Budget Tips for College Students

students saving money

A few weeks from now, college students will be back to their classrooms, and we will also welcome heavy traffic on the roads. For workers or non-students, it is the start of the long months of being more patient on traveling. On the other hand, some students are all hyped up or maybe too tired to go back to school. Surely even if you are already finished taking classes, you have remembered whether you are the excited one or the “please extend our vacation kid.”

Whoever you are on the spectrum, one thing’s for sure: you want to save a couple of bucks in school. We have different reasons why we need to budget our money effectively and here are some tips on how you can achieve your goal:

Make use of your school’s fast Internet

I understand how hard it is for you to do paper works especially thesis without a WiFi LTE connection since most of the up-to-date facts and information you need are online. What you can do is to connect to your school’s Internet or maybe rent a computer in your library and download all the files you need to read or analyze. Trust me. I survived college without having a stable Internet connection at home. We only load our prepaid connection from time to time that is way cheaper than availing a full-contract service of Internet, and you will seldom use it.

Cook food at home and bring it to school

It can be your mom, dad, sibling or guardian who cooks at home, and it can be you! Aside from saving some money on buying expensive food at the cafeteria or canteen, you will be enjoying freshly prepared meals which are made with love and can fill your stomach (and heart and also your tired brain). It is also fun to share your baon with your colleagues.

Or eat outside your campus

And I am talking about carinderia or small food stalls. If you want to save, you know that high-end restaurant or eating at fast food chains every day won’t do you any good. Ditch those fancy places and start looking for the ones who offer budget meals for students.

PDF and online copy of books will save you

Have a soft copy but be sure that you are allowed to use it for the class (not to mention these copies should be legal). If there’s no problem with that, congratulations for saving some money! However, some people still prefer to have their readings printed or in hardcopy.

Reuse, recycle and reduce your things for school

In whatever we do and wherever we are, we should not forget the three golden R’s. If you have old things you can still use, don’t buy and reuse those. Have some time to DIY stuff you need at school? Improvise don’t buy. Reduce purchasing unnecessary new things if you can still make the most out of what you have.

Sell things you are sure you won’t need anymore

This could be your old books, uniform, gadget, to name a few. Again, know that you don’t need them anymore. You don’t want to regret selling things and wanting them back after a couple of weeks or years. This is not actually a budget saver but more on an income-generating move.

Maximize your school’s perks and benefits

Know your rights and privileges at school. If you can avail of some products and services for free or at a lower cost at school, go for it instead of buying and going to outside stores. Don’t be timid to ask your admin about the perks and benefits you as a student can enjoy.

different jars for money saved

It is never too late to start saving for your dream gadget, vacation, target amount saved, or whatnot. So gear up and have fun with a new school year ahead of you!

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Four Basic Insurance Mistakes to Avoid

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“You would not cancel your insurance policy in the middle of a hurricane; you should not sell silver when it takes a tumble. Like any insurance, silver’s value will pay out over time, not day by day.” -Howard Ruff

Insurance is the metaphorical safety net you purchase to protect your family and yourself should any untoward incidents happen. While many have largely resisted getting themselves one seeing no absolute need for it, there has been a massive influx of individuals availing themselves of insurance policies. Most individuals make the mistake of not insuring themselves as they see this as an extra expense whose payoffs they do not get to enjoy unless they die or sick. In other words, they see insurance policies as physical manifestations of delayed gratification.

However, the reality is, having yourself insured is a significant investment and is actually more cost efficient—just think of the piling bills your family would have to contend with if you are uninsured. However, even if an individual does decide to get insurance, it does not automatically mean he is safe from committing any mistakes.

Remember, if you do not want to pay more than what you need, you can always keep insurance costs under control by avoiding making elementary mistakes. So, if you are planning to get insurance in the Philippines anytime soon, here are some mistakes you should avoid:

1.) Not shopping around for policies

One common mistake among people who buy insurance is that they do not shop around for insurance. They would usually take a look at the one offered to them and buy that one outright. If you are in the market for insurance policies, make sure to widen your options. Much like how you buy your household items or clothes, look around, choose the best one with the most reasonable price.

