Are you aware of these myths surrounding life insurance policies?

Strangely enough, people may end up digging out a number of reasons for not taking up a life insurance policy. While some of them reason that they are not “old” enough to purchase a cover, there are others who simply opine that life insurance policies are a sheer “waste” of money. However, if you sit down to think deeply about it, you will only be able to understand that a properly selected life insurance scheme only serves as a well-thought- out financial decision owing to the fact that the financial security of your family depends on it.

Most of the fallacies (like the ones mentioned above) spring from the fact most of the individuals are not really interested in educating themselves about life insurance in general. It is very important to get rid of the “overwhelming” myths surrounding life insurance before purchasing a policy. So what exactly are these “myths”? Read on to find out!

The main objective of life insurance is saving tax

No! not at all…. There is no death of individuals who actually think that the basic function of life insurance coverage is to help you save up substantially on tax. However, tax savings are only an “added” advantage of securing an insurance policy. Its chief purpose is to protect your family during your absence and also to help you in establishing a substantial corpus for yourself to lead a comfortable retired life. In short, tax saving is only the secondary benefit— not the primary one.

Buying insurance is not necessary when you are single

There are some, who simply rule out the importance of life insurance from their lives owing to the fact that they are not single and do not have dependents. Needless to mention, it’s simply not advisable for you to think on those lines. If not for your dependents, you should consider investing in a life insurance policy to see through your own post retirement days without hassles. You, in fact, can opt for a money-back plan which offers you returns at regular intervals.

Insurance only offers post death benefits

Again…one of the overwhelming misconceptions surrounding insurance policies is that they offer benefits only after death. But that’s simply not true! By now (after coming across the post), you must already have gained an idea as to how an insurance policy can actually help you in your post retirement days. You can opt for an endowment term where you will be paid a lump sum after a fixed term.

You do not require an insurance cover because you are young

It is better, in fact, to consider an insurance plan when you are still young. It will help you fund crucial events of life like marriage, child birth, your child’s education, marriage etc.

Life insurance plans are costly

The cost of plan will vary according to your needs. Perhaps you should study your needs first and then zero in on a scheme which will meet your objectives. There are no written rules that insurance plans will be costly. Make sure you are comparing the rates offered by premium carriers in this regard.

Few Important Points That Will Help Single Mother While Availing Auto Insurance

Of late there has been much discussion regarding the financial condition of the single mummies especially about their living conditions. The single mothers often have to go through the emotions trauma and financial hiccups simultaneously. In fact, according to research, the financial condition of a single mother is worse than the majority of the population in the country. Saving money through different avenues is an important task for the single mothers. An effective way to do is through saving in their car insurance. This does not mean that you will save on the insurance premium resulting in less coverage through the policy.

Save on premiums

There are few points that you need to keep in mind that will help you to save money without compromising on the amount covered by the policy. Often the single mummies opt to but the used cars to reduce the overall expenses. This is because the value of the car depreciates quickly and often people buy used car to lower their expenses. Irrespective of the car that you buy, you need to remember that you have to shell out money for the same. The auto premiums that you will pay depend on different characteristics of the car.

Risk is low

When you buy a used car the premiums that you pay against the insurance amount is low. This means that you can even save some money through the premium amount. Another benefit of the used car is that if the car is damaged or stolen, then the expenses that you need to incur for the same is low than that of a new car. Thus, the insurer also faces the less risk when dealing with a used car. However, it is important to remember that the liability rate is not affected by the age of the car, so its proportion in the insurance policy remains to be same all through.

Emphasize on safety

Safety is an important issue while dealing with auto insurance. To keep the insurance low of your used car, you need to conduct some amount of research regarding the car.The insurance companies often track the safety factors of the model of the car that you have purchased. There are also instances of discounts being offered on the used cars that are safe and have a good track history.So, if you are still confused regarding the choice of a car then consider the safer one or the one that is equipped with safety measures.

Decide on the deductible

Deductible is another factor that you need to consider while availing car insurance. Low deductible lead to more insurance, so make sure that the deductible on your insurance premium is within a range. According to the financial advisors, it is advisable to keep the deductible low on the new cars but, more on the used cars. This is because the used cars have already incurred some amount of cosmetic damages and it is the discretion of the single mothers whether they want to evade it or pay for the repair work.

