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5 mistakes to avoid when buying life insurance
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5 mistakes to avoid when buying life insurance

Life insurance enables individuals to cover their family members against financial risks that may arise in the future. So, one must not overlook its purchase. If one can afford it, they could consider picking a policy with a higher coverage. Moreover, there are several errors that one could make when buying a life insurance policy, which could result in limited benefits for their family. Here are five such mistakes to avoid. Focusing only on the premium amount Several buyers pay attention only on the premium amount they are supposed to pay instead of looking into more about the coverage and its terms. Doing so could result in buying a policy that is insufficient for meeting the requirements of the policyholder’s family. So, one must consider factors such as future goals, children’s education fees, and inflation instead of only focusing on the premium. Relying on the employer’s insurance coverage Employers generally offer a basic level of life insurance coverage. So, one must not completely rely on it for protection and should consider getting supplemental life insurance. Moreover, one may be able to secure a reduced premium rate when they opt for the life insurance provider associated with their employer for standard coverage.
Top 5 bad credit card habits to break
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Top 5 bad credit card habits to break

Credit cards are great for transactions, as they can help build credit and help one get many benefits through the credit card company. However, many are unaware of their benefits and end up making some mistakes while using their cards. Here are some of the credit card habits one should avoid to help keep any extra costs at bay and steer clear of credit card debt and massive interest rates: 1. Making minimum payments This is something many consumers do. As soon as the credit card bill comes, they tend to ignore the full payment request and instead just pay the minimum amount due. While this is acceptable to credit card companies, it harms the consumer’s credit score, and it also adds a huge interest rate to the bill in the next cycle. It can take years to pay off credit card debt if the bill is not paid in full to the company. 2. Neglecting bill statements Always check the billing statement thoroughly. It is advised to go through the payments mentioned to make sure they are legitimate payments made by the consumer. If there is a discrepancy, report it immediately. Any fraudulent activity can be traced through these statements.
3 ways individuals can benefit from debt relief programs
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3 ways individuals can benefit from debt relief programs

Navigating the complexities of debt can be an arduous journey. Thankfully, there are a few ways to exit the debt trap. Debt relief programs, for instance, are a helpful solution where individuals hire a debt relief company to strategize debt repayment. The company offers many benefits to borrowers, like negotiating debt amounts, extending repayment periods, and lowering interest rates. It also ensures lenders recoup at least a part of their loan amount. How can one benefit from a debt relief program? When debt-ridden individuals enroll in a debt relief program, the designated company provides them with financial counseling. This counseling helps them reorganize their finances in a way that makes it easier for them to repay their debts. Here’s how debt relief programs can benefit an individual: Debt consolidation It involves securing a new debt with a lower interest rate and using that amount to settle multiple other debts. Debt consolidation results in more affordable monthly payments. Some companies provide this service exclusively to those with smaller debts. In recent times, applying for debt consolidation programs has become easier at reputable companies because of their user-friendly websites. Debt settlement Debt settlement aims to settle debts through a single lump-sum payment.
5 tax break opportunities to maximize savings in 2024
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5 tax break opportunities to maximize savings in 2024

As this year’s tax filing season approaches, understanding tax deductions and leveraging tax benefits can significantly help individuals save money for specific purposes. The government offers various tax breaks to citizens, which are categorized based on different factors to offer a valuable opportunity for financial relief. To make the most of these tax benefits, individuals must be aware of the tax breaks that are available during the ongoing financial year.   Child and Dependent Care Credit The Child and Dependent Care Credit (CDCC) covers a specific portion of daycare and other costs for children under 13. It also partially covers the expenses incurred for a parent, spouse, or any other dependent who cannot care for oneself. Usually, the coverage is applicable for 35% of $3,000 of expenses incurred in caring for one dependent and $6,000 if two or more dependents are involved. Lifetime learning credit The lifetime learning credit enables one to claim 20% of the first installment of $10,000 one pays for their fees and tuition. The maximum amount that may be claimed through this initiative is $2,000. Other expenses, such as conveyance and accommodation, are not included. Child tax credit The child tax credit allows parents to claim up to $2,000 for each child, with $1,700 of this amount being potentially refundable.
5 mistakes to avoid while paying off debt
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5 mistakes to avoid while paying off debt

