How to Save Money on Car Insurance

 (Photo credit: Wikipedia)Car insurance can be a really expensive part of our lives. We have to have insurance for our life, car, boat, disability and home. Insurance companies must compete with each other so there are ways to get good deals . One of the ways is discounts.

If you have noticed, there seems to be a car insurance office on almost every corner. With all this competition, each office knows that to get your business they have to give you a good price and good service. Car insurance has it's share good discounts. But if your not aware of them you'll miss out on saving money.

Here are a few of the discounts available to you:

Vehicle Equipment

Air Bag

You could save up to 25% for driver side air bags and 40% for full front seat air bags. These discounts apply to the medical payments or pip portion of your car insurance premium.

Anti-lock Brake System

Does your car have a factory installed anti-lock brake system? You could receive a 5% discount on the collision portion of the premium.

Anti-theft System

Cars with a built in anti-theft system could earn a discount of up to 25% on the comprehensive portion of your premium.

Daytime Running Lights

Vehicles equipped with daylight running lights as standard equipment could earn you a 3% discount on certain car insurance coverages.

Driving History & Habits

Five Year Accident Free Good Driver

If your driving record is clear for five years you may save up to 26% on coverage.

Plus if your insurance company carries accident forgiveness, your rates won't go up.

Seat Belt Use

If you and your passengers always wear seat belts you could receive up to 15% off the medical or personal injury protection portion of your premium

Drivers Education

Defensive Driving Discounts

If you have completed a defensive driver education course you may be eligible for some discounts depending on the state where you live.

Driver's Education

If your a young driver and you have completed a drivers education course you may earn a discount on most coverages.

Good Student

Full time students with good grades can receive up to a 15% discount on their coverage.

Drivers Affiliation

Emergency Deployment

As a member of the armed forces fighting in wars overseas you are eligible for discounts of up to 25%.

Military

If your in the military on active duty, retired from the military, or a member of the National Guard or Reserves, you may be eligible of up to 15% of your premium.

Partnering Organizations

Some insurance companies have partnered up with various clubs and organizations to give discounts on your auto insurance premium.

Senior Level Federal Employees

If you have a senior-level job in the government, some companies give up to 8% discounts on your premium.

Customer Loyalty

Multi-Car

There is a discount if you insure more than one car on your policy and it may be up to a 25% discount.

Multi Policy/ Multi Line Discount

When you insure your car and also have your homeowners, renters, condo or mobile home policy with your car insurer you could get a discount.

Renewal Discount

For having multi year renewal with your insurer you can receive a loyalty discount.

With increasing demands on our incomes we must find ways to save some money. Make sure you have all the discounts coming to you that you qualify for. Today it's so easy to buy car insurance, there is an auto insurance store on every corner. With all the competition and discounts, the consumer wins. Why can't health insurance be bought so easily.?

With a little phone work and visiting your local car insurance office you will get a very satisfying deal. Go Here

How Reverse Mortgage Calculator Makes Your Retirement Life Easy

Mortgage (Photo credit: 401(K) 2012)

A lot of homeowners have opted already for reverse mortgage and there are many who are following the same direction. If you belong to the group of those who face immense problems while they return the existing home loan then, I must tell you, that reverse mortgage is the best option. It is usually given to senior citizens who are above 62 years old for converting one of the home equity’s part into cash. This step not only helps in improving living standard of the senior citizens after their retirement but also makes their life tension free. Once you convert a part of your equity into cash there is no need of any further payments to repay the mortgage loan. In this case, a reverse mortgage calculator can even give you a brief idea about the reverse loan.

With an options like buy to let mortgages, making use of a reverse mortgage calculator is also one of the best options of getting an idea of the amount that one may get from their reverse mortgage. It is an estimate and should not be mistaken with the actual amount. In order to use this calculator, seniors need to input their home value, age, mortgage balance(existing one) and the interest rate(estimated).The calculator uses all the information for determining whether any individual can be considered for a loan and the amount he will receive.

Make Use Of A Reverse Mortgage Calculator For Determining The Right Time For A Loan

In order to qualify for any reverse loan, seniors must have a home or any mortgage balance. Many seniors already know about this but there are still few who are not aware of the exact equity they would require to get a loan. This is where a reverse mortgage calculator comes to their rescue. These calculators make use of every information related to the senior and calculate the amount of equity that one needs to pay. Once the equity is already known, more research can be made using the calculator and one can even calculate their individual payouts.

In order to find the impact of age as well as equity on their payout, this calculator can be used for seeing that what amount of money can be received if the seniors wait for a few more years and then apply for this particular loan. There is even a chance for prospective borrowers to explore other options if they calculate potential payout by considering a high property value, small mortgage balance and various interest rates. This even helps the borrowers to finally reach a decision that whether they consider a particular time to the best for taking a loan or they prefer to wait.

