web-only bankingMost American banks offer online banking services, but now there are banks that exist only online, and you get a good many of the services offered by traditional brick-and-mortar banks. You can scan and deposit checks and transfer funds at any time, and on any day of the year. There are savings, checking, and money market accounts available, as well as CDs, retirement accounts, educational savings plans, loans and mortgages. These "online only" banks offer free transfers, online bill pay, mobile banking and telephone banking. The question is: Are they a good place to put your money? There are advantages, and disadvantages. In the busy 21st century-world we live in, one … [Read more...]
Insurance Coverage for College Students
insurance coverage for college students Be sure to contact your insurance agents for a review of coverage for your college student. If your student goes to a college more than 100 miles away and doesn't take a car, your auto insurance premiums can drop significantly (20% on average), and he or she will still have coverage when home for the summer or holiday vacations. If your child takes a car to school, your insurance costs may rise or fall depending on the campus location. If you've recently helped a college student pack-up for school, you know that just about half of their total possessions go with them - possessions that can be very expensive to replace. Check to see that … [Read more...]
Why Long-Term Care Is Important
Even a well-developed investment plan can fail for reasons that have nothing to do with investments. It could fail because the family breadwinner dies prematurely and doesn't have enough life insurance to cover her loved ones. Or it could fail because of an auto accident that results in a large judgment, and there's insufficient liability insurance in the form of an umbrella policy. This is why it's critical to integrate an investment plan into an overall estate, tax, and risk management (insurance) plan. One area of concern that is all-too-often overlooked is the need for long-term care insurance (LTCI). According to a survey by Sun Life Financial (SLF), there's a major disconnect … [Read more...]
Eight Commandments of Building a Strong Financial Foundation
commandments financial foundation 1. Compare your monthly income versus your monthly expenses. Establishing a spending plan can help you get a hold of your financial situation. Live within your means and do not spend more than you make! 2. Pay off credit card balances each month. If you have current credit card debt, attack it each month by paying more than the minimum payment and go for the smallest balance first. When the first card is paid, add that amount to the payments on the second card. Repeat for the next card, and keep going until you've paid them all. 3. Create a "safe and sound" fund. Build a cash reserve of 6 months (or more) of your living expenses. It may be a … [Read more...]
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