So, read the insurance guide given to you by the agent, make a few calls to several other companies, and you would see how this would make such a huge difference in the price you pay for insurance.

2.) Only comparing rates

While the price and rate are paramount considerations when it comes to buying an insurance policy, it should not only be the only considerations you have. Keep in mind that some insurance policies may be more expensive than the others because it offers a more expansive scope and coverage than the one you are looking to buy.

Furthermore, apart from the policies and packages offered, it would bode you well if you also examined the companies complaint ratio and saw if they have had any complaints in the past. Generally, a company with favorable reviews has a higher customer satisfaction—these are the companies you would want to get insured at.

3.) Not comparing agents

You should be as meticulous in selecting your insurance agents as you are with your insurance policies. Remember that not all agents are created equal, and there is certainly a fair share of charlatans in this industry who are just looking to rob you out of your hard-earned money in the guise of selling you an insurance policy. You should always make sure that your agent is properly licensed.

Additionally, it would be a great help if you could get referrals and if you asked them some questions. Ask them to explain what they are trying to sell to you and how it adds value to your life.

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Just as you would thoroughly read a contract, you should always read the fine print of the policies you are looking to buy. In fact, it is a consumer’s biggest mistake to overlook that and fail to know what their deductibles are. More often than not, if you fail to read your policy meticulously, you would not know what is covered until after disaster has struck.

Apart from thoroughly reading your policy, it would also be a good idea to talk to your agents and find out what is covered. Additionally, do an evaluation each year.

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Two Questions to Consider Before Getting Permanent Life Insurance

Online life insurance application form

“Life insurance became popular only when insurance companies stopped emphasizing it as a good investment and sold it instead as a symbolic commitment by fathers to the future well-being of their families.” -James Surowiecki

 

While life insurance has been marketed as an ingenious savings plan that would inevitably serve as your family’s contingency money in the event of your death, it has been considered and advertised as a unique investment scheme prior to that. But as more and more people were hesitant in buying into an investment scheme that would take a considerable amount of years for a payoff to result, it has since then been promoted as this plan that looks out for the future well-being and welfare of their families.

As a result, more individuals are receptive to purchasing an insurance policy than they would have been years ago. However, this does not diminish an insurance policy’s potential for investment as today; there are still many individuals who would likely buy life insurance just to be able to invest.

If you are planning to invest your money in an insurance policy, make sure you talk to an expert on the field as well as a qualified agent well-versed with insurance in the Philippines. Some companies would likely give you the option of investing in permanent life insurance where part of your premiums would be invested, and some of it can even be borrowed tax-free for retirement or anything else—all that apart from the death benefit your heirs will get when you pass away.

However, before you jump the wagon, ask yourself these two questions and consider when it comes having permanent life insurance:

1.) How much life insurance do you actually need?

Asking yourself how much life insurance you need is paramount as you want to make sure that you buy as much as you need. Expensive and exorbitantly priced permanent policies would mean that you can afford to buy less which is not a good idea on the whole. You are buying life insurance to make sure your family is adequately covered financially if something were to happen to you.

So, it would only make sense to buy as much as you need but never less. In the same vein, you should not buy insurance that you do not need either as you are likely to spend more in it than what you or your family are expected to receive. Weigh your options and consider that your insurance company has to collect a series of premiums not just for benefits, but to cover their expenses as well.

2.) How long will you need the insurance?

Permanent insurance is incredibly expensive as its primary purpose is to cover for your entire life while cheaper term policies cover you when you are younger and are less likely to use it. However, people are under the mistaken notion that once they retire, they would need a lot of insurance but on the contrary, they usually do not. Mainly because they no longer have any dependents apart from the spouse who lives off from Social Security, some assets or pensions anyway.

