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Book Review: A Beginner’s Guide to Buying Life Insurance

This is a really easy-to-use life-insurance guidebook which can help you plan for the unthinkable, and also learn how to use life insurance as a means of financial planning for your family. You might think you know all about life insurance, but in fact, there are several different kinds, some of which can actually be used as an investment to improve your family’s financial future, so that you can enjoy your later years if you do not actually pass away, but live until a ripe old age.

For others families with a large number of assets, they might decide upon a different type of policy in order to protect their hard-earned money from estate taxes and thus leave a larger legacy to their loved ones.

We appreciated the way that the author, Jim Franklin, laid out the differences between the policies really clearly. We also loved the little extra guide book provided for us to be able to download and print out to use when we were talking to our own Chartered Life Underwriter about the kind/s of policies that suited our personal life insurance goals. Reading books on a Kindle and other e-reader can be really handy, but we appreciate the time and effort the author and publishers took to provide this additional valuable PDF for us to download from a special supporting page they gave access to at their website through the ebook.

This handy guide will help answer your most important questions about life insurance, make your own calculations as to what you really need, and generally give you detailed information that will help you make informed decisions about what kind of life insurance. It also gives handy advice on the pros and cons of each type of insurance, and how to deal with the question of insurance pay outs.

Life insurance is certainly not cheap, but the authors give you an invaluable overview to help you understand exactly what you are buying, and why, and helps clarify your financial goals for your family, and the best ways to meet them, regardless of whether you are still alive, or have passed away.

We certainly hope we will all be here for many years to come, but this guide can help you plan for the best and prepare for the worst scenarios, and give you peace of mind knowing your loved ones will be taken care of in the event of you suddenly no longer being in the picture.

If you want to compare policies, watch out for insurance purchasing pitfalls, and use your life insurance as smart investment vehicle, this guide can help you with all of these goals.

Buy Now: A Beginner’s Guide to Buying Life Insurance (Money Matters)

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Setting a Realistic Wedding Budget

You have dreamed about your wedding day since you were a child. You might have envisioned fairy tale dresses, plush limousines, hundreds of your closest friends and family members, and dancing until dawn. After all, this is your special day and you want to give your new life the best start you can.

Now that it’s approaching, however, reality is setting in. You know you deserve all of your dreams, but perhaps you’re not sure just how you are going to pay for them all. You could max out your credit cards, but starting your married life deeply in debt doesn’t sound very romantic.

Therefore, it is time to come back down to Earth and start to set your wedding budget, and set your sights on items for your wedding that you can afford.

Setting a realistic wedding budget doesn’t mean you need to forget the fairy tale. It simply means you need to prioritize and plan how you will spend your money. That way you will be able to afford the things that are most important to you. And you will be able to start your married life without unnecessary, burdensome debt.

Begin setting your budget by setting your priorities. You have a vision of what you want your wedding to look like. But it’s time to take a more realistic approach. Decide which of the items you want to include are must haves, which are optional, and which would just be nice to have, but you could do without if you needed to.

Determine how much you can spend. How much money do you have saved for your wedding? How much will you be able to save before the big day? It’s important to be honest about how much you really can afford. That will help you avoid a lot of problems and conflicts as you plan your wedding, and ensure that you don’t create additional stress by running out of money too soon.

Decide how much you will spend on each area. Now that you know your priorities, and you know how much you have to spend, you can decide how much money you will spend on each area of your wedding. One way to organize this is to create a notebook sheet for each expense, such as dress, flowers, invitations, and write down your budget for that area.

Budget for the unexpected. As carefully as you plan, you may still have some unexpected expenses. If you overspend in one area, remember you’ll have to make up for it by spending less on something else.

Be creative. There are many ways you can cut down on the high cost of a beautiful wedding. Perhaps you can make your invitations so you can spend more money on your wedding dress. Do you have a friend who loves to cook for a crowd? Maybe she would like to help prepare the wedding feast. You can even rent your wedding dress, if you need to cut down in that area and spend more on others.

Setting a realistic wedding budget doesn’t mean you can’t have the wedding you always dreamed of. It is only a means of making it affordable so you can enjoy your day, without worrying about how much it cost.

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Further Reading:

Great Wedding Activities and Games: How to Entertain Your Guests at Your Wedding Reception and Other Wedding-Related Gatherings (Wedding Matters)

How to Shop for Great Wedding Favors on a Budget (Wedding Matters)

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How to Decide if You Need Credit Counseling

If you have been struggling with credit card debt, you may be wondering if anything can help your financial situation. Perhaps getting credit counselling has crossed your mind. Credit counselling and paying down your debt in a structured way is one of the main alternatives to bankruptcy, but it is not a fast solution, and there are some things you need to be aware of before undertaking such a step.

