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What You Need to Know About Insuring A New Teen Driver

Even though more teens are putting off getting their driver’s license and delaying hopping behind the steering wheel, they’ll start driving at some point. And that means that your new teenage driver will need auto insurance. Here’s a six-point checklist for insuring that new driver (teenager or not): Create a Budget First things first. Determine how much you can spend (read: would like to spend) on your new driver. In this overall budget estimate, include annual costs for insurance, another family car — if that’s part of the plan — and auto maintenance. An item to note: Simply adding a…

Early and Consistent Saving Is Key to Paying for College

If you have a child, or are even thinking about starting a family, you may be wondering how to afford to raise and educate your son or daughter with the cost of living ever increasing. Thinking about financing an education for your children is the first step in securing their future. But act – don’t just think. Start a college savings plan right now, no matter the age of your children, or even if you are just in the family planning stage. The earlier you start, the better off you’ll be when it comes to paying for the astounding cost…

Should Women Save for Retirement Differently Than Men?

With cost of living outpacing salary growth and an ever-increasing average lifespan, saving enough for retirement is daunting for anyone. Women, in particular, face challenges on the road to retirement that men do not, which result in reduced quality of living during their later years. A survey by the Transamerica Center for Retirement Studies found only 12 percent of working women are “very confident” in their ability to retire comfortably. An additional 46 percent are “not too confident” or “not at all confident.” This lack of confidence is, unfortunately, warranted. The average Social Security benefit for women 65 and older…

3 Reasons Why Location Influences Home Insurance Rates

Location. Location. Location. We’ve all heard this common phrase in real estate and understand it can affect the market price of homes. What many don’t know is location also impacts home insurance rates. When determining your homeowners’ insurance rate, insurance companies take many factors into consideration. Each insurer has its own underwriting criteria and factors that influence rates. While some criteria are standard, some vary from one company to the next. For example, one insurer may prefer new construction. Another may choose not to insure homes built using certain materials, such as log homes. The insurer is assessing risk. Each…

What is Dependent Life Insurance

No one likes to think about the death of a loved one. Especially a spouse or child. But just as life insurance for yourself protects your family, dependent life insurance alleviates the financial burden of a dependent’s untimely death. Dependent life insurance is often offered as an add-on to your life insurance through an employee benefits plan. You can typically purchase varying amounts of coverage depending on your needs and budget. Who Qualifies as a Dependent for Life Insurance? Dependent life insurance plans typically cover your spouse and dependent children. Spouse. Depending on your plan, a spouse is usually defined…

Changes in Daily Habits Can Produce Big Savings

You’ve survived the big spending season known as the holidays and may be dismayed at the state of your finances – credit card bills due, depleted funds in your savings account and a general feeling of being broke. Welcome to January. If you’re like many people who make New Year’s resolutions, you may be dreaming about ending the cycle of spending too much with a firm resolve to increase your savings. Take courage – it’s not as hard as you may think. Here are some practical tips on how to live on less and save more in 2018: Sign up…

Estimate Your Income in Retirement Annually

Few people want to work forever, which means you will need savings. While every American is already saving some thanks to Social Security, you’ll likely need more if you want to maintain the same standard of living in retirement you enjoy today. And if you want to have a dream retirement, you’ll definitely need to make sure you save enough while you’re working to reach your goals. Start by estimating what you need and working backward to a savings rate. If that seems tricky, follow along with this guide and you’ll be on track to a great retirement. What You…

Holiday Shopping: Save or Splurge

So long, Black Friday. Sayonara, Cyber Monday. It’s the thick of the holiday shopping season. If all your gifts are bought, congratulations. If not, you have plenty of company to stress about buying, wrapping and delivering gifts for the next couple of weeks. With all the holiday hustle and bustle, you’re normal budget judgement may be compromised. So you have to ask yourself, is it worth it to drop the big bucks or is it better to go the frugal route. The answer should always depend on your budget, of course, and there is usually an emotional element at play…

15 Best Personal Finance Blogs and Podcasts

Every year, the Plutus Awards recognizes and honors the greatest personal finance blogs, podcasts and content creators in a variety of financial niches. These finalists were voted on by other financial bloggers, so you know they are top of the line. Consider adding these blogs and podcasts to your regular rotation. Each shares high quality, fun ways learn more about mastering your money. Well Kept Wallet Deacon Hayes is behind the blog of the year winner, Well Kept Wallet. The multi-author blog features resources on a wide range of topics to help people better manage their money, get out of…

Want Lower Car Insurance Premiums? Choose Your Car Carefully

Trying to crack the code on everything auto insurance companies look at when deciding what your premium will be is a little like trying beat search engine algorithms. Something you won’t be able to conquer over a weekend, that’s for sure. The good news, however, if you don’t need to consult a secret playbook to get a good rate. There are some things you can watch out for while shopping for a car that can help keep those premiums manageable. Here are the most important: Safety Safety ratings aren’t necessarily top-of-mind while car shopping, so you have to make sure…

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