(407,1,'2020-05-25 23:27:54','2020-05-25 23:27:54','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Should You Increase Your Insurance Deductible to Save Money?</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Raising your<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible</a><span> </span>will save some money on your insurance costs, however, the amount of money you save may not be what you think. Your insurance deductible will directly affect<span> </span><a href=\"https://www.thebalance.com/what-is-actual-loss-2645738\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">how much you get paid in a claim</a>, but you can save thousands of dollars if you increase your deductible using the right strategy.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Here is everything you need to know to figure out if choosing a higher deductible will save you money.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"9c18c86741764c8bada74937076ada9f\" data-auction-floor-value=\"240\" data-google-query-id=\"CMSbqL-T0OkCFVAbYgodXlEKvw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard2_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Should You Increase Your Deductible?</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you have the money on hand and are willing to pay for damages resulting from a claim, then you can increase your<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible</a><span> </span>to save on costs. If you can afford it, then take the savings your insurance company will give you and start saving money now. However, you don\'t want to make the mistake of increasing your deductible to save a few dollars a month before considering the long-term implications. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"1037aa8329a5404eb09f87146b39adb9\" data-auction-floor-value=\"165\" data-google-query-id=\"CPz3wL-T0OkCFRHhYgodcNUPSw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>That\'s the short and simple answer, but it may not be enough information to give everyone a conclusive answer on what they should do. This in-depth overview should help you understand the impact of increasing your deductible, including the ways it can save you money (or cost you money) in the short-term and long-term.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Where to Find Your Deductible Information</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>To start with<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">the basics about insurance deductibles</a>, you first need to know how much your deductible is currently. You will be able to find this information on<span> </span><a href=\"https://www.thebalance.com/what-is-an-insurance-declaration-page-2645728\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">the declaration page of your insurance policy</a>. Sometimes, different coverages have different deductibles. Your earthquake coverage may be different from your<span> </span><a href=\"https://www.thebalance.com/how-to-handle-water-damage-claims-3860314\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">water damage</a><span> </span>or flood insurance, for instance.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>Don\'t forget to explore the opportunities to save money from the different deductibles on<span> </span><a href=\"https://www.thebalance.com/insurance-endorsement-or-rider-2645729\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">endorsements</a><span> </span>or other areas of your policy as well.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">What You Need to Think About Before Increasing Your Deductible</span></h2>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>The toughest thing about insurance is that the less money you have, the more important it is to have insurance to protect you if something goes wrong. If you are<span> </span><a href=\"https://www.thebalance.com/policy-canceled-for-non-payment-2645553\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">struggling to come up with the money to pay for your insurance</a>, you may want to think twice about increasing your deductible. Here are three things to consider.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">The Actual Cost of Your Insurance</span></h3>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>An increased deductible provides a percentage discount off the cost of the insurance. If you only spend $300 on your insurance, you would need a significant percentage discount to see real savings—especially compared to the cost of making a high-deductible claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>For example, do you really want to pay a $1,000 deductible in a claim to save $30 a year? What about if you save $100 in a year? You need to do the math to see if the savings make sense. The higher your insurance costs, the more you will save by increasing the deductible.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">Why You Have Insurance</span> </h3>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you are in a stable financial position and would likely take care of small issues yourself (without making a claim), it can make sense to get a higher deductible. If, for instance, you would never make a claim for under $1,000 on your car because you can afford to pay for it yourself, then a higher deductible of $1,000 makes a lot of financial sense.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>On the other hand, if you are worried about your ability to cover any amount of unexpected costs, then you\'re better off paying a few more dollars in insurance every year to get a deductible you could afford. Once you start to build some savings, you can revisit the issue and look into increasing your deductible. </p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">How Often You Make Insurance Claims</span></h3>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you think you will never have to make an insurance claim, you can take a risk by increasing your deductible. \"Risk\" is the keyword here. You may have never made a claim in your life, but you never know when you\'ll need to. Remember that the deductible represents the direct financial impact you are willing to personally accept if you need to make a claim. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"native-placeholder_2-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you have a history of<span> </span><a href=\"https://www.thebalance.com/insurance-company-cancelling-policy-2645554\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">making too many insurance claims</a>, there is a good chance you are already paying a lot of money for insurance. Making more claims when it is not necessary will increase your overall insurance costs. Therefore, taking a higher deductible to avoid making smaller claims may pay off. You should always<span> </span><a href=\"https://www.thebalance.com/insurance-company-cancelling-policy-2645554\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">negotiate with the insurance company</a><span> </span>when you are paying high premiums to see how you can find a better price. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [4, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"dbff504a20214a7fac3f54f844e2fd3b\" data-auction-floor-value=\"180\" data-google-query-id=\"COy3keKT0OkCFYyFYgodRskN_g\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you never make insurance claims and you can afford a higher deductible, then you should consider increasing your deductible. Every year you avoid making a claim, extra money from the higher deductible plan will be in your pocket instead of the insurance company\'s.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard5-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard5-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard5-dynamic_2-0\" class=\"comp js-billboard-lazy billboard5-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard5\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf4\" data-priority=\"7\" data-sizes=\"[[300, 250], [300, 254], [6, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"59d731bfa4d6478abb345da2b89a89bc\" data-auction-floor-value=\"160\" data-google-query-id=\"CNOIrOKT0OkCFcp2YgodwSEAqA\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard5_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>For example, say you take a higher deductible of $1000 to save $100 on your annual insurance costs. After five years, you haven\'t made a claim, and you\'ve saved $500. In addition, five years without claims could also make you eligible for a claims-free discount, saving you even more money on your insurance costs.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\">\n<div id=\"billboard6-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard6-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard6-dynamic_1-0\" class=\"comp js-billboard-lazy billboard6-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard6\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf5\" data-priority=\"8\" data-sizes=\"[[300, 250], [300, 255], [7, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"7dffa7996d214977afbe045cc069d3b1\" data-auction-floor-value=\"175\" data-google-query-id=\"CMWR0eKT0OkCFQbhYgod5I0Acg\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard6_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>The reason higher deductibles work better for some than others has to do with individual risks and financial capability. For example, many<span> </span><a href=\"https://www.thebalance.com/what-is-high-value-home-insurance-and-is-it-worth-it-4172828\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">high-value home insurers</a><span> </span>have clients with $2,500 to $10,000 deductibles. These deductibles may be high for the average homeowner, but they make a lot of sense for higher valued homes and the relatively wealthier people that own them.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-36\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">How Much Can Raising the Deductible Lower Your Insurance Costs?</span></h2>\n<div id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>You\'re looking to <a href=\"https://www.thebalance.com/the-average-cost-of-home-insurance-4584408\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">reduce the cost of home insurance</a>, <a href=\"https://www.thebalance.com/condominium-and-coop-essential-insurance-guide-4068492\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">condo insurance</a>, or <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">car insurance</a>, but just how much will a higher deductible impact your insurance costs? </p>\n</div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_9-0\" class=\"comp mntl-block\">\n<div id=\"billboard7-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard7-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard7-dynamic_1-0\" class=\"comp js-billboard-lazy billboard7-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard7\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf6\" data-priority=\"9\" data-sizes=\"[[300, 250], [300, 256], [8, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"975521d71a8b475d82b4221a2e340000\" data-auction-floor-value=\"165\" data-google-query-id=\"CKnL6-KT0OkCFWODfwQdZ_ADew\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard7_0__container__\"><span style=\"font-size: 26px; color: #333333; text-align: left;\"><br />What\'s the Discount for Increasing Your Deductible?</span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>Depending on how high you increase the deductible, you could expect to save roughly 5% to 10% on your premiums. The more you increase your deductible, the higher the percentage discount becomes.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-41\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>As an example, you can expect to save between 15% and 30% on your car\'s collision and comprehensive coverage by increasing your deductible from $200 to $500.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-2\"><span>2</span></span> If you go up to $1,000, you could potentially save 40%<strong>.</strong></p>\n</div>\n<div id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>The same logic applies to home insurance. Depending on your insurance company, increasing your deductible from $500 to $1,000 could reduce your insurance costs by up to 25%.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-3\"><span>3</span></span> Over time, you might save thousands by strategically increasing your insurance deductibles and avoiding small claims.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-45\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-46\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">How Much You Can Afford to Increase Your Deductible?</span></h2>\n<div id=\"mntl-sc-block_1-0-47\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Increasing your deductible is just one way to<span> </span><a href=\"https://www.thebalance.com/getting-your-first-home-insurance-policy-4040509\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">save money on home insurance</a>, <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">car insurance</a>, or any other type of insurance. It\'s a popular option for people looking to save because it\'s the easiest to do <em>right now.</em> However, while you will immediately save money on your premium, increasing your deductible may cost you money in the long-term, if you can\'t afford to make a claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-48\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-49\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you have set aside an emergency fund specifically for car accidents or similar events, then that makes it easy—the deductible you can afford is the amount of your emergency fund. However, if you have a mixed savings account that includes car accident funds alongside other emergency funds, then it may be more difficult to separate out how much you could afford to pay as a deductible.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-50\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-51\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>&nbsp;</p>\n<p>When you insure your home and car through the same insurer, you may be able to pay a single deductible for a claim that affects both. This can save you money.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-52\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Example of High Deductible Savings Gone Wrong</span></h2>\n<div id=\"mntl-sc-block_1-0-53\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>As an example of how high deductibles can end up costing you more money in the long run, consider this example.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-55\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>You take a higher deductible of $1,000 and save $100 a year on your insurance costs. You\'re happy because you see it as saving $100 a year. After five years, you haven\'t made a claim, and you\'ve saved a total of $500.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-56\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-57\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>Then, in the sixth year, you have to make a claim. You\'ve saved $500, but that\'s only half of the $1,000 deductible you now have to come up with. Not only are you in the middle of a stressful insurance claim, but you\'re worried about how you\'ll afford to pay the deductible. You might have been better off paying more for the lower deductible plan.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-58\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-59\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Other Ways to Save Money on Your Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-60\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you are still looking for ways to save money on your home insurance, you may want to check out your<span> </span><a href=\"https://www.thebalance.com/how-to-choose-best-home-insurance-coverage-4016846\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">home insurance coverage options</a><span> </span>and see if you have the right policy for your needs. Insurance companies actively compete for customers, so it might pay to shop around for your insurance or <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">negotiate with your car insurance</a> or home insurance company.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-61\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-62\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Your Insurance Policy Should Change With Your Needs</span></h2>\n<div id=\"mntl-sc-block_1-0-63\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">An insurance company that was well suited to your needs five years ago may not be the best company to insure you now.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-64\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-65\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">Sometimes it\'s worth </span><a href=\"https://www.thebalance.com/paying-penalty-for-canceling-insurance-worth-it-2645556\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"font-size: 14px;\">paying a penalty for canceling</a><span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">with one insurance company to get a better insurance deal with a new one. You may only need to call your insurance company and tell them you\'re ready to shop around—they may come up with some new ideas on how to save money so they don\'t lose you as a customer.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-67\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Learn About Your Deductible Waivers</span></h2>\n<div id=\"mntl-sc-block_1-0-68\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>The<span> </span><a href=\"https://www.thebalance.com/home-insurance-large-loss-deductible-waiver-4119928\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible waiver</a><span> </span>on a home insurance or condo insurance policy is a clause that waives the deductible in the event of a large loss.<span style=\"font-size: 14px;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-70\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Every insurance company will take a different approach to whether they offer a deductible waiver, and it may not be easy to tell how it applies to you. Even if your plan includes waivers, it may have been tucked away in some densely worded part of your insurance policy. Better understanding when the deductible waiver will apply may allow you to comfortably sign up for a higher deductible plan. The best way to clear it up is to directly ask your insurance representative if there is a deductible waiver in your insurance policy, and if so, when it kicks in.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-72\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">For example, some policies might have a deductible waiver for losses of over $10,000. Other policies may have a very high threshold before deductible waivers kick in, like</span><span style=\"font-size: 14px;\"> </span><a href=\"https://www.thebalance.com/home-insurance-claims-and-rebuilding-4042916\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"font-size: 14px;\">major claims</a><span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">or losses over $50,000. If you\'re only insuring yourself for a major loss like a fire, it could make sense to take full advantage of these waivers by seeking a higher deductible.</span></p>\n<p><span style=\"font-size: 14px;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-74\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Deductible Waivers on Car Insurance</span> </h2>\n<div id=\"mntl-sc-block_1-0-75\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Car insurance policies sell deductible waivers, as well. However, unlike with home insurance plans, deductible waivers generally increase the cost of car insurance. While deductible waivers are nice, you\'ve got to ensure that it doesn\'t come with extra costs that outweigh the benefits.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-77\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Use Your Increased Deductible to Save Money</span></h2>\n<div id=\"mntl-sc-block_1-0-78\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you decide you can afford to increase your deductible and save 10% or 40% on insurance, consider putting the savings on insurance costs into an emergency fund bank account. As your savings grow, you can increase your deductible accordingly, and then save even more on insurance.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-79\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-80\" class=\"comp theme-experttipnote mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>&nbsp;</p>\n<p>If you never have to make a claim and pay that higher deductible, then all that extra money stays in your pocket. On the other hand, if you end up needing to pay your deductible, you\'ve got the money ready. It\'s a win-win for you.</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-81\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-82\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>You can save hundreds (if not thousands) of dollars on your insurance by developing a strategy that balances your financial situation with deductible amounts. Ask your insurance representative to assess your insurance choices and recommend some options to save money. Always do your research, and don\'t forget, you may end up paying less and getting more by <a href=\"https://www.thebalance.com/paying-penalty-for-canceling-insurance-worth-it-2645556\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">switching to a new insurance company</a>.</p>\n<p>&nbsp;</p>\n</div>\n<p>To read the full article, <a href=\"https://www.thebalance.com/how-to-use-your-insurance-deductible-to-save-money-4075986\" style=\"font-size: 14px; text-align: left;\">click here</a><span style=\"font-size: 14px; text-align: left;\">.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Should You Increase Your Insurance Deductible to Save Money?','','inherit','closed','closed','','400-revision-v1','','','2020-05-25 23:27:54','2020-05-25 23:27:54','',400,'http://smartinsurance.tips/400-revision-v1/',0,'revision','',0),(411,1,'2020-05-26 16:52:07','2020-05-26 16:52:07','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>If you\'re collecting unemployment, get ready for a hefty tax bill</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<p style=\"text-align: left;\"><img src=\"https://www.gannett-cdn.com/-mm-/421128acc9d659ef486d162910353b3eb2465ee5/c=0-266-5121-3147/local/-/media/2020/05/19/USATODAY/usatsports/woman-finance-calculator-laptop-notebook.jpg?width=3200&amp;height=1801&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" width=\"799\" height=\"450\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Millions of Americans have been hit hard financially due to the coronavirus pandemic. Approximately 36.5 million U.S. adults have filed for unemployment benefits over the past two months, according to the Department of Labor, and if the virus isn\'t contained soon, that number could continue to skyrocket.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Even with the help of unemployment benefits, however, many people are still struggling. To provide relief, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided millions of Americans with </span>stimulus checks<span style=\"color: #000000;\"> and also allowed unemployed workers to collect an additional $600 per week in unemployment benefits.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While stimulus checks are tax-free and won\'t count toward your income, unemployment benefits are a different story. If you\'re receiving benefits now, there\'s a good chance you could be hit with a hefty tax bill later.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">How your unemployment benefits are taxed</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Unemployment benefits have always been subject to federal taxes (and potentially state and local taxes, depending on where you live), but the additional $600 per week could result in a bigger tax bill.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The CARES Act was passed in late March, and it extends the $600 per week benefit boost through the end of July. That means if you collect this extra money each week for the four months it\'s available, it will amount to nearly $10,000 in additional unemployment benefits. That\'s a good chunk of change that can provide serious financial relief, but if you\'re not prepared to pay taxes on that extra benefit money, your tax bill could take you by surprise.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Exactly how much you\'ll pay in taxes on your benefits will depend on where you live. Some states, including Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming, don\'t have state income taxes, so you may get a tax break on your unemployment benefits. Other states, such as California and New Jersey, generally tax income but make an exception for unemployment benefits. To figure out whether you\'ll owe state taxes on your benefits, check your state\'s tax laws.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">When it comes to how you want to pay these taxes, you have a few options. You can have the money withheld from each check, you could pay your taxes quarterly, or you can pay your entire tax bill when you file your tax return. There are advantages and disadvantages to each option, so consider each one carefully before you decide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">The best time to pay your taxes</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re worried about owing a lot of money in taxes, you can opt to have your taxes withheld from each check. That way, you won\'t be slapped with a massive tax bill if you wait until you file your tax return to pay what you owe.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, the downside to this approach is you won\'t have as much spending money right now. If you\'re trying to stretch every penny, it might be a better idea to hold off on paying taxes until your financial situation improves. You may need to make a bigger tax payment later, but you\'ll also have more money to pay your bills right now.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The middle ground between these two options, then, is to</span><span> </span>pay your taxes quarterly<span style=\"color: #000000;\">. This approach is a bit more complicated, because you\'ll need to estimate how much you\'ll owe in taxes each quarter – which may prove difficult if you don\'t know how long you\'ll be collecting unemployment benefits. If you believe you\'ll be able to find a new job relatively soon, you may choose to simply wait until you file your tax return to pay your unemployment taxes. But if you think you\'ll be collecting unemployment benefits for the foreseeable future, paying estimated taxes can help you avoid a big tax bill while keeping more money in your pocket for day-to-day expenses.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The</span><span> </span>coronavirus pandemic<span> </span><span style=\"color: #000000;\">has cost millions of Americans their jobs, and unemployment benefits are a lifeline for those struggling to make ends meet. Just be sure you\'re prepared for the tax bill that will follow, so you\'re not caught off guard by this expense.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re like most Americans, you\'re a few years (or more) behind on your retirement savings. But a handful of little-known \"Social Security secrets\" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we\'re all after.</span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"COb1tKT90ekCFUMfKgodY9oI7g\"></div>\n</aside>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.usatoday.com/story/money/2020/05/22/collecting-unemployment-benefits-tax/111802250/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','If you\'re collecting unemployment, get ready for a hefty tax bill','','publish','closed','closed','','if-youre-collecting-unemployment-get-ready-for-a-hefty-tax-bill','','','2020-05-26 23:51:16','2020-05-26 23:51:16','',0,'http://smartinsurance.tips/?page_id=411',0,'page','',0);
INSERT INTO `smart_posts` VALUES (412,1,'2020-05-26 16:52:07','2020-05-26 16:52:07','<!-- wp:divi/placeholder /-->','If you\'re collecting unemployment, get ready for a hefty tax bill','','inherit','closed','closed','','411-revision-v1','','','2020-05-26 16:52:07','2020-05-26 16:52:07','',411,'http://smartinsurance.tips/411-revision-v1/',0,'revision','',0),(415,1,'2020-05-26 16:58:51','2020-05-26 16:58:51','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 style=\"text-align: center;\"><strong>Gifts for Grads to Build Good Money Habits</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.kiplinger.com/kipimages/pages/22097.jpg\" width=\"800\" height=\"526\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">What do parents and grandparents give as a gift to the college graduate of 2020, who faces a cratering job market and shoulders an average of $29,900 in student loan debt? The short answer is financial help, but that doesn’t mean showering the new graduate in your life with lots of money, especially if you’re crunched for cash yourself.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The best financial gifts are those that improve financial behavior, says Len Hayduchok, president of</span><span> </span>Dedicated Financial Services<span style=\"color: #000000;\"> in Hamilton, N.J. “Leverage those gifts to teach good financial habits.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">This generation will certainly need them. Their older siblings who graduated at the height of the Great Recession spent the next decade struggling to make up for lost wages early in their career. Their struggle was so pronounced that a</span><span> </span>2018 report from the Federal Reserve Bank of St. Louis<span style=\"color: #000000;\"> determined that those born in the 1980s were at greatest risk of “becoming a ‘lost generation’ for wealth accumulation.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Today’s graduates aren’t destined to share the same fate, especially if parents and grandparents can help them ramp up their money skills and encourage them to save. That’s what the financial graduation gifts that follow aim to do. They range from thousands of dollars to one that is free, though it does involve the added gift of your time. Besides what you can afford, the new grad’s employment status also will determine which of these gifts you can give.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Savings Match.</strong> If the college grad in your life has landed a job, building an emergency fund that covers at least three months of living expenses should take priority over all other savings, even retirement. But financial planner Gordon Achtermann of</span><span> </span>‌Your Best Path Financial Planning<span style=\"color: #000000;\"> in Fairfax, Va., has a way for you to help your child or grandchild do both while teaching them to save.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">He suggests making a pact: For every dollar they put into a savings account, you match it with money in an</span><span> </span>IRA<span style=\"color: #000000;\">—up to the annual IRA limit of $6,000 in 2020—that you set up for them. (You can only contribute to someone’s IRA or</span><span> </span>Roth<span> </span><span style=\"color: #000000;\">if that person has earned income, and those contributions cannot exceed their earnings.)</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If they take money out of the savings for something that is not a real emergency, the IRA payments stop until the money is replenished,” he says. Which is better, a regular IRA or a Roth IRA? “If they don’t need the tax break that a traditional IRA provides, a Roth would be better,” Achtermann says.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Help With Debt.</strong> Hayduchok suggests a similar pact for paying down debt. Offer to pay a couple of months of their loan payment, he says, if they put the same amount toward paying off a </span>credit card<span style=\"color: #000000;\">. Along with monthly student loan payments averaging between $200 and $300, the average </span>credit card<span style=\"color: #000000;\"> debt for graduating students is $1,183, a 2019 Sallie Mae survey found.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Financial Planning.</strong> It seems counterintuitive to give the new graduate, who may have no monetary assets to speak of, a few hours with a financial adviser, but that time with a professional can help these young adults start things off on the right foot, says Diane Pearson, a financial adviser with </span>Pearson Financial Planning<span style=\"color: #000000;\"> in Pittsburgh. Pearson has helped new grads evaluate job offers, understand the kinds of insurance they need and determine where they can afford to live.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If they’re considering moving to another city, “we look at the cost of rent and whether they will need to buy a car.” The emphasis, she says, is on financial planning. “If you’ve got a strong foundation, the assets are going to come.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Budgeting App. </strong>Nothing helps a young person build a better financial foundation than learning to live within their means. If your finances are also tight, this next gift will be as much of a boon to you as it is to the recipient.</span><span> </span>Mint<span style=\"color: #000000;\"> is a free budget app that helps users create budgets and track spending, bills and account balances to stay on target. The real gift, however, is spending some time teaching the new grad to use the app, or if it’s new to you, then learn together, says Achtermann.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Gifts for Grads to Build Good Money Habits','','publish','closed','closed','','gifts-for-grads-to-build-good-money-habits','','','2020-05-26 23:44:24','2020-05-26 23:44:24','',0,'http://smartinsurance.tips/?page_id=415',0,'page','',0),(416,1,'2020-05-26 16:58:51','2020-05-26 16:58:51','<!-- wp:divi/placeholder /-->','Gifts for Grads to Build Good Money Habits','','inherit','closed','closed','','415-revision-v1','','','2020-05-26 16:58:51','2020-05-26 16:58:51','',415,'http://smartinsurance.tips/415-revision-v1/',0,'revision','',0),(419,1,'2020-05-26 18:01:14','2020-05-26 18:01:14','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><img src=\"https://www.investopedia.com/thmb/trbT7LfgzJhBFplqk4neMvItb0c=/1500x998/filters:fill(auto,1)/GettyImages-580491059-8a6cba4a927e47388aad56d1d6e5f795.jpg\" width=\"799\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br /> In a sluggish economy or an outright</span><span> </span>recession<span style=\"color: #000000;\">, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the </span>financial risks<span> </span><span style=\"color: #000000;\">everyone should avoid taking during a recession.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard1-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard1-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"1050\">\n<div class=\"spacer\">\n<div id=\"billboard1-dynamic_1-0\" class=\"comp billboard1-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"atf\" data-priority=\"2\" data-sizes=\"[[300, 1050], [300, 600], [160, 600], [300, 250], [1, 2], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"2804217245d448f3bf09b3d32c799261\" data-auction-floor-value=\"255\" data-google-query-id=\"CKfM0-qN0ukCFeiEfwYdx8MAgA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\" style=\"text-align: justify;\"><span style=\"color: #000000;\">KEY TAKEAWAYS</span></h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li><span style=\"color: #000000;\">When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.</span></li>\n<li><span style=\"color: #000000;\">Avoid increasing, and if possible reduce, your exposure to these financial risks.</span></li>\n<li><span style=\"color: #000000;\">For example, you\'ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.</span></li>\n<li><span style=\"color: #000000;\">If you\'re an employee, you\'ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.</span></li>\n<li><span style=\"color: #000000;\">If you\'re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.</span></li>\n</ul>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Becoming a Cosigner</span></h2>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>Cosigning<span> </span><span style=\"color: #000000;\">a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn,</span><span> </span>the risks associated with cosigning<span style=\"color: #000000;\"> a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner\'s own elevated risk of ending up unemployed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"600\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"37a6758145cd4ad08bf5bf72f2039b93\" data-auction-floor-value=\"135\" data-google-query-id=\"CPG-leuN0ukCFR5PaQod9v4AhA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard2_0__container__\"><span style=\"font-size: 14px; color: #000000;\"> </span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. </span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"e552cf57b33c4ab8a325f57fe3af4aaa\" data-auction-floor-value=\"150\" data-google-query-id=\"COucpO2N0ukCFcIwaQodsukE8g\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking out an Adjustable-Rate Mortgage</span></h2>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">When purchasing a home, you may choose to take out an</span><span> </span>adjustable-rate mortgage<span> </span><span style=\"color: #000000;\">(ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). </span><span style=\"color: #000000;\">I</span>nterest rates usually fall early in a recession<span style=\"color: #000000;\">, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your</span><span> </span>credit rating<span style=\"color: #000000;\">, making it more difficult to obtain a loan in the future.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [300, 600], [4, 1], [200, 200], [180, 150], [200, 200], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"67c65f9897f94815a75c9520c17de319\" data-auction-floor-value=\"160\" data-google-query-id=\"COC-x-2N0ukCFQ1vXgod2jELxA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a </span>mortgage refinance<span style=\"color: #000000;\">, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\"></div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking on New Debt</span></h2>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your </span>ability to pay your debt<span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to </span>bankruptcy<span style=\"color: #000000;\">. Pay cash if you can, or wait on big new purchases.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking Your Job for Granted</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting </span>dividends<span style=\"color: #000000;\">, or shedding jobs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Because </span>jobs become so vulnerable during a recession<span style=\"color: #000000;\">, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"><br /> Taking Risks With Investments</span></h2>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for </span>capital purchases<span style=\"color: #000000;\"> and labor costs for new hiring are low. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Especially avoid investment projects that would require you to take on new debt to finance.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and</span><span> </span>principal<span> </span><span style=\"color: #000000;\">on time. Wait until interest rates just start to tick upward and </span>leading economic indicators<span style=\"color: #000000;\"> for your market or industry turn up.</span></p>\n</div>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There\'s no need to live a monk\'s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and </span>recession-proof your life<span style=\"color: #000000;\">. These include</span><span> </span>implementing a realistic budget<span style=\"color: #000000;\">, establishing an emergency fund, and generating additional sources of income.