How to Find the Right Car Insurance for Your Teen

Teenagers are notoriously bad drivers. It's understandable. They're new at this. They don't have the experience you do. Still, it hurts the pocketbook when you get that premium notice in the mail and the bill is higher than you remember it being last month. Here are a few ways to lower the burden on yourself without having to truck the kids around yourself. 

Buy An Older Car

Teens don't need a shiny new vehicle. An old one lets them "cut their teeth" on something that isn't worth much money if it ends up totaled in three months. Plus, older cars are dirt cheap to insure. You don't have to carry collision insurance on them, and many older cars still have important safety features like airbags and a basic security system with keyless entry.

Raise Your Deductibles On Your Primary Vehicle

Raising deductibles on your primary vehicle is a smart thing to do if you have a good driving record. Odds are you can afford to pay a $1,000 deductible to get your car fixed if you're in an accident. If you choose to put collision on your kid's car, it's probably a mistake to raise the deductible there, though you can explore that option too if you're willing to front the deductible. Just realize that teens often have many more accidents than adults do.

Get Your Child A Tutor

School is tough. Your teen might not enjoy any of his classes - or he may not like, or excel in, certain ones. That can come back to bite him, and you, sooner than you think. Many insurance companies reward good grades in school. Consequently, they punish poor grades.

School performance is a good proxy for responsibility. If a child has good grades, it shows that the student is a responsible person, intelligent, and probably a good risk - all other factors being equal (even if the child doesn't have a lot of driving experience).

Likewise, if your child struggles with homework, has failing grades, or even skips class - don't expect any leniency from the insurer. Consider hiring a tutor to help him raise his grades.

After six months or so, call your insurer back, and ask for a discount. You may be surprised at just how much an insurer will discount your premiums. If your child is in college, he generally needs at least 12 credits to quality for discounts. In highschool, he needs at least a B average. 

Enroll Your Teen In a Defensive Driving Course

Defensive driving courses are an excellent way to save money on insurance. A defensive driving course will teach your teen the basics of defensive driving, demonstrate safe driving practices, and will require that your teen pass a test at the end of the course.

This isn't a substitute for driver education class, but it's an excellent way to supplement it. It often results in a direct discount on your premiums. While you're at it, you could also sign up for the course - take it with your child.

That way, you both get a discount.

Gillian Kearney has extensive experience as an insurance consultant. She enjoys sharing her insurance tips on various blogs. Visit Monkey for more ideas.

Are You Thinking About A Reverse Mortgage? You May Want To Think Twice!

We all have felt the hit of the recent financial recession and are trying to recover now. Unfortunately however, many were at the ripe age of retirement or just before as the recession really took hold. This lead to many of our elderly community being overwhelmed with incredible amounts of debt! 

Debt that, can really seem impossible to pay off once you reach a retirement age. Some decided to work for as long as they could to try and recoup losses while others simply retired and planned to cross the bridges as they came. As bridges start to show themselves, a reverse mortgage starts to seem like a great vehicle for crossing a bridge of financial struggles. 

What Is A Reverse Mortgage

A reverse mortgage is just like a standard mortgage. So, to understand the reverse, you must understand the regular. In a regular mortgage, you make payments. As you make payments, you increase the equity in your home. Once all payments are made in full, the home becomes your property. During the course of a reverse mortgage, you don't make payments, the lender makes them to you. 

The payments can be made monthly or in one lump sum and are based off of the equity you've earned making your mortgage payments. However, if you would like to make a payment to increase your credit line, you are more than welcome to do so without penalty. So, this really seems like the revolving credit line of your dreams. No mortgage payment, lenders pay you, you can really pay down some debts! 

So, Why Would You Want To Think Twice

While you still live in your home, the reverse mortgage seems like the greatest thing in the world. But, I'm sure that you have family. Family that you intend on leaving something behind for. Chances are, your children were raised in the house that you are thinking about a reverse mortgage for. You just might want to leave that to them. However, when you pass or leave the home, the debt will become due. 

This means that if your children or other family that you give your home to wants to keep it, they will have to pay for the equity that was removed through the reverse mortgage. The truth is, if a home was left to me under these conditions, chances are, I couldn't go off on a whim and come up with $30,000.00, $50,000.00 or $100,000.00! Therefore, if you plan to give your home to your children when you pass, you may want to think twice about this option! 

Remember, Reverse Mortgages Aren't Your Only Option

Debt can be incredibly overwhelming, even scary in some cases. I know, I've experienced it! But, there is no reason to jump at your first option for debt relief. Who knows, a reverse mortgage might just be right for you. But, always remember that if you decide it's not, there are always other options. I have seen credit card hardship programs, payment plans and balance transfer credit cards really help people in bad financial positions. Before choosing any debt relief option, do a bit of research and make sure that it is the option that best fits your unique financial position.