Reverse mortgage calculators are considered great tools that can be used by potential borrowers before they apply for a loan. The different options that are available to a consumer before getting a loan makes them more confident and they come to know what they keep at stake for getting their respective loans. Moreover these calculators make the consumers realize how they may benefit from a reverse mortgage loan. After they start using these calculators, borrowers seem to have much better understanding about reverse loans and the possible eligibility's.

The best part about a reverse mortgage calculator is that the tool is available for free online. They are basically designed for educating seniors about reverse loans so that they can opt for them confidently. Though these calculators cannot provide accurate results but they prove to be quite helpful for seniors in determining the correct time for a reverse loan. Their retirement life becomes completely hassle free with no worries about money.

Author bio:

Jonny Pean is a financial consultant. He manages to take out time in writing blogs covering topics like mortgages, debt, saving money and recommends to use mortgage calculator from emortgagecalculator.co.uk.

Related articles

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Tax Lawyers Are Going To Be Very Busy

The United States Tax Court Building, in Washington, D.C., headquarters of the United States Tax Court. (Photo credit: Wikipedia)

The recent news concerning the ruling on health-care legislation, handed down from the Supreme Court, has made some angry and some glad. The Congress of the United States passed a law saying that all citizens are mandated to carry health insurance and if you did not carry insurance you would be fined. The case went to the Court and they determined that the penalty was just a tax and would be allowed under the U.S. Constitution.

In life they say there are only two certainties, death and taxes, with the recent ruling government will be wanting more of your tax dollars. As long as governments want a piece of your income, tax experts will be needed for legal advice on tax implications for disputes concerning property, estates, trusts, and finances. The kind of lawyer you need for tax disputes is one with a llm in tax law.

Tax law is its own distinct and separate legal area but it is also a companion legal area. By a companion legal area I mean, knowledge of tax law is necessary if you practice other types of law like business & corporate law, estate planning, and probate law. Tax law can also be integral to other areas of law like family law, bankruptcy law, guardianship law, real estate law, and securities law. Having a knowledge of the intricacy of tax laws can be an advantage. Without this kind of knowledge, the client will be missing out on vital knowledge that could make the difference.

Tax Law is a companion to other types of law but it is also a distinct legal area all to itself. A person that needs help can seek legal counsel concerning specific tax situations. Having a knowledge of  U.S. tax laws is only part of the solution. Each state also has their own specific laws and practices concerning tax law and that can be a challenge that a tax lawyer can help you with. 

Tax law has become such a specialized area of the law that many law schools have offered separate legal degrees above and beyond the basic law degree. This special degree is called a Master of Laws (LL.M.) in taxation. Many law schools have started llm tax programs in response to the rise in the specialty of a law practice and its higher knowledge requirements.

Tax law is even thought by the court system to be so highly specialized that there is a specific court that only hears tax cases. The U.S. Tax Court only hears cases that concern tax law disputes. Additionally, there is the U.S. Bankruptcy Courts and the Court of Federal Claims and all have jurisdiction in hearing federal tax cases. All this is guided by a separate body of laws which is the Internal Revenue Code. Add to that Treasury Regulations, Revenue Rulings, Revenue Procedures, Technical Advice Memoranda, and Private Letter Rulings.

Having to face the overwhelming tax laws we have in this country without a knowledgeable tax lawyer would be foolish. If you have a tax question or tax problem it's best to seek out a tax lawyer.

Understanding the July 2012 Credit Card Reform in Five Simple Steps

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This is a guest post by financial writer Paul Groberts. His post is about big changes going on with financial reform in Australia. 

We’re living in a day and age in which an increasing number of consumers are choosing to liquidate their debt and do away with their credit cards. However, recent developments in local credit card policies and regulations are heralding a new age in the use of plastic. Authorities have had the credit card reform in the making for quite some time and it eventually came into force on July 1, 2012. Official information on the precise prescriptions and implications on the reform can be easily accessed online, at BankingReforms.gov.au. However, no matter how clear-cut and straightforward it all may appear there, further explanations are always in order and welcome, for the day-to-day credit card user. If you want to learn what this recent development entails and how it will affect you, the regular holder of a banking credit card, read on, to understand the reform in three simple points.

First off, the much-touted reform is essentially geared at improving handling conditions and transparency on the part of the end-user. This means that the key fact sheet you receive when you sign up for a new credit card will have to use a standard format, making essential information easier to follow, grasp and understand. No more fine-print, no more tricky wording, in a nutshell.

Secondly, there are major changes afoot with respect to going over your credit card limit. Specifically, the lending institution will have to receive your expressed agreement on being charged a fee for over-limit services. What is more, the bank or financial service provider will be mandated by law from now on to inform you when you surpass your credit limit. At that point, you will be presented with two options: either continue to use the card or pay off a part of the debt first.