Climbing out of financial debt does not have to be difficult if one handles their resources and spending well. To do this, it is important to set realistic goals and expectations while also ensuring that they align with the current financial situation. Some mistakes, however, can complicate and prolong the debt repayment process. Here are five such mistakes to avoid so that one can achieve financial freedom sooner rather than later: 1. Not adjusting expenses One way to lower the ratio of debt to savings is to change spending habits. For example, one can consider preparing food at home rather than dining out, using cash instead of credit cards, avoiding unnecessary expenses, or splitting rent. While these changes may seem insignificant, they can help speed up debt repayment. 2. Tampering with the retirement plan Some retirement plans like 401(k) allow investors to withdraw money prematurely from the account. This might tempt one to use this money to pay off debt, but it is not a wise move. Early withdrawals come with penalties, and the purpose of the account is to secure life after retirement. Further, the investment here grows steadily, so the longer the money stays in the account, the better the returns.
3 mistakes to avoid when opening a savings account
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3 mistakes to avoid when opening a savings account

A lot of hard work goes into saving money. It takes extensive planning, budgeting, and mindful spending. So, it is crucial that people put their money in the right savings account. Having a savings account is a great way of earning interest and moving faster towards one’s financial goal. However, people tend to make mistakes when selecting a savings account. Here are three mistakes to avoid while opening a savings account. Not shopping around It is always necessary to shop around for the kind of interest, perks, and security each bank or other financial organization has to offer. Avoid investing in the first one that catches the eye. Compare multiple savings accounts from different places to arrive at the right choice. Also, keep an eye on the fees, customer service, accessibility, interest rate, and any additional benefits. This research can go a long way in helping make the right decision. Only focusing on the interest There are times when people select a savings account that comes with an attractive interest rate. But later on, it could cost them in terms of fees for the account. While some savings accounts demand a one-time fee, others come with the caveat of an annual charge.
4 common mistakes to avoid with a debit card
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4 common mistakes to avoid with a debit card

Debit cards are a common and convenient form of payment. They are a hassle-free and stress-free payment method and do not require loans or credits. People who are not fond of digital transactions can turn to debit cards for their needs. But before going down that path, it is essential to learn about the safe practices of using a debit card. One should avoid these common debit card mistakes for safe use. 1. Failing to check hidden fees Debit cards are associated with an existing bank account and usually do not carry any fees. However, some banks might add annual fees to the discussion. People need to ensure that the card they select does not carry any additional charges. Thoroughly read any paperwork before signing up for the card, and ensure no other hidden terms or fees exist. 2. Not having a plan Make sure to plan out expenses. Try segregating purchases and expenses based on the perks of using a debit card. People with more than one debit card can find this rewarding, as it can maximize their savings and rewards. For instance, customers planning to make a substantial purchase that they may have to return, should use credit cards instead of debit cards.
3 common payroll errors to avoid
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3 common payroll errors to avoid

When it comes to receiving their salary, no employee wants to take risks. A single day’s delay can negatively impact the relationship between an individual and their employer. Thus, it is vital for business owners to avoid any payroll-related errors, as a single mistake can adversely affect the organization. Small businesses are more prone to such errors since they lack staff and software. So, here are three payroll errors to avoid for smooth operations. Incorrect employee classification People added to an organization’s payroll do not necessarily all belong to the same criteria. There is a chance that some individuals are contractors and some salaried employees. Despite most organizations having primarily salaried employees, not categorizing and listing the types and classification can get tricky. These nuanced details can later lead to prolonged procedures and the possibility of legal issues. Thus, business owners should carefully review the laws and guidelines while filling out the payroll details. If uncertain, they must seek advice from experts and speak to an attorney if needed. Not calculating overtime This is not just about simply forgetting to calculate the overtime, which is also a fairly common error. If there are miscalculations in calculating overtime, it can take weeks or even months for the issue to be rectified.
Know about the insurance benefits for disabled
finance

Know about the insurance benefits for disabled

Insurance is a financial cushion that every individual must explore to secure the financial future of themselves and their dependents. In some cases, people living with disabilities face unique challenges and uncertainties. They may benefit even more from insurance, especially the ones that have tailored options for disability. These insurance plans help eliminate financial burdens and provide essential support. Here are some of the benefits that one should be aware of: What is considered a disability? Since disability can affect one’s earning capability, disability insurance is more or less a partial replacement for one’s income that can cover daily necessary expenses. In insurance, a disability can be any impairment from birth or caused by injury or illness, encompassing both mental and physical. To qualify for life insurance, however, the condition should not directly affect one’s life expectancy. Similarly, anxiety or PTSD can also affect one’s insurance rate. Insurance benefits for disabled Government-sponsored insurance Individuals with disabilities qualify for two types of government insurance. First is the Social Security Disability Insurance (SSDI), which covers working individuals who are no longer able to do so because of their disability and provides them with monthly payments. Second is Supplemental Security Income (SSI), which works as per individual needs.
7 tips to help seniors choose the best life insurance
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7 tips to help seniors choose the best life insurance

