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Archive for the ‘Money’ Category

Nov-28-08

Unpredictable

posted by constance

In my grandparents’ time, it was taboo to mention the word insurance. Not sure if it was culture influence but the mention of it and topics around it meant that you are playing with death wishes before one comes to an old age. So many people would just leave the thought alone. Perhaps that is why those who made claims from matured policies then are not a many as current years.

Some parents who had enough money and had bought their kids policies in those days are seeing their fruits of labour now. The money from maturing policies help to send the kids to universities or help when they were caught in a spot of emergencies that needed some cash for medical and others.

Lately, there has been many who are troubled by the current economy crisis. This is a global issue. Some of the policy holders have decided to surrender their policies before it is matured, preferring to hold on to cash than leave it to the end of maturity. Those are because the policies they bought are intended for a nest egg purpose.

A cheaper policy does not mean any less better. It has a different benefits. It is important to understand that  term life insurance rates are reasonably affordable and give you a peace of mind for an unpredictable event. We buy insurance so that in the event of anything that happens, our family is not left in the lurch to cope with stress and yet defend for themselves.

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Nov-26-08

Middlemen Services

posted by constance

With the current economy slump, many people are defaulting on their loans and mortgage so it is no surprise to have banks or financial institutions chasing after these debters. Compared to those loan sharks, collecting payments are conducted in a more peaceful manner without any threats, violence, haggling and all that noise. Defaulters should always negotiate with the banks if they find themselves in a spot paying up loans. It works both ways too. Banks do not engage their own employees to collect from these debters. As a matter of fact they engage the services of debt collection agencies for a small fee to help them collect any checks or monies due. Some landlord renting out apartments also do that too. It makes sense for a little bit of convenience and for others, stay anonymous.

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Aug-18-08

Payment Due

posted by constance

I can’t believe how time flies. We are aging year after year. Lots of changes in the buildings, technology, and increased of prices for all food stuff and products. We see the days and months just whizzed by us. I always thought I could buy time to save up for things, holidays and more shopping. But my bills are coming in fast and furious. Before I knew it, my car insurance company is billing me again! These are the kind of payments that sometimes I had not put aside for months, and suddenly it is right in your hands. Guess I have to dig it out from some savings or else I won’t be able to get any road tax renewal done when the time comes. My car is getting older so I shan’t want to spend too much on car insurance. Perhaps the most basic package plan is sufficient. There’s about  a few years more before I have to scrap it into that Milo Tin.

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Jun-6-08

Pay Up Your Credit Cards with Low Interest

posted by constance

I received a call from my bank yesterday. The customer service on the phone had offered me to do a balance transfer credit card service for whatever remaining amount I owe. I had a good look at my statement. I don’t really owe a lot of money using my credit card recently. The only big sum I last paid was my insurance for my car and for this I used a 6 month free interest payment plan. The other amount was only for the tyres I bought for the car. That I would be settling it by middle of this month. The customer service officer then suggested I take advantage of the low interest by banking in an amount into my savings bank for shopping if I do need it and pay it off within 6 months. I am still considering.. It is an attractive offer though, but do i need it?

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May-24-08

Get Into The Habit of Saving

posted by constance

When I was young, my parents taught me to start saving for a rainy day. The concept did not really sink in deep until when I started working or had just completed my studies. As a young child, it was really just going through the motion of going to the bank and watch your money in savings accounts grow as you add another number to your age. At work in my twenties, I enforced savings by opting for a fixed savings plan each month. Now that my girls are getting school allowance from me, I  am trying to instill this good habit of savings to my girls.

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May-10-08

Insurance Is No Taboo Subject Anymore

posted by constance

In the old days, insurance were thought of as taboo subjects as it is bringing the topic of death into the family. However, many failed to realised that it is basically the same as retirement funds that one can feel secure at old age. Since the millennium age, it has been something that has become a must have for most parents to their kids.

When my daughter was a year old, we thought about her future and education. We wanted to make sure we provide her with the best education if she would be able to take it through to the university be it locally or abroad. Our financial adviser had adviced us to get a child life insurance for a financial head start. We had thought about it long and hard and made some comparisons. An insurer at a younger age can reap more benefits and more cash value if he or she is able to continue it till his retirement age.

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May-10-08

Live In Your Own Home for Money

posted by constance

Lately I read in the papers that our government advised many of those in the retirement age to consider reverse mortgage on their homes, that have been fully paid up. It helps those who have the property but no cash on hand to opt for this method as a form of retirement fund. It is similar to getting cash and yet get the benefits of living in your own home. Most mortgage lenders will access the value of your home and age first. I think this is a great method since there are some who may be property rich but do not have money for expenditure. It is also a hassle to be renting out your home and moving out.

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