Archive for May, 2006

I was hoping to find a clip of Tommy Lee Jones telling the whacked out postal alien in Men in Black II, “NO SMOKING!”, but I found a clip just as good, and just as nasty.

There is only 1 thing worse than a non-smoker and that is a former smoker. We are rabid in our hatred of the filthy habit because we know we are 1 cigarette away from being hooked again!

Let’s sum up the cost of cigarettes:

• A pack of smokes costs about: $5.00 (I don’t know let’s go with that)
• Two packs a day is about $10.00
• Over a year that is $3650.00 a year (that’s after tax money folks)

What if you put that money on a nice vacation? How about a car? That’s a packet load of money folks! –C8j

So after attending my 20th anniversary alumni weekend, I have a new respect for having to save a pack-load of money to get your kids into University (and out the other end). You guys curious as to what my Alma Mater says your costs might be (in this year’s money too folks, remember you have got to expect an increase in cost here):

Tuition Fees?

First number is for a four month term the second set of numbers is for 8 months.

Living on Campus?

So this is for one of the Church Colleges on Campus, so that includes food too, but $7800 for 8 months. Yes living off campus is cheaper, but that has other costs like transport to take into mind as well.

Text Books?

So that is the 4 month and 8 month costs. Yes that is $1444 for books. Might want your kids to figure out where the used book store is!

You want the whole ugly thing in one table? Well check this link for the entire article, but here it is:

How much were you planning on putting in your RESPs? Still think it is silly to start saving for University when your child is still in diapers? Remember, you have 4 8 month stints to pay.

Sorry for the sticker shock folks. –C8j

Now this is what the Internet is here for. It has everything:

• Begging for money
• Insane idea
• Video
• Explosions
• Guns
• Beer Drinking

What else do you need? What does this have to do with Personal Finance? Nothing, hence the title, get it?

You almost had a clip of the British Ukele Orchestra playing “Sounds like Teen Spirit”, so don’t complain!

The only question left is, what would you pay 25 cents to see me do? (I am in trouble already)
–C8j

I guess my major question is: who buys whole life insurance and why? My view of insurance is that it is money to allow my family to pay off all debts and have money left over to be able to live should I perish. I don’t need life insurance when I am 60 years old (hopefully) because my dependents, should not be dependent any more, just my wife, and hopefully by then I am out of debt and have a nice nest egg and a pension.

Why would people buy whole life then?

Term life insurance guide 101 by Mansi gupta

Out of the various insurances existing in the market today, term life insurance is also one. A part of life insurance policy, term life insurance is deemed to be pure insurance protection as there is no build up of cash value. This feature demarcates between term life insurance that exists for specific period of years such as from 15 to 30 years of age for a particular premium and the other types of life insurance that cover the policy for a lifetime. The most common periods are 10,15,20 and 30 years. In this type, the premium paid every year remains unaltered and it is the cost of each year’s annual renewable term rates averaged over the term, with a value of money adjustment done by the insurer.

If the term life insurance policyholder dies then the benefit goes to his proposed beneficiary. The most simple and common form of term life insurance is for one year. After the expiration of the term the insurer does not need to pay out. If during the one-year term of insurance the insurer dies, the insurance company pays his death benefit to the beneficiary. But not even a single penny is paid if the policyholder dies even one day after the expiration of the term.

Due to low interest rates, term life insurance is quite popular. Term life insurance is preferred where premium buys protection only in the event of death. There are three primary concerns while purchasing a term life insurance: face amount or protection, premium to be paid i.e. the cost to the insured and the length of he coverage i.e. the term pr the time period.

There are different types of term life insurance. First is the Level Term insurance where the insurer is supposed to pay a fixed amount of premium for upto 20 years. Second is the Annual renewable term insurance that provides you with an option of renewing your policy regularly but at increasing premium rates. It is one of the simplest forms of policy with a term period of one year and is quite cost-effective too. The third kind is Decreasing Term where you can encounter a gradually diminishing death benefit. It can be beneficial for the insurer and his family when he retires from the job.

Term life insurance is the first choice of doctors, engineers and other professionals. For instance doctors who wish to set up their own clinics and do not incur good funds in first few years, prefer to take term life insurance policy. Since term life insurance can be purchased in large amounts for a significantly small initial premium, it is becoming all the more viable option. Moreover term life insurance is one of the most affordable ways to purchase a death benefit on coverage per premium per dollar basis.

However if you are willing to buy a term life insurance for a long-term risk, there are several points to be borne in mind. To begin with, if you already have a whole life policy then a term life insurance can meet your mortgage payments so that your family is not pressurized by the mortgage after you die. Also remember that in the annual renewable policy the insurance company might not renew the policy if your health starts to decline. This can be avoided by opting for a guaranteed renewable policy. But the premiums of this guaranteed policy will increase each time you renew the policy. You can also go for convertible term insurance where you convert the policy to permanent coverage.

About the Author

Mansi gupta recommends that you visit Term life insurance for more information.

I like the wording of this article, it’s strong, and it’s message is unwavering, GET OUT OF DEBT! STOP BUILDING DEBT! STOP! Get rid of credit cards, good article, I like the tempo, and I really like the message in this one. Now if I could just figure out how the heck to implement it!

Debt Consolidation Is Simple by Martin Stoleman

In our Western culture we know way too much about debt. It is much more rare to find an individual or a family that is not in debt than it is to find people who are burdened by debt. Shouldn’t it be the other way around? Shouldn’t we, living in the most well-developed society in the history of the world, no how to live in a way that keeps us free from debt? Obviously not. The good news, however, is that debt consolidation is possible and even simple to do.

Basically, the idea of debt consolidation is just what it sounds like. It is gathering all of your separate debts into one large debt and simplifying your monthly payments into one lump monthly sum. It is much easier to keep a handle on spending and on paying off debt when you have a big picture perspective that debt consolidation brings.

The first step in making debt consolidation a reality is to gather all of your financial information and your debt obligations into one place. Too often people are not even aware of how much debt they are in or of how much interest they are paying on each debt by not paying it off quickly. So gathering each debt will help you to get an accurate picture of what amount of debt consolidation you have to do.

Do not be afraid to meet with a financial advisor or planner during this time. It is wise to seek the council of professionals who are trained to help people with debt consolidation and to making financial freedom a real, tangible possibility for families no matter what their financial status is currently. Do not attempt to make it through the process of debt consolidation on your own, especially if you have little or no real idea of what you need to do.

A great way to lower the possibility of future debt or of further need for debt consolidation is to get rid of all of your credit cards except one. Consolidate your credit card debt and then get rid of them. Having multiple credit cards only gives you an excuse to spend more money that you do not really have on things that you do not really need.

Find a way to create a living budget and then stick to it. Be generous enough to not make your life miserable, but don’t be so free with your money that you continue to add to the need for debt consolidation. Learn to live within your means. Yes, you may have made some poor financial decisions in the past, but that does not have to hinder you from making better decisions for the future of your family.

Debt consolidation is a wise first step in moving toward financial freedom. Don’t wait any longer to make steps toward eliminating debt in your life.

About the Author

Martin Stoleman learned the importance of debt consolidation in his own life years ago. He is committed to seeing other individuals and families live free from the bondage of debt. See more at www.debtconsolidationtimes.info