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How to Pay for a Funeral: Your Complete Guide

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End-of-life expenses are always a bit sad to think about and hardly ever a favorite conversation topic. However, have you ever asked yourself what would happen if a loved one passed on unexpectedly?

Funeral services, memorials, and cremations can quickly add up in cost and place additional stress on family members in an already tense situation. Of course, the best way to lower some of this stress is by proper planning–but you can’t always plan death.

We’re going to discuss how to pay for a funeral–whether the circumstances are completely unexpected or there is awareness of the imminent situation. Keep reading for more information!

Cremation vs. Burial

If your loved one did not have a preference on whether they are buried or cremated, choosing cremation is the less expensive route. This choice still allows for a memorial service, however, there is no need for a casket or burial plot–two major sources of expenses.

Be sure to consider all urn options, as these containers can vary greatly in cost. Green Meadow Memorials offers a large selection of cremation and keepsake urns at fair prices, allowing for your funds to go further.

Planning a memorial service on weekdays and in the early morning will also help reduce costs, or you can simply choose to have a celebration of life at your home.

Government & Insurance Benefits

Part of having a life insurance policy is that it pays out upon death. This payout can range greatly but is often intended to help cover any final expenses.

There is also a Social Security death benefit and VA (veterans’ affairs) assistance for former military members and their spouses. While the Social Security benefit won’t cover any large expenses, the VA can help with burial plots and grave markers.

If your loved one has any association with clubs or organizations, (Rotary, Lions, and other fraternal groups,) you may consider asking for final expense assistance.

Religious Organizations & Crowdfunding

Should you still find yourself struggling to pay for a funeral, approach religious organizations or faith-based groups. This is best done if you or your loved one are (or have been) associated with them.

Many of these establishments have funds in place to aid in the cost of funeral services, caskets, cremations, and burial plots.

Because not everyone is religious, it may also be helpful to set up a crowdfunding campaign. These sites allow you to set a financial goal, share it among friends and can help you obtain the money needed for these final expenses.

Be sure to research these sites thoroughly as crowdfunding site charge a percentage. This percentage can vary from site to site.

How to Pay for a Funeral: Plan Accordingly

Unfortunately, you can’t control whether your loved ones plan for their end of life expenses. This can leave your family in debt or struggling to make ends meet.

However, you can choose to invest in retirement plans or life insurance to help cover your own funeral costs. Choosing to plan for your end of life expenses can help ensure your children never scramble to pay for your funeral, casket, or other related expenses.

If you have any other tips on how to pay for a funeral, let us know by leaving a reply below!

5 Financial Hacks for Every Startup

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Every startup’s goal is to reach financial stability in order to generate real profit, establish a fierce base in the competitive business world, and upscale their corporation. Although these may seem hard to reach, many of these objectives can be attained through a few simple steps early on. A systematic approach to your business management will allow you to better your time, capital, and other efficient resources. In order to do so, every start-up entity must understand and realize the following financial hacks. [Read more…]

Learning to Live on One Salary

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live on one salary

In my last update, we celebrated having paid off $20,000 or so in debt within one year. However, there have been a lot of changes with our cashflow in the house that has hindered the speed of that continuing. Mostly, we are down to one (main) salary.

My husband is breaking off on his own a bit and has been considering starting his own business. Because of this, cash flow on his end hasn’t been consistent. We’ve lived on one salary multiple times in the past, but every time it is different. Here’s how we’ve learned to live on one salary (and benefits of doing so).

Learning to Live on One Salary

Living on one income isn’t as hard as it sounds. First, you have to come up with a budget that only requires a single budget. For us, it is my income because it is more stable. Your family may want to choose the larger (or smaller) income, depending on your financial goals.

If you are over budget when you tally up your expenses, see where you can cut costs. Do you really need Hulu, Amazon, and Netflix? Or, if you’re looking for a bigger decrease, consider downsizing to a smaller home to better fit your new one-income budget. Others may find it beneficial to move to a more pedestrian-friendly area to cut down to one (or no) car payment or walk more places. If you’re comfortable doing so, you may even consider taking in a roommate or renter.

