(1455,1,'2021-04-13 20:14:17','2021-04-13 20:14:17','[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;\"><span style=\"color: #0c0c0c;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Understanding Condo Insurance and Co-op Insurance</span></strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Condo-insurance.jpg\" width=\"496\" height=\"342\" alt=\"\" class=\"wp-image-1458 aligncenter size-full\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<h2 class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\">1. </span><span class=\"mntl-sc-block-heading__text\">The Essential Information You Need to Buy the Best Condo Insurance</span></span></strong></span></h2>\n<p style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-2\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you own a condominium (condo) or cooperative apartment (co-op) or are thinking of buying one?</span></h2>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Insurance for co-ops and condos is a lot more complicated than homeowner insurance. A lot of people invest in condos without understanding the full implication of their responsibility or may run into a series of frustrations and surprises because they didn\'t understand how their condo insurance works. Co-ops also have their own issues, very much like condos.</span></p>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You can avoid problems and save money by understanding exactly how your condo or co-op insurance works, how it relates to your association policy, and what your responsibilities will be if you have a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you really need condo insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Every condo owner or co-op owner should have their own insurance. One of the problems that owners face when purchasing condos or coops is confusion about the insurance. Unlike homeowners, they do not always need to provide a binder of insurance to the mortgage company, because the basic building itself is insured on the condo or homeowner association policy. This sometimes leads condo owners to think that everything is covered, so they forget about purchasing the individual policy. </span></p>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">This step-by-step will take you through the insurance basics of owning a property like a condo and a co-op as well as tips to help you figure out the coverage you need so you don\'t have any surprises or extra expenses in a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The two insurance policies you need for a condo or co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-5\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you own a condo or co-op you will have two insurance policies that cover your investment in your unit and personal belongings. </span></p>\n<ol id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your own insurance policy</span></li>\n<li><span style=\"color: #0c0c0c;\">The master policy, which is managed by the condo association, homeowners association, or co-op board</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Your own condo insurance covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your Personal Liability </span></li>\n<li><span style=\"color: #0c0c0c;\">Your Personal Property</span></li>\n<li><span style=\"color: #0c0c0c;\">Your Improvements, Betterments, Additions, or Alterations</span></li>\n<li><span style=\"color: #0c0c0c;\">Loss Assessment </span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In addition to the basic coverages, condo, and all residential insurance policies contain numerous clauses which limit coverages on certain items of high value. Depending on how relevant each of these coverages is to you personally, you may also want to learn more about a rider for jewelry, fine arts or other limited items, as well as umbrella liability.</span></p>\n<p id=\"mntl-sc-block_1-0-9\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Your insurance representative will be able to review your coverage options and recommend suitable insurance endorsements if you would like to adjust or improve your coverage. </span></p>\n<h2 id=\"mntl-sc-block_2-0-15\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Claims Problems Specific to Condo Owners</span></h2>\n<p id=\"mntl-sc-block_1-0-10\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you have a claim that involves the building and your unit, you are not just dealing with one insurance company or policy. A condo or co-op owner will have to rely on both the building master policy and their own policy to settle the claim. Sometimes if a third party like another unit owner is also involved and you feel they were negligent or responsible for the damage, then the insurance of the other unit owner may also come into play. All insurers will have to figure out what each party\'s actual loss is and who is responsible for paying before settling the claim. This is often a several step claims process.</span></p>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">A common type of claim in condos and coops where several of the insurance policies are required to pay out is water damage claims.</span></p>\n<p id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Depending on the type of coverage the master HOA policy has, you may also run into gaps in coverage. Don\'t get stuck in a difficult or unexpected claim situation.</span></p>\n<h2 id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What you need to know about condo insurance</span></h2>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">We are going to cover everything you need to know about the insurance implications for your condo insurance so that if a claim happens you know exactly what you\'re in for, and how to get the best claim settlement. Including:</span></p>\n<ul id=\"mntl-sc-block_1-0-14\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Condo Insurance: Unit Assessment Coverage and Shared Areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Questions You Need to Ask Your Condo Association about the HOA Insurance</span></li>\n<li><span style=\"color: #0c0c0c;\">Understanding All In vs Bare Walls In HOA Master Policy Coverage</span></li>\n<li><span style=\"color: #0c0c0c;\">Major Risks and Perils Not Automatically Covered In Most Condo and Co-op Policies</span></li>\n<li><span style=\"color: #0c0c0c;\">Warning: Not Reading Your HOA or Condo Association Insurance Policy Could Cost You Hundreds Of Thousands of Dollars</span></li>\n</ul>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\"></span></p>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">First, let\'s start with the difference between condo and co-op, and homeowner insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">2. <span class=\"mntl-sc-block-heading__text\">Difference Between Condo Insurance and Home Insurance and Co-ops</span></span></strong></span></p>\n<p id=\"mntl-sc-block_1-0-17\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Although co-ops and condos may seem quite similar as living spaces, they are actually very different legally and financially. Because of the legal differences between condos and co-ops, the way they are insured varies. </span></p>\n<h2 id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Getting the Best Insurance for Your Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">To understand condo insurance and co-op insurance we need to look at the difference between condos and coops and how the needs for these types of homeowners vary from standard single-family homeowners needs</span></p>\n<h2 id=\"mntl-sc-block_2-0-28\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a co-op work?</span></h2>\n<p id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Co-op\'s (sometimes referred to as coops) are owned by a corporation, which means that as an owner of the unit, you don\'t actually own the building or the property, what you do own is a share of the holdings of the corporation. Small co-ops may only have two or three owners, whereas large co-ops may have hundreds of shareholders. In the event of a loss, the share of ownership in the building will come into play. Think of co-ops as multi-unit apartment buildings. The building has one owner: the corporation and the residents are tenants. The way they get the right to live there is via the purchase of shares in the building. They do not own the walls or any specific part of the building. The co-op management is taken care of by all members (shareholders), as a community. The building is, therefore, a communal property that may be unevenly divided based on the number of shares each \"owner\" has purchased.</span></p>\n<h2 id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a condo work?</span></h2>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo\'s are owned by the condo owner. The condo owner usually owns their unit from the walls inward. Condo owners are property owners of their units. The condo building is made up of all the individual units, plus the common areas or shared areas. A master insurance policy is usually responsible for insuring the condo structure as a whole, including the shared areas, and then each individual condo unit owner is responsible for protecting their personal liability, their specific unit features (additions, alterations, or upgrades) as well as their personal property.</span></p>\n<h2 id=\"mntl-sc-block_2-0-32\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Why is condo or co-op insurance different from home insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-21\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As you can see by the definitions above, the owner of the building is different in all of these situations.</span></p>\n<h2 id=\"mntl-sc-block_2-0-34\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In one circumstance you have the condo, where the owners own the unit they have purchased. This means that they potentially own the walls, ceilings, and floors of their dwelling, but not the building itself. So in a condo, the owner has to insure the unit and its contents.</span></p>\n<h2 id=\"mntl-sc-block_2-0-36\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Home Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In a home, you have one owner for the building and contents, and responsibility for anything that happens as a result of your actions or ownership of your property. It is pretty straightforward.</span></p>\n<h2 id=\"mntl-sc-block_2-0-38\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Co-op Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Whereas owners of a co-op do not own their unit at all, they are only owners of a percentage of the building, which means that the insurance they need for their personal property is really very much like a tenant policy. And a separate policy will cover the building managed by the corporation. The tenant insurance would be in the co-op owner\'s name, and the building will be in the corporation\'s name.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\"></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">3. <span class=\"mntl-sc-block-heading__text\">Condo Insurance : Unit Assessment Coverage and Shared Areas</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Understanding Shared Areas and Unit or Loss Assessment in Condos </span></h2>\n<p id=\"mntl-sc-block_1-0-26\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the more difficult things to understand with condo and coops is how claims play out in the shared areas of the building. Here is what you need to know to help you understand why these coverages are important.</span></p>\n<h2 id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What is a Shared Area in a Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Shared Areas represent areas that are not within the unit dwelling you occupy, but are on the property. </span></p>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Examples of shared areas include hallways, elevators, gardens, rec rooms, gyms, pool areas, etc. </span></p>\n<h2 id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Owner Liability for Shared Areas</span></h2>\n<p id=\"mntl-sc-block_1-0-29\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Special assessments may make you liable for:</span></p>\n<ul id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">A portion of medical costs or damages to a guest being injured in the shared areas of the property.</span></li>\n<li><span style=\"color: #0c0c0c;\">Claims arising from injuries in shared areas of the building.</span></li>\n</ul>\n<h2 id=\"mntl-sc-block_2-0-50\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Why is Loss Assessment Coverage Important?</span></h2>\n<p id=\"mntl-sc-block_1-0-31\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Loss assessment helps protect you from the unexpected expenses that you may have to pay as a result of damages and issues related to the building your condo is in. </span></p>\n<h2 id=\"mntl-sc-block_2-0-52\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Master Policy Coverage and Unit Assessments After a Claim</span></h2>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When the Master Policy or HOA policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to cover.</span></p>\n<h2 id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Master Policy of a Condo Association or HOA May Have a High Deductible</span></h2>\n<p id=\"mntl-sc-block_1-0-33\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Since the condo master policy is a commercial building insurance the deductible is usually quite high, sometimes ranging over $10,000. When the deductible becomes payable in a claim, the amount may be divided among all the owners through an assessment.</span></p>\n<h2 id=\"mntl-sc-block_2-0-56\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Loss Assessment Insurance Limits</span></h2>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Policies have specific limits for loss assessment coverage on your individual condo policy. Make sure to find out what your limit is, and also find out if there is a limit for assessments due to your deductible.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">4. <span class=\"mntl-sc-block-heading__text\">What Kind Of Damage Does the HOA Insurance Cover vs Condo Insurance</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What does the association master policy insurance cover?</span></h2>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Usually the following basic coverages are included in a master policy, however, the conditions of coverage vary. For example is the building insured to full value? You will have many questions to ask beyond these basic coverages:</span></p>\n<ul id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Damage to the building</span></li>\n<li><span style=\"color: #0c0c0c;\">Damage to the shared areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Injury in shared areas</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo association insurance does not cover additions or alterations, appliances, fixtures or improvements which are in your unit, also referred to as the \"residence premises\". You need to get your own policy to cover anything else, including your belongings and personal liability.</span></p>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Understanding the Different Kinds of Master Policies</span></h2>\n<p id=\"mntl-sc-block_1-0-39\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">There are two different kinds of policies that might insure the building: \"All In\" or \"Bare Walls\" continue on the next section to learn what these cover and how this affects you and your choice of insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">5. <span class=\"mntl-sc-block-heading__text\">Understanding All In vs Bare Walls HOA Master Policy Coverage</span></span></p>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In order to insure yourself properly and protect yourself, you need to understand which parts of the structure of your apartment or condo are insured by the master association\'s policy. Does the association\'s policy insure the walls only, or will it include the fixtures that were originally part of the building when it was built? </span></p>\n<h2 id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Two Types of Insurance Coverage your Association May Have  </span></h2>\n<ol id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">\"All In\"</span></li>\n<li><span style=\"color: #0c0c0c;\">\"Bare Walls\"</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"All In\" Condo Insurance Usually Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">The original structure, walls, floor, ceilings and fixtures as it was delivered when the building was originally built.</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As the condo owner, you would then only need to insure additions and alterations made since the original structure was built, such as new flooring, upgrades in cabinetry, or bathroom or plumbing fixtures. Some policies may cover the additions and alterations of previous owners, but you need to ask so you can be aware. Sometimes you find an amazing condo or coop apartment and its been fully renovated, and you may assume that\'s covered by the master policy, but it may not be.</span></p>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"Bare Walls\" Condo Insurance Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Bare walls</span></li>\n<li><span style=\"color: #0c0c0c;\">Floor</span></li>\n<li><span style=\"color: #0c0c0c;\">Ceiling</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-46\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Bare walls will not cover any fixtures, like in bathrooms or anything else. You would need to insure all this on your personal condo policy,.</span></p>\n<h2 id=\"mntl-sc-block_2-0-77\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Choosing Your Personal Condo or Co-op Insurance Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-47\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Read your condo or association by-laws or for coops the proprietary lease. Then ask questions about the master policy to find out how much insurance you need for additions or alterations to your condo policy.</span></p>\n<p id=\"mntl-sc-block_1-0-48\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You may need to insure more than is provided on a standard condo policy by getting an endorsement, or by switching to a high-end insurer like ACE (formerly Chubb), who will offer you higher limits in the policy.</span></p>\n<p id=\"mntl-sc-block_1-0-49\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Once you know what is covered by the HOA or association, speak to your insurance broker or agent to make sure you choose the right insurance coverage for your needs. You have options.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">6. <span class=\"mntl-sc-block-heading__text\">Beware of These Major Risks Not Covered In Most Condo Policies</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Water Damage May Not Be Covered by Your Master Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-51\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the major insurance risks for condo owners is water damage claims. When you purchase your personal condo insurance policy make sure and get as much coverage as possible to protect you from any kind of water damage. The problem with condos is that you are at the mercy of your neighbors when it comes to this coverage: if their washing machine breaks down, their sink overflows, or pipe breaks, you have absolutely no control over how people are maintaining their units. Even in the best circumstances, water damage happens and when it does the risks can be huge.</span></p>\n<p id=\"mntl-sc-block_1-0-52\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Do not rely on the building HOA insurance policy for water damage. Make sure you also have your own coverage in place to cover damage to your personal property, additions, and alterations (otherwise known as betterments, or improvements)</span></p>\n<h2 id=\"mntl-sc-block_2-0-86\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Just because you have loss assessment coverage doesn\'t mean all special assessments are covered!</span></h2>\n<p id=\"mntl-sc-block_1-0-53\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Say, for example, earthquake damages the building but the building did not have earthquake insurance. Or the earthquake insurance deductible was so high that the damage falls below the amount required to claim. The building may then impose a special assessment on the owners of the units to share in repairs and the cost of damage.</span></p>\n<p id=\"mntl-sc-block_1-0-54\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You have loss assessment in your condo policy so you assume it\'s going to be covered, right? Wrong.</span></p>\n<p id=\"mntl-sc-block_1-0-55\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">If your personal condo policy did not include the riders like earthquake insurance, then you would not be covered under the loss assessment portion of your policy, because the loss assessment is only for covered losses.</span></p>\n<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.thebalance.com/condominium-and-coop-essential-insurance-guide-4068492\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Understanding Condo Insurance and Co-op Insurance','','publish','closed','closed','','understanding-condo-insurance-and-co-op-insurance','','','2021-04-13 20:24:43','2021-04-13 20:24:43','',0,'http://smartinsurance.tips/?page_id=1455',0,'page','',0);
INSERT INTO `smart_posts` VALUES (1454,1,'2021-04-13 20:11:16','2021-04-13 20:11:16','[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=\"buying-hero__title crux-page-title crux-black\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>Refrigerator Buying Guide</strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Refrigerator.jpg\" width=\"288\" height=\"441\" alt=\"\" class=\"wp-image-1453 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<div class=\"col-xs-12 col-lg-10 bg-component__container\">\n<div class=\"parbase intro introtext text\">\n<div class=\"text-container crux-intro-large\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">When it comes to refrigerators, options nowadays go far beyond simply getting a glass of ice water without having to open the door. With custom panels, you can get a built-in that exactly matches your kitchen cabinets. And forget four doors—some newer models have five. You can even pull out a refrigerated drawer and find it full of cold sodas. Our fridge-by-fridge guide helps you choose the right type for your family, demystifies claimed vs. usable storage space, and helps you to find the quietest models—so you, and your groceries, can chill out.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-lg-10 bg-component__container\">\n<div class=\"bgsections parsys\">\n<div class=\"advertEditable parbase section\" style=\"text-align: left;\">\n<div class=\"container-fluid hidden-print\">\n<div class=\"row no-gutters\">\n<div class=\"col-xs-12\"></div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">Latest Trends</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Refrigerators might not seem as high-tech as smartphones and computers, but manufacturers keep trying to innovate on them, even if some of those innovations might feel gimmicky.</span></p>\n<p><span style=\"color: #0a0a0a;\">Samsung has added large touch screens and cameras to many of its French-door and side-by-side models, complete with apps for recipes, watching TV, playing music, and controlling smart home devices. LG has models with windows for seeing what’s inside without opening the door, as well as a Craft Ice feature that makes large ice balls for cocktails and spirits. GE even makes French-doors with a built-in Keurig coffee maker. And many manufacturers are creating door-in-door refrigerators with a small outer door over the fresh-food cavity’s door that opens for easy access to items on the door shelves.</span></p>\n<p><span style=\"color: #0a0a0a;\">What isn’t a gimmick, though, is consumer preference for refrigerator configuration. According to CR’s most recent refrigerator survey, French-doors made up 64 percent of new refrigerators purchased by CR members in 2019 and the first half of 2020, followed by side-by-sides at 20 percent, bottom-freezers at 6 percent, and top-freezers and built-ins at 5 percent each. Retailers are following this trend, too. According to market research firm Gap Intelligence, French-doors make up 61 percent of in-store selection.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\"></div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">How We Rate Refrigerators</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">In our labs, each refrigerator we test gets wired up with temperature sensors. We then monitor it for more than a month in a temperature-controlled chamber to evaluate thermostat control and temperature uniformity.</span></p>\n<p><span style=\"color: #0a0a0a;\">CR’s test engineers collect more than 5.4 million temperature readings for each model to detect warm and cold spots and determine which refrigerators will keep your food fresh longest. The results reveal that many refrigerators simply don’t do well at their primary task, and that could mean more wasted food and bigger grocery bills.</span></p>\n<p><span style=\"color: #0a0a0a;\">To test the freezer compartments of refrigerators, our engineers fill the appliances with boxes and boxes of frozen spinach, then evaluate how well they keep the packages frozen.</span></p>\n<p><span style=\"color: #0a0a0a;\">In addition, we measure usable storage capacity, which rarely matches what manufacturers claim. Our engineers then use these measurements to calculate energy efficiency. Finally, we incorporate survey data collected from CR members on thousands of refrigerators to judge predicted reliability and owner satisfaction for each brand and refrigerator type.</span></p>\n<p><span style=\"color: #0a0a0a;\">All this data is consolidated into one Overall Score for each model and shown in our refrigerator ratings charts, which at any given time feature more than 300 models. </span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\"></div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"parbase producttypes section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-producttypes\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">Pick a Style</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">There’s a refrigerator configuration to suit every household. French-door models are extremely popular because of their high-end aesthetic. Some consumers prefer the convenience of bottom freezers, which put fresh foods at eye level, but side-by-sides can fit better in a smaller kitchen because of their narrow doors. Here’s what you need to know to make the best choice. See our full refrigerator ratings for how models in the different sizes and styles below performed in our tests.</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"section-responsive-columns-par parsys\">\n<div class=\"sectionitem responsivecolumn section\">\n<div class=\"responsivecolumn-wrapper columns-size-3\">\n<div class=\"container-fluid\">\n<div class=\"row\">\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-1\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" alt=\"A top-freezer refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Top-Freezer Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">These traditional refrigerators are good for a lot of storage in a fairly tight spot. They tend to offer the most space for their size. (Widths vary between 28 and 33 inches.) Manufacturers claim up to 23-cubic-foot capacities, but our tests found that average usable capacity is 17 percent less. Allow for a wide swing of the doors, and get used to crouching down to reach lower shelves and drawers.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Top-Freezer Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-2\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" alt=\"A bottom-freezer refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Bottom-Freezer Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Widths range from 24 to 36 inches, and claimed capacities approach 30 cubic feet, though average usable space is less than that of comparable top-freezers. (Top-freezers cost less, too.) Instead of the freezer, which many people use less, being at eye level, your refrigerator shelves are easily scannable. Just get used to bending to rifle through frozen goods.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Bottom-Freezer Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-3\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" alt=\"A French-door refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">French-Door Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">These have two narrow doors on top and a freezer below. Sometimes there is one drawer (or more) in between. Widths range from 28 to 36 inches. Claimed capacities go up to 34 cubic feet, though the average usable space is much less, at 17 cubic feet. The space-saving small-swing doors have the added value of opening only half the fridge when you’re stashing smaller items.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">French-Door Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"sectionitem responsivecolumn section\">\n<div class=\"responsivecolumn-wrapper columns-size-2\">\n<div class=\"container-fluid\">\n<div class=\"row\">\n<div class=\"col-xs-12 col-sm-6\">\n<div class=\"parsys column-1\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" alt=\"A side-by-side refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Side-by-Side Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">With the fridge on one side and freezer on the other, these usually have through-the-door ice and water dispensers. With widths typically 33 to 36 inches, they’re claimed to have up to about 28 cubic feet capacity (but only about 70 percent is usable). Narrow doors are a plus for small kitchens, but they don’t open wide enough for, say, a pizza box, and tall, narrow compartments make items stuck at the back hard to find. Overall, they’re not as energy- or space-efficient as other types.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Side-By-Side Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-6\">\n<div class=\"parsys column-2\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" alt=\"A built-in refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Built-In Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Pricey and made to fit almost flush with cabinets and counters, these sleek beauties come in bottom-freezer, side-by-side, and French-door styles. They are usually tall (above 70 inches) and wide (30 to 48 inches), with capacities up to 27 cubic feet (of which only about 70 percent is usable). Look for optional front panels to match your kitchen cabinets. Or get the look for a little less with a freestanding counter-depth version. Another built-in option: a column fridge, as narrow as 18 inches, to make the most of a kitchen nook.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Consider Size</span></h3>\n<div class=\"text-container crux-article\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Most refrigerator configurations come in a range of sizes and capacities. Always measure where you plan to put the refrigerator before you shop. And make sure it can fit through doorways. Allow room for the refrigerator’s doors to swing open and for a 1-inch clearance around the sides and back for adequate airflow.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To help you find the right size refrigerator for your kitchen, our refrigerator ratings are now organized by width, allowing you to easily see the highest-rated models for the size you need. You’ll find models ranging from the standard 36 inches wide down to 24 inches. We also note the height and depth of each tested model.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To help you find the best refrigerators outside the standard dimensions, we have guides to the best counter-depth refrigerators, 30-inch-wide refrigerators, and 33-inch-wide refrigerators.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">As for capacity, most manufacturers recommend 19 to 22 cubic feet for a family of four. But if you do a big weekly shopping trip or buy in bulk, you may need more—up to 30 to 33 cubic feet. Note: Our tests found that the amount of usable storage was often less than the amount claimed. Check our refrigerator ratings for the actual capacity of each model. And to see the biggest (and best) fridges from our ratings, see this guide to the best refrigerators for big families.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 22px;\">Decode the Energy Guide Label</span></p>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Energy efficiency has become a big selling point with consumers. All new refrigerators are a lot more efficient than they were a decade ago, but here’s a look behind the label—to help you go as green as possible.</span></p>\n<p><span style=\"color: #0a0a0a;\">The Environmental Protection Agency’s Energy Star rating is a good place to start when shopping; it means that a product is in or around the top 25 percent of the market, but efficiency varies by model (i.e., an unlabeled top-freezer might be more efficient than an Energy Star certified French-door model). Additionally, we test for energy consumption, which can add up to a $50 to $60 difference per year, or more than $500 over the life of the unit.</span></p>\n<p><span style=\"color: #0a0a0a;\">For an apples-to-apples comparison of which models are most efficient, look at the EnergyGuide labels of the refrigerators you’re considering, and compare the annual operating costs and the kilowatt-hours used per year.</span></p>\n<p><span style=\"color: #0a0a0a;\">We give all the refrigerators we test a score for energy efficiency and list their estimated annual energy cost. You can check our refrigerator ratings for details.</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\">\n<div class=\"image-content\">\n<div class=\"image-wrapper image-bp-750\"><span style=\"color: #0a0a0a;\"><picture><source srcset=\"\" media=\"(max-width: 480px)\" /><img class=\"image cld-responsive loaded\" data-srcset=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" alt=\"The EnergyGuide label.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" srcset=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></picture><span style=\"font-size: 14px;\"></span></span></div>\n</div>\n</div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"parbase photogallery section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-photogallery\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a; font-size: 22px;\">Five Features You\'ll Want</span></h3>\n<div class=\"text-container crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Refrigerators at all prices are increasingly tricked out with options to make your life easier and more organized. French-door models are usually the most loaded. Just know that if you can’t live without adjustable shelving or an in-door coffee maker, you’ll have to pay top dollar. The features below are the ones we think will add the most convenience to your refrigerator. </span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Through-the-Door Ice and Water Dispenser</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"photogallery section-pg\">\n<div class=\"photogallery-wrapper\">\n<div class=\"displayCaption\">\n<div class=\"caption-box\">\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">This is one of the features most requested by buyers. Caveat: We found that models with this convenience also require the most repairs. Energy costs are higher, too, and you trade ice water for storage space.</span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Door-in-Door Storage Access</span></p>\n</div>\n<div class=\"credit crux-label-style crux-label-style--small\">\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Without opening the entire door, you can grab frequently used beverages and condiments. That will save on energy costs in the long run.</span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Freshness Features</span></p>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Dual evaporators help maintain higher humidity levels in the refrigerated areas and prevent freezer odors from migrating there. Air purifiers eliminate bacteria and mold spores, while vacuum-sealed crisper drawers are meant to keep food fresher longer.</span></p>\n<h4 class=\"crux-body-copy crux-body-copy--small--bold\"><span style=\"color: #0a0a0a;\">Temperature Controls</span></h4>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">You decide how cold your fridge is in certain areas. For example, set a drawer to be cooler than the rest of the fridge to better store meat, fish, and cold cuts.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h4 class=\"crux-body-copy crux-body-copy--small--bold\"><span style=\"color: #0a0a0a;\">Better Shelves and Drawers</span></h4>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">You can rearrange split shelves to different heights independently, and adjust doors to fit taller items. However, if your door has deep storage bins meant for eggs, milk, or butter, be aware that these items are better off on internal shelves, where cooler temperatures keep them fresher longer. Elevator shelves crank up and down without needing to be unloaded. Shelf snuggers attach to racks to secure bottles and jars. Pullout shelves or bins make access to stored items easier.</span></p>\n</div>\n</div>\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Shopping Tips</span></h3>\n<div class=\"text-container crux-article\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Once you’ve settled on a fridge style, the required dimensions, and the features you want, it’s time to start shopping. Many consumers start their search online, then head to the store to check out the models they’re most interested in.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you don’t need a new fridge right away, it can also help to wait for the next major sale holiday, which at this time of year is Memorial Day weekend. We find that refrigerator prices tend to dip in the summer and hit their lowest point around Black Friday, so other sale holidays, such as Labor Day, are your next best bet to snag a deal.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Of course, the coronavirus pandemic is affecting the appliance market. There is an appliance shortage, which means many models are out of stock or back-ordered for anywhere from a few weeks to a few months. Because inventory is low, retailers also don’t need to discount refrigerators as heavily as they normally would. (For more on the appliance shortage, see our guide to getting a deal during the shortage.)</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Despite the shortage, we still recommend that you comparison shop. Don’t forget to check local, independent retailers, and don’t be afraid to haggle or ask for a discount. If you aren’t sure where to start, see our guide to the best appliance stores.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Another option if you’re on a budget, or simply looking for a good deal, is to consider buying a used refrigerator. You can get a higher-end model for a lot less than the retail price. The best places to look for used fridges are used appliance stores and, believe it or not, appliance repair shops. Both types of stores will usually give you a warranty, too. For more on purchasing used appliances, see our used-appliances guide.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<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://smallbiztrends.com/2020/09/10-tiny-pivots-to-make-your-small-business-more-effective.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Refrigerator Buying Guide','','inherit','closed','closed','','1450-revision-v1','','','2021-04-13 20:11:16','2021-04-13 20:11:16','',1450,'http://smartinsurance.tips/1450-revision-v1/',0,'revision','',0),(1459,1,'2021-04-13 20:23:30','2021-04-13 20:23:30','[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;\"><span style=\"color: #0c0c0c;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Understanding Condo Insurance and Co-op Insurance</span></strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Condo-insurance.jpg\" width=\"496\" height=\"342\" alt=\"\" class=\"wp-image-1458 aligncenter size-full\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<h2 class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\">1. </span><span class=\"mntl-sc-block-heading__text\">The Essential Information You Need to Buy the Best Condo Insurance</span></span></strong></span></h2>\n<p style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-2\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you own a condominium (condo) or cooperative apartment (co-op) or are thinking of buying one?</span></h2>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Insurance for co-ops and condos is a lot more complicated than homeowner insurance. A lot of people invest in condos without understanding the full implication of their responsibility or may run into a series of frustrations and surprises because they didn\'t understand how their condo insurance works. Co-ops also have their own issues, very much like condos.</span></p>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You can avoid problems and save money by understanding exactly how your condo or co-op insurance works, how it relates to your association policy, and what your responsibilities will be if you have a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you really need condo insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Every condo owner or co-op owner should have their own insurance. One of the problems that owners face when purchasing condos or coops is confusion about the insurance. Unlike homeowners, they do not always need to provide a binder of insurance to the mortgage company, because the basic building itself is insured on the condo or homeowner association policy. This sometimes leads condo owners to think that everything is covered, so they forget about purchasing the individual policy. </span></p>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">This step-by-step will take you through the insurance basics of owning a property like a condo and a co-op as well as tips to help you figure out the coverage you need so you don\'t have any surprises or extra expenses in a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The two insurance policies you need for a condo or co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-5\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you own a condo or co-op you will have two insurance policies that cover your investment in your unit and personal belongings. </span></p>\n<ol id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your own insurance policy</span></li>\n<li><span style=\"color: #0c0c0c;\">The master policy, which is managed by the condo association, homeowners association, or co-op board</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Your own condo insurance covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your Personal Liability </span></li>\n<li><span style=\"color: #0c0c0c;\">Your Personal Property</span></li>\n<li><span style=\"color: #0c0c0c;\">Your Improvements, Betterments, Additions, or Alterations</span></li>\n<li><span style=\"color: #0c0c0c;\">Loss Assessment </span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In addition to the basic coverages, condo, and all residential insurance policies contain numerous clauses which limit coverages on certain items of high value. Depending on how relevant each of these coverages is to you personally, you may also want to learn more about a rider for jewelry, fine arts or other limited items, as well as umbrella liability.</span></p>\n<p id=\"mntl-sc-block_1-0-9\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Your insurance representative will be able to review your coverage options and recommend suitable insurance endorsements if you would like to adjust or improve your coverage. </span></p>\n<h2 id=\"mntl-sc-block_2-0-15\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Claims Problems Specific to Condo Owners</span></h2>\n<p id=\"mntl-sc-block_1-0-10\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you have a claim that involves the building and your unit, you are not just dealing with one insurance company or policy. A condo or co-op owner will have to rely on both the building master policy and their own policy to settle the claim. Sometimes if a third party like another unit owner is also involved and you feel they were negligent or responsible for the damage, then the insurance of the other unit owner may also come into play. All insurers will have to figure out what each party\'s actual loss is and who is responsible for paying before settling the claim. This is often a several step claims process.</span></p>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">A common type of claim in condos and coops where several of the insurance policies are required to pay out is water damage claims.