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Things You Shouldn\'t Do During a Recession','','publish','closed','closed','','5-things-you-shouldnt-do-during-a-recession','','','2020-05-26 23:49:08','2020-05-26 23:49:08','',0,'http://smartinsurance.tips/?page_id=419',0,'page','',0),(420,1,'2020-05-26 18:01:14','2020-05-26 18:01:14','<!-- wp:divi/placeholder /-->','5 Things You Shouldn\'t Do During a Recession','','inherit','closed','closed','','419-revision-v1','','','2020-05-26 18:01:14','2020-05-26 18:01:14','',419,'http://smartinsurance.tips/419-revision-v1/',0,'revision','',0),(452,1,'2020-05-26 23:51:16','2020-05-26 23:51:16','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>If you\'re collecting unemployment, get ready for a hefty tax bill</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<p style=\"text-align: left;\"><img src=\"https://www.gannett-cdn.com/-mm-/421128acc9d659ef486d162910353b3eb2465ee5/c=0-266-5121-3147/local/-/media/2020/05/19/USATODAY/usatsports/woman-finance-calculator-laptop-notebook.jpg?width=3200&amp;height=1801&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" width=\"799\" height=\"450\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Millions of Americans have been hit hard financially due to the coronavirus pandemic. Approximately 36.5 million U.S. adults have filed for unemployment benefits over the past two months, according to the Department of Labor, and if the virus isn\'t contained soon, that number could continue to skyrocket.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Even with the help of unemployment benefits, however, many people are still struggling. To provide relief, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided millions of Americans with </span>stimulus checks<span style=\"color: #000000;\"> and also allowed unemployed workers to collect an additional $600 per week in unemployment benefits.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While stimulus checks are tax-free and won\'t count toward your income, unemployment benefits are a different story. If you\'re receiving benefits now, there\'s a good chance you could be hit with a hefty tax bill later.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">How your unemployment benefits are taxed</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Unemployment benefits have always been subject to federal taxes (and potentially state and local taxes, depending on where you live), but the additional $600 per week could result in a bigger tax bill.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The CARES Act was passed in late March, and it extends the $600 per week benefit boost through the end of July. That means if you collect this extra money each week for the four months it\'s available, it will amount to nearly $10,000 in additional unemployment benefits. That\'s a good chunk of change that can provide serious financial relief, but if you\'re not prepared to pay taxes on that extra benefit money, your tax bill could take you by surprise.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Exactly how much you\'ll pay in taxes on your benefits will depend on where you live. Some states, including Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming, don\'t have state income taxes, so you may get a tax break on your unemployment benefits. Other states, such as California and New Jersey, generally tax income but make an exception for unemployment benefits. To figure out whether you\'ll owe state taxes on your benefits, check your state\'s tax laws.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">When it comes to how you want to pay these taxes, you have a few options. You can have the money withheld from each check, you could pay your taxes quarterly, or you can pay your entire tax bill when you file your tax return. There are advantages and disadvantages to each option, so consider each one carefully before you decide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">The best time to pay your taxes</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re worried about owing a lot of money in taxes, you can opt to have your taxes withheld from each check. That way, you won\'t be slapped with a massive tax bill if you wait until you file your tax return to pay what you owe.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, the downside to this approach is you won\'t have as much spending money right now. If you\'re trying to stretch every penny, it might be a better idea to hold off on paying taxes until your financial situation improves. You may need to make a bigger tax payment later, but you\'ll also have more money to pay your bills right now.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The middle ground between these two options, then, is to</span><span> </span>pay your taxes quarterly<span style=\"color: #000000;\">. This approach is a bit more complicated, because you\'ll need to estimate how much you\'ll owe in taxes each quarter – which may prove difficult if you don\'t know how long you\'ll be collecting unemployment benefits. If you believe you\'ll be able to find a new job relatively soon, you may choose to simply wait until you file your tax return to pay your unemployment taxes. But if you think you\'ll be collecting unemployment benefits for the foreseeable future, paying estimated taxes can help you avoid a big tax bill while keeping more money in your pocket for day-to-day expenses.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The</span><span> </span>coronavirus pandemic<span> </span><span style=\"color: #000000;\">has cost millions of Americans their jobs, and unemployment benefits are a lifeline for those struggling to make ends meet. Just be sure you\'re prepared for the tax bill that will follow, so you\'re not caught off guard by this expense.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re like most Americans, you\'re a few years (or more) behind on your retirement savings. But a handful of little-known \"Social Security secrets\" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we\'re all after.</span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"COb1tKT90ekCFUMfKgodY9oI7g\"></div>\n</aside>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.usatoday.com/story/money/2020/05/22/collecting-unemployment-benefits-tax/111802250/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','If you\'re collecting unemployment, get ready for a hefty tax bill','','inherit','closed','closed','','411-revision-v1','','','2020-05-26 23:51:16','2020-05-26 23:51:16','',411,'http://smartinsurance.tips/411-revision-v1/',0,'revision','',0),(414,1,'2020-05-26 16:56:49','2020-05-26 16:56:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>If you\'re collecting unemployment, get ready for a hefty tax bill</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\" style=\"text-align: justify;\">\n<p style=\"text-align: left;\"><img src=\"https://www.gannett-cdn.com/-mm-/421128acc9d659ef486d162910353b3eb2465ee5/c=0-266-5121-3147/local/-/media/2020/05/19/USATODAY/usatsports/woman-finance-calculator-laptop-notebook.jpg?width=3200&amp;height=1801&amp;fit=crop&amp;format=pjpg&amp;auto=webp\" width=\"799\" height=\"450\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Millions of Americans have been hit hard financially due to the coronavirus pandemic. Approximately 36.5 million U.S. adults have filed for unemployment benefits over the past two months, according to the Department of Labor, and if the virus isn\'t contained soon, that number could continue to skyrocket.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Even with the help of unemployment benefits, however, many people are still struggling. To provide relief, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided millions of Americans with </span><a href=\"https://www.fool.com/taxes/2020/03/25/will-you-get-a-coronavirus-stimulus-check.aspx?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=80860651-b5d5-48b7-94e9-6adb6c03d905\" target=\"_blank\" rel=\"noopener noreferrer\" data-t-l=\"|inline|intext|n/a\" class=\"gnt_ar_b_a\">stimulus checks</a><span style=\"color: #000000;\"> and also allowed unemployed workers to collect an additional $600 per week in unemployment benefits.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While stimulus checks are tax-free and won\'t count toward your income, unemployment benefits are a different story. If you\'re receiving benefits now, there\'s a good chance you could be hit with a hefty tax bill later.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">How your unemployment benefits are taxed</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Unemployment benefits have always been subject to federal taxes (and potentially state and local taxes, depending on where you live), but the additional $600 per week could result in a bigger tax bill.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The CARES Act was passed in late March, and it extends the $600 per week benefit boost through the end of July. That means if you collect this extra money each week for the four months it\'s available, it will amount to nearly $10,000 in additional unemployment benefits. That\'s a good chunk of change that can provide serious financial relief, but if you\'re not prepared to pay taxes on that extra benefit money, your tax bill could take you by surprise.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Exactly how much you\'ll pay in taxes on your benefits will depend on where you live. Some states, including Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming, don\'t have state income taxes, so you may get a tax break on your unemployment benefits. Other states, such as California and New Jersey, generally tax income but make an exception for unemployment benefits. To figure out whether you\'ll owe state taxes on your benefits, check your state\'s tax laws.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">When it comes to how you want to pay these taxes, you have a few options. You can have the money withheld from each check, you could pay your taxes quarterly, or you can pay your entire tax bill when you file your tax return. There are advantages and disadvantages to each option, so consider each one carefully before you decide.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">The best time to pay your taxes</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re worried about owing a lot of money in taxes, you can opt to have your taxes withheld from each check. That way, you won\'t be slapped with a massive tax bill if you wait until you file your tax return to pay what you owe.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">However, the downside to this approach is you won\'t have as much spending money right now. If you\'re trying to stretch every penny, it might be a better idea to hold off on paying taxes until your financial situation improves. You may need to make a bigger tax payment later, but you\'ll also have more money to pay your bills right now.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The middle ground between these two options, then, is to</span><span> </span><a href=\"https://www.fool.com/taxes/2020/04/25/filing-estimated-taxes-the-irs-has-changed-the-202.aspx?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=80860651-b5d5-48b7-94e9-6adb6c03d905\" target=\"_blank\" rel=\"noopener noreferrer\" data-t-l=\"|inline|intext|n/a\" class=\"gnt_ar_b_a\">pay your taxes quarterly</a><span style=\"color: #000000;\">. This approach is a bit more complicated, because you\'ll need to estimate how much you\'ll owe in taxes each quarter – which may prove difficult if you don\'t know how long you\'ll be collecting unemployment benefits. If you believe you\'ll be able to find a new job relatively soon, you may choose to simply wait until you file your tax return to pay your unemployment taxes. But if you think you\'ll be collecting unemployment benefits for the foreseeable future, paying estimated taxes can help you avoid a big tax bill while keeping more money in your pocket for day-to-day expenses.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The</span><span> </span><a href=\"https://www.fool.com/coronavirus/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=80860651-b5d5-48b7-94e9-6adb6c03d905\" target=\"_blank\" rel=\"noopener noreferrer\" data-t-l=\"|inline|intext|n/a\" class=\"gnt_ar_b_a\">coronavirus pandemic</a><span> </span><span style=\"color: #000000;\">has cost millions of Americans their jobs, and unemployment benefits are a lifeline for those struggling to make ends meet. Just be sure you\'re prepared for the tax bill that will follow, so you\'re not caught off guard by this expense.</span></p>\n<p class=\"gnt_ar_b_p\"></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you\'re like most Americans, you\'re a few years (or more) behind on your retirement savings. But a handful of little-known \"Social Security secrets\" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we\'re all after.</span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<p class=\"gnt_ar_b_p\"><span></span></p>\n<aside aria-label=\"advertisement\" class=\"gnt_m gnt_x gnt_x__lbl gnt_x__al\">\n<div data-g-r=\"lazy\" data-gl-method=\"lazyLoadX\" id=\"ad-slot-7103-usatoday-native-article_link-money-2\" class=\"gnt_x_sl gnt_x_al\" data-google-query-id=\"COb1tKT90ekCFUMfKgodY9oI7g\"></div>\n</aside>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.usatoday.com/story/money/2020/05/22/collecting-unemployment-benefits-tax/111802250/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','If you\'re collecting unemployment, get ready for a hefty tax bill','','inherit','closed','closed','','411-revision-v1','','','2020-05-26 16:56:49','2020-05-26 16:56:49','',411,'http://smartinsurance.tips/411-revision-v1/',0,'revision','',0),(444,1,'2020-05-26 23:44:24','2020-05-26 23:44:24','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 style=\"text-align: center;\"><strong>Gifts for Grads to Build Good Money Habits</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.kiplinger.com/kipimages/pages/22097.jpg\" width=\"800\" height=\"526\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">What do parents and grandparents give as a gift to the college graduate of 2020, who faces a cratering job market and shoulders an average of $29,900 in student loan debt? The short answer is financial help, but that doesn’t mean showering the new graduate in your life with lots of money, especially if you’re crunched for cash yourself.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The best financial gifts are those that improve financial behavior, says Len Hayduchok, president of</span><span> </span>Dedicated Financial Services<span style=\"color: #000000;\"> in Hamilton, N.J. “Leverage those gifts to teach good financial habits.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">This generation will certainly need them. Their older siblings who graduated at the height of the Great Recession spent the next decade struggling to make up for lost wages early in their career. Their struggle was so pronounced that a</span><span> </span>2018 report from the Federal Reserve Bank of St. Louis<span style=\"color: #000000;\"> determined that those born in the 1980s were at greatest risk of “becoming a ‘lost generation’ for wealth accumulation.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Today’s graduates aren’t destined to share the same fate, especially if parents and grandparents can help them ramp up their money skills and encourage them to save. That’s what the financial graduation gifts that follow aim to do. They range from thousands of dollars to one that is free, though it does involve the added gift of your time. Besides what you can afford, the new grad’s employment status also will determine which of these gifts you can give.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Savings Match.</strong> If the college grad in your life has landed a job, building an emergency fund that covers at least three months of living expenses should take priority over all other savings, even retirement. But financial planner Gordon Achtermann of</span><span> </span>‌Your Best Path Financial Planning<span style=\"color: #000000;\"> in Fairfax, Va., has a way for you to help your child or grandchild do both while teaching them to save.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">He suggests making a pact: For every dollar they put into a savings account, you match it with money in an</span><span> </span>IRA<span style=\"color: #000000;\">—up to the annual IRA limit of $6,000 in 2020—that you set up for them. (You can only contribute to someone’s IRA or</span><span> </span>Roth<span> </span><span style=\"color: #000000;\">if that person has earned income, and those contributions cannot exceed their earnings.)</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If they take money out of the savings for something that is not a real emergency, the IRA payments stop until the money is replenished,” he says. Which is better, a regular IRA or a Roth IRA? “If they don’t need the tax break that a traditional IRA provides, a Roth would be better,” Achtermann says.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Help With Debt.</strong> Hayduchok suggests a similar pact for paying down debt. Offer to pay a couple of months of their loan payment, he says, if they put the same amount toward paying off a </span>credit card<span style=\"color: #000000;\">. Along with monthly student loan payments averaging between $200 and $300, the average </span>credit card<span style=\"color: #000000;\"> debt for graduating students is $1,183, a 2019 Sallie Mae survey found.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Financial Planning.</strong> It seems counterintuitive to give the new graduate, who may have no monetary assets to speak of, a few hours with a financial adviser, but that time with a professional can help these young adults start things off on the right foot, says Diane Pearson, a financial adviser with </span>Pearson Financial Planning<span style=\"color: #000000;\"> in Pittsburgh. Pearson has helped new grads evaluate job offers, understand the kinds of insurance they need and determine where they can afford to live.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If they’re considering moving to another city, “we look at the cost of rent and whether they will need to buy a car.” The emphasis, she says, is on financial planning. “If you’ve got a strong foundation, the assets are going to come.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Budgeting App. </strong>Nothing helps a young person build a better financial foundation than learning to live within their means. If your finances are also tight, this next gift will be as much of a boon to you as it is to the recipient.</span><span> </span>Mint<span style=\"color: #000000;\"> is a free budget app that helps users create budgets and track spending, bills and account balances to stay on target. The real gift, however, is spending some time teaching the new grad to use the app, or if it’s new to you, then learn together, says Achtermann.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Gifts for Grads to Build Good Money Habits','','inherit','closed','closed','','415-revision-v1','','','2020-05-26 23:44:24','2020-05-26 23:44:24','',415,'http://smartinsurance.tips/415-revision-v1/',0,'revision','',0),(418,1,'2020-05-26 17:03:34','2020-05-26 17:03:34','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong>Gifts for Grads to Build Good Money Habits</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.kiplinger.com/kipimages/pages/22097.jpg\" width=\"800\" height=\"526\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">What do parents and grandparents give as a gift to the college graduate of 2020, who faces a cratering job market and shoulders an average of $29,900 in student loan debt? The short answer is financial help, but that doesn’t mean showering the new graduate in your life with lots of money, especially if you’re crunched for cash yourself.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The best financial gifts are those that improve financial behavior, says Len Hayduchok, president of</span><span> </span><a href=\"https://www.dedicatedfinancialservices.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Dedicated Financial Services</a><span style=\"color: #000000;\"> in Hamilton, N.J. “Leverage those gifts to teach good financial habits.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">This generation will certainly need them. Their older siblings who graduated at the height of the Great Recession spent the next decade struggling to make up for lost wages early in their career. Their struggle was so pronounced that a</span><span> </span><a href=\"https://www.stlouisfed.org/household-financial-stability/the-demographics-of-wealth/wealth-impacts-of-great-recession-on-young-families\" target=\"_blank\" rel=\"noopener noreferrer\">2018 report from the Federal Reserve Bank of St. Louis</a><span style=\"color: #000000;\"> determined that those born in the 1980s were at greatest risk of “becoming a ‘lost generation’ for wealth accumulation.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Today’s graduates aren’t destined to share the same fate, especially if parents and grandparents can help them ramp up their money skills and encourage them to save. That’s what the financial graduation gifts that follow aim to do. They range from thousands of dollars to one that is free, though it does involve the added gift of your time. Besides what you can afford, the new grad’s employment status also will determine which of these gifts you can give.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Savings Match.</strong> If the college grad in your life has landed a job, building an emergency fund that covers at least three months of living expenses should take priority over all other savings, even retirement. But financial planner Gordon Achtermann of</span><span> </span><a href=\"https://yourbestpathfp.com/\" target=\"_blank\" rel=\"noopener noreferrer\">‌Your Best Path Financial Planning</a><span style=\"color: #000000;\"> in Fairfax, Va., has a way for you to help your child or grandchild do both while teaching them to save.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">He suggests making a pact: For every dollar they put into a savings account, you match it with money in an</span><span> </span><a href=\"https://www.kiplinger.com/fronts/special-report/iras/index.html\">IRA</a><span style=\"color: #000000;\">—up to the annual IRA limit of $6,000 in 2020—that you set up for them. (You can only contribute to someone’s IRA or</span><span> </span><a href=\"https://www.kiplinger.com/fronts/special-report/roth-iras/index.html\">Roth</a><span> </span><span style=\"color: #000000;\">if that person has earned income, and those contributions cannot exceed their earnings.)</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">“If they take money out of the savings for something that is not a real emergency, the IRA payments stop until the money is replenished,” he says. Which is better, a regular IRA or a Roth IRA? “If they don’t need the tax break that a traditional IRA provides, a Roth would be better,” Achtermann says.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Help With Debt.</strong> Hayduchok suggests a similar pact for paying down debt. Offer to pay a couple of months of their loan payment, he says, if they put the same amount toward paying off a </span><a href=\"https://www.kiplinger.com/fronts/special-report/credit-cards/index.html\">credit card</a><span style=\"color: #000000;\">. Along with monthly student loan payments averaging between $200 and $300, the average </span><a href=\"https://www.kiplinger.com/slideshow/credit/T016-S002-the-best-rewards-credit-cards-for-you-2020/index.html\">credit card</a><span style=\"color: #000000;\"> debt for graduating students is $1,183, a 2019 Sallie Mae survey found.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Financial Planning.</strong> It seems counterintuitive to give the new graduate, who may have no monetary assets to speak of, a few hours with a financial adviser, but that time with a professional can help these young adults start things off on the right foot, says Diane Pearson, a financial adviser with </span><a href=\"https://pearsonfinancialplanning.com/\">Pearson Financial Planning</a><span style=\"color: #000000;\"> in Pittsburgh. Pearson has helped new grads evaluate job offers, understand the kinds of insurance they need and determine where they can afford to live.</span></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">If they’re considering moving to another city, “we look at the cost of rent and whether they will need to buy a car.” The emphasis, she says, is on financial planning. “If you’ve got a strong foundation, the assets are going to come.”</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A Budgeting App. </strong>Nothing helps a young person build a better financial foundation than learning to live within their means. If your finances are also tight, this next gift will be as much of a boon to you as it is to the recipient.</span><span> </span><a href=\"https://www.mint.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Mint</a><span style=\"color: #000000;\"> is a free budget app that helps users create budgets and track spending, bills and account balances to stay on target. The real gift, however, is spending some time teaching the new grad to use the app, or if it’s new to you, then learn together, says Achtermann.</span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Gifts for Grads to Build Good Money Habits','','inherit','closed','closed','','415-revision-v1','','','2020-05-26 17:03:34','2020-05-26 17:03:34','',415,'http://smartinsurance.tips/415-revision-v1/',0,'revision','',0),(410,1,'2020-05-25 23:29:39','2020-05-25 23:29:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Should You Increase Your Insurance Deductible to Save Money?</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><img src=\"https://www.thebalance.com/thmb/FXmMXUF02v0wUPOt7RnTBYaOdvU=/2121x1414/filters:fill(auto,1)/increasingyourdeductible-5323a5bf65034c1088a260e46ce2dfbc.jpg\" width=\"800\" height=\"533\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></p>\n<p>Raising your<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible</a><span> </span>will save some money on your insurance costs, however, the amount of money you save may not be what you think. Your insurance deductible will directly affect<span> </span><a href=\"https://www.thebalance.com/what-is-actual-loss-2645738\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">how much you get paid in a claim</a>, but you can save thousands of dollars if you increase your deductible using the right strategy.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Here is everything you need to know to figure out if choosing a higher deductible will save you money.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"9c18c86741764c8bada74937076ada9f\" data-auction-floor-value=\"240\" data-google-query-id=\"CMSbqL-T0OkCFVAbYgodXlEKvw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard2_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Should You Increase Your Deductible?</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you have the money on hand and are willing to pay for damages resulting from a claim, then you can increase your<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible</a><span> </span>to save on costs. If you can afford it, then take the savings your insurance company will give you and start saving money now. However, you don\'t want to make the mistake of increasing your deductible to save a few dollars a month before considering the long-term implications. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"1037aa8329a5404eb09f87146b39adb9\" data-auction-floor-value=\"165\" data-google-query-id=\"CPz3wL-T0OkCFRHhYgodcNUPSw\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>That\'s the short and simple answer, but it may not be enough information to give everyone a conclusive answer on what they should do. This in-depth overview should help you understand the impact of increasing your deductible, including the ways it can save you money (or cost you money) in the short-term and long-term.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Where to Find Your Deductible Information</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>To start with<span> </span><a href=\"https://www.thebalance.com/insurance-deductible-2645763\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">the basics about insurance deductibles</a>, you first need to know how much your deductible is currently. You will be able to find this information on<span> </span><a href=\"https://www.thebalance.com/what-is-an-insurance-declaration-page-2645728\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">the declaration page of your insurance policy</a>. Sometimes, different coverages have different deductibles. Your earthquake coverage may be different from your<span> </span><a href=\"https://www.thebalance.com/how-to-handle-water-damage-claims-3860314\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">water damage</a><span> </span>or flood insurance, for instance.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>Don\'t forget to explore the opportunities to save money from the different deductibles on<span> </span><a href=\"https://www.thebalance.com/insurance-endorsement-or-rider-2645729\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">endorsements</a><span> </span>or other areas of your policy as well.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">What You Need to Think About Before Increasing Your Deductible</span></h2>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>The toughest thing about insurance is that the less money you have, the more important it is to have insurance to protect you if something goes wrong. If you are<span> </span><a href=\"https://www.thebalance.com/policy-canceled-for-non-payment-2645553\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">struggling to come up with the money to pay for your insurance</a>, you may want to think twice about increasing your deductible. Here are three things to consider.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">The Actual Cost of Your Insurance</span></h3>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>An increased deductible provides a percentage discount off the cost of the insurance. If you only spend $300 on your insurance, you would need a significant percentage discount to see real savings—especially compared to the cost of making a high-deductible claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>For example, do you really want to pay a $1,000 deductible in a claim to save $30 a year? What about if you save $100 in a year? You need to do the math to see if the savings make sense. The higher your insurance costs, the more you will save by increasing the deductible.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">Why You Have Insurance</span> </h3>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you are in a stable financial position and would likely take care of small issues yourself (without making a claim), it can make sense to get a higher deductible. If, for instance, you would never make a claim for under $1,000 on your car because you can afford to pay for it yourself, then a higher deductible of $1,000 makes a lot of financial sense.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>On the other hand, if you are worried about your ability to cover any amount of unexpected costs, then you\'re better off paying a few more dollars in insurance every year to get a deductible you could afford. Once you start to build some savings, you can revisit the issue and look into increasing your deductible. </p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\">How Often You Make Insurance Claims</span></h3>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you think you will never have to make an insurance claim, you can take a risk by increasing your deductible. \"Risk\" is the keyword here. You may have never made a claim in your life, but you never know when you\'ll need to. Remember that the deductible represents the direct financial impact you are willing to personally accept if you need to make a claim. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"native-placeholder_2-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you have a history of<span> </span><a href=\"https://www.thebalance.com/insurance-company-cancelling-policy-2645554\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">making too many insurance claims</a>, there is a good chance you are already paying a lot of money for insurance. Making more claims when it is not necessary will increase your overall insurance costs. Therefore, taking a higher deductible to avoid making smaller claims may pay off. You should always<span> </span><a href=\"https://www.thebalance.com/insurance-company-cancelling-policy-2645554\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">negotiate with the insurance company</a><span> </span>when you are paying high premiums to see how you can find a better price. </p>\n</div>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [4, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"dbff504a20214a7fac3f54f844e2fd3b\" data-auction-floor-value=\"180\" data-google-query-id=\"COy3keKT0OkCFYyFYgodRskN_g\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you never make insurance claims and you can afford a higher deductible, then you should consider increasing your deductible. Every year you avoid making a claim, extra money from the higher deductible plan will be in your pocket instead of the insurance company\'s.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard5-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard5-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard5-dynamic_2-0\" class=\"comp js-billboard-lazy billboard5-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard5\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf4\" data-priority=\"7\" data-sizes=\"[[300, 250], [300, 254], [6, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"59d731bfa4d6478abb345da2b89a89bc\" data-auction-floor-value=\"160\" data-google-query-id=\"CNOIrOKT0OkCFcp2YgodwSEAqA\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard5_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>For example, say you take a higher deductible of $1000 to save $100 on your annual insurance costs. After five years, you haven\'t made a claim, and you\'ve saved $500. In addition, five years without claims could also make you eligible for a claims-free discount, saving you even more money on your insurance costs.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\">\n<div id=\"billboard6-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard6-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard6-dynamic_1-0\" class=\"comp js-billboard-lazy billboard6-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard6\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf5\" data-priority=\"8\" data-sizes=\"[[300, 250], [300, 255], [7, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"7dffa7996d214977afbe045cc069d3b1\" data-auction-floor-value=\"175\" data-google-query-id=\"CMWR0eKT0OkCFQbhYgod5I0Acg\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard6_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>The reason higher deductibles work better for some than others has to do with individual risks and financial capability. For example, many<span> </span><a href=\"https://www.thebalance.com/what-is-high-value-home-insurance-and-is-it-worth-it-4172828\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">high-value home insurers</a><span> </span>have clients with $2,500 to $10,000 deductibles. These deductibles may be high for the average homeowner, but they make a lot of sense for higher valued homes and the relatively wealthier people that own them.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-36\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">How Much Can Raising the Deductible Lower Your Insurance Costs?</span></h2>\n<div id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>You\'re looking to <a href=\"https://www.thebalance.com/the-average-cost-of-home-insurance-4584408\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">reduce the cost of home insurance</a>, <a href=\"https://www.thebalance.com/condominium-and-coop-essential-insurance-guide-4068492\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">condo insurance</a>, or <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">car insurance</a>, but just how much will a higher deductible impact your insurance costs? </p>\n</div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_9-0\" class=\"comp mntl-block\">\n<div id=\"billboard7-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard7-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard7-dynamic_1-0\" class=\"comp js-billboard-lazy billboard7-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard7\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf6\" data-priority=\"9\" data-sizes=\"[[300, 250], [300, 256], [8, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"975521d71a8b475d82b4221a2e340000\" data-auction-floor-value=\"165\" data-google-query-id=\"CKnL6-KT0OkCFWODfwQdZ_ADew\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard7_0__container__\"><span style=\"font-size: 26px; color: #333333; text-align: left;\"><br />What\'s the Discount for Increasing Your Deductible?</span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>Depending on how high you increase the deductible, you could expect to save roughly 5% to 10% on your premiums. The more you increase your deductible, the higher the percentage discount becomes.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-41\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>As an example, you can expect to save between 15% and 30% on your car\'s collision and comprehensive coverage by increasing your deductible from $200 to $500.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-2\"><span>2</span></span> If you go up to $1,000, you could potentially save 40%<strong>.</strong></p>\n</div>\n<div id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>The same logic applies to home insurance. Depending on your insurance company, increasing your deductible from $500 to $1,000 could reduce your insurance costs by up to 25%.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-3\"><span>3</span></span> Over time, you might save thousands by strategically increasing your insurance deductibles and avoiding small claims.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-45\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-46\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">How Much You Can Afford to Increase Your Deductible?</span></h2>\n<div id=\"mntl-sc-block_1-0-47\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Increasing your deductible is just one way to<span> </span><a href=\"https://www.thebalance.com/getting-your-first-home-insurance-policy-4040509\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">save money on home insurance</a>, <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">car insurance</a>, or any other type of insurance. It\'s a popular option for people looking to save because it\'s the easiest to do <em>right now.</em> However, while you will immediately save money on your premium, increasing your deductible may cost you money in the long-term, if you can\'t afford to make a claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-48\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-49\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you have set aside an emergency fund specifically for car accidents or similar events, then that makes it easy—the deductible you can afford is the amount of your emergency fund. However, if you have a mixed savings account that includes car accident funds alongside other emergency funds, then it may be more difficult to separate out how much you could afford to pay as a deductible.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-50\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-51\" class=\"comp theme-experttiptip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>&nbsp;</p>\n<p>When you insure your home and car through the same insurer, you may be able to pay a single deductible for a claim that affects both. This can save you money.