The third point is perhaps the most hotly debated, since it refers to direct repayments. According to the new rules, these will be directed to the most expensive part of your credit card debt. The Government website states that this will make it easier for users to reduce their debt and it will allow them to do so at a speedier pace. It’s worth noting that this particular rule strictly applies to new users, who have had their cards issued post-July 1. Check the issuing date on your card, to make sure whether or not this applies to you as well.

Fourth on the list, control over the credit limit has now been entirely turned over to the user. You can decide for yourself what that limit is and then inform the bank of it. We searched for various types of credit cards online, in order to understand this change and ran an online comparison on those types at BankWest.com.au (http://www.bankwest.com.au/personal/credit-cards/compare-credit-cards). What has changed since July 1, is that providers now have to inform you of the exact workings of their interest-free initial offer, making the whole process of signing up for a credit card much more transparent and unpleasant surprise-free down the line.

Finally, one of the most welcome changes in credit card regulations refer to one’s monthly statements. From now on, these statements will include the period of time required to repay your current debt, if you only continue to make minimum payments. The main consequence of this change is that you’ll have an easier time planning your debt reduction, as well as balancing the rest of your expenses.

All in all, credit card ownership seems to have gotten a whole lot more user-friendly and easier to handle. As with anything, transparency and clarity are surefire ways to improve on an existing situation. Besides, since credit is one of the fueling forces of any economy, this might just spell better times for Australia’s personal finance sector.

Please Vote For Me In The Personal Finance Olympics!

The folks over at GoBankingRates.com are running a contest over the next few weeks that they're calling the Personal Finance Olympics. The winner of the contest will win a $1000 Amex gift card at the Financial Blogger Conference in September, and I'd love your help in winning. You can vote for it here by just clicking on the voting button on the respective pages:

• 6 Cheap Places To Retire Abroad (50 Plus Finance)

Thanks for your help, I appreciate it!

What Can Credit Repair Services Do For You?

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In today's world your credit report is so integral to your financial life. It used to be that your credit report was only used to see if you credit worthy to take on new debt. Today, your credit report is reviewed when you sign up for car insurance. If your credit report is bad you will definitely pay a higher rate on your car insurance. When you sign a lease for a new apartment or start a new cell phone plan, your credit is checked and if it is bad you will be denied your apartment lease or new cell phone plan.

If your credit is bad, is it possible for someone do credit repair on your report? There are many companies who can help you fix your credit report and improve it for you. 

Most people think that magically you can just remove the negative items. No one can erase negative information if it’s accurate. Only incorrect information can be removed. Accurate information stays on your record for 7 years from the time it’s reported (10 years for bankruptcy). Even information about bills you fell behind on but now are paid will remain on your report for these time periods.

Remember only incorrect entries in your credit report can be removed. If you have legitimate negative marks on your report, the only thing that will remove them is settling with those creditors. After that's done the settlement will be reflected on your report. In time your credit score will climb to a more appropriate level.

By law you have the right to dispute inaccurate, misleading, biased, incomplete, unverifiable, and questionable listings on your credit report. With a little time and energy you can work on getting these blemishes off your credit report. If it is too time consuming or confusing for you to do the credit repair yourself there are good companies that can do it for you. 

The Bucket Approach for Retirement Income

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For many people the worst part of investing is short term volatility of the market. Going through that stomach turning rollercoaster can keep you up at night. You worry if you are going to have enough money to cover daily expenses. Staying invested during these trying times is very hard to do if you are worried about your life savings going down everyday. 

The solution is to find a way to keep you afloat during these frightful time. You need to find a way to insulate yourself from the storm until your through it. The "Bucket Approach" is a possible way to help you through these tough times.

Harold Evensky, President of Evensky & Katz Wealth Management, has come up with the "Bucket Approach" as a strategy for solving this problem. Back in the eighties Harold developed this approach which includes his five-year mantra. It simply means do not invest money you are going to use within 5 years.

His plan says to carve out a lump sum that you will be needing, short term. These needs can be a second home you may want to purchase in 3 years. You take that chunk of money and put it in short-term bonds or cash. Also, that goes for your retirement money that you need to live on for the next five years. But in this instance, you would be losing to much in potential growth so through experience Harold says to only take out two years worth of living expenses. The rest of your retirement money stays in your total return portfolio.

What you do is take that cash and set it up to pay yourself a check once a month like a payroll check. The market can be volatile, but you know where your grocery money is coming from, so you are not going to be panicked when the market is going down. As you manage your investment portfolio you need to rebalance as necessary.

This helps you be much more cost and tax efficient in managing that portfolio. You are not going to have to sell at the wrong time. You can sleep through volatile times. Your worry level should be way down during the tough times. Your portfolio may be down but you have money to live on for two years. This relieves any need to sell off your investments at the wrong time.

How Many Buckets Do You Need?

