What Is The Cheapest Car Insurance

February 26, 2013, by No comments yet

what is the cheapest car insuranceMy recent move to a more desirable neighborhood and reduction in my car insurance premium motivated me to write this post about what is the cheapest car insurance. It is vital for people to search for places to save some money in this tough economic market. These tough times have caused leading car insurance companies to compete a lot more for your business and loyalty.

So, what is the cheapest car insurance? Let’s explore some critical tips on how you will find the answer to what is the cheapest car insurance…

Let me start off by saying that the company that may be the cheapest for my wallet may not necessarily be what is the cheapest car insurance for your wallet. Companies have various criteria when determining what premium they will charge a customer. For example, if company ‘X’ values so-called “safe neighborhoods” due to them having lower property crime rates and I live in one, however, you live in a non desirable neighborhood, then all other things being equal, you will pay more than I will for car insurance.

On the contrary, if they value economy vehicles more than anything and you have a nice Prius, well my BMW (yes I love my ultimate driving machine) will yield a higher premium for me than your premium. This is why it is vital to shop around and call for different quotes.

how to find cheap car insuranceHere is what ALL car companies consider when making their decision on your premium…It will help determine what is the cheapest car insurance.

1) Driving record. I realize this may be common sense to most but I still should mention it. If you have a terrible driving record then you need to find out exactly when the driving violations will be off your record. Once they are, you need to call companies and shop around again.

2) Your drive to work. The further you drive, the more premium you will pay. If you commute far for work, consider taking alternative methods of transportation such as the train.

3) The neighborhood in which you reside in. As I previously stated, my recent move saved me on car insurance because my car insurance company determined it was a nicer neighborhood with almost no crime (they finally had their first homicide in 8 years!) and virtually no property crimes.

4) Pay for the premium on an annual basis not monthly or semi-annual. Of course, you may not be able to afford it all up front. If not, you can lower your auto insurance rate by finding out if they waive the finance charges if you enroll in auto pay. Several car insurance companies allow it.

5) Have more than one car? Having both vehicles with the same company will allow you to take advantage of a multiple care discount.

6) Do you own a home? Consider adding your home owner’s insurance policy with the same car insurance company as many offer additional insurance services.

7) I believe in having roadside assistance, however, shopping around for this may benefit you. In fact, some credit card companies offer it for free if you are a member.

8) In your search for what is the cheapest car insurance for you, make certain you ask what type of discount they offer if you happen to be affiliated with their member directory.

9) Install additional safety measures such as an anti-theft device and air bags (some older model vehicles do not have them). Also consider parking the vehicle in a garage or gated parking spot.

10) Clean up your credit and try to have a higher credit score. Unfortunately car insurance companies use your credit score as a factor in your premium.

11) If you are really cash poor, consider raising the deductible to lower the monthly payment.

12) Are you a good student? Many car insurance companies that offer the cheapest car insurance rates offer great good student discounts. Often time they will not mention it unless you ask.

Overall, if you do your due diligence you will definitely be able to determine what is the cheapest car insurance for you. Take your time as this is one of those things you should shop around for.

Buy and Hold Strategy

February 17, 2013, by 2 comments

imageA major consideration in finance and real estate that comes up and must be addressed is the buy and hold strategy. There is the buy and hold strategy or the buy, fix and sell quick “flip” strategy. Many new investors do not think about whether or not they will buy and hold the property for passive income or to sell it for profit. Here are some things  to take into consideration to determine if the buy and hold strategy works best for you.

The most important factor to note is whether the numbers reflect a positive cash flow (before tax advantage). If the property is not earning a positive cash flow, it cannot be taken into consideration for a buy and hold strategy.

You have to consider what type of real estate you want to invest in by determining what your goals are and taking into consideration what cash you have to invest. As I have stated before, I am a firm believer that apartment buildings (particularly commercial) are the better investment to spread the risk of rental income loss if a single tenant moves out. If you have a lot of cash at your disposal, a buy, fix and sell quick strategy may help you build even more capital faster for your ultimate buy and hold real estate.

