Comments on: Dedicate 7 Hours For Healthier Finances – Hour 7 http://www.ncnblog.com/2009/02/10/dedicate-7-hours-for-healthier-finances-hour-7/ Debt Reduction Rocks - We Are Living Debt Free! Sat, 21 Nov 2009 11:44:22 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Taylor at Household Management 101 http://www.ncnblog.com/2009/02/10/dedicate-7-hours-for-healthier-finances-hour-7/comment-page-1/#comment-146589 Taylor at Household Management 101 Wed, 11 Feb 2009 17:06:53 +0000 http://www.ncnblog.com/?p=2174#comment-146589 I think insurance is a great topic, and one that if often overlooked. My day job is as an attorney, and I deal with insurance companies everyday. It is not always fun, but it makes me realize how important good quality insurance is. A suggestion I would make is to also create a household inventory for insurance purposes. Of course, this takes more than a hour, so it doesn't really fit into a list about 7 hours for healthier finances, but it is a good way to get all the value out of the insurance you purchase if you ever need to use it. I created a blog post recently on why you should create a household inventory (click on my name for the link). I know it can be a dull subject and also one people don't want to think about very much -- what if I lost everything? No fun. But if you are going to bite the bullet and take this great advice from NCN and really think about your insurance, you should also think about how to make it really work for you with a household inventory. You can also contribute a story of when you needed a household inventory. I have lots of stories I could tell, but they involve my clients so I have not given any specific stories, but some of them are heartbreaking. I also created a companion article on how to create a household inventory quickly and easily, and what information it should and does not have to include. http://www.household-management-101.com/household_inventory.html Check it out if you're interested! I think insurance is a great topic, and one that if often overlooked. My day job is as an attorney, and I deal with insurance companies everyday. It is not always fun, but it makes me realize how important good quality insurance is.

A suggestion I would make is to also create a household inventory for insurance purposes. Of course, this takes more than a hour, so it doesn’t really fit into a list about 7 hours for healthier finances, but it is a good way to get all the value out of the insurance you purchase if you ever need to use it.

I created a blog post recently on why you should create a household inventory (click on my name for the link). I know it can be a dull subject and also one people don’t want to think about very much — what if I lost everything? No fun.

But if you are going to bite the bullet and take this great advice from NCN and really think about your insurance, you should also think about how to make it really work for you with a household inventory. You can also contribute a story of when you needed a household inventory. I have lots of stories I could tell, but they involve my clients so I have not given any specific stories, but some of them are heartbreaking.

I also created a companion article on how to create a household inventory quickly and easily, and what information it should and does not have to include.

http://www.household-management-101.com/household_inventory.html

Check it out if you’re interested!

]]> By: frugalcpa http://www.ncnblog.com/2009/02/10/dedicate-7-hours-for-healthier-finances-hour-7/comment-page-1/#comment-146583 frugalcpa Wed, 11 Feb 2009 16:16:07 +0000 http://www.ncnblog.com/?p=2174#comment-146583 My tax professor likes to question people about their life insurance and make sure they understand what they're betting on, what the insurance company is betting on, and who will benefit in the end. I don't have any life insurance yet, but plan to get term when my wife gets pregnant for the first time. That way we'll be covered during the years I'm needed as a provider, but we'll get out of life insurance altogether when I've had a chance to develop our own savings and investments. My tax professor likes to question people about their life insurance and make sure they understand what they’re betting on, what the insurance company is betting on, and who will benefit in the end. I don’t have any life insurance yet, but plan to get term when my wife gets pregnant for the first time. That way we’ll be covered during the years I’m needed as a provider, but we’ll get out of life insurance altogether when I’ve had a chance to develop our own savings and investments.

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