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-52\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Example of High Deductible Savings Gone Wrong</span></h2>\n<div id=\"mntl-sc-block_1-0-53\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>As an example of how high deductibles can end up costing you more money in the long run, consider this example.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-55\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>You take a higher deductible of $1,000 and save $100 a year on your insurance costs. You\'re happy because you see it as saving $100 a year. After five years, you haven\'t made a claim, and you\'ve saved a total of $500.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-56\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-57\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>Then, in the sixth year, you have to make a claim. You\'ve saved $500, but that\'s only half of the $1,000 deductible you now have to come up with. Not only are you in the middle of a stressful insurance claim, but you\'re worried about how you\'ll afford to pay the deductible. You might have been better off paying more for the lower deductible plan.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-58\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-59\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Other Ways to Save Money on Your Insurance</span></h2>\n<div id=\"mntl-sc-block_1-0-60\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>&nbsp;</p>\n<p>If you are still looking for ways to save money on your home insurance, you may want to check out your<span> </span><a href=\"https://www.thebalance.com/how-to-choose-best-home-insurance-coverage-4016846\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">home insurance coverage options</a><span> </span>and see if you have the right policy for your needs. Insurance companies actively compete for customers, so it might pay to shop around for your insurance or <a href=\"https://www.thebalance.com/car-insurance-prices-up-with-no-claims-3881505\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">negotiate with your car insurance</a> or home insurance company.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-61\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-62\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Your Insurance Policy Should Change With Your Needs</span></h2>\n<div id=\"mntl-sc-block_1-0-63\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">An insurance company that was well suited to your needs five years ago may not be the best company to insure you now.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-64\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-65\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">Sometimes it\'s worth </span><a href=\"https://www.thebalance.com/paying-penalty-for-canceling-insurance-worth-it-2645556\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"font-size: 14px;\">paying a penalty for canceling</a><span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">with one insurance company to get a better insurance deal with a new one. You may only need to call your insurance company and tell them you\'re ready to shop around—they may come up with some new ideas on how to save money so they don\'t lose you as a customer.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-67\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Learn About Your Deductible Waivers</span></h2>\n<div id=\"mntl-sc-block_1-0-68\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>The<span> </span><a href=\"https://www.thebalance.com/home-insurance-large-loss-deductible-waiver-4119928\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">deductible waiver</a><span> </span>on a home insurance or condo insurance policy is a clause that waives the deductible in the event of a large loss.<span style=\"font-size: 14px;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-70\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Every insurance company will take a different approach to whether they offer a deductible waiver, and it may not be easy to tell how it applies to you. Even if your plan includes waivers, it may have been tucked away in some densely worded part of your insurance policy. Better understanding when the deductible waiver will apply may allow you to comfortably sign up for a higher deductible plan. The best way to clear it up is to directly ask your insurance representative if there is a deductible waiver in your insurance policy, and if so, when it kicks in.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-72\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p> <span style=\"font-size: 14px;\">For example, some policies might have a deductible waiver for losses of over $10,000. Other policies may have a very high threshold before deductible waivers kick in, like</span><span style=\"font-size: 14px;\"> </span><a href=\"https://www.thebalance.com/home-insurance-claims-and-rebuilding-4042916\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\" style=\"font-size: 14px;\">major claims</a><span style=\"font-size: 14px;\"> </span><span style=\"font-size: 14px;\">or losses over $50,000. If you\'re only insuring yourself for a major loss like a fire, it could make sense to take full advantage of these waivers by seeking a higher deductible.</span></p>\n<p><span style=\"font-size: 14px;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-74\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Deductible Waivers on Car Insurance</span> </h2>\n<div id=\"mntl-sc-block_1-0-75\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>Car insurance policies sell deductible waivers, as well. However, unlike with home insurance plans, deductible waivers generally increase the cost of car insurance. While deductible waivers are nice, you\'ve got to ensure that it doesn\'t come with extra costs that outweigh the benefits.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-77\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Use Your Increased Deductible to Save Money</span></h2>\n<div id=\"mntl-sc-block_1-0-78\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>If you decide you can afford to increase your deductible and save 10% or 40% on insurance, consider putting the savings on insurance costs into an emergency fund bank account. As your savings grow, you can increase your deductible accordingly, and then save even more on insurance.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-79\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-80\" class=\"comp theme-experttipnote mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>&nbsp;</p>\n<p>If you never have to make a claim and pay that higher deductible, then all that extra money stays in your pocket. On the other hand, if you end up needing to pay your deductible, you\'ve got the money ready. It\'s a win-win for you.</p>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-81\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-82\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p>You can save hundreds (if not thousands) of dollars on your insurance by developing a strategy that balances your financial situation with deductible amounts. Ask your insurance representative to assess your insurance choices and recommend some options to save money. Always do your research, and don\'t forget, you may end up paying less and getting more by <a href=\"https://www.thebalance.com/paying-penalty-for-canceling-insurance-worth-it-2645556\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">switching to a new insurance company</a>.</p>\n<p>&nbsp;</p>\n</div>\n<p>To read the full article, <a href=\"https://www.thebalance.com/how-to-use-your-insurance-deductible-to-save-money-4075986\" style=\"font-size: 14px; text-align: left;\">click here</a><span style=\"font-size: 14px; text-align: left;\">.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Should You Increase Your Insurance Deductible to Save Money?','','inherit','closed','closed','','400-revision-v1','','','2020-05-25 23:29:39','2020-05-25 23:29:39','',400,'http://smartinsurance.tips/400-revision-v1/',0,'revision','',0),(448,1,'2020-05-26 23:48:17','2020-05-26 23:48:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><img src=\"https://www.investopedia.com/thmb/trbT7LfgzJhBFplqk4neMvItb0c=/1500x998/filters:fill(auto,1)/GettyImages-580491059-8a6cba4a927e47388aad56d1d6e5f795.jpg\" width=\"799\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br />In a sluggish economy or an outright</span><span> </span>recession<span style=\"color: #000000;\">, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the </span>financial risks<span> </span><span style=\"color: #000000;\">everyone should avoid taking during a recession.<br /><br /></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard1-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard1-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"1050\">\n<div class=\"spacer\">\n<div id=\"billboard1-dynamic_1-0\" class=\"comp billboard1-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"atf\" data-priority=\"2\" data-sizes=\"[[300, 1050], [300, 600], [160, 600], [300, 250], [1, 2], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"2804217245d448f3bf09b3d32c799261\" data-auction-floor-value=\"255\" data-google-query-id=\"CKfM0-qN0ukCFeiEfwYdx8MAgA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\" style=\"text-align: justify;\"><span style=\"color: #000000;\">KEY TAKEAWAYS</span></h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li><span style=\"color: #000000;\">When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.</span></li>\n<li><span style=\"color: #000000;\">Avoid increasing, and if possible reduce, your exposure to these financial risks.</span></li>\n<li><span style=\"color: #000000;\">For example, you\'ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.</span></li>\n<li><span style=\"color: #000000;\">If you\'re an employee, you\'ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.</span></li>\n<li><span style=\"color: #000000;\">If you\'re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.</span></li>\n</ul>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Becoming a Cosigner</span></h2>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>Cosigning<span> </span><span style=\"color: #000000;\">a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn,</span><span> </span>the risks associated with cosigning<span style=\"color: #000000;\"> a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner\'s own elevated risk of ending up unemployed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"600\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"37a6758145cd4ad08bf5bf72f2039b93\" data-auction-floor-value=\"135\" data-google-query-id=\"CPG-leuN0ukCFR5PaQod9v4AhA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard2_0__container__\"><span style=\"font-size: 14px; color: #000000;\"> </span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. </span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"e552cf57b33c4ab8a325f57fe3af4aaa\" data-auction-floor-value=\"150\" data-google-query-id=\"COucpO2N0ukCFcIwaQodsukE8g\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking out an Adjustable-Rate Mortgage</span></h2>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">When purchasing a home, you may choose to take out an</span><span> </span>adjustable-rate mortgage<span> </span><span style=\"color: #000000;\">(ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). </span><span style=\"color: #000000;\">I</span>nterest rates usually fall early in a recession<span style=\"color: #000000;\">, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br />But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your</span><span> </span>credit rating<span style=\"color: #000000;\">, making it more difficult to obtain a loan in the future.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [300, 600], [4, 1], [200, 200], [180, 150], [200, 200], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"67c65f9897f94815a75c9520c17de319\" data-auction-floor-value=\"160\" data-google-query-id=\"COC-x-2N0ukCFQ1vXgod2jELxA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br />Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a </span>mortgage refinance<span style=\"color: #000000;\">, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\"></div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking on New Debt</span></h2>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your </span>ability to pay your debt<span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to </span>bankruptcy<span style=\"color: #000000;\">. Pay cash if you can, or wait on big new purchases.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking Your Job for Granted</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting </span>dividends<span style=\"color: #000000;\">, or shedding jobs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Because </span>jobs become so vulnerable during a recession<span style=\"color: #000000;\">, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"><br />Taking Risks With Investments</span></h2>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for </span>capital purchases<span style=\"color: #000000;\"> and labor costs for new hiring are low. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Especially avoid investment projects that would require you to take on new debt to finance.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and</span><span> </span>principal<span> </span><span style=\"color: #000000;\">on time. Wait until interest rates just start to tick upward and </span>leading economic indicators<span style=\"color: #000000;\"> for your market or industry turn up.</span></p>\n</div>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There\'s no need to live a monk\'s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and </span>recession-proof your life<span style=\"color: #000000;\">. These include</span><span> </span>implementing a realistic budget<span style=\"color: #000000;\">, establishing an emergency fund, and generating additional sources of income.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Things You Shouldn\'t Do During a Recession','','inherit','closed','closed','','419-revision-v1','','','2020-05-26 23:48:17','2020-05-26 23:48:17','',419,'http://smartinsurance.tips/419-revision-v1/',0,'revision','',0),(456,1,'2020-05-26 23:55:17','2020-05-26 23:55:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">What Is Insurance Credit Scoring?</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.thebalance.com/thmb/PJYgiqsdb9ifVbC1DeWRfqnSeKw=/2121x1414/filters:fill(auto,1)/InsuranceScorehowitworks-5a42f332494ec90036720943.jpg\" width=\"800\" height=\"533\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">What makes a person really insurable? Is there a score that can help you understand how to get lower insurance prices or good deals on your insurance premiums?</span></p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Some companies use Insurance-Credit scoring, but there is no one score used by everyone.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">We review all the factors that go into how an insurance company determines your insurability, as well as provide insight into what kinds of things could help you bring your insurance prices down by understanding insurance scoring with a few simple tips.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Insurance Scoring and How It Works</span></h2>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For years insurance companies have been experts at coming up with ways to figure out how likely it is that an accident or \"loss\" will happen, or analyzing what the risk is in a situation. Based on this assessment and using complex factors, insurance companies determine premiums.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Some companies may use stability rating or micro rating, for example, which may combine aspects of credit rating, zip or postal code rating data (which focuses on location in known claims areas) or risks based on the infrastructure of the district (that impact claims). <span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-2\">1</span></span></p>\n<p><span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-2\" style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">These are all very complex, so as a base point, understanding how an insurance premium works, gives a pretty straightforward insight into your insurability or how an insurance company would score you as a potential client or risk.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<h2 id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What Are the Factors?</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Most people think about their basic loss experience, or the number of claims when they think about insurance rates.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Insurance claims are not the only factors that come into play when an insurance company is assessing your insurability and the appropriate pricing for insuring you. Here are several factors that can impact your cost of insurance:</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<ol>\n<ol>\n<li><span style=\"color: #000000;\"><strong>Your Insurance History</strong></span><br /><span style=\"color: #000000;\"> How long you have been insured, if you have paid your premiums consistently, if you have ever been canceled for non-payment by an insurance company. </span></li>\n<li><span style=\"color: #000000;\"><strong>Your General Financial History and Behavior</strong></span><br /><span style=\"color: #000000;\"> Although credit scoring is not used with all insurance companies or in all states, many insurance companies may ask for your permission to check your credit. Having declared a recent bankruptcy or poor credit may affect what kind of policy you qualify for. </span></li>\n<li><span style=\"color: #000000;\"><strong style=\"font-size: 14px;\">Your Driving Record, and Claims History<br /> </strong>How many tickets or moving violations you have on your driving record can impact your insurability and cost of your car insurance. Some insurance companies have underwriting guidelines that will not allow them to insure you when you have too many claims or tickets, in these cases, you may have to go to a high-risk insurer or pay much higher costs.</span></li>\n<li><span style=\"color: #000000;\"><strong style=\"font-size: 14px;\">How You Use Your Car<br /> </strong>If you do high mileage or use your car for business, this will also play into your car insurance rate<span style=\"font-size: 14px;\">. For example, if you have several drivers on one car, the risks of having an accident increases because the car is on the road a lot more than if just one person is driving to and from work every day. Higher mileage may pay higher rates due to increased usage or mileage even though the primary driver is only driving to and from work a very short commute every day; the annual mileage will help the insurance company understand how often the car is on the road. The more a car is on the road, the more likely an accident is to occur.</span></span></li>\n<li><span style=\"color: #000000;\"><strong style=\"font-size: 14px;\">Your Personal Information<br /> </strong>Every insurance company has different target clients. For example, if a company is trying to appeal to seniors, then just being a senior may make you \"score higher\" with the insurance company who is trying to appeal to senior-aged clients. Another example is insurance companies who are trying to attract university graduates, professionals or people living in certain neighborhoods.</span></li>\n</ol>\n</ol>\n</div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<blockquote>\n<p><span style=\"color: #000000;\">The moment your personal profile falls into what the insurance company is looking to insure, your insurability and \"score\" or appeal with that insurance company increases and your price will be competitive.</span></p>\n<p>&nbsp;</p>\n</blockquote>\n</div>\n<h2 id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Do All Insurance Companies Use the Same Insurability Criteria?</span></h2>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">No, there is no one \"insurance score\" that all insurance companies use.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard5-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard5-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard5-dynamic_2-0\" class=\"comp js-billboard-lazy billboard5-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard5\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf4\" data-priority=\"7\" data-sizes=\"[[300, 250], [300, 254], [6, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"59d731bfa4d6478abb345da2b89a89bc\" data-auction-floor-value=\"160\" data-google-query-id=\"CLWZ9JOP0OkCFZ3IYgodfEoDSA\">\n<div><span style=\"font-size: 14px; text-align: left; color: #000000;\"></span></div>\n<div><span style=\"font-size: 14px; text-align: left; color: #000000;\"></span></div>\n<div id=\"google_ads_iframe_/479/thebalance/bal_other-insurance-topics/billboard5_0__container__\"><span style=\"color: #000000;\"><span style=\"font-size: 14px; text-align: left;\">There are only guidelines and common aspects of factors each insurance company will use depending on their own business strategy. Each insurance company has</span><span style=\"font-size: 14px; text-align: left;\"> </span>actuaries and underwriters who determine rates<span style=\"font-size: 14px; text-align: left;\">. Your \"score\" would be viewed differently with each of them, based on their underwriting criteria. </span></span></div>\n<div><span style=\"font-size: 14px; text-align: left; color: #000000;\"></span></div>\n<div>\n<p><span style=\"color: #000000;\"><span style=\"font-size: 14px; text-align: left;\"><br /> O</span><span style=\"font-size: 14px;\">ne factor that will help get you a good price with many insurance companies, regardless of their business plan or target clients, is having a high</span><span style=\"font-size: 14px;\"> </span>insurance credit score<span style=\"font-size: 14px;\">. </span></span></p>\n<p><span style=\"color: #000000;\">Studies have shown that having high credit scores are indicators of financial stability, and financial stability has been shown to be a good indicator of how likely a person is to make a claim.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_9-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Credit-Based</span></h2>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">According to the Insurance Information Institute, thinking that your credit score has nothing to do with your insurance is a myth. </span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How Do You Figure It Out?</span> </h2>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There is no one score that will apply to all insurance companies because they all use different ratings.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Using different rating structures is one-way insurance companies can compete in the marketplace. Each insurance company identifies areas they think they can do well in, and go after that kind of client. You can become familiar with your credit score though.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-36\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Determination</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">The National Association of Insurance Commissioners (NAIC) explains that there are a few different companies that provide Insurance-Credit Scores to insurance companies. For example, according to the NAIC, this is what FICO provides insurers when they are asked for the insurance credit score:</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-39\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<ul>\n<li><span style=\"color: #000000;\">Payment History</span></li>\n<li><span style=\"color: #000000;\">Outstanding Debt</span></li>\n<li><span style=\"color: #000000;\">Credit History Length</span></li>\n<li><span style=\"color: #000000;\">New Credit Applications</span></li>\n<li><span style=\"color: #000000;\">Credit Mix (type of loans, credit cards, revolving credit, etc.)</span></li>\n</ul>\n</div>\n<div id=\"mntl-sc-block_1-0-41\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Those factors can change fairly quickly, so if you are hit with high insurance rates one year, and it happened to be the year you had maxed out all your cards and had to get a new car, so we\'re applying for credit a lot, 6 months to a year later your insurance credit score <em>could change completely</em> when things settle down.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp theme-experttipwarning mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If any of your credit score factors change, an insurance premium that uses credit-based insurance scoring may also change as the situation settles down or stabilizes always be sure and follow up on this at the time of your renewal, or anytime you get a chance to revise your rating.</span></p>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-45\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"> All of these factors are confusing. If all insurance companies had one way to look at things it would make things much easier for consumers. On the flip side, it might eliminate healthy competition because there would be no competitive advantage. It would also eliminate the opportunity for you to get lower rates when your profile is better than average.</span></p>\n<p> <span style=\"font-size: 14px;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<h2 id=\"mntl-sc-block_1-0-47\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Online Tool: What Is \"Insurability Score\"</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-48\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">One company has come up with an easy online tool that gives an \"<strong><em>Insurability Score</em></strong>\", but it is important to note that this is not a rating factor in itself used by insurance companies. It is not the same as the insurance credit score or insurance-credit scoring. The <strong><em>Insurability Score</em></strong> is a tool developed by <strong><em>The Zebra</em></strong> to help consumers understand their general insurance profile on a basic level by asking questions and providing a \"score\". According to <strong><em>The Zebra</em></strong>, this gives users unique insight into behaviors and factors that affect their auto insurance risk.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<h2 id=\"mntl-sc-block_1-0-50\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Different Ways Insurance Companies Score You</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-51\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">We\'ve gone over several different ways insurance companies may \"score\" you to:</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-52\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-53\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<ul>\n<li><span style=\"color: #000000;\">determine your insurability</span></li>\n<li><span style=\"color: #000000;\">give discounts</span></li>\n<li><span style=\"color: #000000;\">use credit score and insurance payment history</span></li>\n<li><span style=\"color: #000000;\">offer better insurance rates and lower prices</span></li>\n</ul>\n</div>\n<div id=\"mntl-sc-block_1-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-55\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">The most important factor in figuring out how insurable you are is to understand what criteria are important to the insurance company.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-56\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-57\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Once you understand how they will be rating you, you can try and renegotiate rates when the factors are in your favor and improve factors that are hurting you or find another insurance company willing to offer you better prices.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14px; text-align: left;\"><span style=\"color: #000000;\">To read the full article,</span> </span><a href=\"https://www.thebalance.com/what-is-insurance-credit-scoring-4156729\">click here</a><span style=\"font-size: 14px; text-align: left;\">.</span></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','389-autosave-v1','','','2020-05-26 23:55:17','2020-05-26 23:55:17','',389,'http://smartinsurance.tips/389-autosave-v1/',0,'revision','',0),(423,1,'2020-05-26 18:12:06','2020-05-26 18:12:06','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.investopedia.com/thmb/trbT7LfgzJhBFplqk4neMvItb0c=/1500x998/filters:fill(auto,1)/GettyImages-580491059-8a6cba4a927e47388aad56d1d6e5f795.jpg\" width=\"799\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br />In a sluggish economy or an outright</span><span> </span><a href=\"https://www.investopedia.com/terms/r/recession.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">recession</a><span style=\"color: #000000;\">, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the </span><a href=\"https://www.investopedia.com/terms/f/financialrisk.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">financial risks</a><span> </span><span style=\"color: #000000;\">everyone should avoid taking during a recession.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard1-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard1-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"1050\">\n<div class=\"spacer\">\n<div id=\"billboard1-dynamic_1-0\" class=\"comp billboard1-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"atf\" data-priority=\"2\" data-sizes=\"[[300, 1050], [300, 600], [160, 600], [300, 250], [1, 2], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"2804217245d448f3bf09b3d32c799261\" data-auction-floor-value=\"255\" data-google-query-id=\"CKfM0-qN0ukCFeiEfwYdx8MAgA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\"><span style=\"color: #000000;\">KEY TAKEAWAYS</span></h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li><span style=\"color: #000000;\">When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.</span></li>\n<li><span style=\"color: #000000;\">Avoid increasing, and if possible reduce, your exposure to these financial risks.</span></li>\n<li><span style=\"color: #000000;\">For example, you\'ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.</span></li>\n<li><span style=\"color: #000000;\">If you\'re an employee, you\'ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.</span></li>\n<li><span style=\"color: #000000;\">If you\'re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.</span></li>\n</ul>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\"><a class=\"heading-toc\" id=\"becoming-a-cosigner\" style=\"color: #000000;\"></a></span></p>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Becoming a Cosigner</span></h2>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><a href=\"https://www.investopedia.com/terms/c/co_sign.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Cosigning</a><span> </span><span style=\"color: #000000;\">a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn,</span><span> </span><a href=\"https://www.investopedia.com/articles/personal-finance/082115/what-are-cosigners-liable-responsible.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">the risks associated with cosigning</a><span style=\"color: #000000;\"> a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner\'s own elevated risk of ending up unemployed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"600\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"37a6758145cd4ad08bf5bf72f2039b93\" data-auction-floor-value=\"135\" data-google-query-id=\"CPG-leuN0ukCFR5PaQod9v4AhA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard2_0__container__\"><span style=\"font-size: 14px; color: #000000;\"> </span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. </span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"e552cf57b33c4ab8a325f57fe3af4aaa\" data-auction-floor-value=\"150\" data-google-query-id=\"COucpO2N0ukCFcIwaQodsukE8g\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking out an Adjustable-Rate Mortgage</span></h2>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">When purchasing a home, you may choose to take out an</span><span> </span><a href=\"https://www.investopedia.com/terms/a/arm.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">adjustable-rate mortgage</a><span> </span><span style=\"color: #000000;\">(ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). </span><a href=\"https://www.investopedia.com/ask/answers/102015/do-interest-rates-increase-during-recession.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\"><span style=\"color: #000000;\">I</span>nterest rates usually fall early in a recession</a><span style=\"color: #000000;\">, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br />But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your</span><span> </span><a href=\"https://www.investopedia.com/terms/c/creditrating.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">credit rating</a><span style=\"color: #000000;\">, making it more difficult to obtain a loan in the future.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [300, 600], [4, 1], [200, 200], [180, 150], [200, 200], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"67c65f9897f94815a75c9520c17de319\" data-auction-floor-value=\"160\" data-google-query-id=\"COC-x-2N0ukCFQ1vXgod2jELxA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br />Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a </span><a href=\"https://www.investopedia.com/mortgage/refinance/9-things-to-know-before-you-refinance-mortgage/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">mortgage refinance</a><span style=\"color: #000000;\">, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\"></div>\n</div>\n<p><span style=\"color: #000000;\"><a class=\"heading-toc\" id=\"taking-on-new-debt\" style=\"color: #000000;\"></a></span></p>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking on New Debt</span></h2>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your </span><a href=\"https://www.investopedia.com/how-to-pay-your-bills-when-you-lose-your-job-4801711\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">ability to pay your debt</a><span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to </span><a href=\"https://www.investopedia.com/terms/b/bankruptcy.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">bankruptcy</a><span style=\"color: #000000;\">. Pay cash if you can, or wait on big new purchases.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking Your Job for Granted</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting </span><a href=\"https://www.investopedia.com/terms/d/dividend.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">dividends</a><span style=\"color: #000000;\">, or shedding jobs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Because </span><a href=\"https://www.investopedia.com/ask/answers/032515/why-does-unemployment-tend-rise-during-recession.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">jobs become so vulnerable during a recession</a><span style=\"color: #000000;\">, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<p><span style=\"color: #000000;\"><a class=\"heading-toc\" id=\"taking-risks-with-investments\" style=\"color: #000000;\"></a></span></p>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"><br />Taking Risks With Investments</span></h2>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for </span><a href=\"https://www.investopedia.com/terms/c/capitalexpenditure.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">capital purchases</a><span style=\"color: #000000;\"> and labor costs for new hiring are low. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Especially avoid investment projects that would require you to take on new debt to finance.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and</span><span> </span><a href=\"https://www.investopedia.com/terms/p/principal.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">principal</a><span> </span><span style=\"color: #000000;\">on time. Wait until interest rates just start to tick upward and </span><a href=\"https://www.investopedia.com/articles/economics/08/leading-economic-indicators.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">leading economic indicators</a><span style=\"color: #000000;\"> for your market or industry turn up.</span></p>\n</div>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There\'s no need to live a monk\'s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and </span><a href=\"https://www.investopedia.com/articles/pf/08/recession-proof-your-life.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">recession-proof your life</a><span style=\"color: #000000;\">. These include</span><span> </span><a href=\"https://www.investopedia.com/personal-finance/personal-finance-apps/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">implementing a realistic budget</a><span style=\"color: #000000;\">, establishing an emergency fund, and generating additional sources of income.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Things You Shouldn\'t Do During a Recession','','inherit','closed','closed','','419-revision-v1','','','2020-05-26 18:12:06','2020-05-26 18:12:06','',419,'http://smartinsurance.tips/419-revision-v1/',0,'revision','',0),(461,1,'2020-05-26 23:58:12','2020-05-26 23:58:12','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"post-headline \" style=\"text-align: justify;\"><strong>How much the average homeowner pays for insurance in the US, by state and home value</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\" style=\"text-align: justify;\">\n<p><img src=\"https://i.insider.com/5ec7ff5a5af6cc656050b68c?width=1200&amp;format=jpeg\" /><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Whether you\'re shopping for a refrigerator, a couch, or a car, one of the first things you\'ll want to know is how much the item \"normally\" costs. And with these types of physical products, it\'s usually relatively easy to do a little online research to get a solid price baseline.</span></p>\n<p><span style=\"color: #000000;\">But it\'s not so easy to do that with intangible products like homeowners insurance. Apart from taking the time to ask all your friends, family, and neighbors what they pay in premiums, it\'s hard to know if the quote you\'ve received is outrageous or a steal.</span></p>\n<p><span style=\"color: #000000;\">Thankfully, there\'s a lot of data available that can help you set realistic expectations for your homeowners insurance cost. In this article, we\'ll look at how much the average homeowner is paying in homeowners insurance premiums, the factors that affect your specific policy, and ways to save.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<nav role=\"navigation\" data-analytics-module=\"jump-to\" class=\"table-of-contents\"></nav>\n<h2 id=\"the-average-cost-of-homeowners-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">The average cost of homeowners insurance</span></h2>\n<p><span style=\"color: #000000;\">According to the most recent release of the Homeowners Insurance Report by the National Association of Insurance Commissioners (NAIC), the average annual premium in the United States in 2017 was $1,211. </span></p>\n<p><span style=\"color: #000000;\">The 2017 average premium — the most recent data available — was a 1.6% increase from the 2016 average of $1,192. Premiums have been steadily rising over the past decade. In 2012, the national average premium was $1,034 and in 2008 it was even lower at $830.