But if you do not have enough assets to cover final expenses such as funeral costs or at least want a small policy to cover these so as not to be a financially cumbersome task to the family, you would need insurance in retirement.

Furthermore, if you fall into the second category of having a dependent who would not have enough income should you pass away, then you would also essentially need insurance even in retirement. Lastly, those who have taxable estates and would want to have life insurance as an option to pay out the estate tax should consider this option as well.

This is especially useful if they do not want their heirs to sell a business or make taxable retirement account withdrawals just to defray tax payments. However, if none of the three would apply to you, then you might want to reconsider getting permanent life insurance.

 

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Insurance 101: Five Insurance Policies Every Individual Should Have

Schengen Visa Insurance Schengen Insurance Schengen Travel Insurance http://www.equityschengen.com/ Europe Travel Insurance Europe Visa Insurance

“Fun is like insurance, the older you get, the more it costs” –Kin Hubbard

Getting insurance has always been a source of internal debate with a lot of individuals. More often than not, people tend to see it as an additional expense they would not be able to fully enjoy—or something akin to a delayed gratification that they would only be able to enjoy in years to come.

However, you would be surprised to know that getting yourself insured is getting a safety jacket for yourself—figuratively that is. You might not need it now, but you would be so grateful for it once you are in a car wreck, experience illness, have your house razed by fire or even when you are swimming in debt.

The truth is, once you have yourself insured, you will sleep a lot better knowing that you are adequately covered should anything untoward can happen. After all, one of the best guarantees getting insured can give you is peace of mind. However, covering all of your bases might be a little complex, and you might need to know which insurance coverages you should have and which ones you do not necessarily need.

So, before you visit companies that specialize in insurance in the Philippines, it helps to have an awareness of what policies you should have.

1.) Auto Insurance

If you have a car, chances are you are going to want to have it insured. No matter how safe you claim to drive, having car insurance is paramount as you would not want to be inundated with auto bills should anything untoward happen to your car. Car accidents are inevitable, and more often than not, they would not be your own fault—getting your cars insured would help you defray the cost. Choose an auto insurance that has adequate liability insurance—one that covers anything you might have caused in an accident, from the damage to the car to the health of the humans inside.

2.) Health Insurance

Health insurance is self-explanatory but to elaborate, just think of how vital your health is. No matter how young or robust you are, your body is going to experience diseases and ailments all throughout your life. Leaving yourself uninsured is like setting yourself up to pay for medical bills for years and even decades depending on the severity of the illness. You and your family should never go without it.

3.) Homeowner’s/ Renter’s Insurance

You will never know when disaster will strike and do damage to your home and possessions. When it does, leaving your house uninsured means that you would have to pay for the repairs and replacements out of your own pocket. To guarantee that your home insurance covers everything, log your possessions and take pictures should you need to make a claim. Additionally, it would be helpful to get a homeowner’s insurance that includes you have a guaranteed replacement cost.

4.) Disability Insurance

Much like health insurance, you can never really predict if a certain illness or particular accident will render you unable and unfit to perform an existing job. This holds true for long-term disabilities as well which is why some companies would offer great rates. Being unable to carry out a job means that your current income would suffer, look for a policy that covers at least sixty-five percent of your income should you be unable to perform the job you are required to. In this way, you are still covered even if you are unable to generate income.

5.) Life Insurance

If you care for your family, you will not leave them in debt and without a shilling should anything happen to you. Getting life insurance means that even after your death, your family will still be financially able to get on with their daily lives and would be able to cover the burial expenses while they are grieving.

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Thinking of Getting Insured? Here are Seven Terms You Should be Aware Of

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“Health care is not a privilege. It is a right. It is a right as fundamental as civil rights. It is a right as fundamental as giving every child a chance to get a public education.” -Rod Blagojevich

Health and life insurance are one of the life’s most pivotal investments if your family’s safety and welfare are of paramount concern. However, a lot of individuals would find themselves hesitant or even downright unyielding to buying a policy that would suit their needs and their families. There is a myriad of reasons as to why a person would be averse to buying an insurance policy, but there is also a fraction of them whose reasons would stem from the array of jargon insurance they are bombarded with should they elect to get insured.