Have the detailed information

Prior to buying a car, make sure that you have the detailed information regarding it. Make sure that there are no dues or any other pending payment against the car. While availing the car insurance compare the rates that are offered by the other auto insurance companies. As per the rule of the thumb, you need to consider the quotes of at least three providers. You can also opt for the online option for the same. The federal government department of insurance can be of great help to the single mothers as they give detailed information regarding the rate that should be levied on each transaction.

Author Bio: Kelly Moore is a single mother and she was worried about her financial condition. She went through visiting for affordable automobile insurance cover and to know the ways to save money on car insurance. Also planning for ladies to have a new insurance benefits.

Relocation Assistance: Interesting Incentives for Short Sale Borrowers

If you’re facing a foreclosure, you have many different options to avoid the pain and discomfort of this process. Banks have an incentive to help you too, because it can cost upwards of $50,000 for the bank to process a foreclosure. If your home is worth $250,000, that’s a sizable chunk of the value of the home. Fortunately, there are win-win options that are much less expensive.

The Problem

When you sell a home short, you’re selling it for less than what you owe on the house. This presents a major problem. You need to make up the shortfall on the loan, but you can’t. The bank is forced to take a loss. With no money, you’re stuck for options as to how to move. The bank wants you out of there once the sale is complete.

Many NJ short sales agents can sell a home short within 6 months – that doesn’t give you a lot of time to find a new apartment.

The Incentive From Banks

Fortunately, banks are looking out for their own interests. Because they want you out of there, they are willing to put up some money for you to take care of the home. This is called a “cooperative short sale.” With this incentive, the bank pays you $1,000, up to $10,000 or more to stay in the home and take care of it until it’s sold. You pay no mortgage payments or rent.

The bank is willing to do this because they get a low-cost property manager and it’s cheaper than going through foreclosure.

Relocation Assistance

Relocation assistance programs can put additional money in your pocket – up to $3,000 to help you move. This money is available through the Home Affordable Foreclosure Alternatives program (HAFA). Of course, there are also non-HAFA short sales that provide you with money for relocation.

Banks can give you more than the amount allowed under HAFA – sometimes up to $20,000 or $30,000. In some cases, you can get both the HAFA and non-HAFA relocation incentives.

This could amount to a rather significant sum of money – money you use to find a new place to live. It could even be enough to pay your rent in your new place for up to a year or more.

Tenant Incentives

If you’re a tenant, and your landlord is losing the home you rent or you have tenants in a home you’re selling short, there may be incentives for the tenants to move too.

Tenants that are forced out of their rental homes or apartments generally get a security deposit cash sum plus additional “cash for keys” incentives to move out on a predetermined schedule.

What You Should Do

Before you get too excited, you should contact your lender and your real estate agent to get more details about what you qualify for. Not everyone qualifies for the same amount, and some of the incentives are quite paltry, depending on your actual expenses and needs for money. Other times, the incentives are very attractive and make you almost wish that you had taken this kind of offer sooner.

Lisa Anders has worked as a real estate consultant for some time now. When she has the time, she enjoys sharing information with others by blogging online. Look for her articles on a variety of real estate and homeowner blogs.

Smart Investing: Top Tips for Finding a Forex Broker

Finding the right broker that suits your trading needs is very important and when you make the right choice, it should definitely help rather than hinder your prospects of trading successfully.

When you are trading liquid Forex markets, these markets often have varying liquidity and opportunities that present themselves need to be actioned and executed as swiftly and efficiently as possible, which is where a good forex broker comes into the equation.

Narrowing down your choice

A fundamental point to consider when you are trying to choose a forex broker is to establish and consider what general brokerage type they belong to.

There are three distinct types of forex broker. The first is a Market-Maker, and they will form a two-sided market to customers of their dealing desk. This means that they can take either side of a trade provided that they buy on the bid and then sell on the offer side.

A forex broker who is classed as a market-maker will take the other side of your chosen trade and then either offset that trade or elect to keep it running depending on their opinion as to the market’s direction.

