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Top Seven Tips to Sell Your Home Quickly
Money Tips

Top Seven Tips to Sell Your Home Quickly

by Kimberly Johnson
written by Kimberly Johnson

Top Seven Tips to Sell Your Home Quickly

Top Seven Tips to Sell Your Home QuicklyWith exceptionally strong demand from buyers, many think now is an excellent time to put your property on the market. But what can you do to make sure your home sells quickly and for the best possible price?
Estate-agent Leaders, have put together these top tips for anyone considering selling their property right now.
Kevin Shaw, national sales director, said: “The start of the year is always a great time to put a property up for sale, when many people make new plans, change jobs, opt to drop their commute or relocate.

“All of these lead to an uplift in demand for homes to buy, making it a fantastic opportunity for those looking to sell.”

1) First impressions count – Buyers form an opinion on your home within seconds of walking through the door – and some may even have made up their mind as soon as they set eyes on it from outside. So make sure the areas people will spot first, such as the driveway, flowerbeds and entrance hall, look as good as they can.
2) A warm welcome – It’s easy for a property to feel chilly at this time of year, so set your central heating to come on ahead of viewings. Buyers need to feel comfortable in your home – if you have a fireplace, light a fire to add that extra touch of warmth.
3) Demonstrate what your home has to offer – People buy into a lifestyle as much as a property. Help them see the benefits of living in your home by making key areas look as appealing as possible. Set the table in the dining room for dinner, arrange office furniture neatly in the study and place a table and chairs on the patio and comfy seating in the conservatory. It should be clear what each area of your home is for and that those spaces are just right for their purpose, whatever their size.
4) Clear clutter and have a good clean – A home free of clutter feels more spacious and if it is clean buyers will be assured it is well cared for. A major declutter and clean will ensure your home looks, feels and smells its best for viewings. This applies outside too – cut back foliage, clean the patio and cut the grass so that buyers will be able to see the garden as a place to relax rather than a job to be tackled.
5) Add light and space – Homes can feel dark and claustrophobic in winter. Adding lighting and mirrors in dark or small places makes rooms feel bigger and lighter. Make sure windows are clean and open blinds or curtains for daytime viewings. Put lights on in every room for evening viewings.
6) Fix it – Have you got a dripping tap, a door that doesn’t close or a hole in the carpet? Getting all repairs out the way before viewings will make it more desirable.
7) The right agent – Your home is one of your biggest assets so put it in the hands of an agent you trust. From advertising in the right places and presenting it at its best to negotiating strongly on your behalf and managing the process to completion – the right agent is key to a smooth and successful sale.
www.gainsboroughstandard.com

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Preparing Disability
Money Tips

