50 Plus Finance

Tuesday, October 2, 2012

7 Ways Seniors Can Keep Their Car Insurance Affordable

With the cost of car insurance rising each and every year, it is no wonder that car owners have been looking for ways to make their insurance more affordable. No group of car owners, however, has been hit by rising insurance premiums as much as seniors.

This sector of the population generally has low incomes but high car insurance costs, especially if one has not built up a good driving record over the years. Follow these tips to keep your car insurance premiums as low as possible for years to come.

1) Keep out of trouble!

The best way for anybody, not just seniors, to keep car insurance premiums low is to ensure that your driving record is clean and you never get into any at-fault accidents. Your insurance company is bound to get wind of any problems with your driving record at some point, so keeping out of trouble is the best policy.

2) Take a defensive driving course

Aside from the obvious benefits of showing you how to control your car effectively, many insurance companies provide discounts to drivers who take defensive driving courses.

3) Find a senior citizen insurer

Some insurance companies specialize in providing cover to senior citizens, and these companies might be a little more forgiving of previous misdeeds on the road, especially if such incidents occurred decades ago.

4) Drive less and ask your insurer for a discount

Many seniors do not use their cars very much. Often, a senior citizen's car is only used for short drives down to the shops or to visit family. Some insurance companies provide discounts to people who use their car very little, as a reflection of the sharply decreased risk involved by driving occasionally.

It is well worth speaking to your current insurer to see whether any such offers exist, and if not, consider switching insurance companies.

5) Keep up to date with medical checks

Insurance companies just love to see medical reports come in outlining issues with vision, as this is a great excuse for them to hike their premiums. If you detect issues with your vision, it may be worth your while to visit an optometrist to see whether corrective lenses can be worn to ensure that while on the road, these vision problems will have no impact on your ability to drive safely.

This not only looks good to an insurance company, but it also helps to keep you safe while on the road.

6) Switch insurance companies

Many seniors do not have access to the Internet, and hence do not 'shop around' to get the best rates on their car insurance. It is a good idea to shop around, so if you do not know anybody willing to source quotations for you, get out your copy of the White Pages and start calling around.

7) Stop driving.

Many seniors use their cars so infrequently that it may be cheaper to get rid of the car altogether and just take cabs whenever transport is needed. Often, the cost in cab fares that will be incurred by not driving will be less than the yearly insurance premium.

Author Bio: Anna Peterson works for InsurancePanda.com a company that provides numerous quotes to compare.

Monday, October 1, 2012

4 Ways to Make Money with Certificates Of Deposit

Certificate of Deposit is the safest and the surest way to earn money by way of investment. It offers you more interest than the savings account and is devoid of the risks involved in stocks. You can open the Certificate of Deposit in any bank or financial institution of your choice. Given below are 4 ways in which you can earn money with Certificates of Deposit -
Invest In A Long Term CD

The easiest way to ensure that you earn money from your certificate of deposit is to invest in a long term CD than a short term one. CDs will require you to keep your money for certain duration before you can withdraw from it. This period can vary between six months to five years. It is known that the CD, which is valid for a longer period of time, earns you high CD interest rates than a CD that is valid for a few days or months. For example, a six-month CD can give you 3% interest as compared to a 5 year CD that gives you 5% interest.
High Yield CDs Are Not Always Beneficial

The U.S Exchange Commission warns investors from being influenced by CDs that have a high yield. Also, be wary of CDs that have variable interest rates. These CDs usually depend on the stock market and this can affect how much you earn from the Certificate of Deposit. CDs with low rates of interest usually have less risk since they do not depend on the financial market.

You should also make sure if your CD has a call feature. The banks terminate CDs with call features when the financial market dips and this can stop you from earning the full potential of the CD. This feature is usually present in high yielding CDs.
Let Your CD Mature

You should never withdraw from your CD before it matures if you want to earn from it. Access it only to withdraw money after its maturity. If you withdraw money from the CD before it matures, you may end up losing interest earned in the prior months. If you haven’t earned enough interest to pay the penalty, the bank will then deduct the amount from your principal. Thus, you end up losing more than what you would have earned.
Be Clear About How You Will Earn The Interest

When you open a certificate of deposit, the bank will give you a disclosure document that will state the features of your CD, the rate of interest that you would earn and how you will receive the payment. It is better to have the interest amount electronically transferred to your bank account rather than opting to receive a cheque.

