If you own a vehicle, you can’t put it on the road without insurance. Of course, what you pay to insure your vehicle can vary drastically, but a poor driving record tends to result in a higher price for coverage. A great way to level up your buying power and spend less on car in...
On the other hand, as the years pass you need less insurance. Why? Because, in this example, the life insurance is only meant to replace your income to age 65…remember? By the time you reach that age, you’ll have enough to “self-insure” because you’ll have passive income form ...
Before actively trying to avoid probate (by putting your assets in a trust, for example, which can be costly), remember that some assets — such as life insurance and retirement plans with named beneficiaries — generally avoid probate anyway. Also, many states have tried to minimize the cost...
If so, enter it into your register and add it to your balance. 3. Are all deposits in your register listed on the bank statement? Go through and check off each deposit listed in your register to make sure the money got deposited and is reflected on your bank statement. If you have a...
If you live in a condominium or co-op, you may also be required by your tenants' association to have homeowners insurance. Even if you have a relatively new, well maintained house, homeowners insurance can help you in situations that may not be preventable. Say, for example, that you are...
Tip: Cut yourself some slack. Much like a diet, a budget will only work if it's reasonable. No one is expecting you to strip all the fun from your life to save money. In fact, you're just setting yourself up to fail if your budget is too strict. A manageable one is better than...
Not every asset needs to be named in your will. For example, if you’ve named a beneficiary for your life insurance, bank accounts, or other assets, those don’t belong in your will. And remember that no matter what your will says, designated beneficiaries receive those assets. So make ...
HA! As I write this gas is $3.98 here in upstate NY. Are gas prices going to be $29.00 when my nieces and nephews are in their 40s? The oldest is 11 now. I hope not but I can tell you life will be a lot harder dealing with gas prices like that and debt. Step 1) Come up...
Having a solid budget is the first step to a healthy financial life. It can help you keep spending in check, save more, and reach your goals faster. Luckily, you don't have to mess around with spreadsheets. There are many budgeting tools and apps to help you create a budget and stick...
To figure out your net pay, determine how much you contribute to FICA, federal and state taxes, health insurance, and retirement contributions. Then, subtract those contributions from your gross pay. Here's an example of how to determine monthly net pay, assuming a 12%effective federal income...