Financial Steps to Prepare for Disability

by Jeff Dailey
written by Jeff Dailey

Financial Steps to Prepare for Disability

Preparing DisabilityMost people don’t think they’ll ever suffer a life-altering disability. However, a 20-year-old worker has about a three in 10 chance of suffering a disability before reaching retirement age, according to the Social Security Administration. As people’s age increases, so does the likelihood of a disability forcing them out of the labor market. The average age of people receiving Social Security disability benefits is 53. Financial Steps to Prepare for Disability
Whether a severe disability progresses slowly or occurs suddenly, most people are not financially prepared for a health crisis that forces them to stop working. The results can be financially devastating, both to sidelined workers and their families.
“Many people underestimate the financial severity of a disability,” says Paul Gada, personal financial planning director for the Allsup Disability Life Planning Center. Allsup is a nationwide provider of Social Security Disability Insurance (SSDI) representation and Medicare plan selection services.
An important step Gada advises workers to take while they are still employed is to consider long-term disability coverage. These policies generally replace 50 percent or more of a worker’s salary and can coordinate with any Social Security disability benefits he may receive. Because the average SSDI monthly income is only $1,111, and can take two or more years to secure, private long-term disability insurance can be an important source of income. However, few employers offer private long-term disability insurance as an employee benefit, or they ask employees to pitch in to cover premiums.
Workers who have advance warning of a disability should take steps immediately to secure their finances. “If you are diagnosed with a chronic condition that will likely require you to stop working, you need to start planning for that day as soon as possible,” Gada says.
Once someone is forced to stop working because of their disability, there are still things they can do to protect and manage their immediate and long-term financial situation. Fast action is required, though.
“You need to focus on conducting immediate and ongoing financial damage control,” Gada says. “This includes having the mindset that every dollar you spend is a dollar you can’t recoup by working harder or longer because your disability means you’re no longer working.”
Among the steps to take quickly when a serious health condition occurs are:
* Develop a financial plan. Establish a budget, prioritize expenses and identify how to spend down assets in the least harmful way. For example, avoid using retirement income, which may trigger tax penalties, and minimize credit card use to avoid high interest charges.
* Cut costs and identify sources of assistance for living expenses. People need to cut discretionary spending and look at how they can reduce costs for necessary expenses, such as food, housing and health care. For example, many resources are available nationally and locally to help people, if they know where to look. This includes neighborhood food pantries, federal energy assistance, housing programs to help avoid foreclosure and provide rent assistance, and pharmaceutical assistance to cover all or part of medication costs. Nonprofit associations also offer support, such as the National Family Caregivers Association and condition-specific groups such as the National Stroke Association. Allsup provides links to local and national resources on its website.
* Pursue income sources. People with private long-term disability coverage generally begin receiving benefits three to six months after the onset of a disability, though this can vary based on the policy. Additionally, nearly 153 million workers are insured by the Social Security Disability Insurance program through FICA taxes they have paid.
“Bankruptcies, foreclosures and other devastating financial hazards are too common among people with disabilities,” Gada says. “To help minimize these hardships, it’s important to apply for SSDI benefits as soon as possible and to seek representation to help navigate the SSDI process from the outset.”
* Don’t let health care coverage lapse. Individuals who don’t have coverage through a spouse’s plan may be able to secure COBRA coverage through their former employer or purchase private insurance. Both are costly, however, and private plans can still deny coverage to people with pre-existing conditions. Pre-Existing Condition Insurance Plans (PCIPs) may be an option. However, a person needs to have been uninsured for at least six months before qualifying for a PCIP and these plans can be expensive. Individuals aren’t eligible for Medicare until 24 months after they begin receiving cash SSDI benefits.
“Unfortunately, people with disabilities don’t have many good options for affordable health care coverage while waiting for Medicare eligibility,” Gada says. “However, to the extent possible, keeping health care coverage should be a priority so they can continue to get the medical care they need.”

Provided by: ARA

 

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Money Saving Ideas for Home Energy
Money Tips

Money Saving Ideas for Home Energy

by Jeff Dailey
written by Jeff Dailey

Money Saving Ideas for Home Energy

Money Saving Ideas for Home EnergyMany factors to save are facing us on a daily basis. Save money, save our planet, save the environment, save energy to name but a few.
But how many of us really take notice of these cries for saving. Many of us try to save money from our salaries, but with the low interest rates, how helpful is this?
In today’s slow economical world, there is one sure fire way you can save money on your household heating bills, along with helping the environment. C’mon, we all have to do out bit don’t we?
I work in the UK as an Energy Assessor covering Hampshire. During the past 3 years, I have seen firsthand how a great deal of money can be saved by making a few simple and cost affective changes to your home and in the way that you live on a day to day basis.
The first thing we all need to do is to increase the loft insulation (if you have one) to at least 270mm. This is really cheap to do, is very quick to facilitate and will stop your precious heat from escaping through the roof. If you feel inclined to, you can also insulate between the rafters for added protection. Just remember to leave gaps near the soffits to allow for air circulation as you could cause condensation if you don’t.
Next, if you have cavity walls, look at having these filled professionally to stop any heat being lost through them. If you have solid walls, you could look at having internal or external insulation applied, subject to any listing consents. From 1983 onwards, the building regulations stated that all properties built thereafter should have cavity wall insulation. From experience, this isn’t always the case and some builders have neglected this! Double check beforehand.
If you have an open fireplace which isn’t often used, consider using a chimney balloon. These are very cheap to buy, come in various sizes and can be inserted into the chimney to stop and down drafts or losing heat up through the fire place.
Another worthwhile exercise is to change all of your lights / light bulbs to low energy bulbs. The laws have recently changed and you can now only buy low energy bulbs. However, all too many homes are still clinging on to their old bulbs because they are brighter. They’re not! Today’s low energy bulbs are very bright and as time goes on they will get better and better. Much money can be saved using these bulbs not only through the electricity used, but they also last 10 times longer than our old ones.
If you have a hot water cylinder with a jacket with your heating system, upgrade the jacket to at least 100mm to increase the insulation. Turn down the thermostat a little to save some energy. If you haven’t got a thermostat on your cylinder – then get one!
Whilst on the subject of heating. Ensure all of your radiators have Thermostatic Radiator Valves and turn them down or off if the room is unused. Ensure you have a room thermostat and again keep this low and finally, if you have a non condensing boiler, consider upgrading it to a condensing boiler.
In order to keep this article short, there are so many other ways to save money around the home. I will leave you with the thought of switching off electrical appliance at the mains when not in use. Items on standby, including the phone charger can use quite a bit of power.
Now, stop wasting money and protect our planet for the next generation.

