Archives for 2012

Passive Ways To Make Money: Credit Card Rewards And Swagbucks

There aren't many truly passive ways to make money, but there are ways to make money doing what you already do, and those are the methods I like to take advantage of.

One of my favorite ways is to use a credit card that offers rewards points. As long as you are paying off your balance each month, you are earning free money for something you would already do, buy things on your credit card. Using this method, I have been able to routinely give my mom free restaurant gift cards for her birthday and Christmas.

The other way I like to earn “free” money is by using Swagbucks, which I would like to discuss today.

What Is Swagbucks?

Swagbucks is an Internet search engine. While it is not quite as powerful as Google, I find it meets the majority of needs. I use it almost exclusively as my search engine. Randomly, you will be awarded Swagbucks while you search the Internet. You can let these Swagbucks accrue and redeem them for gift cards, cash, and a variety of other prizes.

How to Earn Even More Swagbucks

There are many ways to earn Swagbucks, but there are several that will yield more results with less effort (my favorite way!):

Have friends join up under your referral link. Every time someone joins under your referral link, you will earn matching Swagbucks for every Swagbuck they earn up to their first 1,000 Swagbucks. If you have several friends joining under you, you will earn Swagbucks more quickly.
Look for freebie codes. Swagbucks occasionally offers freebie codes, either through their Facebook page, the app or through bloggers. Follow bloggers who use Swagbucks to learn about the freebie codes or sign up yourself to be a Swagbucks blogger. Make sure to use the app as well as you'll be notified when new codes are available.

What Can You Earn?

You can purchase anything from small kitchen appliances to posters with your Swagbucks, but my favorites are Amazon gift cards and PayPal cash.

Amazon gift cards are given in a variety of increments from as little as a $5 gift card for 450 Swagbucks to as much as a $500 gift card for 54,995 Swagbucks and everything in between.

PayPal cash can be redeemed for, again, as little as a $5 payout for 700 Swagbucks or as much as $100 for 12,549 Swagbucks. The money is automatically deposited in your PayPal account after some verification.

When you are ready to redeem, you simply enter your password again, choose your prize and redeem. Be warned though, redemption can take as long as 6 to 8 weeks, so make sure you allow yourself enough time. I once tried to redeem for an Amazon gift card for some Christmas presents. The problem? I was redeeming in early December. Now I know to plan ahead.

There aren't many places where you can get “free” money any more, but by maximizing credit card rewards and Swagbucks points, finding free money is still possible.

What is your favorite way to find “free” money?

How To Check Your Credit Report For Errors — And Get Mistakes Fixed

By Miranda Marquit Leave a Comment

Your credit history matters a great deal. From loan rates to getting some jobs, what's in your credit report can make a difference in your finances and in your life. If there is a mistake on your credit history, you could be impacted rather surprisingly. An erroneous negative item can bring down your score, and that means you could pay more in interest when you get a loan, or that you could end up losing out on some other financial opportunity, such as a better insurance rate.

Regularly check your credit report for errors, and fix mistakes that you find. That way, you stand a better chance of having an accurate score that lenders are impressed with.

Check Your Credit Report Regularly

You can get access to your free credit report at AnnualCreditReport.com. You are entitled to one free report each year from each of the three major credit bureaus, as well as reports from some of the other credit reporting agencies. Get your free report, and check it over. Look for discrepancies in your payment history (very important since this is the weightiest factor), as well as other inaccuracies, such as who closed an account, and personal information. Also, make sure that all of the loans reported are actually loans you applied for. An unexpected loan that you didn't apply for could be a tip off that your identity has been stolen.

Fix Mistakes on Your Credit Report

If you find mistakes on your credit report, you need to fix them. Negative items can impact your score to an alarming degree — especially if there are multiple mistakes, or if the mistake is a major one. Here are the steps you need to take to fix a mistake on your credit report:

Contact the credit bureau in writing: Write a letter to the credit bureau, including your personal information, and the information that is inaccurate. Include a statement about what the accurate information should be. Some consumers like to enclose a copy of their report, with the offending item(s) circled in order to make it clear. If you have documentation, enclose copies (never originals) to back up your claim. Send the letter via certified mail so you can verify that the credit bureau received it.
Contact the reporting creditor: If you want to speed things along, you can do so by contacting the creditor and talking about the mistake. You can contact by phone, but sending a letter, using the same info you sent to the credit reporting agency, can help, too.
Wait for word: By law, credit reporting agencies have to investigate your dispute in a reasonable time period. Usually, the decision is made within 30 days. Wait to find out the outcome of the situation.
Take action: If you don't agree with the action, you can appeal the decision. Or, you are allowed to include a note of explanation on your credit file so that others can see your side of the story. If the credit bureau says that you are right, and agrees to change the information, double check after a couple of weeks to make sure that your credit report is now accurate.

Don't let mistakes remain in your credit report. You want to make sure that everything is properly sorted before you apply for major loans. Otherwise, you might find that you have problems with your financial transactions. Check your credit report, and fix errors, and you'll have a better chance at smooth sailing.