Life insurance plans are a great way of protecting one’s loved ones against unforeseen circumstances. However, there is no one-size-fits-all policy, and finding the “best” option requires making an effort. From overall health to long-term goals, there are many things to consider before investing in life insurance. To make the journey a little bit simpler for seniors, this article shares tips and advice on choosing the best life insurance plan. Set a budget Seniors should find a life insurance policy that falls within their budget. One can begin by shortlisting affordable options and then analyze the coverage they offer. Work with a goal A life insurance plan helps one get closer to their financial goals. Some may want a plan that helps pay off debts, while others may want insurance that covers end-of-life expenses. Seniors should consider these needs before finalizing a policy. Look for customizations Add-ons can help customize the insurance plan. Some popular add-ons include long-term care, accelerated death benefits, and enhanced coverage. Find a convertible policy There are different kinds of life insurance. Some may want a convertible policy, like one that can be converted from term life insurance to permanent life insurance. Assess current lifestyle When buying a term insurance policy, seniors should take some time to think about their family’s lifestyle and spending habits.

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A look at some of the best free investment advisors
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A look at some of the best free investment advisors

As a beginner investor, investing too much money at the start can be quite difficult and overwhelming. However, if you choose the right brokerage account, you can earn a lot back from it in terms of investment knowledge. So if you are looking for the best cost-free investment advisors to provide you with long-term portfolio management services, then you have come to the right place. Here is our collated list: Interactive Brokers Investment Brokers has an entity known as IBKR Lite, which offers commission-free trading on various commodities. It mainly covers exchange-listed stocks as well as exchange-traded funds (ETFs). It also offers low-priced access to various global markets without any account minimum or inactivity fee. Additionally, it offers the best competitive interest rates, while its client portal, which offers trading and account management services, is highly preferred by users. One of the most notable points is that IBKR Lite has been around for over 40 years, having earned the trust of a vast client base. You Invest by JP Morgan Chase You Invest Trade, offered by JP Morgan Chase, is one of the best low-cost investment advisors. It is complete with a range of commission-free ETFs and stocks that can be traded online.
Reverse mortgage eligibility and its criteria
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Reverse mortgage eligibility and its criteria

As you approach retirement, most of your money has been invested in your home. A reverse mortgage is an excellent way to tap into your home’s equity. If you have paid off a home loan or have only a small amount to be paid, it is a good option to meet various financial goals. Here are the criteria for reverse mortgage eligibility: Personal criteria Age You must be 62 years or older, to apply for a reverse mortgage. Generally, as you grow older the Home Equity Conversion Mortgage (HECM) amount increases. Property The home should be your primary residence, and you need to live there for the entire duration of the reverse mortgage. Rental properties and vacation homes do not qualify for such mortgages. Home equity You should be the owner of your home outright or possess a minimum of 50% home equity. There is a possibility that you may qualify for a reverse mortgage despite having some outstanding balance on your existing home loan. However, the criterion is that you must first pay off the remaining mortgage from the sanctioned amount and meet other liens. The balance funds may be used for any other purpose. Using a reverse mortgage to refinance existing debt is beneficial in reducing your monthly cash outflows.
Top 10 debt settlement companies to consider
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Top 10 debt settlement companies to consider

A lot of people get stuck in debt due to many reasons. The interest rates keep adding up, taking a toll on an individual’s financial stability. In such a case, debt settlement can be quite helpful if you wish to settle a large amount. Here is a list of top 10 debt settlement companies that you can consider to help ease the burden off your shoulders. National Debt Relief National Debt Relief has the most detailed insights on their website that can help you with debt settlement. It talks about the debt qualification, the amount of money you need to pay for enrolments as well as the debt relief services that they offer. The average savings after the fees is around 30%. CreditAssociates This particular company is known for helping clients with the elimination of debt. They undertake this entire process between twenty-four to thirty-six months. They use enhanced software, and the outstanding expertise of their team to help their clients with great debt negotiation services. Pacific Debt Inc This is one of the top 10 debt settlement companies that you can consider. You need to have a minimum of $10,000 in debt to avail their services. They offer an affordable monthly program/plan with payment as well as upfront fees.
6 top business credit card companies
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6 top business credit card companies