If you want to earn money from the CD, keep in mind that it is best to invest in long-term schemes and not to touch your CD before it matures. Be clear about the rates you earn and the mode of payment.

Sunday, September 30, 2012

5 Ways to Make Money Online

Computer feestje (Photo credit: arneheijenga)

Being older and on a fixed income is no fun. These are difficult economic times for everyone, but it is possible for industrious people to make money right from their own homes through the Internet.

A computer and a connection are the only required tools to get started, and you may even be able to manage without those if you can start small at a local library or a friend's house. All you need to do is think about the opportunities available to you online and decide which is best for you.

1. Writing - One of the most common ways to make money online is to write for a site that offers compensation for its writers. Some pay per articles, while others pay a share of advertising revenue. If you can find several sites that pay, you will have a place to write for even if one of them goes dry.

2. Editing - With all the writing online, many sites are in need of good editors. If you have a strong grasp of grammar, your services could be valuable and compensated as such.

3. Selling - If you have old items lying around the house collecting dust, you could make money off them by selling them at an online auction site or used goods store. Moreover, if you have artistic talent, you can make crafts and artwork and sell them online.

4. Services - If you have a special skill that you can offer, why not advertise it online and see if people might have a need for it? You can restrict yourself to local parties if you are doing something like yard work; if it's something that can be done from a distance, you have countless potential clients to choose from.

5. Blog - You don't have to be a writer to blog. You can show off photography, artwork or music, whatever it is that you enjoy. Once you put ads alongside your entries, you will be able to earn money on every one of them if enough people click through.

As you can see, the Internet is full of ways to earn some extra cash. While making a boatload of money online is difficult, you can always get a little extra in to supplement your income. With enough hard work and some time invested wisely, anyone can make a significant amount of money online.

Author Bio: Paul and his wife Julie both spend quite a bit of time coming up with ideas, blogging, and researching all things related to childcare. They take care of all the necessary information related to “babysittingjobs.com/”. He personally thinks his blog will help finding information on all things related to a babysitter.

Saturday, September 29, 2012

Guiding your Recently Graduated Kids through Debt Management

Source: Personal Trainer Pioneer

If there's one thing that we adults have learned as we approach retirement is that the world is not a secure place, no matter how hard you've tried to make it so.

Living a debt-free life in America is though not impossible very difficult, and more and more people have realized that their debts can seriously hamper their ability to get what they want in life. Debt can make it difficult to have a stable marriage, to buy a house, or to relocate. Debt can also stop you from retiring when you are ready, and it can keep you from pursuing more education.

Even if you've handled your debts wisely, it's very important to pass this knowledge on to our children. If you have children who are now adults and out on their own, here's how to guide them through a financially responsible life:

1. Encourage them to pay back their student loans as aggressively as they are able.

Hopefully, your children's only debts after graduating from college are student loans. While this was the case with me and my siblings, many of my recently graduated friends had mountains of credit debt as well.

Regardless of your child's debts after graduating, it's important to emphasize to your children the need to start paying loans back as soon as they find work.

Most young professionals will only pay monthly minimums for years before they realize that they could have paid much of their debt off a lot faster had they simply pitched in a little more every month.

2. Help them develop a budget for living expenses.

While budgeting may come second nature to you, it's often tough for young adults who are doing it for the first time. Sit down with your adult children and talk about ways that they can implement a reasonable budget on their expenses, including separate budgets for food, rent, entertainment, and savings.

3. Do not pay back their loans for them, especially if it means sacrificing your retirement savings.

One of the most tempting things parents usually want to do for their children is to pay back their loans. Of course, if, like many young adults in America, your child cannot find a job and is completely unable to pay back their debts, there's nothing wrong with stepping in and helping a little bit.

At the same time, however, it's important to understand that we much continue to teach our children lessons even as adults. And one of the most important lessons that many people take their entire lifetimes to learn is a personal responsibility.

Of course, advise them on how they should manage their debt, but leave the actual repayment up to them. Don’t risk your retirement savings just to coddle your kids.