</span></p>\n<p id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Depending on the type of coverage the master HOA policy has, you may also run into gaps in coverage. Don\'t get stuck in a difficult or unexpected claim situation.</span></p>\n<h2 id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What you need to know about condo insurance</span></h2>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">We are going to cover everything you need to know about the insurance implications for your condo insurance so that if a claim happens you know exactly what you\'re in for, and how to get the best claim settlement. Including:</span></p>\n<ul id=\"mntl-sc-block_1-0-14\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Condo Insurance: Unit Assessment Coverage and Shared Areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Questions You Need to Ask Your Condo Association about the HOA Insurance</span></li>\n<li><span style=\"color: #0c0c0c;\">Understanding All In vs Bare Walls In HOA Master Policy Coverage</span></li>\n<li><span style=\"color: #0c0c0c;\">Major Risks and Perils Not Automatically Covered In Most Condo and Co-op Policies</span></li>\n<li><span style=\"color: #0c0c0c;\">Warning: Not Reading Your HOA or Condo Association Insurance Policy Could Cost You Hundreds Of Thousands of Dollars</span></li>\n</ul>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\"></span></p>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">First, let\'s start with the difference between condo and co-op, and homeowner insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">2. <span class=\"mntl-sc-block-heading__text\">Difference Between Condo Insurance and Home Insurance and Co-ops</span></span></strong></span></p>\n<p id=\"mntl-sc-block_1-0-17\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Although co-ops and condos may seem quite similar as living spaces, they are actually very different legally and financially. Because of the legal differences between condos and co-ops, the way they are insured varies. </span></p>\n<h2 id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Getting the Best Insurance for Your Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">To understand condo insurance and co-op insurance we need to look at the difference between condos and coops and how the needs for these types of homeowners vary from standard single-family homeowners needs</span></p>\n<h2 id=\"mntl-sc-block_2-0-28\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a co-op work?</span></h2>\n<p id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Co-op\'s (sometimes referred to as coops) are owned by a corporation, which means that as an owner of the unit, you don\'t actually own the building or the property, what you do own is a share of the holdings of the corporation. Small co-ops may only have two or three owners, whereas large co-ops may have hundreds of shareholders. In the event of a loss, the share of ownership in the building will come into play. Think of co-ops as multi-unit apartment buildings. The building has one owner: the corporation and the residents are tenants. The way they get the right to live there is via the purchase of shares in the building. They do not own the walls or any specific part of the building. The co-op management is taken care of by all members (shareholders), as a community. The building is, therefore, a communal property that may be unevenly divided based on the number of shares each \"owner\" has purchased.</span></p>\n<h2 id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a condo work?</span></h2>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo\'s are owned by the condo owner. The condo owner usually owns their unit from the walls inward. Condo owners are property owners of their units. The condo building is made up of all the individual units, plus the common areas or shared areas. A master insurance policy is usually responsible for insuring the condo structure as a whole, including the shared areas, and then each individual condo unit owner is responsible for protecting their personal liability, their specific unit features (additions, alterations, or upgrades) as well as their personal property.</span></p>\n<h2 id=\"mntl-sc-block_2-0-32\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Why is condo or co-op insurance different from home insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-21\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As you can see by the definitions above, the owner of the building is different in all of these situations.</span></p>\n<h2 id=\"mntl-sc-block_2-0-34\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In one circumstance you have the condo, where the owners own the unit they have purchased. This means that they potentially own the walls, ceilings, and floors of their dwelling, but not the building itself. So in a condo, the owner has to insure the unit and its contents.</span></p>\n<h2 id=\"mntl-sc-block_2-0-36\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Home Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In a home, you have one owner for the building and contents, and responsibility for anything that happens as a result of your actions or ownership of your property. It is pretty straightforward.</span></p>\n<h2 id=\"mntl-sc-block_2-0-38\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Co-op Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Whereas owners of a co-op do not own their unit at all, they are only owners of a percentage of the building, which means that the insurance they need for their personal property is really very much like a tenant policy. And a separate policy will cover the building managed by the corporation. The tenant insurance would be in the co-op owner\'s name, and the building will be in the corporation\'s name.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">3. <span class=\"mntl-sc-block-heading__text\">Condo Insurance : Unit Assessment Coverage and Shared Areas</span></span></p>\n<h2 id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Understanding Shared Areas and Unit or Loss Assessment in Condos </span></h2>\n<p id=\"mntl-sc-block_1-0-26\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the more difficult things to understand with condo and coops is how claims play out in the shared areas of the building. Here is what you need to know to help you understand why these coverages are important.</span></p>\n<h2 id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What is a Shared Area in a Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Shared Areas represent areas that are not within the unit dwelling you occupy, but are on the property. </span></p>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Examples of shared areas include hallways, elevators, gardens, rec rooms, gyms, pool areas, etc. </span></p>\n<h2 id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Owner Liability for Shared Areas</span></h2>\n<p id=\"mntl-sc-block_1-0-29\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Special assessments may make you liable for:</span></p>\n<ul id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">A portion of medical costs or damages to a guest being injured in the shared areas of the property.</span></li>\n<li><span style=\"color: #0c0c0c;\">Claims arising from injuries in shared areas of the building.</span></li>\n</ul>\n<h2 id=\"mntl-sc-block_2-0-50\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Why is Loss Assessment Coverage Important?</span></h2>\n<p id=\"mntl-sc-block_1-0-31\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Loss assessment helps protect you from the unexpected expenses that you may have to pay as a result of damages and issues related to the building your condo is in. </span></p>\n<h2 id=\"mntl-sc-block_2-0-52\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Master Policy Coverage and Unit Assessments After a Claim</span></h2>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When the Master Policy or HOA policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to cover.</span></p>\n<h2 id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Master Policy of a Condo Association or HOA May Have a High Deductible</span></h2>\n<p id=\"mntl-sc-block_1-0-33\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Since the condo master policy is a commercial building insurance the deductible is usually quite high, sometimes ranging over $10,000. When the deductible becomes payable in a claim, the amount may be divided among all the owners through an assessment.</span></p>\n<h2 id=\"mntl-sc-block_2-0-56\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Loss Assessment Insurance Limits</span></h2>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Policies have specific limits for loss assessment coverage on your individual condo policy. Make sure to find out what your limit is, and also find out if there is a limit for assessments due to your deductible.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">4. <span class=\"mntl-sc-block-heading__text\">What Kind Of Damage Does the HOA Insurance Cover vs Condo Insurance</span></span></p>\n<h2 id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What does the association master policy insurance cover?</span></h2>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Usually the following basic coverages are included in a master policy, however, the conditions of coverage vary. For example is the building insured to full value? You will have many questions to ask beyond these basic coverages:</span></p>\n<ul id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Damage to the building</span></li>\n<li><span style=\"color: #0c0c0c;\">Damage to the shared areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Injury in shared areas</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo association insurance does not cover additions or alterations, appliances, fixtures or improvements which are in your unit, also referred to as the \"residence premises\". You need to get your own policy to cover anything else, including your belongings and personal liability.</span></p>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Understanding the Different Kinds of Master Policies</span></h2>\n<p id=\"mntl-sc-block_1-0-39\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">There are two different kinds of policies that might insure the building: \"All In\" or \"Bare Walls\" continue on the next section to learn what these cover and how this affects you and your choice of insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">5. <span class=\"mntl-sc-block-heading__text\">Understanding All In vs Bare Walls HOA Master Policy Coverage</span></span></p>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In order to insure yourself properly and protect yourself, you need to understand which parts of the structure of your apartment or condo are insured by the master association\'s policy. Does the association\'s policy insure the walls only, or will it include the fixtures that were originally part of the building when it was built? </span></p>\n<h2 id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Two Types of Insurance Coverage your Association May Have  </span></h2>\n<ol id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">\"All In\"</span></li>\n<li><span style=\"color: #0c0c0c;\">\"Bare Walls\"</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"All In\" Condo Insurance Usually Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">The original structure, walls, floor, ceilings and fixtures as it was delivered when the building was originally built.</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As the condo owner, you would then only need to insure additions and alterations made since the original structure was built, such as new flooring, upgrades in cabinetry, or bathroom or plumbing fixtures. Some policies may cover the additions and alterations of previous owners, but you need to ask so you can be aware. Sometimes you find an amazing condo or coop apartment and its been fully renovated, and you may assume that\'s covered by the master policy, but it may not be.</span></p>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"Bare Walls\" Condo Insurance Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Bare walls</span></li>\n<li><span style=\"color: #0c0c0c;\">Floor</span></li>\n<li><span style=\"color: #0c0c0c;\">Ceiling</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-46\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Bare walls will not cover any fixtures, like in bathrooms or anything else. You would need to insure all this on your personal condo policy,.</span></p>\n<h2 id=\"mntl-sc-block_2-0-77\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Choosing Your Personal Condo or Co-op Insurance Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-47\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Read your condo or association by-laws or for coops the proprietary lease. Then ask questions about the master policy to find out how much insurance you need for additions or alterations to your condo policy.</span></p>\n<p id=\"mntl-sc-block_1-0-48\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You may need to insure more than is provided on a standard condo policy by getting an endorsement, or by switching to a high-end insurer like ACE (formerly Chubb), who will offer you higher limits in the policy.</span></p>\n<p id=\"mntl-sc-block_1-0-49\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Once you know what is covered by the HOA or association, speak to your insurance broker or agent to make sure you choose the right insurance coverage for your needs. You have options.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">6. <span class=\"mntl-sc-block-heading__text\">Beware of These Major Risks Not Covered In Most Condo Policies</span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Water Damage May Not Be Covered by Your Master Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-51\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the major insurance risks for condo owners is water damage claims. When you purchase your personal condo insurance policy make sure and get as much coverage as possible to protect you from any kind of water damage. The problem with condos is that you are at the mercy of your neighbors when it comes to this coverage: if their washing machine breaks down, their sink overflows, or pipe breaks, you have absolutely no control over how people are maintaining their units. Even in the best circumstances, water damage happens and when it does the risks can be huge.</span></p>\n<p id=\"mntl-sc-block_1-0-52\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Do not rely on the building HOA insurance policy for water damage. Make sure you also have your own coverage in place to cover damage to your personal property, additions, and alterations (otherwise known as betterments, or improvements)</span></p>\n<h2 id=\"mntl-sc-block_2-0-86\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Just because you have loss assessment coverage doesn\'t mean all special assessments are covered!</span></h2>\n<p id=\"mntl-sc-block_1-0-53\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Say, for example, earthquake damages the building but the building did not have earthquake insurance. Or the earthquake insurance deductible was so high that the damage falls below the amount required to claim. The building may then impose a special assessment on the owners of the units to share in repairs and the cost of damage.</span></p>\n<p id=\"mntl-sc-block_1-0-54\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You have loss assessment in your condo policy so you assume it\'s going to be covered, right? Wrong.</span></p>\n<p id=\"mntl-sc-block_1-0-55\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">If your personal condo policy did not include the riders like earthquake insurance, then you would not be covered under the loss assessment portion of your policy, because the loss assessment is only for covered losses.</span></p>\n<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.thebalance.com/condominium-and-coop-essential-insurance-guide-4068492\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Understanding Condo Insurance and Co-op Insurance','','inherit','closed','closed','','1455-revision-v1','','','2021-04-13 20:23:30','2021-04-13 20:23:30','',1455,'http://smartinsurance.tips/1455-revision-v1/',0,'revision','',0),(1462,1,'2021-04-13 20:31:16','2021-04-13 20:31:16','[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=\"farticle-title\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>You Probably Need Umbrella Insurance</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Umbrella.jpg\" width=\"867\" height=\"488\" alt=\"\" class=\"wp-image-1465 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"> </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Liability insurance protects you and your family’s finances from major disasters, such as a lawsuit against you (even if the charges are groundless). For example, if you crash into someone else, liability car insurance pays for a legal defense and any judgments or settlements. Or if your dog bites someone, homeowners liability insurance covers medical expenses.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">But the safety net of liability insurance only stretches as far as the coverage amount you have. If you have significant assets that you could lose in a lawsuit, you need higher levels of liability insurance. Here’s more on <a href=\"https://www.forbes.com/advisor/homeowners-insurance/what-can-be-taken-in-lawsuit/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/homeowners-insurance/what-can-be-taken-in-lawsuit/\" style=\"color: #0a0a0a;\">what can be taken from you in a lawsuit</a>.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">That’s where umbrella insurance policies come in. An umbrella policy is designed to help prevent financial ruin from a catastrophic event that you’re financially responsible for.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">What is Umbrella Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance provides “excess liability insurance” (meaning additional coverage) beyond the liability insurance already in your auto, homeowners and/or watercraft insurance policies. It’s for expensive situations where medical bills or repairs exceed your “base” auto, home or boat policies. For example:</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You cause a serious auto or boating accident. </strong>Auto accident bills can amount quickly, especially if you’re responsible for the medical bills of multiple people. Your auto or watercraft insurance policy would pay first, up to its maximum, followed by umbrella insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>Your dog bites someone. </strong>Dog bites are typically covered by a homeowners insurance policy. But if you’re sued for an amount above your <a class=\"wpil_keyword_link\" href=\"https://www.forbes.com/advisor/homeowners-insurance/best-homeowners-insurance-companies/\" title=\"home insurance\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/homeowners-insurance/best-homeowners-insurance-companies/\" style=\"color: #0a0a0a;\">home insurance</a> liability limits (such as medical bills and pain and suffering), your umbrella policy would start paying.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You drive your car into a building. I</strong>t happens–someone is parked close to a convenience store and they put the car in drive rather than reverse, causing extensive building damage. An <a data-wpil=\"url\" href=\"https://www.forbes.com/advisor/car-insurance/best-car-insurance-companies/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/car-insurance/best-car-insurance-companies/\" style=\"color: #0a0a0a;\">auto insurance</a> policy would pay for the property damage first, followed by an umbrella policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You accidentally injure someone. </strong>If you or a family member accidentally injures someone, umbrella insurance will pay when auto or home insurance is exhausted. For example, say your son accidentally throws a baseball into someone’s face, causing extensive injury. Your homeowners liability insurance will pay first, followed by umbrella insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You’re on a board of directors of a charity and are sued for a board-related issue.</strong> An umbrella policy may provide coverage for lawsuits against you related to your work on a board of directors. The coverage may depend on whether the board is a non-profit and whether you’re paid for your service. It’s best to consult your insurance agent to understand whether you’ll be covered.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">According to the Insurance Information Institute, a $1 million umbrella policy will cost about $150 to $300 per year. Generally, the next million will cost roughly $75 and $50 for every million after that.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How Does Umbrella Insurance Work?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance kicks in when your “base” liability limits have been reached. Here’s an example: You cause a car accident that results in severe injuries for multiple people. The medical bills are $400,000, which exceeds your $300,000 in <a href=\"https://www.forbes.com/advisor/car-insurance/liability-insurance/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/car-insurance/liability-insurance/\" style=\"color: #0a0a0a;\">liability auto insurance</a> policy limits. Your umbrella insurance can cover the remaining $100,000.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To add to this example, let’s say one of the injured parties is a highly paid professional who cannot perform their job for six months because of the injuries. Because your car insurance liability limits are exhausted, without umbrella insurance your assets such as your house and savings could be at risk with the extra layer of insurance from an umbrella policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 26px;\"></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 26px;\">Umbrella Coverage Beyond the Base Policy</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span><span style=\"color: #0a0a0a; font-size: 14px;\">Another advantage of umbrella insurance is that it usually provides coverage that’s not found in the base auto or homeowners policy at all. For example:</span><span style=\"color: #0a0a0a;\"></span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Libel, defamation or slander. For example, if you post something defamatory about someone else to a website, you could be used.</span></li>\n<li><span style=\"color: #0a0a0a;\">False arrest, imprisonment or detention</span></li>\n<li><span style=\"color: #0a0a0a;\">Malicious prosecution</span></li>\n<li><span style=\"color: #0a0a0a;\">Wrongful eviction or entry</span></li>\n<li><span style=\"color: #0a0a0a;\">Invasion of privacy</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">What Umbrella Insurance Won’t Cover</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance doesn’t cover your own injuries or damage to your own property. For example, your health insurance would typically cover medical expenses for injuries and your homeowners insurance would cover your property from problems like fire or theft. Here are other losses typically not covered by umbrella insurance:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Damage to your personal belongings</span></li>\n<li><span style=\"color: #0a0a0a;\">Business losses</span></li>\n<li><span style=\"color: #0a0a0a;\">Intentional criminal acts</span></li>\n<li><span style=\"color: #0a0a0a;\">Written or oral contracts</span></li>\n</ul>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">While umbrella insurance provides an important safeguard against lawsuit judgments and settlements, examples of situations it generally won’t cover include:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Intentional acts or injury</span></li>\n<li><span style=\"color: #0a0a0a;\">Damages due to nuclear radiation, war or terrorism</span></li>\n<li><span style=\"color: #0a0a0a;\">Communicable disease, such as a lawsuit against you for giving someone herpes.</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How to Buy Umbrella Insurance</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance is commonly available from insurers that sell auto, home and watercraft insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">You’ll need a certain amount of liability insurance in the base policy before you can add umbrella insurance. For example, you might need to have:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Home insurance: $300,000 in liability</span></li>\n<li><span style=\"color: #0a0a0a;\">Auto insurance: $100,000 per person/$300,000 per occurrence for bodily injury and $100,000 for property damage, or more</span></li>\n<li><span style=\"color: #0a0a0a;\">Watercraft insurance: $300,000 in liability</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Do You Need Umbrella Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Wealthy households in particular need umbrella insurance. A wealthy individual or family can be a lawsuit target.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">In addition, these circumstances could increase your chances of being sued:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">You serve on a charitable board.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have a swimming pool, pond or trampoline.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have dogs, horses or other large animals.</span></li>\n<li><span style=\"color: #0a0a0a;\">You manage a family trust.</span></li>\n<li><span style=\"color: #0a0a0a;\">You host large parties in your home.</span></li>\n<li><span style=\"color: #0a0a0a;\">You employ household staff.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have a high public profile.</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How Much Umbrella Coverage Do I Need?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">When selecting the right amount of coverage there are a couple things to consider.</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Value of your assets: An umbrella policy should cover at least the value of your assets — this is what you stand to lose in a lawsuit.</span></li>\n<li><span style=\"color: #0a0a0a;\">Potential future income loss: Your current assets and future income could be at risk in a lawsuit. Even if you have a limited income now, consider your potential future income. For instance, if you’re a medical student, you should consider your future earning potential.</span></li>\n</ul>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">A long legal proceeding is stressful and can potentially ruin a reputation, whether or not the lawsuit was baseless. Purchasing an umbrella policy won’t help the stress, but it can save everything you’ve worked so hard to amass.</span></p>\n<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.forbes.com/advisor/car-insurance/umbrella-insurance/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','You Probably Need Umbrella Insurance','','publish','closed','closed','','you-probably-need-umbrella-insurance','','','2021-04-16 19:56:40','2021-04-16 19:56:40','',0,'http://smartinsurance.tips/?page_id=1462',0,'page','',0),(1461,1,'2021-04-13 20:24:43','2021-04-13 20:24:43','[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;\"><span style=\"color: #0c0c0c;\"><strong><span id=\"article-heading__highlight_2-0\" class=\"comp article-heading__highlight mntl-text-block\">Understanding Condo Insurance and Co-op Insurance</span></strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Condo-insurance.jpg\" width=\"496\" height=\"342\" alt=\"\" class=\"wp-image-1458 aligncenter size-full\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<h2 class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\">1. </span><span class=\"mntl-sc-block-heading__text\">The Essential Information You Need to Buy the Best Condo Insurance</span></span></strong></span></h2>\n<p style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-2\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you own a condominium (condo) or cooperative apartment (co-op) or are thinking of buying one?</span></h2>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Insurance for co-ops and condos is a lot more complicated than homeowner insurance. A lot of people invest in condos without understanding the full implication of their responsibility or may run into a series of frustrations and surprises because they didn\'t understand how their condo insurance works. Co-ops also have their own issues, very much like condos.</span></p>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You can avoid problems and save money by understanding exactly how your condo or co-op insurance works, how it relates to your association policy, and what your responsibilities will be if you have a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Do you really need condo insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Every condo owner or co-op owner should have their own insurance. One of the problems that owners face when purchasing condos or coops is confusion about the insurance. Unlike homeowners, they do not always need to provide a binder of insurance to the mortgage company, because the basic building itself is insured on the condo or homeowner association policy. This sometimes leads condo owners to think that everything is covered, so they forget about purchasing the individual policy. </span></p>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">This step-by-step will take you through the insurance basics of owning a property like a condo and a co-op as well as tips to help you figure out the coverage you need so you don\'t have any surprises or extra expenses in a claim.</span></p>\n<h2 id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The two insurance policies you need for a condo or co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-5\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you own a condo or co-op you will have two insurance policies that cover your investment in your unit and personal belongings. </span></p>\n<ol id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your own insurance policy</span></li>\n<li><span style=\"color: #0c0c0c;\">The master policy, which is managed by the condo association, homeowners association, or co-op board</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Your own condo insurance covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Your Personal Liability </span></li>\n<li><span style=\"color: #0c0c0c;\">Your Personal Property</span></li>\n<li><span style=\"color: #0c0c0c;\">Your Improvements, Betterments, Additions, or Alterations</span></li>\n<li><span style=\"color: #0c0c0c;\">Loss Assessment </span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In addition to the basic coverages, condo, and all residential insurance policies contain numerous clauses which limit coverages on certain items of high value. Depending on how relevant each of these coverages is to you personally, you may also want to learn more about a rider for jewelry, fine arts or other limited items, as well as umbrella liability.</span></p>\n<p id=\"mntl-sc-block_1-0-9\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Your insurance representative will be able to review your coverage options and recommend suitable insurance endorsements if you would like to adjust or improve your coverage. </span></p>\n<h2 id=\"mntl-sc-block_2-0-15\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Claims Problems Specific to Condo Owners</span></h2>\n<p id=\"mntl-sc-block_1-0-10\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When you have a claim that involves the building and your unit, you are not just dealing with one insurance company or policy. A condo or co-op owner will have to rely on both the building master policy and their own policy to settle the claim. Sometimes if a third party like another unit owner is also involved and you feel they were negligent or responsible for the damage, then the insurance of the other unit owner may also come into play. All insurers will have to figure out what each party\'s actual loss is and who is responsible for paying before settling the claim. This is often a several step claims process.</span></p>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">A common type of claim in condos and coops where several of the insurance policies are required to pay out is water damage claims.</span></p>\n<p id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Depending on the type of coverage the master HOA policy has, you may also run into gaps in coverage. Don\'t get stuck in a difficult or unexpected claim situation.</span></p>\n<h2 id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What you need to know about condo insurance</span></h2>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">We are going to cover everything you need to know about the insurance implications for your condo insurance so that if a claim happens you know exactly what you\'re in for, and how to get the best claim settlement. Including:</span></p>\n<ul id=\"mntl-sc-block_1-0-14\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Condo Insurance: Unit Assessment Coverage and Shared Areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Questions You Need to Ask Your Condo Association about the HOA Insurance</span></li>\n<li><span style=\"color: #0c0c0c;\">Understanding All In vs Bare Walls In HOA Master Policy Coverage</span></li>\n<li><span style=\"color: #0c0c0c;\">Major Risks and Perils Not Automatically Covered In Most Condo and Co-op Policies</span></li>\n<li><span style=\"color: #0c0c0c;\">Warning: Not Reading Your HOA or Condo Association Insurance Policy Could Cost You Hundreds Of Thousands of Dollars</span></li>\n</ul>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\"></span></p>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">First, let\'s start with the difference between condo and co-op, and homeowner insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">2. <span class=\"mntl-sc-block-heading__text\">Difference Between Condo Insurance and Home Insurance and Co-ops</span></span></strong></span></p>\n<p id=\"mntl-sc-block_1-0-17\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Although co-ops and condos may seem quite similar as living spaces, they are actually very different legally and financially. Because of the legal differences between condos and co-ops, the way they are insured varies. </span></p>\n<h2 id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Getting the Best Insurance for Your Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">To understand condo insurance and co-op insurance we need to look at the difference between condos and coops and how the needs for these types of homeowners vary from standard single-family homeowners needs</span></p>\n<h2 id=\"mntl-sc-block_2-0-28\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a co-op work?</span></h2>\n<p id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Co-op\'s (sometimes referred to as coops) are owned by a corporation, which means that as an owner of the unit, you don\'t actually own the building or the property, what you do own is a share of the holdings of the corporation. Small co-ops may only have two or three owners, whereas large co-ops may have hundreds of shareholders. In the event of a loss, the share of ownership in the building will come into play. Think of co-ops as multi-unit apartment buildings. The building has one owner: the corporation and the residents are tenants. The way they get the right to live there is via the purchase of shares in the building. They do not own the walls or any specific part of the building. The co-op management is taken care of by all members (shareholders), as a community. The building is, therefore, a communal property that may be unevenly divided based on the number of shares each \"owner\" has purchased.</span></p>\n<h2 id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">How does a condo work?</span></h2>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo\'s are owned by the condo owner. The condo owner usually owns their unit from the walls inward. Condo owners are property owners of their units. The condo building is made up of all the individual units, plus the common areas or shared areas. A master insurance policy is usually responsible for insuring the condo structure as a whole, including the shared areas, and then each individual condo unit owner is responsible for protecting their personal liability, their specific unit features (additions, alterations, or upgrades) as well as their personal property.</span></p>\n<h2 id=\"mntl-sc-block_2-0-32\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Why is condo or co-op insurance different from home insurance?</span></h2>\n<p id=\"mntl-sc-block_1-0-21\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As you can see by the definitions above, the owner of the building is different in all of these situations.</span></p>\n<h2 id=\"mntl-sc-block_2-0-34\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In one circumstance you have the condo, where the owners own the unit they have purchased. This means that they potentially own the walls, ceilings, and floors of their dwelling, but not the building itself. So in a condo, the owner has to insure the unit and its contents.</span></p>\n<h2 id=\"mntl-sc-block_2-0-36\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Home Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In a home, you have one owner for the building and contents, and responsibility for anything that happens as a result of your actions or ownership of your property. It is pretty straightforward.</span></p>\n<h2 id=\"mntl-sc-block_2-0-38\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Co-op Insurance and Owner Responsibilities</span></h2>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Whereas owners of a co-op do not own their unit at all, they are only owners of a percentage of the building, which means that the insurance they need for their personal property is really very much like a tenant policy. And a separate policy will cover the building managed by the corporation. The tenant insurance would be in the co-op owner\'s name, and the building will be in the corporation\'s name.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\"></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">3. <span class=\"mntl-sc-block-heading__text\">Condo Insurance : Unit Assessment Coverage and Shared Areas</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Understanding Shared Areas and Unit or Loss Assessment in Condos </span></h2>\n<p id=\"mntl-sc-block_1-0-26\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the more difficult things to understand with condo and coops is how claims play out in the shared areas of the building. Here is what you need to know to help you understand why these coverages are important.</span></p>\n<h2 id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What is a Shared Area in a Condo or Co-op</span></h2>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Shared Areas represent areas that are not within the unit dwelling you occupy, but are on the property. </span></p>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Examples of shared areas include hallways, elevators, gardens, rec rooms, gyms, pool areas, etc. </span></p>\n<h2 id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Condo Owner Liability for Shared Areas</span></h2>\n<p id=\"mntl-sc-block_1-0-29\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Special assessments may make you liable for:</span></p>\n<ul id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">A portion of medical costs or damages to a guest being injured in the shared areas of the property.</span></li>\n<li><span style=\"color: #0c0c0c;\">Claims arising from injuries in shared areas of the building.</span></li>\n</ul>\n<h2 id=\"mntl-sc-block_2-0-50\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Why is Loss Assessment Coverage Important?</span></h2>\n<p id=\"mntl-sc-block_1-0-31\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Loss assessment helps protect you from the unexpected expenses that you may have to pay as a result of damages and issues related to the building your condo is in. </span></p>\n<h2 id=\"mntl-sc-block_2-0-52\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Master Policy Coverage and Unit Assessments After a Claim</span></h2>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">When the Master Policy or HOA policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to cover.</span></p>\n<h2 id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Master Policy of a Condo Association or HOA May Have a High Deductible</span></h2>\n<p id=\"mntl-sc-block_1-0-33\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Since the condo master policy is a commercial building insurance the deductible is usually quite high, sometimes ranging over $10,000. When the deductible becomes payable in a claim, the amount may be divided among all the owners through an assessment.</span></p>\n<h2 id=\"mntl-sc-block_2-0-56\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Loss Assessment Insurance Limits</span></h2>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Policies have specific limits for loss assessment coverage on your individual condo policy. Make sure to find out what your limit is, and also find out if there is a limit for assessments due to your deductible.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">4. <span class=\"mntl-sc-block-heading__text\">What Kind Of Damage Does the HOA Insurance Cover vs Condo Insurance</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">What does the association master policy insurance cover?</span></h2>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Usually the following basic coverages are included in a master policy, however, the conditions of coverage vary. For example is the building insured to full value? You will have many questions to ask beyond these basic coverages:</span></p>\n<ul id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Damage to the building</span></li>\n<li><span style=\"color: #0c0c0c;\">Damage to the shared areas</span></li>\n<li><span style=\"color: #0c0c0c;\">Injury in shared areas</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Condo association insurance does not cover additions or alterations, appliances, fixtures or improvements which are in your unit, also referred to as the \"residence premises\". You need to get your own policy to cover anything else, including your belongings and personal liability.</span></p>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Understanding the Different Kinds of Master Policies</span></h2>\n<p id=\"mntl-sc-block_1-0-39\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">There are two different kinds of policies that might insure the building: \"All In\" or \"Bare Walls\" continue on the next section to learn what these cover and how this affects you and your choice of insurance.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">5. <span class=\"mntl-sc-block-heading__text\">Understanding All In vs Bare Walls HOA Master Policy Coverage</span></span></p>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">In order to insure yourself properly and protect yourself, you need to understand which parts of the structure of your apartment or condo are insured by the master association\'s policy. Does the association\'s policy insure the walls only, or will it include the fixtures that were originally part of the building when it was built? </span></p>\n<h2 id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">The Two Types of Insurance Coverage your Association May Have  </span></h2>\n<ol id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">\"All In\"</span></li>\n<li><span style=\"color: #0c0c0c;\">\"Bare Walls\"</span></li>\n</ol>\n<h2 id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"All In\" Condo Insurance Usually Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">The original structure, walls, floor, ceilings and fixtures as it was delivered when the building was originally built.</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">As the condo owner, you would then only need to insure additions and alterations made since the original structure was built, such as new flooring, upgrades in cabinetry, or bathroom or plumbing fixtures. Some policies may cover the additions and alterations of previous owners, but you need to ask so you can be aware. Sometimes you find an amazing condo or coop apartment and its been fully renovated, and you may assume that\'s covered by the master policy, but it may not be.</span></p>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">\"Bare Walls\" Condo Insurance Covers:</span></h2>\n<ul id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #0c0c0c;\">Bare walls</span></li>\n<li><span style=\"color: #0c0c0c;\">Floor</span></li>\n<li><span style=\"color: #0c0c0c;\">Ceiling</span></li>\n</ul>\n<p id=\"mntl-sc-block_1-0-46\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Bare walls will not cover any fixtures, like in bathrooms or anything else. You would need to insure all this on your personal condo policy,.