This is a guest post written by Brenda Davidson. She is a community member of world’s largest insurance community where you have all the choice in the world for insurance and why you should go for them.

Everyone who owns and drives a car needs automobile insurance. There are a lot of car insurance companies out there and all these companies maintain that they offer the best service against the most affordable rates. With so many companies out there, how do you understand which automobile insurance company is suitable for you? If you do some analysis, it can take you a long way and help you choose the best auto insurance company and save some money. If you need your auto coverage to work in your interest and offer protection if an accident takes place, then selecting a company is about more than only getting the most affordable rate.

If you’re searching for a good policy in the market, it is prudent that you collect some details regarding the prospective insurers you’re thinking about. Some of the details you’d need can easily be obtained on the Internet. You can receive quotes from various insurers and get an idea about the coverage, rates and benefits offered by them. For most insurers, you can do this just by filling out an online form.

Besides the rate quotes, you should take the following questions into account:

How are they rated by A.M. Best or J.D. Power?

You would preferably look for an insurer who has a good ranking with the abovementioned independent rating agencies.

What do online consumer surveys have to say?

Go through online consumer surveys and find out what is stated over there. Surveys are useful resources since they frequently let you know about the track record of an insurer along with their services.

Are there any formal complaints to be worried about?

As the auto insurance industry is controlled by certain regulations, your state insurance department would have the data about consumer complaints registered with them. You can access these details through their official website or you can call them up for getting more specific details. You should be suspicious about insurers with a lot of complaints.

What additional services do they provide?

If a company provides various forms of insurance, there are probabilities they provide bundled services with discounted rates. Even though they just provide auto coverage, make sure to ask about discounts like safe driver discounts, multi car and multi line discounts.

Will they be available to pay for your claim?

You should always assess the financial condition of an insurer. You can do this through various sources like the website of the company or online reviews. Financial information and news websites can also offer what you’re looking for. Anyway, you’d have to ensure they are going to be available and can manage to pay your claims.

What do the auto mechanics have to say?

Visit the auto body repair shop in your area and inquire about their functional association with many insurers and who they think is the best. This would help you understand how effortlessly things would come with an insurer if repairs become essential following a road mishap.

Keeping the above points in mind would definitely help you find a reliable auto insurer.

When it comes to buying a new car, many consumers will opt for car finance from the dealer as they are usually quick and readily available. However, for some consumers, it might actually be beneficial to get a personal loan to finance your vehicle instead.

A personal loan is a loan from a lending institution (such as a bank) that you can then use for pretty much anything, unlike a car loan that can only go towards the purchase of the car. A personal loan can be secured against something of value, such as another vehicle or home or you can obtain an unsecured personal loan, which usually incurs higher interest rates because the bank has no “security” if you default on your payments. Meanwhile, a car loan is a secured loan against the car you are looking to purchase, so if you default on your car payments, the lender takes ownership of your car.

Ultimately the choice you make between a car loan and a personal loan will depend on a number of factors, but there are a few situations where a personal loan might be most beneficial.

If you’re looking for an older model…

Generally, car financing doesn’t exist for older vehicles as they are worth less so banks are unwilling to secure loans against them. Vehicles that are older than seven years are much harder to finance with a car loan.

If you can offer other security…

If you have an asset to secure your loan against, you’ll benefit from the lower interest rate of a secured personal loan. The interest rates difference between secured and unsecured loans is usually about 2%, which can make a sizable difference to your repayments.

If you want to own your car outright…

For various reasons, you may not want to encumber your vehicle with debt and would prefer to own it outright. Individuals who rely on their car for their livelihood may not want to risk having a vehicle repossessed so a personal loan can offer some peace of mind.

Better negotiation power?

Some argue that getting a personal loan so you get the “cash” in hand will give you better bargaining power at dealerships. In actuality, car dealers make money through dealer financing arrangements from the lenders, so paying cash means you’ll be taking away that potential income so there’s no incentive for them to haggle. If you do get a personal loan or are looking to pay cash, tell a dealer that you’re undecided about how you’ll be paying until you settle on a price.

A few weeks ago my wallet of 10 years was stolen.  I remember the day I bought it with my mom at Marshall’s it was my first grown up wallet and it had a lot of sentimental value to me.

Here are steps you should take right away when your wallet is stolen/lost.

