Term Life Insurance Vs Mortgage Insurance

Your dream of owning a home has finally come true. Now you have a place to raise your family, one that’s warm, welcoming, and secure. But that security is something you have to create and maintain while the mortgage is being paid down. If you don’t keep up with the monthly payments, you put the home at risk of being lost. So you go to work and focus on your efforts to hold onto your home. But there’s always that thought of “what would happen if I die today?” It’s a normal thought to have, and the risk of you dying today are small, but you want to do something to provide security if you do. A mortgage life insurance policy is one option, but it may not be the most optimal. It does pay the mortgage off, but there’s no other benefit outside of that. If you want your family to have financial security, you need to go further with a life insurance policy. A life insurance policy provides your beneficiaries with enough money to pay down the mortgage as well as cover debts that were left behind, such as a car note or schooling costs. And if there’s … Read more

Smart Strategies to Save Money on a Dream Wedding

You may have had your dream wedding in mind since you were young. But as a child, you may not have been able to understand the costs associated with this special day and how quickly they can add up. But you shouldn’t have to go into debt just because you want a fairytale beginning. The following are smart strategies that can help you save money without sacrificing all of your romantic dreams. Be Mindful of the Guest List Staying true to your budget can be a challenge, especially with ever changing plans. Unfortunately, unexpected issues such as car repairs and household expenses are going to continually arise. If you’re planning for a wedding and looking to trim costs, the first place to start is the guest list. The more people that you invite, the more food, beverages and favors you’ll need. Keep your wedding a more intimate affair by only inviting close friends and family members. Since children can be costly, make your wedding an adult’s only celebration. Save in Advance Most couples hope to make their wedding unforgettable. But it can take time and careful planning to prepare for this special day. Weddings also cost a pretty penny. Although … Read more

3 People Who Should Have Life Insurance But Don’t

You might be surprised at how many people in America do not have life insurance. Then again, you might not be surprised. Only about 62% of American adults have some form of life insurance. And while this is much better than nothing, there are many people who would greatly benefit from having an appropriately outfitted life insurance policy. There are significant populations who would be much better prepared for the future with life insurance, but who have comparatively few members who participate in this financial preparation tool. Here are three of the groups who could use life insurance the most. Parents with young children (or, really, children of any age below 18) are frequently found to be without life insurance. This can happen for many reasons, but the two most common are a feeling of financial insufficiency and simply not paying attention to the issue. Parents may feel like there is not real need for life insurance. This might be due to their feeling that they aren’t in danger of early death because of their health, family history, or personal caution. Still, unfortunate accidents can happen. In most cases, if any parental partner were to lose their life, immediate financial … Read more

Escape Debt And Swim For Gold With Ryan Lochte & Debt.com

Ryan Lochte is a six time Olympic Gold medalist and American champion swimmer. He was sponsored by Speedo soon after finishing college and has been under contract with them since. However, recent events occurring in Brazil after his last race have led to Speedo and several other companies pulling away their endorsements. The entire incident which involved Lochte peeing behind a gas station and tearing down and advertisement was blown out of proportion. To make matters worse the American swimmer decided to make up a fake robbery incident. This has led to many fans losing their respect for him and also criticizing his behavior in Rio. While some fans are questioning what they would have done in a similar situation, many fans are angry about the disgrace he brought upon himself by lying. Many fans believed that the whole incident was immature and unnecessary. However, Lochte is a human being everyone else and while he is a swimming champion, he is still prone to make mistakes like anyone else. Brazilian authorities say they found evidence contrary to the champion’s statement and other eye witnesses say that they returned back to the Olympic village, wallets and watches were seen on them. … Read more

4 Reasons Why People Can’t Get Out of Debt and How UDC May Be Able to Help

Having debt can limit your life so much, and feel like such an incredible burden. On top of all that, the more debt you have, the more debt you seem to accrue over time. Here are just a few reasons why so many Americans find themselves too deep in debt to ever get out. If any of the following applies to you, contact UDC for a consultation today, and work to stop debt in its tracks. Paying the Minimum on Credit Cards Credit cards can be a great tool for spending money while allowing your savings to accrue interest. However, if you rack up more charges than you can actually afford by the end of the month, it’s easy to fall into a spiral of paying off the minimum on your statement and letting the debt pile up. UDC’s debt settlement program is intended to get clients back on track and have them establish budgets as part of the program process. Saving Money is Impossible If the idea of setting money aside from each paycheck seems not only improbable, but impossible, you’re in good company. Many Americans are struggling from month to month and unable to contribute even a small … Read more

How Much Do You Need For Retirement?

How much will you need for retirement? Everyone would love to know the answer. Humans, after all, find comfort in certainty. This is why we read the latest investment news and calculate down to the last penny, it’s an attempt to crack the code. We shy away from ambiguity and are driven to do whatever it takes to find answers. Studies have concluded that our choices are influenced by our hunger for answers. The answers to well researched questions refer to generalizations and averages, but it is of the utmost importance that you consider your personal goals and needs when you formulate a financial plan. It may be worthwhile consulting an independent financial advisor to evaluate your situation and provide some tailored advice. How much should you save? It’s widely believed that an income of 75% of your salary allows you to retire comfortably. This accounts for any adjustments you need to make as you age (i.e. increases medical costs). Here are a few factors to consider when evaluating your potential needs. Housing Will your mortgage be paid off by the time you retire? If the answer is yes, then remove the home payments line from your budget. You will … Read more

Life Insurance: How Much Is Enough?

Life Insurance: How Much Is Enough? Thinking about your life insurance needs is probably not your favorite topic. At best, it may seem boring. It may even be depressing. However, thinking about and purchasing appropriate life insurance is really just the responsible thing to do. It is a way to take care of those you love most, even after you are gone. At the very least, life insurance guarantees that funeral costs and other costs associated with your passing will not be a burden. But more than just that, life insurance should make managing finances workable, at least for a time, for those you leave behind. Many people have a life insurance policy through their employers, as a part of their benefits package. But is it enough? What Kind of Life Insurance Do Employers Provide? Most employers provide what is known as term life insurance. Term life insurance is a basic type of policy. Term life policies do not accrue a cash value, so they are not investments. Should the insured die while the policy is in force, the person or people listed as beneficiaries on the policy will be paid death benefits. Term life insurance policies are not connected … Read more