Wherever you are and whether you are buying insurance in the Philippines or elsewhere, insurance terms are inevitable and are universal. You see and hear them everywhere from the moment you deal with your agent to when you peruse your contract. For this reason, it is highly advisable for you to have an awareness of the most common terms. In this way, you would not feel too overwhelmed should you choose to purchase a policy and help you make better and more appropriate policy selections to suit you and your family’s needs:

1.) Agent

An agent refers to the person you transact the business with. They are individual salespersons who are licensed to sell insurance products and plans. In the Philippines, they are required to undergo a brief study before they can take the licensure exam wherein they would get their licenses after they pass. If you wish to purchase insurance plans and products, make sure the agent you are transacting with is actually licensed to sell you insurance.

2.) Accident Insurance

There are many types of insurances, and an accident insurance is one of them. This is the kind of insurance that would allow a policy holder to get a certain amount of money in case of a bodily injury or damage during an accident.

3.) Accidental Death Benefit

Accidental death benefits come with life insurance policies. It is a benefit that would be equal to the value of the policy chosen by the policy holder. In the event of an accidental death, this is payable in addition to other benefits that they would receive as well.

4.) Dependents

This refers to the spouse or children that rely on the insured person for coverage. Depending on your insurance company or policy, children may continue to rely on their parents’ insurance plans until they reach a certain age. There are also some insurance companies that would allow you to choose who your dependents are.

5.) Allowed Charge

These are fees that are included in your policy. Your insurers will recognize and pay for covered services by providers such as physicians and medical facilities in their health plan network. These discounts have been previously negotiated by the parties, and when you avail of any of the services in their health plan network, you will only pay a minimal fee depending on your coverage.

6.) Claim

This is a requested submitted by the insured to the insurance company asking for payment. The basis of this stems from the terms that are written in the insurance policy as submitted by you or your healthcare provider such as your doctor.

7.) Network

This refers to the groups of physicians, health care providers, clinics, hospices and participants that have agreed to provide medical services at discounted rates should you be covered by an insurance policy where they are part of the network. Remember, not all insurance plans come with the same network types, and the type of treatment and discount you will receive will significantly vary depending on the kind of network type your coverage has.

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Qualities to Look for in a Trusted Insurance Service

Enrolling in an insurance service has its own set of risks. But given the rising cost of hospitalization today, more people are encouraged to invest on comprehensive insurance to reduce the hassle of medical support in case of emergencies.

To some, choosing the right plan from the right company comes with a certain degree of difficulty. After all, what one service offers may not be available to the rest and your preference might favor certain combination coming from various providers. To help you narrow down your search for insurance in the Philippines, it will help to shift your focus on the qualities that make up a trusted company. Have a quick look.

Solid experience or professional profile

All of the trusted companies have in one way or another built a good reputation based on their quality service. They are those who have spent years in service and have concrete profile including awards and recognition detailing their efficiency in providing health insurance to the public.

If you have some trust issues and would prefer to limit your choice to the most reliable ones, then getting a list of companies which already has a good reputation is a good way to go.

Positive client feedback

If what you see on a company’s website is not enough, then might as well ask someone who is personally enrolled to one service. Perhaps you could start by asking your closest friends and relatives for their recommendation. Who would they recommend and why? How was their experience so far upon dealing with the company? What are the issues they have encountered?

Individuals who have first hand experience in availing of the service are likely to offer you more credible feedback than those ads and publicity materials provided by the company itself.

Reliable customer service support

One concrete sign that a company is serious in business is the way they deal with their clients. Do they respond to your inquiries well? How efficient is their support team in addressing your needs? Do they make you feel comfortable every time you ask for a consultation?

