Insurance for Less Save Money on Life, Health, Dental and Auto Insurance

Insurance for less money is a topic that is important for bot men and women.

Here are a few general tips regarding insurance: 

1. Always have health coverage. Medical bills can cost you thousands of dollars and end up on your credit report (should you be unable to pay). Even if you are between jobs, extend your previous coverage until your new coverage kicks in. For your children, if your family is uninsured, most states now offer free or low cost children's health insurance.

2. Become educated about different kinds of coverage. In order to get insurance for less, you need to know all about the different kinds of coverage available. You need to be aware of why they are necessary and how they are useful. In this section of Moms-Living-Debt-Free.com, we will help you by discussing how to save money on the following:
Life Insurance 
Health Insurance (and how to get an individual plan) 
Individual and Family Dental Plans 
Auto Insurance 
Homeowners Insurance 

3. Always shop around for best rates. There are websites that let different agents contact you and compare rates. I have saved hundreds of dollars by comparing rates on various kinds of coverage.

4. If you have multiple policies with the same company, ask for discounts. If you have your homeowner's and auto policies with the same company, you should be able to get discounts to get cheap insurance rates. Usually the discounts are anywhere from 10-20% of the normal quotes. Ask your agent about this.

5. Always use a reputable agent or company. If you haven’t heard of the company before, do research on them on the internet. If you are going through an agent, be sure to ask around to make sure he or she has a reputation for honesty. Remember, it’s often cheaper to buy insurance directly, because agents are getting a commission. On the other hand, some people like the convenience of having an agent they know help them with the claim.

By following these tips and learning about different kinds of insurance coverage, you will be able to get insurance for less. Do your research and make wise decisions to protect your family and your assets. 

A Budget: Why Your Family Needs to Have One!

Despite the importance of making a budget, for many people, just the word intimidates them. It conjures up mental images of living on Ramen noodles, or never taking a vacation. 

I remember when I was newly married, and   drafted my first budget for our family. I was extremely surprised at the amount of money we would need to make ends meet

Below are the reasons why YOUR family needs to have a financial plan:

 It will allow you to see what expenses you have and how much money you are currently spending. With this information, you have a better idea of what you can eliminate, and how much money you need to be earning to make ends meet. I personally recommend the envelope system as an efficient and easy way to keep track of your money.

 You are better prepared to set up a savings plan. Once you know how much money you need to live, your family can more easily decide where you are able to “cut back” in order to save money.

Free Downloadable Microsoft Office Family Budget Template

 It is an excellent tool to help you get out of debt. It helps you to ask yourself the hard questions like: “Do I really need to eat out every week?” or “Do I need Cable Television?”

It helps keep your family informed. Sit down with your spouse if applicable, or your older children, and explain to them exactly how much money is allotted for certain items. This keeps you and your spouse on the same page, and helps your children to understand the value of money.

Remember, successful small businesses, large corporations, and even our government operate within financial guidelines--your family needs them too. 

What if you make one and find out you can’t meet your monthly bills?

First, evaluate what extras you can eliminate. Can you cut out your snacks or sodas from the vending machine at work? Can your children pack a lunch instead of buying it at school? Think about this: If you or your spouse spends $1.00 in the vending machine each day at work, that is $5.00 a week, $20.00 a month, $240 a year!

Next, think about ways to increase your income. Can you sell some things on Ebay each month? How about babysitting a few nights a week? Can you take a part time evening job?

Making your own budget will be trial and error. You have the freedom to change things and re-evaluate in order to make it work for your family. 

Whether you are newly married, married with children, or a single mom, now is the time to get your finances in order. Do not get discouraged—debt free living is worth the effort. 

Debt Free By 30 – Is this Goal Realistic or Possible?

Debt Free by 30 – this is a dream that a lot of younger people have, especially those who have learned about finances.

Some younger people would like to be debt free by 30 so that they can feel the confidence of owning their home, be able to stay at home with their children, or to be able to start saving for retirement. 

Perhaps you are struggling with debt from student loans or credit card debt. Maybe you or your spouse has recently lost a job. Is it realistic to have a goal of being debt free by 30, particularly if you are in your early to mid twenties? Some younger people would like to be debt free by 30 so that they can feel the confidence of owning their home, be able to stay at home with their children, or to be able to start saving for retirement. 

Here are some tips to help you reach this goal: 

1. Work hard. This sounds so simplistic, but it is the truth. Many people think of their twenties as still a “time to have fun”, but if you want to be able to pay off debt, you probably should concentrate on getting a good-paying job. Work as many hours as you can, and work overtime if possible. In fact, if your debt or loans are really high, you may want to take on a second job. At least when you are young, you will have a lot of energy for this! 

2. Spend Less Money. Every time you go out to eat, you probably blow $20+ that you could be using to pay down your debt. Add up all the little things you waste money on: expensive coffee on the way to work, name brand clothing, high-priced makeup, etc. Then stop spending the money. Every Friday or Saturday night if you go out, you are wasting more money, and time that could be spent working. I’m not saying you can never have fun, but living debt free does require sacrifice. 

3. Don’t expect to have the same standard of living as your parents. If your parents live in a beautiful house or condo, with a big-screen television, and brand new cars, realize that they worked for years to get to that point. Many newlyweds or singles make the mistake of wanting to have everything that mom and dad had right away. It’s just not possible, unless you go into debt to do it. Settle for the smaller apartment; put off getting the new car. It is worth it to save the money. 

4. Save money. If you do not have a savings account start one now. Online savings accounts typically give you the best rate of return on your money. Put aside a reasonable amount of money ($500-$1000) for a rainy day. Then save more as you are able. Of course, always make paying down your debt your first priority. 

It is possible to be debt free by 30 (or 40, or 50!). Do not be discouraged. Remember, you will be benefiting not only yourself, but your family and your children.

Debt Settlement Relief. How Can I Reduce My Debt?

Debt settlement is the process of negotiating a reduced payout between a creditor and debtor.  

If you have the time,  knowledge and resources, you can do it yourself.  Otherwise it’s often a better idea to hire a professional and pay them to take care of it for you. 

For many people, debt settlement is a last stop before visiting a trustee and filing for bankruptcy. It is also often less expensive and kinder to your credit rating.

Debt settlement is often confused with debt consolidation or debt management. In debt consolidation and debt management, the consumer makes monthly payments to the debt consolidator, who takes a fee and passes the rest on to the creditors; this way, creditors continue to receive payments each month.

In debt settlement, the consumer makes monthly payments, out of which the debt settlement company takes its fees for the legal work or negotiation and payments are paid to the creditor.

the debt settlement company may get the creditor to accept a settlement of 40 cents to the dollar, but the client pays 50 cents on the dollar. The debt settlement company benefit from the extra 10 cents in this case.

The concept of debt settlement is simple. Your credit card company would prefer to get something,
rather than nothing

With so many people in dire financial situations , many creditors are now willing to negotiate, so a debt consolidation loan may be worth considering.

In the present economy if your in debt trouble your in plenty of company. Credit counselors work with the client  and get between you and the creditor.

As an Alternative To Bankruptcy A debt settlement counselor negotiates better terms with the bank or credit card company. Be extremely careful there are bad apples in both camps and they're not all easy to spot. If you're contemplating debt settlement, first talk to an experienced bankruptcy attorney about your situation. If you decide to hire a debt-settlement company, be prepared to do plenty of research. with little regulation and no guarantees, you'll want to choose carefully. Bankruptcy is cheaper; debt settlement is faster.