1. Cancel all cards
2. Get replacement cards
3. Get a new ID
4. Get a new Wallet

Immediately I canceled all my credit cards and debit cards, and contacted the necessary people to get replacements.  After the initial shock of having my wallet stolen and fear that someone has my id, bank information, and cards, I made sure I took these steps to make sure no identity theft or money would be stolen.  It can be such a hassle but if you step back for a few seconds, you will realize that it’s not the end of the world, and getting things in order can be done fast.  In fact, it helped me save money.

How?  Even though I had $20 and cards stolen, it took a few days for the new cards to come in the mail.  In that time period I did not purchase anything, basically because I had no means.  Not having any cards prevented me from any quick impulse buys that may have happened on small items that could add up over the course of a week.

The place I really saved money was with a lack of an id.  Not having my id restricted the activities I could do.  I didn’t feel comfortable driving without an id, so I saved some money on gas.

I also could not go out to any bars with friends so I instead had more low key movie nights instead of going out in DC.  I was able to save a lot of money on night activities from not having to pay for taxis, covers, drinks, and good.  The more low key movie option may not have been exactly what I wanted to do, but for the short term until I had my id back, it was fine.

With all those activities gone, I was able to save at least $100 in a one week period.  Don’t get me wrong I would rather have not had my wallet stolen, but I managed to put a positive twist on it and in the end actually had more money to put in my now new wallet.

Have you ever had a wallet lost or stolen?

By Heaven Stubblefield

At one time, banks were all about getting people to put money into a CD.  While these things use to be used exclusively by the music industry, banks caught on started spreading the word on an incentive to make money with them.  Unfortunately, CD’s are not worth it and here’s why.  There are better places for your money, it is difficult to access your money once it is in the CD, and the return is simply a joke when you put money in.

First, a CD is a glorified savings account that has a lot of strings attached.  CD’s were designed to give customers a place where they could gain interest from the money they deposited.  If you look around your bank, there are a lot of places where your money would do the same without the strings attached.  If you are thinking about putting money in a CD, don’t.  Instead, put it into a traditional savings account or invest it in a mutual fund.  CD’s may sound cool to teenagers, but to savvy finance experts, they are just a fad.

Another reason why you shouldn’t put money into a CD is in regards to accessing your money.  Most savings accounts allow you to withdraw money that is gaining interest without any fees or fines.  However, in a CD situation, if you take money out of the CD before the mature date, you will pay a fine and possibly not accrue any interest.  That’s like buying a music CD, liking only one song on it, but being stuck with all of it and if you try to return it they don’t give you your money back.  Then, you take your CD to a music dealer who only gives you a percentage of the money you paid in the first place.

Finally, the return on a CD is simply a joke if you are looking for a quick return.  I found this out the hard way.  At my local bank, I came in with a $500.00 deposit.  Before I knew any better or researched the idea, I put the money into a 5 month CD.  That meant my money was tied up for the next five months but I was going to make money off of it. I was kind of excited, until I cashed in the CD.  I made $16.00 from that CD.  I could have invested that money in the stock market extremely conservatively and made more money that that.  Don’t buy into CD’s, even music ones.  There are better ways to use your money.

What do you think of CDs?

By Heaven Stubblefield

It seems these days everyone and everything is go, go, go.  Kitchens have become another room that holds your things without ever being used.  The restaurant business has skyrocketed simply because people are spending less time in their kitchens and more time in the hands of other people to cook for them.  If you are a frequent diner, or simply want to save money on your once in a while excursions, here are some tips to help you save money.

1. It’s all about H2O. The average nonalcoholic refillable beverage will cost you between 2 and 4 dollars.  If you are imbibing from the bar, double it.  Most drinks, whose prices are not published, run between 4 and 10 dollars.  And those are not bottomless drinks.  When you go to a restaurant, order water.  Your server might think you are a cheap table, but you can always say you are watching your weight or “parched.”

2. Save up birthday presents. When my family asks me what I would like for my birthday and Christmas I always share that I want gift cards to my favorite restaurants.  Then, instead of using them as I get them, I hold onto them for special occasions.  When I was in college, I received a gift certificate to the nicest restaurant in town.  Instead of using it the next weekend, I saved it for an anniversary dinner with my boyfriend (now husband). The same thing goes now, six months later; I still have gift cards from Christmas that I will use for my husband’s birthday or a girl’s night out.

