Hi everyone! I feel like it’s been forever since I’ve posted. For those that remember, I was offered a full-time job last month and I started last week! It’s been quite the ride so far, so I figured I’d share the pros and cons (mostly pros) of being back in “the grind.”
Archives for July 2015
College is supposed to be the time of your life. And for most people, it is. However, in between socializing, studying and dating, now is really the time to start paying attention to your finances. Mistakes you make now could have a huge effect on your future. I’m going to give you two honest examples of my husband and I’s college experience regarding our finances.
Today I have a guest post from Jeanna. Jeanna is a content writer for Quotacy, an online life insurance agency for the modern consumer. When not at work, she enjoys writing for her own personal beauty, fashion and fitness lifestyle blog, volunteering for a local dog rescue, traveling and spending time with family and friends.
You’re young, healthy, and living the dream, or at least starting to build your dream. Life insurance probably isn’t as exciting to think about as finishing your favorite Netflix series or planning your next vacation, but it certainly is something you should be thinking about.
What if you were to die tomorrow, would anyone be affected by the loss of your income? Chances are the answer is “yes”. That’s one big reason to consider purchasing a life insurance policy. Here are a few more considerations:
1. People depend on you
Whether you have children or not, you probably still have people that depend on you. A spouse or significant other is a dependent. Their lives would be hugely affected if you were to die. Not only would they be dealing with grief, but financial stress because of the loss of your income. Will they be able to pay the bills, mortgage, car payment, medical bills? You don’t want to leave your loved ones with more stress than they will already be dealing with. Life insurance can offer you peace of mind knowing that your family and loved ones are taken care of.
2. Costs are lower
Because you are young and healthy, you may be considered a low-risk client for a life insurance carrier. Low-risk means better rates. Life insurance can be inexpensive when you are young, healthy and a non-smoker. The longer you wait, the more prone you will be to serious medical conditions like heart disease and diabetes, which can drive insurance premiums up.
3. You have debt and/or cosigners
A big reason why millennials need life insurance is student loan debt. If you don’t have student loans you are fortunate. Those of you that spent time earning that degree are now spending your hard earned money paying it back. If you have co-signers on your loans, they would be expected to pay the loans back if you were to pass away. You want to protect your loved ones from having to be responsible for your debt whether it’s loans, mortgage or even credit card bills.
4. Funeral expenses
Even if you aren’t married, someone will still have to cover the costs of your funeral. Funerals can cost your loved ones between $5,000 and $15,000. That’s a considerable amount of money to burden your family with. Life insurance can cover these costs and take the financial stress off your loved ones.
5. Your employer’s insurance may not be enough
That’s great that you have a job that offers you the benefit of life insurance. Having a policy through work does offer some peace of mind, but what if you were to become sick and unable to work? Your work policy is generally only effective if you are working at that company. It’s always a good idea to purchase your own policy in the event you were to become terminally ill or pass away unexpectedly. You may not be able to secure a policy if you are diagnosed with a serious medical illness. The last thing you want to do is leave your family with your medical bills on top of everything else.
There are many reasons and benefits to purchasing a life insurance policy while you are still young and healthy. Curious about how much term life insurance would cost you? Quotacy offers free and instant quotes with the freedom to window shop without giving away personal contact information. We will only need this information once you decide to apply. It doesn’t hurt to look, and term life insurance is affordable peace of mind.
Hi everyone!! I hope you all had a wonderful Fourth of July! I have to admit…this was our first Fourth of July spent away from family and it was the first holiday that I actually felt incredibly homesick. Of course, on Christmas and Thanksgiving I would have preferred to be with my family, but having the girls made it a bit easier. I’m not sure why I was so homesick over the weekend. Maybe because the Fourth is typically a “party” holiday meant to be spent with family and friends?
However, we ended up having a really great day BBQing outside in our cul de sac with our neighbors. The kids had water balloons and a slingshot so they were entertained for a good four hours. We missed the fireworks because our girls go to bed early, but we definitely heard them all night long. The ‘perks’ of living in the country!!
As I’m sure most of you read, I was offered a full-time job last week (!!). In addition to my exciting news, my husband was also offered an incredible opportunity to work for the company he worked with back when we lived in Arizona. He accepted the job yesterday and we both start in a few weeks.
While there are many, many benefits to working for yourself (like my husband and I both do/did), there are also many drawbacks. One huge one for us was not being able to purchase a home right now. We want to take advantage of low interest rates plus, if I’m being honest, we are both ready to buy. There are some huge benefits to renting – our AC broke a few weeks ago that we didn’t have to pay for, and I love love LOVE this house – but when push comes to shove, we’re not working towards anything on the house-front by renting. Now that we’ve been in Charlotte close to a year, we know that this is where we want to be for the long-haul. Our kids love it here, the weather is gorgeous and I feel very at peace and happy in this environment.
In just a few short months, John and I will begin house-hunting.