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Money Tips

Is Your Income Affected By Your Ability To Hear?

by Jeff Dailey
written by Jeff Dailey

Is Your Income Affected By Your Ability To Hear?

Is Your Income Affected By Your Ability To Hear?Baby boomers continuing to work longer in life before retiring might notice a decrease in income – and the reason for that decrease could be caused by one of the five senses. Is Your Income Affected By Your Ability To Hear?
Untreated hearing loss can decrease a person’s income by as much as $30,000 a year, according to a survey conducted by the Better Hearing Institute.
Hearing is critical to effective communication in the workforce. The ability to hear and listen well enables employees to be more productive and understand the work that has been assigned. Poor communication can result in unhappy customers, missed deadlines, poor morale among co-workers and mistakes on the job. Effective hearing may also be critical to ensure safety on the job.
Yet many boomers and people approaching boomer age have difficulty admitting hearing loss. Signs you may be suffering from hearing loss include:

  • Having others in the room complain about the volume of the radio or television.
  • Requesting people repeat their words on a frequent basis.
  • Missing out on group conversations.

Not only can hearing loss affect an individual, but the individual’s lower income or unemployment status also can affect the national economy. There are more than 34 million Americans with hearing loss, and the estimated loss of income is $176 billion for those with hearing loss who are underemployed or unemployed. That cost to society is as high as $26 billion in unrealized federal taxes.
“People are losing their hearing earlier and staying in the workforce longer,” says Sergei Kochkin, executive director of the Better Hearing Institute. “In today’s tough job market, hearing your best is essential for career success.”
Hearing aids are shown to reduce the risk of income loss by 90 to 100 percent for those with milder hearing loss, and from 65 to 77 percent for those with severe to moderate hearing loss.
Hearing aids remain the optimum treatment for the vast majority of people with hearing loss. Yet only 40 percent of Americans with moderate to severe hearing loss, and only 9 percent of those with mild hearing loss, wear them. One misconception is that hearing aids are big and ugly, and could make a person appear old or disabled. But if you are in a workplace and are not hearing instructions or missing the conversation happening around the water cooler, people may wonder about your mental capacity.
Half of all people with untreated hearing loss have never had their hearing professionally checked. To help, the Better Hearing Institute has a five-minute hearing test at www.hearingcheck.org. You can learn more about hearing loss and how to help it at www.betterhearing.org.
Check out the affordable discreet hearing aids on Senior.com!

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What Aging Parents Want from their Kids
Money Tips