If you choose an ECN broker, you should be aware that an Electronic Communication Network broker does not actually have a physical dealing desk. An ECN is basically an electronic platform to facilitate the trades of market makers, traders, banks and any other participants who wish to enter competing bids and offers through the network system.

A No-Dealing-Desk brokerage is exactly that. Although it lacks a dealing desk it does offer you access to multiple liquidity providers instead. These providers post their best bids and offers with the No-Dealing-Desk, in the hope that they can fill these orders and earn a marginal profit by increasing the dealing spread.

Important considerations

Making the right choice of broker is so important for a number of extremely valid reasons and when you consider that a poor execution service can actually cost you lost profits and opportunities in a fast-moving environment like the foreign exchange markets, it is worth taking the time to get it right.

The amount of starting equity that you have available will to a certain extent dictate your available choice, but here are some other important considerations as well.

You should check to see what regulatory body oversees the broker that you are thinking of signing up to. It is also of high importance that you establish how the funds you are lodging with them are insured.

You should also check how fast they are with their executions and get some other traders opinion on this factor rather than simply accept the testimonials and information given on their website.

Other considerations that could well be important to you include finding out if orders are executed automatically on a system or put through manually. Find out if they charge separate commissions or they are part of the spread, and also establish if any margin balance you have will attract interest.

Having the right forex broker is akin to having the right vehicle to get where you want to be. If they can’t offer what you need or want, you are simply making it harder for yourself to make a profit from the forex markets.

Spencer Dawson is a longtime Forex trader with his own helpful broker. An avid writer, he likes to share what he has learned over the years on various websites, so newcomers to the Forex field can learn by his experience.

Getting Your Small Business Out of a Financial Bind

Getting Your Small Business Out of a Financial Bind

Even today with more help and benefits to small businesses than ever before, most small businesses still struggle financially at one point or another. There are a lot of hurdles to jump over and a lot of expenses that only increase as your business grows. For those small businesses that are already in debt, it can seem like a never ending fight in a battle that you will never win.

No need to throw in the towel yet, there are a lot of things that you can do to not only keep your small business going, but also to ensure its future success. It is just a matter of understanding why you are in debt, how you got there, what you need to do to get out of debt, and how you can prevent it in the future. Here are some tips to help you get your small business out of a financial bind.

Find out where exactly you owe money

This may seem like a silly question, but many business owners do not really know who they are paying when they are paying past due bills and other debt. This is not only dangerous to your businesses financial situation; it can also hurt your credit and lead to identity theft. Find out exactly where you owe money. If it something that you don’t remember doing in the first place, you may not actually owe them anything. Double check that any credit agencies are legitimate before you start making payments. That way you will only pay what you truly owe and you will keep your identity safe.

Pay off debts based on deadlines

The farther past the due date that you go on your debt, the more you will pay in interest. Therefore, it is a good idea to pay off the longest standing debts first to eliminate paying more in interest. That being said, if you have any debts that have higher interest rates, like a high interest credit card, pay those debts off first. That way, your business can pay less in interest and have more to continue paying off debts. If you come up short with collectors that simply will not wait anymore, you can take out a small loan from to make up the difference with a lower interest rate.

Mend your public image

After your small business has gone through a significant financial loss due to debt, many people might be skeptical to do business with you again. It is a good idea to show that you are paying or have paid off the debts that you once owed and focus everyone’s attention on the positive future that your small business has. Create a new marketing campaign centered on the future and your customer’s future benefit from working with your business.

Prevent future debt

Once you have everything paid off and have everyone back on your side again, you can begin to create a plan to help your small business avoid ever getting into this position again. You not only need to understand how you got into debt in the first place, but also how to prevent that same situation from happening again. Find some new ways to help your small business save money every day to build a safety net for future financial troubles.

Author Bio:

Tina Hamilton is a journalist, blogger and social media guru. You can usually find her online or walking along one of Southern California’s beaches with her dog, Joey. You can find her on Twitter.

Understanding money management technologies

Taking control of your personal finances and cash balances has never been easier. Gone are the days when we had to transfer money between checking accounts by completing paperwork at a bank. Before banks moved to digital record keeping even paying cash into an account required forms and signatures.

