These Five Tips Could Save Seniors Big Money on Car Insurance

We’ve written in the past about strategies that people over the age of 50 can use to save money when insuring a vehicle. In this article, we’ll expand on that with a few extra tips that seniors can take advantage of when purchasing coverage for an automobile. 

Tip #1: Ask for a Senior Discount.

Each insurer is going to have different policies in place, but if you are over the age of 50 and own one or more vehicles, it certainly doesn’t hurt to ask for a senior discount. Generally speaking, seniors are some of the safest drivers on the road. They drive defensively and are less likely to drive over the speed limit or take risks. Insurers are well aware of this, and some offer discounts as a result.

In some places, there may be incentives in place for taking a course on defensive driving. Even if you believe that you already incorporate all of the safe driving tactics, it never hurts to brush up on your skills. And even if you don’t learn anything new, the discount you receive is enough to justify enrollment-. 

Tip #2: Know Your Expected Mileage.

As drivers get on in age, they tend to spend less time behind the wheel. This is especially likely after retirement, when the daily commute is cut out of the picture. Lower mileage will most likely qualify you for a more affordable plan, so keep track of your odometer over the course of a standard month and see how this projects over the course of a year. Ring your insurer and ask them about discounts for low mileage. They will be able to advise you about the availability of cheaper plans with mileage caps. 

Tip #3: Choose the Appropriate Coverage.

These days, you’ll find as many policies and coverage types as there are vehicle types to carry them. Many people over the age of 50 have vintage hobby cars that they plan to work on in retirement and take out for the occasional leisure tour. In this case, you are going to be much better off with classic car insurance. Policies like this are often more affordable than standing coverage, because insurers know that hobbyists take excellent care of their vehicles. Their vintage vehicle is their pride and joy, and that means that the owner is not going to take any unnecessary risks. On the contrary, they’ll pamper their vehicle and treat it with the utmost care.

Note: It may be possible to insure multiple vintage vehicles on a single policy.

Tip #4: Purchase a Vehicle that Suits Your Lifestyle.

Hot rods and sports cars are for the young and reckless. Mature drivers are happier in vehicles with higher safety ratings. As it turns out, insurers prefer these vehicles as well. Flash, high-performance vehicles may turn heads, but they also have a knack for being involved in accidents.

Each year, the Insurance Institute for Highway Safety releases a list of the safest cars on the road. You’ll find a range of vehicle types on the list, one of which is sure to catch your eye. Cross-reference this list with that of your insurer’s and see if a low-risk policy applies. There’s a good chance that you could save some money by driving one of these cars. 

Tip #5: Be Mindful of Your Driving Ability.

This is one of the toughest tips for mature drivers. While those who are over the age of 50 are classed as some of the lowest-risk drivers on the road, it’s worth noting that there’s a limit. At some point, ageing drivers become a higher risk due to a range of factors such as deteriorating vision, delayed reaction time and the onset of dementia.

Remain mindful of your driving record, and be advised that a series of scuffs and bang-ups will eventually lead to higher premiums. Put a priority on your safety—as well as that of those with whom you share the road. Likewise, if family members and loved ones are becoming increasingly concerned with your driving ability, take note. Giving up your position behind wheel can be tough, and it may feel like you’re giving up independence—but don’t let that get you down. This is simply a milestone of ageing.

6 People Who Went Bankrupt Early In Life and Later Retired Comfortably

Portrait of Henry Ford (ca. 1919) (Photo credit: Wikipedia)

Filing bankruptcy doesn't only affect finances. People who file bankruptcy often take a hit to their self-esteem. Fortunately, bankruptcy doesn't mean an end to success and financial stability. According to Abakhan & Associates Inc. from Kelowna, British Columbia, bankruptcy may provide the clean slate needed to start over and become even more successful than before. Several well-known people had to file for bankruptcy before they found success.

Cyndi Lauper

Before she was an 80s music icon, Cyndi Lauper's band Blue Angel had a record that flopped. Their manager sued them for a hefty $80,000 and forced Lauper into bankruptcy. She went out on her own and her hit song “Girls Just Want to Have Fun” helped make her one of the most popular singers of the 80s. With her bankruptcy behind her, she created a better financial future for herself.

PT Barnum

Before he created the “Barnum and Bailey Circus”, PT Barnum owned a museum that showcased natural oddities and invested in the development of East Bridgeport, Connecticut. Both business investment failed to work out, and subsequently PT Barnum was forced into bankruptcy. Four years later, at the age of 61, he found success in the circus business.

Walt Disney

Walt Disney's first animation firm, Laugh O Gram Studio was opened in 1920 in New York. The company saw some success, but ended up suddenly broke. It was this first attempt that created the iconic mouse, Mikey and also forced Walt Disney into bankruptcy. Disney earned the money to travel to Hollywood where he started his business over and named it after himself. He earned millions of dollars and remains one of the most well-known names in the industry.

Henry Ford

Today, the Ford Motor Company is a household name. The founder, Henry Ford wasn't always successful, though. As an engineer at The Edison Illuminating Company, he created his first automobile called the “Quadricycle”. The design was a success, but his marketing efforts failed, and the vehicle didn't catch on with the public. He left the company and filed for bankruptcy shortly after. A year later, he created the Ford Motor Company. His newly developed automobile was record breaking. In 1908, he released the Model-T and became one of the most famous names in the car industry.

Milton Hershey

Milton Hershey is the father of Hershey’s chocolate. This brand is ubiquitous and is recognized internationally as a quality candy company. However the beginning wasn’t easy for Milton. In fact his first couple of attempts at starting a confectionary company failed and resulted in bankruptcy. The family eventually came to view him as an irresponsible vagrant. He finally found his success after learning some confection secrets from a company in Denver, and bringing those secrets to Lancaster Michigan.

