A little planning can go a long way. So whether you’re looking for a life insurance coverage with savings that everyone can enjoy, or an investment that protects you and those you care about, find what you need here.
We’ve made it even more convenient for you to enjoy life with our hassle-free payment system by giving you the freedom of choice. Choose a payment method that is more suitable for your needs.
There’s probably a handful of so-called “financial tips” that you hear from your friends, your parents, even from the pros. But not all of them are useful. Some may even set you up for failure. Here are four common financial tips that you should NOT take heed.
The way people hand out financial advice, it’s like everyone’s an expert. And to add to your confusion, they contradict each other most of the time. If you don’t know what to heed from all the financial advice you are bombarded with, left and right, don’t panic. Here are four financial tips you’re better off ignoring:
1. Avoid Using Credit Cards
Credit cards are actually helpful when you use them wisely. They make it possible for you to pay for items you don’t have the money for yet like dental work or that plane ticket to Europe. As long as you make sure to pay your credit card bill on time and in full, you should be fine. Plus, you can get more bang from your buck by taking advantage of credit card rewards program and deals.
2. Don’t Ever Get Into Debt
Debts are not bad. It’s how you use them that’s crucial. If you’re incurring debt just to et that new gadget, don’t. Never incur debt if you won’t get your money back with interest. There are, however, certain types of debt that will help you achieve your goals. A perfect example for that is a business loan, which will help you earn more. No matter what type of debt you have, it is important to never borrow more than what you can afford to pay back on time.
3. You Don’t Need Life Insurance
People think that life insurance is not a necessity if you are young or single. Since you will purchase one in the future anyway, why not buy one while you’re still young? Monthly payments are low when you’re young and you still have time to grow your money. There are insurance plans that combine investment and protection. And the longer you’re protected, the more time your money can earn interest.
4. Owning a Home is Always a Great Investment
If you don’t want the responsibility of maintaining a house, then there’s nothing wrong with renting. A lot of people believe that owning a house can save you more money, but in fact it may become even more expensive in the long run. The upkeep, for example, can be very expensive. Remember, too, that not all “houses” appreciate in value. Some condo units, for instance, depreciate as years go by. Though purchasing a house has its own benefits, it’s still not the right choice for everyone.