Grandma and Grandpa Time to Have the Money Talk

by Kimberly Johnson
written by Kimberly Johnson

Grandma and Grandpa Time to Have the Money Talk

It’s Time to Teach your Grandchildren Financial Lessons

Grandma and Grandpa Time to Have the Money TalkWith a lifetime of experience, most grandparents are happy to share their wisdom with their grandchildren, offering advice on things like school, marriage, gardening, sports and more. A new study, however, finds grandparents may be missing a significant opportunity to make a positive impact on their grandchildren’s financial futures by simply talking to them about money.One reason for this is grandparents don’t think their grandchildren want to hear from them about money matters. But that’s not true, according to the study commissioned by leading financial services firm, TIAA-CREF.
“Young adults are surprisingly open to talking with their grandparents about money, regardless of the generation gap,” said Joseph Coughlin, director of the Massachusetts Institute of Technology AgeLab, who collaborated with TIAA-CREF on the study. “When it comes to saving for college, most young adults feel unprepared, and grandparents aren’t fully aware of how they can help.”
Under Your Influence: You Have More Impact on Your Grandkids Than You Think
One of the most important ways grandparents can positively impact their grandchildren’s saving and spending habits has nothing to do with writing a check. The study found only 8 percent of grandparents ages 50 and older say they’re likely to start a conversation with their grandchildren about money and saving for college. But on the flip side, 85 percent of young adults ages 18 to 24 are open to discussing the subject with their grandparents.
Seventy-three percent of young adults also say their grandparents actually do influence their saving and spending habits. But only three in 10 grandparents think this is the case.
This disconnect suggests grandparents may be missing out on a big opportunity to positively influence their grandchildren’s financial success. “Conversations about money over time could help young adults more than their grandparents realize,” Coughlin said.
Money Memories: Your Grandkids Want to Hear from You
With 97 percent of young adults concerned about saving for their future, grandparents can make a positive difference by sharing how their financial decisions – for better or worse – have impacted their lives.
In fact, past experiences is the No. 1 topic grandchildren would like to talk about with their grandparents. This presents a great opportunity for grandparents to discuss their financial choices through their own personal stories.
Coughlin suggests starting these conversations early in childhood. “When you empower children to understand financial decisions, they develop a life-long sense of confidence and trust in themselves, helping them become successful adults,” he said.
Fiscally Falling Behind: Young Adults Are Unprepared for College
For children under 18, the most immediate financial concern facing them is often whether they’ll be able to afford college. More than 30 percent of young adults surveyed indicated they have nothing saved for college. And only 29 percent report grandparents have helped or are helping with their educational expenses.
This is despite the skyrocketing price a four-year degree — a dollar figure that half of grandparents underestimate. The study found about half of grandparents think it costs less than $75,000. But the fact is that a moderate, in-state public college education now costs around $100,000. And a moderate private four-year college education averages around $164,000, according to the College Board.
“We found grandparents are willing to help their grandchildren financially, but they want some assurance that their grandchildren have ‘skin in the game,’” Coughlin said. “Grandparents need to know their grandchildren are serious about achieving future success through advanced education by using their own money to help pay for at least part of it.”
It’s Never Too Early to Talk Money: Here’s How
To start a conversation about money and saving for college, consider adjusting your approach, based on the age of your grandchild. TIAA-CREF recently introduced a variety of tools and resources to help break the ice, including conversation tips and worksheets, templates for electronic incentives and reward certificates.
For example, explain to your grandkids under eight that you’ve been alive longer than their parents and that the price of many everyday items like ketchup has increased over time. Then introduce the idea of value by teaching them the difference between coins and bills and assigning a dollar value to some of their favorite toys. You also can talk about the importance of saving some of the bills for college, as good paying jobs – that allow them to buy more of their favorite toys – require training and education.
For children eight to 12 years old, consider teaching the difference between needs and wants. Show them how to set financial goals for themselves, like saving up to buy a pair of new sneakers or saving a dollar from their allowance each week for college. Additionally, consider “hiring” your grandkids for projects around your home or business, and offer them an hourly wage.
For children over 12, encourage them to take on a part-time job during the summer and save a certain amount from each paycheck for advanced education. Then, offer to match your grandchildren’s savings so they clearly see the value within the context of what living expenses will be when they get older, and the importance of a job that can accommodate.
Saving Makes Good “Cents”: The 123s of 529s
The study found that even those grandparents who want to help their grandchildren save for college are unaware of one of the best and most affordable ways to do so. In fact, more than two-thirds say they are unaware of 529 college savings plans.
529 college savings plans offer three main benefits:
1) They serve as an investment account and allow any earnings on contributions to grow tax-deferred.
2) Withdrawals, if used to pay for qualified higher education expenses, are federal income tax-free.
3) Some states offer additional tax benefits, such as an income tax deduction or tax credit for state residents on plan contributions.
“In addition to grandparents sharing their own financial experiences, 529 college savings plans are an easy and affordable way for grandparents to help their grandchildren save for college,” said Doug Chittenden, TIAA-CREF executive vice president of Individual Business. “Grandparents may lack awareness of 529s because they didn’t have to think about starting a college fund with their own kids.”
For more information, go to www.AARPCollegeSavings.com.
 