</span></p>\n<p><span style=\"color: #000000;\">Your home\'s value plays a large role in how much you pay in insurance premiums. Here\'s how much homeowners insurance costs on average by home value in the United States, according to the NAIC:</span></p>\n<table border=\"1\" cellpadding=\"10px\">\n<tbody>\n<tr>\n<td><span style=\"color: #000000;\"><strong>Estimated Home Value</strong></span></td>\n<td><span style=\"color: #000000;\"><strong>Average Premiums for an HO-3 Policy</strong></span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$49,999 and under</span></td>\n<td><span style=\"color: #000000;\">$633</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$50,000 to $74,999</span></td>\n<td><span style=\"color: #000000;\">$745</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$75,000 to $99,999</span></td>\n<td><span style=\"color: #000000;\">$814</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$100,000 to $124,999</span></td>\n<td><span style=\"color: #000000;\">$870</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$125,000 to $149,999</span></td>\n<td><span style=\"color: #000000;\">$918</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$150,000 to $174,999</span></td>\n<td><span style=\"color: #000000;\">$960</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$175,000 to $199,999</span></td>\n<td><span style=\"color: #000000;\">$997</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$200,000 to $299,999</span></td>\n<td><span style=\"color: #000000;\">$1,092</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$300,000 to $399,999</span></td>\n<td><span style=\"color: #000000;\">$1,252</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$400,000 to $499,999</span></td>\n<td><span style=\"color: #000000;\">$1,467</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$500,000 and above</span></td>\n<td><span style=\"color: #000000;\">$2,149</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from the NAIC.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"the-average-cost-of-homeowners-insurance-by-state\" class=\"toc-header-element\"><span style=\"color: #000000;\">The average cost of homeowners insurance by state</span></h2>\n<p><span style=\"color: #000000;\">Where you live will also impact your cost of homeowners insurance. If you live in an area with high real estate values, this also means that it would cost more to replace your home if it were destroyed. So the NAIC says that average premiums tend to be higher in densely populated areas.</span></p>\n<p><span style=\"color: #000000;\">Second, your potential exposure to catastrophe plays a significant role in what you pay for homeowner\'s insurance. If you live in an area that\'s prone to hurricanes, earthquakes, or tornadoes, you can expect to pay more than someone who lives in an area with less risk of experiencing a natural disaster.</span></p>\n<p><span style=\"color: #000000;\">Here\'s the average annual homeowners insurance premium by state, according to S&amp;P Global Market Intelligence:</span></p>\n<table dir=\"ltr\" border=\"1\" cellspacing=\"0\" cellpadding=\"10px\">\n<colgroup>\n<col width=\"168\" />\n<col width=\"204\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" alabama=\"\"><span style=\"color: #000000;\">Alabama</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1116=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,116</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" alaska=\"\"><span style=\"color: #000000;\">Alaska</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1002=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,002</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" arizona=\"\"><span style=\"color: #000000;\">Arizona</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" arkansas=\"\"><span style=\"color: #000000;\">Arkansas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1091=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,091</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" california=\"\"><span style=\"color: #000000;\">California</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" colorado=\"\"><span style=\"color: #000000;\">Colorado</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :994=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$994</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" connecticut=\"\"><span style=\"color: #000000;\">Connecticut</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1058=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,058</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" delaware=\"\"><span style=\"color: #000000;\">Delaware</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1172=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,172</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" district=\"\" of=\"\" columbia=\"\"><span style=\"color: #000000;\">District of Columbia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1047=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,047</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" florida=\"\"><span style=\"color: #000000;\">Florida</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1117=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,117</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" georgia=\"\"><span style=\"color: #000000;\">Georgia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1137=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,137</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" hawaii=\"\"><span style=\"color: #000000;\">Hawaii</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :977=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$977</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" idaho=\"\"><span style=\"color: #000000;\">Idaho</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" illinois=\"\"><span style=\"color: #000000;\">Illinois</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :924=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$924</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" indiana=\"\"><span style=\"color: #000000;\">Indiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" iowa=\"\"><span style=\"color: #000000;\">Iowa</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :918=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$918</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" kansas=\"\"><span style=\"color: #000000;\">Kansas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :908=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$908</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" kentucky=\"\"><span style=\"color: #000000;\">Kentucky</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1106=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,106</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" louisiana=\"\"><span style=\"color: #000000;\">Louisiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1108=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,108</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maine=\"\"><span style=\"color: #000000;\">Maine</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :989=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$989</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maryland=\"\"><span style=\"color: #000000;\">Maryland</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1212=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,212</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" massachusetts=\"\"><span style=\"color: #000000;\">Massachusetts</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1031=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,031</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" michigan=\"\"><span style=\"color: #000000;\">Michigan</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :919=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$919</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" minnesota=\"\"><span style=\"color: #000000;\">Minnesota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :951=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$951</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" mississippi=\"\"><span style=\"color: #000000;\">Mississippi</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1099=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,099</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" missouri=\"\"><span style=\"color: #000000;\">Missouri</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :897=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$897</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" montana=\"\"><span style=\"color: #000000;\">Montana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :948=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$948</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" nebraska=\"\"><span style=\"color: #000000;\">Nebraska</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :907=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$907</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" nevada=\"\"><span style=\"color: #000000;\">Nevada</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :933=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$933</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" hampshire=\"\"><span style=\"color: #000000;\">New Hampshire</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1049=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,049</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" jersey=\"\"><span style=\"color: #000000;\">New Jersey</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1052=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,052</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" mexico=\"\"><span style=\"color: #000000;\">New Mexico</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :949=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$949</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" york=\"\"><span style=\"color: #000000;\">New York</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :952=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$952</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" north=\"\" carolina=\"\"><span style=\"color: #000000;\">North Carolina</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1118=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,118</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" north=\"\" dakota=\"\"><span style=\"color: #000000;\">North Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" ohio=\"\"><span style=\"color: #000000;\">Ohio</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :895=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$895</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" oklahoma=\"\"><span style=\"color: #000000;\">Oklahoma</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1114=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,114</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" oregon=\"\"><span style=\"color: #000000;\">Oregon</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :950=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$950</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" pennsylvania=\"\"><span style=\"color: #000000;\">Pennsylvania</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1003=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,003</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" rhode=\"\" island=\"\"><span style=\"color: #000000;\">Rhode Island</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :982=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$982</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" carolina=\"\"><span style=\"color: #000000;\">South Carolina</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1126=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,126</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" dakota=\"\"><span style=\"color: #000000;\">South Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :898=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$898</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" tennessee=\"\"><span style=\"color: #000000;\">Tennessee</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1118=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,118</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" texas=\"\"><span style=\"color: #000000;\">Texas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1140=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,140</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" utah=\"\"><span style=\"color: #000000;\">Utah</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1025=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,025</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" vermont=\"\"><span style=\"color: #000000;\">Vermont</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1004=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,004</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" virginia=\"\"><span style=\"color: #000000;\">Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1181=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,181</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" washington=\"\"><span style=\"color: #000000;\">Washington</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :986=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$986</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" west=\"\" virginia=\"\"><span style=\"color: #000000;\">West Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1101=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,101</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wisconsin=\"\"><span style=\"color: #000000;\">Wisconsin</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :903=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$903</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wyoming=\"\"><span style=\"color: #000000;\">Wyoming</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"most-expensive-states-for-homeowners-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">Most expensive states for homeowners insurance</span></h2>\n<p><span style=\"color: #000000;\">Here are the states where annual homeowners insurance premiums are least affordable, on average, according to S&amp;P Global:</span></p>\n<table dir=\"ltr\" border=\"1\" width=\"764\" cellspacing=\"0\" cellpadding=\"10px\">\n<colgroup>\n<col width=\"100\" />\n<col width=\"165\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maryland=\"\"><span style=\"color: #000000;\">Maryland</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1212=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,212</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" virginia=\"\"><span style=\"color: #000000;\">Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1181=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,181</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" delaware=\"\"><span style=\"color: #000000;\">Delaware</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1172=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,172</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" texas=\"\"><span style=\"color: #000000;\">Texas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1140=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,140</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" georgia=\"\"><span style=\"color: #000000;\">Georgia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1137=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,137</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"cheapest-states-for-homeowners-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">Cheapest states for homeowners insurance</span></h2>\n<p><span style=\"color: #000000;\">Here are the states where annual homeowners insurance premiums are most affordable, on average, according to S&amp;P Global:</span></p>\n<table dir=\"ltr\" border=\"1\" width=\"762\" cellspacing=\"0\" cellpadding=\"10px\">\n<colgroup>\n<col width=\"100\" />\n<col width=\"165\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" ohio=\"\"><span style=\"color: #000000;\">Ohio</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :895=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$895</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" missouri=\"\"><span style=\"color: #000000;\">Missouri</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :897=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$897</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" dakota=\"\"><span style=\"color: #000000;\">South Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :898=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$898</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wisconsin=\"\"><span style=\"color: #000000;\">Wisconsin</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :903=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$903</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" indiana=\"\"><span style=\"color: #000000;\">Indiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"the-factors-that-affect-homeowners-insurance-premiums\" class=\"toc-header-element\"><span style=\"color: #000000;\">The factors that affect homeowners insurance premiums</span></h2>\n<p><span style=\"color: #000000;\">As we\'ve already seen, your home\'s value and where it\'s located are two of the biggest variables that affect homeowners insurance prices. However, there are a few other factors that can drive your premiums up or down. </span></p>\n<h3><span style=\"color: #000000;\">Coverage levels</span></h3>\n<p><span style=\"color: #000000;\">The type of coverage you choose will impact the price that you pay for homeowners insurance. <strong>Cash value coverage</strong> is typically the most affordable. With this type of coverage, your insurance company will only pay what your property is worth minus depreciation, not what it would cost to actually <em>replace</em> your home and its belongings.</span></p>\n<p><span style=\"color: #000000;\">For more protection, you can choose <strong>replacement cost coverage</strong> instead. With this type of policy, your insurer will pay out what it would cost to repair or rebuild your home in today\'s dollars.</span></p>\n<p><span style=\"color: #000000;\">For example, if a tree fell through your house and destroyed your couch, a replacement cost policy would pay whatever it costs to replace the couch. But a cash value policy would only pay what the couch is worth today. And if the couch is several years old, its value could be much less than what you originally paid.</span></p>\n<p><span style=\"color: #000000;\">You can expect to pay more for replacement cost coverage, but it may be worth it to protect yourself against coverage gaps that can be caused by depreciation.</span></p>\n<h3><span style=\"color: #000000;\">Other variables</span></h3>\n<p><span style=\"color: #000000;\">Here are a few more factors that can affect the price of your homeowners insurance:</span></p>\n<ul>\n<li><span style=\"color: #000000;\"><strong>The deductible you choose</strong>: As a general rule, premiums go down as deductibles go up.</span></li>\n<li><span style=\"color: #000000;\"><strong>Age of your home</strong>: Older homes often require more work to rebuild to modern safety standards, so they can cost more to insure than newer homes.</span></li>\n<li><span style=\"color: #000000;\"><strong>Condition of your roof</strong>: If your roof is relatively new and in good condition you\'ll typically pay less than a homeowner with a roof that\'s old or built with lower-quality materials</span></li>\n<li><span style=\"color: #000000;\"><strong>Past claims</strong>: You can expect to pay more if you\'ve made several claims in the past or live in an area with a high claims rate.</span></li>\n</ul>\n<h2 class=\"toc-header-element\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"how-to-save-money-on-homeowner\'s-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">How to save money on homeowner\'s insurance</span></h2>\n<h3><span style=\"color: #000000;\">Add features to make your home safer</span></h3>\n<p><span style=\"color: #000000;\">If you\'re looking for ways to reduce your homeowners insurance premiums, think about ways you could improve the safety of your home. Adding any of the following safety features to your home could qualify you for a homeowners insurance discount:</span></p>\n<ul>\n<li><span style=\"color: #000000;\">Smoke detectors</span></li>\n<li><span style=\"color: #000000;\">Deadbolt locks</span></li>\n<li><span style=\"color: #000000;\">Fire extinguishers</span></li>\n<li><span style=\"color: #000000;\">Storm shutters</span></li>\n<li><span style=\"color: #000000;\">Security system</span></li>\n<li><span style=\"color: #000000;\">Sprinkler system</span></li>\n<li><span style=\"color: #000000;\">New or reinforced roof</span></li>\n</ul>\n<h3><span style=\"color: #000000;\">Bundle your insurance policies</span></h3>\n<p><span style=\"color: #000000;\">You may also be able to save on homeowners insurance by bundling your home and auto insurance policies together. </span></p>\n<h3><span style=\"color: #000000;\">Raise your deductible</span></h3>\n<p><span style=\"color: #000000;\">Finally, raising your deductible could reduce your premiums. But make sure that you don\'t set a premium that\'s higher than you\'d be able to pay without going into debt. And know that if you have a mortgage on your home, your lender may require that your deductible stay below a certain limit.</span></p>\n<h3><span style=\"color: #000000;\">Shop around</span></h3>\n<p><span style=\"color: #000000;\">The last variable that can impact the price you pay for home insurance is the company you choose. Premiums can vary widely by insurance company. So one of the best ways to save on homeowners insurance could be simply to make sure that you shop around before choosing an insurance provider.</span></p>\n<p><span style=\"color: #000000;\">Aim to get at least three to five quotes before choosing a home insurer. Or, to save time, you could use an online homeowners insurance shopping tool like Policygenius to compare dozens of insurance companies at once.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.businessinsider.com/personal-finance/average-homeowners-insurance-cost\">click here</a><span style=\"color: #000000;\">.</span></span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How much the average homeowner pays for insurance in the US, by state and home value','','inherit','closed','closed','','380-revision-v1','','','2020-05-26 23:58:12','2020-05-26 23:58:12','',380,'http://smartinsurance.tips/380-revision-v1/',0,'revision','',0),(425,1,'2020-05-26 21:06:17','2020-05-26 21:06:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"post-headline \" style=\"text-align: justify;\"><strong>How much the average homeowner pays for insurance in the US, by state and home value</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\" style=\"text-align: justify;\">\n<p><img src=\"https://i.insider.com/5ec7ff5a5af6cc656050b68c?width=1200&amp;format=jpeg\" /><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Whether you\'re shopping for a refrigerator, a couch, or a car, one of the first things you\'ll want to know is how much the item \"normally\" costs. And with these types of physical products, it\'s usually relatively easy to do a little online research to get a solid price baseline.</span></p>\n<p><span style=\"color: #000000;\">But it\'s not so easy to do that with intangible products like homeowners insurance. Apart from taking the time to ask all your friends, family, and neighbors what they pay in premiums, it\'s hard to know if the quote you\'ve received is outrageous or a steal.</span></p>\n<p><span style=\"color: #000000;\">Thankfully, there\'s a lot of data available that can help you set realistic expectations for your homeowners insurance cost. In this article, we\'ll look at how much the average homeowner is paying in homeowners insurance premiums, the factors that affect your specific policy, and ways to save.</span></p>\n<p>&nbsp;</p>\n<nav role=\"navigation\" data-analytics-module=\"jump-to\" class=\"table-of-contents\"></nav>\n<h2 id=\"the-average-cost-of-homeowners-insurance\" class=\"toc-header-element\">The average cost of homeowners insurance</h2>\n<p>According to the most recent release of the<span> </span><a href=\"https://content.naic.org/article/news_release_naic_releases_report_homeowners_insurance.htm\" target=\"_blank\" rel=\"noopener noreferrer\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"20\">Homeowners Insurance Report</a><span style=\"color: #000000;\"> by the National Association of Insurance Commissioners (NAIC), the average annual premium in the United States in 2017 was $1,211. </span></p>\n<p><span style=\"color: #000000;\">The 2017 average premium — the most recent data available — was a 1.6% increase from the 2016 average of $1,192. Premiums have been steadily rising over the past decade. In 2012, the national average premium was $1,034 and in 2008 it was even lower at $830.</span></p>\n<p><span style=\"color: #000000;\">Your home\'s value plays a large role in how much you pay in insurance premiums. Here\'s how much homeowners insurance costs on average by home value in the United States, according to the NAIC:</span></p>\n<table border=\"1\" cellpadding=\"10px\">\n<tbody>\n<tr>\n<td><span style=\"color: #000000;\"><strong>Estimated Home Value</strong></span></td>\n<td><span style=\"color: #000000;\"><strong>Average Premiums for an HO-3 Policy</strong></span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$49,999 and under</span></td>\n<td><span style=\"color: #000000;\">$633</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$50,000 to $74,999</span></td>\n<td><span style=\"color: #000000;\">$745</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$75,000 to $99,999</span></td>\n<td><span style=\"color: #000000;\">$814</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$100,000 to $124,999</span></td>\n<td><span style=\"color: #000000;\">$870</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$125,000 to $149,999</span></td>\n<td><span style=\"color: #000000;\">$918</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$150,000 to $174,999</span></td>\n<td><span style=\"color: #000000;\">$960</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$175,000 to $199,999</span></td>\n<td><span style=\"color: #000000;\">$997</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$200,000 to $299,999</span></td>\n<td><span style=\"color: #000000;\">$1,092</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$300,000 to $399,999</span></td>\n<td><span style=\"color: #000000;\">$1,252</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$400,000 to $499,999</span></td>\n<td><span style=\"color: #000000;\">$1,467</span></td>\n</tr>\n<tr>\n<td><span style=\"color: #000000;\">$500,000 and above</span></td>\n<td><span style=\"color: #000000;\">$2,149</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from the NAIC.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"the-average-cost-of-homeowners-insurance-by-state\" class=\"toc-header-element\"><span style=\"color: #000000;\">The average cost of homeowners insurance by state</span></h2>\n<p><span style=\"color: #000000;\">Where you live will also impact your cost of homeowners insurance. If you live in an area with high real estate values, this also means that it would cost more to replace your home if it were destroyed. So the NAIC says that average premiums tend to be higher in densely populated areas.</span></p>\n<p><span style=\"color: #000000;\">Second, your potential exposure to catastrophe plays a significant role in what you pay for homeowner\'s insurance. If you live in an area that\'s prone to hurricanes, earthquakes, or tornadoes, you can expect to pay more than someone who lives in an area with less risk of experiencing a natural disaster.</span></p>\n<p><span style=\"color: #000000;\">Here\'s the average annual homeowners insurance premium by state, according to S&amp;P Global Market Intelligence:</span></p>\n<table dir=\"ltr\" border=\"1\" cellspacing=\"0\" cellpadding=\"10px\"><colgroup> <col width=\"168\" /> <col width=\"204\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" alabama=\"\"><span style=\"color: #000000;\">Alabama</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1116=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,116</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" alaska=\"\"><span style=\"color: #000000;\">Alaska</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1002=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,002</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" arizona=\"\"><span style=\"color: #000000;\">Arizona</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" arkansas=\"\"><span style=\"color: #000000;\">Arkansas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1091=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,091</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" california=\"\"><span style=\"color: #000000;\">California</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" colorado=\"\"><span style=\"color: #000000;\">Colorado</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :994=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$994</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" connecticut=\"\"><span style=\"color: #000000;\">Connecticut</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1058=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,058</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" delaware=\"\"><span style=\"color: #000000;\">Delaware</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1172=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,172</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" district=\"\" of=\"\" columbia=\"\"><span style=\"color: #000000;\">District of Columbia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1047=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,047</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" florida=\"\"><span style=\"color: #000000;\">Florida</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1117=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,117</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" georgia=\"\"><span style=\"color: #000000;\">Georgia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1137=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,137</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" hawaii=\"\"><span style=\"color: #000000;\">Hawaii</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :977=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$977</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" idaho=\"\"><span style=\"color: #000000;\">Idaho</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" illinois=\"\"><span style=\"color: #000000;\">Illinois</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :924=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$924</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" indiana=\"\"><span style=\"color: #000000;\">Indiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" iowa=\"\"><span style=\"color: #000000;\">Iowa</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :918=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$918</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" kansas=\"\"><span style=\"color: #000000;\">Kansas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :908=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$908</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" kentucky=\"\"><span style=\"color: #000000;\">Kentucky</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1106=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,106</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" louisiana=\"\"><span style=\"color: #000000;\">Louisiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1108=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,108</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maine=\"\"><span style=\"color: #000000;\">Maine</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :989=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$989</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maryland=\"\"><span style=\"color: #000000;\">Maryland</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1212=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,212</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" massachusetts=\"\"><span style=\"color: #000000;\">Massachusetts</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1031=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,031</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" michigan=\"\"><span style=\"color: #000000;\">Michigan</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :919=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$919</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" minnesota=\"\"><span style=\"color: #000000;\">Minnesota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :951=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$951</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" mississippi=\"\"><span style=\"color: #000000;\">Mississippi</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1099=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,099</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" missouri=\"\"><span style=\"color: #000000;\">Missouri</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :897=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$897</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" montana=\"\"><span style=\"color: #000000;\">Montana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :948=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$948</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" nebraska=\"\"><span style=\"color: #000000;\">Nebraska</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :907=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$907</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" nevada=\"\"><span style=\"color: #000000;\">Nevada</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :933=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$933</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" hampshire=\"\"><span style=\"color: #000000;\">New Hampshire</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1049=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,049</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" jersey=\"\"><span style=\"color: #000000;\">New Jersey</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1052=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,052</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" mexico=\"\"><span style=\"color: #000000;\">New Mexico</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :949=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$949</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" new=\"\" york=\"\"><span style=\"color: #000000;\">New York</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :952=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$952</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" north=\"\" carolina=\"\"><span style=\"color: #000000;\">North Carolina</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1118=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,118</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" north=\"\" dakota=\"\"><span style=\"color: #000000;\">North Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" ohio=\"\"><span style=\"color: #000000;\">Ohio</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :895=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$895</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" oklahoma=\"\"><span style=\"color: #000000;\">Oklahoma</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1114=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,114</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" oregon=\"\"><span style=\"color: #000000;\">Oregon</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :950=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$950</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" pennsylvania=\"\"><span style=\"color: #000000;\">Pennsylvania</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1003=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,003</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" rhode=\"\" island=\"\"><span style=\"color: #000000;\">Rhode Island</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :982=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$982</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" carolina=\"\"><span style=\"color: #000000;\">South Carolina</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1126=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,126</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" dakota=\"\"><span style=\"color: #000000;\">South Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :898=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$898</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" tennessee=\"\"><span style=\"color: #000000;\">Tennessee</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1118=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,118</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" texas=\"\"><span style=\"color: #000000;\">Texas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1140=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,140</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" utah=\"\"><span style=\"color: #000000;\">Utah</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1025=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,025</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" vermont=\"\"><span style=\"color: #000000;\">Vermont</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1004=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,004</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" virginia=\"\"><span style=\"color: #000000;\">Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1181=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,181</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" washington=\"\"><span style=\"color: #000000;\">Washington</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :986=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$986</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" west=\"\" virginia=\"\"><span style=\"color: #000000;\">West Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1101=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$1,101</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wisconsin=\"\"><span style=\"color: #000000;\">Wisconsin</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :903=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$903</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wyoming=\"\"><span style=\"color: #000000;\">Wyoming</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :966=\"\" data-sheets-numberformat=\"{\" :2=\"\" 2=\"\" :=\"\" 0=\"\" :1=\"\"><span style=\"color: #000000;\">$966</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"most-expensive-states-for-homeowners-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">Most expensive states for homeowners insurance</span></h2>\n<p><span style=\"color: #000000;\">Here are the states where annual homeowners insurance premiums are least affordable, on average, according to S&amp;P Global:</span></p>\n<table dir=\"ltr\" border=\"1\" width=\"764\" cellspacing=\"0\" cellpadding=\"10px\"><colgroup> <col width=\"100\" /> <col width=\"165\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" maryland=\"\"><span style=\"color: #000000;\">Maryland</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1212=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,212</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" virginia=\"\"><span style=\"color: #000000;\">Virginia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1181=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,181</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" delaware=\"\"><span style=\"color: #000000;\">Delaware</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1172=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,172</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" texas=\"\"><span style=\"color: #000000;\">Texas</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1140=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,140</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" georgia=\"\"><span style=\"color: #000000;\">Georgia</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :1137=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$1,137</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"cheapest-states-for-homeowners-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">Cheapest states for homeowners insurance</span></h2>\n<p><span style=\"color: #000000;\">Here are the states where annual homeowners insurance premiums are most affordable, on average, according to S&amp;P Global:</span></p>\n<table dir=\"ltr\" border=\"1\" width=\"762\" cellspacing=\"0\" cellpadding=\"10px\"><colgroup> <col width=\"100\" /> <col width=\"165\" /></colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" state=\"\"><span style=\"color: #000000;\"><strong>State</strong></span></td>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" average=\"\" annual=\"\" premium=\"\"><span style=\"color: #000000;\"><strong>Average Annual Premium</strong></span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" ohio=\"\"><span style=\"color: #000000;\">Ohio</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :895=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$895</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" missouri=\"\"><span style=\"color: #000000;\">Missouri</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :897=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$897</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" south=\"\" dakota=\"\"><span style=\"color: #000000;\">South Dakota</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :898=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$898</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" wisconsin=\"\"><span style=\"color: #000000;\">Wisconsin</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :903=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$903</span></td>\n</tr>\n<tr>\n<td data-sheets-value=\"{\" 1=\"\" :2=\"\" 2=\"\" :=\"\" indiana=\"\"><span style=\"color: #000000;\">Indiana</span></td>\n<td data-sheets-value=\"{\" 1=\"\" :3=\"\" 3=\"\" :906=\"\" data-sheets-numberformat=\"[null,2,\" 0=\"\"><span style=\"color: #000000;\">$906</span></td>\n</tr>\n</tbody>\n</table>\n<p><span style=\"color: #000000;\"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>\n<p><span style=\"color: #000000;\"><em></em></span></p>\n<h2 id=\"the-factors-that-affect-homeowners-insurance-premiums\" class=\"toc-header-element\"><span style=\"color: #000000;\">The factors that affect homeowners insurance premiums</span></h2>\n<p><span style=\"color: #000000;\">As we\'ve already seen, your home\'s value and where it\'s located are two of the biggest variables that affect homeowners insurance prices. However, there are a few other factors that can drive your premiums up or down. </span></p>\n<h3><span style=\"color: #000000;\">Coverage levels</span></h3>\n<p><span style=\"color: #000000;\">The type of coverage you choose will impact the price that you pay for homeowners insurance. <strong>Cash value coverage</strong> is typically the most affordable. With this type of coverage, your insurance company will only pay what your property is worth minus depreciation, not what it would cost to actually <em>replace</em> your home and its belongings.