The right business credit card can help you save thousands of dollars. Business accounts can earn more rewards like discounts, hotel stays, and cashback offers. You may also use these cards to meet short-term financial requirements. In case you haven’t applied for one yet, you must check out 6 of the top business credit cards that you can apply for to make your life easier. American Express Blue Business® Plus Card This is an ideal business credit card offered by one of the leading credit card companies and does not levy any annual fees. You receive twice the Membership Reward ® points upto $50,000 with no category restrictions, which reduces to 1% thereafter. The cashback earned automatically gets credited in your statement. The regular APR on this card is 13.24% to 19.24% variable. CitiBusiness® AAdvantage® Platinum Select ® MasterCard® This is an excellent option if you undertake frequent business travel with American Airlines. You earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases. Additionally, the card offers 2 AAdvantage® miles for every dollar spent on telecommunications, fuel, car rental, and cable and satellite services. All other purchases earn you one mile for every dollar spent. The annual fee is $99 (waived in the first year) and regular APR varies between 15.99% and 24.99%.
Top 6 NNN properties for sale in the country
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Top 6 NNN properties for sale in the country

NNN properties are known as triple net lease properties and can be categorized as single-tenant properties that are available for lease. In these properties, the maintenance fees, taxes, and insurance have to be paid by the lessee instead of the landlord. These costs have to be borne by the lessee in addition to the rent. Here are some of the top NNN properties for sale: 7-Eleven, Texas There are plenty of 7-Eleven properties that come under the category of NNN properties. This one is our top pick at the moment, as it serves two commodities that are always in demand: gas and foods. The property is on the 3601 West Freeway in Fort Worth, Texas, making it quite a hot spot for sale. The current annual rent for this property is $267,500, while the cap rate is 5.75%. Burger King, Florida Burger King is one of the country’s favorite fast-food chains. The current annual rent for this property is about $140,000, and the cap rate is 5.15%. This property was built quite recently as compared to the other options on our list, and it has the potential of providing good returns quickly, as it is in a strategic location on SW Port St.

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6 high dividend ETF funds you can invest in
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6 high dividend ETF funds you can invest in

Before you search for the best dividend exchange-traded funds (ETFs), it is recommended you understand your needs and overall investment objectives. ETFs are hybrids of mutual funds and stocks. When you invest in the ETF, you purchase shares in the fund, which buys the underlying asset. Here are six of the best high-dividend ETF funds: Vanguard High Dividend Yield (VYM) This ETF adopts the simple method of choosing stocks that have higher dividend yield when compared to other companies. This has resulted in building a diversified portfolio comprising 400 stocks with higher market capitalization. The majority of these stocks belong to the healthcare, consumer, and financial sectors. During the last decade, VYM delivered average annual returns of 12.9%. The expense ratio is the lowest in the industry at 0.06% per annum. Vanguard Dividend Appreciation (VIG) The ETF focuses on investing in companies that have a long history of increasing their dividend payouts over the years. The portfolio includes approximately 180 stocks with low yields. The ETF has earned average returns of 12.6% per year over the last 10 years. The expense ratio is 0.06%, which makes it an excellent option if you do not mind lower dividend returns currently but want to earn more in the future.
Top 5 providers for automated investments
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Top 5 providers for automated investments

Roboadvisors are gaining popularity as these investment programs offer affordable financial advice to a large number of investors. These automated advisors use an algorithm to recommend investment options that best suit your requirements. The best automated investing algorithms offer simple account setup, portfolio management, low fees, strong goal planning, and security. Here are the top five providers of automated investments. Betterment This roboadvisor is the best for delivering top-quality services. You may sync various financial accounts without investing to gain an overall picture of your investment portfolio. You may choose the pre-built Betterment portfolios or customize one to meet your needs. The algorithm gives you the flexibility to add new goals as required while monitoring your progress without any difficulties. The advisor charges between 0.25% and 0.4% management fees with no minimum account requirement. Wealthfront It is one of the largest Robo-advisors and provides goal-based investing enabling you to understand the future effects of your financial decisions. You may choose from a wide range of portfolios that comprise individual stocks to meet your financial goals. Once your portfolio accumulates USD 25,000, Wealthfront allows you to borrow against its value. The service provider also offers margin lending. The management fee for most accounts is 0.25% and you need an account minimum of USD 500.
Top 5 retirement investment funds for your portfolio
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Top 5 retirement investment funds for your portfolio