About The Author – Joshua Rodriguez
This article was written by Joshua Rodriguez, proud owner of CNA Finance and avid personal finance journalist. Join the conversation about this article on facebook!

Top Eight Wealth Tips for Women

Finance (Photo credit: Tax Credits)

There are lot many financial problems with women. Often it is heard that women delegate their financial issues to her husband or someone important in the family. Later if the condition deteriorates and situation turns to divorce, it plunges them into dearth. Apart there are women who spend more than their earning and ultimately become mired in debt. With this article I want to convey all women that don't let your fate die like this be judicious in your financial planning and let write a balanced economical story.

A recent research conducted by national center for women and retirement research showed that there is a direct correlation between women’s traits and the way they deal their finances. Boldness, honesty to change, and having an optimistic outlook towards the situation are the qualities that are liable to pilot smart money choices. The problem with money and cash is directly related to our life and relationships. If we are successful in working with economical issues, many of our problems will be automatically solved or will take care of themselves. There are instances in the lives that we have solved our financial issues and all our other problems are solved automatically.

People are emotionally attached with the money. It represents the power, love and control over the living standards. The belief about money and the emotions attach to it are strongly influenced by the way we spend and handle our income. Just take the case on yourself, imagine where you should be financially, and examine what are the prospects that drive you emotionally. If it is the money try to figure out, what is the psychological stumbling that restricts you from achieving your aim.

I have collected 8 most vital things that are easy for women to opt for and change their economical star in favor. Just follow these points and secure your financial future…

1. Never rely on others, not even husband or boyfriend, for your financial security. Be educated and keep yourself updated about your money management plan. Try to keep note on your investing and overcome the financial gender gap. 
2. Set your goals because it is the only way that will lead to financial success. 
3. Remember, money should never be used to make you feel good. It is just like fleeting. It is better to do things that help to gain self respect and ingenuity. 
4. The key point is to spend less than you earn, it is the only secret that will help you to create wealth. 
5. Be educated, it is seen that people having college degrees earn more than those who have no degrees. 
6. Try to have an emergency fund, it need to be built by you. Having no emergency fund will push you into problems in the adverse conditions like losing job and incurring unexpected bill. 
7. Be involved in daily management of the money in your family 
8. Never overcome the fear of losing money over power you. Learn from your mistakes and invest on secured options like TermLifeInsurance.com. These are safe options and it will help you to secure your financial future. 

Why logbook loans should be taken out for a few months

With the economic recession seeing more people getting into financial difficulty, looking for options for financial aid has become an alarming trend. The steady rise in short term loan companies offering loan options such as payday loans and logbook loans has shown a rapid growth in recent years. With high street banks borrowing less frequently, more people have looked at short term loans as an alternative. Having a bad credit history can mean that banks are an option that are off limits to most people. As a result short term loan options can then be an easier choice. 

Explaining a logbook loan 

A logbook loan is a secured loan. Unlike payday loans, to take out a logbook loan you must be a vehicle owner. The car should also be free of finance and be registered to the person taking out the loan. The person’s vehicle is used as collateral to secure the loan with the logbook being transferred to the loan provider whilst the loan is then paid off. Once the loan is paid back in full, the logbook is returned to the owner. In the unlikely event that the loan is not repaid back in full, the vehicle can be repossessed and sold to recover the losses. 

Benefits of logbook loans 

Because a logbook loan uses a person’s vehicle as collateral, there is in most cases no need to carry out credit checks. This is what makes logbook loans attractive because for those with bad a bad credit history, there may be no other way to secure financial assistance. Interest rates can be higher but still much lower than payday loans. A typical APR on a logbook loan is 380% compared to 4000% for a payday loan. 

Why logbook loans are a short loan 

Most people who take out short term loans such as payday loans and logbook loans must be aware that both types of loans are for short term use. There are many stories in the press of people getting into huge amounts of debt with loans such as payday loans. Typically the APR with short term loans is very high and as a bad credit loan this is where price for quick cash and no credit checks comes in. It is worth noting that with a logbook loan, paying it back within a few months can see interest rates be much lower. 

Reputable providers will advertise logbook loans with repayment plans of 1 to 6 months. Any longer than that and the interest rates will not be much higher. Some companies offer interest rates of around 30% for loans paid back within 3 months. Compare this to annual APR on logbook loans of around 380%; it is easy to see why logbook loans should only be considered as a short term loan option. 