The amount of buckets you need can be as many goals you need to finance within a five year period. But for the small investor two buckets will do. One bucket with two years of expenses and the other holding your retirement portfolio. The most important thing is you have your short term cash in a bucket available to spend. Having other buckets for a trip or college expense, or a car is also good to do if you have the funds available. There is no reasonable limit to how many buckets you can have. 

The problem with multiple buckets is there more to keep track of but you are in a more organized position. Plus you are able to borrow and move around cash between buckets as you see fit. This system gives more control over your finances

My Take.

I believe this plan can work and solve the number one problem of retirement investors which is selling at the low. It would of worked in the last deep decline. You would of been able to hold on till the market began to rise again. I can imagine the freedom having two years of expenses put aside. Not having to worry about paying the bills and knowing you are able to ride out the storm. What's your take?

Technology Invades the World of Finance

In the world of finance, there have been a number of innovations that have changed the way people conduct their business. Thanks to technology, there have been a number of different advances in the finance arena. Here are a few examples of ways that technology has changed finance:

Smartphone Apps

Smartphone use has been growing rapidly in the last few years, with millions of people using these devices. With so many smart phones, there are also millions of apps being made. Many of these apps make it easy to manage your finances. Banks like Discover Bank offer apps so that you can check your account balances, transfer money, or make payments from your phone. Investment companies offer apps so that you can check your trades while on-the-go.

Investing Software

If you are an investor, there are a number of software programs out there that can help you do your job easier. For example, there are programs out there that can actually automate your trading based on algorithms. With these programs, you simply upload them to your trading platform, and then they start trading your account for you. This makes it possible for you to go do something else while the software is trading your account for you.

Peer to Peer Lending

In the past, when you needed to borrow money, about the only option available to you was to go to a bank and ask for a loan. In today's world, you can borrow money from other a regular people who have a little bit extra to loan. Thanks to peer-to-peer lending networks, you can get connected with people who want to lend. The peer-to-peer lending site handles the details like transferring the money and checking the credit of the borrowers. This has made it possible for many people to borrow money when they need it.

Virtual Wallet

Virtual wallets have made it possible to make payments with your smartphone. Using near-field communication technology, you only have to get your phone close to a scanner and the payment is charged to your account. This makes it easier and faster to make a payment.

Technology has completely changed the way that people handle their finances. In the future, there will be many more technological advancements that have an impact on the area of finance. By taking advantage of some of these advancements, you can save time, protect your money, and get some more peace of mind in the process.

529 Plans Diversifying with ETFs

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Diversification is the backbone to any investment plan. 529 plans are going to give investors more diversification by adding ETFs. They need to attract more investors and give them a larger choice of investments to purchase for their college savings plan. 

The 529 savings plans are a tax-advantage method for saving toward future college expenses. Parents can build a college savings fund that pays for a person’s room, board, mandatory fees, books, computer and tuition. Contributions in the 529 savings plan are not subject to federal tax as long as the money is used for college expenses. Today, mutual funds make up the largest share of the college-savings 529 industry.

Last year, on average, 529 plans lost almost 1% while the S & P 500 stock index returned about 2%. This caused a pull back in contributions. This addition of ETFs will not only hopefully attract more investors but also will give savers a more positive growth. 

Recently, Nebraska introduced four ETFs in three of its 529 plans. One of New York's plans recently added six ETFs, while Nevada's Upromise 529 moved almost exclusively to ETFs and away from mutual funds, which still dominate the college-savings industry. The addition of ETFs by 529 plans will give investors choices that will satisfy views that 529 investment choices are to risky.

What do the critics say?

The positive news is that they like the lower expenses ETFs offer. 529 plans with ETFs have an average expense of 0.61%, compared to the industry average of 1.12%. They claim 529 plan investment managers are adding ETFs in an attempt to make quick and easy changes to portfolio allocations at a fraction of the cost. ETF products can be traded throughout the trading day while mutual funds can only be reconstituted at the end of the day. 

Don't worry, the addition of ETFs are not changing the rules, you won't be allowed to buy and sell your investments in your 529 plan. 

These changes will attract more money in to the plans. You will have more choices in your investments. Diversification will benefit your 529 plans overall growth and help to minimize any market fluctuations. 

Related articles

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• 529 Plans Use For K-12 Education Proposed (whatisa529plan.com)
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• 5 Top Rated 529 College Savings Plans (whatisa529plan.com)

Finance For a Great Retirement!

(Photo credit: Wikipedia)Although there can be no mandatory retirement age and people nowadays are working well into their seventies, the time when one is in one’s fifties is a good time to start planning for retirement. And 65 (or in some places, 67) is, after all, the age at which people become eligible for retirement benefits such as pensions. This article will be primarily about equity release schemes and the best ones there are out there.