Consider giving up your indulgent behaviors like going out to eat, junk food, and other items as well. You certainly don’t need to eat out every Friday and spend tons of money on junk foods. This will help cut down the cost of food in your budget as well.

Why You Should Live on One Income

You’re probably thinking, why would anyone willing to live on a single income? It can be difficult and, at times, hinders you from being able to do everything you want to. It can also help you achieve some of your financial goals and feel more secure with your finances as a result.

  1. It makes saving money easier. Simply save your spouse’s income instead of spending it. If you can live on one income, why not bank the rest? You can create a strong emergency fund.
  2. You can use the cash for debt repayment. If you want to focus more on your debt payoff plan, living on one salary can make that more doable as well. Learn to live on one spouse’s income, then use the second to pay off what you owe.
  3. Financial security increases when you have a surplus of cash flow. You have more money than you need, why wouldn’t you feel more secure? You have the ability to invest in your future, pay off debt, and increase savings. It can truly pave the way for financial freedom.

Not to mention, if you live on one salary, you will always be ready if something happens to one of your jobs. You’ll have some savings, and you will be able to continue your current lifestyle until your spouse finds a new job (or starts earning more).

Our Debt Freedom Progress

live on one salary

So, while we are adjusting to living on a single income again, our debt freedom progress has been slow. However, today we paid the final $175 payment to completely pay off a credit card. That will free up an additional $175 for us each month to redirect towards other debts and savings.

In the next few months, we will be paying off other accounts and see our debt freedom progress continue. I will be in a wedding in October, which will be a small cost (around $200 total). We have prepared for that cost though. Both of us are planning to spend the holidays at home as well, to cut down on travel costs.

Readers, have you lived on one income? Tell me about your experience in the comments!

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It’s Okay to Need Help

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<p>Sometimes the biggest thing standing in the way of my own progress is my pride. Over the years, people have offered to help us monetarily and otherwise. In almost every instance (unless it was life-or-death), I’ve turned the help down. Something in me would rather count dimes at the Aldi checkout counter than accept help from a friend or family member. But, through the pandemic, I’ve realized something: It is okay to need help. Even more importantly, it is okay to accept help.</p>::Pexels

Sometimes the biggest thing standing in the way of my own progress is my pride. Over the years, people have offered to help us monetarily and otherwise. In almost every instance (unless it was life-or-death), I’ve turned the help down. Something in me would rather count dimes at the Aldi checkout counter than accept help from a friend or family member. But, through the pandemic, I’ve realized something: It is okay to need help. Even more importantly, it is okay to accept help.

Giving Up Power

A lot of the struggle with receiving help from friends or family is giving up the power behind the situation. If I receive help from someone, they are now involved and I owe them something in return (or at least that is how my mind has always worked). I also have to admit I’ve lost control of the situation at hand and need help.

For those times, I have to step back and give up wishing for power over the outcome. Then they can be allowed to help to the best of their abilities, whether it is monetarily or otherwise.

Reaching Out When You Need Help

That being said, most of the time people are not going to offer up help unless they see you are struggling. You may have to reach out and ask your loved ones for assistance. Here are some things you need to consider doing when you reach out for help…

  • Show that you have tried to help yourself. If you need help, your friends and family will be more likely to assist if you have tried to solve the issue on your own.
  • If they have given you advice, demonstrate that you’ve taken it prior to asking for more help.
  • Think about the timing of your request and consider how it may impact them.
  • Don’t make them guess. Just ask for what you want.

These four tips will help guide your discussion in a productive way. Remember, if the answer is no, don’t be upset. No one is obligated to assist you financially or otherwise. Simply tell them you understand.

Conclusion

When it comes down to it, more people need help now than ever. The global pandemic, in conjunction with several other national crises, has made it difficult.

I wanted to share these reflections with you all today because I’ve spoken with a lot of people who are feeling defeated. More of my friends are being forced to move back home or significantly change their lifestyles just to scrape by. There is no shame in it.

There is no shame in packing up and moving home if that is what you need to do to get further ahead.

There is no shame in receiving money from a relative in a time of need.

There is no shame in needing someone else’s help.