Most people work for decades so that they can make investments and collect sufficient funds for their retirement years. Having enough savings for the golden years is ideally the most significant goal for you as an investor, but the volatile market may make it difficult to understand which retirement funds are suitable for you. To help you out, here are the best retirement investments that you can include in your portfolio: Vanguard Target Retirement 2035 Fund This retirement fund is created for investors who want to retire early so that they can enjoy the benefits of their investment within 15 years. However, even if you don’t want to retire that early, this fund has various offerings that make it one of the best retirement investments available in the market. As of now, this retirement fund offers a current yield of over 2%, and the expense ratio is 0.14%. Plus, Vanguard is quite a trusted name for keeping your money safe. Northern Global Tactical Asset Allocation Fund This fund offers one of the best diversifications and a lot more protection in case the fund underperforms. So, it invests in mutual funds and exchange-traded funds and aims to provide long-term capital appreciation at an expense ratio of 0.58%.
Top 5 capital providers for your business
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Top 5 capital providers for your business

People who wish to set up their business ventures need additional funding to get going. Many banks and financial institutions help promising businesses with the same and in this article, we would be covering guaranteed business loan providers. You can check the following list out when looking for business loan providers. Wells Fargo Wells Fargo is one of the best financial institutions when it comes to guaranteed business loan providers in the market. It offers various other financial products. It claims to be a leader when it comes to small business loans. The unsecured business loan has varied loan amounts starting from $10,000 and going up to $100,000. The term for this product is between one to five years. Additionally, you can go for other loans offered by Wells Fargo, such as the Equipment Express Loan or the Advancing Term Loan. Capital One Capital One does not only offer good deals on business credit cards, its business loan is worth considering too. If you are looking at a funding source that can help expand your business or get going with the operations, then we highly recommend you to choose the business loan offered by Capital One. Starting at a minimal amount of $10,000 and a maximum term length of 5 years, the repayment term is simple and can be done on a monthly basis.
All you need to know about home insurance policy
finance

All you need to know about home insurance policy

Buying a home comes with a lot of responsibilities. There are a lot of risks that come with owning a home like the risk of theft and property damage. Investing in the right kind of home insurance policy is important so as to be financially prepared for these risks. There are several different companies in the market that offer home insurance policies with different kinds of terms and coverages. Remember the following points before choosing a home insurance policy. Explore your options As mentioned earlier, there is a wide variety of home insurance policies available to homeowners at this time. When selecting one, it is important to consider factors like what potential risks are being covered in the policy. It is also important to consider the company’s record in your area, whether they are reliable as insurance providers, and their response time. Ask about discounts Home insurance policy in 2021 offers additional services and discounts. They may offer discounts on additional safety installment services such as installing an alarm system, smoke alarm, or better locks. There may also be certain offers for old and retired personnel as well as some discounts for policies when taken via your employer’s or organization’s reference.
5 technologies revolutionizing financial services
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5 technologies revolutionizing financial services

For any industry to sustain itself in today’s world, implementing digital strategies has become indispensable. This holds particularly true for the financial services industry. The good news is that digital transformation in financial services has already begun, and we’ll likely see more and more innovative technologies underpinning banking and financial institutions in the coming years. Keep reading to learn about the latest digital transformation trends in the financial services industry. Big data and artificial intelligence The combination of big data and artificial intelligence is a revolutionary digital strategy that is shaping the future of banking and financial services. The technology helps institutions process, store, and drive valuable insights from the data they gather from their customers’ activities. Big data and artificial intelligence allow institutions to create a highly personalized experience, helping businesses attract and retain customers. Blockchain Blockchain is a fairly new technology that is becoming increasingly popular in the financial services industry. With blockchain technology, all transactions are permanently stored in the blockchain network, providing the highest level of transparency and security. Nobody can tamper with these transactions, which nearly eliminates the risk of error and fraud. Besides security, the technology is being explored for use in a wide variety of banking and investment applications.