Monday, October 22, 2007

Carnival of Personal Finance #123

The carnival of personal finance is up on Dough Roller's blog. Just wanted to say thanks to Dough Roller for including my article on life insurance. As always check out the blog there are a lot of great entries. I will post some of my favorites once I get a chance to read them.

Friday, October 19, 2007

More Drama

So since having work done one both cars, one of the cars has decided to continue to have problems. I guess it's because it is an '98 and has never given us problems until now. Oh well I guess that is life. If it's not one thing it's another. Well hopefully we have everything fixed now that needed to be fixed and the car will last us a little longer. The car is paid of and I really don't want to get into another car payment, but it looks like if it is going to cost us more to maintain it may be better to get rid of it and get something new. The bad thing is, is that I am attached to the car and don't want to get rid of it. So I guess we will see how it runs for a while. Hopefully we can keep it, since I am kind of attached to it.

Tuesday, October 09, 2007

Emergency Fund Works

Turns out we had to have all kinds of work done on both our cars this month. It was unexpected and we were short on cash also. So our emergency fund came to the rescue. It sure beat busting out the credit cards again. So anyway we got most of the work done and only have a couple of minor things to take care of. Start an emergency fund it works.

Monday, October 01, 2007

Life Insurance, How Much is Enough?

Life Insurance may be taboo to talk about because no one wants to talk about their mortality, but Life Insurance is something everyone definitely needs. Well how much do you need? Money Magazine says that you need to multiply your income by five to come up with the amount that you need. Much of the question is how much will your family need to survive if you pass away. Then there is the question of whether to get a term life policy or a whole life policy. A term life policy is good for the amount of years you purchase it for 10yrs, 15yrs, etc.... A whole life policy is more like an investment, you are investing a premium into your policy and if at a certain age you have not passed away, you can start withdrawing on your money. The younger you are the cheaper it is to get a life policy and you can have a lot invested by the time that you are ready to retire. The best thing to do is get with a good agent and have them go over your many options.