</span></p>\n<p><span style=\"color: #000000;\">For more protection, you can choose <strong>replacement cost coverage</strong> instead. With this type of policy, your insurer will pay out what it would cost to repair or rebuild your home in today\'s dollars.</span></p>\n<p><span style=\"color: #000000;\">For example, if a tree fell through your house and destroyed your couch, a replacement cost policy would pay whatever it costs to replace the couch. But a cash value policy would only pay what the couch is worth today. And if the couch is several years old, its value could be much less than what you originally paid.</span></p>\n<p><span style=\"color: #000000;\">You can expect to pay more for replacement cost coverage, but it may be worth it to protect yourself against coverage gaps that can be caused by depreciation.</span></p>\n<h3><span style=\"color: #000000;\">Other variables</span></h3>\n<p><span style=\"color: #000000;\">Here are a few more factors that can affect the price of your homeowners insurance:</span></p>\n<ul>\n<li><span style=\"color: #000000;\"><strong>The deductible you choose</strong>: As a general rule, premiums go down as deductibles go up.</span></li>\n<li><span style=\"color: #000000;\"><strong>Age of your home</strong>: Older homes often require more work to rebuild to modern safety standards, so they can cost more to insure than newer homes.</span></li>\n<li><span style=\"color: #000000;\"><strong>Condition of your roof</strong>: If your roof is relatively new and in good condition you\'ll typically pay less than a homeowner with a roof that\'s old or built with lower-quality materials</span></li>\n<li><span style=\"color: #000000;\"><strong>Past claims</strong>: You can expect to pay more if you\'ve made several claims in the past or live in an area with a high claims rate.</span><span style=\"color: #000000;\"></span></li>\n</ul>\n<h2 class=\"toc-header-element\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"how-to-save-money-on-homeowner\'s-insurance\" class=\"toc-header-element\"><span style=\"color: #000000;\">How to save money on homeowner\'s insurance</span></h2>\n<h3><span style=\"color: #000000;\">Add features to make your home safer</span></h3>\n<p><span style=\"color: #000000;\">If you\'re looking for ways to reduce your homeowners insurance premiums, think about ways you could improve the safety of your home. Adding any of the following safety features to your home could qualify you for a homeowners insurance discount:</span></p>\n<ul>\n<li><span style=\"color: #000000;\">Smoke detectors</span></li>\n<li><span style=\"color: #000000;\">Deadbolt locks</span></li>\n<li><span style=\"color: #000000;\">Fire extinguishers</span></li>\n<li><span style=\"color: #000000;\">Storm shutters</span></li>\n<li><span style=\"color: #000000;\">Security system</span></li>\n<li><span style=\"color: #000000;\">Sprinkler system</span></li>\n<li><span style=\"color: #000000;\">New or reinforced roof</span></li>\n</ul>\n<h3><span style=\"color: #000000;\">Bundle your insurance policies</span></h3>\n<p><span style=\"color: #000000;\">You may also be able to save on homeowners insurance by bundling your home and </span><a href=\"https://www.businessinsider.com/personal-finance/best-car-loans-options\" target=\"_blank\" rel=\"noopener noreferrer\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"100\">auto insurance policies</a><span style=\"color: #000000;\"> together. </span></p>\n<h3><span style=\"color: #000000;\">Raise your deductible</span></h3>\n<p><span style=\"color: #000000;\">Finally, raising your deductible could reduce your premiums. But make sure that you don\'t set a premium that\'s higher than you\'d be able to pay without going into debt. And know that if you have a mortgage on your home, your lender may require that your deductible stay below a certain limit.</span></p>\n<h3><span style=\"color: #000000;\">Shop around</span></h3>\n<p><span style=\"color: #000000;\">The last variable that can impact the price you pay for home insurance is the company you choose. Premiums can vary widely by insurance company. So one of the best ways to save on homeowners insurance could be simply to make sure that you shop around before choosing an insurance provider.</span></p>\n<p><span style=\"color: #000000;\">Aim to get at least three to five quotes before choosing a home insurer. Or, to save time, you could use an online homeowners insurance shopping tool like </span><a href=\"https://policygenius.go2cloud.org/aff_c?offer_id=120&amp;aff_id=1592&amp;redirect_slug=businessinsider-homeowners\" target=\"_blank\" rel=\"noopener noreferrer\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"100\">Policygenius</a><span style=\"color: #000000;\"> to compare dozens of insurance companies at once.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.businessinsider.com/personal-finance/average-homeowners-insurance-cost\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How much the average homeowner pays for insurance in the US, by state and home value','','inherit','closed','closed','','380-revision-v1','','','2020-05-26 21:06:17','2020-05-26 21:06:17','',380,'http://smartinsurance.tips/380-revision-v1/',0,'revision','',0),(719,1,'2020-09-09 20:28:01','2020-09-09 20:28:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"gnt_ar_hl\" elementtiming=\"ar-headline\" style=\"text-align: center;\"><strong>There are still a few tax breaks for working from home</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2020/09/Untitled_Clipping_091020_043946_AM-1024x576.jpg\" width=\"1024\" height=\"576\" alt=\"\" class=\"wp-image-722 aligncenter size-large\" /></div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">DETROIT – Struggling to teach a Zoom class from home this fall or working remotely on a project launch while your own children are home 24/7 seem like patriotic duties that should at least come with a tax break.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Shouldn\'t someone be able to write off a few extra expenses like electricity or high-speed internet when fighting the spread of COVID-19 by working from home all the time? </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Shouldn\'t working from home for six months or possibly more in 2020 account for some kind of tax break? </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Short answer: Well, you probably are not going to like what you hear.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Many people are asking questions about potential tax breaks for home offices these days, as more office workers continue to juggle their lives and jobs from home.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">While General Motors might consider bringing back some workers to the office in the fall, for example, the majority of GM white collar workers could continue working remotely through year-end, according to the company\'s latest plans.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Unfortunately, if you\'re working for someone else, say you\'re an employee of a school district or automaker, the tax rules don\'t allow you to claim a home office deduction for unreimbursed business expenses relating to working from home. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">No such tax deduction is available for W-2 wage earners who are dealing with unreimbursed business expenses, according to James O’Rilley, CPA and tax director for Doeren Mayhew in Troy, Michigan. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Oddly enough, some remote employees would have had more options under the old tax rules if their unreimbursed business expenses, including the cost of a home office, exceeded 2% of their adjusted gross income. One rule then: You had to be required by your employer to work remotely, and not just doing it for your convenience. </span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">But that tax break won\'t work anymore following changes in the Tax Cuts and Jobs Act of 2017. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Beginning in 2018, the new tax law prevents employees from deducting unreimbursed expenses that they incur for their jobs. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"There is no deduction for an employee working out of their house. That went away with the Trump tax cuts,\" said George W. Smith, a CPA with Andrews Hooper Pavlik in Southfield, Michigan.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Another key point: You can no longer deduct expenses related to finding a new job, either. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Even so, some people might be able to take advantage of a few tax breaks. Here\'s a look at some possibilities depending on your situation. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">Self-employed or independent contractors</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you are self-employed or an independent contractor, you can claim a home office deduction. These expenses do not need to exceed 2% of your adjusted gross income but you\'re going to need to meet other tight rules. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">You need a space whose \"regular and exclusive use\" is for business. See IRS Form 8829, which you would file with Schedule C. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"If you are self-employed, you were always eligible to claim business use of home as a deduction,\" O\'Rilley said.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"What may be new for those individuals is with more time spent at home many people have \'invested\' more into their home offices – build-outs, new furniture, increased internet capabilities, copiers, printers, scanners – all which would be eligible for immediate expensing,\" O\'Rilley said. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">When it comes to many build-outs, though, such as adding a back room onto your home, you would not get a deduction if that construction is a structural improvement to real estate, he said.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If you were an independent contractor who went to a job site but now work from home in the pandemic, you can claim the home office deduction for the time you\'re working remotely. But keep records of when you began working from home and your expenses. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Two methods exist for claiming the deduction: You\'d claim a percentage of expenses – such as mortgage or rent, utilities, real estate taxes and homeowners insurance – based on what percentage of your home is used for your business. If 5% of your home is used for business, you\'d take 5% of those expenses. This method demands more records and receipts. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Or the IRS has a simplified method where you could take a maximum deduction of up to $1,500 based on the square footage of your home office multiplied by $5. The maximum allowed is up to 300 square feet for business use of the home, if using this method. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">Teachers</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Whether they\'re holding online classes or teaching in the classroom, teachers continue to receive a deduction of up to $250 for unreimbursed business expenses for classroom materials, such as books, supplies, computers including related software and supplementary materials that you use in the classroom. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">If both spouses are teachers, the deduction can be up to $500 on a joint return. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">The tax break applies to those who teach kindergarten through grade 12. This tax break does not apply for pre-school teachers or college instructors. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Although the statutory language states that the equipment and materials must be “used by the eligible educator in the classroom,” most tax experts believe that this language could apply to a virtual classroom as well as a physical one, according to Wolters Kluwer Tax &amp; Accounting. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n<h2 class=\"gnt_ar_b_h2\"><span style=\"color: #000000;\">Going remote at a condo in another state</span></h2>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Those fortunate enough to choose to work from a lake home in another state could face a few more tax twists. Or maybe not, depending on the tax rules for those states.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Working out of your condo in Florida, if you live in Michigan, isn’t likely to cause tax headaches since Florida doesn’t have a state income tax. Michigan also has reciprocity agreements with neighboring states, like Ohio, so there’s no issue there, O’Rilley said.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Michigan has reciprocity agreements with Illinois, Indiana, Kentucky, Minnesota, Ohio, and Wisconsin. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">But some other states, including New York, will tax income earned in that state even if the person primarily resides and works in another state. Much will depend on how tax rules are worked out in the months ahead. But working remotely elsewhere could mean that you end up having to file two state income tax returns and the arrangement could trigger higher taxes overall, depending on the states. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Mark Luscombe, principal analyst for Wolters Kluwer Tax &amp; Accounting, said 14 states – Alabama, Georgia, Indiana, Iowa, Maryland, Massachusetts, Minnesota, Mississippi, New Jersey, North Dakota, Pennsylvania, Rhode Island, South Carolina, and Vermont – and the District of Columbia have enacted a specific COVID-19 exception. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Those states generally won\'t tax workers who have made a temporary move there because of the pandemic, but state policies can vary. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Congress is also considering legislation to address the issue as it relates to the pandemic, which might change the rules. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Luscombe noted that the Senate proposal as part of its HEALs bill states that only the state of residence can tax the income during this period, so there\'s some concern that some states, like New York, could lose revenue.</span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">Eileen Sherr, senior manager for tax policy and advocacy for the American Institute of CPAs, said state CPA groups should consider advocating that state taxing authorities allow the employee who is temporarily telecommuting to continue to pay tax to the state where employer is located, not where the employee is sheltering in place during the pandemic. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\">\"This treatment would help prevent a double tax where one state uses the convenience of employer test to source wage payments and the other state uses the physical presence standard,\" Sherr said. </span></p>\n<p class=\"gnt_ar_b_p\"><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.usatoday.com/story/money/2020/08/30/claim-tax-breaks-working-from-home/5656066002/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','There are still a few tax breaks for working from home','','publish','closed','closed','','there-are-still-a-few-tax-breaks-for-working-from-home','','','2020-09-09 20:44:00','2020-09-09 20:44:00','',0,'http://smartinsurance.tips/?page_id=719',0,'page','',0),(524,1,'2020-07-16 18:24:34','2020-07-16 18:24:34','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"ArticleHeader-headline\" style=\"text-align: center;\"><strong>Another round of stimulus checks? Extended unemployment? Here are answers to key money questions</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div class=\"group\" style=\"text-align: left;\">\n<p style=\"text-align: right;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106613689-1594655870350gettyimages-1223928876.jpeg?v=1594661223&amp;w=678&amp;h=381\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">For many Americans, budgeting has become a more precarious balancing act these days.</p>\n<p style=\"text-align: right;\">Both sides of the equation — income and expenses — are wrought with uncertainty.</p>\n<div class=\"BoxInline-container  \" style=\"text-align: right;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">What will happen when your unemployment benefits run out? Will you be able to keep up with your credit card payments?</div>\n</div>\n<p style=\"text-align: right;\">Here is some information on where things stand.</p>\n<p style=\"text-align: right;\"></p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: right;\">Will there be another stimulus check?</h2>\n<div class=\"group\">\n<p style=\"text-align: right;\">Another round of cash payments could be coming.</p>\n<p style=\"text-align: right;\">House Democrats passed a $3 trillion stimulus bill, the HEROES Act, in May that included giving $1,200 to each American who earned less than $75,000 a year.</p>\n<p style=\"text-align: justify;\">President Donald Trump called that legislation “dead on arrival,” but the<span> </span>White House has since signaled support<span> </span>for more stimulus checks.</p>\n<p style=\"text-align: justify;\">Most recently, Senate Majority Leader Mitch McConnell, R-Ky., suggested disbursing the funds to people making $40,000 or less a year.</p>\n<p style=\"text-align: justify;\">In an interview last week on CNBC, Treasury Secretary Steven Mnuchin declined to say whether or not he supported that income cap. But he confirmed that the White House was still in favor of<span> </span>another round of payments. And once the details are finalized in the Senate, he said, “we can get that into hard-working Americans’ bank accounts<span> </span>very, very quickly.”</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When will my unemployment checks stop?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">In<span> </span>the same interview<span> </span>on CNBC last week, Mnuchin said another stimulus bill will pass by the end of the month. That’s just when the additional<span> </span>$600 federal weekly unemployment checks are set to expire.</p>\n<p style=\"text-align: justify;\">There’s some hope that the additional federal weekly benefit will continue beyond July. The HEROES Act would<span> </span>continue the $600 until January 2021. In the end, Democrats and Republicans may agree on an extra federal benefit of a smaller amount, said Chad Stone, chief economist at the Center on Budget and Policy Priorities.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\">But without any extension of federal benefits, jobless Americans will receive only their weekly state benefit. The average state check nationwide stands at around<span> </span>$333 a week, with a low of $101 in Oklahoma and a high of $531 in Massachusetts, as of April.</p>\n<p style=\"text-align: justify;\">Workers in most states are typically eligible for state benefits for<span> </span>up to 26 weeks but, thanks to the CARES Act, in many cases they’ll be able to collect the checks for<span> </span>39 weeks.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">Do I have to pay my rent right now?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">During the pandemic, rules around eviction vary by state, and there’s even different protections by cities and counties.</p>\n<p style=\"text-align: justify;\">“There’s no one approach,” said housing expert Emily A. Benfer, who has been investigating and documenting the policies by location. You can learn what rules you’re subject to in a free online spreadsheet, titled “Covid-19 Eviction Moratoria by State, Commonwealth and Territory,” that Benfer has compiled.</p>\n<p style=\"text-align: justify;\">In 29 states, there’s currently no<span> </span>statewide moratorium on evictions. But even in some of these states, there are local protections that have been issued for tenants.</p>\n<p style=\"text-align: justify;\"></p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>And thanks to the CARES Act stimulus package Congress passed in March, you can’t currently be evicted if you live in a property backed by a federal mortgage or are receiving government-assisted housing.</p>\n<p>Government-sponsored lenders Fannie Mae and Freddie Mac released tools recently that help renters search their property to learn if it qualifies for the eviction moratorium. The Urban Institute estimates the provision will cover nearly 30% of the country’s rental units.</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When do I have to start paying my student loans again?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">The CARES Act granted most federal student loan borrowers a reprieve from their monthly payments until October. During that time, interest isn’t supposed to accrue on your loans.</p>\n<p style=\"text-align: justify;\">House Democrats want to extend that break until September 2021.</p>\n<p style=\"text-align: justify;\">“Pretty much nobody thinks that will happen – including me,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps student loan borrowers with free advice and dispute resolution.</p>\n<p style=\"text-align: justify;\"></p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>Still, Mayotte said, “I do think there’s a good chance Congress will extend the waivers until the end of the year.”</p>\n<p>Meanwhile, many lenders of private student loans have offered borrowers a<span> </span>90-day Covid-19 forbearance upon request, said higher education expert Mark Kantrowitz.</p>\n<p>“This suspends the payment obligation, but interest continues to accrue,” Kantrowitz said. “These will likely be extended if borrowers are still experiencing Covid-19-related employment challenges.”</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">And what about my other bills?</h2>\n<p style=\"text-align: justify;\">The situation varies depending on where you live and which bill you’re worried about. For example, New York utility ConEdison pledged it won’t shut off anyone’s lights during the pandemic. Some credit card issuers, including Apple Card, meanwhile, are allowing consumers to defer payments without interest accruing, said Ted Rossman, industry analyst at CreditCards.com.</p>\n<p style=\"text-align: justify;\">“The key is to find out who’s offering what in terms of leniency,” said Jack Gillis, executive director of the Consumer Federation of America.</p>\n<p style=\"text-align: justify;\">“This proactive effort is the best way to determine what bills need to be paid now, and which ones can wait.”</p>\n<p style=\"text-align: justify;\">You can read the full article <a href=\"https://www.cnbc.com/2020/07/13/more-stimulus-checks-unemployment-heres-what-aid-people-could-soon-see.html\">here</a>.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div class=\"InlineImage-imageEmbed hasBkg\" id=\"ArticleBody-InlineImage-106613890\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\">\n<div>\n<div class=\"InlineImage-imageContainer\" role=\"button\" tabindex=\"-1\"><picture data-test=\"Picture\"><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=740&amp;h=416\" media=\"(min-width: 1340px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=630&amp;h=354\" media=\"(min-width: 1020px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=900&amp;h=506\" media=\"(min-width: 760px)\" /></picture></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Another round of stimulus checks? Extended unemployment? Here are answers to key money questions','','publish','closed','closed','','another-round-of-stimulus-checks-extended-unemployment-here-are-answers-to-key-money-questions','','','2020-07-16 18:45:38','2020-07-16 18:45:38','',0,'http://smartinsurance.tips/?page_id=524',0,'page','',0),(525,1,'2020-07-16 18:24:34','2020-07-16 18:24:34','<!-- wp:divi/placeholder /-->','Another round of stimulus checks? Extended unemployment? Here are answers to key money questions','','inherit','closed','closed','','524-revision-v1','','','2020-07-16 18:24:34','2020-07-16 18:24:34','',524,'http://smartinsurance.tips/524-revision-v1/',0,'revision','',0),(527,1,'2020-07-16 18:44:56','2020-07-16 18:44:56','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"ArticleHeader-headline\" style=\"text-align: center;\"><strong>Another round of stimulus checks? Extended unemployment? Here are answers to key money questions</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div class=\"group\" style=\"text-align: left;\">\n<p style=\"text-align: right;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106613689-1594655870350gettyimages-1223928876.jpeg?v=1594661223&amp;w=678&amp;h=381\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">For many Americans, budgeting has become a more precarious balancing act these days.</p>\n<p style=\"text-align: right;\">Both sides of the equation — income and expenses — are wrought with uncertainty.</p>\n<div class=\"BoxInline-container  \" style=\"text-align: right;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">What will happen when your unemployment benefits run out? Will you be able to keep up with your credit card payments?</div>\n</div>\n<p style=\"text-align: right;\">Here is some information on where things stand.</p>\n<p style=\"text-align: right;\"></p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: right;\">Will there be another stimulus check?</h2>\n<div class=\"group\">\n<p style=\"text-align: right;\">Another round of cash payments could be coming.</p>\n<p style=\"text-align: right;\">House Democrats passed a $3 trillion stimulus bill, the HEROES Act, in May that included giving $1,200 to each American who earned less than $75,000 a year.</p>\n<p style=\"text-align: justify;\">President Donald Trump called that legislation “dead on arrival,” but the<span> </span>White House has since signaled support<span> </span>for more stimulus checks.</p>\n<p style=\"text-align: justify;\">Most recently, Senate Majority Leader Mitch McConnell, R-Ky., suggested disbursing the funds to people making $40,000 or less a year.</p>\n<p style=\"text-align: justify;\">In an interview last week on CNBC, Treasury Secretary Steven Mnuchin declined to say whether or not he supported that income cap. But he confirmed that the White House was still in favor of<span> </span>another round of payments. And once the details are finalized in the Senate, he said, “we can get that into hard-working Americans’ bank accounts<span> </span>very, very quickly.”</p>\n<p style=\"text-align: justify;\"> </p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When will my unemployment checks stop?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">In<span> </span>the same interview<span> </span>on CNBC last week, Mnuchin said another stimulus bill will pass by the end of the month. That’s just when the additional<span> </span>$600 federal weekly unemployment checks are set to expire.</p>\n<p style=\"text-align: justify;\">There’s some hope that the additional federal weekly benefit will continue beyond July. The HEROES Act would<span> </span>continue the $600 until January 2021. In the end, Democrats and Republicans may agree on an extra federal benefit of a smaller amount, said Chad Stone, chief economist at the Center on Budget and Policy Priorities.</p>\n<p style=\"text-align: justify;\"> </p>\n<p style=\"text-align: justify;\">But without any extension of federal benefits, jobless Americans will receive only their weekly state benefit. The average state check nationwide stands at around<span> </span>$333 a week, with a low of $101 in Oklahoma and a high of $531 in Massachusetts, as of April.</p>\n<p style=\"text-align: justify;\">Workers in most states are typically eligible for state benefits for<span> </span>up to 26 weeks but, thanks to the CARES Act, in many cases they’ll be able to collect the checks for<span> </span>39 weeks.</p>\n<p style=\"text-align: justify;\"> </p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">Do I have to pay my rent right now?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">During the pandemic, rules around eviction vary by state, and there’s even different protections by cities and counties.</p>\n<p style=\"text-align: justify;\">“There’s no one approach,” said housing expert Emily A. Benfer, who has been investigating and documenting the policies by location. You can learn what rules you’re subject to in a free online spreadsheet, titled “Covid-19 Eviction Moratoria by State, Commonwealth and Territory,” that Benfer has compiled.</p>\n<p style=\"text-align: justify;\">In 29 states, there’s currently no<span> </span>statewide moratorium on evictions. But even in some of these states, there are local protections that have been issued for tenants.</p>\n<p style=\"text-align: justify;\"> </p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>And thanks to the CARES Act stimulus package Congress passed in March, you can’t currently be evicted if you live in a property backed by a federal mortgage or are receiving government-assisted housing.</p>\n<p>Government-sponsored lenders Fannie Mae and Freddie Mac released tools recently that help renters search their property to learn if it qualifies for the eviction moratorium. The Urban Institute estimates the provision will cover nearly 30% of the country’s rental units.</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When do I have to start paying my student loans again?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">The CARES Act granted most federal student loan borrowers a reprieve from their monthly payments until October. During that time, interest isn’t supposed to accrue on your loans.</p>\n<p style=\"text-align: justify;\">House Democrats want to extend that break until September 2021.</p>\n<p style=\"text-align: justify;\">“Pretty much nobody thinks that will happen – including me,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps student loan borrowers with free advice and dispute resolution.</p>\n<p style=\"text-align: justify;\"> </p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>Still, Mayotte said, “I do think there’s a good chance Congress will extend the waivers until the end of the year.”</p>\n<p>Meanwhile, many lenders of private student loans have offered borrowers a<span> </span>90-day Covid-19 forbearance upon request, said higher education expert Mark Kantrowitz.</p>\n<p>“This suspends the payment obligation, but interest continues to accrue,” Kantrowitz said. “These will likely be extended if borrowers are still experiencing Covid-19-related employment challenges.”</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">And what about my other bills?</h2>\n<p style=\"text-align: justify;\">The situation varies depending on where you live and which bill you’re worried about. For example, New York utility ConEdison pledged it won’t shut off anyone’s lights during the pandemic. Some credit card issuers, including Apple Card, meanwhile, are allowing consumers to defer payments without interest accruing, said Ted Rossman, industry analyst at CreditCards.com.</p>\n<p style=\"text-align: justify;\">“The key is to find out who’s offering what in terms of leniency,” said Jack Gillis, executive director of the Consumer Federation of America.</p>\n<p style=\"text-align: justify;\">“This proactive effort is the best way to determine what bills need to be paid now, and which ones can wait.”</p>\n<p style=\"text-align: justify;\">You can read the full article <a href=\"https://www.cnbc.com/2020/07/13/more-stimulus-checks-unemployment-heres-what-aid-people-could-soon-see.html\">here</a>.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div class=\"InlineImage-imageEmbed hasBkg\" id=\"ArticleBody-InlineImage-106613890\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\">\n<div>\n<div class=\"InlineImage-imageContainer\" role=\"button\" tabindex=\"-1\"><picture data-test=\"Picture\"><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=740&amp;h=416\" media=\"(min-width: 1340px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=630&amp;h=354\" media=\"(min-width: 1020px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=900&amp;h=506\" media=\"(min-width: 760px)\" /></picture></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Another round of stimulus checks? Extended unemployment? Here are answers to key money questions','','inherit','closed','closed','','524-revision-v1','','','2020-07-16 18:44:56','2020-07-16 18:44:56','',524,'http://smartinsurance.tips/524-revision-v1/',0,'revision','',0),(530,1,'2020-07-16 18:47:31','2020-07-16 18:47:31','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 spacing=\"4\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0 iifLql Heading-sc-1w5xk2o-1 djGRcp\" size=\"5\" style=\"text-align: center;\"><strong>6 Money-Saving Challenges</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span class=\"lede\"><img src=\"https://www.usnews.com/dims4/USNEWS/fef1481/2147483647/crop/2000x1313%2B0%2B0/resize/640x420/quality/85/?url=http%3A%2F%2Fmedia.beam.usnews.com%2F1a%2F85%2F9b4c7a9342a5999503b874f7afe0%2F200715-stock.jpg\" alt=\"Father and son counting money at home\" style=\"float: left;\" /></span></p>\n<p style=\"text-align: right;\"><span class=\"lede\">IF YOU FIND SAVING<span> </span></span>money a challenge, maybe the problem is that you\'re not actually challenging yourself.</p>\n<p style=\"text-align: right;\"></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p>In other words, maybe you should do a money-saving challenge. As in, play a sort of game to inspire you to save money.</p>\n<p>&nbsp;</p>\n</div>\n<div class=\"Box-w0dun1-0 ArticleBody__RightFloat-u2fa96-0 bAJsPi\" style=\"text-align: right;\">\n<p><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"Box-w0dun1-0 Pullout__PulloutContainer-sc-12urvi-0 xmwVA\">\n<p size=\"2\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0-p dqHsN Heading-sc-1w5xk2o-1 djGRcp\" spacing=\"0\"></p>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\">Money-saving challenges are a trend that have become popular online and are likely to become even more so if the economy continues to sputter.</p>\n<p style=\"text-align: right;\">Seen everywhere from Pinterest to personal finance blogs, these challenges encourage spenders to become savers by hoarding money in creative ways.</p>\n<p style=\"text-align: right;\">Like the famous challenge where you tell yourself to save $1 a week and by the end of the year you\'ll have $52. Of course, that was probably a more impressive money-saving challenge back in, say, 1958.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: justify;\">Still, putting a buck away a week is about as simple a challenge as one can do, and plenty of people likely aren\'t even doing that, if you believe the numerous surveys that have found most Americans don\'t have $300, $400 or<span> </span>$1,000 saved for an emergency.</p>\n<p style=\"text-align: justify;\"></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>If you don\'t save money, it may not be for a lack of money. It may be that you simply haven\'t trained yourself to get into the habit of saving.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>\"The primary problem that keeps people from starting to save money is not that they don\'t know where to find money to save. Rather, it\'s their mindset around money. It is having thoughts like, \'I\'m never going to be able to save enough money or earn enough to make a difference,\'\" says Nev Harris, a financial coach in Pittsburgh who works with business owners and freelancers across the country.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>Harris says that with many people who struggle to save, \"Mentally, they don\'t see the benefit of finding that money by<span> </span>changing their current spending, and so they don\'t start saving for the future because in their mind they feel it won\'t amount to anything significant.\"</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>So if you\'re looking to save money, you may want to try some of these money-saving challenges. Because, after all, as Harris says, \"How do you become wealthy? By saving $1 at a time.\"</p>\n<p>&nbsp;</p>\n</div>\n<p style=\"text-align: justify;\"><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 bfYCZk\" style=\"text-align: justify;\">\n<ul>\n<li>The 52-week savings challenge.</li>\n<li>The \"no spend\" challenge.</li>\n<li>The pantry challenge.</li>\n<li>The \"keep all the change\" challenge.</li>\n<li>The holiday gift challenge.</li>\n<li>The \"pay yourself when you make a money mistake\" challenge.</li>\n</ul>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\"></div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>This is the classic savings challenge alluded to earlier. It\'s been a savings challenge that existed long before people were posting money-saving challenges on social media. Simply decide that you\'re going to save $1 a week or $2 or $5. Something manageable is the key, but preferably something meaningful. If you save $5 a week, you\'d have $260 at the end of the year, which is nice, but you probably aren\'t going to feel all that satisfaction after a year.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>But if you manage to save $100 a week, you\'d have $5,200, which could pay for a vacation or holiday gifts or serve as an emergency fund and so on.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>You could be a lot more creative with these 52-week savings challenges, too. Some people will put $1 a week the first week, $2 a week the second, $3 the third week, and by the 52nd week, you\'re putting $52 a week away. If you did that, by the end of a year, you\'d have $1,378.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<h3 class=\"heading-large\">The \"No Spend\" Challenge</h3>\n<p> <span style=\"font-size: 14px;\">This can be more fun than it sounds. You pick a weekend or a week – whatever seems challenging and yet doable for you – and you spend no money. That should allow an exception for</span><span style=\"font-size: 14px;\"> </span>paying for certain things like bills<span style=\"font-size: 14px;\">. Not paying your water bill or mortgage so you can win a \"no spend\" challenge isn\'t really winning.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>But you could tell yourself for the weekend or a week that you aren\'t spending any money, unless, again, common sense dictates that you need to.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>The idea, obviously, is to save some money by not spending. And it can be fun. You might be forced to come up with some creative workarounds because you suddenly can\'t buy a specific tool that you need – or maybe you\'ll dig deeper in your closet instead of buying new clothes. Maybe since you\'re going to drive less and not gas up the car, you\'ll end up doing more fun things at home. Yes, the no-spend challenge is<span> </span>perfect for these pandemic, sheltering-in-place times.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<h3 class=\"heading-large\">The Pantry Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>This is also a good money-saving challenge for these times – and is a subset of the \"no spend challenge.\" This is a contest in which you declare you won\'t buy any food until you\'ve exhausted all the possibilities from your refrigerator and pantry. You bought those artichoke hearts and that coconut oil for a reason, even if you can\'t remember the reason, right? As long as it\'s not expired, this is your chance to<span> </span>use and consume the food you\'ve already bought<span> </span>and save money for a few days or weeks or however long you can stand not going to the supermarket.</p>\n<p><span style=\"font-size: 14px;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<h3 class=\"heading-large\">The \"Keep All the Change\" Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>A lot of people do this anyway, but you could formalize it. Any time you get change at a store or stumble upon some change in your house, find a jar to put it in. Do it for a year, and see how much you have at the end – and then take it all to a coin counting and collection machine or your bank.</p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\" style=\"text-align: justify;\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>You could also do the spare change challenge in a more modern way and<span> </span>download an app like Acorns. Any time you make a purchase, Acorns will round up the total and take that money and invest the spare change into a diversified investment portfolio.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>There are monthly fees for Acorns, starting at $1 a month.</p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\" style=\"text-align: justify;\">\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<h3 class=\"heading-large\">The Holiday Gift Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>This is an idea that has been around for decades. Many credit unions offer holiday interest-bearing savings accounts, where you put $5 or $10 or whatever a week, every week, and then when December comes, you have money for the holidays.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>It\'s pretty simple – and smart. Think about how much you spent on the holidays last December, or better yet, go to your bank account or credit card statements and tally it all up. Assume that you\'ll spend that much, or more, this December. Then take however many weeks are left and figure out how much you need to put away every week in order to have whatever holiday gift amount you\'d like to have.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>Yes, it may not be fun to put away $15 or $20 or $50 or whatever you feel you need to every week. But in December, you\'ll have bought yourself one of the best gifts you can – the peace of mind of knowing everybody\'s gifts are paid for.</p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\" style=\"text-align: justify;\">\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<h3 class=\"heading-large\">The \"Pay Yourself When You Make a Money Mistake\" Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: justify;\">\n<p>This doesn\'t seem to be much of a national thing, but it could be, and it makes a lot of sense. You could promise yourself that whenever you do something foolish financially, you\'ll put $1 – or $5 – or whatever denomination you like – in a piggy bank or an additional checking account. If you pay a bill late, or if you receive an overdraft fee at the bank, or you do some impulse shopping – whatever rules you come up with – you punish yourself with a fee.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: justify;\">By the end of a year, you\'ll win either way. If you have a lot of money, you\'ll be thankful – but chastened by all of the financial errors you made throughout the year. If you have almost nothing in the account, you can feel great about yourself and how financially responsible you are – and try or invent a different money-saving challenge.</p>\n<p style=\"text-align: justify;\">To read the full article, click <a href=\"https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/money-saving-challenges\">here</a>.</p>\n<p>&nbsp;</p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','6 Money-Saving Challenges','','publish','closed','closed','','6-money-saving-challenges','','','2020-07-17 21:15:40','2020-07-17 21:15:40','',0,'http://smartinsurance.tips/?page_id=530',0,'page','',0),(531,1,'2020-07-16 18:47:31','2020-07-16 18:47:31','<!-- wp:divi/placeholder /-->','6 Money-Saving Challenges','','inherit','closed','closed','','530-revision-v1','','','2020-07-16 18:47:31','2020-07-16 18:47:31','',530,'http://smartinsurance.tips/530-revision-v1/',0,'revision','',0),(539,1,'2020-07-16 20:17:53','2020-07-16 20:17:53','<!-- wp:divi/placeholder /-->','How to Retire During a Pandemic','','inherit','closed','closed','','538-revision-v1','','','2020-07-16 20:17:53','2020-07-16 20:17:53','',538,'http://smartinsurance.tips/538-revision-v1/',0,'revision','',0),(529,1,'2020-07-16 18:45:38','2020-07-16 18:45:38','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"ArticleHeader-headline\" style=\"text-align: center;\"><strong>Another round of stimulus checks? Extended unemployment? Here are answers to key money questions</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div class=\"group\" style=\"text-align: left;\">\n<p style=\"text-align: right;\"><img src=\"https://image.cnbcfm.com/api/v1/image/106613689-1594655870350gettyimages-1223928876.jpeg?v=1594661223&amp;w=678&amp;h=381\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\">For many Americans, budgeting has become a more precarious balancing act these days.</p>\n<p style=\"text-align: right;\">Both sides of the equation — income and expenses — are wrought with uncertainty.</p>\n<div class=\"BoxInline-container  \" style=\"text-align: right;\">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">What will happen when your unemployment benefits run out? Will you be able to keep up with your credit card payments?</div>\n</div>\n<p style=\"text-align: right;\">Here is some information on where things stand.</p>\n<p style=\"text-align: right;\"></p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: right;\">Will there be another stimulus check?</h2>\n<div class=\"group\">\n<p style=\"text-align: right;\">Another round of cash payments could be coming.</p>\n<p style=\"text-align: right;\">House Democrats passed a $3 trillion stimulus bill, the HEROES Act, in May that included giving $1,200 to each American who earned less than $75,000 a year.</p>\n<p style=\"text-align: justify;\">President Donald Trump called that legislation “dead on arrival,” but the<span> </span>White House has since signaled support<span> </span>for more stimulus checks.</p>\n<p style=\"text-align: justify;\">Most recently, Senate Majority Leader Mitch McConnell, R-Ky., suggested disbursing the funds to people making $40,000 or less a year.</p>\n<p style=\"text-align: justify;\">In an interview last week on CNBC, Treasury Secretary Steven Mnuchin declined to say whether or not he supported that income cap. But he confirmed that the White House was still in favor of<span> </span>another round of payments. And once the details are finalized in the Senate, he said, “we can get that into hard-working Americans’ bank accounts<span> </span>very, very quickly.”</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When will my unemployment checks stop?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">In<span> </span>the same interview<span> </span>on CNBC last week, Mnuchin said another stimulus bill will pass by the end of the month. That’s just when the additional<span> </span>$600 federal weekly unemployment checks are set to expire.</p>\n<p style=\"text-align: justify;\">There’s some hope that the additional federal weekly benefit will continue beyond July. The HEROES Act would<span> </span>continue the $600 until January 2021. In the end, Democrats and Republicans may agree on an extra federal benefit of a smaller amount, said Chad Stone, chief economist at the Center on Budget and Policy Priorities.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\">But without any extension of federal benefits, jobless Americans will receive only their weekly state benefit. The average state check nationwide stands at around<span> </span>$333 a week, with a low of $101 in Oklahoma and a high of $531 in Massachusetts, as of April.</p>\n<p style=\"text-align: justify;\">Workers in most states are typically eligible for state benefits for<span> </span>up to 26 weeks but, thanks to the CARES Act, in many cases they’ll be able to collect the checks for<span> </span>39 weeks.</p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">Do I have to pay my rent right now?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">During the pandemic, rules around eviction vary by state, and there’s even different protections by cities and counties.</p>\n<p style=\"text-align: justify;\">“There’s no one approach,” said housing expert Emily A. Benfer, who has been investigating and documenting the policies by location. You can learn what rules you’re subject to in a free online spreadsheet, titled “Covid-19 Eviction Moratoria by State, Commonwealth and Territory,” that Benfer has compiled.</p>\n<p style=\"text-align: justify;\">In 29 states, there’s currently no<span> </span>statewide moratorium on evictions. But even in some of these states, there are local protections that have been issued for tenants.</p>\n<p style=\"text-align: justify;\"></p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>And thanks to the CARES Act stimulus package Congress passed in March, you can’t currently be evicted if you live in a property backed by a federal mortgage or are receiving government-assisted housing.</p>\n<p>Government-sponsored lenders Fannie Mae and Freddie Mac released tools recently that help renters search their property to learn if it qualifies for the eviction moratorium. The Urban Institute estimates the provision will cover nearly 30% of the country’s rental units.</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">When do I have to start paying my student loans again?</h2>\n<div class=\"group\">\n<p style=\"text-align: justify;\">The CARES Act granted most federal student loan borrowers a reprieve from their monthly payments until October. During that time, interest isn’t supposed to accrue on your loans.</p>\n<p style=\"text-align: justify;\">House Democrats want to extend that break until September 2021.</p>\n<p style=\"text-align: justify;\">“Pretty much nobody thinks that will happen – including me,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps student loan borrowers with free advice and dispute resolution.</p>\n<p style=\"text-align: justify;\"></p>\n<div class=\"group\" style=\"text-align: justify;\">\n<p>Still, Mayotte said, “I do think there’s a good chance Congress will extend the waivers until the end of the year.”</p>\n<p>Meanwhile, many lenders of private student loans have offered borrowers a<span> </span>90-day Covid-19 forbearance upon request, said higher education expert Mark Kantrowitz.</p>\n<p>“This suspends the payment obligation, but interest continues to accrue,” Kantrowitz said. “These will likely be extended if borrowers are still experiencing Covid-19-related employment challenges.”</p>\n<p>&nbsp;</p>\n</div>\n<h2 class=\"ArticleBody-subtitle\" style=\"text-align: justify;\">And what about my other bills?</h2>\n<p style=\"text-align: justify;\">The situation varies depending on where you live and which bill you’re worried about. For example, New York utility ConEdison pledged it won’t shut off anyone’s lights during the pandemic. Some credit card issuers, including Apple Card, meanwhile, are allowing consumers to defer payments without interest accruing, said Ted Rossman, industry analyst at CreditCards.com.</p>\n<p style=\"text-align: justify;\">“The key is to find out who’s offering what in terms of leniency,” said Jack Gillis, executive director of the Consumer Federation of America.</p>\n<p style=\"text-align: justify;\">“This proactive effort is the best way to determine what bills need to be paid now, and which ones can wait.”</p>\n<p style=\"text-align: justify;\">You can read the full article <a href=\"https://www.cnbc.com/2020/07/13/more-stimulus-checks-unemployment-heres-what-aid-people-could-soon-see.html\">here</a>.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div class=\"InlineImage-imageEmbed hasBkg\" id=\"ArticleBody-InlineImage-106613890\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\">\n<div>\n<div class=\"InlineImage-imageContainer\" role=\"button\" tabindex=\"-1\"><picture data-test=\"Picture\"><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=740&amp;h=416\" media=\"(min-width: 1340px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=630&amp;h=354\" media=\"(min-width: 1020px)\" /><source srcset=\"https://image.cnbcfm.com/api/v1/image/106613890-1594661654762gettyimages-85184648.jpeg?v=1594661678&amp;w=900&amp;h=506\" media=\"(min-width: 760px)\" /></picture></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Another round of stimulus checks? Extended unemployment? Here are answers to key money questions','','inherit','closed','closed','','524-revision-v1','','','2020-07-16 18:45:38','2020-07-16 18:45:38','',524,'http://smartinsurance.tips/524-revision-v1/',0,'revision','',0),(520,1,'2020-06-26 19:52:49','2020-06-26 19:52:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"polaris__heading polaris__heading--title\" style=\"text-align: center;\"><strong>How New Graduates Can Make the Most of a Terrible Job Market</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<div class=\"polaris__simple-grid--main\">\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzla4\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_9__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><img class=\"polaris__image\" src=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg 376w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@1/v1593086027/GraduationEmpty.jpg 845w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@2/v1593086027/GraduationEmpty.jpg 752w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@2/v1593086027/GraduationEmpty.jpg 1690w\" sizes=\"(max-width: 768px) 376px,(min-width: 768px) 845px,(max-width: 768px) and (min-resolution: 2dppx) 752px,(min-width: 768px) and (min-resolution: 2dppx) 1690px,376px\" width=\"376\" height=\"211\" alt=\"\" role=\"presentation\" style=\"font-size: 14px; text-align: justify; float: left;\" /><span style=\"color: #000000;\">There’s no way to sugarcoat it: The seniors leaving campus this spring are graduating into one of the worst job markets in recent memory.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">With the unemployment rate expected to exceed 20% in the coming months and the U.S. now officially in the grip of a recession, employers are rescinding job offers, delaying start dates and freezing hiring.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">At the same time, COVID-19 is forcing much of the recruitment process to go virtual, upending the career fairs, campus recruitment visits and other services that many students rely on to find their first jobs after graduation.</span></p>\n<p><span style=\"color: #000000;\">According to a survey conducted in June by the National Association of Colleges &amp; Employers, 9% of employers are revoking offers to recent college graduates and 33% are delaying start dates. And as of the end May the number of internships on ZipRecruiter was down 31%.</span></p>\n<p><span style=\"color: #000000;\">For graduates, then, the message is simple: Be realistic and be ready. The job market will get better, and you should be prepared for when it does. The question you should ask yourself is this: How do I use the next few months to be ready to take advantage of the job market as it comes back to life? Here are some specific ideas to help put you on the right path.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000; font-size: 14px; text-align: right;\">Be flexible: Opportunities do exist</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><span style=\"color: #000000;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" style=\"float: left;\" /></span></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Right now, that dream job in the city, working for that dream company, might not happen. But that’s OK. There are still jobs out there. It just might take more work and more flexibility to find them.</span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span><span style=\"color: #000000;\">It’s all about keeping your options open because there are more jobs and internships available than many realize. It\'s just not true that nobody\'s hiring. It’s important to be open to a wide range of opportunities. The best first job out of college is the one that exists! Contact your college’s career service centers to get advice on available jobs and internships. Also, there are a wide range of websites that list jobs that are coming open for recent college graduates. Examples include: Indeed.com, careershift.com, LinkedIn.com and idealist.org</span>.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\"></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlc6\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_19__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><span>Network, network, network</span></span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">My advice would be to start with your alma mater. Many colleges are finding that their alumni and parents are very willing to create opportunities on the fly. It’s just a matter of reaching out and asking. You can do this in two ways:</span></p>\n<ul>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">First, make sure you are communicating with your college’s career center to ask what they are doing to help recent alumni. Also, remember that friends, family members and even your faculty can be helpful.</span></li>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">Second, use LinkedIn and/or your college\'s alumni networking platform or directory to find alumni in your city or profession of choice, and reach out to ask if they will talk with you.</span></li>\n</ul>\n<p><span style=\"color: #000000;\">Before you get on the phone, make sure you do a quick Google search of the person and the company where they work. You don’t need to be an expert on them, but you should be familiar with their career and place of work.</span></p>\n<p><span style=\"color: #000000;\">Once you get the person on the phone, ask them to talk about their career. How did they get started? What was their path to their current job? What mistakes did they make? What advice do they have for you? People like to share their life journey. Before you end the call, ask them if they know of any openings and ask them to suggest somebody else for you to call (and ask for an introduction to that person!).</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Stay engaged</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\"></div>\n</div>\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Be ready to act on the opportunities that arise. Is your résumé up to date? Are you doing all the right things in terms of building a personal brand? A personal brand is the story you tell about yourself and that you want others to tell about you. Your brand is shaped by the skills, experiences and competencies that shape you and your personality. In truth, there has never been a better time to build relationships. There is a lot empathy for recent college graduates in these unprecedented times. </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Also, if you had a job or internship that was rescinded, periodically stay touch with the hiring manger. Send them an email. Call their office and set up a quick phone call check-in. If those don’t work, send a letter. Show you are still interested, earnest and ready to go when they are. </span></p>\n<p><span style=\"color: #000000;\">If there is a position or firm that you are excited about, spend extra time tracking the company on their social media, website and other publications. That way when you connect with the hiring manger you can incorporate that information in your check-in emails.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Don’t let this time go to waste</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzldy\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_29__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">While it is not a particularly great time to be looking for a job per se, it’s never a bad time to develop new skills. There are so many new and different ways to develop career-related skills that weren\'t available even five or 10 years ago, including the growth of career service centers on college campuses.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This also includes new career training offerings on platforms like LinkedIn and Microsoft as well as massive open online courses (MOOCs) that can provide specialized training at low cost or for free. Check out these options at IDEO U and Inside Sherpa.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This is great news for recent graduates as employers are more focused on skills and credentials, and less concerned about what degree you have and where you went to college. Now is the time to skill-up and bring more to the table.  </span></p>\n<p><span style=\"color: #000000;\">So, this summer students should figure out how to add to their skill sets. The truth is employers are going to be very sympathetic to this graduating class. And at some point in the next six months, employers will go from not being able to focus on recent graduates to desperately needing them.  </span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Be prepared to go virtual</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlex\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_34__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Work on your virtual skills. Think ahead about where you would do a virtual interview. You need a quiet room and make sure you know what is on the walls and what the person at the other end will see. Get somebody from your college career service center (or an alum or family friend) to do a mock virtual interview. Zoom, FaceTime and other platforms make this easy and important.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Be sure to test the technology before the interview. Some platforms may require app downloads or have a more detailed log-in process. You’ll want to do all of this in advance so you’re ready to go at interview time.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span>Understand that resilience pays off</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlfn\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_39__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This job market represents an opportunity for new graduates to show employers what they’re really made of, to prove that they are resilient, creative and that they know how to deal with the challenges that life throws at them. Use the summer months to build a narrative about how you turned this time period from a challenge to an opportunity.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">That alone will speak volumes to future employers.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This downturn is temporary, however painful. The job market will return, employers will soon need help and entry-level candidates will again be well positioned to jump on those opportunities. My message is to remain positive, be realistic when looking for work and be ready to go when things start to turn around.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">With the right skills and the right attitude, this coronavirus summer might prove to be a net positive in the careers of today’s graduates that sets them up for success for years to come.</span></p>\n</div>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.kiplinger.com/personal-finance/careers/job-search/600964/how-new-graduates-can-make-the-most-of-a-terrible-job\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How New Graduates Can Make the Most of a Terrible Job Market','','inherit','closed','closed','','515-revision-v1','','','2020-06-26 19:52:49','2020-06-26 19:52:49','',515,'http://smartinsurance.tips/515-revision-v1/',0,'revision','',0),(533,1,'2020-07-16 18:55:04','2020-07-16 18:55:04','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 spacing=\"4\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0 iifLql Heading-sc-1w5xk2o-1 djGRcp\" size=\"5\" style=\"text-align: center;\"><strong>6 Money-Saving Challenges</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span class=\"lede\"><img src=\"https://www.usnews.com/dims4/USNEWS/fef1481/2147483647/crop/2000x1313%2B0%2B0/resize/640x420/quality/85/?url=http%3A%2F%2Fmedia.beam.usnews.com%2F1a%2F85%2F9b4c7a9342a5999503b874f7afe0%2F200715-stock.jpg\" alt=\"Father and son counting money at home\" style=\"float: left;\" /></span></p>\n<p style=\"text-align: right;\"><span class=\"lede\">IF YOU FIND SAVING<span> </span></span>money a challenge, maybe the problem is that you\'re not actually challenging yourself.</p>\n<p style=\"text-align: right;\"></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p>In other words, maybe you should do a money-saving challenge. As in, play a sort of game to inspire you to save money.</p>\n<p>&nbsp;</p>\n</div>\n<div class=\"Box-w0dun1-0 ArticleBody__RightFloat-u2fa96-0 bAJsPi\" style=\"text-align: right;\">\n<p><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"Box-w0dun1-0 Pullout__PulloutContainer-sc-12urvi-0 xmwVA\">\n<p size=\"2\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0-p dqHsN Heading-sc-1w5xk2o-1 djGRcp\" spacing=\"0\"></p>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\">Money-saving challenges are a trend that have become popular online and are likely to become even more so if the economy continues to sputter.</p>\n<p style=\"text-align: right;\">Seen everywhere from Pinterest to personal finance blogs, these challenges encourage spenders to become savers by hoarding money in creative ways.</p>\n<p style=\"text-align: right;\">Like the famous challenge where you tell yourself to save $1 a week and by the end of the year you\'ll have $52. Of course, that was probably a more impressive money-saving challenge back in, say, 1958.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>Still, putting a buck away a week is about as simple a challenge as one can do, and plenty of people likely aren\'t even doing that, if you believe the numerous surveys that have found most Americans don\'t have $300, $400 or<span> </span>$1,000 saved for an emergency.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>If you don\'t save money, it may not be for a lack of money. It may be that you simply haven\'t trained yourself to get into the habit of saving.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>\"The primary problem that keeps people from starting to save money is not that they don\'t know where to find money to save. Rather, it\'s their mindset around money. It is having thoughts like, \'I\'m never going to be able to save enough money or earn enough to make a difference,\'\" says Nev Harris, a financial coach in Pittsburgh who works with business owners and freelancers across the country.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>Harris says that with many people who struggle to save, \"Mentally, they don\'t see the benefit of finding that money by<span> </span>changing their current spending, and so they don\'t start saving for the future because in their mind they feel it won\'t amount to anything significant.\"</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>So if you\'re looking to save money, you may want to try some of these money-saving challenges. Because, after all, as Harris says, \"How do you become wealthy? By saving $1 at a time.\"</p>\n<p>&nbsp;</p>\n</div>\n<p><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 bfYCZk\">\n<ul>\n<li>The 52-week savings challenge.</li>\n<li>The \"no spend\" challenge.</li>\n<li>The pantry challenge.</li>\n<li>The \"keep all the change\" challenge.</li>\n<li>The holiday gift challenge.</li>\n<li>The \"pay yourself when you make a money mistake\" challenge.</li>\n</ul>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\"></div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>This is the classic savings challenge alluded to earlier. It\'s been a savings challenge that existed long before people were posting money-saving challenges on social media. Simply decide that you\'re going to save $1 a week or $2 or $5. Something manageable is the key, but preferably something meaningful. If you save $5 a week, you\'d have $260 at the end of the year, which is nice, but you probably aren\'t going to feel all that satisfaction after a year.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>But if you manage to save $100 a week, you\'d have $5,200, which could pay for a vacation or holiday gifts or serve as an emergency fund and so on.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>You could be a lot more creative with these 52-week savings challenges, too. Some people will put $1 a week the first week, $2 a week the second, $3 the third week, and by the 52nd week, you\'re putting $52 a week away. If you did that, by the end of a year, you\'d have $1,378.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\">The \"No Spend\" Challenge</h3>\n<p> <span style=\"font-size: 14px;\">This can be more fun than it sounds. You pick a weekend or a week – whatever seems challenging and yet doable for you – and you spend no money. That should allow an exception for</span><span style=\"font-size: 14px;\"> </span>paying for certain things like bills<span style=\"font-size: 14px;\">. Not paying your water bill or mortgage so you can win a \"no spend\" challenge isn\'t really winning.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>But you could tell yourself for the weekend or a week that you aren\'t spending any money, unless, again, common sense dictates that you need to.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>The idea, obviously, is to save some money by not spending. And it can be fun. You might be forced to come up with some creative workarounds because you suddenly can\'t buy a specific tool that you need – or maybe you\'ll dig deeper in your closet instead of buying new clothes. Maybe since you\'re going to drive less and not gas up the car, you\'ll end up doing more fun things at home. Yes, the no-spend challenge is<span> </span>perfect for these pandemic, sheltering-in-place times.</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\">The Pantry Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>This is also a good money-saving challenge for these times – and is a subset of the \"no spend challenge.\" This is a contest in which you declare you won\'t buy any food until you\'ve exhausted all the possibilities from your refrigerator and pantry. You bought those artichoke hearts and that coconut oil for a reason, even if you can\'t remember the reason, right? As long as it\'s not expired, this is your chance to<span> </span>use and consume the food you\'ve already bought<span> </span>and save money for a few days or weeks or however long you can stand not going to the supermarket.</p>\n<p><span style=\"font-size: 14px;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\">The \"Keep All the Change\" Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>A lot of people do this anyway, but you could formalize it. Any time you get change at a store or stumble upon some change in your house, find a jar to put it in. Do it for a year, and see how much you have at the end – and then take it all to a coin counting and collection machine or your bank.</p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>You could also do the spare change challenge in a more modern way and<span> </span>download an app like Acorns. Any time you make a purchase, Acorns will round up the total and take that money and invest the spare change into a diversified investment portfolio.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>There are monthly fees for Acorns, starting at $1 a month.</p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\">The Holiday Gift Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>This is an idea that has been around for decades. Many credit unions offer holiday interest-bearing savings accounts, where you put $5 or $10 or whatever a week, every week, and then when December comes, you have money for the holidays.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>It\'s pretty simple – and smart. Think about how much you spent on the holidays last December, or better yet, go to your bank account or credit card statements and tally it all up. Assume that you\'ll spend that much, or more, this December. Then take however many weeks are left and figure out how much you need to put away every week in order to have whatever holiday gift amount you\'d like to have.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>Yes, it may not be fun to put away $15 or $20 or $50 or whatever you feel you need to every week. But in December, you\'ll have bought yourself one of the best gifts you can – the peace of mind of knowing everybody\'s gifts are paid for.</p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\">The \"Pay Yourself When You Make a Money Mistake\" Challenge</h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>This doesn\'t seem to be much of a national thing, but it could be, and it makes a lot of sense. You could promise yourself that whenever you do something foolish financially, you\'ll put $1 – or $5 – or whatever denomination you like – in a piggy bank or an additional checking account. If you pay a bill late, or if you receive an overdraft fee at the bank, or you do some impulse shopping – whatever rules you come up with – you punish yourself with a fee.</p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p>By the end of a year, you\'ll win either way. If you have a lot of money, you\'ll be thankful – but chastened by all of the financial errors you made throughout the year. If you have almost nothing in the account, you can feel great about yourself and how financially responsible you are – and try or invent a different money-saving challenge.</p>\n<p>To read the full article, click <a href=\"https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/money-saving-challenges\">here</a>.</p>\n<p>&nbsp;</p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','6 Money-Saving Challenges','','inherit','closed','closed','','530-revision-v1','','','2020-07-16 18:55:04','2020-07-16 18:55:04','',530,'http://smartinsurance.tips/530-revision-v1/',0,'revision','',0),(509,1,'2020-06-26 17:54:18','2020-06-26 17:54:18','<!-- wp:divi/placeholder /-->','Is Renter’s Insurance Necessary?','','inherit','closed','closed','','508-revision-v1','','','2020-06-26 17:54:18','2020-06-26 17:54:18','',508,'http://smartinsurance.tips/508-revision-v1/',0,'revision','',0),(510,1,'2020-06-26 17:55:19','2020-06-26 17:55:19','[et_pb_section admin_label=\"section\"]\n		[et_pb_row admin_label=\"row\"]\n			[et_pb_column type=\"4_4\"][et_pb_text admin_label=\"Text\"]<!-- wp:divi/placeholder /-->[/et_pb_text][/et_pb_column]\n		[/et_pb_row]\n	[/et_pb_section]','Is Renter’s Insurance Necessary?','','inherit','closed','closed','','508-revision-v1','','','2020-06-26 17:55:19','2020-06-26 17:55:19','',508,'http://smartinsurance.tips/508-revision-v1/',0,'revision','',0),(514,1,'2020-06-26 18:11:42','2020-06-26 18:11:42','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong>Is Renter’s Insurance Necessary?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\" custom_padding=\"0px|||||\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>&nbsp;</p>\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2020/06/Renters-576x1024.png\" width=\"576\" height=\"1024\" alt=\"\" class=\"wp-image-512 aligncenter size-large\" /></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To see the original post, </span><a href=\"https://rismedia.com/2020/06/09/is-renters-insurance-necessary/\">click here</a><span style=\"color: #000000;\">.</span></span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','508-autosave-v1','','','2020-06-26 18:11:42','2020-06-26 18:11:42','',508,'http://smartinsurance.tips/508-autosave-v1/',0,'revision','',0),(512,1,'2020-06-26 18:11:08','2020-06-26 18:11:08','','Renters\'','','inherit','open','closed','','renters','','','2020-06-26 18:11:08','2020-06-26 18:11:08','',0,'http://smartinsurance.tips/wp-content/uploads/2020/06/Renters.png',0,'attachment','image/png',0),(513,1,'2020-06-26 18:11:39','2020-06-26 18:11:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong>Is Renter’s Insurance Necessary?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\" custom_padding=\"0px|||||\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>&nbsp;</p>\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2020/06/Renters-576x1024.png\" width=\"576\" height=\"1024\" alt=\"\" class=\"wp-image-512 aligncenter size-large\" /></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To see the original post, </span><a href=\"https://rismedia.com/2020/06/09/is-renters-insurance-necessary/\">click here</a><span style=\"color: #000000;\">.</span></span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Is Renter’s Insurance Necessary?','','inherit','closed','closed','','508-revision-v1','','','2020-06-26 18:11:39','2020-06-26 18:11:39','',508,'http://smartinsurance.tips/508-revision-v1/',0,'revision','',0),(515,1,'2020-06-26 19:32:06','2020-06-26 19:32:06','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"polaris__heading polaris__heading--title\" style=\"text-align: center;\"><strong>How New Graduates Can Make the Most of a Terrible Job Market</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<div class=\"polaris__simple-grid--main\">\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzla4\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_9__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><img class=\"polaris__image\" src=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg 376w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@1/v1593086027/GraduationEmpty.jpg 845w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@2/v1593086027/GraduationEmpty.jpg 752w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@2/v1593086027/GraduationEmpty.jpg 1690w\" sizes=\"(max-width: 768px) 376px,(min-width: 768px) 845px,(max-width: 768px) and (min-resolution: 2dppx) 752px,(min-width: 768px) and (min-resolution: 2dppx) 1690px,376px\" width=\"376\" height=\"211\" alt=\"\" role=\"presentation\" style=\"font-size: 14px; text-align: justify; float: left;\" /><span style=\"color: #000000;\">There’s no way to sugarcoat it: The seniors leaving campus this spring are graduating into one of the worst job markets in recent memory.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">With the unemployment rate expected to exceed 20% in the coming months and the U.S. now officially in the grip of a recession, employers are rescinding job offers, delaying start dates and freezing hiring.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">At the same time, COVID-19 is forcing much of the recruitment process to go virtual, upending the career fairs, campus recruitment visits and other services that many students rely on to find their first jobs after graduation.</span></p>\n<p><span style=\"color: #000000;\">According to a survey conducted in June by the National Association of Colleges &amp; Employers, 9% of employers are revoking offers to recent college graduates and 33% are delaying start dates. And as of the end May the number of internships on ZipRecruiter was down 31%.