</span></p>\n<h2 id=\"mntl-sc-block_2-0-77\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Choosing Your Personal Condo or Co-op Insurance Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-47\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Read your condo or association by-laws or for coops the proprietary lease. Then ask questions about the master policy to find out how much insurance you need for additions or alterations to your condo policy.</span></p>\n<p id=\"mntl-sc-block_1-0-48\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You may need to insure more than is provided on a standard condo policy by getting an endorsement, or by switching to a high-end insurer like ACE (formerly Chubb), who will offer you higher limits in the policy.</span></p>\n<p id=\"mntl-sc-block_1-0-49\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Once you know what is covered by the HOA or association, speak to your insurance broker or agent to make sure you choose the right insurance coverage for your needs. You have options.</span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\">6. <span class=\"mntl-sc-block-heading__text\">Beware of These Major Risks Not Covered In Most Condo Policies</span></span></strong></span></p>\n<p class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"font-size: x-large;\"><strong><span style=\"color: #0c0c0c;\"><span class=\"mntl-sc-block-heading__text\"></span></span></strong></span></p>\n<h2 id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Water Damage May Not Be Covered by Your Master Policy</span></h2>\n<p id=\"mntl-sc-block_1-0-51\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">One of the major insurance risks for condo owners is water damage claims. When you purchase your personal condo insurance policy make sure and get as much coverage as possible to protect you from any kind of water damage. The problem with condos is that you are at the mercy of your neighbors when it comes to this coverage: if their washing machine breaks down, their sink overflows, or pipe breaks, you have absolutely no control over how people are maintaining their units. Even in the best circumstances, water damage happens and when it does the risks can be huge.</span></p>\n<p id=\"mntl-sc-block_1-0-52\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Do not rely on the building HOA insurance policy for water damage. Make sure you also have your own coverage in place to cover damage to your personal property, additions, and alterations (otherwise known as betterments, or improvements)</span></p>\n<h2 id=\"mntl-sc-block_2-0-86\" class=\"comp mntl-sc-list-item-title mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #0c0c0c;\">Just because you have loss assessment coverage doesn\'t mean all special assessments are covered!</span></h2>\n<p id=\"mntl-sc-block_1-0-53\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">Say, for example, earthquake damages the building but the building did not have earthquake insurance. Or the earthquake insurance deductible was so high that the damage falls below the amount required to claim. The building may then impose a special assessment on the owners of the units to share in repairs and the cost of damage.</span></p>\n<p id=\"mntl-sc-block_1-0-54\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">You have loss assessment in your condo policy so you assume it\'s going to be covered, right? Wrong.</span></p>\n<p id=\"mntl-sc-block_1-0-55\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #0c0c0c;\">If your personal condo policy did not include the riders like earthquake insurance, then you would not be covered under the loss assessment portion of your policy, because the loss assessment is only for covered losses.</span></p>\n<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.thebalance.com/condominium-and-coop-essential-insurance-guide-4068492\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Understanding Condo Insurance and Co-op Insurance','','inherit','closed','closed','','1455-revision-v1','','','2021-04-13 20:24:43','2021-04-13 20:24:43','',1455,'http://smartinsurance.tips/1455-revision-v1/',0,'revision','',0),(1475,1,'2021-04-13 20:52:22','2021-04-13 20:52:22','','Homeowner insurance','','inherit','open','closed','','homeowner-insurance','','','2021-04-13 20:52:22','2021-04-13 20:52:22','',0,'http://smartinsurance.tips/wp-content/uploads/2021/04/Homeowner-insurance.jpg',0,'attachment','image/jpeg',0),(1477,1,'2021-04-13 20:58:49','2021-04-13 20:58:49','','11 Tips For Healthy Supermarket Shopping','','publish','closed','closed','','11-tips-for-healthy-supermarket-shopping','','','2022-04-25 23:11:11','2022-04-25 23:11:11','',0,'http://smartinsurance.tips/?page_id=1477',0,'page','',0),(2377,1,'2022-04-25 23:11:11','2022-04-25 23:11:11','','11 Tips For Healthy Supermarket Shopping','','inherit','closed','closed','','1477-revision-v1','','','2022-04-25 23:11:11','2022-04-25 23:11:11','',1477,'https://smartinsurance.tips/?p=2377',0,'revision','',0),(1478,1,'2021-04-13 20:58:49','2021-04-13 20:58:49','<!-- wp:divi/placeholder /-->','11 Tips For Healthy Supermarket Shopping','','inherit','closed','closed','','1477-revision-v1','','','2021-04-13 20:58:49','2021-04-13 20:58:49','',1477,'http://smartinsurance.tips/1477-revision-v1/',0,'revision','',0),(1476,1,'2021-04-13 20:55:21','2021-04-13 20:55:21','[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=\"farticle-title\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>Top Homeowners Insurance Tips For 2021</strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Homeowner-insurance.jpg\" width=\"871\" height=\"486\" alt=\"\" class=\"wp-image-1475 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To say it’s been an unpredictable and interesting year for homeowners would be a massive understatement. Western states had some of the worst wildfires in modern history and the 2020 Atlantic hurricane season earned the distinction as the busiest hurricane season on record.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">And then, of course, there’s the pandemic.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Despite all that, low mortgage rates and high home prices shattered records and the 2020 housing market outperformed the 2019 market in both price and volume.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">It was also a year when many homeowners decided to spruce up their place. About 62% of homeowners said they planned a maintenance or renovation project, according to a 2020 Home Renovation Consumer Survey by Farmers Insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">While we won’t be so bold as to dust off our crystal ball and predict any trends in home buying and renovation projects for 2021, what we can do is offer you practical advice to keep your homeowners insurance up to snuff so you’re in good shape for the unexpected.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Keep Track of Your Stuff</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">One of the most important homeowners insurance coverage types is your personal property coverage. That coverage pays to repair or replace your belongings—your clothes, jewelry, furniture, pots and pans, musical instruments, electronics, books, art, and even the decorations and knick-knacks you keep on your bookshelves.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">And let’s face it. You probably have a lot of stuff. So much stuff that you forget some of what you own. If you want to keep track of it, you really need a home inventory. A good home inventory can both speed up an insurance claim and help maximize your claim payment. It’s one of the smartest and easiest things you can do to prepare for unexpected home insurance claims.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Don’t Assume You’re Covered for Natural Disasters</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">A standard homeowners insurance policy excludes coverage for certain disasters, like floods and earthquakes. If you live in a disaster-prone area, you might need to bolster your home insurance with endorsements or additional policies to make sure you’re fully covered.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">For example, a good hurricane insurance policy is often a mix of homeowners and flood insurance. In some parts of the country, such as coastal Texas, you may also need a separate windstorm insurance policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you want coverage for earthquakes, look into getting earthquake insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Before you buy another policy or add an endorsement to your home insurance, it’s a good idea to speak with your insurance agent. That’s because policies for natural disasters can have complex limits (such as different limits for categories of property), exclusions and high deductibles.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Buy Coverage That Absorbs a Spike in Home Repair Costs</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Your dwelling coverage pays to repair or rebuild your home if it’s damaged by a problem covered by the policy, like a house fire.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Your dwelling coverage amount should be based on what it would cost to rebuild your home based on the local construction and labor costs. But certain situations, like a tornado that flattens entire neighborhoods, can cause a spike in rebuilding costs. Suddenly your dwelling coverage amount could be insufficient.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Fortunately, some home insurance companies offer what’s called “guaranteed replacement cost” or “extended replacement cost” to help absorb a spike in construction costs when they go above your dwelling coverage amount.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">It’s a good idea to add this to your policy if your insurer offers it, especially if you live in a disaster-prone area.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Bump Up Your Liability Coverage</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">With so much focus on your house and personal belongings, it’s easy to overlook liability coverage within a home insurance policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Liability insurance pays for a legal defense, judgments and settlements if someone sues you over injuries or property damage and you’re legally responsible. For example, if someone takes a bad fall at your house, a lawsuit would fall under your homeowners liability coverage.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">A good rule of thumb is to buy enough liability coverage to cover your assets, or what you could be taken from you in a lawsuit.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Another option to ensure you have adequate liability coverage is to purchase an umbrella insurance policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Understand Your Home Insurance Deductibles</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you haven’t reviewed your policy and some of the finer details, now is a good time to get to know your deductibles. If you wait until you file a claim, you might learn the hard way what your policy actually covers.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">The deductible is the amount of money deducted from an insurance claim check. For example, if you have a $1,000 deductible and $10,000 in damage, you’ll get a $9,000 insurance check.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Special deductibles might be hidden in your policy’s pages. For example, hurricane deductibles can range from 1% to 5% of the insured value of your home, meaning if your house is insured for $200,000 and you have a 5% deductible, your insurance check would be reduced by $10,000.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Did You Know There are Sub-Limits for Some Items?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Another thing to understand are sub-limits, also known as “special limits.”</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Sub-limits typically apply to high-value items. For example, your policy might only cover $1,500 for stolen jewelry. So if your $3,000 diamond bracelet gets stolen, your policy will only pay $1,500.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you have valuable items, you can pay more to “schedule” them so they’re insured for their full value.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Home Insurance Makeovers Should Be Part of Your Renovation Plan</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you have a home project in mind, make sure you understand the home insurance implications before you start swinging the sledgehammer. That’s because certain home renovation projects (like an addition) can increase the amount of home insurance you’ll need.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Shore Up Your Water Damage Coverage</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Your home insurance covers water damage and leaks, but not all types of water damage.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">A standard home insurance policy excludes water damage caused by earth movement, floods, hurricanes, tsunamis, sump pump failure, leaks from a swimming pool and seepage through a foundation.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">You can sometimes add coverage to account for these issues. For example, you can typically add water backup and sump pump failure coverage as an endorsement to a home insurance policy. And you can buy flood insurance through the National Flood Insurance Program (a federal program) and private insurers such as Wright Flood.</span></p>\n<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.forbes.com/advisor/homeowners-insurance/top-tips/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Top Homeowners Insurance Tips For 2021','','inherit','closed','closed','','1472-revision-v1','','','2021-04-13 20:55:21','2021-04-13 20:55:21','',1472,'http://smartinsurance.tips/1472-revision-v1/',0,'revision','',0),(1484,1,'2021-04-14 01:05:51','2021-04-14 01:05:51','[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\"]<h2 class=\"h1 text-tc-blue-800 font-weight-bold\" style=\"text-align: center;\"><span style=\"color: #0a0a0a;\"><strong>The Ultimate Guide to Directors and Officers Insurance</strong></span></h2>[/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\" custom_padding=\"||1px|||\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Directors-and-officers-1024x370.jpg\" width=\"1024\" height=\"370\" alt=\"\" class=\"wp-image-1321 aligncenter size-large\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<span style=\"font-size: medium; color: #0a0a0a;\">Directors and officers insurance turbocharges your business and nonprofit insurance. Here\'s how it works.</span></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"font-size: medium; color: #0a0a0a;\"></span></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"font-size: medium; color: #0a0a0a;\"></span></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"font-size: medium; color: #0a0a0a;\"></span></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">It’s got a mysterious name and an even more mysterious purpose: What makes directors and officers so special that they need their own insurance? (You might feel extra-confused when you hear its even-more-mysterious nickname, D&amp;O insurance.)</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">The truth is that directors and officers insurance is a critically important tool to keep your business or nonprofit solvent and thriving. It shields your organization from legal trouble and helps your leadership make smart, innovative decisions. </span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">What Is Directors and Officers Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Directors and officers insurance covers legal fees and damages in case there’s a lawsuit against an organization’s board members, officers or other leadership. It’s purchased by an organization on behalf of those leaders, and kicks in whenever one or more of them is named in a suit. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">The insurance company pays for legal representation and damages up to the insurance policy’s cap (usually in the millions range, like $5 million or $10 million).</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Examples of groups that might sue include stockholders angry at plummeting prices, employees who feel their benefits were mismanaged, or victims of a sexual harasser who sat on your board.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Many insurance companies that offer directors and officers insurance provide other legal services to their customers, including free or reduced-cost legal advice that’s designed to help avoid D&amp;O claims before they happen.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Directors and officers insurance helps you fulfill indemnification clauses. These are agreements that an organization will pay for any legal fees and damages incurred by a board member or high-level employee in the course of their job, and it’s usually part of a contract signed before movers and shakers come on board.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To fulfill this clause, a D&amp;O insurance policy can be paid directly to the people dealing with the legal challenge, or it can be paid out to the organization, which in turn pays for the legal costs of its board members and employees.</span></p>\n<p style=\"text-align: left;\"></p>\n<h3 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">In the past few years, these were the top reasons companies had to use their D&amp;O insurance:</span></h3>\n<div style=\"text-align: left;\">\n<div class=\"icon-list-single-right-caret\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">Noncompliance with laws and regulations (34%)</span></li>\n<li><span style=\"color: #0a0a0a;\">Negligence (21%)</span></li>\n<li><span style=\"color: #0a0a0a;\">Maladministration or lack of controls (7%)</span></li>\n<li><span style=\"color: #0a0a0a;\">Breach of trust or fiduciary duty (6%)</span></li>\n<li><span style=\"color: #0a0a0a;\">Inadequate or inaccurate disclosure (2%)</span></li>\n<li><span style=\"color: #0a0a0a;\">Other (30%)</span></li>\n</ul>\n</div>\n</div>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Only a third of cases where directors and officers were sued had to do with laws and regulations. Illegal or shady deeds might be the first thing you think of when it comes to lawsuits against CEOs, but it’s definitely not the only reason this type of insurance comes in handy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If directors or officers mismanage employee benefits like health insurance or 401(k) plans, that can be a cause for a D&amp;O insurance claim. This scenario may also be covered under a related type of insurance often sold alongside D&amp;O insurance, called <strong>fiduciary insurance</strong><strong>. </strong></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">This type of insurance covers legal fees and damages when a company fails in its financial responsibilities to employees, stockholders or other stakeholders.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Directors and officers insurance can be used to protect a company from the financial cost of a secret villain in its upper ranks—one who goes on a racist or sexist rant and does major damage to the company’s reputation, for example. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">But it’s just as easily used to safeguard against more ordinary kinds of mistakes. Even a small misstep by a CEO or board member, like a cranky off-the-cuff remark to a reporter, can cause major headaches. D&amp;O insurance is there to cover the legal fallout.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">D&amp;O insurance can be purchased for both nonprofits and for-profit businesses. Even churches and other religious organizations might choose to buy this insurance.</span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Who Needs Directors and Officers Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">You should consider getting directors and officers insurance as soon as your nonprofit or business develops a leadership structure, especially one that includes a board of directors. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Even the tiniest nonprofits often have a board of directors right away, so it’s helpful for them to look into D&amp;O insurance early, even if they wait until they have a steady stream of donations to buy it.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Businesses, on the other hand, may wait many years before buying D&amp;O insurance. If you run a small local business with a handful of employees, directors and officers insurance is probably an unnecessary expense. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">(It’s definitely an unnecessary expense for sole proprietorships!) It becomes a lot more important once you have more than a layer or two of management.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Directors and officers insurance is most crucial for mid-size businesses. As they take on new business and contracts and expand into new markets, leadership needs to make bigger and riskier decisions, exposing them to bigger and riskier, er, risks. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">These companies don’t have the deep pockets of larger corporations to patch things up if things go south, so D&amp;O insurance can be the deciding factor between solvency and bankruptcy in a crisis.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you’re thinking about joining the board of an organization, whether it’s nonprofit or for-profit, you should ask to be covered by directors and officers insurance. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Otherwise that liability is on you or the organization, which might not have enough money to cover your costs in a worst-case scenario lawsuit. That could cost you millions of dollars, personally. Ouch.</span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Why Is Directors and Officers Insurance Important?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Directors and officers insurance doesn’t just protect the individual people listed in the policy. It protects the whole organization by ensuring that it won’t have to pay out a big indemnification clause settlement that could lead to bankruptcy. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">It also preserves business relationships between the directors, officers and everybody else.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you knew that any decision you made could cost you gobs of money if it went wrong—to the tune of millions of dollars—you’d probably be extremely cautious in your decision-making, right? Maybe you’d hesitate to make any decisions at all. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">That’s what can happen without directors and officers insurance, and it’s not good for business. Some amount of risk is necessary for growth, and D&amp;O insurance allows decision-makers to take that risk safely, without worrying about bankrupting the organization they work for.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Purchasing directors and officers insurance can also be required by the board, upper management or investors, meaning you’ll need to get it whether you want it or not.</span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How Much Does Directors and Officers Insurance Cost?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Smaller businesses and nonprofits looking to buy directors and officers insurance can expect to pay in the low thousands of dollars each year, usually starting around $2,000. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">At the other extreme, mega-corporations like Disney and Walmart might pay more for their directors and officers insurance each year than mid-size companies earn in revenue. Most organizations can expect to pay in the upper thousands or tens of thousands each year.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">The biggest factor in the cost of directors and officers insurance is the size of the organization. This includes the number of employees, stockholders and other stakeholders, as well as the amount of revenue it handles each year. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Operating in a field where there’s a lot of extra legal and financial risk, like the financial sector or an oil and energy company, can also make this insurance more expensive.</span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How To Save Money on Directors and Officers Insurance</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">The best way to save money on this type of insurance is to keep everyone’s noses squeaky-clean. You should have crystal clear guidelines for board and C-suite level behavior, including procedures for how to remove someone who’s become a loose cannon. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Do business as transparently as possible and avoid the kind of secretive dealings that make embarrassing gaffes or mistakes more likely.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">It might seem a little wishy-washy, but that’s truly the best way to get directors and officers insurance discounts. Other factors that influence the cost of D&amp;O insurance—like your company’s size and industry—aren’t easily changeable. (It would be pretty silly to limit the growth of your organization just to save on insurance.)</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Another way to get a discount is by bundling your D&amp;O insurance with other types of business or nonprofit insurance. Insurance companies want your business, so to motivate you to buy as many different types of insurance with them as possible, they’ll usually cut you a discount.</span></p>\n<p style=\"text-align: left;\"></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How To Get Directors and Officers Insurance</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you’re already working with an insurance agent for your nonprofit or business insurance, then shopping for directors and officers insurance is easy: Just ask your agent to start looking for quotes. </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Ask if you can bundle your D&amp;O insurance in with your existing business insurance, since many insurance companies offer both for a discount.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you’re not working with an expert yet, here are a few good reasons to go indie:</span></p>\n<div>\n<div class=\"icon-list-single-right-caret\">\n<ul>\n<li style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Agents work for you, not the insurance companies. They’ll round up quotes from multiple companies and help you shop for the coverage you want at the price you want.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Agents are experts and specialists. They know their niche inside and out and can help advise you about the insurance choices similar organizations have made.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">They do the hard parts for you. You fill out an application and answer a few questions, they do all the math and shopping. That way you can focus on what’s important: running your organization.</span></li>\n</ul>\n</div>\n</div>\n<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.trustedchoice.com/business-insurance/coverage-types/directors-and-officers-insurance/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','The Ultimate Guide to Directors and Officers Insurance','','inherit','closed','closed','','1318-revision-v1','','','2021-04-14 01:05:51','2021-04-14 01:05:51','',1318,'http://smartinsurance.tips/1318-revision-v1/',0,'revision','',0),(1490,1,'2021-04-16 19:56:40','2021-04-16 19:56:40','[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=\"farticle-title\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>You Probably Need Umbrella Insurance</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Umbrella.jpg\" width=\"867\" height=\"488\" alt=\"\" class=\"wp-image-1465 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"> </span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Liability insurance protects you and your family’s finances from major disasters, such as a lawsuit against you (even if the charges are groundless). For example, if you crash into someone else, liability car insurance pays for a legal defense and any judgments or settlements. Or if your dog bites someone, homeowners liability insurance covers medical expenses.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">But the safety net of liability insurance only stretches as far as the coverage amount you have. If you have significant assets that you could lose in a lawsuit, you need higher levels of liability insurance. Here’s more on <a href=\"https://www.forbes.com/advisor/homeowners-insurance/what-can-be-taken-in-lawsuit/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/homeowners-insurance/what-can-be-taken-in-lawsuit/\" style=\"color: #0a0a0a;\">what can be taken from you in a lawsuit</a>.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">That’s where umbrella insurance policies come in. An umbrella policy is designed to help prevent financial ruin from a catastrophic event that you’re financially responsible for.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">What is Umbrella Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance provides “excess liability insurance” (meaning additional coverage) beyond the liability insurance already in your auto, homeowners and/or watercraft insurance policies. It’s for expensive situations where medical bills or repairs exceed your “base” auto, home or boat policies. For example:</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You cause a serious auto or boating accident. </strong>Auto accident bills can amount quickly, especially if you’re responsible for the medical bills of multiple people. Your auto or watercraft insurance policy would pay first, up to its maximum, followed by umbrella insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>Your dog bites someone. </strong>Dog bites are typically covered by a homeowners insurance policy. But if you’re sued for an amount above your <a class=\"wpil_keyword_link\" href=\"https://www.forbes.com/advisor/homeowners-insurance/best-homeowners-insurance-companies/\" title=\"home insurance\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/homeowners-insurance/best-homeowners-insurance-companies/\" style=\"color: #0a0a0a;\">home insurance</a> liability limits (such as medical bills and pain and suffering), your umbrella policy would start paying.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You drive your car into a building. I</strong>t happens–someone is parked close to a convenience store and they put the car in drive rather than reverse, causing extensive building damage. An <a data-wpil=\"url\" href=\"https://www.forbes.com/advisor/car-insurance/best-car-insurance-companies/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/car-insurance/best-car-insurance-companies/\" style=\"color: #0a0a0a;\">auto insurance</a> policy would pay for the property damage first, followed by an umbrella policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You accidentally injure someone. </strong>If you or a family member accidentally injures someone, umbrella insurance will pay when auto or home insurance is exhausted. For example, say your son accidentally throws a baseball into someone’s face, causing extensive injury. Your homeowners liability insurance will pay first, followed by umbrella insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><strong>You’re on a board of directors of a charity and are sued for a board-related issue.</strong> An umbrella policy may provide coverage for lawsuits against you related to your work on a board of directors. The coverage may depend on whether the board is a non-profit and whether you’re paid for your service. It’s best to consult your insurance agent to understand whether you’ll be covered.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">According to the Insurance Information Institute, a $1 million umbrella policy will cost about $150 to $300 per year. Generally, the next million will cost roughly $75 and $50 for every million after that.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How Does Umbrella Insurance Work?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance kicks in when your “base” liability limits have been reached. Here’s an example: You cause a car accident that results in severe injuries for multiple people. The medical bills are $400,000, which exceeds your $300,000 in <a href=\"https://www.forbes.com/advisor/car-insurance/liability-insurance/\" ga-data-track=\"ExternalLink:https://www.forbes.com/advisor/car-insurance/liability-insurance/\" style=\"color: #0a0a0a;\">liability auto insurance</a> policy limits. Your umbrella insurance can cover the remaining $100,000.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To add to this example, let’s say one of the injured parties is a highly paid professional who cannot perform their job for six months because of the injuries. Because your car insurance liability limits are exhausted, without umbrella insurance your assets such as your house and savings could be at risk with the extra layer of insurance from an umbrella policy.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 26px;\"></span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 26px;\">Umbrella Coverage Beyond the Base Policy</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span><span style=\"color: #0a0a0a; font-size: 14px;\">Another advantage of umbrella insurance is that it usually provides coverage that’s not found in the base auto or homeowners policy at all. For example:</span><span style=\"color: #0a0a0a;\"></span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Libel, defamation or slander. For example, if you post something defamatory about someone else to a website, you could be used.</span></li>\n<li><span style=\"color: #0a0a0a;\">False arrest, imprisonment or detention</span></li>\n<li><span style=\"color: #0a0a0a;\">Malicious prosecution</span></li>\n<li><span style=\"color: #0a0a0a;\">Wrongful eviction or entry</span></li>\n<li><span style=\"color: #0a0a0a;\">Invasion of privacy</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">What Umbrella Insurance Won’t Cover</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance doesn’t cover your own injuries or damage to your own property. For example, your health insurance would typically cover medical expenses for injuries and your homeowners insurance would cover your property from problems like fire or theft. Here are other losses typically not covered by umbrella insurance:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Damage to your personal belongings</span></li>\n<li><span style=\"color: #0a0a0a;\">Business losses</span></li>\n<li><span style=\"color: #0a0a0a;\">Intentional criminal acts</span></li>\n<li><span style=\"color: #0a0a0a;\">Written or oral contracts</span></li>\n</ul>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">While umbrella insurance provides an important safeguard against lawsuit judgments and settlements, examples of situations it generally won’t cover include:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Intentional acts or injury</span></li>\n<li><span style=\"color: #0a0a0a;\">Damages due to nuclear radiation, war or terrorism</span></li>\n<li><span style=\"color: #0a0a0a;\">Communicable disease, such as a lawsuit against you for giving someone herpes.</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How to Buy Umbrella Insurance</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Umbrella insurance is commonly available from insurers that sell auto, home and watercraft insurance.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">You’ll need a certain amount of liability insurance in the base policy before you can add umbrella insurance. For example, you might need to have:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Home insurance: $300,000 in liability</span></li>\n<li><span style=\"color: #0a0a0a;\">Auto insurance: $100,000 per person/$300,000 per occurrence for bodily injury and $100,000 for property damage, or more</span></li>\n<li><span style=\"color: #0a0a0a;\">Watercraft insurance: $300,000 in liability</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Do You Need Umbrella Insurance?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Wealthy households in particular need umbrella insurance. A wealthy individual or family can be a lawsuit target.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">In addition, these circumstances could increase your chances of being sued:</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">You serve on a charitable board.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have a swimming pool, pond or trampoline.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have dogs, horses or other large animals.</span></li>\n<li><span style=\"color: #0a0a0a;\">You manage a family trust.</span></li>\n<li><span style=\"color: #0a0a0a;\">You host large parties in your home.</span></li>\n<li><span style=\"color: #0a0a0a;\">You employ household staff.</span></li>\n<li><span style=\"color: #0a0a0a;\">You have a high public profile.</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h2 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">How Much Umbrella Coverage Do I Need?</span></h2>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">When selecting the right amount of coverage there are a couple things to consider.</span></p>\n<ul style=\"text-align: left;\">\n<li><span style=\"color: #0a0a0a;\">Value of your assets: An umbrella policy should cover at least the value of your assets — this is what you stand to lose in a lawsuit.</span></li>\n<li><span style=\"color: #0a0a0a;\">Potential future income loss: Your current assets and future income could be at risk in a lawsuit. Even if you have a limited income now, consider your potential future income. For instance, if you’re a medical student, you should consider your future earning potential.</span></li>\n</ul>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">A long legal proceeding is stressful and can potentially ruin a reputation, whether or not the lawsuit was baseless. Purchasing an umbrella policy won’t help the stress, but it can save everything you’ve worked so hard to amass.</span></p>\n<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.forbes.com/advisor/car-insurance/umbrella-insurance/\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','You Probably Need Umbrella Insurance','','inherit','closed','closed','','1462-revision-v1','','','2021-04-16 19:56:40','2021-04-16 19:56:40','',1462,'http://smartinsurance.tips/1462-revision-v1/',0,'revision','',0),(1492,1,'2021-04-16 19:58:23','2021-04-16 19:58:23','[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=\"buying-hero__title crux-page-title crux-black\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>Refrigerator Buying Guide</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Refrigerator.jpg\" width=\"288\" height=\"441\" alt=\"\" class=\"wp-image-1453 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<div class=\"col-xs-12 col-lg-10 bg-component__container\">\n<div class=\"parbase intro introtext text\">\n<div class=\"text-container crux-intro-large\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">When it comes to refrigerators, options nowadays go far beyond simply getting a glass of ice water without having to open the door. With custom panels, you can get a built-in that exactly matches your kitchen cabinets. And forget four doors—some newer models have five. You can even pull out a refrigerated drawer and find it full of cold sodas. Our fridge-by-fridge guide helps you choose the right type for your family, demystifies claimed vs. usable storage space, and helps you to find the quietest models—so you, and your groceries, can chill out.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-lg-10 bg-component__container\">\n<div class=\"bgsections parsys\">\n<div class=\"advertEditable parbase section\" style=\"text-align: left;\">\n<div class=\"container-fluid hidden-print\">\n<div class=\"row no-gutters\">\n<div class=\"col-xs-12\"></div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">Latest Trends</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Refrigerators might not seem as high-tech as smartphones and computers, but manufacturers keep trying to innovate on them, even if some of those innovations might feel gimmicky.</span></p>\n<p><span style=\"color: #0a0a0a;\">Samsung has added large touch screens and cameras to many of its French-door and side-by-side models, complete with apps for recipes, watching TV, playing music, and controlling smart home devices. LG has models with windows for seeing what’s inside without opening the door, as well as a Craft Ice feature that makes large ice balls for cocktails and spirits. GE even makes French-doors with a built-in Keurig coffee maker. And many manufacturers are creating door-in-door refrigerators with a small outer door over the fresh-food cavity’s door that opens for easy access to items on the door shelves.</span></p>\n<p><span style=\"color: #0a0a0a;\">What isn’t a gimmick, though, is consumer preference for refrigerator configuration. According to CR’s most recent refrigerator survey, French-doors made up 64 percent of new refrigerators purchased by CR members in 2019 and the first half of 2020, followed by side-by-sides at 20 percent, bottom-freezers at 6 percent, and top-freezers and built-ins at 5 percent each. Retailers are following this trend, too. According to market research firm Gap Intelligence, French-doors make up 61 percent of in-store selection.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\"></div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">How We Rate Refrigerators</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">In our labs, each refrigerator we test gets wired up with temperature sensors. We then monitor it for more than a month in a temperature-controlled chamber to evaluate thermostat control and temperature uniformity.</span></p>\n<p><span style=\"color: #0a0a0a;\">CR’s test engineers collect more than 5.4 million temperature readings for each model to detect warm and cold spots and determine which refrigerators will keep your food fresh longest. The results reveal that many refrigerators simply don’t do well at their primary task, and that could mean more wasted food and bigger grocery bills.</span></p>\n<p><span style=\"color: #0a0a0a;\">To test the freezer compartments of refrigerators, our engineers fill the appliances with boxes and boxes of frozen spinach, then evaluate how well they keep the packages frozen.</span></p>\n<p><span style=\"color: #0a0a0a;\">In addition, we measure usable storage capacity, which rarely matches what manufacturers claim. Our engineers then use these measurements to calculate energy efficiency. Finally, we incorporate survey data collected from CR members on thousands of refrigerators to judge predicted reliability and owner satisfaction for each brand and refrigerator type.</span></p>\n<p><span style=\"color: #0a0a0a;\">All this data is consolidated into one Overall Score for each model and shown in our refrigerator ratings charts, which at any given time feature more than 300 models. </span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\"></div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"parbase producttypes section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-producttypes\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a;\">Pick a Style</span></h3>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">There’s a refrigerator configuration to suit every household. French-door models are extremely popular because of their high-end aesthetic. Some consumers prefer the convenience of bottom freezers, which put fresh foods at eye level, but side-by-sides can fit better in a smaller kitchen because of their narrow doors. Here’s what you need to know to make the best choice. See our full refrigerator ratings for how models in the different sizes and styles below performed in our tests.</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"section-responsive-columns-par parsys\">\n<div class=\"sectionitem responsivecolumn section\">\n<div class=\"responsivecolumn-wrapper columns-size-3\">\n<div class=\"container-fluid\">\n<div class=\"row\">\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-1\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" alt=\"A top-freezer refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-top-freezer-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Top-Freezer Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">These traditional refrigerators are good for a lot of storage in a fairly tight spot. They tend to offer the most space for their size. (Widths vary between 28 and 33 inches.) Manufacturers claim up to 23-cubic-foot capacities, but our tests found that average usable capacity is 17 percent less. Allow for a wide swing of the doors, and get used to crouching down to reach lower shelves and drawers.