Their support team matters because these personnel are the front liners of their service. The way they handle customer support mirrors their commitment to providing you the best service you deserve.

Competent policies fit for different needs and lifestyle

 If you have tried talking with an insurance agent in the past, you must have seen a variety of plans for your choosing. While everything may seem like a good option, not all of them may fit your current lifestyle. All reliable companies have options ideal for individual needs, family, corporate and more.

Before agreeing on any deal, take some time to check if any of their offers feels most convenient for your current needs.

 Reasonable pricing for each plan

 Your income is a major determining factor on which plan is most suitable and reliable companies consider this aspect when creating their policies. Some insurance providers have good benefits but at a very high price – something which can be a disadvantage if you’re currently tight on budget.

It might help if you take some time to compare the offers made by various companies to see the standard pricing for a plan and decide which one is more best-value.

It is possible to find more potential options than one and when you find it difficult to make the final call, going back to the qualities we have on this list might help break the tie.

Insurance companies would make all the best claim for the benefit of their business, but ultimately, their quality of service could talk on their behalf. Avoid immediately jumping to a choice and weigh your choices well!

Top Reasons Why Insurance Agents Fail

Have you ever encountered an agent who attempts to convince you to enroll in a particular policy but lacked enough charisma to draw your attention?

They are everywhere. In as much as how health insurance in the Philippines would like to keep their services on a very high level, the quality of people they get to help them out remains a significant determining factor whether or not they succeed in their mission.

Today, we’ll look into some of the reasons why an insurance agent fails to convince a client to enroll in a service.

Inability to keep up with the trend

Just like any business, there are also new trends that revolve around the insurance service. It includes the usage of technology in conducting business and automating transactions for more client convenience. Agents who fail to adapt with this practice end up lagging behind. Worse, they could make things even more difficult for their customers.

Failure to build one’s professional network

Networking might have a subtle relevance to insurance services, but the act of encouraging clients to enroll in any policy requires a certain degree of working around your contacts. Besides, customers trust better those professionals who have more connection in the industry. The more connected they are with other authorities, the more credible they appear.

This also makes it easier for agents to consult someone relevant to the business. A weak professional network can be a disadvantage especially if you’re competing with someone who has a rich arsenal of professionals to back them up.

Low level of marketing skills

Marketing is an essential skill agent must possess when they’re dealing with clients. One cannot convince another to believe a claim without enough skills to communicate efficiently backed with figures and other facts that support their claim. More often than not, the main reason why clients do not go with a certain policy is their lack of trust on the person who was doing the offer.

Shallow understanding of the customer needs

In any business, the clients’ needs are always the priority. After all, they will be the ones who can benefit from enrolling themselves on any insurance policy. Unfortunately, many new agents, even a few veteran ones, tend to put more priority more on achieving their quota or gaining more satisfied enrollees rather than understanding the specific concerns and wants of each client.

This kind of attitude eventually breeds distrust. When this happens, agents will find themselves having some real trouble convincing people to consider their service offer.

Not enough training and inability to learn from past experiences

There’s no special course that makes you a certified insurance agent. However, companies conduct training for their agents to equip them with the knowledge and expertise necessary to answer questions from clients and explain the nature of the service they offer.

Unfortunately, there are new hires that are automatically sent out on the field even if they are not so well-versed with the job. This usually ends up in a mediocre performance. There are also some agents who have been in service longer but refuse to learn from their past mistakes. In this case, the most likely scenario is for them to repeat their error again and get the same unfavorable result.


Different insurance companies have their own standards and SOPs when it comes to operation. Some have extremely skilled agents while others bank on new recruits to fill in the need for more manpower.

Even if a company does offer high-quality insurance at the right price, if their agents or consultants don’t do well in addressing a client’s initial concerns, there is a huge chance that they would ultimately lose the trust given to them.

How was your experience with an insurance agent? Let’s hear them out in the comments!