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10 Essential Tips for Buying Life Insurance in 2018


It’s always good to be prepared. So, heaven forbid, something happens to you (or your partner), finances should not be a worry. This is where life insurance can play an important role in giving your loved ones peace of mind. There are lots of different policies available, each of which works slightly differently. As such, it’s understandable if you’re left feeling overwhelmed by the options, and with no clue which life insurance policy to choose. It can definitely be a bit of a minefield trying to find the perfect cover for you, but the vast amount of choice also means you’re bound to find something that matches your needs. Here’s a couple of tips for buying life insurance in 2018.

  1. Be prepared for the topics you’re likely to discuss before speaking to a life insurance advisor.

An advisor will need lots of information from you, in order to decide what cover is best for you. As such, it’s worth preparing some answers ahead of time, so that you’re ready to for all of their questions. This will speed up the whole process and won’t leave you feeling shocked if they ask a personal question. Be prepared to answer questions about your financial history and travel plans, as well as giving details about your health and lifestyle.

  1. Research the different types of cover.

There are lots of different types of life insurance policies. Some run for 10 years, others for as long as 25 years – or even more. The most popular type of policy is the level term insurance, where the payout is the same regardless of when you claim. Meanwhile a decreasing term insurance will have the payout that gradually shrinks over the policy term. There’s also the option to create a joint policy with your partner, which works on a ‘first death’ basis. Before you commit to a certain company or policy, make sure to speak to an advisor in person or even fill in a questionnaire online to make sure you’re getting the best type of policy for your circumstances.

  1. Work out how much cover you need.

The amount of cover you need depends on your budget and your requirements. It is known as the ‘sum insured’. Most life insurance advisors will recommend getting a sum insured that is 10 times your annual salary, at the very least. However, it can also depend on other circumstances. For example, if you have a large mortgage and young children, it is advisable to have a larger sum insured than someone with no children and few mortgage repayments left.

  1. Find a claim that suits your financial obligations.

Do you want your life insurance to cover funeral expenses? Or perhaps your looking for a policy that will help with estate taxes. You can even ensure any outstanding debts are dealt with instead of being passed along to your estate. Conditions such as these are a great way to spare your loved ones the burden of having to consider all of these painful details. Life insurance quotes for seniors over 70 will often cover these extras. Make sure to really consider what you want from your life insurance policy, above and beyond the traditional lump sum.

  1. Really think about who you want your beneficiaries to be.

Putting serious thought into who you want to receive your life insurance payout is a difficult process. However, it’s something that’s necessary. After all, how many films are there where someone feels snubbed by the contents of a will? While most families may not be as dramatic as those on the big screen, there are important things to consider, like how children will not be able to receive any money from insurance companies until they are 18.

  1. If you have an ex-spouse, make sure their rights are clearly stated in the life insurance policy.

If you have a divorce agreement that includes child support, then it’s a really good idea to have a corresponding life insurance policy. For example, if the divorce agreement stipulates that you will be providing child support for 10 years, make sure to purchase a term policy for the same length of time. For beneficiaries, you can be named on your ex-spouse’s policy as a ‘party of interest’.

  1. Consider a policy with ‘living benefits’.

‘Living benefits’ have become increasingly popular over the years. They are a component of life insurance policies, which give you access to death benefit money yourself in special circumstances. This can be especially handy if you become ill and need to fund private medical care or fund daily living if you’re diagnosed with a chronic terminal illness.

  1. Double check that you’re able to review or amend your life insurance policy.

Some policies can last for multiple decades, while some can even provide cover until you die. As such, it’s worth getting a policy that you can alter if your circumstances change. For example, things like getting married, having children or getting a different mortgage will all impact the advised sum insured.

  1. Be sure you’re getting an accurate quote.

While a life insurance advisor will do their best to make the process of getting insurance as simple as can be, there is a lot of information that needs to be covered when choosing a policy. Therefore, it’s important to make sure you’re getting the best policy for you. Also, it doesn’t hurt to doubt check that there are no hidden costs or loopholes that may have a terrible impact down the line.

  1. Consider using a ‘free look’ period.

If you’re still not 100% sure you’ve chosen the right policy, but are keen to get life insurance in place, some companies will offer a ‘free look’ period. This will let you change or even cancel your policy after is has been issued, if you do so within a certain time frame. Make sure to check with the life insurance advisor that your policy has this period, and how long it lasts for.

11 great ways to reduce the cost of moving house


Moving house can be expensive – and that’s before you’ve starting hitting the shops looking for that perfect new sofa and curtains.

If you want to save money for the exciting bits of moving to a new home – you’ll need to know where you can really trim back on the boring logistical stuff.

With this in mind we had a chat with the team at Your Property Wizard who provide conveyancing quotes in Glasgow and they have shared 11 tried and tested ways to keep money in your pocket…

#1 – Create a moving budget

A lot of people find that their finances run away with them when they’re moving house.

This is especially true when the pressure starts to mount – a few extra pounds here or there might not matter as you desperately hunt for boxes, a van or last minute essentials, but without something to refer to, that extras spend will soon add up.