4. Talk to them about the importance of starting an emergency fund.

It's quite astounding to read the statistics concerning the percentage of people who have absolutely no emergency fund. A serious accident on the highway can happen at any time, and recovering can be difficult. While legal aid like a Tampa truck accident lawyer can help with the recovery, it can still be difficult to recover from the mounting expenses.

Of course, it's hard to establish an emergency fund when you're busy paying off debts. Still, once your child has learned to manage her debt and budget correctly, encourage her to start an emergency fund that can pay for six months' worth of living expenses.

Most financial advisers recommend having a fund that covers at least six months and as much as a year, especially in an uncertain economic climate.

While legal aid like a Tampa truck accident lawyer can help with the recovery, it can still be difficult to recover from the mounting expenses. Of course, it's hard to establish an emergency fund when you're busy paying off debts.

Still, once your child has learned to manage her debt and budget correctly, encourage her to start an emergency fund that can pay for six months' worth of living expenses.

Most financial advisers recommend having a fund that covers at least six months and as much as a year, especially in an uncertain economic climate.

Still, once your child has learned to manage her debt and budget correctly, encourage her to start an emergency fund that can pay for six months' worth of living expenses. Most financial advisers recommend having a fund that covers at least six months and as much as a year, especially in an uncertain economic climate.

At some point, of course, there isn't much that we can do when our kids are all grown up. At the same time, however, you'll be their parents forever, and they still will look to you for advice. Offering sound financial advice is perhaps the most important advice we can give. Good luck!

Mariana Ashley is a freelance education writer who also writes about parenting, personal finance, and small business strategies. She has an especial interest in online education, particularly online colleges in Arkansas. Please feel free to contact Mariana at mariana.ashley031@gmail.com

Friday, September 28, 2012

National Coffee Day Discounts and Free Giveaways

Krispy Kreme logo (Photo credit: Wikipedia)

Oh Yeah! Saturday will be the Christmas for all coffee drinkers. Saturday is "National Coffee Day". What does this mean to you? Free coffee, what else.

At 50plusfinance.com our goal is to provide interesting articles in the personal finance realm that hopefully entertain and educate. But what we really care about more than that is coffee and the enjoyment of it. Our team of coffee scientist, in our secret coffee labs, have been scraping the Internet for all the best deals and freebies for you to properly celebrate this great day. Below you will find a list of all we could come up with concerning the delicious drink. Most of these are either free or require a coupon which we have graciously provided a link for. Enjoy!

7-Eleven: Free large coffee on Sept. 28 between 6 and 10 a.m. 7-Eleven has locations in the U.S. and Canada.

Dutch Bros. Coffee: All coffee drinks and Dutch Bros. Blue Rebel energy drinks are free on Sept. 29at the location at 7225 Martin Way East, Olympia, Wash. Take $1 off any coffee drink on Sept. 29 at the eight locations across Central Oregon, all located in Bend, Redmond, or Sisters. Free coffee drinkson Sept. 29 at the three locations in Colorado Springs, Colo.

Dunkin’ Donuts: Printable coupon for a 99-cent hot or iced lattethrough Sept. 30.

Dunkin’ Donuts: Printable coupon for six free doughnuts with the purchase of a Box o’ Joe through Sept. 30.

Dunkin’ Donuts: Printable coupon for $1 off the purchase of a dozen K-cups through Oct. 28.

Eight O’Clock Coffee products: Printable coupon for $2 off at any store that sells this brand and accepts manufacturer coupons.

Einstein Bros. Bagels: Pumpkin lattes are buy-one-get-one-free on Sept. 29. They’re also offering other coffee-related discounts earlier in the week. Einstein has locations nationwide.

Kangaroo Express convenience stores: Get a 12-ounce cup of Bean Street Coffee for 1 cent on Sept. 29 between 8 a.m. and noon. Kangaroo Express has more than 1,500 locations in 13 southeastern U.S. states.

Krispy Kreme stores: Free 12-ounce cup of their new House Blend Coffee on Sept. 29. Krispy Kreme has locations in 39 U.S. states and three Canadian provinces.

Krispy Kreme online: They’re giving away free coffee for a year to 75 people as part of their 75th birthday celebration. To win, enter once between now and Sept. 29 by completing the form. The winners will receive two bags of coffee every month for the next twelve months – plus a free T-shirt and coffee mug. The giveaway is open to U.S. residents age 18 and older.

