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Posted
Aug 26 2009, 09:35 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
This guest post comes from "vh" at Funny about Money.
If you were killed or incapacitated in a car accident, if you had a stroke or heart attack that put you out of commission, would the people who had to take over your affairs know where to start?
Would they know where your bank accounts are? What insurance you have? Where your paycheck is deposited? What bills have to be paid? And if you have minor children, will friends, relatives, or the authorities know where you want the kids to stay?
If the answer to any or all of those questions is either "no" or "I dunno," now is as good a time as any to start writing down the answers.
I'm in the process of compiling a complete record of all the things my son will need to know if anything happens to me. It's a pretty big job, one that will take several days to complete. The product will be two three-ring binders, one to keep at his house and one to keep at mine.
Here's what's going into it:
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Posted
Dec 04 2008, 06:38 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Nora Dunn at partner blog Wise Bread. My, how life changes when you close one chapter of your life and open a new one. Severing a conjoined life and combined finances as a result of divorce is painful through and through. The jump to a single-income lifestyle paves the way to feeling a cash crunch, and if children are involved it is even more pronounced. Even if the breakup is liberating, there is still some mopping up to do after the storm. Here are seven things you can do to set your new life up on the right foot.
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Posted
Dec 02 2008, 06:30 AM
by
Karen Datko
Rating:
Filed under: banking, credit, Bargaineering, online banking, financial planning, credit cards, credit reports, homeowners insurance, mutual funds, estate planning, wills, executor, emergency fund, income tax, tax software
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog Blueprint for Financial Prosperity. Popular Mechanics created a list called "100 skills every man should know," which naturally gravitated toward DIY/physical skills like jump-starting a car and splitting firewood. The Frisky listed "30 skills every woman should have before turning 30," which actually touched on more than physical skills (though No. 12 is physical), with a handful of financial skills (Nos. 17-20). The following isn't a checklist of things you necessarily need to do in your life. It's a list of things you should know how to do in case the need arises.
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Posted
Nov 20 2008, 05:20 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Trent Hamm at partner blog The Simple Dollar. Most people have financial worries in their lives: How will I pay the bills? What will happen if I'm suddenly injured and unable to work? What if I lose my job? I'm in the same boat. Although I've come a long way in the last few years, I still have a lot of concerns. What would happen if I were to pass away suddenly? What if my wife were to die? Many people bury their concerns and don't consciously think about them. They hide them deep under the surface and live life pretending such things could never happen. Under the surface, though, worry builds up -- and bursts out when they hit a bump in the road.
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Posted
Nov 17 2008, 05:58 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
This post comes from J.D. Roth at partner blog Get Rich Slowly. My friend Sparky called the other day. We chatted about work, we chatted about the economy, and we chatted about investing. We also chatted about our families. We talked about my mother and her health problems, and then we talked about his parents and their health problems. "I can't believe they haven't updated their wills," Sparky said. "What?" I said. "Are you kidding me? How old are they?" "They're both about 65," he said. "Maybe a little older. They haven't updated their wills since I was 5. If you go by the paperwork, when they die, I have to go live with one of my aunts. I'm almost 40."
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Posted
Oct 14 2008, 08:06 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog Blueprint for Financial Prosperity. When I was a kid, safe-deposit boxes had a certain mystique. My parents never had one, so the only experience I had with them involved television shows or movies. The scenes were always of bank robberies, of masked men and women running into a smoke-filled room -- after they blew open the door, of course -- full of hundreds of boxes stacked up nicely and neatly in little cubbyholes. Inside each was a little treasure chest of riches and the crooks were there to take them. Only when I became an adult did I realize they typically hold more pedestrian items like important paperwork (car and house titles, marriage licenses) rather than sexy uber-valuable jewelry one could fence.
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Posted
Sep 19 2008, 05:35 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Trent Hamm at partner blog The Simple Dollar. Not long ago a friend of mine lost one of his parents very suddenly. It came out of nowhere and felt like a punch in the gut to him. He spent a few weeks almost in a daze lamenting the loss of his father, with whom he was very close, and when he finally came out of that daze, he discovered a few things. He'd racked up quite a bit of credit card debt. He was deeply behind on his work. He had let some important personal things slide. In short, he now had some serious catching up to do in his day-to-day life.
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Posted
Jul 21 2008, 05:16 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This guest post comes from Ron Haynes at The Wisdom Journal. I think few people would disagree that children learn many of their life skills from their  parents. From parenting to work ethic, to spousal relationships, to personal finance, the most important things in life that children learn are those taught by the example of their parents. That isn't just a broad opening statement, it's truth borne out of years of investigation by researchers -- and from parents and grandparents who witness it every day. I've been thinking lately about what my children are learning from me because, as a parent, I am a model for my kids. But it's my choice whether to model good behavior or bad, and my example, much more than my words, will leave a lasting inheritance with my children.
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Posted
Mar 13 2008, 04:54 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
This post comes from Lana Goodrich at partner blog Wise Bread. What's the first thing people tell you when you start feeling down in the dumps? "Don't worry. Things will get better." But sometimes, being too positive is just a one-way street to being unprepared. Here are four common worries and why dwelling on them can help you save cash. What if I lose my job? You're right to worry. The economy is on shaky ground, and you could be fired or laid off due to any number of circumstances. Take it for granted that you're going to leave your job eventually. This is a good time to set aside money for an emergency fund to cover at least three months' living expenses. Update your resume or portfolio so they're current and highlight your best work. Network with acquaintances and put out your feelers for similar jobs -- even if you have no intention of leaving quite yet. Being ready is the best way to bounce back.
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Posted
Nov 08 2007, 08:05 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Sarah Winfrey at partner blog Wise Bread . A lady I know of died last night. It was expected; she had been diagnosed with incurable cancer last spring. I didn't know her well. I wish I had, as her friends are going to great lengths to honor her. It's been really cool to see people coming together, comforting each other, saying meaningful things to each other. One of the things friends say has comforted them is that her family is in a secure place financially. I'm not sure what plans she had in place, but her family has been able to cover her medical care and will be able to pay for her funeral without a lot of trouble. Friends are comforted that the family won't have to worry about money as they grieve the loss of this wife and mother. This has made me think hard. You can do a lot before a crisis hits to help your family when it does. Here are things I'm glad I have and ones I intend to look into. Health insurance. I have great health insurance and will have better
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