Single Mom Financial Help: Paying Bills And Saving Money Is Tough

By Jenna Ekuban

As a single parent, a mother has to overcome all the odds stacked against them with work and family. Money is limited, expenses are increasing and your kids need you. You may have plenty on your plate at the moment. So sit back, put your feet up and relax for a while. You need some quality mommy time right now.

As a single parent, you have to work throughout the day as if you are a machine. It shouldn’t be that way! It is understandable that you are low on money and your bills keep you on your toes month after month. And possibly running low on repayments, you may have to cope with collection notices as well. No one likes to be in debt at all, you are entitled to be in a free and secure state of mind as a single mother and for the sake of the kids. There are a few things you can do to cut down on those bills and take care of your family’s needs accordingly.

It is already a hassle if you work a low-income job, and there could be a possibility that you have to work two jobs to barely save up for your monthly expenditures. Give yourself some credit, and take some time off. You can plan out your month, set a budget and limit the use of credit cards if you have one.

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You can start with your monthly planning by summing up how much of you salary you will end up with at the end of the month. Organize your bills, if possible, make partial payments so you don’t have them increasing and then pay the entire amount. Set a budget for your weekly groceries, and your kids’ shopping, such as school supplies and lunch money etc.

Once you have that settled, plan out when you are going to pay off your bills. Being a single parent is as tough as it sounds, but setting a budget really adds to your work load in your day. But this is truly beneficial for you.

Suppose you are just completely out of finances and you need a tremendous amount of help. Government financial help is out there, but you have to do a whole lot of searching and contacting the right people. There is plenty of financial aid that is available, you can check out a few and see if you qualify for one.

It could be a government loan if you are greatly in debt, or you could apply for welfare if required. However, you have to look around and see who can provide you the best option. This doesn’t necessarily mean that you will be able to save up your money, but this will help you out in that crucial time in your life.

The best thing you can do is set a budget and save what ever you can, plan out your daily or monthly expenses and follow them accordingly. You can still do that while you are offered financial help from the government as well. Help is all around you, all you have to do is look in all the right places.

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Life Insurance: Beneficiaries To Life Insurance Policies Are Crucial

By Dan Theron

Life insurance beneficiaries are people you name in your policy which will receive a death benefit if you should die. If you choose not to name a beneficiary, then a death benefit will be paid out to your estate. This article takes a fast look at the beneficiaries of life insurance policies.

Life insurance is used for the purpose of providing a payment of money after the death of the person who was insured by the policy. The insured person is mentioned in the policy as being the person covered by it. The money payment from the policy in the event of the passing away of the insured is called the death benefit. It is paid out to beneficiaries mentioned in the policy contract.

What is a beneficiary?

This person is nominated in a life assurance policy contract to receive the death benefit. You are able to nominate a single person or more, a trustee, a charity or just your estate.

There are basically two types of beneficiaries. They are a primary and a contingent nomination. The primary person receives a death benefit if she can be contacted after your death. In case the primary person cannot be found, then the contingent person will receive the death benefit. If both are missing the benefit is paid to your estate.

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The beneficiaries of your life insurance policy should be clearly identified to prevent possible confusion. You can include a social security number for each relevant person you name. Provide full names of the people you choose.

There are more types of beneficiaries as well. Let us take a look at them.

Final beneficiary — This person or entity will receive a death benefit if they outlive the other ones. This level is usually reserved for aunts and uncles or a charity of your choice.

Multiple beneficiaries — When choosing multiple individuals to receive the death benefit, it is important to state clearly how much each individual should get.

Many married people choose to name their spouse as a primary beneficiary. Be mindful when choosing to name an executor, creditor, or a minor to receive a life insurance policy death benefit.

It is important to regularly update your policy information with regards to the beneficiaries. This is especially important after events such as a divorce or child birth.

Be mindful of these tips to help you with life insurance beneficiaries.

* Designate both primary and contingency persons.

* Provide their full name and state their relationship to you.

* Clearly define how the death benefit is to be divided between the beneficiaries.

You should be certain to buy enough life insurance for your particular needs. You should also match the duration of the policy to your individual needs. Buy life insurance when you are healthy since this will ensure a lower premium.

The beneficiary receives a face value of the policy if the policyholder dies within the specified duration of a policy. If the insured person survives this period, then the beneficiaries may receive no benefit. This is the old motive for murder you regularly see on murder mysteries on television. In the case of whole life insurance, this is less of a problem since they stay in force for up to 100 years of age.

About the Author: Copyright 2008 – Dan Theron.

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