3 New Strategies for Retirement Income

Much like your life now is nothing like the life of your parents, the same will probably hold true of your retirement as well. It is no longer as easy as applying for your Social Security checks and sitting back and collecting your pension. You are probably a great deal more active and will work and live longer and therefore will have to rely on income that you have saved along the way. This means you need to ensure that this income you will be saving will have the potential to last you for your entire life and be able to weather inflation, health care expenses and the ups and downs of the market. 

Although this might sound a bit overwhelming, it does not need to be. There are services out there such as Dinuzzo Investment Advisors that can help you cover all the bases. With that said, below are 3 strategies to help you secure your retirement income. 

1. Fixed-income Annuities 

This type of income is you contracting with a particular insurance company which asks for an investment up-front but guarantees to pay you a specific income amount for the remainder of your life or for a specific time period. It starts either immediately or on a selected future date that you choose. This type of retirement income is straightforward and along with Social Security, your pension plan and fixed annuities can provide you with a guaranteed income that will assist you with your expenses. Your insurance company will be obligated to provide you with payments for that specific time period that you chose or again, you can go with the lifetime option and you will receive payments for as long as you live. Regardless if you choose the lifetime option or the defined period, you will get those payments no matter what happens in the financial market.
 

2. Variable annuities 

Variable Annuities, unlike fixed-income annuities, come with underlying options for investment which offer potential growth for helping to offset inflation. This type of annuity will guarantee payments for your entire life. However, depending on the particular specifics of the annuity, the payments can go up or down depending on the underlying investment performance. You are able to pay a little extra to get a deferred variable annuity which will guarantee you with a GMWB or guaranteed minimum withdrawal benefit so that your payments will not go any lower than the set amount but can rise in the event of market performance. 

3. Investment Portfolio Withdrawals 

Investment portfolios usually consist of a mix of short-term investments, bonds and stocks. They provide you with flexibility allowing you to typically access your money when needed, and they have huge growth potential. There is always a market risk however that is associated with investment portfolios and is why it is typically suggested that you use it for covering discretionary expenses that are necessary in retirement. If there is poor performance in the market, you can always compensate by holding back on some of the discretionary expenses. 

Author Bio: 
Ashley Parker has been a freelance writer for over 3 years and has experience writing in the retirement income niche.

Why a Onesie Will Help You To Relax

There’s nothing better than that feeling you get when you finish work for the day. You throw down your pen or let go of the mouse, switch the computer off and make a dash for the door as quickly as possible. 

Braving the cold and the rain, you head for the train or your car and endure mind-numbing boredom for the next half an hour whilst you battle rush hour to get home. By this point you’re probably starving and tired! Upon reaching home, you feel like you have completed some mighty quest, triumphantly returning to your castle.

 
When you get to the end of your working day, how do you unwind? Do you religiously don your sportswear and head to the gym? Is it a case of supervising the dinner, bath and bed routine for your children? Or, do you kick back with a cup of tea and watch your favourite dramas on TV? However you spend your evening, it’s important to make the most of those precious segments of leisure time we enjoy in the week. 

The question is, what do you wear around the house? Some people favour shorts and t-shirt or tracksuit bottoms in the winter. Others prefer to keep things a little more formal, donning jeans and shirts even for just chilling at home. Then there’s people who save all their old, torn, tattered, paint-stained clothes for home, this generally being the case for those with young children. 

All of these clothes come with their advantages and disadvantages. Shorts and tracksuits can tend to look a little scruffy, even though they are comfy. Jeans, chinos and shirts look smart but are hard to relax in, because the materials are not designed to stretch. Wearing old and damaged clothes is practical, but what kind of impression do you make on anyone who just happens to pop round? 

Another option of course is to wear a one piece bodysuit. Having become fashionable in late 2012, these garments are called ‘onesies’ and entirely cover the body. Cute and cosy, onesies also keep out the cold. There are loads of different types to choose from. 

Since this type of clothing became popular, my boyfriend made an idle threat that if I ever wore one around the house he would cancel our wedding. This of course spurred me on to buy several of the things, and to wear them whenever he’s not home. I just love how warm they are and how soft they feel – much nicer than wearing normal clothes for when I’m watching a film or reading a book in the evening by lamplight, my cats cuddled up around me. 

So, when the other half dons his football pads for a night of sport in the freezing rain or snow, I rush upstairs to throw on my favourite onesie. What he doesn’t know can’t hurt him, after all! 

Author Bio: 
Roberta Cassidy is a bride-to-be currently plotting how to keep her onesie collection hidden from her boyfriend until after the wedding.