Have a look at how much you can afford to spend on each part of the move and try to stick to those figures. It might mean a bit of pre-planning – but sometimes just having a rough idea of what you’d like to spend and how the numbers are adding up can stop you going way over budget.

#2 – Reduce the amount you’re moving

Whether you’re moving yourself or you’re having a company do it for you, the sheer amount of stuff you’re moving contributes to cost significantly. That might be due to the size of removal truck that’s being rented, the number of people that are required – or even just the fuel you’re putting into your car ferrying stuff yourself.

If there are boxes you haven’t unpacked since your last move, now’s the time to start being a little more brutal and getting rid of things you don’t want, don’t use or don’t need.

#3 – Sell stuff

If you’re embracing tip number 2, then why not see if you can recoup some of your moving costs by selling items that you no longer want.

With most online selling platforms the key to quick sales is a low cost – you don’t have to lose money, but there’s no harm in taking a lower offer if it means you don’t have to lug that old wardrobe into and out of a truck.

#4 – Move during the week

Whether you’re renting a van and doing it yourself – or you’re employing the services of a professional removal company, it’s almost guaranteed that it’s going to cost you a lot less if you can do it during the week – rather than over a weekend.

Now, solicitors and lenders often like to wrap up house purchases on a Friday – but there can be some flexibility, so ask, book a day or two off work – and reap the financial benefits.

#5 – Book well in advance

If you can anticipate exactly when you’re going to be moving then booking removal companies or van rental in advance can really reduce the cost.

It’s a cash flow thing a lot of the time – companies like to know there’s money coming in, so they’ll often give you an incentive to commit early.

#6- Compare removal companies

There’s often one or two big removal companies who you’re familiar with – but they’re not the only options. The internet now means we can shop around for the best deal – so try some comparisons and you could very well save a small fortune!

#7 – Check the removal company’s insurance cover

Now, this tip isn’t necessarily going to save you money on the day of your move – but it might mean you don’t have to replace broken valuables further down the line – so might save a considerable amount moving forward!

Always check that removal companies are insured to move everything that you have. Sure, they might not mind shifting the piano or antique pictures – but if either slip off the loading platform you might not get the compensation you expect. Be sure your items are covered!

#8 – Do it yourself

Working out whether or not to move yourself is tricky – if it means lost income it might be worth getting a professional company to help, especially considering how quickly they’re likely to move you.

That said, if you can book a couple of days paid holiday and have a couple of friends who don’t mind lending a hand, you might be able to get things done far more cheaply yourself. If you’re not sure, plot the costs of both and see which is the most appealing.

#9 – Shop around for boxes (or find them for free)

Boxes are a prime item that you can end up paying too much for if you start to get desperate.

Most removal, storage and stationary outlets will have big and robust boxes you can buy – but they’re costly, so at the very least, shop around.

Better yet, search on local for-sale sites and social media groups – people tend to just want rid of them after a move, so you can pick them up for a fraction of the price. Also, consider asking at your local supermarket – the boxes and pallets that heavy items like fruit and bottles come in are often perfect for shifting your stuff.

#10 – Pack yourself

If you’re moving with the help of a professional company there’s often an option to have them do the entire job for you – including packing cupboards, drawers and even sheds and garages.

While this is likely to save you an enormous amount of hard work – it’s also likely to cost you a lot too! If you start early and allocate one or two small jobs each day, you can make light work of packing your house by yourself – and save a small fortune in doing so.

#11 – Do some serious measuring up

Now, it’s unlikely that you’re going to make a big mistake with furniture – but if you do, it can be extremely costly to put right.

It might seem excessive, but measure and double check that everything is going to fit into the new house before it goes into the van. If that corner sofa isn’t going to fit through the door or up the staircase, then you’re facing a really tricky situation that’s only going to be solved by spending more money.

We’ve heard endless horror stories about emergency call-outs for window fitters or joiners who need to remove glazing units or door frames to get big items of furniture in or out of awkward houses, so be sure to measure!

Infographic by: wridgways.com.au

Avoiding Disreputable Precious Metals IRA Companies


When making plans for the future, it can be dissuading when we discover that there are companies out there who are merely looking to take advantage of us. However, the same can be true for any industry, and rather than shy away from the industry, we just need to be more educated when searching for a solution.

Becoming familiar with the more unsavory acts a minority of companies try to carry out means that we will only be paired with a reputable and trustworthy Precious Metals IRA provider. This will ensure that you can confidently build a financial future without having to worry about a business failing or surprise fees.

Don’t Be Fooled into Purchasing Rare Proof Coins

There have been companies in the past that have misled the customer into parting with their hard-earned cash into a Gold IRA rollover, then using the process to invest in rare proof coins.

This is not in the best interests of the account holder, as the only coins that should be purchased are bullion coins. This is because the value of the gold held in a Gold IRA account is normally based on the gold content as opposed to their rarity.

This kind of practice can cost investors a lot of money, and only look to benefit the company. Go to mineweb.net for a more in depth guide on gold IRA rollover process.