The precise definition of an equity release scheme is when somebody uses the value of their residence to get a lump sum of money, thus providing themselves with a steady source of income, while retaining the use and possession of it. When the beneficiary dies—or occasionally, before then—they must repay that amount; and any pre- existing mortgage must also be paid off.

There are five basic types of equity release schemes:

(1) Home income - a form of lifetime mortgage (see number 4) whereby the capital can be used to purchase annuities which the lender himself may provide.

(2) Home reversion - where the homeowner sells his house to a reversion company, in whole or in part, so that the latter owns that much thereof, but the resident still retains the right to live there and (depending on his choice) receives a lump sum and/ or a regular income.

(3) Interest only - the borrower makes interest payments for as long as he remains on the property, with the loan itself being repaid upon the borrower’s death.

(4) Lifetime mortgage - whereby the homeowner takes out a mortgage loan on the property, retaining ownership thereof for as long as he remains living there, repaying the loan and compound interest that is added to it throughout its term by selling the house and moving into a retirement home.

(5) Shared appreciation mortgage – again, the homeowner retains the right to live in the house; he takes out a capital loan and in turn, owes the lender any increase in the value of the property.

Equity release has a number of advantages. The most important, of course, is that it provides the borrower with a steady source of income for the rest of their life. But there are other benefits as well. It can reduce the amount of inheritance tax on the property. Decline in interest rates are no problem, as the mortgage can easily be refinanced with another provider at a lower price. Likewise with downturns in the housing market: Here the borrower is protected by the no negative equity guarantee, which ensures that the total amount of the amount borrowed and the interest accumulated on it cannot exceed the house’s future value when it is sold as outlined in the terms of the scheme.

It is quite easy to take part in an equity release plan. An individual’s eligibility depends largely on the mortgage provider; however, in most cases the minimum age is 55 (but see under reverse mortgage, below) and the person must be retired, since, as mentioned above, the purpose of the scheme is to allow retirement itself to provide a source of income. Those who prefer to release income, or to take out a home reversion loan (described above), generally have to be at least 65. The property must be owned by the applicant and in good condition. It should also be on either long leasehold or freehold.

Most schemes operated under the term “equity release,” including those described below, are available only in the United Kingdom. In the United States, a form of equity release called reverse mortgage is provided to those 62 and over under an HUD-administered federal program.

Some of the best equity release schemes are:

• Equity Release—variable type, no early repayment charges accrued on the loan
• Aviva Lifestyle flexible option—fixed
• Liverpool Victoria flexible lifetime mortgage—fixed

In Stafford, England, Lyndon and June Watts, age 71 and 74 have enjoyed a happy elderly life due to equity release. They used the money to make improvements to their house, which is also worth more now than when they first took out the loan, go for holiday and spend money on their grandchildren.

Author Bio - Jonny Webber lives in Manchester, where he works as a free lance writer creating content about Health, Fitness and Finance. To find out more about Equity release visit www.equityrelease123.co.uk Follow him on twitter by clicking @Jonnywriter

Make The Most of your Car Insurance

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Scouting for the best car insurance can be tiring and time consuming. But, purchasing auto insurance is not a herculean task! All it needs is some research and a little planning on the type of coverage you will require to keep you and your family safe. However, to choose the best insurance you need to understand the types of insurance and how to make the best use of it.

Types of Car Insurance

The UK government introduced a law in 1930 which stipulated that every vehicle owner should have a third party personal injury insurance; and it is mandatory to either have security, be insured or should make a deposit of a specified amount as per Road Traffic Act (RTA) against the liability of injury caused or property damaged by the vehicle.

Just like any other insurance, car insurance has also been constructed to meet the requirements of the policy holder.

While some of the below-mentioned insurance policies can be chosen as per individual requirements, some are compulsory in accordance with the law.

RTA only Insurance: has very low coverage for the damage done to the third party.
Third Party only Insurance: this is the most commonly available; and considered a basic, legally required car insurance.
Third Party, fire and theft insurance: is the most purchased car insurance that covers all third party liabilities and, unlike the preceding insurances, it provides coverage to the vehicle if damaged.
Fully Comprehensive Insurance: It is the most expensive type of insurance and is a hybrid of all of the three above-mentioned insurances.

