7 Reasons Why You Shouldn’t Refinance Your Mortgage

Since mortgage rates are at all-time lows, refinancing should be a no-brainer for just about everyone—or so you would think.

But not everyone has refinanced or even will.

Are there times or situations where refinancing isn’t worth doing, even to get lower rates?   There are at least a few, and here are some of them.

7 Reasons You Shouldn’t Refinance Your Mortgage

1. When you have credit problems

Continue Reading

Renters Insurance Quotes – What You Need to Look For

Renter’s insurance may be the most underestimated of all insurance policies.

Many tenants assume that they don’t need renter’s insurance because any hazards will be covered by their landlord’s insurance—after all, they’re the ones who own the property, right?

Nope.

The landlord’s insurance will cover only what the landlord owns, and that will be limited to the land and the physical structures on it.  Anything inside the building that you own will be excluded by the landlord’s insurance company.

For that reason, you need to have renter’s insurance.

What You Need to Know Before You Get Renters Insurance Quotes

What do renter’s insurance plans usually cover?

Continue Reading

What Are We Laboring For Anyway?

You work hard at your job, don’t you?  We all do.

But what exactly are you working towards?  What are we laboring for anyway?

Money.  Probably benefits.  Not really much else.

Sure, there are some folks out there that truly love their jobs.  That is awesome.  But I’m afraid that isn’t the case for a vast majority of the working class.

You hear the cliche’s all the time.  “The 9-5 grind” comes to mind.  Who wants to go somewhere and be ground all day?!?

Fill in the blank with your own cliche _________________. Continue Reading

Why Maxing Out Your Credit Cards is Bad

pile_of_credit_cards

Sometimes you just need more money—we all do sooner or later.

It could happen because you’re hit with a flood of very large and unexpected expenses.  Medical bills, legal fees and major home repairs are some of the expenses that come to mind.

It can also come as a result of an income disruption.

The loss of a job, or of certain employment related income sources, such as bonuses, overtime or commissions.  You may also decide to leave a steady job to start your own business and that will require money, not only for business investment but also for living expenses for the first few months.

At a time when credit is so available, there can be a temptation to tap credit lines to cover the losses.  You might do that with the assumption that you’ll be able to pay them all back when your expenses have passed or when your income goes back to normal levels.  But we should never assume that.

One of the problems with tapping credit to cover living expenses is that once you get comfortable doing it—or other options fail to develop—you run the risk of maxing out your credit lines.  That’s easier to do than you might think.

Once you max out your credit lines, you’ll have a new set of problems to deal with.

Here is why maxing out your credit cards is a bad idea.

Continue Reading

Term Life Insurance Versus Whole Life Insurance

Protective Hat

Life insurance, in general, is not a subject many people want to talk about.

After all, its more about death than it is about life.  But it is a necessary part of financial planning and a form of insurance many people should have!  The two main forms of life insurance are Term Life Insurance and Whole Life Insurance.

Let’s take a look at term life insurance versus whole life insurance:

Term Life Insurance

Continue Reading

The Different Stock Market Sectors – Are You Taking Advantage?

When we speak of the stock market we describe it with the term “The Stock Market”, as if it’s a single, unified market.

The reality is nothing close.

The stock market is really a group of sub-markets, many of them very different from the rest.  These sub-markets are commonly described as “sectors” and there are quite literally dozens of them.

Since sectors perform differently in various market conditions, it’s worth using them to your advantage in building your portfolio.

Common Market Sectors

Continue Reading

Getting Health Insurance for a Small Business Owner

Health insurance is one of the biggest challenges for small business owners.

It’s a problem for anyone who isn’t in a government or employer sponsored plan, but small businesses have special concerns.

For small businesses, health insurance is complicated by the fact that there may be employees.  Do you just get coverage for yourself, or do you extend that coverage to your employees?

The answer is different for different businesses, but there are ways to work through the process to get the best plan to cover your specific needs.

Use an independent insurance broker

Continue Reading

Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing