Money

How to Stop Procrastinating With Your Money in 4 Easy Steps

Personal finance prosperity requires a long-term plan, dedicated effort and regular check-ins to maintain focus. It takes work to reach financial goals. Millions of Americans complain about high debt, low savings and a paycheck-to-paycheck lifestyle that seems difficult to escape. But if you take the time to get your money systems setup, you can relax as your money goes to work for you. Here are some easy-to-follow tips to avoid putting off getting your finances in order.   Start a Budget Already Do you know you should budget but don’t think you have the time to put one together? Wrong!…

What’s Covered by Insurance When Your Car is Stolen?

Pop quiz: What is the most popular vehicle in the United States? If you answered the Ford F-150 pickup, you know the auto industry. What about the most popular vehicle among car thieves? If you said the 1996 Honda Civic, you know the insurance industry. So what happens if your vehicle disappears from your driveway, parking garage or wherever you last parked it? From an insurance standpoint, it all depends on the type of policy you purchased to cover the vehicle. If you’re driving a ’96 Civic, chances are you’re carrying only liability and/or collision insurance. That’s a wise decision…

An Easy Way to Budget for Life Insurance

We all know how important it is to have life insurance. And we know it’s usually better to get that life insurance when you’re young and healthy, rather than waiting. However, “young and healthy” can often translate to “short on funds.” At SelectQuote, we’re dedicated to helping you get the best deals on life insurance, but when you’re already budgeted to the max, even the best deal can feel like too much money you just don’t have. If you’re looking for places to trim your budget so you can invest in life insurance, one of the easiest and most effective…

Do I Need Debt to Boost My Credit?

Much like no news is good news, no debt is a good thing. But what happens to your credit score when you don’t have debt? The answer is complicated. The short version is no debt can pose a challenge to someone looking to land an excellent credit score. Credit scores are intended to report your credit risk. In other words, they reflect how you have handled debt in the past. But having a high credit score is more complex than simply carrying debt. Understanding the factors that impact your credit score are important. There are many different strategies you can…

How to Turn a Financial “Don’t” into a “Do”

A lot of financial advice is framed as things you should never do. Here are a few “don’ts” you’ve probably heard more than once: Don’t borrow money from your retirement plan. For instance, see 4 Reasons You Should Never, Ever Take a 401(k) Loan. Don’t take a loan or use your credit cards to fund your dream to… [fill in the blank — start a business, go back to school, relocate, etc.] Don’t borrow money from (or lend money to) family or friends. Here’s a quick take from financial advisor Dave Ramsey on why this is always a bad idea.…

Top 7 Questions to Ask When Shopping for Medicare

Cake. Balloons. Medicare?! Your 65 birthday represents a milestone in your retirement. When you turn 65 it’s your golden opportunity to select a Medicare plan to meet your needs. Medicare may seem complicated at first glance, but it doesn’t have to be. The help of a knowledgeable SelectQuote agent removes uncertainty when shopping for Medicare. He or she will simplify the process for your current and long-term healthcare needs. When purchasing your Medicare plan, it’s important to consider the plan premium and the value it provides. “Think about your healthcare long term,” advised David Perlberg, a licensed SelectQuote insurance sales…

What to Know About Retiring at 62 Versus Retiring at 70

Ah, retirement. That long-awaited life stage when all your hours of working, saving and family-raising efforts finally pay off. You’ll be free to travel, spend time with friends and family and enjoy the hobbies you never had time for. No worries, no stress, nobody to answer to. Except, without careful planning that scenario could be a fantasy. A 2017 Ipsos/USA Today poll found 45- to 65-year-olds surveyed, 30 percent had less than $100,000 in savings. Another 30 percent had no savings at all. No matter how much money you have invested for your retirement, deciding when to make the leap…

Insurance 101 for House Flippers

Flipping houses hit an 11-year high in 2017. It’s no secret why. Television shows such as “Flip or Flop” and “Rehab Addict” flaunt how flipping houses can provide a lucrative career or side hustle. But it’s not always an easy one. Many things can go south during a flip, including stolen materials or structural damage while the house sits empty. Mishaps that eat into potential profit. Most people go into a flip thinking about asking price, cost of renovations and earning potential. It’s important to add insurance coverage to the early list of considerations. Below we answer four common insurance…

How to Improve Your Credit Score

Your credit score: most days you probably don’t think about it at all. But at pivotal milestones throughout your life, a good credit score suddenly becomes crucial. Your credit score affects your ability to buy a new car, qualify for student loans, get approved for an apartment or even land a job. With a good credit score, you’ll be able to finance a vehicle, get approved for an apartment with a safety deposit, and pass an employment background check. And with an excellent credit score, you’ll find yourself eligible for the lowest interest rates, with better chance of approval for loans…

Home Mortgage: What’s the Difference Between Being Preapproved and Prequalified

Fall is an ideal time to shop for a new home. The market has quieted from the frenzy of spring and summer real estate activity. And prices may be lower, as sellers work to close a deal before the traditionally slow market during the holidays. Before you engage a real estate agent or spend a weekend visiting open houses, do a little homework so you’ll be ready to find your next home. A crucial task is assessing how likely you are to get approved for the mortgage amount you may seek. You’ll hear the terms preapproved and prequalified. Both have…

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