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With the ability to generate funds quickly, life insurance can help reduce the burden of a family member’s death by eliminating debt and offering funds for ongoing expenses. So whether you just want to make sure the bills get paid—or you have more complicated goals, such as philanthropy or special needs planning—it’s worth knowing where life insurance might fit in. What Is an Estate? An estate consists of any property that you leave behind after death....

Buying life insurance is an important aspect of any financial plan. The proceeds of a life insurance policy can help your family continue their lifestyle, achieve their goals, replace your income, or simply pay your funeral and burial expenses. The insurance industry offers several types of life insurance policies. Choosing the right type of policy and the best level of coverage isn’t always easy. Understanding the different types of life insurance and how they work can help you decide which, if any, are best for your needs....

Let’s take a look at how and when to use your VA loan as well as how many times you can take advantage of this product. Who Can Get a VA Loan? The VA has very specific criteria that you’ll need to meet to be eligible for a VA loan. These differ depending on what time period you served and whether you were on active duty, in the reserves, or in the National Guard....

However, paying extra on your mortgage isn’t the only way to reach your financial goals, and it might not always be the right move. Here’s what you need to know before making extra mortgage payments. Why Make Extra Mortgage Payments? As long as you’re honoring your existing mortgage payments, you shouldn’t feel obliged to use any extra cash to pay down the mortgage. That said, doing so does offer some significant benefits, and it could ultimately save you money in the long run....

Buyer’s agents generally include any costs they want the seller to pay in the purchase contract, so sellers are forewarned. However, not all costs are customary and many are discretionary, so sellers should clarify with their own agents which fees they should pay, which they should pass to the buyer, and whether any can be skipped altogether. Selling a home is not always intuitive either—you won’t pay for the new buyer’s insurance, title registration, or taxes when selling a car, for instance, but selling a home is vastly different....

Still, some insurers are wary of certain breeds that have aggressive reputations, like pit bulls, chows, and german shepherds. For a better understanding, we break down how owning pit bulls and certain other breeds affects your existing liability insurance coverage, and alternative options if you’re denied coverage because of your pet’s breed. Why Dog Breed Matters to Insurers As a pet owner, you could be held legally liable if your dog injures someone or causes property damage to nonoccupants of your home....

No longer used, like a buggy whipOut of date or old-fashioned, like a pair of bell-bottomed trousers from the 1970sNo longer wanted, even if it still works, like that old printer that you hate to throw out because your new computer won’t talk to it. The term “obsolete” comes from the Latin for “grown old, worn out.” In our 21st-century business environment, obsolete often refers more to technological than physical wearing out....

The problem with performance history is that we don’t invest backward; we invest forward and there is more to analyzing a mutual fund than reviewing past performance. In fact, the best indicators of future performance include factors that many investors overlook. There are other important factors, such as manager tenure, expense ratio, turnover ratio, and tax efficiency to analyze and compare before buying a mutual fund: Analyze Mutual Fund Performance If you are going to analyze historical returns, you need to do it right....

What the Interviewer Really Wants to Know An employer will ask this question (and other questions about failure) for a number of reasons. Firstly, she or he may want to test your ability to cope with failure. Secondly, she or he may want to see whether or not you are willing to push yourself (through failure) to become a better employee. When answering this question, you want to acknowledge that failure does happen, but emphasize that when you fail, you always learn from your mistakes, and become a better employee as a result....

Here are some of the different types of interview questions without a right answer, with tips for giving the best responses. Types of Interview Questions Without a Right or Wrong Answer There are three different types of interview questions without a right answer: Hypothetical questionsOpen-ended questionsBehavioral questions Hypothetical Interview Questions Hypothetical questions like, “How would you calculate the amount of toilet paper required to span the state of New Jersey?...

You’ll be able to apply online for jobs with most large employers. Depending on the job and the employer, using an app on your smartphone or tablet may be another option for submitting an application. Some companies, especially smaller ones, ask applicants to email their resume and cover letter. And for some jobs, especially part-time, hospitality, and retail positions, you may be able to apply in person. Here’s information on the best options for applying for jobs, the information you will need to complete job applications, how to apply, and the top sites to use for an effective job search....

No matter your personal situation, you may feel overwhelmed by the inevitable spending you will be doing, especially when it comes to paying rent. However, there are many steps you can take to lower costs enough for your budget to accommodate your living arrangement. Learn how here. Importance of Budgeting for an Apartment Depending on where you live, you might find that renting is more expensive than you originally anticipated....

The cost of goods sold (COGS) is the cost related to the production of a product during a specific time period. It’s an essential metric for businesses because it plays a key role in determining a company’s gross profit. Learn more about how businesses use the cost of goods sold in financial reporting, and how to calculate it if you need to for your own business. What Is the Cost of Goods Sold (COGS)?...

Because operating income factors into a business’s profits and overall finances, it’s important to understand how it works in order to help you determine your business’s financial standing and make better business decisions. What Is Operating Income? The amount of profit a business makes after considering all expenses from operating the business is known as operating income. It is the income reported after the total operating expenses are subtracted from revenue, which is the total income a business earns from sales and non-sales activities such as investments....

The average person changes jobs 10 to 15 times over the course of their career the median number of years an employee with their employer was 4.1 years in January 2020. The Department of Labor doesn’t track how often people change to an entirely new career, however—and the reason why will give you hope for your own career change. In short, the Bureau of Labor Statistics doesn’t track career changes because there’s no real consensus about what it means to change careers....

Fortunately, since credit card accounts are often tied to your personal information, like your Social Security number, you can still close the credit card without having the account number. If the credit card still has a balance, it’s a good idea to pay off the balance before closing the account. Once you contact the credit card issuer, make sure they have your correct billing address on file and have a credit card statement mailed to you so you can verify the amount and pay off the balance....

Learn more about how to create a frugal budget—from getting started with the materials you need, to the steps you need to take, to sticking to your budget and making it a habit. You can expect to spend from one to three hours working on this budget. What You Need A list of your billsTally of your incomeCalculatorPen or pencilPaper Making Your Budget Breaking down the budgeting process into smaller chunks can make it feel more manageable....

The question is what do the 10 percent do that the 90 percent don’t? There are many factors that go into whether or not goals are reached, but two important components are 1) a plan, and 2) commitment to work the plan. If you’re ready to realize your goals, here’s how to create a plan. 1. Make Sure Your Goals Are SMART SMART goals give you clarity and a deadline for achieving them....

Neglecting to compile financial projections for your business may signal to investors that you’re unprepared for the future, which may cause you to lose out on funding opportunities. Read on to learn more about financial projections, how to compile and use them in a business plan, and why they can be crucial for every business owner. Understanding Financial Projections and Forecasting Financial forecasting is an educated estimate of future revenues and expenses that involves comparative analysis to get a snapshot of what could happen in your business’s future....

Learn about what your business can and can’t deduct, the limits on those deductions, and how to take those deductions on your business or personal tax return. Charitable Deductions for Small Businesses If you report your business taxes as part of your personal tax return, you are considered a pass-through business. This includes sole proprietors, limited liability members, partners in partnerships, and S corporation shareholders. In this case, you can take charitable deductions on your Form 1040, Schedule A....