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Top-Freezer Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-2\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" alt=\"A bottom-freezer refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-refrigerator-bottom-freezer\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Bottom-Freezer Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Widths range from 24 to 36 inches, and claimed capacities approach 30 cubic feet, though average usable space is less than that of comparable top-freezers. (Top-freezers cost less, too.) Instead of the freezer, which many people use less, being at eye level, your refrigerator shelves are easily scannable. Just get used to bending to rifle through frozen goods.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Bottom-Freezer Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-4\">\n<div class=\"parsys column-3\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" alt=\"A French-door refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-french-door-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">French-Door Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">These have two narrow doors on top and a freezer below. Sometimes there is one drawer (or more) in between. Widths range from 28 to 36 inches. Claimed capacities go up to 34 cubic feet, though the average usable space is much less, at 17 cubic feet. The space-saving small-swing doors have the added value of opening only half the fridge when you’re stashing smaller items.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">French-Door Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"sectionitem responsivecolumn section\">\n<div class=\"responsivecolumn-wrapper columns-size-2\">\n<div class=\"container-fluid\">\n<div class=\"row\">\n<div class=\"col-xs-12 col-sm-6\">\n<div class=\"parsys column-1\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" alt=\"A side-by-side refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-side-by-side-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Side-by-Side Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">With the fridge on one side and freezer on the other, these usually have through-the-door ice and water dispensers. With widths typically 33 to 36 inches, they’re claimed to have up to about 28 cubic feet capacity (but only about 70 percent is usable). Narrow doors are a plus for small kitchens, but they don’t open wide enough for, say, a pizza box, and tall, narrow compartments make items stuck at the back hard to find. Overall, they’re not as energy- or space-efficient as other types.</span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\">Side-By-Side Refrigerators Ratings</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12 col-sm-6\">\n<div class=\"parsys column-2\">\n<div class=\"imageandtext parbase section\">\n<div class=\"image-content\">\n<div class=\"image-wrapper\"><span style=\"color: #0a0a0a;\"> <img class=\"image cld-responsive loaded\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" alt=\"A built-in refrigerator.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/cro/news_articles/appliances/cr-bg-built-in-refrigerator\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></span></div>\n</div>\n<div class=\"crux-article\">\n<h3><span style=\"color: #0a0a0a;\">Built-In Refrigerators</span></h3>\n</div>\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Pricey and made to fit almost flush with cabinets and counters, these sleek beauties come in bottom-freezer, side-by-side, and French-door styles. They are usually tall (above 70 inches) and wide (30 to 48 inches), with capacities up to 27 cubic feet (of which only about 70 percent is usable). Look for optional front panels to match your kitchen cabinets. Or get the look for a little less with a freestanding counter-depth version. Another built-in option: a column fridge, as narrow as 18 inches, to make the most of a kitchen nook.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n<div class=\"imageandtext parbase section\"></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Consider Size</span></h3>\n<div class=\"text-container crux-article\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Most refrigerator configurations come in a range of sizes and capacities. Always measure where you plan to put the refrigerator before you shop. And make sure it can fit through doorways. Allow room for the refrigerator’s doors to swing open and for a 1-inch clearance around the sides and back for adequate airflow.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To help you find the right size refrigerator for your kitchen, our refrigerator ratings are now organized by width, allowing you to easily see the highest-rated models for the size you need. You’ll find models ranging from the standard 36 inches wide down to 24 inches. We also note the height and depth of each tested model.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To help you find the best refrigerators outside the standard dimensions, we have guides to the best counter-depth refrigerators, 30-inch-wide refrigerators, and 33-inch-wide refrigerators.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">As for capacity, most manufacturers recommend 19 to 22 cubic feet for a family of four. But if you do a big weekly shopping trip or buy in bulk, you may need more—up to 30 to 33 cubic feet. Note: Our tests found that the amount of usable storage was often less than the amount claimed. Check our refrigerator ratings for the actual capacity of each model. And to see the biggest (and best) fridges from our ratings, see this guide to the best refrigerators for big families.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a; font-size: 22px;\">Decode the Energy Guide Label</span></p>\n<div class=\"textandimage parbase section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<div class=\"text-container crux-article\">\n<p><span style=\"color: #0a0a0a;\">Energy efficiency has become a big selling point with consumers. All new refrigerators are a lot more efficient than they were a decade ago, but here’s a look behind the label—to help you go as green as possible.</span></p>\n<p><span style=\"color: #0a0a0a;\">The Environmental Protection Agency’s Energy Star rating is a good place to start when shopping; it means that a product is in or around the top 25 percent of the market, but efficiency varies by model (i.e., an unlabeled top-freezer might be more efficient than an Energy Star certified French-door model). Additionally, we test for energy consumption, which can add up to a $50 to $60 difference per year, or more than $500 over the life of the unit.</span></p>\n<p><span style=\"color: #0a0a0a;\">For an apples-to-apples comparison of which models are most efficient, look at the EnergyGuide labels of the refrigerators you’re considering, and compare the annual operating costs and the kilowatt-hours used per year.</span></p>\n<p><span style=\"color: #0a0a0a;\">We give all the refrigerators we test a score for energy efficiency and list their estimated annual energy cost. You can check our refrigerator ratings for details.</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"image section-image parbase\">\n<div class=\"image-content\">\n<div class=\"image-wrapper image-bp-750\"><span style=\"color: #0a0a0a;\"><picture><source srcset=\"\" media=\"(max-width: 480px)\" /><img class=\"image cld-responsive loaded\" data-srcset=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" data-src=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" alt=\"The EnergyGuide label.\" data-src-lazy=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" srcset=\"//article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" src=\"https://article.images.consumerreports.org/f_auto/prod/content/dam/CRO-Images-2021/Appliances/02Feb/EnergyGuide-update-2-21\" data-was-processed=\"true\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></picture><span style=\"font-size: 14px;\"></span></span></div>\n</div>\n</div>\n<div class=\"ratingsbutton section-ratings-button parbase\">\n<div class=\"ratings-button-wrapper\"><span style=\"color: #0a0a0a;\"></span></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"parbase photogallery section generic\" style=\"text-align: left;\">\n<div class=\"row\">\n<div class=\"bg-photogallery\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\"><span style=\"color: #0a0a0a; font-size: 22px;\">Five Features You\'ll Want</span></h3>\n<div class=\"text-container crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Refrigerators at all prices are increasingly tricked out with options to make your life easier and more organized. French-door models are usually the most loaded. Just know that if you can’t live without adjustable shelving or an in-door coffee maker, you’ll have to pay top dollar. The features below are the ones we think will add the most convenience to your refrigerator. </span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Through-the-Door Ice and Water Dispenser</span></p>\n</div>\n</div>\n</div>\n<div class=\"col-xs-12\">\n<div class=\"photogallery section-pg\">\n<div class=\"photogallery-wrapper\">\n<div class=\"displayCaption\">\n<div class=\"caption-box\">\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">This is one of the features most requested by buyers. Caveat: We found that models with this convenience also require the most repairs. Energy costs are higher, too, and you trade ice water for storage space.</span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Door-in-Door Storage Access</span></p>\n</div>\n<div class=\"credit crux-label-style crux-label-style--small\">\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Without opening the entire door, you can grab frequently used beverages and condiments. That will save on energy costs in the long run.</span></p>\n<p><span style=\"color: #0a0a0a; font-size: 18px;\">Freshness Features</span></p>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">Dual evaporators help maintain higher humidity levels in the refrigerated areas and prevent freezer odors from migrating there. Air purifiers eliminate bacteria and mold spores, while vacuum-sealed crisper drawers are meant to keep food fresher longer.</span></p>\n<h4 class=\"crux-body-copy crux-body-copy--small--bold\"><span style=\"color: #0a0a0a;\">Temperature Controls</span></h4>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">You decide how cold your fridge is in certain areas. For example, set a drawer to be cooler than the rest of the fridge to better store meat, fish, and cold cuts.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<h4 class=\"crux-body-copy crux-body-copy--small--bold\"><span style=\"color: #0a0a0a;\">Better Shelves and Drawers</span></h4>\n<div class=\"crux-body-copy crux-body-copy--small\">\n<p><span style=\"color: #0a0a0a;\">You can rearrange split shelves to different heights independently, and adjust doors to fit taller items. However, if your door has deep storage bins meant for eggs, milk, or butter, be aware that these items are better off on internal shelves, where cooler temperatures keep them fresher longer. Elevator shelves crank up and down without needing to be unloaded. Shelf snuggers attach to racks to secure bottles and jars. Pullout shelves or bins make access to stored items easier.</span></p>\n</div>\n</div>\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<div class=\"textandimage parbase section generic\">\n<div class=\"row\">\n<div class=\"bg-textimage\">\n<div class=\"col-xs-12\">\n<div class=\"section-text parbase text textsection\">\n<h3 class=\"crux-section-header\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Shopping Tips</span></h3>\n<div class=\"text-container crux-article\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Once you’ve settled on a fridge style, the required dimensions, and the features you want, it’s time to start shopping. Many consumers start their search online, then head to the store to check out the models they’re most interested in.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">If you don’t need a new fridge right away, it can also help to wait for the next major sale holiday, which at this time of year is Memorial Day weekend. We find that refrigerator prices tend to dip in the summer and hit their lowest point around Black Friday, so other sale holidays, such as Labor Day, are your next best bet to snag a deal.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Of course, the coronavirus pandemic is affecting the appliance market. There is an appliance shortage, which means many models are out of stock or back-ordered for anywhere from a few weeks to a few months. Because inventory is low, retailers also don’t need to discount refrigerators as heavily as they normally would. (For more on the appliance shortage, see our guide to getting a deal during the shortage.)</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Despite the shortage, we still recommend that you comparison shop. Don’t forget to check local, independent retailers, and don’t be afraid to haggle or ask for a discount. If you aren’t sure where to start, see our guide to the best appliance stores.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Another option if you’re on a budget, or simply looking for a good deal, is to consider buying a used refrigerator. You can get a higher-end model for a lot less than the retail price. The best places to look for used fridges are used appliance stores and, believe it or not, appliance repair shops. Both types of stores will usually give you a warranty, too. For more on purchasing used appliances, see our used-appliances guide.</span></p>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</div>\n<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.consumerreports.org/cro/refrigerators/buying-guide/index.htm\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Refrigerator Buying Guide','','inherit','closed','closed','','1450-revision-v1','','','2021-04-16 19:58:23','2021-04-16 19:58:23','',1450,'http://smartinsurance.tips/1450-revision-v1/',0,'revision','',0),(1494,1,'2021-04-16 20:00:34','2021-04-16 20:00:34','','My Post (37)','','inherit','open','closed','','my-post-37','','','2021-04-16 20:00:34','2021-04-16 20:00:34','',0,'http://smartinsurance.tips/wp-content/uploads/2021/04/My-Post-37.jpg',0,'attachment','image/jpeg',0),(1496,1,'2021-04-16 20:01:15','2021-04-16 20:01:15','[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\" size=\"5\" class=\"Heading__HeadingStyled-sc-1w5xk2o-0 bqrWOf Heading-sc-1w5xk2o-1 NJLrK\" style=\"text-align: center;\"><strong>Maybe Money Can Help Buy Happiness, After All</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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/My-Post-37-1024x536.jpg\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1494 aligncenter size-large\" /></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<p>&nbsp;</p>\n<p><span style=\"color: #0a0a0a; font-size: 14px; text-align: left;\">Millionaires, rejoice! It turns out that money can, in fact, buy happiness. And a new study suggests more is better, with well-being rising as earnings grow.</span></p>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">\"Having more money gives people a greater sense of control over life,\" said study author Matthew Killingsworth.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">The finding stems from more than 1.7 million real-time reports of well-being from more than 33,000 U.S. adults. They were prompted by their cellphones to answer the question \"How do you feel right now?\" at random times during their waking hours.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Previous research had suggested that an annual income of more than $75,000 might not improve people\'s day-to-day lives, and that notion has been widely circulated.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">But this study appears to disagree.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Seen from a moment-by-moment angle, Killingsworth said, the data show \"evidence that happiness rises continuously, far above $75,000,\" which means there\'s reason to believe that more money really does improve people\'s lives.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">\"If you have more money, you can choose how to spend your time and how to direct your life,\" said Killingsworth, a senior fellow at the University of Pennsylvania\'s Wharton School of Business, in Philadelphia.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\"><strong>Stress reduction</strong></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">This study found that a sense of control accounted for as much as 74% of the apparent link between greater income and greater well-being.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">People who earn more spend less time stressing out about bills, Killingsworth noted.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">The study found that 44% of low-earners had money problems, compared with 7% among those earning over $500,000, he said.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">\"To put it another way: People with low incomes were seven times as likely to report trouble coping with bills,\" Killingsworth explained.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">The report was published in the Jan. 26 issue of the <em>Proceedings of the National Academy of Sciences</em>.<em></em></span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">On average, participants were 33 years old and made about $85,000 per year. About 1% earned $500,000 or more. Just over one-third were married (37%), and about two-thirds were women.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Real-time well-being reports were solicited randomly throughout the day. Participants were also asked how important money was to them; whether they equated money with success; whether they felt in control of their life; and how optimistic, financially insecure, and/or time-pressed they were.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">After stacking responses up against income, Killingsworth broadly found that the more money you make, the better you feel day-to-day and the more satisfied you are with life overall.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">He found no evidence of a ceiling in the relationship between money and happiness. Above $80,000 a year, larger incomes were associated with significantly higher levels of all positive feelings (confident, good, interested and proud) and significantly lower levels of negative feelings (bored, bad, sad, upset).</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">So are people on the short end of the economic stick doomed to a less happy existence?</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Not necessarily. While wealth matters, it\'s \"far from the most important thing,\" Killingsworth said.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">For one thing, while money can afford a sense of control, there\'s always an opportunity to find other ways to achieve the same end, he said. And some people say money just isn\'t that important to them.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">\"For those people, happiness is virtually unaffected by how much they earn,\" Killingsworth said. \"So it\'s possible that people who don\'t earn high salaries, but nevertheless craft lives that they enjoy, may find they don\'t actually miss having more money.\"</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\"><strong>A complex relationship</strong></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">The goal, he said, should be to keep money in perspective, because \"people are happiest when they don\'t equate money and success in life.\"</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">The findings came as little surprise to James Maddux, senior scholar with the Center for the Advancement of Well-Being at George Mason University, in Fairfax, Va.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">\"Research on the relationship between wealth and happiness, for individuals and nations, has been evolving for decades and has shown that the relationship is complex, as this study again demonstrates,\" Maddux noted.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">So Killingsworth\'s finding of a link between higher incomes and life satisfaction \"is not a radical take or an alternative \'school of thought,\'\" Maddux said. \"It\'s simply new information about a very complex research question.\"</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">And given the finding of a strong connection between a sense of control and well-being, Maddux offered some advice.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">\"Stop trying to become happier by buying more and more expensive stuff,\" he said, because that\'s the road to debt. \"And debt is detrimental to life satisfaction, partly because it leads to feelings of insecurity and loss of control.\"</span></p>\n<p>&nbsp;</p>\n</div>\n<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.usnews.com/news/health-news/articles/2021-01-21/maybe-money-can-help-buy-happiness-after-all\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','1428-autosave-v1','','','2021-04-16 20:01:15','2021-04-16 20:01:15','',1428,'http://smartinsurance.tips/1428-autosave-v1/',0,'revision','',0),(1497,1,'2021-04-20 17:21:10','2021-04-20 17:21:10','[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 bqrWOf Heading-sc-1w5xk2o-1 NJLrK\" size=\"5\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>7 Budgeting Templates to Take Control of Your Money</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Budget.jpg\" width=\"772\" height=\"516\" alt=\"\" class=\"wp-image-1426 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><span class=\"lede\">MONEY IS INTERTWINED IN </span>our everyday lives, and the way you manage it will greatly shape your future outcomes. Whether you’re trying to break the paycheck-to-paycheck cycle, get out of debt or build savings, a well-laid-out budget can help you reach your goals faster. By tracking your income against your expenses, a spending and savings plan can ensure you’re in control of your finances.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Think of a budget as the framework that keeps your financial house from falling down – it tells your money where to go to maintain daily expenses and reach various goals at the same time. A budget doesn’t mean you have to be restrictive, either. On the contrary, it allows you to control spending to ensure you can afford things that bring you joy.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">“A budget helps you reach your financial goals because it gives you a full understanding of your spending and saving,” says Jim Wang, founder of WalletHacks.com, a personal finance blog. “This helps you find areas where you can cut back on your spending so you can increase your savings elsewhere.”</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Americans may be more in need of a budget than ever before. In fact, a recent report from Clever found that 61% of consumers are living paycheck to paycheck and 38% have accumulated personal debts of $3,000 or more in the past year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Budgeting can often feel intimidating, but knowing how and where to start can alleviate some fear. Bobbi Rebell, certified financial planner and personal expert for Tally, a credit builder tool, says to start simple. “Look at your available income and write down your priorities, then work from there and see where you can make adjustments,” she says, adding that a notebook is a great place to jot down all your expenses and purchases to get better insight into your overall spending habits.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. Save time and hassle by using a pre-made budget worksheet. You can find templates where you manually enter your information for free or subscribe to a service which imports your financial data on a regular basis for effortless financial tracking.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Figuring out which one works best for you may require a little trial and error, but no matter which one you choose, beginning the process is the first step in the right direction.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Here’s a look at seven of the best budget spreadsheets to begin your journey to financial wellness:</span></p>\n</div>\n<p style=\"text-align: left;\"><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 fHKjHB\" style=\"text-align: left;\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></li>\n<li><span style=\"color: #0a0a0a;\">Google Sheets</span></li>\n<li><span style=\"color: #0a0a0a;\">Microsoft Excel</span></li>\n<li><span style=\"color: #0a0a0a;\">Vertex42</span></li>\n<li><span style=\"color: #0a0a0a;\">Tiller Money</span></li>\n<li><span style=\"color: #0a0a0a;\">Mint</span></li>\n<li><span style=\"color: #0a0a0a;\">Personal Capital</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></h3>\n</div>\n<div class=\"InartAd__FirstInartAdWrapper-sc-8wv8ky-0 kYlGEo sm-hide md-hide\" style=\"text-align: left;\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 bwWzQw\" spacing=\"4\"></div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Sometimes putting pen to paper helps you feel more connected to the habits you’re tracking, which makes the Monthly Budget Packet from TheBudgetMom.com a great resource for budgeting newbies, explains Rebel. This free printable provides a detailed income and expense tracking chart where you enter items like fixed and variable expenses, debt and savings. You even get a bill tracker and monthly spending chart, so you have plenty of options to test and see which works best for your money management needs and preferences.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Google Sheets</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Create a customized budget spreadsheet or grab a ready-to-go template through Google Sheets, which makes tracking finances easy. With an endless number of budgeting templates to choose from, you can find a tracking chart that fits your needs, whether you’re looking to manage your budget on a weekly or monthly basis, or a budgeting template for specific events such as a wedding or upcoming vacation. Google Sheets offers built-in categories along with formulas that make calculating expenses against income effortless. Some even come with pre-formulated charts and graphs that allow you to visualize your overall financial picture. Other features include filtering expenses by category and even sending queries about certain purchases directly to your partner’s email through the spreadsheet. Another benefit of using Google Sheets is that it’s easy to share with family members, and you can access it across multiple devices if you save it in Google Drive.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 erSrIv fFwDTg\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Microsoft Excel</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">If you have Microsoft Office, look no further than Microsoft Excel for your budgeting needs. With a suite of budgeting templates designed to fit many different financial needs, from personal family expenses to basic monthly budgeting to more specific financial tracking for holidays, weddings, vacations and more, there is something for everyone. If you prefer to create your own customized template, basic Excel skills will get the job done.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Vertex42</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">This site offers a range of monthly budget templates built for Excel users, all for free. Choose among a variety of spreadsheets, from income and expense tracking to personal monthly budgets to wedding budgets and more. For those who need help managing spending on a day-to-day basis, the Budget Calendar Template allows you to track expenses using a calendar format, showing you when monthly bills need to be paid. It includes daily account balances to help you avoid overdrafting your account. Before you download any template, you can click on the link of the budgeting worksheet for a full description and screenshot of the layout to see if it will work for you.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Tiller Money</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Entering your own financial data into a budget spreadsheet can be tedious and ultimately deter you from tracking your finances, but that’s where Tiller Money comes in. The site streamlines your financial accounts and automatically updates a budget template in Google Sheets or Microsoft Excel with your spending, income and balances each day. This helps take the work out of tracking your finances, which is a hurdle many people face in taking control of their money, Wang says. You can create your own budget spreadsheet or use an existing template, which gives you more flexibility to format the budget to meet your personal needs. After a free 30-day trial, Tiller Money is $79 a year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Mint</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Though the Mint app takes budgeting one step further by streamlining your digital financial accounts in one place, you can also find budget templates designed through Excel on Mint\'s website with custom options to suit different life stages. For instance, college students can use the college budget template to create a financial tracking chart customized to their needs. Meanwhile, a new parent might find the day care budget template helpful in managing all the new expenses that come with having a baby.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Personal Capital</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">When your finances become a bit more complicated and you have multiple investment accounts and income sources, a basic budgeting template may not be enough to optimize your money management. In this case, Personal Capital may provide a better solution for your budgeting needs. Link all your financial accounts through its personalized dashboard to get a snapshot of your total financial picture. In addition to monitoring your spending, investments, savings and other goals, you can also track your net worth through this dashboard.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Budgeting may feel overwhelming at first, but it’s an easy financial skill to master once you get started. You just need to find a template that fits your money needs – and stick with it until it becomes a habit.</span></p>\n<p>&nbsp;</p>\n</div>\n<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://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/budgeting-templates-to-take-control-of-your-money\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','7 Budgeting Templates to Take Control of Your Money','','inherit','closed','closed','','1421-revision-v1','','','2021-04-20 17:21:10','2021-04-20 17:21:10','',1421,'http://smartinsurance.tips/1421-revision-v1/',0,'revision','',0),(1498,1,'2021-04-20 17:23:20','2021-04-20 17:23:20','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"][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 bqrWOf Heading-sc-1w5xk2o-1 NJLrK\" size=\"5\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>7 Budgeting Templates to Take Control of Your Money</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Budget.jpg\" width=\"772\" height=\"516\" alt=\"\" class=\"wp-image-1426 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><span class=\"lede\">MONEY IS INTERTWINED IN </span>our everyday lives, and the way you manage it will greatly shape your future outcomes. Whether you’re trying to break the paycheck-to-paycheck cycle, get out of debt or build savings, a well-laid-out budget can help you reach your goals faster. By tracking your income against your expenses, a spending and savings plan can ensure you’re in control of your finances.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Think of a budget as the framework that keeps your financial house from falling down – it tells your money where to go to maintain daily expenses and reach various goals at the same time. A budget doesn’t mean you have to be restrictive, either. On the contrary, it allows you to control spending to ensure you can afford things that bring you joy.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">“A budget helps you reach your financial goals because it gives you a full understanding of your spending and saving,” says Jim Wang, founder of WalletHacks.com, a personal finance blog. “This helps you find areas where you can cut back on your spending so you can increase your savings elsewhere.”</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Americans may be more in need of a budget than ever before. In fact, a recent report from Clever found that 61% of consumers are living paycheck to paycheck and 38% have accumulated personal debts of $3,000 or more in the past year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Budgeting can often feel intimidating, but knowing how and where to start can alleviate some fear. Bobbi Rebell, certified financial planner and personal expert for Tally, a credit builder tool, says to start simple. “Look at your available income and write down your priorities, then work from there and see where you can make adjustments,” she says, adding that a notebook is a great place to jot down all your expenses and purchases to get better insight into your overall spending habits.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. Save time and hassle by using a pre-made budget worksheet. You can find templates where you manually enter your information for free or subscribe to a service which imports your financial data on a regular basis for effortless financial tracking.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Figuring out which one works best for you may require a little trial and error, but no matter which one you choose, beginning the process is the first step in the right direction.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Here’s a look at seven of the best budget spreadsheets to begin your journey to financial wellness:</span></p>\n</div>\n<p style=\"text-align: left;\"><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 fHKjHB\" style=\"text-align: left;\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></li>\n<li><span style=\"color: #0a0a0a;\">Google Sheets</span></li>\n<li><span style=\"color: #0a0a0a;\">Microsoft Excel</span></li>\n<li><span style=\"color: #0a0a0a;\">Vertex42</span></li>\n<li><span style=\"color: #0a0a0a;\">Tiller Money</span></li>\n<li><span style=\"color: #0a0a0a;\">Mint</span></li>\n<li><span style=\"color: #0a0a0a;\">Personal Capital</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></h3>\n</div>\n<div class=\"InartAd__FirstInartAdWrapper-sc-8wv8ky-0 kYlGEo sm-hide md-hide\" style=\"text-align: left;\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 bwWzQw\" spacing=\"4\"></div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Sometimes putting pen to paper helps you feel more connected to the habits you’re tracking, which makes the Monthly Budget Packet from TheBudgetMom.com a great resource for budgeting newbies, explains Rebel. This free printable provides a detailed income and expense tracking chart where you enter items like fixed and variable expenses, debt and savings. You even get a bill tracker and monthly spending chart, so you have plenty of options to test and see which works best for your money management needs and preferences.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Google Sheets</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Create a customized budget spreadsheet or grab a ready-to-go template through Google Sheets, which makes tracking finances easy. With an endless number of budgeting templates to choose from, you can find a tracking chart that fits your needs, whether you’re looking to manage your budget on a weekly or monthly basis, or a budgeting template for specific events such as a wedding or upcoming vacation. Google Sheets offers built-in categories along with formulas that make calculating expenses against income effortless. Some even come with pre-formulated charts and graphs that allow you to visualize your overall financial picture. Other features include filtering expenses by category and even sending queries about certain purchases directly to your partner’s email through the spreadsheet. Another benefit of using Google Sheets is that it’s easy to share with family members, and you can access it across multiple devices if you save it in Google Drive.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 erSrIv fFwDTg\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Microsoft Excel</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">If you have Microsoft Office, look no further than Microsoft Excel for your budgeting needs. With a suite of budgeting templates designed to fit many different financial needs, from personal family expenses to basic monthly budgeting to more specific financial tracking for holidays, weddings, vacations and more, there is something for everyone. If you prefer to create your own customized template, basic Excel skills will get the job done.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Vertex42</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">This site offers a range of monthly budget templates built for Excel users, all for free. Choose among a variety of spreadsheets, from income and expense tracking to personal monthly budgets to wedding budgets and more. For those who need help managing spending on a day-to-day basis, the Budget Calendar Template allows you to track expenses using a calendar format, showing you when monthly bills need to be paid. It includes daily account balances to help you avoid overdrafting your account. Before you download any template, you can click on the link of the budgeting worksheet for a full description and screenshot of the layout to see if it will work for you.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Tiller Money</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Entering your own financial data into a budget spreadsheet can be tedious and ultimately deter you from tracking your finances, but that’s where Tiller Money comes in. The site streamlines your financial accounts and automatically updates a budget template in Google Sheets or Microsoft Excel with your spending, income and balances each day. This helps take the work out of tracking your finances, which is a hurdle many people face in taking control of their money, Wang says. You can create your own budget spreadsheet or use an existing template, which gives you more flexibility to format the budget to meet your personal needs. After a free 30-day trial, Tiller Money is $79 a year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Mint</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Though the Mint app takes budgeting one step further by streamlining your digital financial accounts in one place, you can also find budget templates designed through Excel on Mint\'s website with custom options to suit different life stages. For instance, college students can use the college budget template to create a financial tracking chart customized to their needs. Meanwhile, a new parent might find the day care budget template helpful in managing all the new expenses that come with having a baby.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Personal Capital</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">When your finances become a bit more complicated and you have multiple investment accounts and income sources, a basic budgeting template may not be enough to optimize your money management. In this case, Personal Capital may provide a better solution for your budgeting needs. Link all your financial accounts through its personalized dashboard to get a snapshot of your total financial picture. In addition to monitoring your spending, investments, savings and other goals, you can also track your net worth through this dashboard.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Budgeting may feel overwhelming at first, but it’s an easy financial skill to master once you get started. You just need to find a template that fits your money needs – and stick with it until it becomes a habit.</span></p>\n<p>&nbsp;</p>\n</div>\n<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://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/budgeting-templates-to-take-control-of-your-money\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','7 Budgeting Templates to Take Control of Your Money','','inherit','closed','closed','','1421-revision-v1','','','2021-04-20 17:23:20','2021-04-20 17:23:20','',1421,'http://smartinsurance.tips/1421-revision-v1/',0,'revision','',0),(1499,1,'2021-04-20 17:23:33','2021-04-20 17:23:33','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"][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 bqrWOf Heading-sc-1w5xk2o-1 NJLrK\" size=\"5\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>7 Budgeting Templates to Take Control of Your Money</strong></span></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 style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Budget.jpg\" width=\"772\" height=\"516\" alt=\"\" class=\"wp-image-1426 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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>&nbsp;</p>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"><span class=\"lede\">MONEY IS INTERTWINED IN </span>our everyday lives, and the way you manage it will greatly shape your future outcomes. Whether you’re trying to break the paycheck-to-paycheck cycle, get out of debt or build savings, a well-laid-out budget can help you reach your goals faster. By tracking your income against your expenses, a spending and savings plan can ensure you’re in control of your finances.</span></p>\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Think of a budget as the framework that keeps your financial house from falling down – it tells your money where to go to maintain daily expenses and reach various goals at the same time. A budget doesn’t mean you have to be restrictive, either. On the contrary, it allows you to control spending to ensure you can afford things that bring you joy.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">“A budget helps you reach your financial goals because it gives you a full understanding of your spending and saving,” says Jim Wang, founder of WalletHacks.com, a personal finance blog. “This helps you find areas where you can cut back on your spending so you can increase your savings elsewhere.”</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Americans may be more in need of a budget than ever before. In fact, a recent report from Clever found that 61% of consumers are living paycheck to paycheck and 38% have accumulated personal debts of $3,000 or more in the past year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Budgeting can often feel intimidating, but knowing how and where to start can alleviate some fear. Bobbi Rebell, certified financial planner and personal expert for Tally, a credit builder tool, says to start simple. “Look at your available income and write down your priorities, then work from there and see where you can make adjustments,” she says, adding that a notebook is a great place to jot down all your expenses and purchases to get better insight into your overall spending habits.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. Save time and hassle by using a pre-made budget worksheet. You can find templates where you manually enter your information for free or subscribe to a service which imports your financial data on a regular basis for effortless financial tracking.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Figuring out which one works best for you may require a little trial and error, but no matter which one you choose, beginning the process is the first step in the right direction.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Here’s a look at seven of the best budget spreadsheets to begin your journey to financial wellness:</span></p>\n</div>\n<p style=\"text-align: left;\"><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 fHKjHB\" style=\"text-align: left;\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></li>\n<li><span style=\"color: #0a0a0a;\">Google Sheets</span></li>\n<li><span style=\"color: #0a0a0a;\">Microsoft Excel</span></li>\n<li><span style=\"color: #0a0a0a;\">Vertex42</span></li>\n<li><span style=\"color: #0a0a0a;\">Tiller Money</span></li>\n<li><span style=\"color: #0a0a0a;\">Mint</span></li>\n<li><span style=\"color: #0a0a0a;\">Personal Capital</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></h3>\n</div>\n<div class=\"InartAd__FirstInartAdWrapper-sc-8wv8ky-0 kYlGEo sm-hide md-hide\" style=\"text-align: left;\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 bwWzQw\" spacing=\"4\"></div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Sometimes putting pen to paper helps you feel more connected to the habits you’re tracking, which makes the Monthly Budget Packet from TheBudgetMom.com a great resource for budgeting newbies, explains Rebel. This free printable provides a detailed income and expense tracking chart where you enter items like fixed and variable expenses, debt and savings. You even get a bill tracker and monthly spending chart, so you have plenty of options to test and see which works best for your money management needs and preferences.