About the Study
The nationwide dual-approach survey was fielded online among 1,000 grandparents age 50 and older with at least one grandchild age 18 to 24, and a second survey was fielded online among 1,003 adults age 18 to 24.

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Learn How to Deal with Debt Boldly
Money Tips

Learn How to Deal with Debt Boldly

by Kimberly Johnson
written by Kimberly Johnson

credit-cards-163900_640Learn How to Deal with Debt Boldly

Are you tired of attending untimely harassing calls from your creditors reminding you about the due payments? Is making huge monthly payments becoming tough for you? If your answer to the above question is “yes”, then you are facing Debt problem. Debts become a problem when you don’t know how to manage it and the way out of it. Learn How to Deal with Debt Boldly
Human desires are unlimited, there is no saturation point for the satisfaction level. Desires keep on growing day by day and vary from time to time. An individual has limited funds with him and to meet all the desires at one time is impossible. Thus, to fulfill all the desires, one tends to borrow money from the market it could be in the form of loans or using credit cards. It is good that you want to meet all the needs and requirements of your family members to the best. But, it is always advised to keep one’s expenses in limit and don’t let it exceed your income. One should borrow money only for the amount he or she will be able to repay easily.
However, the picture in real life is totally opposite we tend to spend more than what we earn by borrowing money from outside. And one day, these debts become a big problem for you and you feel bewildered. You don’t know what to do. You need not fuss over it; firstly understand the fact that you are not the only one who is trapped in such a situation. It may be tough for you to cope up with debts.
Debt is a serious problem. It is easy to run away or to ignore a problem. But, a wise man will face this problem boldly and will try to find a remedy for it. It is always best to deal with debt problems from its developing stage. The longer you ignore your debts the situation will get worse. So the first job you need to do is to sort out how much do you owe and to whom. This will help you in finding out what exactly do you owe.
The next step you need to do is to find the solution to this problem. There may be a lot of solution to this problem but, you should look for the best assistance. Do a thorough analysis; right assistance will help you get rid of all the debt problems. The foremost thing you need to do is to change your attitude towards debt and spending. Never spend more than what you earn and keep your expense in control. Debt is a significant tool to finance your personal loans but never misuse it. Debt carries a charge on it in the form of interest and repayment of the loan amount. So, even if you borrow money or use credit card do it wisely.
If you really want to get rid of the debt problem keep the above points in consideration and you can opt for a debt consolidation loan or for debt settlement. Consolidation of debts is done to make it easier for the borrower to manage debts effectively. The purpose of debt consolidation loan is to make the monthly payment affordable at better terms. The loan provider will deal with all the creditors on your behalf. A borrower becomes accountable to only one lower monthly payment on a single loan. It can help a borrower in improving his credit rating by making the payment on the loan in full and on time.
Debt settlement is an effective solution to long term debts. Under this option, the debt management companies negotiate with the creditors to reduce the contractual payments or to lower the interest rate. Thus, a borrower can choose any of the option. It is advised to go for a debt consolidation loan, as debt negotiation can make a negative mark on your credit rating, if the debt negotiating company does not take proper step.
You can apply for a debt consolidation loan or you can seek for debt settlement services from online lenders to find loan at better rates with improved terms and conditions. The process of applying for an online loan is easy and simple, one just needs to fill up a small online application form which hardly takes few minutes and the rest will be done by the company to find the appropriate loan for you. In case, you are looking to get the best deal you need to work for it. Search for lenders who offer the loan, collect loan quotes from them and then make a comparison among them to find the loan which perfectly matches your needs and requirements.
Most of the online lending websites have a team of professional loan advisors who can offer useful credit counseling to borrowers. Thus, you can seek for their advice to find out which option is best for you.
Shop around! A little effort today will help you save heaps of pounds in future. Whatever option you may choose, to get out of the debt problem, make sure you abide by the rules of consolidation, negotiation or settlement. It is always better to keep the expense in limits to keep yourself away from problems debts can cause.

