Parenthood comes with a lot of responsibility and that weight is amplified if you’re among the 23% of single parent homes in the U.S. As a single parent, managing your finances and getting to a point where you feel comfortable are important as you take care of yourself and your family. Though your budget may be smaller than those in two-income households, there are many things you can do now and going forward to set yourself up for success and protect your family’s future.
Understanding Renter and Homeowner Insurance
Like most insurance types, renter and homeowner insurance policies are often glossed over and/or unfamiliar until you’re dealing with an issue such as your kitchen flooding or someone breaking into your car. These policies are important to your financial well-being because they provide protection for both your home’s structural issues and the possessions inside your home. Depending on the landlord, carrying renter’s insurance may be required as a part of your lease. If you own your home and have a mortgage, your bank will very likely require you to have homeowner’s insurance. A 2016 survey by the Opinion Research Center determined that only 41% of renters carry insurance as compared to 95% of homeowners. Such a divide is surprising considering that accidents can happen at any moment, regardless of whether you own or rent, and they can be very expensive to cover out of pocket.
Let’s explore the common benefits and limitations of these types of insurance. [Read more…]
How to Protect Assets in a Divorce
It’s no secret that 2020 was a stressful year for many. With social outlets few and far between, relationships of all kinds were put to the test, especially for those living together. In some cases, the stress of social distancing, shut down measures, and financial concerns amongst the backdrop of a pandemic were simply too much to overcome. Divorce is on the rise around the world. While we hope that love lasts a lifetime, it’s important to consider how a divorce could affect your financial security and future as well as any dependents.
All About Pet Insurance
We all know the importance of having health insurance for ourselves and our families, but what about for our four-legged family members – our pets?
Health Insurance Enrollment Explained, Including Medicare
Whether you’re eligible for Medicare, signing up for employer-sponsored healthcare, or finding an individual plan on the marketplace, health insurance can be one of those topics that finds its way to the bottom of our to-do list and makes us all sigh.
Understanding your health coverage options can be a daunting task to navigate, but avoidance can have real consequences to your health and well-being! It’s important to be mindful of what coverage you need, annual enrollment and change periods, and potential penalties of missing deadlines in order to ensure you’re signed up on time for a plan that fits your needs.