How to make the best use of your Car Insurance

You might have chosen car insurance that suits your requirements, however, it is most useful if you are able to utilise its full potential. And if you are a new buyer or even an experienced one, you might want to consider these criteria for your car insurance:

1. Do analysis on the organisation you are going to be associated with and make a comparison of the deals offered with others on the market. Give importance to the premium paid and the level of coverage offered.
2. Opt for the firm that has a good reputation and have already established themselves on the market; this is an easy way to judge if the company is genuine or not.
3. Do not buy add-ons that you don’t need! You need to focus on the essential parts of the car and not the luxuries. Add-ons are not reimbursed or replaced in case of accidents or theft (unless you have an additional insurance policy for it)
4. Maintain a good credit score if you want to qualify for lower interest rates. Although, Car loans UK can give you good deals on loans for your car irrespective of the credit score.
5. Do research while renewing your policy. Save time and money with accurate policy information and ask your insurance company for new deals that could benefit you.
6. Reduce Premium by driving less every year. If you prove to your insurance company that you drive less, you will get reduction on premium
7. Raise your deductible and you can get lower insurance premiums. And you can also create a separate fund in case of an emergency or accident.
8. Enrolment in defensive driving course will make you eligible for special discounts after completion by insurance companies. This is followed by most of them so make the best use of it.

Author Bio: Hi this is John. My passion is to write on Finance and Travel Blogs you can reach me @finance port.

6 Places To Retire Abroad and Save Money

When I retire I see myself with a beautiful house on the lake with my fishing boat catching a few fish and sipping on a cup of coffee. But for some, that is to laid back and not very exciting. To spice up your retirement have you ever considered retiring abroad?

If you are thinking of going overseas you better do a lot of research and maybe even take a few vacations there to see if it meets all your needs. I did some research in the United Nations World Tourism Organization 2012 publication and found the top six destinations. 

If you are a bit of an adventurer you may find overseas living intriguing. As you do your research you will find many web sites, media outlets, authors, and bloggers who can help you find what's best at a reasonable price.

France.

Here you will find the food and culture center of the world. France was rated as superior in the 2010 International Quality of Life Index. Their health care is also rated as very good. On the downside they do have high taxes, a difficult bureaucracy, and high prices. So it's better to find yourself a place outside the larger cities.

Turkey.

Though on the edge of the European landscape, they consider themselves more Western than Middle Eastern country. Soon to become part of the European Union they are one of the top growing economies in the region. You can find retirement destinations in the mountains or at the seashore. Property in turkey is well suited for retirement or vacation living.

Mexico.

Being the closest destination to the U.S. and already popular with retirees for its money saving standard of living, Mexico is a great choice. In Mexico, you will find modern and up to date health care near big cities. Many retirement and vacation communities have been providing a relaxing life under a warm sun and tropical weather for many years. 

Panama.

Another small country that wants to attract the foreign investor and retiree. The currency is tied to the U.S. dollar, there are retiree discounts, and favorable tax treatment on income and new homes. Mostly a rural spot with no major metropolitan areas, so traveling for major health care may be necessary. The weather is also warn and tropical.

Costa Rica.

A small country in Central America that is already the home to many people that have chosen the laid back life style. It has a good economy and a stable government that encourages the foreign dollar to its shores. Retirement income and real estate profits are untaxed, combine that with lush beaches and country side living, you have a perfect destination.

Italy.

Who could argue about Italy being a great place to retire to. You have the great food, culture, and the Mediterranean weather is very attractive to visitors. The best bargains are in the southern areas and again staying in the country side is going to save you a lot of money. Like most metro areas you will be paying a premium for city life.

This is only a short list of all the possible destinations to retire at. You need to consider other obstacles to living abroad like language, government stability, and living standards. These and many other things need to be considered for such a big move. 

Living overseas is going to give you the adventure of your life. It takes a certain mindset to leave you home country and live abroad. Maybe after a while you may become homesick. There is much to consider in living overseas. 

Do your research and take a vacation to your destination and see if it is all you thought it would be. Good Luck.

How Business Owners Can Save Money on Credit Card Processing

(Photo credit: Wikipedia)Business owners often face a double-edged sword when they decide to accept credit card payments. It's simply good business to offer the ability to use a credit card and it helps attract more customers and make more sales, but on the flip side, credit card processing fees can be very expensive and will whittle away your profit margin.

Before you decide on a credit card processing company, there are a few things to do to make sure that you are saving the most money possible.

1. Comparison Shop. There are literally thousands of credit card processing companies and no two are alike. You'll need to comparison shop among several different types of companies and see which one will offer you the best deal. Don't forget to check with your local bank to see if they offer this ability, you may end up getting a better deal.

2. Get Help With Your Credit. If your personal credit is bad, this will affect your ability to get a credit card processing account and will raise the fees you'll need to pay for processing each card. Get a free copy of your credit report and make sure there are no errors or collections on there. If there are, get help with your credit to get these items removed. Give it about 6 months after fixing the issues on your report before you apply for a new processing account.

3. Try Third-Party Alternatives. In some cases, a third party processor, such as PayPal, may be your best alternative, especially if you don't expect to do a high volume of credit card sales. Again, you'll need to comparison shop with several different companies to ensure that you are getting the best deal out there.

4. Choose the Cards You Want to Accept Wisely. MasterCard and Visa are typically the most economical when it comes to processing fees. American Express on the other hand can be very expensive to accept. Keep this in mind when you decide which cards you want to accept in your store.

