More Than Finances

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Your Life, Their Future: Life Insurance Keeps Your Family Secure

Life insurance is typically regarded as a morbid topic that’s uncomfortable for families to broach. In reality, it’s a very practical and positive thing to do for yourself and your loved ones.

How stable would your family be if you lost your job or passed away? The time to consider this is now. Here are a few points to bear in mind as you explore your options for life insurance.

Life insurance can benefit the living – including you.

It’s a common misconception that one has to die in order for life insurance to be useful. It actually depends on the type of policy you choose, so life insurance comparison is absolutely necessary to understanding this better.

For example, term life insurance covers you for a specific number of years. If you survive the term, your coverage is over.

A permanent life insurance policy, on the other hand, is a valuable investment. You pay more, but the money you pay in can be an asset you can draw from when you need it. The money you pay can serve as:

  • Supplemental retirement income
  • Collateral on loans
  • Tax advantages
  • College tuition

And more, all of which is dependent on your specific policy.

There are different kinds of permanent life insurance policies.

If you’re someone who is likely to miss a monthly premium payment at some point, a universal life insurance policy may be right for you. A universal only demands that you meet an annual minimum in payments.

Survivorship policies may be a good option for couples. With these, money is paid to a beneficiary only after both you and your partner have passed. You can save money by doubling up here.

Variable life insurance can be pricey, but it’s paid for out of an investment account. If you do well, your value will increase and your premiums will be paid for out of the account. You’re also not locked into a particular premium payment here; they’re quite adjustable.

Arguably the most complicated type of policy, variable universal permanent life insurance combines the functionality and flexibility of universal policies with the investment side of variables.

Life insurance helps your family recover.

We don’t often consider what will happen after we die; all of that seems like something we can put off until another day, when we’re sick or elderly. But the death of a loved one is very complicated and traumatic for those people who have to deal with funeral arrangements, bills, debts, taxes, and other annoyances while they’re in great emotional distress.

A permanent life insurance policy can be used to pay for funeral services, estate taxes, your children’s education, and is often used to replace your income after you go.

Your family may miss you the most, but this suffering is often compounded by a drastic change in lifestyle. Ensuring that life will go on the best it can is a parting gift that will make the transition a little bit easier. And until then, speaking to an expert can help you figure out how to make your life insurance policy a valuable asset – while you’re still around.


Solutions to Paying Off Your Debt

Few people realize just how much of an impedance debt is to moving forward in life. Not only does being in debt create stress and barriers, it sometimes seems like a downward-spiraling tunnel that just keeps getting deeper and deeper. How do you get out it?

If you’ve got several outstanding bills, then debt consolidation just may be the solution that works for you. Having all of your bills in single place, where you can take care of them with just one monthly payment at an agreeable rate of interest, is a confirmed stress-reliever for many people. Online sites such as are comprehensive sources for those looking for debt-resolution options. In the following, you’ll see how many people in your situation are extracting themselves from the debt-spiral.

First and Foremost: Suspend Borrowing

This is the primary reason why debt is so hard to get out of – you have to stop using your credit cards. If you haven’t used the available balance so much so that your minimum payment has risen above the lowest possible amount, then you can keep using the card up until then. But no matter what – remember, you have to pay this back, too.

You need to dial down on the expenses of your lifestyle to only what you can afford to pay directly. This means buying food with your debit card or just cash, and doing the same when you go shopping. There is no game plan for debt-reduction that doesn’t include suspension of debt-utilization.

Start Saving Money for Emergencies

This one takes into account the common use of credit cards for emergencies. Although, of course, you should use your card if you have no other alternatives, this represents a big hit on your reduction plans. By steadily saving actual money from your paycheck and placing it into a separate bank account – many online accounts these days allow you to create sub-accounts – you have something to fall back on for the unavoidable.

Besides, once you do this – you’ll better appreciate the utility of saving cash for general purchases, too. It’s all about having the right mindset to solidifying your financial future.