Appreciation, buyers market, sellers market, and practically any other market fluctuations do not matter with the buy and hold strategy.

The buy and hold strategy may not yield the highest ROI (return on investment) initially or in the short-term, however, in the long run it will be the best form of passive income to allow an investor who has set up multiple passive income streams the opportunity to retire and live off of the passive income.

The most important consideration in any real estate strategy, whether it is the buy and flip or buy and hold strategy is to value the property correctly. Some real estate investors go so far as to state that you make the money when you purchase the property and this is definitely true in most cases.

imageFinally, what I can say has worked for me is the buy and hold strategy. I make certain that the numbers make sense. What I mean is that I do not overpay for the property, there is usually some form of built-in equity, there is positive cash flow that at minimum yields a 10% return on my initial investment and I make certain the property is desirable to the point that I will have very low turnover. If you do this and rinse and repeat, you will build multiple passive income streams and literally make money in your sleep :)

How Should You Manage Your Finances While Consolidating Your Credit Card Bills?

June 14, 2012, by 8 comments

The following is a guest post by Grace Ruskin who is a financial writer and is associated with DebtCC Community. She provides Information on debt related issues and has also written many articles on topics related to finance. She also offers several easy solutions to individuals with financial problems. You can reach her @ grace.ruskin@gmail.com Thank you very much for the great post! :)

Were you practicing the habit of whipping your plastics for making every little purchase? If answered yes, you should have incurred a huge amount of debt on all the cards. Are your accounts being turned down to the collection agencies? If answered yes, you need not fret as there are ways in which you can get out of it and also protect your credit score. Among the professional debt relief options, bill consolidation is perhaps the best way in which you can repay your debts affordably and also protect your credit score in the long run. However, backsliding into the old financial habits may not lead to a successful debt consolidation.

 

What is a debt consolidation loan?

If you’re someone who is not familiar with a debt consolidation, you should be aware of the fact that this is a master loan that is lent by banks and financial institutions and that help you combine your multiple payments into this loan. As soon as you take out the loan, you can utilize the proceeds in repaying your original creditors. Once you repay your creditors, you have to start repaying the debt consolidation loan in easy and affordable monthly payments. The interest rate will be low enough and the monthly payments will also be revised thereby helping you save your dollars. You have to write a single check to the debt consolidation loan instead of making multiple payments to multiple creditors. This option is certainly a better one than the other debt relief options as you can handle your own debts on your own without having to pay any extra finance charges.

Debt consolidation is not a symptomatic relief – Some money management tips to follow

Here are the ways in which you should manage your finances when you consolidate your credit card bills.

  • Follow a budget: While you take out a bill consolidation loan in order to combine your unsecured credit card debts, you should follow a frugal budget so that you may know where your pennies are going every month. As you have to keep aside money to make the payment towards the debt consolidation loan, you need to make sure that you follow a budget that eliminates all the unnecessary expenses from your list. You should try to distinguish between needs and wants so that you may concentrate on spending your dollars on the needs and not on the wants.
  • Stop using your credit cards: Remember that a bill consolidation loan is not the ultimate solution to your debt woes; it is just a way to reduce your debts and stay on the right financial track. You should restrict the credit card usage so that you don’t incur further debts while you’re already trying to repay your credit card debts through the debt consolidation loan. Use cash instead of credit.
  • Remember the due dates: When it comes to bill consolidation, you should remember the due dates so that the entire deal doesn’t get cancelled. Make a note of the due date on which you have to make a single monthly payment so that you don’t hurt your credit score or nullify the agreement.

Therefore, when you want to ensure that you lead a debt free life, you should repay your credit card debts through a bill consolidation loan. Bill consolidation will only provide you with a symptomatic relief and therefore you should take all the necessary steps that can pull you out of the debt burden.