These steps can help you save a significant amount of money for processing each purchase. Remember, your personal credit will affect your business credit, especially if you are just starting out. Now is the time to get help with your credit so that it doesn't keep you from living your dream of starting your own company.

Preparation Is Important Before Buying That New Car

 (Photo credit: Wikipedia)Life is not a rehearsal and you need to live it fully and in the best way possible. Everything in this life requires proper planning so you can avoid disappointments. To have your own car is not easy and therefore, you need to be well prepared, financially. 

The purchase can be expensive depending on the type of car you want to purchase. It's up to you to do a lot of shopping around and diligent research on the Internet to make sure you are getting the best deal when going to the dealer.

Buying a car is one thing and maintaining that car is another thing. Whether it’s a new car or a second hand car the maintenance cost must be incurred in both cases. Most people have come to like the minivan that is known as the Nissan Quest. 

Even though you have purchased a new car you are still going to incur some repair costs after the initial warranty is over. It is therefore, advisable to purchase a used car which is cheaper at first than a new car but does still have similar maintenance costs.. 

This can be a good option especially when you have a vehicle that was well maintained by the person who possessed it before. The only measure that you ought to take is to be sure that you use a honest dealer who can guarantee you the integrity of the used car you are about to purchase. 

If you want to purchase a previously owned car, which is still in a good condition, then find the best used car dealer known for their honesty. It is important to consider the price you pay for the vehicle is in direct proportion to the condition of that vehicle both in appearance and performance. Finding a excellent condition used car is possible and worth the effort.

Save Money and Enjoy Better Coffee With an Aeropress

Brewing coffee with aeropress (Photo credit: Wikipedia)

I have always enjoyed my morning cup of coffee. Even in college I never missed having a few cups a day. Back then my only choices were Dunkin Donuts or coffee at the quickie mart. Now the choices abound. Starbucks has opened the flood gates on coffee enjoyment. No longer are we stuck with a cream and sugar coffee, today the choices and flavors are endless. They are also expensive.

To save a little money I went the way of the single serve coffee brewer it's worked very well. I probably save $15-$20 a week making coffee at home. I have been completely satisfied with this for several years. But I have been exploring ways to do better. 

My exploration has brought me to a device called an Aeropress. Which is basically a French Press, only better. This little machine has given me an even better cup of coffee than my single serve brewer. Like a single serve machine it makes only one cup at a time. This is the theory for brewing the freshest, best tasting cup of coffee you ever had.

I started with the "AeroPress Coffee and Espresso Maker" I purchased from Amazon. It comes with the coffee press, 700 filters, a bag to carry the stuff in, and all the tools to brew coffee. The 700 filters should allow you to make 700 cups of coffee, what a deal! 

Here's How To Use The Aeropress:

1. Place a filter disk in the cap and attach the cap to the chamber. Place the chamber, with cap, on top of your favorite coffee mug 
2. Place your ground coffee into the chamber. Use one included scoop per cup of espresso or per cup of coffee wanted, to a maximum of four scoops.
3. Now heat the water. You can actually heat it in the plunger, since it is hollow, or heat it any other way desired. The manufacturer recommends 165 - 175 degrees F. (75 - 80 C). First, wet the grounds with the water slowly, then add the rest of the water. There are markings on the chamber as well as the plunger for how much water to use. Stir gently for about ten seconds.
4. Wet the rubber seal on the plunger, insert it into the chamber and press slowly, it should take about 20 seconds for all the water to pass through the grounds, depending on how much you are making. 

The results of this work is a cup of "Expresso Strength" coffee. This is arguable, but the fact is that you have a very smooth, concentrated form of coffee. If you are after a more "classic" cup of coffee, you can add hot water to the output of the Aeropress, diluting it with 2 to 3 times the amount of hot water to espresso.

Link to World Aeropress Championship 2012 Recipe Competition

Now the coffee is ready to drink so flavor it as you usually do. I have found that sometimes I can't drink the amount of coffee made so I have stored it in the fridge for later. It still tastes as good but the aroma is substantially lost. Many people do not mind this so they make up an extra batch and keep it in the fridge and report it is still good tasting weeks later.

I believe that good coffee is as important as good personal finance. Try the Aeropress for a great cup of coffee.

AeroPress Coffee and Espresso Maker with zippered nylon tote bag and an Extra 350 Micro Filters (700 Total)

Helping Your Grandchildren with College Expenses

Although most of us don’t have enough financial freedom to completely finance the college education of our grandchildren, there are still ways we can invest some money for their future schooling.

If you are interested in setting aside money for your grandchildren’s education, be careful to consider all the options available to you (savings and investment plans and tax-free gifting). One plan may be perfect for one person but not the best choice for you, so make sure you understand how every option works before making any decisions.