</span></p>\n<p><span style=\"color: #000000;\">For graduates, then, the message is simple: Be realistic and be ready. The job market will get better, and you should be prepared for when it does. The question you should ask yourself is this: How do I use the next few months to be ready to take advantage of the job market as it comes back to life? Here are some specific ideas to help put you on the right path.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000; font-size: 14px; text-align: right;\">Be flexible: Opportunities do exist</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><span style=\"color: #000000;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" style=\"float: left;\" /></span></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Right now, that dream job in the city, working for that dream company, might not happen. But that’s OK. There are still jobs out there. It just might take more work and more flexibility to find them.</span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span><span style=\"color: #000000;\">It’s all about keeping your options open because there are more jobs and internships available than many realize. It\'s just not true that nobody\'s hiring. It’s important to be open to a wide range of opportunities. The best first job out of college is the one that exists! Contact your college’s career service centers to get advice on available jobs and internships. Also, there are a wide range of websites that list jobs that are coming open for recent college graduates. Examples include: Indeed.com, careershift.com, LinkedIn.com and idealist.org</span>.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\"></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlc6\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_19__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><span>Network, network, network</span></span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">My advice would be to start with your alma mater. Many colleges are finding that their alumni and parents are very willing to create opportunities on the fly. It’s just a matter of reaching out and asking. You can do this in two ways:</span></p>\n<ul>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">First, make sure you are communicating with your college’s career center to ask what they are doing to help recent alumni. Also, remember that friends, family members and even your faculty can be helpful.</span></li>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">Second, use LinkedIn and/or your college\'s alumni networking platform or directory to find alumni in your city or profession of choice, and reach out to ask if they will talk with you.</span></li>\n</ul>\n<p><span style=\"color: #000000;\">Before you get on the phone, make sure you do a quick Google search of the person and the company where they work. You don’t need to be an expert on them, but you should be familiar with their career and place of work.</span></p>\n<p><span style=\"color: #000000;\">Once you get the person on the phone, ask them to talk about their career. How did they get started? What was their path to their current job? What mistakes did they make? What advice do they have for you? People like to share their life journey. Before you end the call, ask them if they know of any openings and ask them to suggest somebody else for you to call (and ask for an introduction to that person!).</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Stay engaged</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\"></div>\n</div>\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Be ready to act on the opportunities that arise. Is your résumé up to date? Are you doing all the right things in terms of building a personal brand? A personal brand is the story you tell about yourself and that you want others to tell about you. Your brand is shaped by the skills, experiences and competencies that shape you and your personality. In truth, there has never been a better time to build relationships. There is a lot empathy for recent college graduates in these unprecedented times. </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Also, if you had a job or internship that was rescinded, periodically stay touch with the hiring manger. Send them an email. Call their office and set up a quick phone call check-in. If those don’t work, send a letter. Show you are still interested, earnest and ready to go when they are. </span></p>\n<p><span style=\"color: #000000;\">If there is a position or firm that you are excited about, spend extra time tracking the company on their social media, website and other publications. That way when you connect with the hiring manger you can incorporate that information in your check-in emails.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Don’t let this time go to waste</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzldy\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_29__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">While it is not a particularly great time to be looking for a job per se, it’s never a bad time to develop new skills. There are so many new and different ways to develop career-related skills that weren\'t available even five or 10 years ago, including the growth of career service centers on college campuses.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This also includes new career training offerings on platforms like LinkedIn and Microsoft as well as massive open online courses (MOOCs) that can provide specialized training at low cost or for free. Check out these options at IDEO U and Inside Sherpa.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This is great news for recent graduates as employers are more focused on skills and credentials, and less concerned about what degree you have and where you went to college. Now is the time to skill-up and bring more to the table.  </span></p>\n<p><span style=\"color: #000000;\">So, this summer students should figure out how to add to their skill sets. The truth is employers are going to be very sympathetic to this graduating class. And at some point in the next six months, employers will go from not being able to focus on recent graduates to desperately needing them.  </span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Be prepared to go virtual</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlex\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_34__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Work on your virtual skills. Think ahead about where you would do a virtual interview. You need a quiet room and make sure you know what is on the walls and what the person at the other end will see. Get somebody from your college career service center (or an alum or family friend) to do a mock virtual interview. Zoom, FaceTime and other platforms make this easy and important.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Be sure to test the technology before the interview. Some platforms may require app downloads or have a more detailed log-in process. You’ll want to do all of this in advance so you’re ready to go at interview time.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span>Understand that resilience pays off</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlfn\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_39__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This job market represents an opportunity for new graduates to show employers what they’re really made of, to prove that they are resilient, creative and that they know how to deal with the challenges that life throws at them. Use the summer months to build a narrative about how you turned this time period from a challenge to an opportunity.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">That alone will speak volumes to future employers.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This downturn is temporary, however painful. The job market will return, employers will soon need help and entry-level candidates will again be well positioned to jump on those opportunities. My message is to remain positive, be realistic when looking for work and be ready to go when things start to turn around.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">With the right skills and the right attitude, this coronavirus summer might prove to be a net positive in the careers of today’s graduates that sets them up for success for years to come.</span></p>\n</div>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.kiplinger.com/personal-finance/careers/job-search/600964/how-new-graduates-can-make-the-most-of-a-terrible-job\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How New Graduates Can Make the Most of a Terrible Job Market','','publish','closed','closed','','how-new-graduates-can-make-the-most-of-a-terrible-job-market','','','2020-06-26 19:52:49','2020-06-26 19:52:49','',0,'http://smartinsurance.tips/?page_id=515',0,'page','',0),(516,1,'2020-06-26 19:32:06','2020-06-26 19:32:06','<!-- wp:divi/placeholder /-->','How New Graduates Can Make the Most of a Terrible Job Market','','inherit','closed','closed','','515-revision-v1','','','2020-06-26 19:32:06','2020-06-26 19:32:06','',515,'http://smartinsurance.tips/515-revision-v1/',0,'revision','',0),(534,1,'2020-07-16 18:59:05','2020-07-16 18:59:05','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 spacing=\"4\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0 iifLql Heading-sc-1w5xk2o-1 djGRcp\" size=\"5\" style=\"text-align: center;\"><strong>What Is a Retirement Annuity?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"></div>\n<div align=\"center\">\n<p><img src=\"https://www.usnews.com/dims4/USNEWS/940a738/2147483647/thumbnail/640x420/quality/85/?url=http%3A%2F%2Fmedia.beam.usnews.com%2F3e%2F80%2F8a4167424408b8c45a60a751a862%2F200715-seniormanlaptophouse-stock.jpg\" alt=\"Man in his 50s with tattoo, leaning forward with hand on chin, curious expression, doing home finances and online banking\" style=\"float: left;\" /></p>\n<p style=\"text-align: right;\"><span class=\"lede\" style=\"color: #000000; font-size: 14px;\">AN ANNUITY IS AN </span><span style=\"color: #000000; font-size: 14px;\">insurance product that offers guaranteed income. In its simplest form, an annuity involves setting aside a certain amount of money and then receiving regular payments over a designated time period. This might consist of ongoing paychecks that are guaranteed for your lifetime or for the next 10 or 20 years.</span><span style=\"color: #000000; font-size: 14px;\"> </span></p>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p style=\"text-align: left;\"><span style=\"font-size: 14px; color: #000000;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">There are many different kinds of annuities. Before taking action, you’ll want to understand how a retirement annuity works and how to choose the best retirement annuity for your circumstances. Here\'s a look at what’s available on today’s market, along with the pros and cons of using annuities for retirement.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Types of Retirement Annuities</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\" style=\"text-align: right;\">\n<p><span style=\"color: #000000;\">Annuities are complex insurance products with a long list of choices. “Because there are so many different annuities on the market, people often times get confused,” says Michael Hess, a wealth management advisor with WestPac Wealth Partners in Encino, California. “There isn’t a one-size-fits-all annuity.”</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">There are several types of annuities for retirees:</span></p>\n</div>\n<p><span style=\"color: #000000;\"><react-trigger trigger=\"view\"></react-trigger></span></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 bfYCZk\">\n<ul>\n<li><span style=\"color: #000000;\"><b>Fixed annuity</b>: A fixed annuity provides guaranteed payments throughout retirement or over a set period of time.</span></li>\n<li><span style=\"color: #000000;\"><b>Variable annuity</b>: You can choose from a selection of investments, and your retirement payments vary based on the investment performance.</span></li>\n<li><span style=\"color: #000000;\"><b>Fixed-indexed annuity</b>: There is usually a guaranteed minimum income benefit as well as an opportunity for gains because this type of annuity is also tied to a market-based index like the S&amp;P 500.</span></li>\n<li><span style=\"color: #000000;\"><b>Immediate annuity</b>: You make a lump sum payment, and then start receiving regular income payments for the rest of your life or for an indicated time frame.</span></li>\n<li><span style=\"color: #000000;\"><b>Deferred annuity</b>: Payments are issued at a later date, usually after at least one year and sometimes many years later.</span></li>\n</ul>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">While there are many insurance products available, you’ll find several common threads among annuities. “They all offer some sort of guarantee,” says Ian Grove, an associate advisor for Robert Green &amp; Company in Napa, California. The recurring paycheck you will receive is the biggest benefit of annuities, but you also need to watch out for costs. “They all come with some type of surrender charge,” Grove says. This means if you take out funds before an established date, you’ll face additional fees and penalties. For instance, if an annuity has a surrender period of 10 years, you’ll face penalties if you want to use the money for something else during those initial 10 years.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Benefits of a Retirement Annuity</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\"><b></b></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">When you purchase an annuity you shift some of the financial risks of retirement to the insurance company. “With pension plans a thing of the past and Social Security accounting for only a small part of people’s retirement income, having a guaranteed paycheck for life, no matter what the stock market does and no matter how long you live, is a great safety net to have,” Hess says.</span></p>\n</div>\n<div data-ad-collide=\"false\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 hIqQMB Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 lbDnxr\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 UueCe\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Having this low-risk vehicle in your portfolio could also make it easier to take on risks in other areas. Some investors choose an annuity as a way to diversify their portfolio. Furthermore, the funds in an annuity are not taxed until you receive income payments.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Drawbacks of a Retirement Annuity</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">Expect to pay a number of charges to take out and maintain an annuity. “Broadly speaking, fees are higher than traditional investment vehicles,” says Zachary Ashburn, president of Reach Strategic Wealth in Winston-Salem, North Carolina. “Since annuities are frequently marketed with a focus on their investment characteristics, it’s important to note that these fees impact the returns the owner will receive.”</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">The motives for a financial professional to offer you an annuity could stem from their own personal interest. “Insurance companies that create them pay high rates of commissions to encourage salesmen to market them,” Ashburn says. There could be a financial incentive for a salesperson to suggest an annuity as a solution without taking a careful look at your situation.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">It can also be challenging to select the exact type of annuity you want. For instance, “many variable annuities have optional riders that guarantee a death benefit or income payment,” says Alexander Petsis, a financial planner at Anthony Petsis &amp; Associates in Newtown, Pennsylvania. These extra riders may seem beneficial, but they also come with additional fees.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 iYEVvi\">\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<h3 class=\"heading-large\"><span style=\"color: #000000;\">Are Annuities a Good Investment for Retirees?<b></b></span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">When deciding whether an annuity is a good fit for retirement, a solid starting point may be to talk to an advisor who is familiar with annuities. Take care to gauge the financial planner’s experience in the annuity industry. “It would be a good idea to ask the advisor if they personally own the annuity that they are recommending, and if not, why?” Hess says. It may be wise to get several opinions on annuities before committing to a contract.</span></p>\n</div>\n<div data-ad-collide=\"true\" spacing=\"5\" class=\"Box-w0dun1-0 placeAds__InArticleSpace-sc-1q5ympa-1 ifnChL Hide-kg09cx-0 wTbeK\">\n<div class=\"Box-w0dun1-0 placeAds__InArticleAd-sc-1q5ympa-0 cisOSB\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 kJLhlN\"></div>\n</div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">If possible, you may want to avoid working with planners who receive a commission for themselves when selling an annuity. “Consider engaging a fee-only financial planner who does not accept commissions and therefore doesn’t have this conflict of interest in product recommendations,” Ashburn says.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 kRDbto\">\n<p><span style=\"color: #000000;\">One of the best ways to know if an annuity is a good fit is to create a written financial plan. “Then one can select an annuity to fulfill a certain goal within their financial plan,” Petsis says. “If that annuity does not fulfill a specific financial goal, it may not be right for you.”</span></p>\n</div>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://money.usnews.com/money/retirement/aging/articles/what-is-a-retirement-annuity\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','What Is a Retirement Annuity?','','publish','closed','closed','','what-is-a-retirement-annuity','','','2020-07-16 20:16:33','2020-07-16 20:16:33','',0,'http://smartinsurance.tips/?page_id=534',0,'page','',0),(535,1,'2020-07-16 18:59:05','2020-07-16 18:59:05','<!-- wp:divi/placeholder /-->','What Is a Retirement Annuity?','','inherit','closed','closed','','534-revision-v1','','','2020-07-16 18:59:05','2020-07-16 18:59:05','',534,'http://smartinsurance.tips/534-revision-v1/',0,'revision','',0),(518,1,'2020-06-26 19:51:49','2020-06-26 19:51:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"polaris__heading polaris__heading--title\" style=\"text-align: center;\"><strong>How New Graduates Can Make the Most of a Terrible Job Market</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<div class=\"polaris__simple-grid--main\">\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzla4\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_9__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><img class=\"polaris__image\" src=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@1/v1593086027/GraduationEmpty.jpg 376w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@1/v1593086027/GraduationEmpty.jpg 845w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-mobile@2/v1593086027/GraduationEmpty.jpg 752w,https://mediacloud.kiplinger.com/image/private/s--_rgkAbwI--/t_content-image-desktop@2/v1593086027/GraduationEmpty.jpg 1690w\" sizes=\"(max-width: 768px) 376px,(min-width: 768px) 845px,(max-width: 768px) and (min-resolution: 2dppx) 752px,(min-width: 768px) and (min-resolution: 2dppx) 1690px,376px\" width=\"376\" height=\"211\" alt=\"\" role=\"presentation\" style=\"font-size: 14px; text-align: justify; float: left;\" /><span style=\"color: #000000;\">There’s no way to sugarcoat it: The seniors leaving campus this spring are graduating into one of the worst job markets in recent memory.</span></p>\n<p><span style=\"color: #000000;\">With the unemployment rate expected to exceed 20% in the coming months and the U.S. now officially in the grip of a recession, employers are rescinding job offers, delaying start dates and freezing hiring.</span></p>\n<p><span style=\"color: #000000;\">At the same time, COVID-19 is forcing much of the recruitment process to go virtual, upending the career fairs, campus recruitment visits and other services that many students rely on to find their first jobs after graduation.</span></p>\n<p><span style=\"color: #000000;\">According to a survey conducted in June by the National Association of Colleges &amp; Employers, 9% of employers are revoking offers to recent college graduates and 33% are delaying start dates. And as of the end May the number of internships on ZipRecruiter was down 31%.</span></p>\n<p><span style=\"color: #000000;\">For graduates, then, the message is simple: Be realistic and be ready. The job market will get better, and you should be prepared for when it does. The question you should ask yourself is this: How do I use the next few months to be ready to take advantage of the job market as it comes back to life? Here are some specific ideas to help put you on the right path.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000; font-size: 14px; text-align: right;\">Be flexible: Opportunities do exist</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><span style=\"color: #000000;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@1/v1593086285/FlexibleWorkers.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@1/v1593086285/FlexibleWorkers.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-mobile@2/v1593086285/FlexibleWorkers.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--gnS4KUqc--/t_slideshow-image-desktop@2/v1593086285/FlexibleWorkers.jpg 1666w\" style=\"float: left;\" /></span></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Right now, that dream job in the city, working for that dream company, might not happen. But that’s OK. There are still jobs out there. It just might take more work and more flexibility to find them.</span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span><span style=\"color: #000000;\">It’s all about keeping your options open because there are more jobs and internships available than many realize. It\'s just not true that nobody\'s hiring. It’s important to be open to a wide range of opportunities. The best first job out of college is the one that exists! Contact your college’s career service centers to get advice on available jobs and internships. Also, there are a wide range of websites that list jobs that are coming open for recent college graduates. Examples include: Indeed.com, careershift.com, LinkedIn.com and idealist.org</span>.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@1/v1593086371/NetworkingHoneycomb.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@1/v1593086371/NetworkingHoneycomb.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-mobile@2/v1593086371/NetworkingHoneycomb.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--aeIwBICz--/t_slideshow-image-desktop@2/v1593086371/NetworkingHoneycomb.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<p class=\"polaris__image--credits\"></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlc6\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_19__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><span>Network, network, network</span></span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">My advice would be to start with your alma mater. Many colleges are finding that their alumni and parents are very willing to create opportunities on the fly. It’s just a matter of reaching out and asking. You can do this in two ways:</span></p>\n<ul>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">First, make sure you are communicating with your college’s career center to ask what they are doing to help recent alumni. Also, remember that friends, family members and even your faculty can be helpful.</span></li>\n<li style=\"text-align: right;\"><span style=\"color: #000000;\">Second, use LinkedIn and/or your college\'s alumni networking platform or directory to find alumni in your city or profession of choice, and reach out to ask if they will talk with you.</span></li>\n</ul>\n<p><span style=\"color: #000000;\">Before you get on the phone, make sure you do a quick Google search of the person and the company where they work. You don’t need to be an expert on them, but you should be familiar with their career and place of work.</span></p>\n<p><span style=\"color: #000000;\">Once you get the person on the phone, ask them to talk about their career. How did they get started? What was their path to their current job? What mistakes did they make? What advice do they have for you? People like to share their life journey. Before you end the call, ask them if they know of any openings and ask them to suggest somebody else for you to call (and ask for an introduction to that person!).</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure style=\"text-align: right;\"><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@1/v1593086437/ResumeAndLaptop.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@1/v1593086437/ResumeAndLaptop.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-mobile@2/v1593086437/ResumeAndLaptop.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--LYNlp9_X--/t_slideshow-image-desktop@2/v1593086437/ResumeAndLaptop.jpg 1666w\" style=\"float: left;\" /></figure>\n<div class=\"polaris__image--meta\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Stay engaged</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\"></div>\n</div>\n<p class=\"polaris__image--credits\" style=\"text-align: right;\"><span style=\"font-size: 14px; color: #000000;\">Be ready to act on the opportunities that arise. Is your résumé up to date? Are you doing all the right things in terms of building a personal brand? A personal brand is the story you tell about yourself and that you want others to tell about you. Your brand is shaped by the skills, experiences and competencies that shape you and your personality. In truth, there has never been a better time to build relationships. There is a lot empathy for recent college graduates in these unprecedented times. </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Also, if you had a job or internship that was rescinded, periodically stay touch with the hiring manger. Send them an email. Call their office and set up a quick phone call check-in. If those don’t work, send a letter. Show you are still interested, earnest and ready to go when they are. </span></p>\n<p><span style=\"color: #000000;\">If there is a position or firm that you are excited about, spend extra time tracking the company on their social media, website and other publications. That way when you connect with the hiring manger you can incorporate that information in your check-in emails.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Don’t let this time go to waste</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@1/v1593086499/OnlineCareerLearning.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@1/v1593086499/OnlineCareerLearning.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-mobile@2/v1593086499/OnlineCareerLearning.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--UI2iEpOq--/t_slideshow-image-desktop@2/v1593086499/OnlineCareerLearning.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzldy\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_29__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">While it is not a particularly great time to be looking for a job per se, it’s never a bad time to develop new skills. There are so many new and different ways to develop career-related skills that weren\'t available even five or 10 years ago, including the growth of career service centers on college campuses.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This also includes new career training offerings on platforms like LinkedIn and Microsoft as well as massive open online courses (MOOCs) that can provide specialized training at low cost or for free. Check out these options at IDEO U and Inside Sherpa.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This is great news for recent graduates as employers are more focused on skills and credentials, and less concerned about what degree you have and where you went to college. Now is the time to skill-up and bring more to the table.  </span></p>\n<p><span style=\"color: #000000;\">So, this summer students should figure out how to add to their skill sets. The truth is employers are going to be very sympathetic to this graduating class. And at some point in the next six months, employers will go from not being able to focus on recent graduates to desperately needing them.  </span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span style=\"color: #000000;\">Be prepared to go virtual</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@1/v1593086551/OnlineJobInterview.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@1/v1593086551/OnlineJobInterview.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-mobile@2/v1593086551/OnlineJobInterview.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--Mc6Xj6Sx--/t_slideshow-image-desktop@2/v1593086551/OnlineJobInterview.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlex\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_34__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Work on your virtual skills. Think ahead about where you would do a virtual interview. You need a quiet room and make sure you know what is on the walls and what the person at the other end will see. Get somebody from your college career service center (or an alum or family friend) to do a mock virtual interview. Zoom, FaceTime and other platforms make this easy and important.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">Be sure to test the technology before the interview. Some platforms may require app downloads or have a more detailed log-in process. You’ll want to do all of this in advance so you’re ready to go at interview time.</span></p>\n<div class=\"polaris__single-slide\">\n<div class=\"polaris__single-slide--wrapper\">\n<h3 class=\"polaris__heading polaris__single-slide--title\" style=\"text-align: right;\"><span>Understand that resilience pays off</span></h3>\n<div class=\"polaris__single-slide--photo\">\n<div class=\"polaris__image--wrapper lazyloaded\">\n<figure><img class=\"polaris__image lazyloaded\" src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-src=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg\" data-srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" width=\"336\" height=\"189\" alt=\"\" role=\"presentation\" srcset=\"https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@1/v1593086622/CelebrateComputer.jpg 336w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@1/v1593086622/CelebrateComputer.jpg 833w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-mobile@2/v1593086622/CelebrateComputer.jpg 672w,https://mediacloud.kiplinger.com/image/private/s--E5VgabQ1--/t_slideshow-image-desktop@2/v1593086622/CelebrateComputer.jpg 1666w\" style=\"float: left;\" /></figure>\n</div>\n</div>\n</div>\n</div>\n<div class=\"polaris__ad -empty-ad-slot -float-right\">\n<div class=\"polaris__ad--inner\">\n<div id=\"refresh-kbwlzlfn\">\n<div id=\"google_ads_iframe_/359/kiplinger/personal-finance/careers/job-search/building-wealth_39__container__\"></div>\n</div>\n</div>\n</div>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This job market represents an opportunity for new graduates to show employers what they’re really made of, to prove that they are resilient, creative and that they know how to deal with the challenges that life throws at them. Use the summer months to build a narrative about how you turned this time period from a challenge to an opportunity.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">That alone will speak volumes to future employers.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">This downturn is temporary, however painful. The job market will return, employers will soon need help and entry-level candidates will again be well positioned to jump on those opportunities. My message is to remain positive, be realistic when looking for work and be ready to go when things start to turn around.</span></p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\">With the right skills and the right attitude, this coronavirus summer might prove to be a net positive in the careers of today’s graduates that sets them up for success for years to come.</span></p>\n</div>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.kiplinger.com/personal-finance/careers/job-search/600964/how-new-graduates-can-make-the-most-of-a-terrible-job\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How New Graduates Can Make the Most of a Terrible Job Market','','inherit','closed','closed','','515-revision-v1','','','2020-06-26 19:51:49','2020-06-26 19:51:49','',515,'http://smartinsurance.tips/515-revision-v1/',0,'revision','',0),(437,1,'2020-05-26 23:31:01','2020-05-26 23:31:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">10 Insurance Companies Offering Vision Insurance</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.smallbizdaily.com/wp-content/uploads/2020/04/shutterstock_158584532-1-696x435.jpg\" alt=\"small business\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">It’s true. We’re living in tough times. Many small business owners find themselves managing all aspects of their business only to find a way to keep their businesses alive while we attempt to survive during this pandemic, COVID19 aka Coronavirus.</span></p>\n<p><span style=\"color: #000000;\">Until growth allows them the opportunity to hire management, owners will need to manage sales, fulfillment, accounting, bookkeeping, taxes, HR, and employees. There are opportunities to outsource some of this work, and until that opportunity presents itself, there are some things you should consider to keep your employees happy and your company thriving as much as possible.</span></p>\n<div class=\"code-block code-block-14\"></div>\n<h3><span style=\"color: #000000;\"><strong>Precise Record Keeping</strong></span></h3>\n<p><span style=\"color: #000000;\">For small businesses, accurate accounting can make or break a company. If you have opted to do this yourself, make sure you are keeping an accurate record of everything that is coming in, and everything that is going out. The slightest mistake can disrupt your accounting records and complicate things when it’s time to pay employees. There are online accounting tools that can be used to help you keep better records and manage your payroll better.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Pay Your People On Time</strong></span></h3>\n<p><span style=\"color: #000000;\">If you’re one of the lucky businesses that can still keep employees under payroll, the best economic help you can give them is to pay your people on time. Payroll is the anchor that keeps your people showing up and working every day. This is a lifeline for many employees and should be treated as one of the most critical functions of your business. While there are Payroll protection programs already rolled out by the SBA to help employers get payroll processed on time, so your people can continue to be paid fairly, some employees may have to resort to personal or payday loans, to make their ends meet during these uncertain times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Time Management</strong></span></h3>\n<p><span style=\"color: #000000;\">Managing the time employees spend on a given project or task will be valuable to your success. Until you can hire a team of managers, you will need to keep track of the time your employees are spending on projects. This may also involve managing overtime hours, if necessary, to complete a project. These records will be vital and essential to avoid allocating more budget than required to complete the task. For remote employees, this can become even more difficult for a small business. In this case, trust between you and your workers will be necessary.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Prepare For Seasonal Transitions</strong></span></h3>\n<p><span style=\"color: #000000;\">Some companies are more seasonal than others. Accounting firms that specialize in filing government tax returns are far busier January through April than they are the rest of the year. Pool cleaning companies are more active during the summer months than they are in the winter months. If your business is seasonal, and you want to retain good employees during the slow months, you need to prepare for yearly lows by budgeting for events, and setting aside funds to keep your business operating during slow times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Outsource Your Payroll</strong></span></h3>\n<p><span style=\"color: #000000;\">If business is good, you should eventually find yourself in a position to hire a team to manage administrative tasks for you. If you aren’t ready to take on employees for admin work, you should consider outsourcing to an online payroll provider. Payroll services are a convenient and affordable option for any business and offer complementary services like human resources, tax preparation, background checks, and more. Outsourcing is an excellent option for any small business owner.</span></p>\n<h3><span style=\"color: #000000;\"><strong></strong></span></h3>\n<h3><span style=\"color: #000000;\"><strong>Conclusion</strong></span></h3>\n<p><span style=\"color: #000000;\">We’re all going to get through this together. We need to remind our employees that we’re going to be there for them as much as we can, and you can count on them keeping the morale up while we navigate this uncharted territory. If you’re able to keep your company, your finances, and your employees in place throughout this turmoil, the rewards of a stronger bigger company are just around the corner. Stay positive!</span></p>\n<p><span style=\"color: #000000;\">You can read the full article <a href=\"https://www.smallbizdaily.com/how-to-manage-payroll-as-a-small-business-during-and-after-this-pandemic/\">here</a>.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to Manage Payroll as a Small Business During and After this Pandemic','','publish','closed','closed','','how-to-manage-payroll-as-a-small-business-during-and-after-this-pandemic','','','2020-05-26 23:37:05','2020-05-26 23:37:05','',0,'http://smartinsurance.tips/?page_id=437',0,'page','',0),(438,1,'2020-05-26 23:31:01','2020-05-26 23:31:01','<!-- wp:divi/placeholder /-->','How to Manage Payroll as a Small Business During and After this Pandemic','','inherit','closed','closed','','437-revision-v1','','','2020-05-26 23:31:01','2020-05-26 23:31:01','',437,'http://smartinsurance.tips/437-revision-v1/',0,'revision','',0),(440,1,'2020-05-26 23:36:43','2020-05-26 23:36:43','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">10 Insurance Companies Offering Vision Insurance</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">It’s true. We’re living in tough times. Many small business owners find themselves managing all aspects of their business only to find a way to keep their businesses alive while we attempt to survive during this pandemic, COVID19 aka Coronavirus.</span></p>\n<p><span style=\"color: #000000;\">Until growth allows them the opportunity to hire management, owners will need to manage sales, fulfillment, accounting, bookkeeping, taxes, HR, and employees. There are opportunities to outsource some of this work, and until that opportunity presents itself, there are some things you should consider to keep your employees happy and your company thriving as much as possible.</span></p>\n<div class=\"code-block code-block-14\"></div>\n<h3><span style=\"color: #000000;\"><strong>Precise Record Keeping</strong></span></h3>\n<p><span style=\"color: #000000;\">For small businesses, accurate accounting can make or break a company. If you have opted to do this yourself, make sure you are keeping an accurate record of everything that is coming in, and everything that is going out. The slightest mistake can disrupt your accounting records and complicate things when it’s time to pay employees. There are online accounting tools that can be used to help you keep better records and manage your payroll better.