my nest eggs has hatched!

After opening an annuity 20 years ago, I finally made it to annuity day and received my first payment. Annuities can be a good idea in certain situations.

What Is an Annuity?

An annuity technically is not an investment. First and foremost, an annuity is an insurance product, which means you buy it because it reduces your risk. Some annuities, like variable annuities, do have a selection of stock and bond portfolios available as investment choices inside the insurance contract, but the one I bought was a fixed rate annuity which for me had no investment risk on my return and payout. I knew 20 years ago what I would be getting back to the penny when I bought it.

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A Smile Is NOT the Best Insurance Umbrella

Just let a smile be your umbrella,
On a rainy, rainy day
And if your sweetie cries, just tell her,
That a smile will always pay
Whenever skies are gray,
Don’t you worry or fret,
A smile will bring the sunshine,
And you’ll never get wet!
So, let a smile be your umbrella,
On a rainy, rainy day!

When it comes to insuring your family's finances, you may need an umbrella policy. I explain what an umbrella policy does and why you might need one.

Let a Smile Be Your Umbrella” was a popular song written by famed Sammy Fain and lyrics by Irving Kahal and Francis Wheeler. The song was published in 1927 and successful early recordings reached the charts of the day in 1928. Wouldn’t it be really great if just a “smile” would really protect you?

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Are Annuities Good or Bad for Your Retirement?

A lot of financial experts and bloggers don’t recommend annuities or even like to talk about them very much. They are more likely to recommend and want to talk to you about investments in stocks, bonds, and mutual funds for growing your wealth and prepping for retirement. That may leave you to wonder what annuities really are and whether you should you invest in them for your retirement years.

Annuities...good or bad? They have a poor reputation, but there can be good reasons to include the right one in your retirement plans.

I chose to purchase an annuity about 20 years ago (when I was 50) with qualified money I used from a 401(k). Then, about 5 years ago, I took that money and used it to purchase a 5-year deferred annuity that will start paying me beginning in January of 2020. Those payments are guaranteed to me or a beneficiary (my wife who is 20 years my junior) for 20 years, or for my entire life as long as I live (even if I live to be 100 or more). This made good sense for my situation. But, before you decide that an annuity is either a good or bad choice, ask yourself this: Have you taken a really good look at annuities and do they make any sense for you?

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12 Fake Myths People Believe About Car Insurance

There’s no shortage of wrong information out there about car insurance. Unfortunately, making decisions based on car insurance myths can and will complicate your life and cost you money. “Millions of Americans really could use a refresher on what insurance does and does not cover,” says senior analyst Laura Adams of InsuranceQuotes.com. And there aren’t just one or two fake facts out there circulating about car insurance either. There are many and that list seems to grow longer all the time, adding onto itself year after year. So much so, that you may actually fear insuring your auto and make a wrong or stupid decision when you do!

There are lots of car insurance myths that people mistakenly believe, and it could be costing you money. Here are 12 myths and the truth behind them.

Whether you are young or old, rich or poor, or just someplace right in the middle, you probably believe some of these ridiculous fake facts. You might have passed on bad info to someone else, like your kids or your friends. So here are 12 fake facts to rethink and get clear on to save yourself some grief and some money on car insurance next time you purchase it!Continue reading“12 Fake Myths People Believe About Car Insurance”

Perm versus Term Life Insurance – Why You May Need Both!

Usually, the most frequently asked question when people consider life insurance is, “what’s the price?” That question can’t easily be answered simply since there are just so many variables involved such as age, health, face value, and the type of the insurance which then results in widely differing premiums. That’s a good reason to first ask this question: “which kind of insurance is best for me, perm or term?”

In the perm versus term life insurance debate, most experts will tell you to buy term. But there are reasons you may need both.

The Perm versus Term Life Insurance Dilemma

When you are looking for a low price, quite often term policies are most attractive and most purchased. You may be assuming when purchasing that policy that you will never have to purchase another insurance policy again. That’s not necessarily a good assumption.Continue reading“Perm versus Term Life Insurance – Why You May Need Both!”