Times have changed for the better; technology now provides fast, secure and easy ways to move money. Monitoring, moving and accessing money from and to multiple locations is the key to good money management. Modern technology is also helping people to budget better; we no longer need to keep every paper receipt to be able to manage our expenses.

Money management systems

There are many money management systems on the market today and each serves a specific purpose. Some solutions are designed to work on desktop computers, some operate on secure websites and there are now apps for smartphones.

The type of solution you choose really depends on your needs. If you are managing your household budget a web-based service will allow you to quickly update your records. If you are rarely near a computer you should invest in a good app for your smartphone.

As demand continues to grow we are seeing more all-in-one-services, such as, which records your spending for you. It automatically categorizes your spending and creates visual representations of your spending patterns. If you start spending more in coffee shops or on alcohol the software will alert you; this acts as a prompt to reduce spending.

Quicken is a desktop solution that has been a popular choice since 1983. They have also acquired Mint, which widens their offering. Quicken provides people with access to loans and mortgages too. This is a premium service, but the main advantage is that it links into your bank and credit card accounts so that you do not have to manually input your income and outgoings.

Of course, you do not have to use dedicated software. A spreadsheet can be utilized to manage all your income and expenses from month to month. Software and apps just make it easier.

Managing money whilst travelling

An advancement of smartphone technology coupled with an almost universal availability of wireless Internet has led to a boom in mobile money management. These solutions are ideal for travelling businesspersons and people on vacation.

If you have ever encountered a money problem while on vacation, with no access to your bank, you will appreciate how useful the latest money management solutions are for travelers. New services provide a very easy and secure way to transfer money to anywhere in the world at a very competitive rate.

Until this new age of mobile technology the only ways to transfer money overseas was to either ask your bank to arrange a bank-to-bank transfer or to use a street money transfer company. Both options involve exchange rate fees and handling charges.

However, mobile technology has allowed for huge cost savings in the money transfer industry. This is one of’s benefits; they provide fast and efficient ways to transfer money from any currency at rates much lower than banks charge.

Are we better with our money?

Money management is certainly easier than ever. Income and expenses can be automatically tracked and money can be transferred quickly and securely. This is certainly saving us time, but are we becoming better at managing our money?

The best way to be responsible when gambling

For many people today, their number one method for accessing casino games is through online casino sites. These sites provide gamers with the same games they would find within a land based casino. Since there have been many advancements in technology in recent years, these sites have come to provide very realistic gaming. However, when playing online there are some considerations that players must make to ensure that they are gambling within a responsible manner.

It can be rather easy to lose track of how much money you’ve gambled especially with how banking works at an online casino site. When you’re not holding physical money, this is even more of a concern. Anytime you’re preparing to go gamble online, establish a limit for yourself – this is an amount of money you can afford to lose. While establishing the limit is important, sticking to it is just as important. Never be tempted to add more money to your bankroll to keep playing, this is a pitfall some players fall into. They chase their gambling losses by continue to bet more money which often doesn’t work for them. Walk away from the game when you’re reached your limit, the online casino will be there for another session when you’re mentally and financially ready.

While money management is important another important resource is time. When you’re playing at an online casino, time can quickly slip away. When playing at home, you do have clocks within view, unlike when playing at a land casino. Decide ahead of time what the maximum amount of time is you can spend gambling. Like your monetary budget, when the time determination is met, then you really should walk away even if you still have money left. Some players find it helpful to set a timer.

Five Must Dos for Keeping Credit Card Debt Manageable

You just got a new credit card, and you’re excited about using it. But, before you go out and blow up your shiny new plastic, take some time to think about how to manage this debt responsibly. That bill will come due in 30 days. So, the “free” money isn’t really free.

Be Careful About Which Cards You Apply For

There are many aspects to choosing a card. If you have a card already, put it down and pick up the terms and conditions you got with it. What is the interest rate? What does the card company charge for cash advances? What other charges does the company assess? Is there an annual fee?