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Keeping Your Credit Clean
Money Tips

Keeping Your Credit Clean

by Kimberly Johnson
written by Kimberly Johnson

international-debit-card-388996_640Keeping Your Credit Clean

I want you to take a good long look at your debt. Do you really know what it costs you to be in debt? Are you thinking that you can handle it or is it getting you down? Keeping Your Credit Clean
Once you start really analyzing your debt position and the cost (to yourself) of having the debt, the results can be mind-numbingly shocking.
I’ve found that debt is a lot like smoking. When you start out, you believe you’re in control and you can quit at any time. As the months and the years roll past, this initial belief does not fade away. With every debt you incur, the mantra “I can afford this”, repeats itself in your subconscious until you wake up one morning and realize that you’re in over your head.
Debt has well and truly caught you in its trap. Debt has become a bad habit.
And just like any bad habit, debt requires as much hard work and discipline to shake. The first step in the process is to acknowledge that you have a problem – instead of turning a blind eye, hoping it will go away or thinking that you’ll get around to it some day in the future.
One of the motivators to setting your feet on the path to debt free living is to look at the real cost of that debt. What is it doing to you? Where does it hurt the most?
Most debts (the ones that make you cry into your morning coffee anyway) are the ones that are incurred for a period exceeding one year. You’ve probably seen or heard advertisements that go something like this:
Buy your ‘Wiggly Snoogle’ for this special one time limited offer today – 24 easy monthly installments.
Beware – this is where you can fall into the deadliest trap of them all. The interest rates are usually above average and you’re stuck into a long term contract. Yes, getting your Wiggly Snoogle with the 25,000 features sounds like a good idea because of the easy monthly payments; especially if you compare it to the one time lump sum payment. (By the way, using the ‘lump sum’ to ‘monthly payment’ comparison is a well known sales technique to separate you from your hard earned cash.)
Let’s take this out of the realm of philosophy with a real world example:
You borrow $ 10,000 to buy a new car. Over a 48 month period – that’s 4 years of monthly payments – you will be paying an additional $ 2,000 in interest. So, your $ 10,000 vehicle is actually costing you $ 12,000. The cost of that debt is a whopping $ 2,000. If you had taken that $ 2,000 and invested it over the same period, it could have grown to $ 3,000. Instead, it has disappeared into someone else’s pocket – never to be seen again.
This is where the lenders make their money. The longer they can have you in their clutches, the longer they can smile all the way to the bank and you groaning on the way to work.
Now I’m not saying that you shouldn’t have a car – it’s just an example of the REAL cost of debt. Sometimes debt is unavoidable, but as a species we’ve become too complacent about debt and we jump into it without thinking.
Your Magic Plastic (a.k.a. Credit Card) is another one of those fiendishly sneaky evils the banks developed to rid you of your money. If – and that’s a big if – you manage your credit card correctly and pay off the full amount at the end of each month, they can be great to have and smooth the little rough patches in life. But most of us only pay the minimum amount required each month – and that’s exactly what the banks want. It leaves you in the red and owing them money. Which gives them ample opportunity to apply the thumb screws. Remember, every month you’re in the red, you’re paying interest on the outstanding amount which gets added to your bill.
The big mistake we all make is to look at our monthly statement and say: “Hey, that’s not too bad. I can still afford my repayments. And I have some credit available to buy that wiggly snoogle as well!” The problem arises when you battle to make your income stretch through the month because of the various different repayments you have to make.
It’s critically important that you start looking at the TOTAL COST of your debt over your lifetime. Once you’re over the shock and horror of how much of your hard earned cash is going up in smoke, you’ll be in a position to tackle the problem head on and take the path to debt free living.
Remember: Bad debt is a bad habit.