McDonald’s: Free cup of coffee every day through Sept. 29. Rumor has it this freebie is limited to locations in the eastern U.S., so be sure to call your location before making a trip. (Thanks to reader Jolene for writing to us about this offer.)

Punchbowl.com: Send a free National Coffee Day e-card. This freebie is available now, but they don’t say when it expires.

Seattle’s Best Coffee products: Printable coupon for $1 off at any store that sells this brand and accepts manufacturer coupons.

Ten Thousand Villages: Look for free samples or discounts at the stores in Charlottesville, Va., andPhiladelphia and Lancaster, Penn., on Sept. 29.

Tim Hortons Cafe & Bake Shop: Printable buy-one-get-one-free coffee coupon good on Sept. 29. The coupon is good at their U.S. locations.

Wawa Inc. convenience stores: Sign up to receive an immediate coupon for a free 16-ounce iced latte through Oct. 2. Wawa has locations along the eastern U.S. coast.

Thursday, September 27, 2012

How Is Classic Car Insurance Different from Regular Car Insurance

(Photo credit: Wikipedia)

The average driver uses their car for work, shopping, and travel. The amount payed for car insurance depends on the age of the car and your driving record. Depending on whether you have a new car or just a jalopy, the amount of insurance can vary. But the costs vary according to how much the car insurance agent knows it must pay to repair or replace your car.

But what if you have a classic car? Many of us have that dream of owning a classic car. The car could be the car you had in your youth or that car you could never afford to buy. Now that you have it, you wonder what type of insurance do you need.

Classic cars have many of the same qualities as your new car. They need to be insured for theft and damage. But do classic cars need any other types of insurance. There are differences because the classic car is not driven on the road as much as the new car. How do insurance companies account for this?

Classic car owners take a lot of pride and care in their classic car ownership. They could of personally took the time to restore the car. Maybe even taking years to painstakingly restore the car to its original appearance. So when it comes to insuring it they are very concerned about insuring it correctly.

What is a Classic car?

Most people have some idea what a classic car is. But what do car insurance companies consider a classic car? Insurers vary according to their definitions of a classic car. In general, cars built between 15 and 25 years ago are considered "classic," while those older than 25 years are considered "antique." Make sure an insurance company considers your vehicle a classic before signing on the dotted line.

What does classic car insurance actually cover?

The amount of protection varies according to the policy. Comprehensive coverage is typically the same for a classic car as it is for a modern car but with a few extra restrictions.

Insurance policies often limit how many miles per year you can drive your classic vehicle. Many insurers also put restrictions on who can drive the vehicle.

Some policies put mandates on classic car storage. Because these cars frequently attract the attention of vandals and car thieves, many insurers require you to fit your car with approved security devices and store it in a locked garage.

Many insurance companies also offer insurance coverage for replacement parts. These policies are worth looking into if you have a valuable classic vehicle or you want any replacements to be truly authentic.

What are the specifics of a classic car policy?

While looking for classic car insurance I started online. After searching online, I found the Hartford through AARP. They specialize in giving a classic car insurance quote

12-Month Rate Protection

Because the AARP Auto Insurance Program from The Hartford offers a 12-month policy, your classic car insurance rates are locked in for a full year — not just 6 months like most other companies.

Lifetime Renewability

No need to worry about losing your classic car insurance. Once you become a policyholder, you are assured continued coverage as long as you’re able to drive and meet a few simple requirements.

Auto/Home Bundle

If you bundle your home and auto insurance with the AARP Auto and Homeowners Insurance Program from The Hartford, you could save on both.

Anti-Theft Device Discount

Anti-theft devices can be either active or passive disabling devices that protect a car from theft and save you money on your Comprehensive Coverage. If you must manually activate the device, it is considered active. If no separate step is needed to activate the device, it is considered passive.

Defensive Driver Course Credit

If the classic vehicle is the car you principally operate, you’re the primary operator of the vehicle, and you have completed an approved defensive driver course, such as the AARP® Driver Safety Program, you're eligible for an auto insurance discount for the next three full years.

Not all car insurance companies provide classic car insurance. Some do but they do not specialize in it. Be sure that you classic car insurance is provided by a company that specializes in it. You do not want to risk your classic car with just any company.

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