3. Promotion, Promotion, Promotion: I am a big fan of restaurant week in my hometown.  During this time, high end restaurants will serve you for a flat rate.  It helps them promote their wonderful restaurant and helps the average diner eat from a more pristine table cloth for an evening.  What would normally cost at least $100 for a meal for a table of two will typically cost $20 during restaurant week.

4. Don’t do the cooking, but do carry it out: Carry out has become the new phenomenon of many restaurants, and not simply chains.  I frequent a local Chinese restaurant, which we’ll call “George.”  When we dine in, we order drinks, and leave at least a 20% tip.  By carrying out, we drink what we have at home, or bring a bottle of water with us, and eliminate the tip.  We still get an excellent meal at “George” and it comes with a great savings.

5. Share. With the exception of when I was pregnant, I have never walked out of a restaurant without a doggie bag.  My husband and I often order the same thing when we eat out.  In addition, we rarely order from the kids menu for our daughter, who is less than 2 years old.  If you are dining in, you may incur a slight charge for sharing;  however, most restaurants, who appreciate that you came in at all and will not have a problem dishing one portion onto two plates.  If you both order a salad or side, it might make your server a little happier to serve.

I hope these tips will help you enjoy eating out without worrying about the bill.  Happy dining!

What are some tips you use to enjoy eating out without spending a lot of money?

Growing up, my parents tried their best to keep me away from the television.  One phrase they told me on the weekends and all summer long was “Go Outside.”  While it seems we all must be plugged into our phones, computers, and electricity, there are a lot of things that can be done outside that are fun and do not break your wallet.

This summer my husband bought me the best birthday present: a pool membership.  While it may not seem to fall on the cheap side, my daughter and I made sure we used my gift to the fullest.  At $100, we were able to swim every day the weather allowed from Memorial Day until Labor Day.  Because my husband purchased the season pass early, we saved money and after calculating the costs, were able to enjoy the Water Park, diving board, sauna, Jacuzzi, and big swimming pool for less than $1.00 a day.  If my daughter and I went to the pool as many times next summer without purchasing a pass, we would spend $80.00 a month.  Clearly, this is a reason to check out your local city’s recreational center before next summer.

As someone who likes being active and thrifty, it is possible to take advantage of things your tax dollars help support.  I am a huge fan of MetroParks.  In Ohio, the MetroParks is a network of parks throughout metropolitan areas.  While it is possible to drive far away to a national park to appreciate what nature has to offer, many states have parks that are a turn or two away from a busy street.  The perfect example that comes to mind is Central Park in New York City.  If you have something like that in your town, it can be a great place for taking pictures with your digital camera, fishing, hiking, canoeing or having a cookout.  Some other parks offer different amenities, including swimming or nature reserves for specific animals.  One park near my home has a butterfly house and garden.  All free of charge.

Lastly, for another free event, check out your local outdoor mall.  Again, my hometown offers a place called The Greene, which is an outdoor mall.  On most evenings, in the center of the square, free concerts are given and sometimes there are programs for small children.  My niece loves it when the balloon man comes to The Greene.  For him, it is free advertising for birthday parties and other events, for me it’s a simple way to entertain my niece without doling out any lot of cash.

If you want to spend a little bit of money, go support your local high school’s athletic program.  Cheering, excitement, camaraderie and helping out education are sure to make your evening or afternoon enjoyable.  You definitely won’t pay the price of a professional sporting event ticket while there, but who knows, you may see an amateur before he/she gets “big.”

I know now why my parents stressed unplugging from video games and television.  If they hadn’t, I wouldn’t appreciate all the things that are offered right outside my door.

What are some of your favorite outdoor activities?

I was surprised when I walked in to McDonald’s the other day and saw a group of men sitting at tables with their computers going. I thought, maybe at Panera or Starbucks, but McDonalds has now jumped on the Wi-Fi bandwagon. Wi-Fi is the official term for a wireless internet connection. That means you and your computer can walk in to a public place like McDonalds and check your email, hold a video conference call, or even SKYPE while eating fries without plugging your computer into a phone outlet or calling to buy service at this place.

Wi-Fi became more of a phenomenon in colleges. Students wanted to work outside, at a library or at their student unions because there were not enough computer labs and so students were bringing their own laptops to campus. With people expanding their work day, there are times when people choose to work outside of their office or home in an attempt to get everything done. Fortunately for those of you who do have Wi-Fi at home, there is a way for you to earn money while you are working, or watching videos on YouTube.