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Money Tips

Winter Driving Tips

by Kimberly Johnson
written by Kimberly Johnson

Winter Driving TipsWinter Driving Tips

Before you hit the road this winter, make sure your car and car insurance are ready for the journey. Planning ahead can help avoid mishaps that could ruin your vacation.
Whether you are traveling near or far, you will likely be lugging some valuable items such as skis, a laptop or a video camera – none of which are covered by a car insurance policy.
According to an April 2011 survey released by the National Association of Insurance Commissioners (NAIC), 40 percent of Americans incorrectly believe their car insurance will cover the replacement of personal items stolen from their vehicle.
“The truth is that these items must be covered by your homeowners or renters insurance policy to be reimbursed if they are stolen or damaged,” NAIC president Susan E. Voss said.
One-third of Americans also believe their auto insurance automatically covers a rental car, according to the NAIC survey. However, this is not true, and the NAIC recommends checking with your auto insurance agent to make sure you have adequate car insurance whether driving your own car or a rental.
TOP 5 AUTO INSURANCE TIPS

  • Confirm your car insurance is active and premiums are up-to-date. Have a current copy of your insurance card in the car.
  • Select liability limits that are appropriate to your financial circumstances. People with more assets generally need to select higher limits of liability than those with fewer assets. If you are found to be at-fault in an accident and purchased insufficient limits, your personal assets are at risk for the remaining financial obligation.
  • If renting a car for the trip, check your policy to see if it includes coverage. Verify potential coverage limitations with your agent, and make sure you are not duplicating benefits from your existing auto, health or home insurance policy.
  • Verify your homeowners or renters insurance covers the theft of personal items from a car, especially if you are planning to carry expensive items in your car.
  • Check to see if your policy includes roadside assistance. You can be covered for towing, fuel delivery, lockout service, jump-starts and more.

RENTAL INSURANCE – DO YOU NEED IT?
Car rental companies typically offer these products at the counter. Check to see if they duplicate existing coverage before purchasing.

  • Collision Damage Waiver (CDW) is also referred to as a Loss Damage Waiver (LDW). If you have comprehensive and collision coverage on your own car, you will likely not need this additional protection. Collision insurance covers the cost of repairs or the actual cash value of the vehicle, if damaged in a crash or rollover.
  • Liability Insurance covers medical expenses and damages to another person’s property as a result of a car accident caused by the insured’s negligence. If you are adequately insured on your own car, you may consider forgoing this.
  • Personal Accident Insurance offers coverage to the renter and passengers for medical bills resulting from a car crash. If you have adequate health insurance and disability income insurance, or are covered by personal injury protection under your own car insurance, you will likely not need this additional insurance. Personal Effects Coverage provides for the theft of personal items inside the rental car. If you have a homeowners or renters insurance policy, it generally covers this already. If you frequently travel with expensive jewelry or sports equipment, it may be more cost-effective to purchase a floater under your home or renters insurance policies so the items are fully protected when you travel.

WINTERIZE YOUR CAR
To avoid car troubles, schedule a tune-up a few weeks prior to your trip and be sure to get regular oil changes. If you want to do some basic maintenance yourself, here’s what Consumer Reports recommends you do:

  • Maintain visibility.
    If your car’s wipers leave streaks of water behind, or if the rubber on the wiper blade shows signs of stiffness or cracking, get a new set of wipers. Don’t use the wipers to remove ice from the windshield – keep an ice scraper on hand. If it’s going to snow the next day and your vehicle is parked outside, put the wipers into the raised position to keep them from freezing to the windshield.
  • Use the right oil.
    Engine oil will thicken when it’s cold, making it harder on the engine. Always check the owner’s manual for the manufacturer’s recommendation, but generally speaking, you should use a multi-viscosity oil that has a W as part of the viscosity index. This means it’s formulated for winter use.
  • Check other vital fluids.
    This includes fluids for the engine, coolant, transmission, brakes, power steering and windshield washers.
  • Maintain hoses and belts.
    You can check hoses on a cool engine by pinching them. There should be no soft spots or bulging areas. Feel for lengthwise cracks in the inner liner of the hoses. Check all belts for worn spots, cracks or shredding fabric reinforcement.
  • Prep the battery.
    For maintenance-free batteries, check the window on top to see if it’s fully charged. If it’s not, have it professionally tested. For conventional batteries, remove the plastic caps on top of the battery and check the fluid level. If it’s low, add distilled water. Make sure battery cables are securely attached to the terminals. If your battery is more than five years old, consider replacing it.
  • Check the brakes.
    If your car pulls to one side when you brake, or if you hear any grinding noises or feel unusual vibrations when you apply the brakes, take the vehicle to a mechanic.
  • Make sure you have appropriate tires.
    Partially worn tires reduce your ability to stop or get going in snowy driving conditions. Winter tires have tread patterns and compounds that are specifically designed to grip snow and ice for good traction on slippery roads.
  • Pack an emergency kit.
    It should include a flashlight, flares or reflective triangle, a distress sign, first aid supplies, basic tools, blankets, water, and a fully charged cell phone. If you have roadside assistance, store the number in a handy location.
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Simple Tips on How to Save Money
Money Tips

