The #1 gift you (and your kids) deserve
November 28, 2011 by Jackson Beirne · Leave a Comment
When planning my December column, my Redbook editor and I were amazed at how many U.S. families go without life insurance—which is essential for taking care of your kids, should the unspeakable happen. This holiday season, I urge you to buy yourself this important gift.
Here’s a quick tip to get you started: When shopping for a policy, you’ll want to stick to “term,” the most basic and affordable kind. How much coverage to get? Check out Bankrate’s life insurance calculator for help adding it up. Or try this handy formula from Jim Shagawat at Baron Financial Group, a fee-only advisory firm in Fair Lawn, NJ: Add up your debt, your desired contribution to kids’ future college costs, and eight times the annual value of your work. Th
Five Common Debt Solutions.
November 27, 2011 by Alexandra Kerr · Leave a Comment
Debt is an ongoing problem that plagues consumers around the world. Heavy debt is caused by various factors. Loss of job, divorce, and over extending one’s financial abilities are just a few ways debt sneaks up on hard-working people. If you are having a problem with debt, you are most likely wondering how to get out of it. Here are five common solutions.
Many people get scared and naturally want to solve debt by filing for bankruptcy. Bankruptcy is a legal status that clearly defines one’s inability to pay creditors. Depending on the chapter the debtor files, he or she may be excused from making any payments.
The downside to choosing bankruptcy as an option is the resulting credit status. A bankruptcy will remain on the consumer’s credit report for a period of seven to ten years. This status will make it difficult for that person to obtain any credit during that time. Bankr
“A Failure of Politics” 2–designing a system to ensure failure
November 24, 2011 by Jackson Beirne · Leave a Comment
As a follow up to my ‘Failure of Politics’ post, here is succinct piece from Francis Fukuyama, Stanford Senior Fellow. In particular this paragraph caught my eye. We often hear of the divisions of power amongst the various branches, and the immobilising effect of lobbying in US politics. However this was a new one to me, that any of the 100 Senators can place anonymous holds on work proceeding for entirely selfish purposes.
Talk about designing a political system to fail!
Oh for a democratic dictatorship and not a vetocracy | ft.com – Francis Fukuyama
In addition to the checks and balances mandated by the constitution, Congress has added a host of further opportunities for legislators to use their veto power to blackmail the system, such as the anonymous holds that any of 100 senators may place on executive branch appointments. A par
Debt Control – Who is it OK For?
November 24, 2011 by Alexandra Kerr · Leave a Comment
When the total due becomes more than you could hope to pay back, its not hard to think there isnt any way to start to handle the debt, which is when many individuals resort to bankruptcy as the only real way out. In a few cases insolvency is undeniably the best long-term answer, but its an extreme step to take and shouldnt ever be the sole option considered. There are lots of likenesses between the positive facets of an iva and those of starting bankruptcy proceedings. A debt control plan is an ad hoc finance agreement. It involves a re-arrangement of how past due debts will be cleared. Here is lots more stuff on debt help.
By entering a management plan, you are defaulting on your original agreement. This could stay on your credit history for six years which could make further credit costlier and / or tougher to get for that time.
Does anyone need to know I am in debt?
November 15, 2011 by Alexandra Kerr · Leave a Comment
We live in a culture where discussing debt is taboo. We worry about what people will think if they were to find out that we had money troubles. We think that we are the only ones to go through this. The truth is hundreds of thousands of people are in debt: some unable to pay it back, others managing to cover the monthly repayments.
One worry for many is, does anyone need to know about my situation? The simple answer is no. If you dont want your friends or family to know then you dont need to tell them.
You dont need to inform your employer either, unless you are entering into a plan where your job could be at risk then you would need to discuss it with them. In that situation everything you tell your employer will be confidential, so you would not need to worry about office gossip.
At the end of the day, it is completely your decision whether you tell anyone or not.