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Pay Your People On Time</strong></span></h3>\n<p><span style=\"color: #000000;\">If you’re one of the lucky businesses that can still keep employees under payroll, the best economic help you can give them is to pay your people on time. Payroll is the anchor that keeps your people showing up and working every day. This is a lifeline for many employees and should be treated as one of the most critical functions of your business. While there are Payroll protection programs already rolled out by the SBA to help employers get payroll processed on time, so your people can continue to be paid fairly, some employees may have to resort to personal or payday loans, to make their ends meet during these uncertain times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Time Management</strong></span></h3>\n<p><span style=\"color: #000000;\">Managing the time employees spend on a given project or task will be valuable to your success. Until you can hire a team of managers, you will need to keep track of the time your employees are spending on projects. This may also involve managing overtime hours, if necessary, to complete a project. These records will be vital and essential to avoid allocating more budget than required to complete the task. For remote employees, this can become even more difficult for a small business. In this case, trust between you and your workers will be necessary.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Prepare For Seasonal Transitions</strong></span></h3>\n<p><span style=\"color: #000000;\">Some companies are more seasonal than others. Accounting firms that specialize in filing government tax returns are far busier January through April than they are the rest of the year. Pool cleaning companies are more active during the summer months than they are in the winter months. If your business is seasonal, and you want to retain good employees during the slow months, you need to prepare for yearly lows by budgeting for events, and setting aside funds to keep your business operating during slow times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Outsource Your Payroll</strong></span></h3>\n<p><span style=\"color: #000000;\">If business is good, you should eventually find yourself in a position to hire a team to manage administrative tasks for you. If you aren’t ready to take on employees for admin work, you should consider outsourcing to an online payroll provider. Payroll services are a convenient and affordable option for any business and offer complementary services like human resources, tax preparation, background checks, and more. Outsourcing is an excellent option for any small business owner.</span></p>\n<h3><span style=\"color: #000000;\"><strong></strong></span></h3>\n<h3><span style=\"color: #000000;\"><strong>Conclusion</strong></span></h3>\n<p><span style=\"color: #000000;\">We’re all going to get through this together. We need to remind our employees that we’re going to be there for them as much as we can, and you can count on them keeping the morale up while we navigate this uncharted territory. If you’re able to keep your company, your finances, and your employees in place throughout this turmoil, the rewards of a stronger bigger company are just around the corner. Stay positive!</span></p>\n<p><span style=\"color: #000000;\">You can read the full article <a href=\"https://www.smallbizdaily.com/how-to-manage-payroll-as-a-small-business-during-and-after-this-pandemic/\">here</a>.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to Manage Payroll as a Small Business During and After this Pandemic','','inherit','closed','closed','','437-revision-v1','','','2020-05-26 23:36:43','2020-05-26 23:36:43','',437,'http://smartinsurance.tips/437-revision-v1/',0,'revision','',0),(442,1,'2020-05-26 23:37:05','2020-05-26 23:37:05','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">10 Insurance Companies Offering Vision Insurance</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.smallbizdaily.com/wp-content/uploads/2020/04/shutterstock_158584532-1-696x435.jpg\" alt=\"small business\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">It’s true. We’re living in tough times. Many small business owners find themselves managing all aspects of their business only to find a way to keep their businesses alive while we attempt to survive during this pandemic, COVID19 aka Coronavirus.</span></p>\n<p><span style=\"color: #000000;\">Until growth allows them the opportunity to hire management, owners will need to manage sales, fulfillment, accounting, bookkeeping, taxes, HR, and employees. There are opportunities to outsource some of this work, and until that opportunity presents itself, there are some things you should consider to keep your employees happy and your company thriving as much as possible.</span></p>\n<div class=\"code-block code-block-14\"></div>\n<h3><span style=\"color: #000000;\"><strong>Precise Record Keeping</strong></span></h3>\n<p><span style=\"color: #000000;\">For small businesses, accurate accounting can make or break a company. If you have opted to do this yourself, make sure you are keeping an accurate record of everything that is coming in, and everything that is going out. The slightest mistake can disrupt your accounting records and complicate things when it’s time to pay employees. There are online accounting tools that can be used to help you keep better records and manage your payroll better.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Pay Your People On Time</strong></span></h3>\n<p><span style=\"color: #000000;\">If you’re one of the lucky businesses that can still keep employees under payroll, the best economic help you can give them is to pay your people on time. Payroll is the anchor that keeps your people showing up and working every day. This is a lifeline for many employees and should be treated as one of the most critical functions of your business. While there are Payroll protection programs already rolled out by the SBA to help employers get payroll processed on time, so your people can continue to be paid fairly, some employees may have to resort to personal or payday loans, to make their ends meet during these uncertain times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Time Management</strong></span></h3>\n<p><span style=\"color: #000000;\">Managing the time employees spend on a given project or task will be valuable to your success. Until you can hire a team of managers, you will need to keep track of the time your employees are spending on projects. This may also involve managing overtime hours, if necessary, to complete a project. These records will be vital and essential to avoid allocating more budget than required to complete the task. For remote employees, this can become even more difficult for a small business. In this case, trust between you and your workers will be necessary.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Prepare For Seasonal Transitions</strong></span></h3>\n<p><span style=\"color: #000000;\">Some companies are more seasonal than others. Accounting firms that specialize in filing government tax returns are far busier January through April than they are the rest of the year. Pool cleaning companies are more active during the summer months than they are in the winter months. If your business is seasonal, and you want to retain good employees during the slow months, you need to prepare for yearly lows by budgeting for events, and setting aside funds to keep your business operating during slow times.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h3><span style=\"color: #000000;\"><strong>Outsource Your Payroll</strong></span></h3>\n<p><span style=\"color: #000000;\">If business is good, you should eventually find yourself in a position to hire a team to manage administrative tasks for you. If you aren’t ready to take on employees for admin work, you should consider outsourcing to an online payroll provider. Payroll services are a convenient and affordable option for any business and offer complementary services like human resources, tax preparation, background checks, and more. Outsourcing is an excellent option for any small business owner.</span></p>\n<h3><span style=\"color: #000000;\"><strong></strong></span></h3>\n<h3><span style=\"color: #000000;\"><strong>Conclusion</strong></span></h3>\n<p><span style=\"color: #000000;\">We’re all going to get through this together. We need to remind our employees that we’re going to be there for them as much as we can, and you can count on them keeping the morale up while we navigate this uncharted territory. If you’re able to keep your company, your finances, and your employees in place throughout this turmoil, the rewards of a stronger bigger company are just around the corner. Stay positive!</span></p>\n<p><span style=\"color: #000000;\">You can read the full article <a href=\"https://www.smallbizdaily.com/how-to-manage-payroll-as-a-small-business-during-and-after-this-pandemic/\">here</a>.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to Manage Payroll as a Small Business During and After this Pandemic','','inherit','closed','closed','','437-revision-v1','','','2020-05-26 23:37:05','2020-05-26 23:37:05','',437,'http://smartinsurance.tips/437-revision-v1/',0,'revision','',0),(508,1,'2020-06-26 17:54:18','2020-06-26 17:54:18','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong>Is Renter’s Insurance Necessary?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\" custom_padding=\"0px|||||\"]<div align=\"center\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>&nbsp;</p>\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2020/06/Renters-576x1024.png\" width=\"576\" height=\"1024\" alt=\"\" class=\"wp-image-512 aligncenter size-large\" /></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To see the original post, </span><a href=\"https://rismedia.com/2020/06/09/is-renters-insurance-necessary/\">click here</a><span style=\"color: #000000;\">.</span></span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Is Renter’s Insurance Necessary?','','publish','closed','closed','','is-renters-insurance-necessary','','','2020-06-26 18:11:39','2020-06-26 18:11:39','',0,'http://smartinsurance.tips/?page_id=508',0,'page','',0),(447,1,'2020-05-26 23:46:48','2020-05-26 23:46:48','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">How to Negotiate a Change in Your Home Insurance Value</span></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"><img src=\"https://www.thebalance.com/thmb/LEyK4WQc6VuD7fvEMMwyJ1CO15U=/2123x1412/filters:fill(auto,1)/when-you-disagree-with-the-insurance-dwelling-value-of-your-home-57eb19053df78c690f204dcc.jpg\" width=\"800\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></p>\n<p><span style=\"color: #000000;\">If you\'re looking at your homeowner\'s insurance policy and the ever-increasing premium, you may be wondering why your home\'s insured value seems high. You would not be the first homeowner to do so. There are several things you can do if you disagree with the listed dwelling\'s value or the estimated reconstruction cost of your home—whether it be too low or too high. You want to make sure that the insurance value—and the associated</span><span> </span>premium<span style=\"color: #000000;\">—is accurate and that you are not over- or under-insuring your property.</span></p>\n<p><span style=\"color: #000000; font-size: 14px;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Adjusting the Home Value of Your Policy</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">That undervalued coverage may be the case, but the only way to know is to review the values listed on your insurance policy every year and make sure that you have the right amount of insurance. When people think the insured values of their home and possessions are a little low, they can easily get their policy adjusted or</span><span> </span>add coverages by endorsement<span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"1037aa8329a5404eb09f87146b39adb9\" data-auction-floor-value=\"165\" data-google-query-id=\"CI78-72R0OkCFXQA-QAdK68IdA\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">On the other side of this dilemma, however, are the owners who feel they are overinsured. The problem arises when you look at your insurance policy and feel like your dwelling\'s value has increased too much over the years, and it now looks like you have more insurance coverage than you need. If you are on this side of the equation, you should know that two out of three homes in America are underinsured, yet people still think their insurance is too high.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Making Sure Your Insurance Is on Target</span></h2>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<p><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">When it comes to a</span><span> </span>major home insurance claim<span style=\"color: #000000;\">, most people who run into problems during the claims process are the ones who have underinsured their home. Despite this, many policyholders look at the cost of insurance and seek places to cut costs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">New homeowners are often surprised to see what their insurance is costing them. Also, people who have had coverage for a long time get frustrated when they see their homeowner\'s premium increase while the resale value of their home may not be as high.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Many factors—besides the market value of the structure—go into determining your annual premium. These factors include:</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<ul>\n<li><span style=\"color: #000000;\">Costs to repair or replace the building</span></li>\n<li><span style=\"color: #000000;\">The age of the home</span></li>\n<li><span style=\"color: #000000;\">Its location</span></li>\n<li><span style=\"color: #000000;\">The number of residents</span></li>\n<li><span style=\"color: #000000;\">The size of the home</span></li>\n<li><span style=\"color: #000000;\">Your past claims history</span></li>\n</ul>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Insurance providers keep the exact calculation for the setting of premiums private. However, most will use these and other factors.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Before you try to adjust the value of your home down, you need to consider discounts or other ways to reduce the cost of insurance.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Three Ways Your Dwelling Value Increases </span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000; font-size: 14px;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000; font-size: 14px;\">Before we get into what you can do about a dwelling value that you find too high, it\'s important to understand the two main reasons your dwelling value may be at that amount. Your value on your home insurance policy can increase due to one of three factors, inflation, insurance inspection, and the cost of reconstruction.</span></h2>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">Inflation</span></h3>\n<div id=\"mntl-sc-block_1-0-24\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Your home insurance has a clause to protect you from the costs of</span><span> </span>inflation<span style=\"color: #000000;\"> and increases the dwelling insured value every year accordingly by a small percentage. Over five to 10 years, this inflation increase may become significant, and it might be time for you to review if your dwelling value is still accurate to be sure it is not overinflated.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">Inspection</span></h3>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">You may have had an evaluator come to your house for an</span><span> </span>insurance home inspection<span style=\"color: #000000;\">. The inspector reviewed the condition of the home and calculated the cost of reconstruction and recommended an increase in the dwelling value to your home insurer.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"native-placeholder_2-0\" class=\"comp native-placeholder mntl-block\"></div>\n<div id=\"native_2-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\" data-ad-width=\"fluid\" data-ad-height=\"fluid\">\n<div id=\"native\" class=\"wrapper\" data-type=\"native\" data-pos=\"native\" data-priority=\"4\" data-sizes=\"[[1,3], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-google-query-id=\"CJnp-72R0OkCFfsG-QAdA40H_A\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/native_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">Reconstruction</span></h3>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Even if you just bought a new home and are insuring it for the first time, the agent or insurance broker did some calculations. They used a standard cost tool and basic information you provided them with to determine the insured dwelling reconstruction cost.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [4, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"dbff504a20214a7fac3f54f844e2fd3b\" data-auction-floor-value=\"180\" data-google-query-id=\"CP767uWR0OkCFVEC-QAd_d4B3w\">\n<div><span style=\"font-size: 26px; color: #000000;\"></span></div>\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/billboard4_0__container__\"><span style=\"font-size: 26px; color: #000000;\"><br />Disagreeing With the Insured Value</span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">People often think that just because an insurance company sends them something, it is written in stone. However, the insurance estimate for the reconstruction of your home can be wrong.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard5-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard5-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard5-dynamic_2-0\" class=\"comp js-billboard-lazy billboard5-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard5\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf4\" data-priority=\"7\" data-sizes=\"[[300, 250], [300, 254], [6, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"null\" data-auction-floor-id=\"59d731bfa4d6478abb345da2b89a89bc\" data-auction-floor-value=\"160\" data-google-query-id=\"CPDzjOaR0OkCFYm97AodRnEEdg\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/billboard5_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Your insurance is about protecting your assets, so if you feel something is off, you have every right to call your representative and ask questions or request a review. Very often, if you have a good case to present, your insurance broker or agent will submit your request to the insurance underwriter, and your case can be reviewed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-36\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\">\n<div id=\"billboard6-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard6-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard6-dynamic_1-0\" class=\"comp js-billboard-lazy billboard6-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard6\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf5\" data-priority=\"8\" data-sizes=\"[[300, 250], [300, 255], [7, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"7dffa7996d214977afbe045cc069d3b1\" data-auction-floor-value=\"175\" data-google-query-id=\"CJqHpOaR0OkCFYiJ7AodSusM3Q\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/billboard6_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Inflation Adjustments</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Insurance companies put in place inflation adjustment clauses to protect you when you insure your home. The idea is that if you insure your home and then five years later you have a claim, you won\'t come up short on the amount of money needed to rebuild after a claim because of this inflation adjustment.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-39\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_9-0\" class=\"comp mntl-block\">\n<div id=\"billboard7-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard7-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard7-dynamic_1-0\" class=\"comp js-billboard-lazy billboard7-dynamic billboard-lazy mntl-lazy-ad mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard7\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf6\" data-priority=\"9\" data-sizes=\"[[300, 250], [300, 256], [8, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"975521d71a8b475d82b4221a2e340000\" data-auction-floor-value=\"165\" data-google-query-id=\"CKW8v-aR0OkCFcYR-QAdmZQNVA\">\n<div id=\"google_ads_iframe_/479/thebalance/bal_home-insurance/billboard7_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Unfortunately, the accuracy of this method relies on the home having been insured at an appropriate value in the first place. It also assumes that the cost of materials and construction has, in fact, increased due to inflation since you first insured your home. In some cases, these factors may be off.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-41\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">In the case of standard inflation increases over a long period, it is always a good idea to re-evaluate your dwelling value using current reconstruction rates. Your insurance representative is in a good position to discuss your dwelling value with you, so it\'s a good idea to call and ask if you have any questions. You may be able to get an adjustment simply by calling and having a discussion.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Ways to Negotiate the Insured Value</span></h2>\n<div id=\"mntl-sc-block_1-0-45\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">If a discussion about the increase does not yield favorable results and you still disagree with the insurance provider\'s numbers, then you can try and negotiate them.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-47\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">Double-check calculations</span></h3>\n<div id=\"mntl-sc-block_1-0-48\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Ask your insurance company to double-check their calculations. Verify the square footage they used and compare the cost per square foot they are using with the general standard in your area, according to local builders. You can always try and negotiate with the insurance company on these issues, and sometimes they will offer you a compromise or alternative solution. Remember that your insurance representative is there to help you.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-51\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-52\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\"></span></h3>\n<h3 id=\"mntl-sc-block_1-0-53\" class=\"comp mntl-sc-block mntl-sc-block-subheading\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">Independent appraiser</span></h3>\n<div id=\"mntl-sc-block_1-0-54\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Hire an independent appraiser who is accepted by insurance companies for insurance appraisals. Before you do this, make sure your insurance company will accept the report your appraiser will provide. You do not want to waste money on this if your insurance company will not even accept it. The appraiser must be using tools and methods that are insurance company approved.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-55\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-56\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">You may also want to beware that in most cases, these in-house appraisals will be more accurate and therefore, may result in higher appraisal amounts. In some cases, they do result in lower appraisal amounts, but the differences would rarely be substantially different.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-58\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">You may want to tell an appraiser before you hire them of the estimate you already have, as well as the cost per square foot your insurer used. A good local appraiser will be able to tell you off the bat if that\'s in the normal range and may be able to save you money and time.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-59\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-60\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Coverage Requirements and Policy Type</span></h2>\n<div id=\"mntl-sc-block_1-0-61\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Insurance companies often offer several types of insurance coverage for homes. Guaranteed </span>replacement cost<span> </span><span style=\"color: #000000;\">will insure you to the stated replacement value—plus a certain percentage over the insured dwelling value. This added percentage is for if the cost of reconstruction ends up being higher than expected in the event of a claim.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-62\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-63\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Some companies may cap the guaranteed value at 125% of your insured dwelling value. Others may offer a guaranteed replacement, \"no matter what the cost.\" Ask your insurance representative</span><span> </span>what kind of home insurance coverage you have<span style=\"color: #000000;\">.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-64\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-65\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Guaranteed Replacement coverage usually requires you to insure to 100% of the evaluated reconstruction cost of your dwelling. This coverage is the best kind of coverage because it protects you no matter what, but you also have other less expensive options.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-67\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Understanding Replacement Cost</span></h2>\n<div id=\"mntl-sc-block_1-0-68\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Replacement cost is different than guaranteed replacement cost because it will not pay out in a claim more than the insured value. If you feel your evaluation is too high—and you don\'t think you need guaranteed replacement cost—you still need to take a pause.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-69\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-70\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">You must be convinced a lesser amount than the evaluated dwelling value will cover you sufficiently in a case of a claim. If you are comfortable, then you can take your chances and ask your insurance company if there is a possibility to lower your insurance cost by getting replacement cost versus guaranteed replacement cost.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-72\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Usually, the conditions to get replacement costs are that you insure to a certain percentage of the evaluated dwelling value of your home. Different insurers offer different plans. These plans usually range in the requirement to insure 80% or 85% of the reconstruction value.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-74\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Insurance varies by state jurisdiction, so be sure and ask about this from your insurer. This prior knowledge could avoid the entire argument about whether or not the value is correct and allows you to have a safe middle ground if you are comfortable with taking on the risk.<br /><br /></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-75\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-76\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Changes by Increasing or Reducing Insured Value</span></h2>\n<div id=\"mntl-sc-block_1-0-77\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">Many of the coverages on the</span><span> </span>homeowner insurance policy<span> </span><span style=\"color: #000000;\">are allotted as a percentage of the insured dwelling value. For example, your personal belongings and contents may be set at 70% of the building value. Your additional living expenses may be set at 10% or 20% of the total insured value.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-79\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Any time your insured dwelling value changes, make sure you review how it will impact the rest of the coverages on your policy—especially where it is related to contents and your personal belongings. Sometimes the value of the items in your home may be worth much more than the average person. In these cases, you want to be careful when you reduce your dwelling value since it will also reduce the related insurance amounts for:</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-81\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<ul>\n<li><span style=\"color: #000000;\">Additional living expenses</span></li>\n<li><span style=\"color: #000000;\">Personal contents</span></li>\n<li><span style=\"color: #000000;\">Detached and additional structures</span></li>\n</ul>\n</div>\n<div id=\"mntl-sc-block_1-0-82\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-83\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\">Reducing your home insurance dwelling value does not impact the liability coverage on your home policy, </span>riders<span> </span><span style=\"color: #000000;\">or special endorsements, or the special limits within the policy.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-84\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h2 id=\"mntl-sc-block_1-0-85\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Other Options to Save on Insurance Costs</span></h2>\n<div id=\"mntl-sc-block_1-0-86\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\">If after evaluating the factors and options for why your dwelling insured value is as high as it is, you still want to find ways to save on insurance.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-87\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-88\" class=\"comp mntl-sc-block mntl-sc-block-html\">\n<ul>\n<li><span style=\"color: #000000;\">Consider increasing the deductible on your policy; this could save you up to 40% on your insurance costs.</span></li>\n<li><span style=\"color: #000000;\">Bundle your insurance: You can ask for a quote for your home and </span>car insurance<span> </span><span style=\"color: #000000;\">with the same company and take advantage of the cost savings from bundling your insurance. </span></li>\n<li><span style=\"color: #000000;\">Get quotes from other companies. A lot of people worry that if they cancel their policy before the renewal date, they will get hit with a penalty for canceling. What most people don\'t realize is that if you are </span>canceling ​a policy<span style=\"color: #000000;\"> mid-term or before your insurance renewal to save money or get more coverages, then it pays to cancel your policy early.</span></li>\n</ul>\n<p><span style=\"color: #000000;\"></span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span><span style=\"color: #000000;\">To read the full article,</span> <a href=\"https://www.thebalance.com/how-to-negotiate-a-change-in-your-home-insurance-value-4094720\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How to Negotiate a Change in Your Home Insurance Value','','inherit','closed','closed','','396-revision-v1','','','2020-05-26 23:46:48','2020-05-26 23:46:48','',396,'http://smartinsurance.tips/396-revision-v1/',0,'revision','',0),(451,1,'2020-05-26 23:49:08','2020-05-26 23:49:08','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>5 Things You Shouldn\'t Do During a Recession</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><img src=\"https://www.investopedia.com/thmb/trbT7LfgzJhBFplqk4neMvItb0c=/1500x998/filters:fill(auto,1)/GettyImages-580491059-8a6cba4a927e47388aad56d1d6e5f795.jpg\" width=\"799\" height=\"532\" style=\"display: block; margin-left: auto; margin-right: auto;\" /><br /> In a sluggish economy or an outright</span><span> </span>recession<span style=\"color: #000000;\">, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the </span>financial risks<span> </span><span style=\"color: #000000;\">everyone should avoid taking during a recession.</span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_3-0\" class=\"comp mntl-block\">\n<div id=\"billboard1-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard1-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"1050\">\n<div class=\"spacer\">\n<div id=\"billboard1-dynamic_1-0\" class=\"comp billboard1-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"atf\" data-priority=\"2\" data-sizes=\"[[300, 1050], [300, 600], [160, 600], [300, 250], [1, 2], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"2804217245d448f3bf09b3d32c799261\" data-auction-floor-value=\"255\" data-google-query-id=\"CKfM0-qN0ukCFeiEfwYdx8MAgA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-3\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\" style=\"text-align: justify;\"><span style=\"color: #000000;\">KEY TAKEAWAYS</span></h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li><span style=\"color: #000000;\">When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.</span></li>\n<li><span style=\"color: #000000;\">Avoid increasing, and if possible reduce, your exposure to these financial risks.</span></li>\n<li><span style=\"color: #000000;\">For example, you\'ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.</span></li>\n<li><span style=\"color: #000000;\">If you\'re an employee, you\'ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.</span></li>\n<li><span style=\"color: #000000;\">If you\'re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.</span></li>\n</ul>\n</div>\n</div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Becoming a Cosigner</span></h2>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p>Cosigning<span> </span><span style=\"color: #000000;\">a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn,</span><span> </span>the risks associated with cosigning<span style=\"color: #000000;\"> a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner\'s own elevated risk of ending up unemployed.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_4-0\" class=\"comp mntl-block\">\n<div id=\"billboard2-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard2-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard2-dynamic_1-0\" class=\"comp billboard2-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"600\">\n<div id=\"billboard2\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf1\" data-priority=\"3\" data-sizes=\"[[300, 250], [300, 600], [300, 601], [160, 600], [300, 251], [2, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"37a6758145cd4ad08bf5bf72f2039b93\" data-auction-floor-value=\"135\" data-google-query-id=\"CPG-leuN0ukCFR5PaQod9v4AhA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard2_0__container__\"><span style=\"font-size: 14px; color: #000000;\"> </span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-8\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. </span></p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_5-0\" class=\"comp mntl-block\">\n<div id=\"billboard3-sticky-dynamic_1-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard3-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard3-dynamic_1-0\" class=\"comp billboard3-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard3\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf2\" data-priority=\"5\" data-sizes=\"[[300, 250], [300, 252], [3, 1], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"e552cf57b33c4ab8a325f57fe3af4aaa\" data-auction-floor-value=\"150\" data-google-query-id=\"COucpO2N0ukCFcIwaQodsukE8g\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard3_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<h2 id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking out an Adjustable-Rate Mortgage</span></h2>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">When purchasing a home, you may choose to take out an</span><span> </span>adjustable-rate mortgage<span> </span><span style=\"color: #000000;\">(ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). </span><span style=\"color: #000000;\">I</span>nterest rates usually fall early in a recession<span style=\"color: #000000;\">, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-2\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-16\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your</span><span> </span>credit rating<span style=\"color: #000000;\">, making it more difficult to obtain a loan in the future.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_7-0\" class=\"comp mntl-block\">\n<div id=\"billboard4-sticky-dynamic_2-0\" class=\"comp scads-to-load right-rail__item billboard-sticky billboard4-sticky-dynamic billboard-sticky--sc scads-stick-in-parent scads-ad-placed scads-stuck-bottom\" data-height=\"600\">\n<div class=\"spacer\">\n<div id=\"billboard4-dynamic_2-0\" class=\"comp billboard4-dynamic mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt billboard dynamic\" data-ad-width=\"300\" data-ad-height=\"250\">\n<div id=\"billboard4\" class=\"wrapper\" data-type=\"billboard\" data-pos=\"btf3\" data-priority=\"6\" data-sizes=\"[[300, 250], [300, 253], [300, 600], [4, 1], [200, 200], [180, 150], [200, 200], &quot;fluid&quot;]\" data-rtb=\"true\" data-targeting=\"{}\" data-auction-floor-id=\"67c65f9897f94815a75c9520c17de319\" data-auction-floor-value=\"160\" data-google-query-id=\"COC-x-2N0ukCFQ1vXgod2jELxA\">\n<div id=\"google_ads_iframe_/479/investopedia/inv_budgeting-and-savings/billboard4_0__container__\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\"><br /> Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a </span>mortgage refinance<span style=\"color: #000000;\">, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-block_8-0\" class=\"comp mntl-block\"></div>\n</div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking on New Debt</span></h2>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your </span>ability to pay your debt<span style=\"color: #000000;\">.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to </span>bankruptcy<span style=\"color: #000000;\">. Pay cash if you can, or wait on big new purchases.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n</div>\n<h2 id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Taking Your Job for Granted</span></h2>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting </span>dividends<span style=\"color: #000000;\">, or shedding jobs.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-28\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">Because </span>jobs become so vulnerable during a recession<span style=\"color: #000000;\">, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.</span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<p><span style=\"color: #000000;\"></span></p>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"><br /> Taking Risks With Investments</span></h2>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for </span>capital purchases<span style=\"color: #000000;\"> and labor costs for new hiring are low. </span></p>\n</div>\n<div id=\"mntl-sc-block_1-0-32\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\" style=\"text-align: justify;\">\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp theme-tip mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">Especially avoid investment projects that would require you to take on new debt to finance.</span></p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and</span><span> </span>principal<span> </span><span style=\"color: #000000;\">on time. Wait until interest rates just start to tick upward and </span>leading economic indicators<span style=\"color: #000000;\"> for your market or industry turn up.</span></p>\n</div>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\"></span></h2>\n<h2 id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">The Bottom Line</span></h2>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p><span style=\"color: #000000;\">There\'s no need to live a monk\'s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and </span>recession-proof your life<span style=\"color: #000000;\">. These include</span><span> </span>implementing a realistic budget<span style=\"color: #000000;\">, establishing an emergency fund, and generating additional sources of income.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></div>\n<div align=\"center\" style=\"text-align: justify;\"><span><span style=\"color: #000000;\">To read the full article, </span><a href=\"https://www.investopedia.com/articles/pf/09/avoid-five-recession-risks.asp\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Things You Shouldn\'t Do During a Recession','','inherit','closed','closed','','419-revision-v1','','','2020-05-26 23:49:08','2020-05-26 23:49:08','',419,'http://smartinsurance.tips/419-revision-v1/',0,'revision','',0),