As the life insurance industry web site lifeiline.org says: "If someone depends on you financially, chances are you need life insurance."
It's simple. Having life insurance is the way to make sure your loved ones will have the money to replace the income that goes away because you're not there to earn it. The insurance benefit is there (if you get enough) to replace your income so that your family's expenses, lifestyle and future lifestyle including retirement and lifetime financial goals.
One of the interesting attributes of life insurance is that it is income tax free to the beneficiaries. When you lose someone you love, it will be a difficult time emotionally but that should not be compounded by financial difficulties.
If you're young, old, married or single you may need life insurance.
Married
In today's world, most families use two incomes to keep up with expenses and hopefully create some savings. The question is if you passed away or your spouse died, could you maintain your current way of life? There's an interesting saying: "Life insurance makes sure that your plans for the future don't die when you do."
Single Parent
A single parent is both parents built into one. The life-line.org site states that: Nearly four in ten single parents have no life insurance whatsoever and many with coverage say they need more."
Empty Nesters
Your children are out of the house and your mortgage is paid off, a need for life insurance? Maybe. Your spouse would still have expenses and may outlive you by many years. Living expenses are still there and with inflation could grow dramatically. The question to ask yourself is: Would your cash flow, if you didn't have life insurance, allow your spouse to continue his or her financial way of life? Also, would there be enough to pass on to children or grandchildren?
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Author, Neil Willner, owner of Life Insure.com, Life Insurance Direct, provider of life insurance quotes and information, writes articles on life insurance, whole life insurance, and term life insurance for LifeInsure.com. For more information, visit www.LifeInsure.com.
How To Save Money On Groceries
Of course you can save money on groceries by using coupons. Below is an explanation of how to best do that. Don't want to clip coupons? Me neither, and there are other ways to save. Those can be found here as well.
Coupons usually only save you money if you use them on things you normally buy or things that can replace what you normally buy. In other words, if you use a coupon to buy a new sugary "fruit" snack that you don't normally eat anyhow, you didn't save money, but spent more. Getting a different brand of orange juice for less with a coupon, or getting the same brand you normally buy for fifty cents less - that makes sense.
Coupons become especially valuable if you have stores in your area that offer "double coupon" days. They limit the doubling to coupons of fifty cents or less, though, and you need to use them the right way to get the most out of them. The "right way" is to buy the smallest size you can find of the coupon item.
Why? It is a matter of getting the lowest per-unit cost. For example, a doubled 50 cent coupon saves you $1 off a $4, 12-roll package of toilet paper, meaning it cost you $3, or 25 cents per roll. Use that coupon to save a dollar on the $1.39 4-roll package, though, and it costs you just 39 cents, or less than 10 cents per roll. Find dollar-size products that you have fifty-cent coupons for, and they are free.
Is it all worth it though? Clipping coupons and analyzing per-unit costs? Maybe, maybe not. There are simpler ways to save money on groceries, though.
Five More Ways To Save Money On Groceries
1. Never shop hungry. That's all there is to this tip, and you can figure out why this will save you money.
2. Try store brands. Some are as good as name brands and some aren't, but usually all are cheaper, so why not at least try them, but maybe without telling the kids.
3. Stock up during sales. We bought 20 or 30 cans of tomato paste when it was on sale for 10 cents per can. Stock up when things that are 30 to 80% off and you'll be eating cheap. Do this with any non-perishables.
4. Follow the per-piece/per-pound rule. When the price is per piece, buy the largest fruit or vegetable. You obviously get more for your money. Less obvious, is that you should buy small pieces when the price is per pound. You might buy four small bananas for the price of 2 large ones, but you'll still only eat one at a time, right? Again, you get more for your money.
5. Be an opportunist. Buy what you like - when it's on sale. Do you really need oranges every day? Get them when they're cheap. When they aren't, buy orange juice or grapefruit or whatever is on sale. As a grocery opportunist, you get plenty of variety. You even get everything you like, because everything goes on sale once in a while. Bonus: when fruits and vegetables are cheapest, they are also usually the highest quality, because the season is at it's height. This is a great way to save money on groceries.
Steve Gillman has studied unusual ways to make and save money for thirty years. To learn more, visit his website, Unusual Ways To Make Money: http://www.UnusualWaysToMakeMoney.com
Payday Loan is Costly Cash?
A payday loan is indeed a very expensive loan as claimed by lots of people when compared to other types of loans – no doubt about it! It's a norm that the annual percentage rate (APR) of a typical payday loan gets up to 300% and even to a staggering 1000%. However, payday loan is costly cash only holds true when a borrower treat payday loan as a long-term loan! Most of the time, we heard unlucky stories of borrowers caught in an unrecoverable bad credit dilemma and payday lenders are all to blame. But wait! Have a look in the details of the story. You'll find that in fact, they are to be blamed for these unfortunate situations. Most of these unlucky "victims" share a common mistake - they didn't plan their financial budget properly. They don't settle the loan as soon as it ought to be and worst when they roll-over the loan times over times! What if a borrower clears up the loan without roll it over? For sure the situation wouldn't get that bad and disastrous.
Let's take a look at the true purpose of payday loan – to work out any emergency cash flow problem in short run. Short enough to get you over to the next payday. It's hardly comparable when ones look at other finance charges such as late payment charge, bounce back charge, NSF charge and etc. If all these charges are converted to APR, they yield to an even higher rate! Well, some may claims that these charges are not a form of credit and hence APR is not applicable! But from a consumer's point of view, they are the same – the same money consumers pay!
Typical charges found under different cases for example:
NSF fee at banks: $28
Merchant Returned Check fee: $20
Credit Union NSF fee: $18.91
Apartment Rental Late Fee: $30.22
Mortgage Lender Late Fee: $28.24
Auto Lender Late Fee: $20.33
Utility Late Fee: $15.25
Utility Reconnect Fee: $44.75
In comparison, when annualized as APRs under a two-week term:
$100 payday loan with $15 fee= $391% APR;
$100 bounced check with $48 NSF/merchant fees = 1,251% APR;
$100 credit card balance with $26 late fee = 678% APR;
$100 utility bill with $50 late/reconnect fees = 1,304% APR.
The usage of payday loan services under a right way serves as a valuable service to the consumer. Most of the bigger financial institutions close the eyes to this underserved demand. The credit risks and reputation risks are some of the factors that these depository institutions don't offer payday loan. Payday loan lenders take great risks in doing their business. So, high pricing on the loan is needed to justify that risk which is significant, even when compared to other types of unsecured lending such as credit card. Apart from that, the processing costs for payday loan do not differ much from their higher-principal, longer-term counterparts such as auto loans and mortgages. Therefore, conventional interest rates at these lower dollar amounts and shorter terms would not be profitable. For example, a $100 one-week loan, at a 20% APR (compounded weekly) would only generate 38 cents of interest, which is a no match to the loan processing costs.
Research found that the operating costs of payday lending lie in the range of collected advance fees. After minus off the fixed operating costs and the unusually high rate of default losses payday loans don't result in extraordinary profits. Higher default rates for payday loan portfolios and these loan losses can average 15% or more of loan revenue. Underwriters of payday loans must also deal with people presenting fraudulent checks as security or making stop payments.
When the payday lending is exploited and abused, the borrower should be the one to blame, not the lender. While there are tons of information out there stating pay day loan as an expensive loan, loan-sharking or etc, however the fact is that payday loan is still a very much preferred option by borrowers compared to other loans.
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Information and resources that are all about online payday loans.
