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These Forgotten Costs Often Sink Us
from Bigg Success November 17, 2008
We try not to make financial decisions in a vacuum. We strive to factor in all the relevant pieces before making a major purchase. But there are some costs that we often fail to factor in that can make a significant difference. We often fail to factor in future flows of money. ___ ___ We expect a certain percentage pay raise. So we spend money as if it has already happened. It s especially important in times like these that we don t spend money before we know we have it. Another thing we often do is count on a bonus. If it doesn t materialize, we re in trouble as we learned from Clark Griswold in Christmas Vacation. We sure don t want our brother tying up our boss! What about increased insurance costs? Is it likely that you ll pay more for health insurance next year? How about insurance for your house or car? Insurance costs can rise significantly from year to year. Do you have a variable rate mortgage? Have you considered a projected increase in the rate and the associated increase in your mortgage payment? Have you thought about what might happen with recurring expenses? Cable bills, power bills, and water bills all seem to rise from year to year. Affording it now isn t good enough You may finance a major purchase. Sure it s only $100 a month. You can cover it now. But if it stretches your budget to its limit, it s likely you won t be able to cover it next year. You ll start sinking and soon end up underwater, in a financial sense. You ll run out of money before you run out of month! It s important to have a safety net spending less than what you make each month. A tool businesses use We often don t think about it this way, but we all run an organization our households. Just like any organization, we have inflows and outflows of money. Reasonably sophisticated business people work from a budget. Yes, the b word. Many people do treat budgets like a dirty word. But they re a great tool. And they re especially important if you don t have any money left over at the end of the month. It s important to understand why. You can use Quicken, Excel or any number of ways to create your budget. Many business people don t just budget for one year. They look at projections over three years or more. These budgets don t have to be elaborate just plot out your main sources of inflows and outflows. The power of the tool Once you have a budget set up, you can look at what if scenarios. For example, what if: you don t get a pay raise you (or your spouse) lose a job the cost of health insurance (or any other cost) rises more than you expect? you make this major purchase? When you create a budget, you re applying Stephen Covey s begin with the end in mind and put first things first (from The 7 Habits of Highly Effective People) to your finances. You re considering all your costs both now and in the future. Then you can see the impact of major purchases on your overall finances so you make the best decision going forward. You can run your finances intentionally, rather than ad hoc. You can prepare for contingencies so you survive no matter what. Then you can shift your focus to thriving! ___ Get the tips and tools you need to be a BIGG success! Subscribe to the Bigg Success Weekly it s FREE! ___ Thanks for stopping by today. Next time, we ll discuss how assumptions we make about time leave us overextended. Until then, here s to your bigg success! Subscribe to The Bigg Success Show in iTunes. Subscribe to the Bigg Success feed. Direct link to The Bigg Success Show audio file: http://media.libsyn.com/media/biggsuccess/00266-111708.mp3 Related posts Don't Make This Costly Mistake Getting Aggressively Passive: Creating A Passive Income That Sets You Free How To Get Rich 6 Easy Steps To Financial Freedom (Image by bbrouw83)
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Save Money on Arizona Health Insurance
from popular posts - blip.tv (beta) September 19, 2008
www.IronsFamilyInsurance.com-- Quality health insurance at an affordable price! Free online quotes! One simple form and get the most competative quotes from the nation's top insurance companies.www.ironsfamilyinsurance.com covers Arizona, USA, Phoenix, AZ, Mesa, Tucson, Chandler and Scottsdale. : - affordable medical programs - Health Insurance
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Arizona Health Insurance--5 Tips to Save Money
from popular posts - blip.tv (beta) September 17, 2008
WWW.IRONSFAMILYINSURANCE.COM-- Learn 5 Ways to Save money on your Arizona Health Insurance. Quality health insurance at an affordable price! Free online quotes! One simple form and get the most competative quotes from the nation's top insurance companies.www.ironsfamilyinsurance.com covers Arizona, Phoenix, AZ, Mesa, Tucson, Chandler and Scottsdale--ALL OF ARIZONA. : - affordable medical programs - Health Insurance
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Washington Insurance Commissioner's Race
from KUOW News Podcast September 09, 2008
Have you ever read the fine print on your insurance policies? If not you're probably not alone. That's one reason why Washington State has the Office of Insurance Commissioner: To regulate insurance companies and make sure consumers get what they pay for. But it's also becoming a bully pulpit for healthcare reform. Correspondent Austin Jenkins reports on the race for Insurance Commissioner.
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what are discount health plans?
from Revver - medical Videos July 25, 2008
Author: paul307 Added: Thu, 24 Jul 2008 20:37:22 -0800 Duration: 205http://www.oxoniainsurance.com/#videos" If you're one of the dwindling few who receive health insurance through an employer, you may already be familiar with the decision to purchase a family or an individual insurance plan. In most of those cases, your premiums are very low if only you are going to be covered. However, the moment you add a spouse and/or children to the equation, your premiums are going to increase dramatically. Unfortunately, the same is true if you have to purchase your own medical insurance. If you want coverage for your entire family then expect to pay more. Although price will definitely be a factor, you don't want cost alone to be the basis of your decision. There are a myriad of other factors you want to take into consideration when buying a family health insurance plan.
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What To Look For When Buying Health Insurance
from Revver - medical Videos July 21, 2008
Author: paul307 Added: Mon, 21 Jul 2008 18:40:09 -0800 Duration: 300watch more videos here!! http://www.oxoniainsurance.com/#videos" Oxonia Insurance Group offers Individual and Family plans from Top Rated Major Medical Providers. If you or your family are not able to qualify for Major Medical Coverage ask about our Guarantee Acceptance Limited Indemnity Plans from SureHealth. With all of these Quality Health Insurance options to choose from you are sure to find the coverage that is right for you at a price you can afford. Yes, it IS that Simple...just make one phone call to the number above and one of our friendly licensed insurance agents will help you compare several plans from top health insurance providers.
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