Readers, can you think of a time where you had to rely on others to get by? How did it change you? 

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What are the Features of Good Day Trading Software

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The emergence of advanced computer applications has eased the automation of forex trading in Hong Kong and other parts of the world. As a result, the use of trading software is fast becoming popular for various activities such as day trading. Many traders, however, are yet to find out the amount of profit they can gain from using trading platforms to execute day trading.

[Read more…]

Setting Your Child Up For Financial Success

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<p>Since we have announced that we are expecting our first child, we have been putting a lot of thought into how we can set our child up for success. We’ve discussed private school vs. public school, reading to them, and teaching them various things. But how do you go about setting your child up for financial success?</p>::Pexels

Since we have announced that we are expecting our first child, we have been putting a lot of thought into how we can set our child up for success. We’ve discussed private school vs. public school, reading to them, and teaching them various things. But how do you go about setting your child up for financial success?

Why It Is Important

Neither one of our families had great financial success when we were younger. In fact, there were a lot of moments we remember our parents struggling. Because of this, setting our little ones up with what they need to be financially stable is important to us. It should be important to you, too.

When you are able to display good money habits for your kids, it makes it easier for them to be a financially stable individual as an adult. Beyond that, providing a financially sound environment for your children will also help reduce their own anxiety and tensions in the home all around. So, how do you go about setting your child up for financial success?

Setting Your Child Up For Financial Success

At an early age, you begin doing things with your child to help boost their development. For many families, this takes the form of a nighttime reading session, socializing your child with others, and teaching them some level of responsibility. As they grow older, it is important to also teach them some financial lessons.

  • Encourage saving. Large purchases in life typically take some kind of planning and usually saving. Try and encourage your child to save up for big items they want or things that are important to them.
  • Open a checking account. When your kid reached high school age, it is a good time to open a checking account for them. It will help them learn responsible spending practices. Additionally, when they start working, they will be able to receive a direct deposit.
  • Add your child as an authorized user. Once they have gotten used to using a checking account, consider adding them on as an authorized user on your credit card. This can help teach them more responsibility and kickstart their credit score.
  • Talk to them about their credit. Many young adults enter their lives without knowing anything about their credit score or how to improve it. Be sure you talk to your child about their credit and educate them on secured credit cards. They can be a great way to help them at the beginning of their financial journey.

Bottomline

There are a lot of things that go hand-in-hand with parenting a child that many people don’t often think about. Educating them about finances starting at a young age with saving and through their teenage years will help set them up for financial success later in life.

Readers, when you had your children how did you teach them about money, saving, and debt?

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10 Frugal Date Ideas for Valentine’s Day

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frugal date ideas

Part of being on a debt-free journey means finding ways to cut costs and spend less. With Valentine’s Day coming up, my hubby and I are brainstorming ways to celebrate. Here are a few frugal date ideas we’ve come up with.

Frugal Date Ideas for Every Couple

We both have trouble not spending money on each other. When we have extra cash, we love buying one another gifts and treating each other to something special. However, this can cause serious budgeting issues. Because of this, we’ve had to get a little creative to save money.

1. Make Pizzas at Home

Something my husband and I love to do is make pizza at home for date night. It only takes about 25 minutes and keeps you from spending too much eating out or ordering in. Plus, we have a great recipe that keeps costs low too.

For the dough: 

  • 1/2 cup of greek yogurt
  • 2/3 cup of self-rising flour

Mix these together to form pizza dough (it makes a single-serve pizza). Roll the dough out on a floured pan and bake at 400 for 10 minutes. Take the baked dough out of the oven, add sauce and your desired toppings. Put the pizza back in for an additional 15 minutes.

2. Pillow Fort Movie Night

Because we are kids at heart, we still enjoy a good pillow fort. The best thing about that is it literally costs nothing. We also have Amazon Prime and other subscriptions that don’t cost us anything extra. So, we can pitch our pillow fort, curl up and watch a new movie or binge a TV series. Super cheap and so much fun!

3. Play Games

Both my husband and I love to play cards. We also own several video games we can play together. Find a game you both enjoy, buy it (and some snacks) and just play around for the evening. If you’re competitive with each other, like we are, you can even hold small tournaments. It can be great fun.