Budgeting for Everyday Expenses

The beauty of this part, in particular, is the availability of numerous apps that tally and automate this process. You enter the initial details, which consist of all your sources of income and the expenses you manage. It makes the goal of debt reduction real in your mind, and provides you with a mechanism by which to track your progress in real-time.

The surplus amount of cash you have after accounting for income and expenses can be used to pay your debt down steadily. If you’re in a deficit, then it’s unlikely you’ll be able to reduce your debt appreciably. You will need to increase the number of hours worked, or get a new, higher-paying job. Reducing your expenses also has a similar effect; the point is that you need to turn your deficit into a surplus if you hope to pay off your credit cards.

Some options could be becoming an Uber or Lyft driver in your off-time, and using whatever extra money you pick up to pay off your bills. You’d be surprised how quickly it will add up. There are plenty of these kinds of jobs available; and, when the income you pick up is coupled with cancellation of creature comforts (how often do you really watch the $50 per month of cable you purchase?), you’ll find it much easier to hit the deadlines you set in your debt reduction app.

Map Out Your Debt

This just means separating your debt into manageable sections. You want to get rid of the high-interest debt first, of course, since it represents the single greatest impediment to hacking away at the principal. Another method is arranging it from greatest to least – irrespective of interest rate. Either one works; it really just depends on which you prefer. You’ll build up steam and find it easier to pay off as you go along.

Once your debt is manageable, don’t stop – keep paying it until it disappears. You’ll see just how many prospects open up once you’re no longer being dragged down by interest rate payments.


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Your Family Deserves Your Full Investment: Lower Your Family Debt and Give Them a Better Future

Most of us know the harrowing statistics about credit card debt. The average Canadian owes over $22,000 in non-mortgage debt, and much of that debt is credit cards.

Most people can comfortably pay off less than $10,000 in debt, if the moneylenders give them enough time to do so. That’s often a very big “if.” Credit card debt above $10,000 is almost impossible to retire without making extreme sacrifices, and that is a difficult thing to do when so much money simply goes to interest payments.

In both these situations, it’s usually best to consolidate multiple debts, like credit cards, with debt help counseling.

How It Works

It is almost impossible to consolidate credit card debt on a piecemeal, individual basis. For one thing, most people do not have several hours to sit on hold or participate in an endless email thread; for another thing, there is no guarantee that the person you are speaking with has the authority to reduce payments or interest rates.

On the other hand, when a debt consolidation specialist reaches out to a moneylender, good things happen. A trained debt counsellor knows what to say and how to say it, typically because a debt consolidation firm has a pre-existing relationship with most moneylenders that’s been successful in the past. Moreover, when a debt consolidator represents several families, the results are even better. These results often include:

  • Reduced interest rate,
  • Waived late fees, and
  • A hold on adverse action, like collections calls and even civil lawsuits.

As a result, the debt is paid off faster because more money goes to principal reduction each month and there is much less debt-related stress.

There’s more. Teaming up with a debt consolidation specialist gives you access to professional credit and budget counselling, which helps you understand why these obligations grew so much in the first place. Since it empowers you with healthy money management habits, debt consolidation sets you up for future success.

Better Than the Alternatives

Regardless of what you do or do not do, the credit card bills are not going away. And debt consolidation is a much better alternative than some other approaches.

Paying full price and full term is simply not smart money management. It’s very important to teach your children to be good stewards of their money, and the best way to do that is to set a positive example. Debt consolidation is a great opportunity to do just that.

Bankruptcy usually is not a very good alternative for credit card debt either. This avenue is really best for people who have issues with mortgage debt and other secured debts, because the possible adverse action (namely foreclosure) is so much worse. Using bankruptcy to deal with credit card debt is not quite like using a flamethrower to kill a housefly, but it is rather close. Bankruptcy also does nothing to restore your credit rating, and paying off credit card debts usually has the opposite effect, even with a debt consolidation loan.

The longer you delay this decision, the more interest you pay, so make the call to a debt consolidation specialist straightaway.


