RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

3 No-Fail Tips to Save Money

October 11, 2016 12:45 am


If you want to build the emergency fund you know you need to have—but find yourself living from paycheck to paycheck without saving a dime—it’s time to put a no-fail savings plan in place. Here are three tips to get started, courtesy of The Motley Fool:

1. Strictly Track Spending – You may think you know where your money goes each month, but chances are you have no real idea about how much is slipping through the cracks. For at least one month, list every penny you spend, from rent and utilities to your morning coffee, those hard-to-get concert tickets and the pair of shoes you found at half-price. Take a hard look at your spending and figure out exactly where you can cut out or cut back—and do it!

2. Pay Yourself First – You can’t spend what you don’t have, so sign up for an automatic savings plan so that a set portion of every paycheck goes automatically into savings before you can spend it. Once you’ve saved enough to cover three to six months of living expenses, focus on starting to contribute—or contributing more to—your employer’s 401(k) plan, if offered.

3. Help Resist Temptation – Impulse purchases can derail anyone’s saving efforts. Avoid sales unless there is something you really need, or stay focused only on what you came to shop for. Take only enough cash for what you need to buy—leave your credit card at home. It’s discipline that counts!
 

Published with permission from RISMedia.


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Study: Homeowners Save Most When Combining Insurance

October 11, 2016 12:45 am


Insurance providers often offer discounts to incentivize policyholders to bundle insurance. The savings depend on the type of insurance being combined, as well as the state the policyholder lives in, according to a recently released study by insuranceQuotes.

“Discounts for bundling auto and home, condo or renters insurance vary by state, and can help many consumers save more than $500 per year,” said Laura Adams, senior insurance analyst for insuranceQuotes, in a statement on the study. “Combining policies with the same insurer is a simple and easy way to reduce premiums.”

Policyholders who bundle auto and homeowners insurance reap the most savings at an average $314 per year, according to the study. Homeowners policies are more expensive than those for condo owners or renters, so the savings are more substantial.

The states with the highest average savings are:

1. Louisiana ($584/year)
2. Oklahoma ($541)
3. Texas ($473)
4. Kansas ($444)
5. Mississippi ($430)
6. Arkansas ($421)
7. Minnesota ($418)
8. Alabama and Missouri ($414)
9. Nebraska ($395)
10. Illinois ($392)

In some cases, however, bundling does not maximize savings, Adams cautioned. It is important to shop around for policies, even if they are from different insurance providers.

“Combining policies usually saves money; however, there are scenarios when using separate providers could be a better option,” said Adams. “Always compare quotes both bundled and unbundled.”

Source: insuranceQuotes
 

Published with permission from RISMedia.


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