4. Go Hiking

I love going for a good hike or a nice walk. Grab your significant other and head outside. Walk around your neighborhood, drive to the park, or find a nearby trail to hike. It is a great way to spend time together and chat.

5. Get Ice Cream

Ice cream is personally a favorite treat of mine. If you live close to a creamery, set out on a walk for some ice cream. You can also hop in the car and grab a sundae to split. Either way, ice cream is a delicious and frugal date.

6. Find a View and Enjoy it Together

This is one of my favorite frugal date ideas and something we do on a regular basis. Normally, we grab food at a drive-thru (usually super cheap) and drive somewhere with a great view. We eat together in the car, listen to a podcast or show, talk, and enjoy our surroundings.

7. Head to the Dog Park

frugal date ideas

You all know we have a pup who loves going on walks and being social with other dogs. If you’re a dog lover too, consider heading to the dog park for a date. You and your partner can enjoy the company of all the dogs, get your pet some exercise, and meet other people. It is a fun date that you can do completely for free.

8. Have a Nerf Gun War

Nerf guns are fairly cheap and something you can keep around. Grab a pair of guns (and ammo) and stage a war in your home or outside. This is unbelievably fun and relatively cheap as far as dates go.

9. Scope Out Free Things in Your Area

Chances are, there is something free going on nearby. Look for festivals, fairs, museums, and free events to visit. You and your partner will be able to walk around the event, have fun, and spend little-to-no money.

10. Treat Each Other to Massages

Massage oil can be purchased fairly cheaply. All you need is that and a couple of candles to set the mood. Treating one another to massages can be romantic and give you a chance to talk to your spouse or significant other about their day.

Readers, do you have any fun frugal date ideas you enjoy on a regular basis? Share them with me in the comments. 

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What is the Best Way to Manage Financial Stress?

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<p>Throughout my pregnancy, I have been attending yoga classes. Since I started attending these classes a lot of my stress levels are just lower, in general. On top of being good for my physical health, each class has helped improve my mental health as well. I’m less likely to freak out if I can remember the most important part of yoga: to breathe. That got me thinking about how people manage their financial stress and what we do to cope in our own family.</p>::Pexels

Throughout my pregnancy, I have been attending yoga classes. Since I started attending these classes a lot of my stress levels are just lower, in general. On top of being good for my physical health, each class has helped improve my mental health as well. I’m less likely to freak out if I can remember the most important part of yoga: to breathe. That got me thinking about how people manage their financial stress and what we do to cope in our own family.

How We Deal With Financial Stress

This isn’t to say you can breathe your way through your financial hardships (though a yoga class or two may help you refocus). However, you can use some things from yoga to help yourself deal with financial stress.

  • Breathe: Sometimes you need to just step back and take a breath. This isn’t the end of the world and a nice cleansing breath can help with your stress levels.
  • Balance: Search for a way to balance out your finances and bring your stress down. Planning helps me a ton!
  • Set your gaze: Consider your goals. Is what you are stressing about really going to hold you back?
  • Drown out distractions: What things are distracting you from reaching your goals? Find a way to drown those things out.
  • Just unplug: Every once in a while, you need to just unplug. Cut off social media, emails, and maybe even your phone for the day. Recenter and come back with a fresh attitude.

Now, my husband doesn’t do yoga. He is more of a jiu-jitsu guy. Thankfully, we have ways of working through our own financial stress together. Normally, he is the calm and collected one. He makes phone calls, mends things when they are broken, and makes the problem (even if temporarily) go away. I am the planner. I sit down and figure out how we can avoid finding ourselves in that situation again.

For many couples and families, this is a great way to manage financial stress. You assign “jobs” to the people in charge of finance. My husband isn’t the best with planning, so bill pay and mapping out our finances each month is my job. He’s a better spender. So, when there is a big purchase to be made, he does the research. It works for us. For the most part, it is about what works for you.

Other Ways to Cope

What works for us won’t necessarily work for you. Thankfully, there are plenty of ways to cope with financial stress. Here are three ways I’ve seen be beneficial for other families.