The easiest way to make money is by using FON, the company’s name is Fonera. If you are using them as your internet service provider, they enable you to have your own private line, where your downloads, personal information and email are separate. They also give you a public line where foneros, people who use fonera, can use your signal to complete their work. The best thing about this service is that everyone’s visits to the internet are private. All the “Bill” provider knows is that someone was using the public line. They never know where the other person went and there is no liability for the person offering the service. PayPal takes care of paying you for each person who accesses your line, so you are free to use the money as you like, while not extending your Fonera contract. I once had a contract with a company and for each person who gave my name as a referral, they gave me money in the form of a credit to my existing account. This option, by Fonera, allows people to run a little side business while they are doing their own.

If you are happy with your internet service provider, there may be a reason to switch to Fonera. You will be able to download material while your computer is off. That means you are saving energy while still getting the material you need. If you don’t want to switch your Wi-Fi because you are very happy with it an option might be to collaborate with your neighbors into sharing a signal. I had a friend in college who decided to use her neighbor’s Wi-Fi access without their knowledge. In apartments, it is easy to find a signal, provided it is not secured by the buyer. Unfortunately, not only was she stealing, if she chose to give personal information, there is a chance that it might be seen by unwanted eyes. A more safe option is to talk with your neighbors and agree to terms for using the internet. If you are the provider, you may want to charge a per visit fee if your neighbor comes your house. You could even get away with charging a fee by the hour. Either way, there are many opportunities for making money off your Wi-Fi.

As millions of Americans are facing budget woes, budget analysis has become a new chore in households as more Americans begin to save. Analyzing your budget helps because you enable yourself to plan for unforeseen circumstances while taking control of your earnings. But when looking at your monthly bills, it is important to know the difference between fixed and variable expenses and how to account for them each month.

Fixed expenses are those that stay the same each month for a period of time. In addition, fixed expenses and fixed interest rates go hand in hand. This means your interest rate will not go up or down when you pay your bill. The best fixed expenses are those that have a 0% interest rate over a period of time. For example, if you buy furniture with this option, it is like you are paying cash for the item without the penalty of borrowing the money. I used this option when I moved to my first apartment. I couldn’t afford the entire cost of the furniture I wanted, so I bought it on credit and agreed to pay it off in 6 months with no interest accrued. However, if I hadn’t paid it off in 6 months, this would have become a variable expense that I was not prepared to deal with. I’ll get into variable expenses in a little bit.

Fixed expenses include your car payment, rent or mortgage, student loan payments, furniture purchase using credit and some utilities. Fixed expenses are guaranteed bills that are going to be paid each month with no change in the amount. Although, at the end of a repayment agreement, it is possible for these amounts to change; however, the change is usually a lower payment amount. For example, if you have a car payment that is $250 a month and decide to pay $300 a month instead, at the end of your loan agreement you will not have to pay $250, it might be as low as 50 dollars or you might pay the car off early instead of what was originally agreed to.

Unlike fixed expenses, variable expenses are labeled this simply because of the variety that comes with them. Credit cards and utility bills are the biggest offenders although you are able to make some utility bills fixed expenses if your company allows it. Variable expenses are bills that will change every month. For example, if you use your Visa in May but not again until July you will not have a bill in July (depending on the billing cycle), but will have a bill due in August. I use this example for those of you who pay your credit card bill off every month when the statement comes in. And that is the best way to use credit cards. The other variable that goes with credit cards is what you put on them. If you use your credit card for to fill up your gas tank, then your bill will change every month in accordance with how much you drive and what the price per gallon is.

When looking at your budget, you should always plan to have extra money to account for those variable expenses. Some families use one spouse’s income for all of the fixed expenses and the other income for variable expenses and savings. If you have extra money at the end of each month after putting money into savings, retirement, etc. Variable expenses will not creep up on you and have you feeling your budget woes. One rule of thumb: if you can’t pay cash for it, keep your variable expenses to a minimum.

Welcome to family life. You have your spouse and at least one child. You are thinking about giving your child an allowance. Perhaps it is because you never received one, or you are taking an important step in teaching your child about money. There are various methods in determining whether or not to give an allowance, how to give kids allowance, and how to keep your kids wanting their allowance if you choose to give one. You should consider some of the following in deciding if you and your child are ready to deal with allowances.

