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Debit Cards and Motorcycles Just Aren't Safe
For decades, I've pleaded with you to not use debit cards because they are not safe. And for years, I warned my sons about the dangers of riding motorcycles because they are not safe.
Has anyone listened and taken heed? Debit cards are more popular …Read more.
Overspent and Overloaded? You Need Margin
Bill Smith sits down to his most dreaded chore — paying bills. Every month, it's the same story: Pay the most urgent, and leave the rest. There's never enough money, no matter how hard he works.
Jane Miller flies into the school office …Read more.
Bounce Back From Bankruptcy
Dear Mary: Please give me some pointers on bouncing back from bankruptcy. Will this have any effect on future employment opportunities? — Henry, email
Dear Henry: Live on cash. Have only one credit card, and if you use it, pay it in full every …Read more.
With Knowledge Comes Savings
Many things that we buy are simply not negotiable. The salesperson at Macy's won't negotiate with you over the price of that newly arrived collection. The supermarket checker won't haggle with you over the price of eggs. But a ring at your local …Read more.
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Confusing Insurance PolicyDear Mary: I read your column all the time and can't thank you enough for all the helpful money-saving hints you print. My mom bought 20-year term life insurance policies for my two sons when they were young in the 1970s. I know she finished paying on them, and I know she didn't cash them out. When my kids were in their late 20s, Mom told me she was going to give the policies to them so they could put whatever beneficiary they wanted on them. After she passed away, I found that neither of my sons even knew these policies existed. Now what do I do? — Judith, email Dear Judith: This is confusing. You say she bought 20-year term life insurance policies. The nature of term insurance is that it provides coverage for a period of time, in this case 20 years. As long as your mother paid the premiums, the insurance was in effect. After 20 years (sometime in the 1990s), the insured (your sons) could either drop the policy or pay annually increasing premiums to continue the coverage. It sounds like they didn't continue the coverage. Term insurance, unlike whole life, has no cash value. How term insurance works is simple: If the insured dies during the term and the policy premiums are current, the beneficiary receives the face value on the policy as a death benefit. Once the term is up, if the policy is not renewed, it's over. For readers considering life insurance on kids, consider that Judith's mother would have been wise to put those insurance premiums into a savings account, instead.
Dear Mary: My husband and I want to thank you. We got your "Debt-Proof Living" book many years ago, and worked to get out of debt and fund our Contingency Fund. The only debt we have is our home. We only have one credit card, and we pay the balance in full. Our Contingency Fund is fully funded and even has extra money in it. We recently learned that my husband will be laid off soon. He has begun looking for another job, and we are cutting everything we can. I work full time in a local government job. You helped us prepare for this, and we are very grateful. We just wanted to thank you so much. — Doris and Elliot, Virginia Dear Doris and Elliot: I am sorry to hear you will be facing unemployment soon, but thrilled to know that you are well prepared. I truly believe that God uses financial challenges to bring clarity to our minds on what really matters in life and what doesn't. Thanks for your kind words, and please stay in touch so we can encourage one another in the coming days. Do you have a question for Mary? Email her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2099, Cypress, CA 90630. Mary Hunt is the founder of www.DebtProofLiving.com, a personal finance member website and the author of "7 Money Rules for Life," released in 2012. To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2013 CREATORS.COM 
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