|
|
|
What the Bank Won’t Tell You About Mortgage Refinancing
So you have a mortgage, and you need to refinance to get your interest rates low. Most people simply walk into their bank, ask to refinance, and then end up paying more money long term than they would have otherwise. Some banks would like everyone...
The Power of a Home Equity Loan to Pay Down Debt
Households across the country are finding themselves in a similar situation. They lack the financial funds to make the necessary changes to their home and need to find a way to fund upgrades and eliminate debt. A popular way of financing these...
Reduce your tax payments
Reduce your tax payments by claiming an interest payment
deduction.
If you are busy paying off your student loans, the last thing
you want to do is to pay interest on the money that you're about
to give right back to the government. Luckily,...
Fixing Microsoft Money Loan Calculation Errors
It is possible that the breakdown of a payment into principal
and interest that Microsoft Money makes will be incorrect.
Rounding errors, payment delays, and perhaps even a bug in
either Money's or the bank's calculations may mean that the...
A No-Brainer Way Of Getting Credit And Credit Cards
What Is Your Credit Rating Now?
If you have any charge accounts now, or have ever borrowed from the bank to buy a car, or if you ar paying on a mortgage, there is credit information on you.
Up until a few years ago, you could only guess at...
|
|
| |
|
|
|
|
Why Is Insurance Important?
About a year or so ago, a major consumer protection magazine reviewed books about personal finance written by the well-known gurus on the subject. The magazine found that the subject of insurance was hardly covered at all.
If you think about it, this is a strange failure on the authors’ parts. Without insurance the best laid financial plans can disappear in a moment of inattention or a puff of smoke. All you saved and invested can be gone in seconds.
Insurance is here to make sure an accident does not destroy you. It protects against fire, flood, theft and collision.
It will defend you if you injure someone in an accident.
It will allow your surviving family to carry on for a time without the income you produce and it will even replace that income if you become disabled.
Many people don’t believe that a disaster will befall them. Or they want to spend the money on something that’s more fun.
But as expensive as insurance may seem, and certain policies, like disability insurance can be quite costly, it is substantially cheaper than the alternative.
If you home burns down and you lose it and its contents, the premium you pay now will seem like peanuts.
If you run someone over with your car and cause them serious injuries, the cost of your legal defense alone is many times what you pay for the policy.
Insurance is the difference between picking yourself up and carrying on after a disaster or facing bankruptcy and financial ruin.
In my opinion every wage earner should have term life and a disability income replacement policy.
If you own a home or rent, you need homeowners or renters insurance.
If you have a car, auto insurance is mandatory in most states – and don’t think the legal minimums required by most states will protect you in a serious accident.
Finally you need good health insurance coverage, preferably backed up by a high limit major medical policy.
Prepare for life’s risks so you don’t become one of its victims.
About the Author:
Chris Cooper, a retired attorney, and his wife Aileen, who has an MBA in Finance, provide personal financial planning advice at Credit Yourself – http://www.credit-yourself.com
Source: www.isnare.com
|
|
|
|
|
|