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Google Sheets</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Create a customized budget spreadsheet or grab a ready-to-go template through Google Sheets, which makes tracking finances easy. With an endless number of budgeting templates to choose from, you can find a tracking chart that fits your needs, whether you’re looking to manage your budget on a weekly or monthly basis, or a budgeting template for specific events such as a wedding or upcoming vacation. Google Sheets offers built-in categories along with formulas that make calculating expenses against income effortless. Some even come with pre-formulated charts and graphs that allow you to visualize your overall financial picture. Other features include filtering expenses by category and even sending queries about certain purchases directly to your partner’s email through the spreadsheet. Another benefit of using Google Sheets is that it’s easy to share with family members, and you can access it across multiple devices if you save it in Google Drive.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 erSrIv fFwDTg\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Microsoft Excel</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">If you have Microsoft Office, look no further than Microsoft Excel for your budgeting needs. With a suite of budgeting templates designed to fit many different financial needs, from personal family expenses to basic monthly budgeting to more specific financial tracking for holidays, weddings, vacations and more, there is something for everyone. If you prefer to create your own customized template, basic Excel skills will get the job done.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Vertex42</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">This site offers a range of monthly budget templates built for Excel users, all for free. Choose among a variety of spreadsheets, from income and expense tracking to personal monthly budgets to wedding budgets and more. For those who need help managing spending on a day-to-day basis, the Budget Calendar Template allows you to track expenses using a calendar format, showing you when monthly bills need to be paid. It includes daily account balances to help you avoid overdrafting your account. Before you download any template, you can click on the link of the budgeting worksheet for a full description and screenshot of the layout to see if it will work for you.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Tiller Money</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Entering your own financial data into a budget spreadsheet can be tedious and ultimately deter you from tracking your finances, but that’s where Tiller Money comes in. The site streamlines your financial accounts and automatically updates a budget template in Google Sheets or Microsoft Excel with your spending, income and balances each day. This helps take the work out of tracking your finances, which is a hurdle many people face in taking control of their money, Wang says. You can create your own budget spreadsheet or use an existing template, which gives you more flexibility to format the budget to meet your personal needs. After a free 30-day trial, Tiller Money is $79 a year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Mint</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">Though the Mint app takes budgeting one step further by streamlining your digital financial accounts in one place, you can also find budget templates designed through Excel on Mint\'s website with custom options to suit different life stages. For instance, college students can use the college budget template to create a financial tracking chart customized to their needs. Meanwhile, a new parent might find the day care budget template helpful in managing all the new expenses that come with having a baby.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Personal Capital</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\" style=\"text-align: left;\">\n<p><span style=\"color: #0a0a0a;\">When your finances become a bit more complicated and you have multiple investment accounts and income sources, a basic budgeting template may not be enough to optimize your money management. In this case, Personal Capital may provide a better solution for your budgeting needs. Link all your financial accounts through its personalized dashboard to get a snapshot of your total financial picture. In addition to monitoring your spending, investments, savings and other goals, you can also track your net worth through this dashboard.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">Budgeting may feel overwhelming at first, but it’s an easy financial skill to master once you get started. You just need to find a template that fits your money needs – and stick with it until it becomes a habit.</span></p>\n<p>&nbsp;</p>\n</div>\n<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://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/budgeting-templates-to-take-control-of-your-money\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','7 Budgeting Templates to Take Control of Your Money','','inherit','closed','closed','','1421-revision-v1','','','2021-04-20 17:23:33','2021-04-20 17:23:33','',1421,'http://smartinsurance.tips/1421-revision-v1/',0,'revision','',0),(1500,1,'2021-04-20 19:22:02','2021-04-20 19:22:02','[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-title entry-title\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>7 Budgeting Templates to Take Control of Your Money</strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Budget.jpg\" width=\"772\" height=\"516\" alt=\"\" class=\"wp-image-1426 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: left;\"></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 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"> </span></p>\n<div align=\"center\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\"><span class=\"lede\">MONEY IS INTERTWINED IN </span>our everyday lives, and the way you manage it will greatly shape your future outcomes. Whether you’re trying to break the paycheck-to-paycheck cycle, get out of debt or build savings, a well-laid-out budget can help you reach your goals faster. By tracking your income against your expenses, a spending and savings plan can ensure you’re in control of your finances.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Think of a budget as the framework that keeps your financial house from falling down – it tells your money where to go to maintain daily expenses and reach various goals at the same time. A budget doesn’t mean you have to be restrictive, either. On the contrary, it allows you to control spending to ensure you can afford things that bring you joy.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">“A budget helps you reach your financial goals because it gives you a full understanding of your spending and saving,” says Jim Wang, founder of WalletHacks.com, a personal finance blog. “This helps you find areas where you can cut back on your spending so you can increase your savings elsewhere.”</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Americans may be more in need of a budget than ever before. In fact, a recent report from Clever found that 61% of consumers are living paycheck to paycheck and 38% have accumulated personal debts of $3,000 or more in the past year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Budgeting can often feel intimidating, but knowing how and where to start can alleviate some fear. Bobbi Rebell, certified financial planner and personal expert for Tally, a credit builder tool, says to start simple. “Look at your available income and write down your priorities, then work from there and see where you can make adjustments,” she says, adding that a notebook is a great place to jot down all your expenses and purchases to get better insight into your overall spending habits.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. Save time and hassle by using a pre-made budget worksheet. You can find templates where you manually enter your information for free or subscribe to a service which imports your financial data on a regular basis for effortless financial tracking.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Figuring out which one works best for you may require a little trial and error, but no matter which one you choose, beginning the process is the first step in the right direction.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Here’s a look at seven of the best budget spreadsheets to begin your journey to financial wellness:</span></p>\n</div>\n<p><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 fHKjHB\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></li>\n<li><span style=\"color: #0a0a0a;\">Google Sheets</span></li>\n<li><span style=\"color: #0a0a0a;\">Microsoft Excel</span></li>\n<li><span style=\"color: #0a0a0a;\">Vertex42</span></li>\n<li><span style=\"color: #0a0a0a;\">Tiller Money</span></li>\n<li><span style=\"color: #0a0a0a;\">Mint</span></li>\n<li><span style=\"color: #0a0a0a;\">Personal Capital</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></h3>\n</div>\n<div class=\"InartAd__FirstInartAdWrapper-sc-8wv8ky-0 kYlGEo sm-hide md-hide\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 bwWzQw\" spacing=\"4\"></div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Sometimes putting pen to paper helps you feel more connected to the habits you’re tracking, which makes the Monthly Budget Packet from TheBudgetMom.com a great resource for budgeting newbies, explains Rebel. This free printable provides a detailed income and expense tracking chart where you enter items like fixed and variable expenses, debt and savings. You even get a bill tracker and monthly spending chart, so you have plenty of options to test and see which works best for your money management needs and preferences.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Google Sheets</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Create a customized budget spreadsheet or grab a ready-to-go template through Google Sheets, which makes tracking finances easy. With an endless number of budgeting templates to choose from, you can find a tracking chart that fits your needs, whether you’re looking to manage your budget on a weekly or monthly basis, or a budgeting template for specific events such as a wedding or upcoming vacation. Google Sheets offers built-in categories along with formulas that make calculating expenses against income effortless. Some even come with pre-formulated charts and graphs that allow you to visualize your overall financial picture. Other features include filtering expenses by category and even sending queries about certain purchases directly to your partner’s email through the spreadsheet. Another benefit of using Google Sheets is that it’s easy to share with family members, and you can access it across multiple devices if you save it in Google Drive.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 erSrIv fFwDTg\">\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Microsoft Excel</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">If you have Microsoft Office, look no further than Microsoft Excel for your budgeting needs. With a suite of budgeting templates designed to fit many different financial needs, from personal family expenses to basic monthly budgeting to more specific financial tracking for holidays, weddings, vacations and more, there is something for everyone. If you prefer to create your own customized template, basic Excel skills will get the job done.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Vertex42</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">This site offers a range of monthly budget templates built for Excel users, all for free. Choose among a variety of spreadsheets, from income and expense tracking to personal monthly budgets to wedding budgets and more. For those who need help managing spending on a day-to-day basis, the Budget Calendar Template allows you to track expenses using a calendar format, showing you when monthly bills need to be paid. It includes daily account balances to help you avoid overdrafting your account. Before you download any template, you can click on the link of the budgeting worksheet for a full description and screenshot of the layout to see if it will work for you.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Tiller Money</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Entering your own financial data into a budget spreadsheet can be tedious and ultimately deter you from tracking your finances, but that’s where Tiller Money comes in. The site streamlines your financial accounts and automatically updates a budget template in Google Sheets or Microsoft Excel with your spending, income and balances each day. This helps take the work out of tracking your finances, which is a hurdle many people face in taking control of their money, Wang says. You can create your own budget spreadsheet or use an existing template, which gives you more flexibility to format the budget to meet your personal needs. After a free 30-day trial, Tiller Money is $79 a year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Mint</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Though the Mint app takes budgeting one step further by streamlining your digital financial accounts in one place, you can also find budget templates designed through Excel on Mint’s website with custom options to suit different life stages. For instance, college students can use the college budget template to create a financial tracking chart customized to their needs. Meanwhile, a new parent might find the day care budget template helpful in managing all the new expenses that come with having a baby.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Personal Capital</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">When your finances become a bit more complicated and you have multiple investment accounts and income sources, a basic budgeting template may not be enough to optimize your money management. In this case, Personal Capital may provide a better solution for your budgeting needs. Link all your financial accounts through its personalized dashboard to get a snapshot of your total financial picture. In addition to monitoring your spending, investments, savings and other goals, you can also track your net worth through this dashboard.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Budgeting may feel overwhelming at first, but it’s an easy financial skill to master once you get started. You just need to find a template that fits your money needs – and stick with it until it becomes a habit.</span></p>\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To read the full article, <span style=\"color: #e09900;\"><a href=\"https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/budgeting-templates-to-take-control-of-your-money\" style=\"color: #e09900;\">click here</a></span>.</span></div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','7 Budgeting Templates to Take Control of your Money','','publish','closed','closed','','7-budgeting-templates-to-take-control-of-your-money','','','2021-04-20 19:25:25','2021-04-20 19:25:25','',0,'http://smartinsurance.tips/?page_id=1500',0,'page','',0),(1501,1,'2021-04-20 19:22:02','2021-04-20 19:22:02','<!-- wp:divi/placeholder /-->','7 Budgeting Templates to Take Control of your Money','','inherit','closed','closed','','1500-revision-v1','','','2021-04-20 19:22:02','2021-04-20 19:22:02','',1500,'http://smartinsurance.tips/1500-revision-v1/',0,'revision','',0),(1507,1,'2021-05-12 22:54:02','2021-05-12 22:54:02','<!-- wp:divi/placeholder /-->','How to Make a Personal Budget in 6 Easy Steps','','inherit','closed','closed','','1506-revision-v1','','','2021-05-12 22:54:02','2021-05-12 22:54:02','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1510,1,'2021-05-20 21:06:56','2021-05-20 21:06:56','','My Post (2)','','inherit','open','closed','','my-post-2-2','','','2021-05-20 21:06:56','2021-05-20 21:06:56','',0,'http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2.png',0,'attachment','image/png',0),(1503,1,'2021-04-20 19:25:10','2021-04-20 19:25:10','[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-title entry-title\" style=\"text-align: center;\"><span style=\"color: #0c0c0c;\"><strong>7 Budgeting Templates to Take Control of Your Money</strong></span></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;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Budget.jpg\" width=\"772\" height=\"516\" alt=\"\" class=\"wp-image-1426 aligncenter size-full\" /></span></p>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: left;\"></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 style=\"text-align: left;\"><span style=\"color: #0a0a0a;\"> </span></p>\n<div align=\"center\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\"><span class=\"lede\">MONEY IS INTERTWINED IN </span>our everyday lives, and the way you manage it will greatly shape your future outcomes. Whether you’re trying to break the paycheck-to-paycheck cycle, get out of debt or build savings, a well-laid-out budget can help you reach your goals faster. By tracking your income against your expenses, a spending and savings plan can ensure you’re in control of your finances.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Think of a budget as the framework that keeps your financial house from falling down – it tells your money where to go to maintain daily expenses and reach various goals at the same time. A budget doesn’t mean you have to be restrictive, either. On the contrary, it allows you to control spending to ensure you can afford things that bring you joy.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">“A budget helps you reach your financial goals because it gives you a full understanding of your spending and saving,” says Jim Wang, founder of WalletHacks.com, a personal finance blog. “This helps you find areas where you can cut back on your spending so you can increase your savings elsewhere.”</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Americans may be more in need of a budget than ever before. In fact, a recent report from Clever found that 61% of consumers are living paycheck to paycheck and 38% have accumulated personal debts of $3,000 or more in the past year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Budgeting can often feel intimidating, but knowing how and where to start can alleviate some fear. Bobbi Rebell, certified financial planner and personal expert for Tally, a credit builder tool, says to start simple. “Look at your available income and write down your priorities, then work from there and see where you can make adjustments,” she says, adding that a notebook is a great place to jot down all your expenses and purchases to get better insight into your overall spending habits.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. Save time and hassle by using a pre-made budget worksheet. You can find templates where you manually enter your information for free or subscribe to a service which imports your financial data on a regular basis for effortless financial tracking.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Figuring out which one works best for you may require a little trial and error, but no matter which one you choose, beginning the process is the first step in the right direction.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Here’s a look at seven of the best budget spreadsheets to begin your journey to financial wellness:</span></p>\n</div>\n<p><react-trigger trigger=\"view\"></react-trigger></p>\n<div class=\"ArticleBodyRawList__ListContainer-sc-18hlulv-0 fHKjHB\">\n<ul>\n<li><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></li>\n<li><span style=\"color: #0a0a0a;\">Google Sheets</span></li>\n<li><span style=\"color: #0a0a0a;\">Microsoft Excel</span></li>\n<li><span style=\"color: #0a0a0a;\">Vertex42</span></li>\n<li><span style=\"color: #0a0a0a;\">Tiller Money</span></li>\n<li><span style=\"color: #0a0a0a;\">Mint</span></li>\n<li><span style=\"color: #0a0a0a;\">Personal Capital</span></li>\n</ul>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">The Budget Mom’s Budget Packet</span></h3>\n</div>\n<div class=\"InartAd__FirstInartAdWrapper-sc-8wv8ky-0 kYlGEo sm-hide md-hide\">\n<div class=\"Ad__Container-sc-1ah7c5n-0 bwWzQw\" spacing=\"4\"></div>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Sometimes putting pen to paper helps you feel more connected to the habits you’re tracking, which makes the Monthly Budget Packet from TheBudgetMom.com a great resource for budgeting newbies, explains Rebel. This free printable provides a detailed income and expense tracking chart where you enter items like fixed and variable expenses, debt and savings. You even get a bill tracker and monthly spending chart, so you have plenty of options to test and see which works best for your money management needs and preferences.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Google Sheets</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Create a customized budget spreadsheet or grab a ready-to-go template through Google Sheets, which makes tracking finances easy. With an endless number of budgeting templates to choose from, you can find a tracking chart that fits your needs, whether you’re looking to manage your budget on a weekly or monthly basis, or a budgeting template for specific events such as a wedding or upcoming vacation. Google Sheets offers built-in categories along with formulas that make calculating expenses against income effortless. Some even come with pre-formulated charts and graphs that allow you to visualize your overall financial picture. Other features include filtering expenses by category and even sending queries about certain purchases directly to your partner’s email through the spreadsheet. Another benefit of using Google Sheets is that it’s easy to share with family members, and you can access it across multiple devices if you save it in Google Drive.</span></p>\n</div>\n<div spacing=\"4\" class=\"Box-w0dun1-0 AnchorBlock__AnchorWrapper-sc-1ktbrp2-0 erSrIv fFwDTg\">\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Microsoft Excel</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">If you have Microsoft Office, look no further than Microsoft Excel for your budgeting needs. With a suite of budgeting templates designed to fit many different financial needs, from personal family expenses to basic monthly budgeting to more specific financial tracking for holidays, weddings, vacations and more, there is something for everyone. If you prefer to create your own customized template, basic Excel skills will get the job done.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Vertex42</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">This site offers a range of monthly budget templates built for Excel users, all for free. Choose among a variety of spreadsheets, from income and expense tracking to personal monthly budgets to wedding budgets and more. For those who need help managing spending on a day-to-day basis, the Budget Calendar Template allows you to track expenses using a calendar format, showing you when monthly bills need to be paid. It includes daily account balances to help you avoid overdrafting your account. Before you download any template, you can click on the link of the budgeting worksheet for a full description and screenshot of the layout to see if it will work for you.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Tiller Money</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Entering your own financial data into a budget spreadsheet can be tedious and ultimately deter you from tracking your finances, but that’s where Tiller Money comes in. The site streamlines your financial accounts and automatically updates a budget template in Google Sheets or Microsoft Excel with your spending, income and balances each day. This helps take the work out of tracking your finances, which is a hurdle many people face in taking control of their money, Wang says. You can create your own budget spreadsheet or use an existing template, which gives you more flexibility to format the budget to meet your personal needs. After a free 30-day trial, Tiller Money is $79 a year.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Mint</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Though the Mint app takes budgeting one step further by streamlining your digital financial accounts in one place, you can also find budget templates designed through Excel on Mint’s website with custom options to suit different life stages. For instance, college students can use the college budget template to create a financial tracking chart customized to their needs. Meanwhile, a new parent might find the day care budget template helpful in managing all the new expenses that come with having a baby.</span></p>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<h3 class=\"heading-large\"><span style=\"color: #0a0a0a;\">Personal Capital</span></h3>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">When your finances become a bit more complicated and you have multiple investment accounts and income sources, a basic budgeting template may not be enough to optimize your money management. In this case, Personal Capital may provide a better solution for your budgeting needs. Link all your financial accounts through its personalized dashboard to get a snapshot of your total financial picture. In addition to monitoring your spending, investments, savings and other goals, you can also track your net worth through this dashboard.</span></p>\n</div>\n<div size=\"5\" spacing=\"4\" class=\"Raw-slyvem-0 iyvmNz\">\n<p><span style=\"color: #0a0a0a;\">Budgeting may feel overwhelming at first, but it’s an easy financial skill to master once you get started. You just need to find a template that fits your money needs – and stick with it until it becomes a habit.</span></p>\n<p><span style=\"color: #0a0a0a;\"> </span></p>\n</div>\n<p><span style=\"color: #0a0a0a;\"></span></p>\n</div>\n</div>\n<div align=\"center\" style=\"text-align: left;\"><span style=\"color: #0a0a0a;\">To read the full article, <span style=\"color: #e09900;\"><a href=\"https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/budgeting-templates-to-take-control-of-your-money\" style=\"color: #e09900;\">click here</a></span>.</span></div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','7 Budgeting Templates to Take Control of your Money','','inherit','closed','closed','','1500-revision-v1','','','2021-04-20 19:25:10','2021-04-20 19:25:10','',1500,'http://smartinsurance.tips/1500-revision-v1/',0,'revision','',0),(1527,1,'2021-05-20 21:45:39','2021-05-20 21:45:39','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\" min_height=\"4321px\"][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_3-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_3-0\" class=\"comp article-heading__highlight mntl-text-block\" style=\"color: #000000;\">How to Make a Personal Budget in 6 Easy Steps</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\" custom_padding=\"||0px|||\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1510 aligncenter size-large\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"article-subheading_4-0\" class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\">A step-by-step guide to creating and using a budget</span></h2>\n<p><span style=\"color: #000000;\"></span></p>\n<p id=\"mntl-sc-block_1-0\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you want to control your spending and work toward your financial goals, you need a budget.</span></p>\n<div id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_20-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A personal or household budget is a summary that compares and tracks your income and expenses for a defined period, typically one month.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-7\">1</span> While the word \"budget\" is often associated with restricted spending, a budget does not have to be restrictive to be effective.</span></p>\n<div id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_21-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A budget will show you how much money you expect to bring in, then compare that to your required expenses—such as rent and insurance—and your discretionary spending, such as entertainment or eating out. Instead of viewing a budget as a negative, you can view it as a tool for achieving your financial goals.</span></p>\n<div id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_22-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What a Budget Does</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A written, monthly budget is a financial planning tool that allows you to plan how much you will spend or save each month. It also allows you to track your spending habits.</span></p>\n<div id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_23-0\" class=\"comp mntl-block\">\n<div id=\"mntl-native_4-0\" class=\"comp mntl-native\">\n<div id=\"native-placeholder_4-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Though making a budget may not sound like the most exciting activity (and for some, it\'s downright scary), it\'s an important part of keeping your financial house in order. That\'s because budgets rely on balance. If you spend less in one area, you can spend more in another, save that money for a large purchase, build a \"rainy day\" fund, increase your savings, or invest in building wealth.</span></p>\n<div id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_24-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-experttipimportant 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><span style=\"color: #000000;\">A budget only works if you are honest about both your income and expenses. To make an effective budget, you must be willing to work with detailed and accurate information about your earning and spending habits.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Ultimately, the result of your new budget will show you where your money is coming from, how much is there, and where it all goes each month.</span></p>\n<div id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_25-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Make a Budget in Six Simple Steps</span></h2>\n<p id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">To create a budget that works and allows you live a comfortable and happy life, you need to get a firm handle on what you’re currently spending, what you can afford to spend, and what your priorities are.</span></p>\n<div id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_26-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you embark on making a budget, find a good template you can use to fill in the numbers for your expenses and income.</span></p>\n<div id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_27-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-9\" 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><span style=\"color: #000000;\">While you can use old-fashioned pen and paper to budget your money, it\'s easier and more efficient to use a monthly budget spreadsheet or a budgeting app. These will contain designated fields for income and expenses in various categories, as well as built-in formulas to help you figure your budget surplus or shortfall with minimal effort.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">1. Gather Your Financial Paperwork</span></h3>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you begin, gather up all your financial statements, including:</span></p>\n<div id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Bank statements</span></li>\n<li><span style=\"color: #000000;\">Investment accounts</span></li>\n<li><span style=\"color: #000000;\">Recent utility bills</span></li>\n<li><span style=\"color: #000000;\">W-2s and paystubs</span></li>\n<li><span style=\"color: #000000;\">1099s</span></li>\n<li><span style=\"color: #000000;\">Credit card bills</span></li>\n<li><span style=\"color: #000000;\">Receipts from the last three months</span></li>\n<li><span style=\"color: #000000;\">Mortgage or auto loan statements</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">You want to have access to any information about your income and expenses. One of the keys to the budget-making process is to create a monthly average. The more information you can dig up, the better.</span></p>\n<div id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">2. Calculate Your Income</span></h3>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">How much income can you expect each month? If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income (or take-home pay) amount is fine. If you are self-employed or have outside sources of income, such as child support or Social Security, include these as well. Record this total income as a monthly amount.</span></p>\n<div id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-16\" 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><span style=\"color: #000000;\">If you have a variable income (for example, from a seasonal or freelance job), consider using the income from your lowest-earning month in the past year as your baseline income when you set up your budget.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">3. Create a List of Monthly Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Write down a list of all the expenses you expect to have during a month. This list could include:</span></p>\n<div id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Mortgage payments or rent</span></li>\n<li><span style=\"color: #000000;\">Car payments</span></li>\n<li><span style=\"color: #000000;\">Insurance</span></li>\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Utilities</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Personal care</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Childcare</span></li>\n<li><span style=\"color: #000000;\">Transportation costs</span></li>\n<li><span style=\"color: #000000;\">Travel</span></li>\n<li><span style=\"color: #000000;\">Student loans</span></li>\n<li><span style=\"color: #000000;\">Savings</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Use your bank statements, receipts, and credit card statements from the last three months to identify all your spending.</span></p>\n<div id=\"mntl-sc-block_2-0-37\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">4. Determine Fixed and Variable Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Fixed expenses are those mandatory expenses that you pay the same amount for each time.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-10\">2</span> Include items like mortgage or rent payments, car payments, set-fee internet service, trash pickup, and regular childcare. If you pay a standard credit card payment, include that amount and any other essential spending that tends to stay the same from month to month.</span></p>\n<div id=\"mntl-sc-block_2-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you plan to save a fixed amount or pay off a certain amount of debt each month, also include savings and debt repayment as fixed expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Variable expenses are the type that will change from month to month, such as:</span></p>\n<div id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-25\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Gasoline</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Gifts<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-11\">3</span></span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-26\" 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_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you don\'t have an emergency fund, include a category for \"surprise expenses\" that might pop up over the month and derail your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Start assigning a spending value to each category, beginning with your fixed expenses. Then, estimate how much you\'ll need to spend per month on variable expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re not sure how much you spend in each category, review your last two or three months of credit card or bank transactions to make a rough estimate.</span></p>\n<div id=\"mntl-sc-block_2-0-51\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">5. Total Your Monthly Income and Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your income is higher than your expenses, you are off to a good start. This extra money means you can put funds towards areas of your budget, such as retirement savings or paying off debt.</span></p>\n<div id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-55\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-31\" 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_1-0-4\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you have more income than expenses, consider adopting the “50-30-20” budgeting philosophy. In a 50-30-20 budget, \"needs,\" or essential expenses, should represent half of your budget, wants should make up another 30%, and savings and debt repayment should make up the final 20% of your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your expenses are more than your income, that means you are overspending and need to make some changes.</span></p>\n<div id=\"mntl-sc-block_2-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">6. Make Adjustments to Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re in a situation where expenses are higher than income, find areas in your variable expenses you can cut. Look for places you can reduce your spending—like eating out less—or eliminate a category—like canceling your gym membership.</span></p>\n<div id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-61\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttipimportant 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_1-0-5\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If your expenses are far above your income, or you have significant debt, reducing your variable expenses may not be enough. You may need to trim your fixed expenses and increase your income to balance your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Aim to have your income and expense columns to be equal. This equal balance means all of your income is accounted for and budgeted toward a specific expense or savings goal.</span></p>\n<div id=\"mntl-sc-block_2-0-63\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Use Your Budget</span></h2>\n<p id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">After you have set up your budget, you must monitor and continue to track your expenses in each category, ideally every day of the month. The same budgeting spreadsheet or app used to make your budget can also be used to record your expense and income totals.</span></p>\n<div id=\"mntl-sc-block_2-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Recording what you spend throughout the month will keep you from overspending and help you identify unnecessary expenses or problematic spending patterns. Take a few minutes each day to record your expenses, rather than putting it off until the end of the month.</span></p>\n<div id=\"mntl-sc-block_2-0-68\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-39\" 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_1-0-6\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you\'re not confident that you can budget your money, adopt the envelope system where you divide cash for spending into separate envelopes for different spending categories. When an envelope becomes empty, you\'ll have to stop spending in that particular category.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-40\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">As you use your budget, keep an eye on how much you have spent. Once you have reached your spending limit in a category, you will either need to stop that type of spending for the month or move money from another category to cover additional expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Your goal in using your budget should be to keep your expenses equal to or lower than your income for the month.</span></p>\n<div id=\"mntl-sc-block_2-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Review and Tweak</span></h2>\n<p id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Circumstances change. Our priorities shift, we change jobs, we move, we have children. Make an appointment with yourself every few months to sit down with your budget and make sure it’s working for your current goals and realities.</span></p>\n<div id=\"mntl-sc-block_2-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you’ve already got your numbers plugged into a program or website, it’s easy to play around with your budget categories to see where you can create extra room or prioritize one thing over another.</span></p>\n<div id=\"mntl-sc-block_2-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Remember, your budget needs to work for you, not the other way around.</span></p>\n<div id=\"mntl-sc-block_2-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-81\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">General Budgeting Tips</span></h2>\n<p id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Once you have set up a basic budget, customize it according to your financial situation and goals.</span></p>\n<div id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li><span style=\"color: #000000;\">If you work on commission, be aggressive in saving to help cover periods when the market is slow.</span></li>\n<li><span style=\"color: #000000;\">If you have cash flow issues because you are paid only once a month, divide that payment by weeks, and keep the cash you planned to spend in remaining weeks in a separate account until you need it.</span></li>\n<li><span style=\"color: #000000;\">Pay with a credit card only if you will have the money to pay it off at the end of the month. Otherwise, you will owe interest on top of the price of whatever you bought.</span></li>\n<li><span style=\"color: #000000;\">Adjust your budget monthly if you find you overestimated or underestimated your expenses. Keep an eye on large expenses that only occur every few months, such as insurance payments.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If you tend to overspend in certain categories, use budgeting hacks such as switching to a cash-only budget.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Once your expenses are lower than your income, budget towards savings goals before you increase your spending.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Take time to learn other financial skills to improve your financial literacy and make your money work harder for you.</span></li>\n</ul>\n</ul>\n<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.thebalance.com/how-to-make-a-budget-1289587\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','How to Make a Personal Budget in 6 Easy Steps','','inherit','closed','closed','','1506-revision-v1','','','2021-05-20 21:45:39','2021-05-20 21:45:39','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1524,1,'2021-05-20 21:39:28','2021-05-20 21:39:28','','My Post (3)','','inherit','open','closed','','my-post-3-2','','','2021-05-20 21:39:28','2021-05-20 21:39:28','',0,'http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-3.png',0,'attachment','image/png',0),(1761,1,'2021-06-21 20:56:56','2021-06-21 20:56:56','<!-- wp:image {\"id\":1600,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-15-1024x536.png\" alt=\"\" class=\"wp-image-1600\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>I’ve had a valid driver’s license for 11 years with a perfectly clean record – no accidents, no speeding tickets, and not even a warning – so I was completely blindsided the day my SUV was rocked by the sound of a truck colliding into my driver’s side door, almost taking off the front bumper of my car. My kids and I were completely fine, but since it was my first accident, I was in a state of shock as I pulled my car into a nearby parking lot. Oddly, it wasn’t the fear of getting hurt, or the concern for my car that stands out about that day, but the disconcerting feeling of being in unfamiliar territory with no idea what to do. Immediately the other driver was out of his car and at my door, which wouldn’t open from the inside. I had to climb out of the passenger-side door to meet him, and he was ready for a fight. It was then that I had my “baptism by fire” and had to learn how to deal with car accidents, auto insurance, and other drivers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Lessons Learned From a Minor Car Accident</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While every situation is different, there are at least five important things to consider when you experience an accident. By taking the time to think about them in advance, you can save yourself mountains of grief in the event that an accident takes place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>1. Watch Your Words</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>“Admit it was your fault” were the first words out of the other driver’s mouth. Call it the Canadian in me, but my first instinct was to apologize profusely, even though I knew it wasn’t my fault. From what I could gather, I had been in the left turn lane when the truck crossed over from the right lane, trying to turn without checking his blind spot. Luckily, I clamped my mouth shut and ignored the man as I checked on my daughter. But I was confused – why was he insisting that I say it was my fault before we even assessed what happened? When I didn’t respond, the man got on the phone to report the accident to the police – the right thing to do. Soon after, an officer showed up and began working on his report. While the officer walked around the vehicles to assess the damage, the other driver kept needling me, “So, you admit it was your fault, right? Just say it was!” I simply said “I don’t know.” When the cop overheard the man, he chastised him for his behavior. The officer then took me aside and told me that in the event of an accident I should only exchange insurance information, and should never accept fault. I know this may sound naive,&nbsp;but I had no idea<em>.