First of all, you might wonder whether it is worth the money, since credit counsellors and consolidators are really just middle men between you and the credit card companies. Having said that, they are more experienced at dealing with the credit card companies and negotiating favorable terms. If you are at all scared or intimidated at the idea of haggling with your credit card companies, then you might decide that the money you will have to pay for credit counselling and consolidation services will be worth it.

But before you hire anybody, you should at least attempt to negotiate with your creditors prior to hiring a third party to do it for you. There is no harm in trying, after all.

If you do not have any success, then it would be time to hire the services of a credit counselling and consolidation service. Look for a non-profit, and compare prices. Also keep in mind that a non-profit does not mean no profit, so you may find that the rates vary widely. Keep in mind also that whatever fees they charge COULD be money you would use to pay down the debt yourself in a structure way, so look at the payment plan they come up with and see if you might be able to do it better yourself.

If you are still not sure if credit counselling can help you, compared with you doing it yourself, there are a couple of other things you might want to keep in mind. The first is just how much debt you owe, and how bad things really are. If you are barely able to cover your minimum credit card payments, don’t have the daily cash flow for the essentials such as rent, utilities and food, and are really struggling from paycheck to paycheck, the credit counselling can help.

If you have fallen behind several months in your payments, they can also help.

You will also need to look at your level of debt. Some have a minimum to cover, such as at least $6,000, in order to accept you into a program.

If any or all of these situations describe where you are right now in terms of credit card debt, then there are several ways that you can find the right credit counseling program:

#1) Make sure they are accredited in your state.

This basically just states that they have the necessary credentials to deal with your case, and are approved by your state to deal with your debts. They should be part of the NFCC (National Foundation for Credit Counseling) or AICCCA (Association of Independent Consumer Credit Counseling).

The reality is that there are a lot of scammers in this industry who just take your money and are never heard from again. But you know that if a company has gone to the trouble of getting this accreditation, they will be able to help.

2-Read online reviews

There’s no better way to tell how honest a company is than to see what their current and past customers are saying about them. This is particularly necessary if it is a firm you have never heard of.

3-Look at their charges

Just make sure you avoid companies that require huge initial fees. Most legitimate firms will give you a free consultation and be clear about any and all fees. They will also offer valuable one on one credit counseling advice and offer free information through their website and through online classes, tutorials and more, so that you can not only get out of debt, but stay out of debt.

If you are looking at bankruptcy as your only option, remember that it really should be considered a last resort. It will stay on your credit record for 7 years even after it is discharged. If you are just looking for lower interest rates, call and ask. If you are looking for a structured way to pay down your debt with one single lower monthly payment and are willing to learn how to manage your money and cut up your credit cards, credit counselling may be right for you.

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How to Have a Great Wedding Even on a Tight Budget

Many people believe that the only way to have a great wedding is to either elope to Vegas or spend a small fortune trying to impress friends and family. But the truth is that you can have a great wedding even without spending a lot of money if you are prepared to do your research and be organized. Here are some ideas for creating a stylish wedding even on a tight budget.

Wedding dress
This can be the most expensive part of your wedding. In fact, a wedding dress by itself can cost more than the average wedding! But you don’t need to spend a fortune on your wedding dress to be a stylish bride. Instead of shopping at high-priced bridal shops, shop online at e-Bay or visit a second-hand store to see what is available. Also look for end of the season or end of a line styles. David’s Bridal also has $99 wedding dress sales at least a couple of times a year. You can even rent a wedding dress and formal wear for the wedding party if you have to.

Cutting down on the size of the wedding party
If your wedding party is getting way too large because of your fear of offending anyone if they are left out, STOP. This is an expensive undertaking for anyone involved, with formal wear, shoes, flowers and so on all involved. Have a maid of honor and best man if you need to, and leave it at that. You will save thousands of dollars and millions of logistical headaches.

Bouquets
To cut down on the cost of the bouquets, stay away from mixed bouquets with exotic flowers. Instead, choose flowers that are grown locally and are in season. Another idea is to order bouquets made up of the same flower rather than mixed bouquets. They cost less and can be very stylish in their simplicity. You might also consider silk flowers so that you can have a great keepsake, rather than spend money on cut flowers that will wither and die.

Meals
The reception is another high-prices item in most wedding budgets. You can plan a stylish meal without a lot of expense. Instead of a large sit-down dinner, look for alternatives such as a buffet, or a simple wedding venue with a caterer or your own family and friends all pitching in with finger food and more. You won’t need to pay for an expensive wait staff and everyone can relax and enjoy themselves.