  1. Have a true understanding of your financial situation. Oftentimes, stress stems from not knowing exactly where you stand financially. Take time to get to know your money and where you stand with your debt and long-term financial goals.
  2. Take a social media detox. Social media can be great, but it can also leave us looking at everyone else’s lives and saying, “That could be me.” People start envying one another and, sometimes, overspend trying to keep up with the Joneses. Turn your social media notifications off for a week (or more). It can do wonders!
  3. Consider counseling. Financial counseling can be a great tool if you are really struggling with managing your stress. Look into low-cost and even free options in your area.

Dealing with financial stress can be a killer. Once you find a way to manage your own stress, it can make a world of difference. You may even find you are meeting more of your goals and seeing more progress in your finances.

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What are the Penalties for Not Paying My Taxes?

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Taxes are a part and parcel of our employed lives, and we must pay them one way or the other. If you delay or fail to pay your taxes or file your tax returns on time, the Internal Revenue Service (IRS) will levy penalties on you. This article will help you understand the types of penalties, exemptions, and tips for quashing your tax debt for good.

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How to Save Big Bucks when Car Shopping

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Buying a new car does not have to break the bank. There are ways that you can save money on a new car or a used car. Why spend more money than you need to? These tips will help you to save a significant amount of money on your vehicle purchase.

Before You Get Started

Car dealerships have professional salespeople on board to sell you a vehicle. Professional salespeople know that there is an emotional aspect to any big purchase and they can play into that. A good way to ward off the risk of buying more vehicles than you can afford is to have a good idea of what you can afford and stick to that parameter.

Get in the mindset that you need to be in before you start shopping. Keeping to a budget is essential and budgets matter whether you are buying a car, truck, SUV, van, or bike (8% of households had a bike in 2018 according to the Motorcycle Industry Council, the most ever reported.) Standing your ground when it comes to your budget is essential to a successful purchase.

It Matters When You Shop

One of the easiest ways to save money on a vehicle is to make sure that you shop at the right time of the year, month, and even the right day of the week. There are savings to be had just by shopping at the right time. For example, the best month of the year to buy a car is December if you are focused on saving money. The best time of the month to buy a car is at the end of the month, and the best day of the week to buy a car is Tuesday.

Auto dealerships are like any other business, they have busy seasons, and they have slow seasons. They have busier days of the week and they have slower days of the week. If you can arrange to shop during the auto dealership’s slow time, you can realize savings.

 

Where You Shop

Prices for vehicles will vary a great deal. You can realize some significant savings if you are willing to travel a bit out of the way. Sometimes, even crossing state lines is a solution for saving money on a car purchase. In other words, think carefully about where you shop for your vehicle. If you can save a couple of thousand dollars by driving a couple of hours, it is well worth the effort. Do not assume that the dealership around the corner has the best deal, do your research, using sites like INVOICE PRICING  to find the best quote for the car that you want, and the dealership in your area that stocks it. Dig a little deeper and look a little further, it can be well worth your while!

 

Due Diligence

Car prices can range greatly from one dealership to the next. One of the best ways to ensure you are getting the best deal is to do a comparison of the deals. About 60% of the car buying process for most car buyers happens online. Researching your options online is a convenient way to gather the information you need to make an informed decision.

Today, you do not even need a laptop or a desktop to get your research done. You can use your smartphone. A recent survey revealed that about 59% of respondents report that they prefer to shop on their mobile device and that the ability to shop on their mobile device helps them to decide what retailer or brand to buy. You can take the same route when you are deciding which vehicle to buy and where to find the best saving opportunity.

 

Ask About Discounts

Oddly enough, many people go into an auto dealership and never haggle about prices. Asking for a discount is a great way to save some money. Not all discounts are advertised. No matter what type of vehicle you are buying, you should always inquire about savings. Buying a vehicle is a big investment, asking for discounts is a great way to reduce the amount of investment you must make.

There are plenty of ways to save money on a new or used vehicle purchase. You do have to put a little effort into the process, but it is well worth the effort. Don’t pay more than you have to.