&nbsp;</em>The police officer let me know that the insurance companies would manage everything, and I didn’t need to answer the other driver’s questions. I learned two important lessons that day: You should never accept fault at the scene of an accident, and you should watch your words when speaking to the other driver. Getting upset, yelling, and placing blame only made the other man look bad to the police officer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>2. Treat Law Enforcement as an Ally</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I was so relieved when the police officer showed up to take his report, mostly because I knew that determining fault was out of my hands. I&nbsp;began thinking of the officer as my ally – someone who would keep me safe and determine fault from a neutral perspective. I’ll confess that I was visibly shaken when the officer arrived, so it was hard for me to explain exactly what happened. I did my best, and he pieced together the rest based on the damage done to our respective vehicles. He knew that the other car had turned into me due to the tire damage along the side of my car. The other driver wasn’t pleased to give his side of the story. He was despondent about the accident, combative about my role in it, and downright angry when he received a citation. I wouldn’t go as far as to say that he wouldn’t have received the citation had he been more cooperative, but I do think that his attitude toward the officer affected the final report sent to our insurance companies. When speaking with a police officer at the scene of an accident, remember these points about making your statement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Tell the officer the direction in which you were headed.</li><li>Note any signaling you saw or used before acting (e.g., a turn signal).</li><li>Mention any injuries that you or those in your car experienced due to the collision (including soreness or whip lash).</li><li>Share details about what you did leading up to and following the accident, without making assumptions about the actions of the other driver. For instance, you shouldn’t say, “I guess he forgot to signal and wanted to turn left.” This type of statement could be completely incorrect, and it makes you look like you’re placing blame.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Be honest and calm when giving your statement – law enforcement is your friend in these situations. As a neutral third-party, a police officer can help sort out the confusion and keep you safe through the process. I know I’m forever grateful for the cop who showed up at my accident scene – he was courteous, helpful, and kind.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>3. Take Pictures and Memorize Details</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While the police officer wrote up his report, he escorted the other driver and me around each of our vehicles. My car sustained most of the damage, with almost the entire front end visibly smashed. The other driver complained that his side mirror was damaged, but the officer recognized that it was merely folded in. That’s when I got out my phone and started snapping pictures. I had a gut feeling that the other driver wasn’t going to play by the rules, and I wanted to be sure that I had all the details right. I snapped pictures of the damage to both cars, pictures of the intersection and traffic signals, as well as pictures of our insurance cards and the other driver’s license plate. I made a point to record and memorize street names and the length of the turning lane. Later, when both insurance companies called to get my side of the story, I pulled up the intersection on Google Earth and was able to give an exact report, knowing that I had all the details right. This only served to further my case, helping show that I was an attentive and conscientious driver. I’ve since downloaded my insurance company’s app onto my cellphone so that I always have quick access to the claims department, as well as an e-copy of my insurance – something I wish I had prior to my accident.&nbsp;Of course you should always have a copy of your insurance in your car, but having one on your phone adds an extra layer of confidence in the event of an accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>4. Choose Your Claim Method</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are several different insurance claim methods you can use to submit a claim:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Not-at Fault Claims</strong>. My insurance company recommended that rather than spending money out-of-pocket to pay for repairs and a temporary rental car, I should have my car repaired through one of their certified body shops that they would cover directly. This would enable them to then work with the other party’s insurance company to have the expenses reimbursed. This saved me the trouble of paying for the repairs and personally working with the other man’s insurance for reimbursement.</li><li><strong>At-Fault Claims</strong>. Had I been at fault, I wouldn’t have been reimbursed for the cost of my deductible. Because the other driver was at fault, his insurance paid my insurance back for the repairs, including my deductible. If you’re at-fault for an accident, your insurance companies will cover the cost of your repairs, but you won’t get your deductible back, and your insurance premiums could increase.</li><li><strong>Total Loss Claims</strong>. If your vehicle is damaged beyond repair, or if the repairs cost more than your car is worth, you’re probably eligible for a claim that covers your total loss. This amount is determined based on the make, model, year, and condition of your car. In this event, you simply fill out an information packet that your insurance company sends to an agent who inspects your car to confirm that it is a total loss. The insurance then cuts a check for you.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Because of my situation, I filed a not-at-fault claim, choosing to have my insurance company arrange and pay for the repairs. There are a few clear benefits to this choice:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Your insurance company has a vested interest in making sure you’re satisfied with their service, so they work much faster than an insurance company for whom you aren’t a customer.</li><li>The claims process can take months. In my case, the other driver continued to fight the fault assigned to him, so it ended up going into arbitration – a method by which a neutral third party is assigned to look over the case, assess police reports and costs, and assign fault.&nbsp;The arbitrator eventually found in my favor, but if I had paid out-of-pocket for repairs, it would have taken almost a year before I recouped my costs. I’m glad I was only out a $500 deductible for that long, rather than thousands of dollars in repairs.</li><li>The repair process was relatively painless. I dropped my SUV off at the body shop, paid my deductible, and all the repair invoices were then submitted to and paid by my insurance company. I didn’t have to keep receipts, shop around for the best deal, or pay more than the initial deductible.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Not all claims go this smoothly, but given the choice between having my insurance company take care of everything, or paying for it myself, then working with my insurance company to be compensated&nbsp;through the other driver’s insurance company, the in-house method was definitely easier. Still, it’s a good idea to ask your claims adjuster which method works best for your situation. There’s no one-size-fits-all solution, and your adjuster might suggest a different route based on the other driver’s insurance, the extent of the damage, and your own level of insurance coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>5. Stay Calm</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I didn’t feel like staying calm while working through the aftermath of my accident. From the accident’s initial shock, to the months of dealing with insurance companies, to the constant conflicting stories being issued by the other driver, it was tempting to fly off the handle and tell the other driver’s insurance just what I thought of him. But if there’s one thing that I learned through the experience, it’s that you catch more flies with honey than with vinegar. Car accidents are awful, but getting upset, yelling, placing blame, and pointing fingers won’t serve you well. The police officer and claims adjusters I worked with responded well to a calm voice and a practical attitude. In my case, the other driver tried contacting me several times after the accident was deemed his fault. I ignored the calls and checked with my insurance company. Sure enough, they let me know that there’s no reason for the people involved in the accident to speak to one another after the accident – all communication should go through the insurance companies. By keeping a steady head, the stress of the accident and its aftermath do eventually subside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Final Word</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I feel lucky that no one was hurt and that my SUV has since been repaired and is running smoothly. It was actually the mental aspect of the experience that I found most difficult. While I wish I had been more prepared, I’m glad for what it’s taught me. For one, I’m a much more attentive and defensive driver, and that’s a good thing. What’s more, I have a better understanding of the insurance process and I now know what to say (and what not to say) if I ever find myself in a similar situation again. Have you ever been in a car accident? What did the experience teach you?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.moneycrashers.com/what-to-do-after-car-accident/\">click here</a>.</p>\n<!-- /wp:paragraph -->','What to Do After a Car Accident? - Injuries, Damages & Insurance Claims','','inherit','closed','closed','','1597-revision-v1','','','2021-06-21 20:56:56','2021-06-21 20:56:56','',1597,'http://smartinsurance.tips/?p=1761',0,'revision','',0),(1513,1,'2021-05-20 21:31:33','2021-05-20 21:31:33','[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_3-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_3-0\" class=\"comp article-heading__highlight mntl-text-block\" style=\"color: #000000;\">How to Make a Personal Budget in 6 Easy Steps</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<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1510 aligncenter size-large\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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<h2 class=\"comp article-subheading mntl-text-block\"></h2>\n<h2 id=\"article-subheading_4-0\" class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\">A step-by-step guide to creating and using a budget</span></h2>\n<p id=\"mntl-sc-block_1-0\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you want to control your spending and work toward your financial goals, you need a budget.</span></p>\n<div id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_20-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A personal or household budget is a summary that compares and tracks your income and expenses for a defined period, typically one month.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-7\">1</span> While the word \"budget\" is often associated with restricted spending, a budget does not have to be restrictive to be effective.</span></p>\n<div id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_21-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A budget will show you how much money you expect to bring in, then compare that to your required expenses—such as rent and insurance—and your discretionary spending, such as entertainment or eating out. Instead of viewing a budget as a negative, you can view it as a tool for achieving your financial goals.</span></p>\n<div id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_22-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What a Budget Does</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A written, monthly budget is a financial planning tool that allows you to plan how much you will spend or save each month. It also allows you to track your spending habits.</span></p>\n<div id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_23-0\" class=\"comp mntl-block\">\n<div id=\"mntl-native_4-0\" class=\"comp mntl-native\">\n<div id=\"native-placeholder_4-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Though making a budget may not sound like the most exciting activity (and for some, it\'s downright scary), it\'s an important part of keeping your financial house in order. That\'s because budgets rely on balance. If you spend less in one area, you can spend more in another, save that money for a large purchase, build a \"rainy day\" fund, increase your savings, or invest in building wealth.</span></p>\n<div id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_24-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-experttipimportant 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><span style=\"color: #000000;\">A budget only works if you are honest about both your income and expenses. To make an effective budget, you must be willing to work with detailed and accurate information about your earning and spending habits.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Ultimately, the result of your new budget will show you where your money is coming from, how much is there, and where it all goes each month.</span></p>\n<div id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_25-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Make a Budget in Six Simple Steps</span></h2>\n<p id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">To create a budget that works and allows you live a comfortable and happy life, you need to get a firm handle on what you’re currently spending, what you can afford to spend, and what your priorities are.</span></p>\n<div id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_26-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you embark on making a budget, find a good template you can use to fill in the numbers for your expenses and income.</span></p>\n<div id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_27-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-9\" 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><span style=\"color: #000000;\">While you can use old-fashioned pen and paper to budget your money, it\'s easier and more efficient to use a monthly budget spreadsheet or a budgeting app. These will contain designated fields for income and expenses in various categories, as well as built-in formulas to help you figure your budget surplus or shortfall with minimal effort.</span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">1. Gather Your Financial Paperwork</span></h3>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you begin, gather up all your financial statements, including:</span></p>\n<div id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Bank statements</span></li>\n<li><span style=\"color: #000000;\">Investment accounts</span></li>\n<li><span style=\"color: #000000;\">Recent utility bills</span></li>\n<li><span style=\"color: #000000;\">W-2s and paystubs</span></li>\n<li><span style=\"color: #000000;\">1099s</span></li>\n<li><span style=\"color: #000000;\">Credit card bills</span></li>\n<li><span style=\"color: #000000;\">Receipts from the last three months</span></li>\n<li><span style=\"color: #000000;\">Mortgage or auto loan statements</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">You want to have access to any information about your income and expenses. One of the keys to the budget-making process is to create a monthly average. The more information you can dig up, the better.</span></p>\n<div id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">2. Calculate Your Income</span></h3>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">How much income can you expect each month? If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income (or take-home pay) amount is fine. If you are self-employed or have outside sources of income, such as child support or Social Security, include these as well. Record this total income as a monthly amount.</span></p>\n<div id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-16\" 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><span style=\"color: #000000;\">If you have a variable income (for example, from a seasonal or freelance job), consider using the income from your lowest-earning month in the past year as your baseline income when you set up your budget.</span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">3. Create a List of Monthly Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Write down a list of all the expenses you expect to have during a month. This list could include:</span></p>\n<div id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Mortgage payments or rent</span></li>\n<li><span style=\"color: #000000;\">Car payments</span></li>\n<li><span style=\"color: #000000;\">Insurance</span></li>\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Utilities</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Personal care</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Childcare</span></li>\n<li><span style=\"color: #000000;\">Transportation costs</span></li>\n<li><span style=\"color: #000000;\">Travel</span></li>\n<li><span style=\"color: #000000;\">Student loans</span></li>\n<li><span style=\"color: #000000;\">Savings</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Use your bank statements, receipts, and credit card statements from the last three months to identify all your spending.</span></p>\n<div id=\"mntl-sc-block_2-0-37\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">4. Determine Fixed and Variable Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Fixed expenses are those mandatory expenses that you pay the same amount for each time.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-10\">2</span> Include items like mortgage or rent payments, car payments, set-fee internet service, trash pickup, and regular childcare. If you pay a standard credit card payment, include that amount and any other essential spending that tends to stay the same from month to month.</span></p>\n<div id=\"mntl-sc-block_2-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you plan to save a fixed amount or pay off a certain amount of debt each month, also include savings and debt repayment as fixed expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Variable expenses are the type that will change from month to month, such as:</span></p>\n<div id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-25\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Gasoline</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Gifts<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-11\">3</span></span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-26\" 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_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you don\'t have an emergency fund, include a category for \"surprise expenses\" that might pop up over the month and derail your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Start assigning a spending value to each category, beginning with your fixed expenses. Then, estimate how much you\'ll need to spend per month on variable expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re not sure how much you spend in each category, review your last two or three months of credit card or bank transactions to make a rough estimate.</span></p>\n<div id=\"mntl-sc-block_2-0-51\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">5. Total Your Monthly Income and Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your income is higher than your expenses, you are off to a good start. This extra money means you can put funds towards areas of your budget, such as retirement savings or paying off debt.</span></p>\n<div id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-55\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-31\" 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_1-0-4\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you have more income than expenses, consider adopting the “50-30-20” budgeting philosophy. In a 50-30-20 budget, \"needs,\" or essential expenses, should represent half of your budget, wants should make up another 30%, and savings and debt repayment should make up the final 20% of your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your expenses are more than your income, that means you are overspending and need to make some changes.</span></p>\n<div id=\"mntl-sc-block_2-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">6. Make Adjustments to Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re in a situation where expenses are higher than income, find areas in your variable expenses you can cut. Look for places you can reduce your spending—like eating out less—or eliminate a category—like canceling your gym membership.</span></p>\n<div id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-61\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttipimportant 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_1-0-5\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If your expenses are far above your income, or you have significant debt, reducing your variable expenses may not be enough. You may need to trim your fixed expenses and increase your income to balance your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Aim to have your income and expense columns to be equal. This equal balance means all of your income is accounted for and budgeted toward a specific expense or savings goal.</span></p>\n<div id=\"mntl-sc-block_2-0-63\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Use Your Budget</span></h2>\n<p id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">After you have set up your budget, you must monitor and continue to track your expenses in each category, ideally every day of the month. The same budgeting spreadsheet or app used to make your budget can also be used to record your expense and income totals.</span></p>\n<div id=\"mntl-sc-block_2-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Recording what you spend throughout the month will keep you from overspending and help you identify unnecessary expenses or problematic spending patterns. Take a few minutes each day to record your expenses, rather than putting it off until the end of the month.</span></p>\n<div id=\"mntl-sc-block_2-0-68\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-39\" 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_1-0-6\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you\'re not confident that you can budget your money, adopt the envelope system where you divide cash for spending into separate envelopes for different spending categories. When an envelope becomes empty, you\'ll have to stop spending in that particular category.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-40\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">As you use your budget, keep an eye on how much you have spent. Once you have reached your spending limit in a category, you will either need to stop that type of spending for the month or move money from another category to cover additional expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Your goal in using your budget should be to keep your expenses equal to or lower than your income for the month.</span></p>\n<div id=\"mntl-sc-block_2-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Review and Tweak</span></h2>\n<p id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Circumstances change. Our priorities shift, we change jobs, we move, we have children. Make an appointment with yourself every few months to sit down with your budget and make sure it’s working for your current goals and realities.</span></p>\n<div id=\"mntl-sc-block_2-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you’ve already got your numbers plugged into a program or website, it’s easy to play around with your budget categories to see where you can create extra room or prioritize one thing over another.</span></p>\n<div id=\"mntl-sc-block_2-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Remember, your budget needs to work for you, not the other way around.</span></p>\n<div id=\"mntl-sc-block_2-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-81\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">General Budgeting Tips</span></h2>\n<p id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Once you have set up a basic budget, customize it according to your financial situation and goals.</span></p>\n<div id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li><span style=\"color: #000000;\">If you work on commission, be aggressive in saving to help cover periods when the market is slow.</span></li>\n<li><span style=\"color: #000000;\">If you have cash flow issues because you are paid only once a month, divide that payment by weeks, and keep the cash you planned to spend in remaining weeks in a separate account until you need it.</span></li>\n<li><span style=\"color: #000000;\">Pay with a credit card only if you will have the money to pay it off at the end of the month. Otherwise, you will owe interest on top of the price of whatever you bought.</span></li>\n<li><span style=\"color: #000000;\">Adjust your budget monthly if you find you overestimated or underestimated your expenses. Keep an eye on large expenses that only occur every few months, such as insurance payments.</span></li>\n</ul>\n</ul>\n<p style=\"text-align: left;\"><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\" style=\"color: #000000;\"></span></p>\n<ul id=\"mntl-sc-block_1-0-46\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If you tend to overspend in certain categories, use budgeting hacks such as switching to a cash-only budget.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Once your expenses are lower than your income, budget towards savings goals before you increase your spending.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Take time to learn other financial skills to improve your financial literacy and make your money work harder for you.</span></li>\n</ul>\n<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://smallbiztrends.com/2020/09/10-tiny-pivots-to-make-your-small-business-more-effective.html\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','1506-revision-v1','','','2021-05-20 21:31:33','2021-05-20 21:31:33','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1517,1,'2021-05-20 21:35:05','2021-05-20 21:35:05','[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_3-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_3-0\" class=\"comp article-heading__highlight mntl-text-block\" style=\"color: #000000;\">How to Make a Personal Budget in 6 Easy Steps</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\" custom_padding=\"||0px|||\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1510 aligncenter size-large\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"article-subheading_4-0\" class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\">A step-by-step guide to creating and using a budget</span></h2>\n<p><span style=\"color: #000000;\"></span></p>\n<p id=\"mntl-sc-block_1-0\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you want to control your spending and work toward your financial goals, you need a budget.</span></p>\n<div id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_20-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A personal or household budget is a summary that compares and tracks your income and expenses for a defined period, typically one month.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-7\">1</span> While the word \"budget\" is often associated with restricted spending, a budget does not have to be restrictive to be effective.</span></p>\n<div id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_21-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A budget will show you how much money you expect to bring in, then compare that to your required expenses—such as rent and insurance—and your discretionary spending, such as entertainment or eating out. Instead of viewing a budget as a negative, you can view it as a tool for achieving your financial goals.</span></p>\n<div id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_22-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What a Budget Does</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A written, monthly budget is a financial planning tool that allows you to plan how much you will spend or save each month. It also allows you to track your spending habits.</span></p>\n<div id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_23-0\" class=\"comp mntl-block\">\n<div id=\"mntl-native_4-0\" class=\"comp mntl-native\">\n<div id=\"native-placeholder_4-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Though making a budget may not sound like the most exciting activity (and for some, it\'s downright scary), it\'s an important part of keeping your financial house in order. That\'s because budgets rely on balance. If you spend less in one area, you can spend more in another, save that money for a large purchase, build a \"rainy day\" fund, increase your savings, or invest in building wealth.</span></p>\n<div id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_24-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-experttipimportant 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><span style=\"color: #000000;\">A budget only works if you are honest about both your income and expenses. To make an effective budget, you must be willing to work with detailed and accurate information about your earning and spending habits.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Ultimately, the result of your new budget will show you where your money is coming from, how much is there, and where it all goes each month.</span></p>\n<div id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_25-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Make a Budget in Six Simple Steps</span></h2>\n<p id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">To create a budget that works and allows you live a comfortable and happy life, you need to get a firm handle on what you’re currently spending, what you can afford to spend, and what your priorities are.</span></p>\n<div id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_26-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you embark on making a budget, find a good template you can use to fill in the numbers for your expenses and income.</span></p>\n<div id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_27-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-9\" 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><span style=\"color: #000000;\">While you can use old-fashioned pen and paper to budget your money, it\'s easier and more efficient to use a monthly budget spreadsheet or a budgeting app. These will contain designated fields for income and expenses in various categories, as well as built-in formulas to help you figure your budget surplus or shortfall with minimal effort.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">1. Gather Your Financial Paperwork</span></h3>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you begin, gather up all your financial statements, including:</span></p>\n<div id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Bank statements</span></li>\n<li><span style=\"color: #000000;\">Investment accounts</span></li>\n<li><span style=\"color: #000000;\">Recent utility bills</span></li>\n<li><span style=\"color: #000000;\">W-2s and paystubs</span></li>\n<li><span style=\"color: #000000;\">1099s</span></li>\n<li><span style=\"color: #000000;\">Credit card bills</span></li>\n<li><span style=\"color: #000000;\">Receipts from the last three months</span></li>\n<li><span style=\"color: #000000;\">Mortgage or auto loan statements</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">You want to have access to any information about your income and expenses. One of the keys to the budget-making process is to create a monthly average. The more information you can dig up, the better.</span></p>\n<div id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">2. Calculate Your Income</span></h3>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">How much income can you expect each month? If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income (or take-home pay) amount is fine. If you are self-employed or have outside sources of income, such as child support or Social Security, include these as well. Record this total income as a monthly amount.</span></p>\n<div id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-16\" 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><span style=\"color: #000000;\">If you have a variable income (for example, from a seasonal or freelance job), consider using the income from your lowest-earning month in the past year as your baseline income when you set up your budget.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">3. Create a List of Monthly Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Write down a list of all the expenses you expect to have during a month. This list could include:</span></p>\n<div id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Mortgage payments or rent</span></li>\n<li><span style=\"color: #000000;\">Car payments</span></li>\n<li><span style=\"color: #000000;\">Insurance</span></li>\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Utilities</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Personal care</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Childcare</span></li>\n<li><span style=\"color: #000000;\">Transportation costs</span></li>\n<li><span style=\"color: #000000;\">Travel</span></li>\n<li><span style=\"color: #000000;\">Student loans</span></li>\n<li><span style=\"color: #000000;\">Savings</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Use your bank statements, receipts, and credit card statements from the last three months to identify all your spending.</span></p>\n<div id=\"mntl-sc-block_2-0-37\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">4. Determine Fixed and Variable Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Fixed expenses are those mandatory expenses that you pay the same amount for each time.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-10\">2</span> Include items like mortgage or rent payments, car payments, set-fee internet service, trash pickup, and regular childcare. If you pay a standard credit card payment, include that amount and any other essential spending that tends to stay the same from month to month.</span></p>\n<div id=\"mntl-sc-block_2-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you plan to save a fixed amount or pay off a certain amount of debt each month, also include savings and debt repayment as fixed expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Variable expenses are the type that will change from month to month, such as:</span></p>\n<div id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-25\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Gasoline</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Gifts<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-11\">3</span></span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-26\" 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_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you don\'t have an emergency fund, include a category for \"surprise expenses\" that might pop up over the month and derail your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Start assigning a spending value to each category, beginning with your fixed expenses. Then, estimate how much you\'ll need to spend per month on variable expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re not sure how much you spend in each category, review your last two or three months of credit card or bank transactions to make a rough estimate.</span></p>\n<div id=\"mntl-sc-block_2-0-51\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">5. Total Your Monthly Income and Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your income is higher than your expenses, you are off to a good start. This extra money means you can put funds towards areas of your budget, such as retirement savings or paying off debt.</span></p>\n<div id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-55\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-31\" 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_1-0-4\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you have more income than expenses, consider adopting the “50-30-20” budgeting philosophy. In a 50-30-20 budget, \"needs,\" or essential expenses, should represent half of your budget, wants should make up another 30%, and savings and debt repayment should make up the final 20% of your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your expenses are more than your income, that means you are overspending and need to make some changes.</span></p>\n<div id=\"mntl-sc-block_2-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">6. Make Adjustments to Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re in a situation where expenses are higher than income, find areas in your variable expenses you can cut. Look for places you can reduce your spending—like eating out less—or eliminate a category—like canceling your gym membership.</span></p>\n<div id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-61\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttipimportant 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_1-0-5\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If your expenses are far above your income, or you have significant debt, reducing your variable expenses may not be enough. You may need to trim your fixed expenses and increase your income to balance your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Aim to have your income and expense columns to be equal. This equal balance means all of your income is accounted for and budgeted toward a specific expense or savings goal.</span></p>\n<div id=\"mntl-sc-block_2-0-63\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Use Your Budget</span></h2>\n<p id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">After you have set up your budget, you must monitor and continue to track your expenses in each category, ideally every day of the month. The same budgeting spreadsheet or app used to make your budget can also be used to record your expense and income totals.</span></p>\n<div id=\"mntl-sc-block_2-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Recording what you spend throughout the month will keep you from overspending and help you identify unnecessary expenses or problematic spending patterns. Take a few minutes each day to record your expenses, rather than putting it off until the end of the month.</span></p>\n<div id=\"mntl-sc-block_2-0-68\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-39\" 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_1-0-6\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you\'re not confident that you can budget your money, adopt the envelope system where you divide cash for spending into separate envelopes for different spending categories. When an envelope becomes empty, you\'ll have to stop spending in that particular category.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-40\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">As you use your budget, keep an eye on how much you have spent. Once you have reached your spending limit in a category, you will either need to stop that type of spending for the month or move money from another category to cover additional expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Your goal in using your budget should be to keep your expenses equal to or lower than your income for the month.</span></p>\n<div id=\"mntl-sc-block_2-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Review and Tweak</span></h2>\n<p id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Circumstances change. Our priorities shift, we change jobs, we move, we have children. Make an appointment with yourself every few months to sit down with your budget and make sure it’s working for your current goals and realities.</span></p>\n<div id=\"mntl-sc-block_2-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you’ve already got your numbers plugged into a program or website, it’s easy to play around with your budget categories to see where you can create extra room or prioritize one thing over another.</span></p>\n<div id=\"mntl-sc-block_2-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Remember, your budget needs to work for you, not the other way around.</span></p>\n<div id=\"mntl-sc-block_2-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-81\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">General Budgeting Tips</span></h2>\n<p id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Once you have set up a basic budget, customize it according to your financial situation and goals.</span></p>\n<div id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li><span style=\"color: #000000;\">If you work on commission, be aggressive in saving to help cover periods when the market is slow.</span></li>\n<li><span style=\"color: #000000;\">If you have cash flow issues because you are paid only once a month, divide that payment by weeks, and keep the cash you planned to spend in remaining weeks in a separate account until you need it.</span></li>\n<li><span style=\"color: #000000;\">Pay with a credit card only if you will have the money to pay it off at the end of the month. Otherwise, you will owe interest on top of the price of whatever you bought.</span></li>\n<li><span style=\"color: #000000;\">Adjust your budget monthly if you find you overestimated or underestimated your expenses. Keep an eye on large expenses that only occur every few months, such as insurance payments.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If you tend to overspend in certain categories, use budgeting hacks such as switching to a cash-only budget.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Once your expenses are lower than your income, budget towards savings goals before you increase your spending.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Take time to learn other financial skills to improve your financial literacy and make your money work harder for you.</span></li>\n</ul>\n</ul>\n<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.thebalance.com/how-to-make-a-budget-1289587\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','1506-revision-v1','','','2021-05-20 21:35:05','2021-05-20 21:35:05','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1515,1,'2021-05-20 21:33:48','2021-05-20 21:33:48','[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_3-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_3-0\" class=\"comp article-heading__highlight mntl-text-block\" style=\"color: #000000;\">How to Make a Personal Budget in 6 Easy Steps</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\" custom_padding=\"||0px|||\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1510 aligncenter size-large\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"article-subheading_4-0\" class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\">A step-by-step guide to creating and using a budget</span></h2>\n<p><span style=\"color: #000000;\"></span></p>\n<p id=\"mntl-sc-block_1-0\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you want to control your spending and work toward your financial goals, you need a budget.</span></p>\n<div id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_20-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A personal or household budget is a summary that compares and tracks your income and expenses for a defined period, typically one month.