What Sort Of Liability Coverage Do You Have On Your Rental Car?

By Miranda Marquit 1 Comment

When I travel, I try to avoid actually renting a car. I either road trip it, or I try to stay somewhere near public transportation. However, there have been times when renting a car has been the best option. When you do rent a car, though, you need to be careful of the liability coverage involved.

If you get in an accident, you will be responsible for damage you cause to the rental vehicle, to other property, and perhaps even to injuries you cause to others. Before you rent a car, make sure you have the liability insurance coverage that you need. Here are some things take into consideration:

Coverage Offered by the Rental Car Company

Rental Car Insurance Coverage In some cases, the rental car company offers auto insurance on the cars. Some companies, like the Hertz on Demand program, offer free liability coverage. However, it's important to realize that this doesn't mean you have the coverage you need. Many free liability program only offer the state minimum on liability coverage. So, you might only be covered for a relatively small amount, like $25,000 or $50,000.

Of course, you could also pay the fee for extra coverage on the rental car. Most rental companies will sell you coverage for a flat daily rate. However, it can get a bit pricey in some cases. You'll want to see what others offer before you decide to take the rental company's liability coverage.

Rental Car Insurance from Your Credit Card

Many people don't realize that their credit cards might actually come with rental car insurance coverage. A number of credit cards offer free liability coverage for rental cars. This can be a real help for you when it comes to making sure you are protected when you drive a rental car. Once again, you need to double check the coverage limits. You are likely, though, to receive good coverage.

In order to make sure that your coverage is activated, you will need to pay the rental fee with the credit card in question. Additionally, you will need to sign the insurance waiver offered by the rental car company. When you don't get coverage through the rental company, you need to sign a document indicating that you are declining the rental car company's coverage.

Your Current Insurance Policy

You might already have rental car liability coverage through your current auto policy, and not even realize it. Contact your insurer to find out what the limits are, as well as the terms for coverage. You can also find out about an umbrella policy that can help shield you from liability issues associated with your rental car experience.

It's also possible to get what is known as a nonowner liability policy. This can allow you to have insurance when you rent a car. Check the rates for the level of coverage you want. If you frequently rent cars, it might be more cost efficient to get this separate coverage.

Review your options, as well as how often you use rental cars. You want to be able to get the best coverage for your money, and ensure that you have enough coverage to pay for issues that arise if you get in a wreck with your rental car.

Watch Out For These Gaps In Your Home Insurance Policy

By Miranda Marquit 1 Comment

When you have a home insurance policy, you often assume that you are covered for damage to your home. And, while this is the case for many situations, the truth of the matter is that you might actually be missing out on some coverage. Indeed, there are some rather costly gaps in many home insurance policies.

Double Check Your Homeowners Policy

Before you assume that any sort of damage will be covered by your homeowners policy, look through the document. Find out exactly what is covered. You might be surprised to find that the following acts of nature probably aren't covered by your policy:

home insurance gaps

Floods: Most of the time, you have to buy flood insurance if you want to be protected. Floodsmart.gov offers you a way to check to see if you need flood insurance. Realize, though, that even if you don't live in a flood zone, you might still want coverage — especially if you are afraid of some freak natural circumstance.
Earthquakes: There are a number of homeowners policies that don't cover earthquake damage. If your home has been damaged in an earthquake, you could find yourself bearing the brunt of the cost.
Mudslides: If something happens and your home is damaged by mudslide, you probably can't expect your home insurance policy to cover the costs. If you live on a hill, or your home is built on the side of a mountain, you need to be aware of the possibilities that can come with rain runoff.
Tornado: Don't assume that your home is covered in the event of a tornado. Otherwise, you might be unpleasantly surprised.

If you live in areas that are prone to extreme weather, you need to make sure you are properly covered. Chances are that your homeowners policy won't cover those types of damages. You might need to purchase extra coverage — or purchase a separate policy.

You should also find out whether or not the policy covers home business activities. Many policies won't cover damage possessions that you use for home business purposes, or pay out liability claims if someone is injured on your property while coming to conduct business. There are some policies that will protect up to a certain amount, but it is usually less than what your homeowners policy generally covers. If you are running a home business, you'll want to double check the terms of your policy so that you know whether you need to add more coverage for your home business.

Make Sure You Have Adequate Insurance

Realize, too, that you might not have adequate coverage for the items inside your home. Often, insurance companies cap what they will pay out on possessions. Additionally, you might find that insurers adjust the payout due to depreciation.

Also, you should understand that you might not be covered for the total cost to rebuild. Some homeowners, who have had their homes for a long time, find that their houses have gained in value — but they haven't upped the coverage. Go through your coverage and determine whether or not you need to increase the amount. Otherwise, you might find yourself paying out more than you expected.

Have you ever had a catastrophe only to realize you didn't have enough coverage?

Get A Quote On The Homeowner's Insurance Coverage You Need!