What is the grace period on payments? What is the penalty for late payments? You want to know all of this before you charge up the card. If the terms seem unfair, don’t shrug your shoulders and go on a spending spree. Don’t be afraid to apply for credit card terms with other companies. Not all companies offer the same terms.

Make Smart Buying Decisions

Try not to buy disposable items on the card. This is a difficult temptation to resist, but it’s important that you resist it nonetheless. For example, groceries are already expensive. You don’t need to add interest to that and make it an ongoing monthly debt.

Try to charge large, productive, expenses to the card. For example, if you’re going to carry a balance, use the card to pay for educational expenses or car expenses – something where whatever you spend the money on will help you make more money or maintain your current income so that you can pay off your bill.

Alternatively, save the credit limit for emergency expenses.

Pay Off Your Debt Every Month

If you pay off your balance every month, and this should be one of your goals, it’s OK to make “everyday” purchases. You will not accumulate interest on those purchases so it becomes a way for you to “smooth out” your income and expenses. This might help if your income is somewhat variable during the month.

Don’t Be Afraid To Negotiate

Credit card companies are open to negotiation. Call them up. Negotiate your rate. This works particularly well if you’ve been a customer of theirs for years, and have accounts in good standing. But, even if you’re new, you may be able to negotiate a better rate based on your excellent credit rating.

Opt Out Of Card Rate Increases

You might not realize it, but you can opt out of rate hikes. How? By calling your credit card company and telling them that you don’t want to accept the terms of the rate hike. Your card issuer will suspend your card privileges (you can’t use your card anymore), and you’ll have to pay off the balance in 5 years. But, at the end of it, you may be able to reinstate your card, though it will be at the higher rate. Of course, you could just leave the card dormant and inactive. The card issuer will likely cancel it when you’re finished paying it off.

Michael Cobb has always had a knack for numbers. As a personal finance counselor, he often writes about foundational principles of managing budgets and other smart money decisions.

Weathering the Energy Bills: Staying Warm in Cold Snaps without Spending a Fortune

When the temperature drops unseasonably but you know it will only last a few days, you may not be keen to turn on the central heating for the whole house. So what can you do to avoid the chills when cold snaps bite? Here are a few ideas to keep you cosy without increasing your energy bills.

Keep Warm at Night

Don’t get the chills at night, and instead follow a few simple tips to make sure you stay warm under the covers.

The classic way to warm up a cold bed is to use a hot water bottle, so make sure you have one of these handy for when the cold nights cause problems. Another great option is to get yourself an electric blanket. You can buy electric blankets from a local store, or you can shop for one online and get it delivered to your door. And of course, you can always throw on an extra blanket or two, so make sure you have one of these ready in the cupboard.

Block the Drafts

Even a small draft can make a room seem a lot colder, so when the temperature falls, get ready to block up the gaps. Close the doors in your house so that the colder air from the rooms you are not using does not transfer to the warmer rooms that you are using. You can also use draft stoppers underneath the doors to block the cool air from entering. Other areas to block up with something include keyholes, the letter box and the cat flap if you have one. Get them all covered and it can make a big difference.

Let the Sun In

Sunlight is a free and effective source of heating, so make sure that during the day you open all of your curtains and let as much light into your home as possible. Then remember to close your curtains as soon as the sun goes down to trap the cold air that forms next to the windows.

Don’t Use the Bathroom Fan

If you normally use a bathroom fan to get rid of the build up of steam, turn it off when the temperature drops for a few days. The humidity in the air will make it feel warmer, which will make your morning shower more comfortable.

Double Glazing

Installing double glazing is a more expensive option, but it can help to trap the heat in your home as soon as the temperature drops, saving you the need to turn on your heating until it is really necessary and improving window efficiency.

Put On a Jumper

The simplest way to stay warm when a cold snap hits is to wear more clothes inside the home.

If you have your winter clothes stored away, get some of them out early and have them on standby so you can wrap up warm in the evening and avoid turning on the heating.

And of course, there is nothing like a hot chocolate or bowl of soup in the evening to keep you cosy whatever the weather outside.

Stay Warm Without Using Heating

It can be a nasty shock when the weather suddenly takes a turn for the worse. If you are not ready to turn the heating on just yet, follow these tips to make sure you stay warm and snug even without turning on the heating, which will help you to save money on your bills.