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-7\">1</span> While the word \"budget\" is often associated with restricted spending, a budget does not have to be restrictive to be effective.</span></p>\n<div id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_21-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A budget will show you how much money you expect to bring in, then compare that to your required expenses—such as rent and insurance—and your discretionary spending, such as entertainment or eating out. Instead of viewing a budget as a negative, you can view it as a tool for achieving your financial goals.</span></p>\n<div id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_22-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What a Budget Does</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A written, monthly budget is a financial planning tool that allows you to plan how much you will spend or save each month. It also allows you to track your spending habits.</span></p>\n<div id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_23-0\" class=\"comp mntl-block\">\n<div id=\"mntl-native_4-0\" class=\"comp mntl-native\">\n<div id=\"native-placeholder_4-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Though making a budget may not sound like the most exciting activity (and for some, it\'s downright scary), it\'s an important part of keeping your financial house in order. That\'s because budgets rely on balance. If you spend less in one area, you can spend more in another, save that money for a large purchase, build a \"rainy day\" fund, increase your savings, or invest in building wealth.</span></p>\n<div id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_24-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-experttipimportant 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><span style=\"color: #000000;\">A budget only works if you are honest about both your income and expenses. To make an effective budget, you must be willing to work with detailed and accurate information about your earning and spending habits.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Ultimately, the result of your new budget will show you where your money is coming from, how much is there, and where it all goes each month.</span></p>\n<div id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_25-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Make a Budget in Six Simple Steps</span></h2>\n<p id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">To create a budget that works and allows you live a comfortable and happy life, you need to get a firm handle on what you’re currently spending, what you can afford to spend, and what your priorities are.</span></p>\n<div id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_26-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you embark on making a budget, find a good template you can use to fill in the numbers for your expenses and income.</span></p>\n<div id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_27-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-9\" 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><span style=\"color: #000000;\">While you can use old-fashioned pen and paper to budget your money, it\'s easier and more efficient to use a monthly budget spreadsheet or a budgeting app. These will contain designated fields for income and expenses in various categories, as well as built-in formulas to help you figure your budget surplus or shortfall with minimal effort.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">1. Gather Your Financial Paperwork</span></h3>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you begin, gather up all your financial statements, including:</span></p>\n<div id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Bank statements</span></li>\n<li><span style=\"color: #000000;\">Investment accounts</span></li>\n<li><span style=\"color: #000000;\">Recent utility bills</span></li>\n<li><span style=\"color: #000000;\">W-2s and paystubs</span></li>\n<li><span style=\"color: #000000;\">1099s</span></li>\n<li><span style=\"color: #000000;\">Credit card bills</span></li>\n<li><span style=\"color: #000000;\">Receipts from the last three months</span></li>\n<li><span style=\"color: #000000;\">Mortgage or auto loan statements</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">You want to have access to any information about your income and expenses. One of the keys to the budget-making process is to create a monthly average. The more information you can dig up, the better.</span></p>\n<div id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">2. Calculate Your Income</span></h3>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">How much income can you expect each month? If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income (or take-home pay) amount is fine. If you are self-employed or have outside sources of income, such as child support or Social Security, include these as well. Record this total income as a monthly amount.</span></p>\n<div id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-16\" 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><span style=\"color: #000000;\">If you have a variable income (for example, from a seasonal or freelance job), consider using the income from your lowest-earning month in the past year as your baseline income when you set up your budget.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">3. Create a List of Monthly Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Write down a list of all the expenses you expect to have during a month. This list could include:</span></p>\n<div id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Mortgage payments or rent</span></li>\n<li><span style=\"color: #000000;\">Car payments</span></li>\n<li><span style=\"color: #000000;\">Insurance</span></li>\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Utilities</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Personal care</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Childcare</span></li>\n<li><span style=\"color: #000000;\">Transportation costs</span></li>\n<li><span style=\"color: #000000;\">Travel</span></li>\n<li><span style=\"color: #000000;\">Student loans</span></li>\n<li><span style=\"color: #000000;\">Savings</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Use your bank statements, receipts, and credit card statements from the last three months to identify all your spending.</span></p>\n<div id=\"mntl-sc-block_2-0-37\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">4. Determine Fixed and Variable Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Fixed expenses are those mandatory expenses that you pay the same amount for each time.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-10\">2</span> Include items like mortgage or rent payments, car payments, set-fee internet service, trash pickup, and regular childcare. If you pay a standard credit card payment, include that amount and any other essential spending that tends to stay the same from month to month.</span></p>\n<div id=\"mntl-sc-block_2-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you plan to save a fixed amount or pay off a certain amount of debt each month, also include savings and debt repayment as fixed expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Variable expenses are the type that will change from month to month, such as:</span></p>\n<div id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-25\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Gasoline</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Gifts<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-11\">3</span></span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-26\" 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_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you don\'t have an emergency fund, include a category for \"surprise expenses\" that might pop up over the month and derail your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Start assigning a spending value to each category, beginning with your fixed expenses. Then, estimate how much you\'ll need to spend per month on variable expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re not sure how much you spend in each category, review your last two or three months of credit card or bank transactions to make a rough estimate.</span></p>\n<div id=\"mntl-sc-block_2-0-51\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">5. Total Your Monthly Income and Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your income is higher than your expenses, you are off to a good start. This extra money means you can put funds towards areas of your budget, such as retirement savings or paying off debt.</span></p>\n<div id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-55\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-31\" 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_1-0-4\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you have more income than expenses, consider adopting the “50-30-20” budgeting philosophy. In a 50-30-20 budget, \"needs,\" or essential expenses, should represent half of your budget, wants should make up another 30%, and savings and debt repayment should make up the final 20% of your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your expenses are more than your income, that means you are overspending and need to make some changes.</span></p>\n<div id=\"mntl-sc-block_2-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">6. Make Adjustments to Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re in a situation where expenses are higher than income, find areas in your variable expenses you can cut. Look for places you can reduce your spending—like eating out less—or eliminate a category—like canceling your gym membership.</span></p>\n<div id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-61\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttipimportant 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_1-0-5\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If your expenses are far above your income, or you have significant debt, reducing your variable expenses may not be enough. You may need to trim your fixed expenses and increase your income to balance your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Aim to have your income and expense columns to be equal. This equal balance means all of your income is accounted for and budgeted toward a specific expense or savings goal.</span></p>\n<div id=\"mntl-sc-block_2-0-63\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Use Your Budget</span></h2>\n<p id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">After you have set up your budget, you must monitor and continue to track your expenses in each category, ideally every day of the month. The same budgeting spreadsheet or app used to make your budget can also be used to record your expense and income totals.</span></p>\n<div id=\"mntl-sc-block_2-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Recording what you spend throughout the month will keep you from overspending and help you identify unnecessary expenses or problematic spending patterns. Take a few minutes each day to record your expenses, rather than putting it off until the end of the month.</span></p>\n<div id=\"mntl-sc-block_2-0-68\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-39\" 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_1-0-6\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you\'re not confident that you can budget your money, adopt the envelope system where you divide cash for spending into separate envelopes for different spending categories. When an envelope becomes empty, you\'ll have to stop spending in that particular category.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-40\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">As you use your budget, keep an eye on how much you have spent. Once you have reached your spending limit in a category, you will either need to stop that type of spending for the month or move money from another category to cover additional expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Your goal in using your budget should be to keep your expenses equal to or lower than your income for the month.</span></p>\n<div id=\"mntl-sc-block_2-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Review and Tweak</span></h2>\n<p id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Circumstances change. Our priorities shift, we change jobs, we move, we have children. Make an appointment with yourself every few months to sit down with your budget and make sure it’s working for your current goals and realities.</span></p>\n<div id=\"mntl-sc-block_2-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you’ve already got your numbers plugged into a program or website, it’s easy to play around with your budget categories to see where you can create extra room or prioritize one thing over another.</span></p>\n<div id=\"mntl-sc-block_2-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Remember, your budget needs to work for you, not the other way around.</span></p>\n<div id=\"mntl-sc-block_2-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-81\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">General Budgeting Tips</span></h2>\n<p id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Once you have set up a basic budget, customize it according to your financial situation and goals.</span></p>\n<div id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li><span style=\"color: #000000;\">If you work on commission, be aggressive in saving to help cover periods when the market is slow.</span></li>\n<li><span style=\"color: #000000;\">If you have cash flow issues because you are paid only once a month, divide that payment by weeks, and keep the cash you planned to spend in remaining weeks in a separate account until you need it.</span></li>\n<li><span style=\"color: #000000;\">Pay with a credit card only if you will have the money to pay it off at the end of the month. Otherwise, you will owe interest on top of the price of whatever you bought.</span></li>\n<li><span style=\"color: #000000;\">Adjust your budget monthly if you find you overestimated or underestimated your expenses. Keep an eye on large expenses that only occur every few months, such as insurance payments.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If you tend to overspend in certain categories, use budgeting hacks such as switching to a cash-only budget.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Once your expenses are lower than your income, budget towards savings goals before you increase your spending.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Take time to learn other financial skills to improve your financial literacy and make your money work harder for you.</span></li>\n</ul>\n</ul>\n<p style=\"text-align: left;\"><span class=\"mntl-sc-block-adslot mntl-sc-block-adslot-inline\" style=\"color: #000000;\"></span></p>\n<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.thebalance.com/how-to-make-a-budget-1289587\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','1506-revision-v1','','','2021-05-20 21:33:48','2021-05-20 21:33:48','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1519,1,'2021-05-20 21:35:33','2021-05-20 21:35:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\" min_height=\"4321px\"][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_3-0\" class=\"comp article-heading mntl-block\" style=\"text-align: center;\"><strong><span id=\"article-heading__highlight_3-0\" class=\"comp article-heading__highlight mntl-text-block\" style=\"color: #000000;\">How to Make a Personal Budget in 6 Easy Steps</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\" custom_padding=\"||0px|||\"]<div align=\"center\">\n<p style=\"text-align: left;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" width=\"1024\" height=\"536\" alt=\"\" class=\"wp-image-1510 aligncenter size-large\" /></span></p>\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></div>\n<div class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"></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<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\"></span></h2>\n<h2 id=\"article-subheading_4-0\" class=\"comp article-subheading mntl-text-block\" style=\"text-align: left;\"><span style=\"color: #000000;\">A step-by-step guide to creating and using a budget</span></h2>\n<p><span style=\"color: #000000;\"></span></p>\n<p id=\"mntl-sc-block_1-0\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you want to control your spending and work toward your financial goals, you need a budget.</span></p>\n<div id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_20-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A personal or household budget is a summary that compares and tracks your income and expenses for a defined period, typically one month.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-7\">1</span> While the word \"budget\" is often associated with restricted spending, a budget does not have to be restrictive to be effective.</span></p>\n<div id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_21-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A budget will show you how much money you expect to bring in, then compare that to your required expenses—such as rent and insurance—and your discretionary spending, such as entertainment or eating out. Instead of viewing a budget as a negative, you can view it as a tool for achieving your financial goals.</span></p>\n<div id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_22-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What a Budget Does</span></h2>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">A written, monthly budget is a financial planning tool that allows you to plan how much you will spend or save each month. It also allows you to track your spending habits.</span></p>\n<div id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_23-0\" class=\"comp mntl-block\">\n<div id=\"mntl-native_4-0\" class=\"comp mntl-native\">\n<div id=\"native-placeholder_4-0\" class=\"comp native-placeholder mntl-block\"></div>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Though making a budget may not sound like the most exciting activity (and for some, it\'s downright scary), it\'s an important part of keeping your financial house in order. That\'s because budgets rely on balance. If you spend less in one area, you can spend more in another, save that money for a large purchase, build a \"rainy day\" fund, increase your savings, or invest in building wealth.</span></p>\n<div id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_24-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-experttipimportant 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><span style=\"color: #000000;\">A budget only works if you are honest about both your income and expenses. To make an effective budget, you must be willing to work with detailed and accurate information about your earning and spending habits.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-6\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Ultimately, the result of your new budget will show you where your money is coming from, how much is there, and where it all goes each month.</span></p>\n<div id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_25-0\" class=\"comp mntl-block\"></div>\n</div>\n<h2 id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Make a Budget in Six Simple Steps</span></h2>\n<p id=\"mntl-sc-block_1-0-7\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">To create a budget that works and allows you live a comfortable and happy life, you need to get a firm handle on what you’re currently spending, what you can afford to spend, and what your priorities are.</span></p>\n<div id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_26-0\" class=\"comp mntl-block\"></div>\n</div>\n<p id=\"mntl-sc-block_1-0-8\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you embark on making a budget, find a good template you can use to fill in the numbers for your expenses and income.</span></p>\n<div id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-block_27-0\" class=\"comp mntl-block\"></div>\n</div>\n<div id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-9\" 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><span style=\"color: #000000;\">While you can use old-fashioned pen and paper to budget your money, it\'s easier and more efficient to use a monthly budget spreadsheet or a budgeting app. These will contain designated fields for income and expenses in various categories, as well as built-in formulas to help you figure your budget surplus or shortfall with minimal effort.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-10\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">1. Gather Your Financial Paperwork</span></h3>\n<p id=\"mntl-sc-block_1-0-11\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Before you begin, gather up all your financial statements, including:</span></p>\n<div id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-12\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Bank statements</span></li>\n<li><span style=\"color: #000000;\">Investment accounts</span></li>\n<li><span style=\"color: #000000;\">Recent utility bills</span></li>\n<li><span style=\"color: #000000;\">W-2s and paystubs</span></li>\n<li><span style=\"color: #000000;\">1099s</span></li>\n<li><span style=\"color: #000000;\">Credit card bills</span></li>\n<li><span style=\"color: #000000;\">Receipts from the last three months</span></li>\n<li><span style=\"color: #000000;\">Mortgage or auto loan statements</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-13\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">You want to have access to any information about your income and expenses. One of the keys to the budget-making process is to create a monthly average. The more information you can dig up, the better.</span></p>\n<div id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-14\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">2. Calculate Your Income</span></h3>\n<p id=\"mntl-sc-block_1-0-15\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">How much income can you expect each month? If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income (or take-home pay) amount is fine. If you are self-employed or have outside sources of income, such as child support or Social Security, include these as well. Record this total income as a monthly amount.</span></p>\n<div id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-16\" 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><span style=\"color: #000000;\">If you have a variable income (for example, from a seasonal or freelance job), consider using the income from your lowest-earning month in the past year as your baseline income when you set up your budget.</span></p>\n<p><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">3. Create a List of Monthly Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-18\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Write down a list of all the expenses you expect to have during a month. This list could include:</span></p>\n<div id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-19\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Mortgage payments or rent</span></li>\n<li><span style=\"color: #000000;\">Car payments</span></li>\n<li><span style=\"color: #000000;\">Insurance</span></li>\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Utilities</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Personal care</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Childcare</span></li>\n<li><span style=\"color: #000000;\">Transportation costs</span></li>\n<li><span style=\"color: #000000;\">Travel</span></li>\n<li><span style=\"color: #000000;\">Student loans</span></li>\n<li><span style=\"color: #000000;\">Savings</span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-20\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Use your bank statements, receipts, and credit card statements from the last three months to identify all your spending.</span></p>\n<div id=\"mntl-sc-block_2-0-37\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">4. Determine Fixed and Variable Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-22\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Fixed expenses are those mandatory expenses that you pay the same amount for each time.<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-10\">2</span> Include items like mortgage or rent payments, car payments, set-fee internet service, trash pickup, and regular childcare. If you pay a standard credit card payment, include that amount and any other essential spending that tends to stay the same from month to month.</span></p>\n<div id=\"mntl-sc-block_2-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-23\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you plan to save a fixed amount or pay off a certain amount of debt each month, also include savings and debt repayment as fixed expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-24\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Variable expenses are the type that will change from month to month, such as:</span></p>\n<div id=\"mntl-sc-block_2-0-44\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul id=\"mntl-sc-block_1-0-25\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<li><span style=\"color: #000000;\">Groceries</span></li>\n<li><span style=\"color: #000000;\">Gasoline</span></li>\n<li><span style=\"color: #000000;\">Entertainment</span></li>\n<li><span style=\"color: #000000;\">Eating out</span></li>\n<li><span style=\"color: #000000;\">Gifts<span class=\"mntl-inline-citation mntl-dynamic-tooltip--trigger\" data-id=\"#citation-11\">3</span></span></li>\n</ul>\n<div id=\"mntl-sc-block_2-0-46\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-47\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-26\" 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_1-0-3\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you don\'t have an emergency fund, include a category for \"surprise expenses\" that might pop up over the month and derail your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-27\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Start assigning a spending value to each category, beginning with your fixed expenses. Then, estimate how much you\'ll need to spend per month on variable expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-49\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-28\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re not sure how much you spend in each category, review your last two or three months of credit card or bank transactions to make a rough estimate.</span></p>\n<div id=\"mntl-sc-block_2-0-51\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">5. Total Your Monthly Income and Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-30\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your income is higher than your expenses, you are off to a good start. This extra money means you can put funds towards areas of your budget, such as retirement savings or paying off debt.</span></p>\n<div id=\"mntl-sc-block_2-0-54\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-55\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-31\" 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_1-0-4\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you have more income than expenses, consider adopting the “50-30-20” budgeting philosophy. In a 50-30-20 budget, \"needs,\" or essential expenses, should represent half of your budget, wants should make up another 30%, and savings and debt repayment should make up the final 20% of your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-32\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If your expenses are more than your income, that means you are overspending and need to make some changes.</span></p>\n<div id=\"mntl-sc-block_2-0-57\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h3 id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block mntl-sc-block-subheading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-subheading__text\" style=\"color: #000000;\">6. Make Adjustments to Expenses</span></h3>\n<p id=\"mntl-sc-block_1-0-34\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you\'re in a situation where expenses are higher than income, find areas in your variable expenses you can cut. Look for places you can reduce your spending—like eating out less—or eliminate a category—like canceling your gym membership.</span></p>\n<div id=\"mntl-sc-block_2-0-60\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-61\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp theme-experttipimportant 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_1-0-5\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If your expenses are far above your income, or you have significant debt, reducing your variable expenses may not be enough. You may need to trim your fixed expenses and increase your income to balance your budget.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-36\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Aim to have your income and expense columns to be equal. This equal balance means all of your income is accounted for and budgeted toward a specific expense or savings goal.</span></p>\n<div id=\"mntl-sc-block_2-0-63\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-64\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How to Use Your Budget</span></h2>\n<p id=\"mntl-sc-block_1-0-37\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">After you have set up your budget, you must monitor and continue to track your expenses in each category, ideally every day of the month. The same budgeting spreadsheet or app used to make your budget can also be used to record your expense and income totals.</span></p>\n<div id=\"mntl-sc-block_2-0-66\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-38\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Recording what you spend throughout the month will keep you from overspending and help you identify unnecessary expenses or problematic spending patterns. Take a few minutes each day to record your expenses, rather than putting it off until the end of the month.</span></p>\n<div id=\"mntl-sc-block_2-0-68\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<div id=\"mntl-sc-block_2-0-69\" class=\"comp mntl-sc-block money-sc-block-callout mntl-block\" style=\"text-align: left;\">\n<div id=\"mntl-sc-block_1-0-39\" 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_1-0-6\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p><span style=\"color: #000000;\">If you\'re not confident that you can budget your money, adopt the envelope system where you divide cash for spending into separate envelopes for different spending categories. When an envelope becomes empty, you\'ll have to stop spending in that particular category.</span></p>\n</div>\n</div>\n</div>\n<p id=\"mntl-sc-block_1-0-40\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">As you use your budget, keep an eye on how much you have spent. Once you have reached your spending limit in a category, you will either need to stop that type of spending for the month or move money from another category to cover additional expenses.</span></p>\n<div id=\"mntl-sc-block_2-0-71\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-41\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Your goal in using your budget should be to keep your expenses equal to or lower than your income for the month.</span></p>\n<div id=\"mntl-sc-block_2-0-73\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-74\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Review and Tweak</span></h2>\n<p id=\"mntl-sc-block_1-0-42\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Circumstances change. Our priorities shift, we change jobs, we move, we have children. Make an appointment with yourself every few months to sit down with your budget and make sure it’s working for your current goals and realities.</span></p>\n<div id=\"mntl-sc-block_2-0-76\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-43\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">If you’ve already got your numbers plugged into a program or website, it’s easy to play around with your budget categories to see where you can create extra room or prioritize one thing over another.</span></p>\n<div id=\"mntl-sc-block_2-0-78\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<p id=\"mntl-sc-block_1-0-44\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Remember, your budget needs to work for you, not the other way around.</span></p>\n<div id=\"mntl-sc-block_2-0-80\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<h2 id=\"mntl-sc-block_2-0-81\" class=\"comp mntl-sc-block money-sc-block-heading mntl-sc-block-heading\" style=\"text-align: left;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">General Budgeting Tips</span></h2>\n<p id=\"mntl-sc-block_1-0-45\" class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\"><span style=\"color: #000000;\">Once you have set up a basic budget, customize it according to your financial situation and goals.</span></p>\n<div id=\"mntl-sc-block_2-0-83\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\" style=\"text-align: left;\"></div>\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\" style=\"text-align: left;\">\n<ul class=\"comp text-passage mntl-sc-block mntl-sc-block-html\">\n<li><span style=\"color: #000000;\">If you work on commission, be aggressive in saving to help cover periods when the market is slow.</span></li>\n<li><span style=\"color: #000000;\">If you have cash flow issues because you are paid only once a month, divide that payment by weeks, and keep the cash you planned to spend in remaining weeks in a separate account until you need it.</span></li>\n<li><span style=\"color: #000000;\">Pay with a credit card only if you will have the money to pay it off at the end of the month. Otherwise, you will owe interest on top of the price of whatever you bought.</span></li>\n<li><span style=\"color: #000000;\">Adjust your budget monthly if you find you overestimated or underestimated your expenses. Keep an eye on large expenses that only occur every few months, such as insurance payments.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">If you tend to overspend in certain categories, use budgeting hacks such as switching to a cash-only budget.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Once your expenses are lower than your income, budget towards savings goals before you increase your spending.</span></li>\n<li style=\"text-align: left;\"><span style=\"color: #000000;\">Take time to learn other financial skills to improve your financial literacy and make your money work harder for you.</span></li>\n</ul>\n</ul>\n<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.thebalance.com/how-to-make-a-budget-1289587\">click here</a><span style=\"color: #000000;\">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','1506-revision-v1','','','2021-05-20 21:35:33','2021-05-20 21:35:33','',1506,'http://smartinsurance.tips/1506-revision-v1/',0,'revision','',0),(1760,1,'2021-06-21 20:56:10','2021-06-21 20:56:10','<!-- wp:image {\"id\":1600,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-15-1024x536.png\" alt=\"\" class=\"wp-image-1600\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>I’ve had a valid driver’s license for 11 years with a perfectly clean record – no accidents, no speeding tickets, and not even a warning – so I was completely blindsided the day my SUV was rocked by the sound of a truck colliding into my driver’s side door, almost taking off the front bumper of my car. My kids and I were completely fine, but since it was my first accident, I was in a state of shock as I pulled my car into a nearby parking lot. Oddly, it wasn’t the fear of getting hurt, or the concern for my car that stands out about that day, but the disconcerting feeling of being in unfamiliar territory with no idea what to do. Immediately the other driver was out of his car and at my door, which wouldn’t open from the inside. I had to climb out of the passenger-side door to meet him, and he was ready for a fight. It was then that I had my “baptism by fire” and had to learn how to deal with car accidents, auto insurance, and other drivers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Lessons Learned From a Minor Car Accident</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While every situation is different, there are at least five important things to consider when you experience an accident. By taking the time to think about them in advance, you can save yourself mountains of grief in the event that an accident takes place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>1. Watch Your Words</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>“Admit it was your fault” were the first words out of the other driver’s mouth. Call it the Canadian in me, but my first instinct was to apologize profusely, even though I knew it wasn’t my fault. From what I could gather, I had been in the left turn lane when the truck crossed over from the right lane, trying to turn without checking his blind spot. Luckily, I clamped my mouth shut and ignored the man as I checked on my daughter. But I was confused – why was he insisting that I say it was my fault before we even assessed what happened? When I didn’t respond, the man got on the phone to report the accident to the police – the right thing to do. Soon after, an officer showed up and began working on his report. While the officer walked around the vehicles to assess the damage, the other driver kept needling me, “So, you admit it was your fault, right? Just say it was!” I simply said “I don’t know.” When the cop overheard the man, he chastised him for his behavior. The officer then took me aside and told me that in the event of an accident I should only exchange insurance information, and should never accept fault. I know this may sound naive,&nbsp;but I had no idea<em>.&nbsp;</em>The police officer let me know that the insurance companies would manage everything, and I didn’t need to answer the other driver’s questions. I learned two important lessons that day: You should never accept fault at the scene of an accident, and you should watch your words when speaking to the other driver. Getting upset, yelling, and placing blame only made the other man look bad to the police officer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>2. Treat Law Enforcement as an Ally</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I was so relieved when the police officer showed up to take his report, mostly because I knew that determining fault was out of my hands. I&nbsp;began thinking of the officer as my ally – someone who would keep me safe and determine fault from a neutral perspective. I’ll confess that I was visibly shaken when the officer arrived, so it was hard for me to explain exactly what happened. I did my best, and he pieced together the rest based on the damage done to our respective vehicles. He knew that the other car had turned into me due to the tire damage along the side of my car. The other driver wasn’t pleased to give his side of the story. He was despondent about the accident, combative about my role in it, and downright angry when he received a citation. I wouldn’t go as far as to say that he wouldn’t have received the citation had he been more cooperative, but I do think that his attitude toward the officer affected the final report sent to our insurance companies. When speaking with a police officer at the scene of an accident, remember these points about making your statement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Tell the officer the direction in which you were headed.</li><li>Note any signaling you saw or used before acting (e.g., a turn signal).</li><li>Mention any injuries that you or those in your car experienced due to the collision (including soreness or whip lash).</li><li>Share details about what you did leading up to and following the accident, without making assumptions about the actions of the other driver. For instance, you shouldn’t say, “I guess he forgot to signal and wanted to turn left.” This type of statement could be completely incorrect, and it makes you look like you’re placing blame.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Be honest and calm when giving your statement – law enforcement is your friend in these situations. As a neutral third-party, a police officer can help sort out the confusion and keep you safe through the process. I know I’m forever grateful for the cop who showed up at my accident scene – he was courteous, helpful, and kind.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>3. Take Pictures and Memorize Details</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While the police officer wrote up his report, he escorted the other driver and me around each of our vehicles. My car sustained most of the damage, with almost the entire front end visibly smashed. The other driver complained that his side mirror was damaged, but the officer recognized that it was merely folded in. That’s when I got out my phone and started snapping pictures. I had a gut feeling that the other driver wasn’t going to play by the rules, and I wanted to be sure that I had all the details right. I snapped pictures of the damage to both cars, pictures of the intersection and traffic signals, as well as pictures of our insurance cards and the other driver’s license plate. I made a point to record and memorize street names and the length of the turning lane. Later, when both insurance companies called to get my side of the story, I pulled up the intersection on Google Earth and was able to give an exact report, knowing that I had all the details right. This only served to further my case, helping show that I was an attentive and conscientious driver. I’ve since downloaded my insurance company’s app onto my cellphone so that I always have quick access to the claims department, as well as an e-copy of my insurance – something I wish I had prior to my accident.&nbsp;Of course you should always have a copy of your insurance in your car, but having one on your phone adds an extra layer of confidence in the event of an accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>4. Choose Your Claim Method</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are several different insurance claim methods you can use to submit a claim:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Not-at Fault Claims</strong>. My insurance company recommended that rather than spending money out-of-pocket to pay for repairs and a temporary rental car, I should have my car repaired through one of their certified body shops that they would cover directly. This would enable them to then work with the other party’s insurance company to have the expenses reimbursed. This saved me the trouble of paying for the repairs and personally working with the other man’s insurance for reimbursement.</li><li><strong>At-Fault Claims</strong>. Had I been at fault, I wouldn’t have been reimbursed for the cost of my deductible. Because the other driver was at fault, his insurance paid my insurance back for the repairs, including my deductible. If you’re at-fault for an accident, your insurance companies will cover the cost of your repairs, but you won’t get your deductible back, and your insurance premiums could increase.</li><li><strong>Total Loss Claims</strong>. If your vehicle is damaged beyond repair, or if the repairs cost more than your car is worth, you’re probably eligible for a claim that covers your total loss. This amount is determined based on the make, model, year, and condition of your car. In this event, you simply fill out an information packet that your insurance company sends to an agent who inspects your car to confirm that it is a total loss. The insurance then cuts a check for you.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Because of my situation, I filed a not-at-fault claim, choosing to have my insurance company arrange and pay for the repairs. There are a few clear benefits to this choice:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Your insurance company has a vested interest in making sure you’re satisfied with their service, so they work much faster than an insurance company for whom you aren’t a customer.</li><li>The claims process can take months. In my case, the other driver continued to fight the fault assigned to him, so it ended up going into arbitration – a method by which a neutral third party is assigned to look over the case, assess police reports and costs, and assign fault.&nbsp;The arbitrator eventually found in my favor, but if I had paid out-of-pocket for repairs, it would have taken almost a year before I recouped my costs. I’m glad I was only out a $500 deductible for that long, rather than thousands of dollars in repairs.</li><li>The repair process was relatively painless. I dropped my SUV off at the body shop, paid my deductible, and all the repair invoices were then submitted to and paid by my insurance company. I didn’t have to keep receipts, shop around for the best deal, or pay more than the initial deductible.