4 Financial Tips to Keep Your Family Safe
First and foremost, Life Insurance, Life Insurance, Life Insurance. we can’t stress it enough especially if you have a family. Unless you are already financially sounds for this and the next generation you need some form of immediate coverage to make up for your future successes if you are unable to complete the journey. Life insurance for the kids protects them so that if one day they are un-insurable they have some form of a policy they can use to help cover their family one day.
Invest Invest Invest. You can never have too many investments. Investing is saving and saving is not spending the money today but tomorrow. Investing creates wealth and wealth keeps a family financially sound during hard economic times. There are many ways to invest don’t just think stock market. Speak with a financial adviser or accountant to find out what investments would work for your financial situation.
Debt to income, keep this within reason. One of the downsides to the housing market crash was that people debt to income was maxed out and when the lenders asked for more there was no more to give them. Having a debt that one income earner can handle is the best protection to keep a family safe.
Credit score, you may not think of a credit score as a money maker but it is. The better your score the lower your insurance payments, the lower your mortgage payments, the lower your credit card payments, the lower your …….etc. You get the drift, the difference between two families with a 100 point difference can add up to thousands of dollars extra spent each year. This is savings that could be building from an investment.