H.J. Heinz

Love your ketchup? Thank H.J. Heinz for having the persistence to push through difficulty. At 25 he started a company that produced horseradish. According to legend, there were 57 varieties of his horseradish. After an economic slump in 1875, Heinz’s enterprises were forced into bankruptcy. That didn’t stop Heinz: the very next year, Heinz partnered with family members to start producing the world’s most popular condiment: ketchup. In Pittsburg, the business took off and gained massive popularity. Today the legacy lives on as Heinz Co. rakes in billions of dollars in revenue per year.

Bankruptcy isn't a reason to feel bad, and it doesn't mean giving up on a better future. When filed wisely, bankruptcy can be a good way to protect against debt, start over with a clean slate and work toward building a better, more stable financial future.

4 Ways Hiring a Cleaning Service Can Save Your Household Money this Summer

Some people are hesitant to hire a cleaning service because they believe they cannot afford it. To them, hiring a company to clean their home seems like an extra expense that can be avoided by simply performing the cleaning themselves. However, you may be surprised to learn that hiring a cleaning service can actually save your household money. 

Here are four reasons why this is the case. 

It Will Save You Time

Hiring a cleaning service means that you don't have to devote part of your day to tidy up your home. Apartment cleaning Chicago gives you the extra time and extra chance to be more productive with other home improvement projects, taking care of your kids, going to the gym, or whatever might be pressing on your agenda that you might need or want to accomplish. 

Besides, the cleaning service personnel will likely be able to finish the job faster than you would have if you had done it yourself. This is especially true if you work at home. You can use that saved time to complete a project faster and find more work. The increase in business can more than compensate for the cost of hiring an affordable cleaning service. 

It Will Improve Your Health and Energy Level

Businesses lose countless dollars each year when employees are unable to work due to illness, and the employees themselves often suffer lost wages. They are also forced to spend extra money on medicines and doctor visits. 



Hiring a cleaning service can lead to extra rest and relaxation. You will be spared from the strenuous work of keeping each room in your house clean. This will significantly reduce the odds of becoming sick and missing work. 

Making Items Easier To Find

The clutter of a messy home often leads to difficulties finding items. Many people simply give up and rush to the store to buy the product that they think that they have lost, only to find the original item later. The same people also have problems finding important documents like bills or they have trouble finding other important items like their checkbook. 

With a clean and well-organized home you will have no trouble finding the things that are most important that allow your daily life to function. Therefore, a well-organized house, it will be much easier to find things, saving you money on replacements, hassle, and stress. 

It Inspires You

Having a clean home gives many people an emotional boost. Many of us take great pride in having a beautiful home. It reduces stress and helps them become more productive. This can translate to increased productivity and extra income. For example, if you are a writer or an artist by hobby or profession, a clean and well-organized home will allow you to be inspired with new and improved ideas. 

This might even allow you to come up with your own personal masterpiece. Perhaps that masterpiece you came up with will cause a change in the world around you. Just keep in mind that the most successful and brightest people out there have one thing in common, they all have a well-organized, clean home or environment around them.

Conclusion

Make sure to do diligent research before hiring a cleaning company. You should check out each company's website to see what they have to offer. Make sure to contact them for more information about their services and hourly rates. However, above all else, make sure the hiring a cleaning service right for you and make sure you hire the right cleaning service for your needs.

Avoid Overspending: Six Services And Items You Can Save On With Little Effort

Although many people consistently overpay due to self negligence and laziness, there are many individuals who are simply unaware of the numerous money-saving opportunities that require little physical or mental expenditure. 

Personal Money Management Websites

Want to create a personalized budget on the fly or create a savings goal to meet by the end of the quarter? It's important to know where your money is being spent and exactly how much you have left in your account. Money management sites like Mint.com and Yodlee Money Center offer software to users for free. Take the time to set it up and see exactly the state of your financial affairs. 

Add Insulation to Your Home and Attic

This age-old advice is not put into practice nearly enough. Heat is measured in the form of BTUs, or "therms", and each BTU costs about a dollar. When not insulated correctly, BTUs will be lost through a process known as thermal transmittance. Evaluate the amount of heat you lose and fix the deficiencies to ensure your money isn't being wasted. 

Library Registration

Instead of shelling out hard-earned cash each week for the latest Grisham novel or the most recent Blu-Ray release, register for a card at your local library. Most have extensive collections of Movies and TV shows, both current and classics. Because the registration for a library card is inexpensive, it pays off to go there for your next read or new movie.

Cash In With Rewards Cards

Game the system with rewards credit cards. Most people, unfortunately, associate credit cards with needless debt, but there are many cards that offer significant perks for their users. Search the web and peruse the plethora of options available. Use a credit card that offers rewards for services you use a lot or are interested in, like gas, travel and food.

House Swap

Planning a trip to a far-off or expensive place? You might want to look into swapping residencies with someone from your intended area of visit. Instead of paying extravagant hotel fees, the two parties simply switch places, free of charge to both. Be sure to thoroughly research website that offer these services to make sure it is reputable. 

Home Maintenance

This is an oft-overlooked area of saving for homeowners. Most people see home maintenance as an avoidable expense, but as any homeowner knows, this is not the case. Sometimes, homeowners can fix repairs and minor problems around the home, but many don't know that calling in a professional can actually save future costs and jobs done incorrectly. This is especially true with plumbing problems. Calling an expert can save you a lot of money and time on repairs you can't do yourself, says the professionals at Amyotte's Plumbing & Heating Ltd.

Too often, people choose what is expedient over what is proactive. Start saving today by following these simple tips to avoid unnecessary overspending.