There are three options in particular that many grandparents find beneficial for their savings goals; 529 plans, savings bonds and tax-free monetary gifts.

529 Plans

With a 529, grandparents can put away money for their grandchildren’s education through either a prepaid plan or a savings plan. Prepaid plans allow you to purchase tuition credits. These credits match today’s inflation rates, so their performance is based on how much the cost of tuition rises by the time your grandchild goes to college. Not all states offer the prepaid plan. With a savings plan, all growth is based on the performance of (usually) mutual fund investments. As the beneficiary gets older, the investments in a savings plan become more conservative, just like a retirement savings account.

Distributions from 529 plans to pay for qualified college expenses are exempt from the federal income tax. Investors who contribute to a 529 plan in their state of residence also often receive state tax advantages, exemption from state financial aid calculations and other benefits. Donors maintain control of the account, and most plans allow benefactors to reclaim the funds for any reason, at any time with no penalties. However, if a non-qualified withdrawal is made, the earnings will be subjected to an income tax and an additional 10% penalty tax.

Savings Bonds

Government savings bonds can be given to your grandchildren as birthday or Christmas gifts when they are very young. This gives the bonds plenty of time to mature before they are cashed in for college. The most common type of bond purchased to fund education is the T-note. It earns a fixed rate of interest every six months and is issued in terms of two, three, five, seven and 10 years. This means that you can’t cash in your purchased bonds until they have reach those terms, but the longer you allow them to sit, the more interest they will earn. The minimum purchase amount is $100.The income earned from interest is subject to a federal income tax but exempt from any state or local income taxes.

Tax-Free Monetary Gifts

If you are interested in giving a larger sum of money to a grandchild who will be attending college very soon, you may want to choose the tax-free monetary gift route. Most monetary gifts are subject to a tax, but grandparents can avoid that tax by giving their gift directly to the educational institution their grandchild plans on going to. Donors must make sure that the beneficiary is serious about graduating from that school, though, because there aren’t any hard rules that require schools to return the money if the child drops out. However, if the student has serious plans to graduate, a tax-free gift is the best way to transfer wealth and know that it will be used for its intended purpose.

For more information on college savings plans for your grandchildren, contact your local licensed financial advisor.

Nadia Jones is an education blogger for onlinecollege.org. She enjoys writing on topics of education reform, education news and online learning platforms. Outside of the blogging world, Nadia volunteers her time at an after school program for a local middle school and plays pitcher for a local club softball team. She welcomes your comments and questions at nadia.jones5@gmail.com.

• The Best Way to Save for College: A Complete Guide to 529 Plans 2011-12 - Book Review

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• What College Expenses Do 529 Plans Cover and Not Cover?

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• Roth IRA vs. 529 plan - Which is Better for College Savings?

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Does Investment Bias Hurt Your Investing?

Do you find it almost completely impossible to remove complex thoughts and emotions when choosing investments. If you do you are experiencing "investment bias".

Believe it or not there is a whole field of study called “behavioral finance” and it is devoted to understanding why people make their investment decisions. People who do this as their profession say that we all can't help but have biases effecting our investment decisions.

Does this mean we are forever stuck and handicapped by this bias? No, because when we understand how these biases work we can learnt o avoid them.

Here are a few of the worst biases that effect our decision making when picking and maintaining our investments:

Overconfidence.

Overconfidence fools investors into thinking they know the right times to buy and sell an investment. This behavior also known as market timing can be very expensive if you are wrong too many times. Not only will you be losing money on bad trades but you will be experiencing more investment fees and taxes.

Representativeness.

There is a bias called "representativeness". This behavior shows itself as making investment decisions based on preconceived notions or stereotypes.  If you link stocks to other investments because they are alike in some ways, this is representativeness. The hot stock or sector is another form of this. Basing your investment decisions on the hot tip or rumour just leads you to making mistakes. Having a plan of building a portfolio in a balanced way will avoid this. Having good diversification and setting up a group of stock or better yet index funds that force you to be diversified will help you be more successful in your investments.

Anchoring.

This is similar to the previous bias but this bias makes investors weigh decisions to much on past performance of a sector or stock. If you believe a stock is worth a certain price and it drops, your bias assumes the stock is undervalued. This bias based on your assumptions and having no basis in fact will hurt your investment performance.

Confirmation.

This bias occurs when an investor looks for reasons to back up a decision on an investment. Looking for reasons to back up an assumption is backwards. Trying to find proof for your assumption will kill a portfolio's performance. Again, here a bias that is an idea not based on facts. 

A way to overcome bias.

We are all prone to making assumptions and a bias that is not based on facts, but feelings. If you are aware you have a bias, then you can take steps to be on the look out for it in your investment style. All this bias is hard to stay aware of and one way to to avoid it is to seek out good investment advice with a certified financial planner. They will be able to guide you into making more informed decisions and less emotional ones.