Money Makeover Monday: Need an Umbrella Policy?

If you own a home or car, you know about insurance. Not only are those polices generally required, but they do give us peace of mind in the event something happens. But what do we do if that something happens and it’s so devastating leaving our existing policy short of coverage? Let me introduce you to an umbrella policy. An umbrella insurance policy…

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Money Makeover Monday: College Diploma Now What?

Families across America are getting ready to celebrate college graduations! Its a wonderful time to see a loved one adorned in a cap and gown. The day ends years of sacrifice and hard work. Everyone beams with pride as graduates walk across stages to receive diplomas. Graduation also brings a sense of relief from the obligation of paying for college. Whether graduating from a public or private institution, the cost of getting…

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Money Makeover Monday: Got A Budget?

Simply stated, a budget is a spending plan. A budget allows you to know how to balance your income against your expenses for a particular period of time. A monthly budget is the most common. If asked how much money you spend monthly, would you have an answer to that question? Creating a budget will give you the tools to have an answer to that question. So where do you start? 1…

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Money Makeover Monday: Don’t Spend That Refund

Millions of taxpayers expect refunds each year. Taxpayer often start making plans in anticipation of receiving that refund. Too many people are ready to spend their refunds as soon as it hits their accounts. Usually, there is some excitement around getting a refund. But let’s not forget why we get refunds. Refunds are generally received because taxes were overpaid during the previous…

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Money Makeover Monday: Credit Card Headache

Let’s talk about that holiday credit card debt. Does your statement cause you stress? Are you feeling buyer’s remorse? Did you start the year with unmanageable debt? Too many people over-extend their holiday spending then are strapped by debt for months.  The payment on some of those holiday purchases outlast the items themselves. As the year rolls on, those items will end up…

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Money Makeover Monday: Fiduciary Rule and Retirement Funds

On February 3rd, President Donald J. Trump signed an executive order delaying the fiduciary rule from going into effect on April 10th. What is the fiduciary rule? Simply put, the rule protects investor retirement savings from potential conflicts of interest with investment advisers. Former President Obama’s administration found that conflicts of interest costs retirement accounts $17 billion a year. The rule sought to level the playing…

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Money Makeover Monday: 2016 Money Habits

January is winding down and we are settling into our daily routines. But which routines from last year should stay in the past? Let’s agree to leave draining money habits in 2016. It is our hope that our personal finance posts have helped our readers make strides in better managing their money. The mistake many of us make is thinking we can’t afford to…

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Money Makeover Monday: New Year-New Money

Happy 2017!  Many of us are busy making resolutions and setting goals for ourselves and our families. Some are revisiting and dusting off old ones from previous years. Others are setting entirely new goals. We know some of the usual suspects: quality time with family, love, health, fitness, nutrition, education, career, finances, travel, creating me time, living life to the fullest or new living accommodations/arrangements. Everyone starts…

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Money Makeover Monday: Gifting Alternative

It’s that gifting time of the year!  We are buying for family, friends, teachers, colleagues, ourselves and giving to charitable organizations. It gets to be an expensive time of the year. Everywhere we go, we are enticed to spend money. Some are hitting the malls while others are shopping online.  We already heard about the millions spent between Black Friday and Cyber Monday and…

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Money Makeover Monday: Happy Holiday Budget

Autumn is here!  The leaves are changing color.  Pumpkins are everywhere.  Pumpkin-flavored eats are easy to find. The temperatures are dropping. Daylight hours are getting less.  And the Christmas decorations are out!  The usual suspect big box retailers greet customers with holiday cheer.  If you are like most, you think oh my why so early. But is it? October is the…

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Money Makeover Monday: Open Enrollment

More than shorter days and cooler temperatures,  Fall is the time when many will need to make insurance elections for the new year.  Employers will have open enrollment periods in October or November. The deadline for coverage under the Affordable Care Act (ACA) is December 15. For coverage under Medicare, the deadline is December 7.  Navigating the process is often confusing. People often end…

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Money Makeover Monday: iPhone 7 or iPhone 7 Plus

iPhone 7 and iPhone 7 Plus are both now available for purchase!  The new shiny mobile telephone has iOS 10, a new dual-core processor, more storage, upgraded camera, stereo speakers and is waterproof.  Sounds great until you see the price tag. The latest and greatest to hit the mobile phone market will run $649 for the iPhone 7 or $769 for the 7…

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