Maddison Wilhelm runs a budget-minded household. From couponing tricks to saving on bills, she often blogs about ways to live well on a tight income.

Improving efficiency for first time entrepreneurs

Most entrepreneurs will attest that starting a business can be highly exciting. There is something very satisfying about building a successful venture and not being answerable to anyone. While most first time business owners are aware of the responsibility they have taken on, some seem unable to handle the new demands on their time.

The zeal to succeed can drive first time entrepreneurs to spend more time buried in their work; however, long working hours coupled with inexperience often contribute to inefficiency. Business owners who put themselves under immense pressure usually find that they become stressed and overworked.

It is therefore important for entrepreneurs to learn how to work smart as opposed to working hard. The following simple tips can help first time business owners to increase their efficiency and boost their productivity.

  • Efficient time management.

Learning how to manage available time is an essential but tricky skill for any entrepreneur to grasp. Beginner entrepreneurs should learn to start working early in the day to make the most of the time they have. Smaller tasks such as answering emails, returning calls or dealing with paperwork should be done in batches at an appointed time later in the day to avoid interrupting any important work.

  • Prioritizing tasks

In order to increase their efficiency, individuals who run their own businesses should learn how to prioritize their daily activities. Tasks that are deemed most important or urgent should always be carried out first before doing anything else.

  • Outsourcing.

Novice entrepreneurs usually err by attempting to do everything on their own, leading to frustration. Outsourcing is a cost-effective solution that can help such business owners to increase their productivity while allowing them to stick to their core functions. Contractors or freelancers can be hired to deal with time-consuming or repetitive tasks. Accepting payroll help and administration aid from Atlantic Umbrella or any other umbrella company is also sure to make work easier for the business owner.

  • Hiring a passionate team.

When looking to hire employees to join their team, new entrepreneurs are advised to select individuals who share their vision and passion. Such employees are usually highly motivated and are more productive in their work. Business owners should also endeavor to build, retain and grow their team of employees for greater and sustained efficiency in their businesses.

  • Embracing technology.

With all the tablets and smartphones around, novice businessmen have a plethora of apps to choose from to help streamline their business functions. Entrepreneurs should take advantage of technology to stay in touch with their clients or suppliers or to learn more on how to make their ventures more successful

  • Scheduling personal time.

Business owners need to set aside some personal time each week. They should use this time to indulge in their hobbies, travel or hang out with their friends and families. This downtime is important as it helps them unwind, de-stress and recharge in readiness for another hectic working week. A relaxed and inspired entrepreneur is likely to be more efficient and productive at work.

A guide to the ultimate energy efficient home

One of the main forces driving innovation in modern building design is the need for homes to be energy efficient. Increasingly, homeowners demand properties that function on both aesthetic and environmentally friendly levels. Fortunately, it is possible for homes to simultaneously look beautiful whilst using energy wisely. A modern eco-friendly home has efficient insulation that [...]

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Philanthropy in the business world

Due in part to the recession and a decline in general standards of living, people are much more cynical about big business than they used to be, and it can be hard for business owners to explain how what they do helps wider society. One answer to this is philanthropy, through which business people can [...]

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Dealing with a compensation payout – your options

Receiving compensation after an accident at work can be a huge relief, finally bringing closure and providing the financial support necessary for recovery.  But while there’s lots of help available when you set out to win it, you might find yourself short of good advice on how to spend it.  Most people actually spend all [...]

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Buying a Home: Top 5 Reasons to Use a Real Estate Agent

You’re ready to buy a home, and you’re considering using a real estate agent, but you’re not too sure whether you need one or not. After all, you don’t relish the idea of paying 3 to 6 percent commission on a home. There would have to be a really good reason to hire one – [...]

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Insurance vs. Savings: Knowing the Difference When It Comes to Your Health Care

The differences between health insurance and a health savings account are not always clear. In fact, this murkiness is likely responsible for the relatively low adoption rate of health savings accounts even though they offer a number of benefits over traditional health insurance. The differences between the two types of health care coverage are explained [...]

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