Debunking 6 Common Excuses People Give Not to Travel

You were blessed with a human brain that can rationalize situation or circumstance. If you are looking for reasons to do or not to do anything, you will find them. The reasons don’t have to be compelling for you to believe them.
Some of the stories you’ve created in your head to rationalize not doing some of the things you should be doing will sound crazy to a second party, but you believe the stories as though they were gospel truth. The same applies to the excuses people usually give for not taking the time to tour this beautiful world. 
Below are 7 common excuses people give not to travel and reasons why their excuses are actually totally invalid. 

“I can’t Afford to Travel”

We’ve all heard this excuse. You may have said it at some point in time. The truth is that any employed person can find money to travel if they really care about traveling. If traveling is really important to you, you will find the money to fund your adventures.
Travel costs as much as you spend on nights out with your friends in a month plus the small treats you give yourself in the form of new designer clothes, ice cream and inflated car payments for a luxury car you don’t need.
If you really are on a tight budget and you want to travel, you need to take a hard look at where your money is going and start cutting out the expenditures you can live without. If you save $1,500 a year for travel, you’ve put aside enough money for a return flight to an exotic destination not far from where you live and enough to have fun for a few days at the destination.

“I Don’t Have the Time”

This is just as a good an excuse at the I can’t afford to travel’ excuse. It an excuse standing on stilts and will stumble as soon as it is bombarded with facts. The person saying that they don’t have time to travel is probably saying that they are preoccupied with work and can’t take time off.
The reality is that taking time off actually helps with productivity. Working non-stop without resting is bad for both your health and the bottom line. The better rested you are, the higher the quality of work you produce and the faster you can get projects completed. 
Further, the average workplace gives its workers two weeks of paid vacation. To not take full advantage of this opportunity when you’ve fully earned it is to cut yourself short, even though about 54 percent of people don’t do it
Vacation time is your right as an employee. No one can fire you because you decided to use what is your right. 

“I Don’t Want to Travel Alone”

Okay, I get it. Traveling solo when it is your first trip can be frightening. Nonetheless, there are workarounds to this problem if you can’t find anyone to go on vacation with you.
The most obvious solution is to join a group that is part of a packaged trip. Such travel packages usually have itineraries mapped out and accommodations arranged. All you have to do is join other people who’ve bought the package and you are good to go. If you book with a local travel agency, you will be traveling with people from your city and you won’t feel lonely any more.
That said, solo travel is also fun. More and more people are choosing to hit the road on their own. According to a 2015 Visa Global Intentions Study, up to 37 percent of first time travelers are solo travelers. You will be in good company when you finally hit the road. 
If you stay at a resort or hostel where guests interact with each other, you can strike up a conversation with one of the solo travelers and you’ll end up with a reliable travel buddy.

“I Have a Small Kid, It Won’t Be Fun”

That’s a total lie and you know it. Having a small kid won’t ruin your travel experience. It might actually make it even more fun. Kids have a way of bringing joy even to the dullest of situations. As long as you choose activities and resorts that are kid friendly, you will be fine, just avoid those adults-only spots
You won’t have any problems with your kid during your travels as long as you keep them engaged and entertained. Since you are traveling with a kid, don’t be selfish and go on a vacation that only an adult would enjoy. There are several child-friendly travel spots and destinations around the world.

“My Partner Doesn’t Like to Travel”

Look here, friend. You are responsible for your own happiness. To postpone your life because the person you are with right now doesn’t want to do the things you want to do is doing both you and your partner a great disservice. 
See, when you do what you love, you become happier. When you become happier, you gift your lover a better partner to spend time with.

“Someday, I’ll Get Around to It”

It’s hard to escape the Someday I’ll Island. The island is surrounded by the greatest excuses that have ever been conjured by the greatest procrastinators to ever grace the island. 
The more you stay in the island, the harder it becomes to leave. Your only hope of escaping is to break the spell that has been cast upon you. How do you break the spell? You take action today and book a flight instead of hoping that someday you’ll get around to doing it.