First, can you financially support giving your child an allowance? Sometimes parents feel they need to show their kids their bank account in order for them to feel loved and appreciated. However, if you are swimming in debt, consider paying your child’s allowance to your bank so that you won’t feel guilty about giving your child money.

Second, does your child understand the concept of money? It seems ridiculous to begin giving an allowance to someone under the age of 5. They may or may not have fine tuned their math skills and may not understand the concept of getting money each week and choosing to do something with that money. In a book I read, the author suggested giving an allowance to children in the first grade. This way, the concept of wanting things is definitely there and they will be able to use math skills in tracking their allowance, which I’ll get to later.

If you have decided to give your child an allowance, congratulations; you are helping them mold the financial decisions they will make for the rest of their lives. There are various ways to determine what kind of allowance to give. Some parents choose to give their child an allowance. When I say give, I mean they simply hand a wad of cash over to their child with no strings attached. Other parents choose to give their child an allowance when they earn it. These parents see an allowance as earnings for being a productive member of the family. One tip to consider if you are utilizing the latter method, if they don’t earn it, do not feel bad not giving it. With this in mind, it is important that when deciding whether or not to give an allowance, you should consider how reliable your child is in completing your expectations.

Lastly, a tool that will keep your kids wanting their allowance every week is showing them ways to track their earnings. Here are two examples of how to track.

One is a software program that is free is kidsallowancebank.com. This allows you and your child to track money without giving any credit card information. It creates a way for your child to see how their earnings add up and to learn about banking.

Another way, using less technology, is to have your child use graphs. Let’s say you give your child an allowance based on the types of chores they complete that week. You give 25 cents for making their bed all week and 50 cents for unloading the dishwasher. If your child sees that they make more money unloading the dishwasher and making their bed, they will see how doing more work earns more money. They can complete a bar graph of what they complete each week and the money they earned for it. This allows your child to be creative by choosing different colors for each chore and mapping their earnings.

Allowance can be a tricky thing among households, especially if you don’t establish a clear method for giving money to your kids. But, if you are serious about teaching your child about money, allowances and tracking them are great steps.

Do you use a system of giving your kids an allowance?

Discount gift cards are great ways of saving you some money for your shopping or your next dinner date. They are readily available from numerous sources and people, and with them and some budget tools, you can really maximize the effectiveness of your money. It doesn’t take much effort to use them, and you’d be amazed by helpful they can be.

A popular way of getting a discount card is through your local grocery store. Groceries or big stores reward their loyal buyers with discount cards or gift checks when they frequently shop at the store. Rewards maybe given after purchasing a certain amount of goods, and you can get the cards at any time with no annual fees. You simply show or swipe the card and reap the benefits.

Checking your newspaper for discounts is also a good way to save money. Make a personal budget after you find the discounts so you can see what all you can really get. When new businesses advertise their services in a newspaper, they usually give out discounts as a way of introducing their services to the community. The discount card is cut out of the newspaper and presented when purchasing goods or availing of their business.

Specialty stores or commercial brands also give out discount cards or gift checks. When you go to a store for a purchase, a membership card maybe given which functions as a discount card, similar to the one from the grocer. A gift card to a restaurant or movie house can also be given to loyal patrons.

Promotions in radio or TV also give you an opportunity to win gift cards. When big businesses local stores advertise, they may give contests where you can win freebies, such as goods or a visit to their business. Contests give big rewards such as discount cards or gift cards to any lucky contestant.

When you walk down a street, there are instances when people give out discount cards. This is also a good way of advertising their business, and it‘s also a great way for you to pick up a good deal. There are lots of freebies around, and you could even get a 50 percent discount on their introductory offers. Just look around your area for people passing out these cards, and if you live or work on a college campus, you should have a lot of those opportunities through the university too.

Discount cards and gift cards are also available from the internet. There are a lot of websites that offer these great cards. Just searching for gift or discount at on a search engine can offer you good discounts from a variety of sites. They may be given as codes to use online rather than physical card, but that doesn’t lessen their usefulness.

With the current economic crisis that we are facing, it’s always a good idea to find ways of saving money. Discount cards can help you do just that. Their great helpers that are absolutely free, helping you save money from every angle. So next time you start making a personal budget, try working some of these in so you can buy everything you need.

Do you use gift cards to save money?