Centerpieces
At the reception, the centerpieces are considered an important decoration, with flowers the most popular centerpieces. However, they can get expensive. A stylish and affordable alternative is to use candles. Float tea lights in small crystal bowls or light votives in votive holders. They don’t need to match each other – having an assortment can add to the stylish look. Instead of purchasing new, ask your friends and family members to bring candle holders from home, or use the holders at each table as the wedding favor for the guests to bring home.

Favors
Many wedding guests have come to expect a wedding favor, but the truth is that it can all start to add up, especially if you have a large wedding. Use the wedding favors you are going to give as decor for the table, or as part of the wedding photograph tradition when you thank people for their gift and for coming. Shop carefully and compare prices online.

Wedding cake
You might be thinking of a multi-tiered cake covered with handmade sugary flowers, but they are expensive and by no means essential. Instead, have your cake decorated more simply with some rolled out royal icing and some silk flowers. Another idea is to display a small formal wedding cake with a bride and groom on top, then serve a sheet cake to your guests. The sheet cake will actually be easier to cut and serve. Have cupcakes or another simple, easy dessert instead.

The main point of any wedding and reception is to celebrate a couple’s love for one another, not go broke fast. Organize yourself and look for wedding bargains. Plan ahead for great fun activities for your wedding and wedding reception, and you will be able to create a memorable wedding that your guests will recall happily for years to come, but without you having to pay the bills for years to come.

You CAN have a stylish wedding on a budget. Be prepared to think creatively and look for less expensive ways to create the impression you want.

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Further Reading:

Great Wedding Activities and Games: How to Entertain Your Guests at Your Wedding Reception and Other Wedding-Related Gatherings (Wedding Matters)

How to Shop for Great Wedding Favors on a Budget (Wedding Matters)

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How to Find a Cheap Wedding Venue

As soon as you decide to get married, one of the first things that you and your partner will discuss will be where you would like to get married. This will in part be in relation to a place of worship versus a secular venue, and whether you will get married at the same place where you plan to have your reception.

If you are in the process of looking around for a place to hold the reception, you are probably shocked by now at the cost of the most popular wedding venues, and the lack of availability as well. Even if you can afford it (or want to spend so much money on this one day), you might not be able to get the date that you want.

If you are on a tight budget, which many people are these days, you might be having visions of just eloping to Vegas rather than be shamed in front of family and friends with a cheap, budget wedding.

The good news is that there is a happy medium between go for broke and penny-pinching. The most important thing is to choose an affordable venue that everyone will enjoy, and one which will suit your personality as a couple.

If you are looking for more affordable venues for your wedding, here are a few to consider.

Your home/back yard.
Many clergypeople can officiate right at your own home. If you are planning a small, intimate wedding and want just your closest family and friends, this can be ideal, and very romantic and traditional at the same time, as well as very frugal.

Your favorite restaurant.
If you and your partner have a favorite restaurant, that may be the ideal place to hold your wedding. Some restaurants have rooms set aside to rent, or are able to close off a section for you. For a smaller wedding, this could be a very comfortable and affordable venue. The one drawback is that you would have to order your food from the restaurant as well. If you had planned to save costs by catering it yourself, that won’t be an option here. The good news is, you know for sure that you will love the food they serve.

Community halls.
Your local community hall likely has a room or the whole downstairs that you could rent for your wedding at a reasonable price. If you are a member of your community association, you may even get a discount on rental. They will probably also have a small kitchen you can have access to for preparing and storing food, and some equipment for serving.

Local church hall.
See if your local church will let you rent the basement or hall for your wedding. Most churches have small kitchens you could use as well. You may also be able to have your wedding ceremony in the sanctuary and keep the entire event in one place.

A city park.
Check out your local city or state parks, or local beauty spots such as a scenic overlook and see if they can be rented for weddings. For an added bonus, look for one that also has a fountain, or a pretty walkway. Some parks even have gazebos for just this purpose. With a few decorations, these can be set up to create a beautiful atmosphere. Some of them might also have areas for eating, with shelters in case it rains. You will want to have the whole place cleaned and discourage too much finery being worn, but if you are an outdoorsy kind of couple, this can be ideal.

Your favorite place.
Forget where everyone else is going for their weddings. Be different and hold your wedding in a place that is special to both of you. If you love horseback riding, hold your wedding out on the trail. Did you two meet at work? Maybe stage your special event at your workplace. For avid hikers, a mountain trail might be a meaningful and fun venue.