Why You Should Have Life Insurance Even If You Are Young And Healthy With No Dependents

By Mr. Money 3 Comments

Life insurance isn't always something that I've thought very seriously about. Before I became more serious about my finances it was kind of an afterthought, especially when I was in my 20's and I didn't have a care in the world. I was single, no kids and nobody depending on me except myself. I really didn't think there was much of a reason for me to be buying life insurance when I wasn't married or didn't have kids. It was just like flushing money down the toilet, right?

The thing is, even if you're young and healthy there may be quite a few good reasons for you to buy good term life insurance. It isn't just for old people, you know!

September is life insurance awareness month, and to start the month off with a bang today Jeff Rose of Good Financial Cents and a list of 115+ personal finance bloggers and financial companies are proclaiming importance of having life insurance. To find out more about the life insurance movement, or to read articles from some of the other participants, head on over to the site’s page, or follow it on Twitter Hash Tag #LifeAWARE:

Life Insurance Movement At Good Financial Cents

So today I thought I would examine a question that a lot of people are probably asking today as they read all of these life insurance posts. Do you really need to have life insurance if you're young, unmarried and have no dependents?

The answer to that question is a resounding.. maybe. There are some pretty good reasons to consider getting life insurance, even while you're young.

Buy Life Insurance When Young

When You're Young, You're Probably Healthy

Typically most Americans will wait to buy insurance until they're a little bit older. At that point they've had years to get into bad eating habits, smoking, drinking and a whole host of other issues that can greatly affect their health. Having those health issues on your resume isn't going to be a good thing when it comes time to get life insurance, in fact, in some cases it will disqualify you from getting coverage at all! At the very least it will mean your premiums will be greatly increased to the point where it may be hard to afford a policy.

Instead of waiting until you're middle aged to get life insurance, why not buy it when you're young and healthy and in the prime of your life! The rates will be much cheaper, and you won't have to worry about being denied because of health issues.

Term Life Insurance Is Super Cheap

Another reason to consider getting insurance even when you're young is that the premiums are just so cheap. When I bought my insurance recently I was able to buy a good term life insurance policy of $500,000 for right around $30/month. That policy could have been even cheaper if I hadn't waited so long myself – I could have stood to lose a few pounds.

Rates have been dropping over the years, with standard risk term life insurance policies dropping 50% from 1994 to 2008.

Statistics prove that people are living longer, healthier lives due to the advances in medical care. This means that the need to charge high rates is simply unnecessary because the risk is much lower.

So rates are falling and you can get a decent amount of coverage for the cost of one meal out at your favorite restaurant. What's stopping you?

Do You Really Need It If Single?

If you're single, you may not technically need life insurance, but it might not be a bad idea for singles to buy life insurance while they're still young for a couple of reasons:

Guarantee insurability: You never know when you'll have a health issue pop up, or whether or not you'll have an accident or some other issue that keeps you from getting life insurance later.
Better rates: If you're buying when you're younger and healthier, than your rates will most likely be better.
You have debt: If you have a large amount of debt to pay off, you may want to have a bit of life insurance to pay that off if you die – especially if there are co-signers on your debts.

Get Your Quotes Now!

The very least you can do even if you're reasonably sure that you don't want or need to get insurance – is to get a quote. Getting quotes on life insurance is easy in this day and age, just fill out a form or two and get quotes from a bunch of different companies. You can even do it through this site on our life insurance page. Check it out!

Get A Life Insurance Quote

Why Online Banking Is Better

By Contributor Leave a Comment

There are many things that can be done on the internet these days. You can buy car insurance online without having to fill out mountains of paperwork, or order an infinite amount of merchandise from shops like Amazon without a long wait. Banking is another sector that has fully embraced the internet.

Online Banking Is Convenient

You can now do plenty of financial operations online without needing to fill out any paper forms or visit a bricks and mortar branch of your local bank. Being able to do everything online provides a lot of convenience for customers, and it greatly speeds up many normal banking operations.

Today, nearly all financial institutions let their customers access their accounts online through a PC or from a smartphone. Transactions such as checking account balances, making payments and transfers, sending money to another person, or even depositing checks can all be done online.

Online financial services offer many advantages over traditional banking. First, there is less wasted paper. Most of us simply discard banking statements a few days after receiving them. For those that need to keep the records, keeping them organized would be quite a challenge.

Furthermore, in the case of online records, one can quickly filter down the data in order to search for specific date ranges, transaction types, payees, and more, which is something that is obviously impossible to do on a paper document. The records are accessible on any web based device, so one doesn't need to carry banking documents with them if they need to show them to someone else.

Online Banking Saves Money

Another way that online banking services are better is that they reduce the costs involved in running a bank. There's less paper used, so less costs for printing and mailing documentation. An increased number of people do their transactions online without the assistance of a bank employee, which means that banks won't have to invest as heavily in their branches.

Doing banking online is much faster and more convenient for the customer, as they won't have to take time to go to the branch, or fill out pages and pages of paperwork to get simple transactions done.

One can now find “online only banks”, which are financial institutions that only have one or two branches in each city, but the rest of the transactions are done either by web, phone or ATM.

These banks then pass on the savings to their customers, by paying higher interest rates on deposit accounts and reducing or eliminating many fees, such as withdrawal charges or monthly account maintenance fees.

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