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Not all claims go this smoothly, but given the choice between having my insurance company take care of everything, or paying for it myself, then working with my insurance company to be compensated&nbsp;through the other driver’s insurance company, the in-house method was definitely easier. Still, it’s a good idea to ask your claims adjuster which method works best for your situation. There’s no one-size-fits-all solution, and your adjuster might suggest a different route based on the other driver’s insurance, the extent of the damage, and your own level of insurance coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>5. Stay Calm</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I didn’t feel like staying calm while working through the aftermath of my accident. From the accident’s initial shock, to the months of dealing with insurance companies, to the constant conflicting stories being issued by the other driver, it was tempting to fly off the handle and tell the other driver’s insurance just what I thought of him. But if there’s one thing that I learned through the experience, it’s that you catch more flies with honey than with vinegar. Car accidents are awful, but getting upset, yelling, placing blame, and pointing fingers won’t serve you well. The police officer and claims adjusters I worked with responded well to a calm voice and a practical attitude. In my case, the other driver tried contacting me several times after the accident was deemed his fault. I ignored the calls and checked with my insurance company. Sure enough, they let me know that there’s no reason for the people involved in the accident to speak to one another after the accident – all communication should go through the insurance companies. By keeping a steady head, the stress of the accident and its aftermath do eventually subside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Final Word</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>I feel lucky that no one was hurt and that my SUV has since been repaired and is running smoothly. It was actually the mental aspect of the experience that I found most difficult. While I wish I had been more prepared, I’m glad for what it’s taught me. For one, I’m a much more attentive and defensive driver, and that’s a good thing. What’s more, I have a better understanding of the insurance process and I now know what to say (and what not to say) if I ever find myself in a similar situation again. Have you ever been in a car accident? What did the experience teach you?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.moneycrashers.com/what-to-do-after-car-accident/\">click here</a>.</p>\n<!-- /wp:paragraph -->','What to Do After a Car Accident? 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class=\"wp-image-1510\"/><figcaption>fafdafa</figcaption></figure>\n<!-- /wp:image -->','This is the page','','inherit','closed','closed','','1539-revision-v1','','','2021-05-25 00:17:59','2021-05-25 00:17:59','',1539,'http://smartinsurance.tips/?p=1540',0,'revision','',0),(1541,1,'2021-05-25 00:19:11','2021-05-25 00:19:11','<!-- wp:image {\"id\":1510,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1510\"/><figcaption>fafdafafdafaf</figcaption></figure>\n<!-- /wp:image -->','This sis a test page','','publish','closed','closed','','this-sis-a-test-page','','','2021-05-25 00:19:12','2021-05-25 00:19:12','',0,'http://smartinsurance.tips/?page_id=1541',0,'page','',0),(1542,1,'2021-05-25 00:19:11','2021-05-25 00:19:11','<!-- wp:image {\"id\":1510,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1510\"/><figcaption>fafdafafdafaf</figcaption></figure>\n<!-- /wp:image -->','This sis a test page','','inherit','closed','closed','','1541-revision-v1','','','2021-05-25 00:19:11','2021-05-25 00:19:11','',1541,'http://smartinsurance.tips/?p=1542',0,'revision','',0),(1543,1,'2021-05-25 02:01:31','2021-05-25 02:01:31','<!-- wp:divi/placeholder /-->','test 2','','publish','closed','closed','','test-2','','','2021-05-25 02:01:37','2021-05-25 02:01:37','',0,'http://smartinsurance.tips/?page_id=1543',0,'page','',0),(1544,1,'2021-05-25 02:01:31','2021-05-25 02:01:31','<!-- wp:divi/placeholder /-->','test 2','','inherit','closed','closed','','1543-revision-v1','','','2021-05-25 02:01:31','2021-05-25 02:01:31','',1543,'http://smartinsurance.tips/?p=1544',0,'revision','',0),(1545,1,'2021-05-25 02:07:21','2021-05-25 02:07:21','<!-- wp:divi/placeholder /-->','test 3','','publish','open','open','','test-3','','','2021-05-25 02:07:26','2021-05-25 02:07:26','',0,'http://smartinsurance.tips/?p=1545',0,'post','',0),(1546,1,'2021-05-25 02:07:21','2021-05-25 02:07:21','<!-- wp:divi/placeholder /-->','test 3','','inherit','closed','closed','','1545-revision-v1','','','2021-05-25 02:07:21','2021-05-25 02:07:21','',1545,'http://smartinsurance.tips/?p=1546',0,'revision','',0),(1627,1,'2021-06-08 23:39:32','2021-06-08 23:39:32','<!-- wp:image {\"id\":1628,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1628\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Financial health is a term used to describe the state of one\'s personal monetary affairs. There are many dimensions to financial health, including the amount of savings you have, how much you’re putting away for retirement, and how much of your income you are spending on fixed or non-discretionary expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>KEY TAKEAWAYS</strong><br>The state and stability of an individual\'s personal finances and financial affairs are called their financial health.<br>Typical signs of strong financial health include a steady flow of income, rare changes in expenses, strong returns on investments, and a cash balance that is growing.<br>To improve your financial health, you need to assess your current net worth, create a budget you can stick to, build an emergency fund, and pay down your debts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">Understanding Financial Health</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Financial experts have devised rough guidelines for each indicator of financial health, but each person\'s situation is different. For this reason, it is worthwhile to spend time developing your own financial plan to ensure that you are on track to reach your goals and that you’re not putting yourself at undue financial risk if the unexpected occurs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-8\">Measure Your Financial Health</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">To get a better grasp of your financial health, it might help to ask yourself a few key questions—consider this a self-assessment of your financial health:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-11\"><li>How prepared are you for unexpected events? Do you have an emergency fund?</li><li>What is your net worth? Is it positive or negative?</li><li>Do you have the things you need in life? How about the things you want?</li><li>What percent of your debt would you consider high interest, such as credit cards? Is it more than 50%?</li><li>Are you actively saving for retirement? Do you feel you’re on track to meet your long-term goal?&nbsp;</li><li>Do you have enough insurance coverage—whether it be health or life?</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-13\">How Financial Health Is Determined</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An individual’s financial health can be measured in a number of ways. A person’s savings and overall net worth represent the monetary resources at their disposal for current or future use. These can be affected by debt, such as credit cards, mortgages, and auto and student loans. Financial health is not a static figure. It changes based on an individual’s liquidity and assets, as well as the fluctuation of the price of goods and services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, an individual’s salary might remain constant while the costs for gasoline, food, mortgages, and college tuition increase. Despite the good state of their initial financial health, the person may lose ground and lapse into decline if they do not keep pace with rising costs of goods.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Typical signs of strong financial health include a steady flow of income, rare changes in expenses, strong returns on investments that have been made, and a cash balance that is growing and is on track to continue to grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Improving Your Financial Health Budgeting</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">To improve your financial health, you must first take a hard, realistic look at where you’re currently at. Calculate your net worth and figure out where you stand. This includes taking everything you own, such as retirement accounts, vehicles, and other assets and subtracting any and all debts.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Budgeting Emergency Fund Debt</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Then you need to create a budget. With your budget, it’s not enough just to plan for where you’ll be spending, but it’s also important to take a hard and close look at where you already spend. Are there areas where you could cut back? Recurring subscriptions that you don’t really need—such as cable? It’s fortuitous to understand what your “needs” are versus what your “wants” are.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Use spreadsheets or mobile apps to help set up a budget. Or, use the time-tested envelope method, which has you create an envelope for each budget item, such as groceries, and keeping the allocated cash in the respective envelope.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One of the major keys to a budget, and maintaining your financial health, is to stick to your budget regardless of whether you start making more money or bringing in more income. Lifestyle creep, which includes spending more money as you make more money, is detrimental to your financial health.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Emergency Fund</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Building an emergency fund can materially boost your financial health. The fund is meant to be money that is saved and readily available for emergencies, such as car repairs or job loss. The goal should be to have three to six months’ worth of living expenses in your energy fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Debt</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Pay down your debt. Use either the avalanche or snowball methods. The avalanche method suggests paying as much as possible toward the highest interest debt while paying the minimum on all others. The snowball, meanwhile, suggests taking the smallest debt balance first and then work your way up to the largest debt. There are pros and cons of each; pick the one that works the best for your debt load and your money-handling preferences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-36\">Rules and Tips for Financial Health</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">When it comes to effective personal finance—keeping your financial health in tip-top shape isn’t always easy. We get caught up with living life. However, here are a few quick rules and tips that you can follow to either improve or keep you in good financial health.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-39\"><li>Automate your bill pay and savings—that is, set up automatic transfers to a savings account and auto-pay all your bills.</li><li>Always look for free checking and free accounts.</li><li>Shop around for insurance, cable or and other recurring expenses. This includes if you already have these items.</li><li>Use a budgeting method, such as&nbsp;<a href=\"https://www.investopedia.com/ask/answers/022916/what-502030-budget-rule.asp\">50/30/20</a>, which says you should be spending 50% on needs, 30% on wants and saving 20% of your income. This 20% could include debt reduction if you have high-interest debts.</li><li>Try to limit spending on housing (rent or mortgage) to not more than 40% of your income.</li><li>Invest early and often. That is, try to put 10-15% of your income directly into a retirement account.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-41\">Business Financial Health</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The financial health of businesses can be gauged by comparable factors to assess the viability of a company as a going concern. For instance, if a company has revenue coming in and cash in the bank, yet is spending its resources on new investments in production equipment, office space, new hires, and other business services, it may raise questions about the long-term financial health and survivability of the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If more money is spent that does not contribute to the overall stability and potential growth of the business, it can lead to a decline that makes it difficult to pay regular expenses such as utilities and employee salaries. This may force businesses to freeze or cut salaries in order to give the company the ability to continue operations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,<a href=\"https://www.thebalance.com/what-affects-the-cost-of-car-insurance-527480\"> </a><a href=\"https://www.investopedia.com/terms/f/financial-health.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','What Is Financial Health?','','publish','open','open','','what-is-financial-health','','','2021-06-08 23:40:25','2021-06-08 23:40:25','',0,'http://smartinsurance.tips/?p=1627',0,'post','',0),(1548,1,'2021-05-25 02:14:22','2021-05-25 02:14:22','<!-- wp:image {\"id\":1419,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/Financial-literacy.jpg\" alt=\"\" class=\"wp-image-1419\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><a href=\"https://docs.google.com/spreadsheets/d/1AdbTwPzhoLUSyRcXNZ7NmT_k0ftVA0-TKwnOqJFfntQ/edit#gid=0\">edfasdfdsfsadfsdaa</a></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ve heard it all before, mo money, mo problems. But that doesn’t apply to us entrepreneurs and freelancers, right? I mean, mo money means we’re doing something good. Besides, who has time to review financial documents? That’s why we have accountants.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"15a7\">Well, I hate to break it to you, having a foundational grasp on your business finances is key to entrepreneurial success. Yes, even if you’re running from client to customer looking for that next buck, it’s important — nay, imperative — that you have the sound financial literacy to know what to do with that buck.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"2c26\">In this article, we’re going to explore five ways to build your financial literacy and do so without overwhelming you with facts and equations</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 id=\"8d75\">1. Review your transactions, better yet make a budget</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"6891\">Let’s start off with some general housekeeping. I hope at this point in your entrepreneur/freelancing journey that you’ve opened a separate bank account for your business activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"dd43\">If you are currently mixing business and personal within one account, grasping your business financials is going to be a bit confusing. Also, sorting through your expenses with your accountant at year-end is going to be a nightmare.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"2866\">If you’re looking for simple banking solutions,&nbsp;Novo&nbsp;is what I use for my business banking. They integrate with PayPal and Stripe and there are never any fees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"6134\">Okay, glad we got that sorted out. Now we can focus on honing our financial literacy skills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"261e\">The first step is simple but effective. Review your transactions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"dd3a\">Don’t laugh. Give it a try for a month. Every day, sit down for 5 minutes, log into your business bank account and look at what money is coming in and what money is coming out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"7f5f\">Why is this important? Well, I asked Alex and he told me:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“[Grant Cardone] said that money gets bored, and if it’s around too long, and you’re not paying attention to it, it’ll find somewhere else to go.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"e581\">They say a watched pot never boils. Well, a watched bank account never runs dry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"3631\">As you continue to monitor your daily transactions, a best practice to develop, according to Alex, is matching each transaction to a “source document” (receipts, invoices, etc.) that shows how that transaction originated. It’ll help your accountant at year-end.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"139a\">As they also say: happy accountant, happy life.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 id=\"691c\">2. Know your paperwork</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"dbae\">The next time you want to know the difference between a balance sheet and an income statement, do yourself a favor and don’t ask an accountant. They will 100% geek out and spend the next half an hour talking about double-entry bookkeeping and the historical significance of the Gregorian calendar.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"6178\">What I’ve done instead is put together a quick summary of each. Now, there are actually four main financial statements you should be aware of: balance sheet, income statement, statement of cash flows, and the equities statement. As a small business owner, you most likely will only concern yourself with the first two.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"d17a\">The Balance Sheet</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"a8a9\">The balance sheet is a high-level look at a business’s assets and liabilities, or in other words, what it&nbsp;<em>owns,&nbsp;</em>what it&nbsp;<em>owes, and what’s leftover</em>. Basically, it’s your business’s summary of financial status.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"dd02\">Accountants like to use this sophisticated calculation on the balance sheet:&nbsp;Assets = Liabilities + Equity</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"d1f4\">What does this mean? Think about your personal finances. What you own was financed by liabilities (loans, mortgage, credit cards) or by equity (cash, income, savings).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"72fe\">A healthy balance sheet — or strong balance sheet, as we say in the biz — uses a few ratios to determine its…healthiness (I’m running out of financial adjectives).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Liquidity ratio = Assets/Liabilities</strong>&nbsp;| This tells you whether you can pay back your short-term liabilities. A healthy ratio is above a 1</li><li><strong>Debt-to-equity ratio = Debt/Equity</strong>&nbsp;| This determines if you are financing your business through debt or your own funds. Lower the better.</li><li><strong>Quick ratio = Current Assets (Cash, Invoices)-Inventory/Liabilities</strong>&nbsp;| This shows whether or not you can pay your short-term liabilities with cash or near-cash resources. Higher the better.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"8f92\">That’s enough math for now, let’s talk about the income statement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"77a6\">The Income Statement</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"355f\">You might sometimes hear the income statement referred to as the “profit and loss statement” or the “P&amp;L” if they’ve watched a bit too much&nbsp;<em>Wolf of Wall Street</em>&nbsp;lately.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"cc49\">Again using personal finances as an example, the income statement is sort of like your monthly checking account statement that your bank sends you. Your bank summarizes all the monies that have gone in or out of your account and you get a high-level view of its impact on your account balance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"3915\">Why is the income statement important? Because it shows whether or not you’re profitable. Are you earning more money than you are spending?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"a47f\">Now, if you are a solo-preneur and you’ve set up your S-Corp, chances are profitability isn’t your main goal (I dive a bit more into that in my&nbsp;previous article). However, knowing how much of a salary you can draw is determined by your income statement, aka it’s not wise to pay yourself more than you bring in.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 id=\"a2b1\">3. Set up KPIs to align with your goals</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"c177\">I know, I know, most people pronounce KPI as&nbsp;<em>K-P-I</em>&nbsp;but wouldn’t the business world be a much better place if we pronounced it&nbsp;<em>Kippy</em>&nbsp;instead?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"148d\">Pretty good, right? Save your enthusiasm for the time being, we can put a pin in the discussion and come back to it later.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"5625\">In the meantime, we should talk about what exactly are KPIs — sorry,&nbsp;<em>Kippies</em>&nbsp;— and how do they apply to your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"112a\">KPI stands for&nbsp;<em>Key Performance Indicator</em>&nbsp;and is typically referred to as a metric. A metric is just a number without goals attached to it. For example, a basic metric could be revenue. Let’s say for this tax year you’ve earned $100,000 in revenue. Is that good?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"ca47\">Well, it depends on your goals. If your goal is to be profitable and you spent $200,000 to earn $100,000 then that Kippy ain’t looking so good, is it?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"0f57\">Let’s take a look at what makes a good KPI (yeah, now that I hear it out loud, “Kippy” isn’t doing it for me anymore).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li><strong>A KPI should lead to action.</strong>&nbsp;When you look at your KPI, do you know what action you need to take?</li><li><strong>A KPI should be simple to measure.</strong>&nbsp;If it’s taking you hours to drudge up the numbers, then is it worth it?</li><li><strong>A KPI is current.</strong>&nbsp;Can you make an accurate business decision with old data?</li><li><strong>A KPI is always tied to your main goals.</strong>&nbsp;Are you growing profits, increasing conversion rates, reducing your debts?</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"02ec\">If you’re just starting out as a solo-preneur, pick a few simple KPIs to track such as revenue growth rate or gross profit margin. Don’t track for tracking sake, use them to make better business decisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 id=\"cba4\">4. Understand your tax implications</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"d7f1\">You may be tempted to think that because you are self-employed good ol’ Uncle Sam will go easy on you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eeac\">I’ve already gone in-depth about the merits of electing for the S-Corp to potentially save you thousands of tax dollars (all legal by the way), but I’ll quickly summarize here.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"4151\">Being self-employed means you are responsible for the entire 15.3% cut of Social Security and Medicare tax. When you work a traditional W-2, you only pay half and your employer pays the other half.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"8611\">When you take the S-Corp election, you essentially share the burden of the tax between yourself and your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"8611\">To read the full article, <a href=\"https://blog.bookscaping.com/how-to-beef-up-your-business-financial-literacy-e298da183584\">click here</a>.</p>\n<!-- /wp:paragraph -->','Test4','','publish','open','open','','test4','','','2021-05-25 02:18:17','2021-05-25 02:18:17','',0,'http://smartinsurance.tips/?p=1548',0,'post','',0),(1549,1,'2021-05-25 02:14:22','2021-05-25 02:14:22','','Test4','','inherit','closed','closed','','1548-revision-v1','','','2021-05-25 02:14:22','2021-05-25 02:14:22','',1548,'http://smartinsurance.tips/?p=1549',0,'revision','',0),(1551,1,'2021-05-25 02:15:45','2021-05-25 02:15:45','<!-- wp:image {\"id\":1494,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/04/My-Post-37-1024x536.jpg\" alt=\"\" class=\"wp-image-1494\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>edfasdfdsfsadfsdaa</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfdsfds</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfasdfasd</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfasdfasd</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfasdfasd</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>adfafadsfdsa</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfasdfasdfadsf</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfasdf</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>asdfasdfas</p>\n<!-- /wp:paragraph -->','Test4','','inherit','closed','closed','','1548-revision-v1','','','2021-05-25 02:15:45','2021-05-25 02:15:45','',1548,'http://smartinsurance.tips/?p=1551',0,'revision','',0),(1560,1,'2021-05-31 19:14:29','2021-05-31 19:14:29','<!-- wp:image {\"id\":1563,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-7-1024x536.png\" alt=\"\" class=\"wp-image-1563\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>An injection of a few thousand dollars into your small business could be the difference between eking out a living and growing your company to the next level.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Taking out a small-business loan or line of credit might not be the best option if you want to avoid debt — or can’t qualify for the credit. Bringing on an investor could give you debt-free capital, but you’d have to forfeit a portion of your business. And a small business in need of just a little cash might not be worth an investor’s attention.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A small-business grant could be the cash cow you need. You don’t have to repay these funds or hand over ownership of your company. You can usually find them through nonprofit organizations dedicated to supporting small businesses, nonprofits, and the arts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h.q1cels8qicsg\">Where to Find Small-Business Grants</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Organizations of all kinds offer small-business grants. The simplest way to find small-business grants is to search for “grants + [characteristics of your business].”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also browse these resources that list small-business grants:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.grants.gov/\">Grants.gov</a></strong>. Search for government grants, most of which support nonprofit organizations, government entities, or educational institutions.</li><li><strong><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.sba.gov/funding-programs/grants\">U.S. Small Business Administration (SBA)</a></strong>. This government agency works with community organizations to provide funding, typically for nonprofits and research institutions.</li><li><strong>U.S. Economic Development Administration (EDA)</strong>. Find <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.eda.gov/resources/\">local EDA resources</a>, which could include grant opportunities.</li><li><strong>Small-Business Resources</strong>. Sites like <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.fundera.com/blog/small-business-grants\">Fundera</a> and <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.nav.com/resource/small-business-grants/\">Nav</a> help small businesses find financing, primarily credit and loans, and sometimes list small-business grant opportunities.</li><li><strong>Chamber of Commerce</strong>. Your <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https://www.uschamber.com/\">local Chamber of Commerce</a> is a rich resource for information and community for small-business owners and could direct you to grant opportunities.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>When searching for grants, keep in mind that most grants serve a dedicated purpose, such as supporting a target community, industry, or mission. This reduces your options to only grants that fit your type of business, but it also narrows the competition you face with any grant application.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some small-business grants target underserved communities such as women, people of color, or rural areas. Many serve only nonprofit organizations or projects, and these tend to focus on your impact on social issues like environmentalism, women’s health, or poverty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Grants for the arts could also help your business if you’re primarily a writer, performer, or visual artist. These tend to support individuals, rather than companies, and they apply to a single project, rather than your whole business. So you have to get creative to find arts grants that fit your small business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h.3irsgo6vz3my\">Tips to Apply for a Small-Business Grant</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Whether for a few hundred dollars or tens of thousands, put your best foot forward when applying for a small-business grant. Grant-making organizations want to know their money will benefit their chosen cause or community, and your grant proposal is the way to show them your business can fulfill that goal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Entrepreneurs who’ve received grants to support their businesses offer the following advice.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.ukqfuxuz3kpw\">1. Hire an Experienced Grant Writer</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Writing a grant proposal is a specialized skill, so don’t count on just anyone in your business to handle it. A large grant could make a professional grant writer worth your money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>William Taylor, a career development manager at VelvetJobs, credits hiring an expert with receiving multiple grants at his previous company, Rank Easily. “This helped us stand out from the crowd by coming up with a well-prepared business plan that clearly demonstrated how the grant would benefit our business and satisfy the goals of the grant,” he says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You could find experienced grant writers through contractor job boards and niche communities:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Professional Associations</strong>. Browse member lists or post a job with professional associations for writers.</li><li><strong>Writing Communities on Facebook and LinkedIn</strong>. Many Facebook groups for writers welcome job posts, so seek groups relevant to your needs and industry.</li><li><strong>FlexJobs</strong>. This subscription-based job board helps you find high-quality candidates looking for remote and freelance work.</li><li><strong>Freelance Brokers</strong>. Sites such as Upwork and PeoplePerHour connect employers with freelancers for any role. Freelancers on the platform tend to be less experienced, but you can review their previous work and check ratings from others who’ve hired them before committing.</li><li><strong>Small Business Administration</strong>. Find an SBA center in your area to get small-business assistance, including free resources that could help you write a grant proposal.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Be specific in your listing about the work and the skills you require. It helps filter the candidates who contact you, so you don’t have to sift through too many unqualified writers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To find a strong grant writer, look for:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Grant Writing Experience</strong>. Beyond general writing skill and experience, ask for candidates who’ve specifically written grant proposals — with a bonus for those with a record of securing funding.</li><li><strong>Understanding of Your Industry</strong>. Writers should understand the business you’re in, whether it’s commercial, nonprofit, or the arts. Experience writing grant proposals within your industry means they’ll understand what grant organizations look for.</li><li><strong>Familiarity With Available Grants</strong>. If you plan to apply for several grants, a grant writer who knows what’s available and can help you research requirements and deadlines is an asset.</li><li><strong>Strong Writing Skills</strong>. Ask for a portfolio, and review content they’ve written before. Clear, concise, and clean (grammatically correct, typo-free) writing is a must-have.</li><li><strong>Business or Nonprofit Experience</strong>. If a writer doesn’t have grant writing experience or education, their experience working in a business or organization like yours could help them craft a solid business plan and convey your message in a grant proposal. New writers generally charge less, so you could benefit from hiring someone with less grant writing but other related experience.</li><li><strong>Ability to Meet Deadlines</strong>. Check that your grant writer has the bandwidth to dedicate to your business and get drafts and revisions in on time so that you don’t miss grant deadlines.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.8ynpdffo06ia\">2. Write a Business Plan</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Suchot Sunday, owner at The Curious Frugal and a serial entrepreneur, won a grant for a small organic bakery business. She recommends including a business plan with your grant application because it “will lend a weight to your application that others with only the application will not have.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your business plan should include the following for either the whole business or a specific project, depending on what the grant is for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Business Concept</strong>. What does your business do? What products or services does it provide? What value do you offer your target audience or community?</li><li><strong>Marketing Plan</strong>. Define your audience and marketing strategies. Also describe your competition and how you differ.</li><li><strong>Financials</strong>. Include the nitty-gritty to show grant organizations how you’ll use the money and demonstrate you can manage it responsibly. This should include things like revenue, sales, profit, loss, and profit margins.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>A solid business plan shows the granting organization your business will put its money to good use, explains Lynn Jordan, who received a grant from the Los Angeles Department of Mental Health for her company Joyful Boogie and once worked for a philanthropic foundation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“The grant officer builds their own reputation in the field by the amount of successes they bring to the table,” Jordan says. “If an organization or individual already has proven themselves, then they are considered less of a risk.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.pcr6inx2cgk0\">3. Be Articulate and Specific</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like a job application, your grant application or proposal showcases your competency in your field.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Use proper grammar, spelling and pay attention to formatting. The readers [who choose grantees] have limited time to review,” recommends Romy Taormina, CEO and founder at Psi Health Solutions, Inc., which has received small-business grants including the (now discontinued) Huggies Mom Inspired Grant for $15,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Copy edit and proofread a grant proposal before submitting it. Before hiring an editor, use a writing tool to spot mistakes and weak writing, such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong><a target=\"_blank\" href=\"https://www.grammarly.com/\" rel=\"noreferrer noopener\">Grammarly</a></strong>. Install this free Chrome extension to get recommendations for grammar, spelling, tone, clarity, and word choice wherever you write online — including email, social media, messaging apps, and Google Docs.</li><li><strong><a target=\"_blank\" href=\"http://www.hemingwayapp.com/\" rel=\"noreferrer noopener\">Hemingway Editor</a></strong>. Paste (or compose) copy into this free online editor to detect weak writing, including passive voice, adverbs, and complex words and sentences.</li><li><strong><a target=\"_blank\" href=\"https://prowritingaid.com/\" rel=\"noreferrer noopener\">ProWritingAid</a></strong>. Use this Web editor or plugin for your word processor of choice to improve grammar, spelling, style, and word choice. Install the Chrome extension for free or purchase a license for the software starting at $70 per year.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Then, enlist an editor for a final look and personalized feedback on the proposal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Like the grant writer, an editor is more valuable if they have experience in your industry or knowledge of grant writing. An editor without this experience can do a good job cleaning up your copy, but grant-related experience means they can also help you tailor the language to leave the best impression on grant judges.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you don’t have an editor on your team, find a freelancer through brokers, general job boards, or these editorial organizations:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>ACES: The Society for Editors</strong>. Post to this organization’s job bank for free or browse editors for hire.</li><li><strong>Editorial Freelancers Association</strong>. Submit a job for free or search the member directory for editors.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.wt5d1958enpx\">4. Know Your Competition</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Learn which other businesses — or, at least, what kinds of businesses — apply for the grant so you can figure out what sets you apart.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most grant websites list past and current grant recipients, so start there. Browse businesses that have received the grant you want, and consider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>How Do They Fulfill the Grant Requirements?</strong>&nbsp;Put on your judge’s hat, and determine what about a business made it right for the grant. If some of the grantees surprise you, it could give you some clues as to what the organization looks for.</li><li><strong>How Do They Compare to Your Business?</strong>&nbsp;Does your business feel like a fit with these? Are you in the same industry, of a similar size, in a similar location, serving the same audience or community, sharing goals?</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Also ask around in your network to figure out which other businesses are applying for the grant in the same cycle as you. Tap into professional associations and social media groups for intel. You could even turn it into a friendly competition by trading tips and advice with fellow applicants.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.wps5rjy3uqef\">5. Emphasize Your Impact on the Community or Area of Service</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>“The entrepreneurs and investors that support small businesses and small nonprofit organizations seek to achieve specific causes or benefits for society,” explains Plamen Beshkov, who received a grant for a nonprofit art project for Bulgaria-based Open Space Foundation. Beshkov urges, “Find out whether there’s a need for what you want to achieve with your idea.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Jordan agrees and suggests using as many facts as you can to showcase how your company benefits the area of the grant’s focus.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Present any hard data that is available,” Jordan says. “How many people benefit from this work? Are there any studies to back up this work? Have you already received any accolades for your work? Do your best to present a picture that lets the grant giver know that they are joining in on already established momentum.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Include hard data in your business plan to show you did your research before starting your business. Include data and research studies to answer these questions about the product or service you offer:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>How Big Is the Market?</strong>&nbsp;In other words, how many people want what you sell? For mission-driven grants, also find data to demonstrate the need for your service.</li><li><strong>Who Is Your Target Audience?&nbsp;</strong>Include demographics such as age, location, income, education, family size, marital status, and buying habits of the market you serve.</li><li><strong>How’s the Competition?</strong>&nbsp;How many other businesses offer what you offer? Are they doing well?</li><li><strong>What Is Your Impact?</strong>&nbsp;Include data to demonstrate the progress you’ve already made to serve the target audience. This gives judges a concrete understanding of how grant funds can impact a community through your business.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h.yhd34wcu6ja8\">6. Hone Your Network</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Before seeking funding, put yourself out in the community and industry. Get to know other business owners and the people who work for foundations that support small businesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These connections help you find opportunities, learn what it takes to succeed, and could even directly give you an advantage when you submit an application.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Connect with other business owners in your industry through:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Local SBA centers</li><li>Your city’s Chamber of Commerce</li><li>Facebook and LinkedIn groups</li><li>Professional associations</li><li>Local community and charity events</li><li>Mentorship programs or networks</li><li>Leadership and self-improvement events</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"h.9p47ntdp73sb\">Final Word</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A small-business grant could be a boon to your company or project, but it takes skill to win one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Writing a grant proposal is a professional skill not every business owner or even writer has mastered. You could benefit from hiring professional grant writers and editors to craft a winning business plan and proposal if you’re applying for a large grant or plan to apply for several grants.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Don’t approach your grant application casually. Securing funding requires research and time to develop a strong understanding of what the judges want to see in your proposal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Study what makes a good grant proposal in general and what each grant organization is looking for specifically. This will prevent you from wasting time — yours and the judges’ — by applying for grants that aren’t right for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.moneycrashers.com/how-to-apply-for-small-business-grant/\">click here</a>.</p>\n<!-- /wp:paragraph -->','How to Apply for a Small-Business Grant & Win – 6 Tips for Success','','publish','open','open','','how-to-apply-for-a-small-business-grant-win-6-tips-for-success','','','2021-05-31 19:29:17','2021-05-31 19:29:17','',0,'http://smartinsurance.tips/?p=1560',0,'post','',0),(1561,1,'2021-05-31 19:14:29','2021-05-31 19:14:29','<!-- wp:divi/placeholder /-->','How to Apply for a Small-Business Grant & Win – 6 Tips for Success','','inherit','closed','closed','','1560-revision-v1','','','2021-05-31 19:14:29','2021-05-31 19:14:29','',1560,'http://smartinsurance.tips/?p=1561',0,'revision','',0),(1576,1,'2021-05-31 19:42:00','2021-05-31 19:42:00','<!-- wp:divi/placeholder /-->','The Truth About Tire Treadwear','','inherit','closed','closed','','1575-revision-v1','','','2021-05-31 19:42:00','2021-05-31 19:42:00','',1575,'http://smartinsurance.tips/?p=1576',0,'revision','',0),(1563,1,'2021-05-31 19:15:37','2021-05-31 19:15:37','','My-Post-7','','inherit','open','closed','','my-post-7','','','2021-05-31 19:15:37','2021-05-31 19:15:37','',1560,'http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-7.png',0,'attachment','image/png',0),(1578,1,'2021-05-31 19:44:35','2021-05-31 19:44:35','','My-Post-9','','inherit','open','closed','','my-post-9-2','','','2021-05-31 19:44:35','2021-05-31 19:44:35','',1575,'http://smartinsurance.tips/wp-content/uploads/2021/05/My-Post-9.png',0,'attachment','image/png',0),