Don’t let high costs scare you away from planning a nice wedding your family and friends will love. There’s no need to elope. With some research, creativity and flexibility, you can hold your wedding in a lovely location without spending a lot of money.

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Preparing Your Household Finances for a New Baby

A new baby on the way is always an exciting and celebratory time. However, a baby can also be a huge financial challenge, especially if you don’t take the appropriate steps to prepare yourself. Keep these tips in mind when preparing your finances for the new arrival.

New Baby Expenses

1. Medical bills. Find out in advance what medical bills you’re likely to incur. This would include prenatal, delivery, and postnatal expenses. Do you have insurance? How much will it pay? If you don’t have insurance and have low income, your state has programs that will minimize the expense.

* Plan ahead. Depending on your insurance situation, you may want to have additional funds set aside for unforeseen medical issues.

2. Baby items. Here we’re talking about things like car seats, strollers, changing tables, cribs, bottles, clothes, diapers (2,700 just the first year!), rocking chair, swing, dresser, baby monitor, and more. Go out to your local store and price these items.

* Are you going to breast-feed? You may need a breast pump if you plan on ever leaving the house without the baby. If you’re not breastfeeding, you’ll need bottles, nipples, and formula.

* Do you need daycare or a baby sitter? Call around to compare costs or ask a neighbor or friend what the going rate is for daycare in your area.

Lower Your Costs

1. Borrow and buy used. Babies outgrow things long before they wear them out. You shouldn’t have any problem finding quality used baby clothes, toys, and furniture. There are even stores that specialize in used baby items. You can also check on Craig’s List.

* These used items can be much less expensive than new stuff.

* When the time is right, tell everyone you know about your happy news. You’ll almost certainly be offered plenty of baby-related items.

2. Wait for gifts. People can go crazy giving gifts when a baby is involved. You never know what you’re going to get. Wait until the dust settles before you start making purchases. The gifts you receive can be a real financial boon. Be patient so you don’t get stuck with two of the same thing.

3. Remember that you don’t need everything. Your baby doesn’t require every gadget under the sun to be safe and happy. Ask the mothers you know what they consider to be the most important items.

4. Start saving now. You can never start saving too soon. Now is the time to eliminate all those things and services that you don’t really need. Sit down and look at your monthly bills and find ways you can cut back. Reduce your expenses as much as you need to so you can save enough money to be as comfortable as possible when the baby arrives.

5. Review your life insurance and will. Sit down with the appropriate expert to ensure you have the proper insurance coverage when the baby arrives. Also be certain that your will is up to date. A Beginner’s Guide to Buying Life Insurance (Money Matters)

Preparing for a new baby can be an exciting time. For the smoothest first year for you and your little one, remember to include financial preparations as well.

Smart Spending Strategies (More for Less Guides)

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Investment Questions and Answers: Investing Safely and Smartly

Q: I recently received a call from an unfamiliar stock brokerage. The guy was offering some unbelievable interest rates I would earn if I were to investment some money there. He wasn’t representing one of the nationally known brokerage firms I’d ever heard of. I told him I’d have to think about it.

Then he said, “Why waste time? Invest your money now so you can start earning immediately!” I was still a little leery and politely declined again, stating I’d call him back in a day or two.

He then said, “You have to act now. The deal won’t be available after today. You’ve got to do it right now.” I eventually had to hang up on the guy because he just wouldn’t quit.

Do you think I missed a golden opportunity to earn big money? Did I make the wrong decision?

A: You did the right thing by declining to give the caller any cash.
I suspect you didn’t miss any “golden opportunity to earn big money.”

Although we don’t know for sure if it was a scam, all the signs are there. You didn’t know the person who called. He made a “cold call,” probably out of the phone book or off of some phone list he obtained.

The caller used high pressure tactics to try to coax you to invest your money. And he promised interest rates that were too good to be true. Then, when you declined more than once, he made one more last ditch effort to pressure you to invest by telling you the deal was now or never.

To avoid financial scams, it’s important to know the person who’s offering you an investment opportunity. Check out his credentials.

It’s wise to go with a well-known investment firm. These firms usually hire educated and experienced financial professionals.

Avoid investing any money with anyone who calls your home or knocks on your door without an invitation from you.

Plus, if someone’s pressuring you to put your money into an investment, that’s another clue it could be a scam. And if the deal sounds too good to be true, it probably is.

Finally, although there are some legitimate investments that are time-limited, if that’s the case in conjunction with these others signs, it’s best to decline the offer. It’s wise to be cautious when considering investments in today’s financial environment to avoid scams.

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