Ensure That the Storage of Your Precious Metals is Above Board

When you purchase gold and have it stored with an official custodian, it’s normal practice for you to receive some certification to inform you this has been completed. If you speak to a company that is unable to offer this feature, then it could be advisable to avoid that particular company.

That’s not to say that the company is not complying with what’s expected of them, but as an investor, we need to ensure that we’re able to safeguard ourselves where possible.

If you’re not able to receive any confirmation that your account has been setup and your precious metals have been stored in the right way, then it could be that your account is not all it seems, and could consist of non-existent purchases.

Be Aware of Shaved Coins

While it may be unbelievable, there are precious metal dealers out there that will sell customers shaved coins. Shaved coins mean that some of the gold content has been removed, which can only favor the dealer. As you can imagine, those who are subjected to such a scam will find that their investment is not all that it seems.

Check the Fine Print

Regardless of what service we sign up to, there can be mountains of paperwork we have to navigate through. If the paperwork is for a service like a cable or a cell phone plan, then it’s normal for many us to skim over the details and make a signature.

However, we have to be a bit more vigilant when it comes to securing our future, especially from a financial standpoint. Read through the contract, and then read it again to ensure that the Precious Metals IRA company you plan to use is offering you the right kind of service.

If you’re in any doubt, that it can be advisable to employ the services of an attorney who will help you ascertain as to whether the contract is genuine or not.

Reject Unsolicited Calls

If you receive a phone call asking you whether you would like to invest in a Precious Metals IRA, it can be a good idea to simply end the call. Why? Genuine Precious Metals IRA companies will very rarely cold-call complete strangers, if at all.

Genuine companies will certainly follow up on any interest you may have shown in a Precious Metals IRA, but if you receive a call from a provider without ever making an inquiry, red flags should appear.

The same can apply to door-to-door salespeople. While they may be genuine, it’s not a chance you should be taking with regards to your finances.

Check For Third-Party Accreditation

While many may assume that checking of a Precious Metals IRA company can be complicated, it’s actually easier than you think. To ensure that you’re only dealing with a reputable company, you can check links and feedback via the following platforms.

  • Trustlink
  • Ethics.net
  • Mineweb.net
  • The Better Business Bureau
  • The Business Consumer Alliance

While it’s a not a necessity to ensure that the company has been in business for many years, it’s certainly something you should consider when making a decision. The reason for this is that you want to deal with a company that is both knowledgeable and experienced. This isn’t to say that the company who has been operating for less time is any less professional or reputable, but it can mean it may not have as many details about the industry as you’d like.

Check out the video below on the basics of a gold IRA rollover process:

Effects of Money Management


What are the effects of money management? People should have the idea about the effects of managing their resources because it will not only benefit them, it will also create a chain effect later on. As you can see some people are struggling to manage their finances which often results in people needing IVA help and advice from experts, even though they earn twice as you do, some are still struggling to budget their daily or monthly needs; therefore, there must be something wrong with the equation. As the income increase, the lifestyle also increases and that’s what most are certainly doing, which only means no matter how big you earn if you don’t apply the missing piece then you will never be financially stable. So how does managing your money benefit you? The below are some of the effects of money management.

Helps Us Save– Money management is closely related to saving, especially if we have a lot of extra funds. Rather than spending it all on shopping, caprices and other vices, putting it in the bank is one of the best things to do. The positive effects of saving will be highly appreciated in the long run especially when there are emergencies or financial-related problems.

Makes us financially responsible-If we know how to manage our money well, this is just the reflection on how we manage ourselves, our needs over our wants. Being financially literate is very important because it helps us put our hard-earned money in its right place. This also helps us from a danger of losing all our finances because of focusing only on the present and without thinking how to handle the money properly.

Helps Improve Economic Activity – When people know how to manage their money well, the economy will not suffer too. Money coming from loans with economic purposes like wholesaling, manufacturing, services and agriculture should be really utilized in it. This will only happen if loan borrowers prioritized the purpose of the loan. They should realize that doing this will solve the problems along the way and will eventually improve their lives.

Can Create Ripple Effect – If your relatives and friends notice you are successful, they will be curious and ask you how you do it. You can answer simply, “Because of money management.” Then, you can share to them the different tips on how to handle their resources well. You will be more than happy to see them learn from you and eventually improve their lives.

Saves you from a lot of trouble in the future – There are a lot of rich people who end up poor because they do not know how to manage their money. Admittedly, we don’t want to be like that. We don’t want to waste all our financial resources. We want to make the most out of it. We want it to grow and make some significant changes in our lives. Regret is always in the end. Mismanagement of money will surely hurt us. We might only enjoy it in the present, but we can enjoy it ten times better if we know how to manage it.

Develop Discipline

When you have a goal in life, and you are passionate to get it, then there’s one skill that you are about developing, the discipline. Discipline is the key to success, when you develop this skill whatever goal in life you want to reach will definitely be achieved, thus making you a successful person in the future.

To sum it up, we should remember that responsible money management is something that each of us should possess. Financial illiteracy is a great menace to the society that we should get rid of. It will only cause different problems along the way. We should prioritize money management over the stuff we want, over the things we can live about because handling our resources well will offer us a life that is productive and successful.