3 Questions Before You Use Emergency Fund

by Jeff Dailey
written by Jeff Dailey

3 Questions to Ask Before You Use Your Emergency Fund

Emergency Fund

Protect your Emergency Fund


You know the drill—something breaks, wears out, or costs more than you can cash flow. So where does the extra money come from? If you’re following Dave Ramsey’s seven Baby Steps, you’ve got two options: dip into your emergency fund or start a sinking fund. 3 Questions to Ask Before You Use Your Emergency Fund
Your emergency fund is the money you’ve saved for those unexpected costs that would otherwise blow your budget, like a midnight trip to the emergency room. Your sinking fund is the money you’ve been socking away toward a future goal, like a cruise to the Bahamas.
But not every situation is as clear-cut as medical bills and island getaways. So what classifies as a true budgeting emergency? It all boils down to these three simple questions:

1. Is It Unexpected?

Life has a few surprises we could all live without. A job layoff is one of them. But your emergency fund should help by keeping your lights on and your belly full until you land that next dream job. And if a tornado or flood visits your neighborhood, it’s perfectly fine to use your rainy-day stash. Let it cover your insurance deductibles or other property damage your policy doesn’t cover—that’s what it’s there for.
Annually reoccurring expenses, however, are not an emergency. Christmas happens on December 25 every year. So there’s no excuse not to save up before the gift-giving season hits. Same goes for back-to-school shopping. It shouldn’t come as a shock that your kids need new binders, index cards and composition notebooks every August. By saving a little each month in a sinking fund, you can actually enjoy these big occasions instead of dread them.

2. Is It Absolutely Necessary?

Necessities are often confused with wants, but the two are oceans apart. If your car breaks down, that’s your transportation—you need to get it fixed so you can get to work! Or if you discover a forest of mold growing behind your bedroom walls, you need to have enough cash on hand to temporarily move out and pay for the cleanup. Those situations are emergencies!
But if you’re just tired of the bubblegum pink tile in your bathroom, or if you suddenly need a new convertible, think again. Your house and car may be ugly, but as long as they’re safe and reliable, cosmetic fixes are the domain of sinking funds. New stuff is great, but don’t steal from your needs to pay for your wants.

3. Is It Urgent?

When an immediate need arises, the last thing you should worry about is how you’re going to pay for it. So if your child catches a baseball with his face and needs stitches or your just-replaced furnace suddenly dies in the dead of winter, don’t stress. Focus on the task at hand and leave the rest up to your emergency fund.
Big sales, by the way, are not urgent. Just because your favorite appliance shop is having the closeout sale of the century doesn’t mean you deserve a new washer, dryer, oven and fridge. If you want to replace old but still-functioning appliances, flash all that cash you saved up in your sinking fund and see what kind of deals you can score.

If You Have to Use the Money, It’s Okay!

Your emergency fund may feel like a ton of money just sitting there doing nothing, but it’s actually doing a lot. It’s your insurance policy against the unpredictable.So don’t drain it just because you see something shiny and new.
On the other hand, give yourself permission to use your emergency fund if you have an immediate, unexpected expense. Just remember to replenish your savings as soon as you get back on your feet. You never know when you’ll need it next.
What unexpected, necessary and urgent expenses have required you to dip into your emergency fund?
By Dave Ramsey
www.daveramsey.com

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