A recent survey carried out by New York Life analyzed life insurance protection before and after the Great Recession. The study revealed that most Americans had life insurance cover equating to three years’ worth of earnings. However, it also found that the gap in protection has widened significantly. The study reported that Americans wanted their life insurance to support them financially for at least 14 years after the loss of a breadwinner. Yet in reality, these individuals only had protection in place for a maximum of three years.
Not many people relish thinking about the inevitability of death. Death often comes unannounced and brings with it a host of changes. The situation is even worse if the deceased is the principal earning member of the household.
Upon the New Year many people aim to do things they wish to do, but when it comes to financial resolutions, there might be things that you are better off avoiding. Here’s a list of bad money habits you should avoid.
About 51% of those who made financial New Years resolutions in '14 improved their by the end of the year as opposed to 38% of those who did not make resolutions. Take control of your finances in '15 by acting on these 10 amazing resolutions.