Free From Broke

A Personal Finance Blog for Regular Folks

Glen Craig

Why Do I Need Life Insurance and How Much Should I Buy?

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I think it’s safe to say most people don’t like the idea of thinking about life insurance.

It’s a reminder that, after all, we’re mortal and one day we won’t be around anymore.  In fact the subject bothers some people so much that they don’t even look into getting life insurance.

But you won’t do that, will you?

To help make getting life insurance easier for you I’m going to tackle a couple of common questions when considering life insurance — why do i need life insurance and how much should I buy?

When Most People Start Thinking About Life Insurance

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What Should You Do With a Cash Windfall?

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Quick—if you got a serious cash windfall what would you do with it?

What’s a serious cash windfall?  That number is different for everyone but I think any amount that would make a significant dent in your life (or more).  I’m thinking an amount starting at $1,000 and going up from there.

It’s fun to think about this question, not the least of which since windfalls do happen, at least from time to time.  And when they do come, it never hurts to have some ideas or a plan for what you’d do with it.  This way when the money comes you can act rationally.  A cash windfall is a great opportunity that you don’t want wasted.

The way I see it, there are three basic choices—spend it, save or invest it, or use it to pay down (or pay off) debt.

Which you choose depends on your circumstances.

Let’s take a look at three options for a cash windfall:

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Extreme Couponing: Do You Really Save or is it a Waste of Time?

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Extreme couponing has become quite the craze and there’s no denying there can be significant savings to be had; but at what cost?

This sounds like an oxymoron – but depending on the circumstances, couponing can come with a hefty price tag.  There are some great deals to be had out there and there is no debate that coupons can save you a bit of money but let’s closely examination this activity. [Read more…] about Extreme Couponing: Do You Really Save or is it a Waste of Time?

Your Guide to College Student Credit Cards and the Best Cards Out There

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Should a college student get a credit card?  That’s certainly a heated question.

One the one hand, it’s terribly easy for a young adult to get themselves into credit card debt they may regret years after they graduate. Students loans are bad enough without other debt looming over you.

On the other hand, a credit card can be a great tool to help a college student with their cash flow as well as be a means to build up their credit history early on.  Used wisely a credit card can help a student achieve an excellent credit history and score by the time they graduate.

Sure a student can use cash or a debit card to make payments.  It’s probably a good idea most of the time.  But neither of those options help a student build up a credit history.

Once a college student hits the “real world,” and maybe even before, they may find that their credit score can be used for things as diverse as getting a job, getting a cell phone, or renting an apartment.  Building up excellent credit early on is a clear incentive to have a credit card in college.

It’s Tougher for Students to Get Credit Cards These Days

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The Best Online Discount Brokerages for Cheap Trades – Investing Doesn’t Need to Be Expensive

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Do you recall the days when you needed to call up a stockbroker in order to make a stock trade?

And you needed to make the trade in a “round lot” (you had to buy 100 shares)?  Did I just date myself? 

Thanks to the internet that’s no longer the case and it’s easy for anyone to invest in stocks with an online brokerage (like, you can do it on your smartphone easy).  And not only is it easy but it won’t cost you an arm and a leg to get started.

“So which account do I open,” you ask?

There are a number of places to go these days thanks to the rise of online trading and brokerages.  I want to make sure you find one that works well for you.

I’m going to tell you about some great brokerages but I want you to first understand what you should look for before you open up an online brokerage account.

Consider the Following When Opening a Brokerage Account

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