Category: Frugal Living Tips

What happens to your kids if something happens to you?

As a single parent, this thought can be terrifying. No one wants to think about dying. But when little ones depend on you, you can’t help but wonder what would happen if you were no longer there.

That’s why life insurance is important. When you’re the sole provider for your kids it’s even more important.

With the right life insurance policy, you can provide for your kids even when you’re not around. That would assuage a lot of worries, wouldn’t it?

Money is always pretty tight, though. Every cent counts. You may be wondering if you can really afford to buy life insurance.

Let’s take a look at some options. And then we’ll look at some reasons why you can’t afford not to buy life insurance.

Term Vs Whole Life Insurance

When you’re pinching pennies to provide basic needs for your children, every cent counts. You know that life insurance is important but you don’t know if you can afford it.

There are two general types of life insurance policies. Term life insurance and whole life insurance. The main difference is that term life insurance is good for a set term. Terms typically run from 10-35 years. Whole life insurance covers you your entire life.

Thus, a term life insurance policy is a lot cheaper. There is less risk that you’ll die during the term so the company can afford to offer a plan at a cheaper rate.

Term life insurance policies are very affordable. The peace of mind alone that a life insurance policy will give you is worth far more than the premium.

You can find more information about term vs whole life insurance and get a quote here.

Why Life Insurance?

Okay, so life insurance is affordable and gives you peace of mind. But what does that really mean? What do life insurance benefits cover and how will it put your mind at ease?

Let’s look at some of the reasons why life insurance is important for single moms. You can pick and choose what you want your specific policy to cover but here are some common options.

1. Death Expenses

It may surprise you to know but dying is very expensive. The average cost for all end-of-life necessities (not just the funeral) is a whopping $11,618!

You barely have two pennies to rub together on any given day so it can’t come out of your savings. Who’s going to pay for your death expenses?

With a life insurance policy, you don’t have to worry about that question. The policy will cover your death expenses.

This makes things a lot easier on family members. They have enough to worry about during such a difficult time.

2. Pays Off Debts

Are you still working diligently to pay off your debts? What happens when you die? Do they just go away? In some cases, they do. In others, they don’t.

For example, say you are paying off a mortgage. If you die, the house would most likely have to be sold to pay back the debt. Thus, in addition to losing you, your kids would have to leave their home.

A life insurance policy can pay off your mortgage. Your kids’ new caregiver could come to live with them instead of having to be uprooted during such a tumultuous time.

3. Covers Estate Taxes

The government is only too happy to have a tax for everything and that includes your estate. Of course, as a single mom, you might not have much of one. But what you do have you want your kids to be able to keep.

Estate taxes vary depending on the state you live in. Plus, if the estate is worth less than a certain amount (that varies by state) they won’t be levied against your estate.

But, if estate taxes do come into play, your kids won’t have to worry about them if you have a life insurance policy that covers them.

4. Covers Your Kids’ Expenses

Your mom, sister, cousin etc may be totally willing to look after your kids if something should happen to you. But, as you know, kids cost money.

Can your mom support your kids on her fixed income? Probably not. Your sister or cousin may already be stretched thin caring for her own kids.

A life insurance policy will ensure that the money needed to take care of your kids is there.

Life insurance policies don’t typically pay out to your children. That makes sense as they wouldn’t know what to do with the money anyways. Instead, you can name a guardian or create a trust that will pay out the money at specific intervals that you can choose.

Regardless of how you want to set it up, you can rest easy knowing that the necessary money will be there.

5. College Expenses

You can even include college expenses in your life insurance policy. Your premium may be higher with this option included. But if a college education is something that you really want for your kids, it may be worth it to you to include it.

Final Thoughts

It’s not a pleasant thought, but one day you’re going to die. You hope it’s when you’re old and your kids are already raising kids of their own.

But you don’t get to choose. You can eat healthily and exercise all you want, but you don’t get to choose when you die.

Take away the fear that your kids won’t have what they need by buying a life insurance policy. You can hope your kids will never need it, but it will be there just in case. That’s why life insurance is so valuable.

For more great personal finance and budgeting tips be sure to check out our blog.

Do you dream of watching wild giraffes stroll across the savanna? Would you love to see a pride of lions lounging in the shade or a stampede of migrating wildebeest?

Let’s face it: Most African safari packages are not cheap. So regardless of what your heart yearns for, your bank account might be holding you back.

If this sounds like you, don’t despair. The truth is that you can take an affordable African safari–you just have to know how to budget and where to look.

In this post, we’ll give you some expert tips on planning an African safari that won’t break the bank. Read on!

1. Choose the Right Destination

The best places to take a cheap safari are countries that are easily accessible and offer a lot of options.

You may dream of a safari in Tanzania or Kenya, but these areas are known for luxury accommodations and high park entrance fees. Many reserves in Botswana and Zambia are very remote and can only be accessed by private plane–which means bigs bucks for you.

For an affordable African safari, consider South Africa, Zimbabwe, or Namibia. These countries are much more accessible to the budget traveler while still offering excellent reserves.

2. Book Through a Local Operator

Major international tour companies may have flashy websites, but don’t be fooled. You’ll almost always get a better deal–and better experience–by going local.

Locally based safari operators offer local guides and better safari deals than the big-name companies. You may even be lucky enough to snag a great last-minute deal on your dream safari.

Cape Town-based companies such as African Budget Safaris offer terrific packages at very reasonable prices.

3. Travel During the Off-Season

Another helpful hint when planning an African safari? Book your visit during the off-season.

Although this usually coincides with the rainy season, it’s unlikely to rain all day, every day. Instead, you’ll enjoy far fewer crowds and better chances of seeing newborn babies and migrating birds.

Best of all, prices drop significantly during the off-season. If you want to take a cheap safari, this is the time of year to do it.

4. Save on Accommodation

A huge portion of most African safari packages is the accommodation. While five-star lodges and gourmet chefs certainly sound appealing, they can make a serious dent in your savings account.

To save money, select a budget option for accommodation. A 2- or 3-star hotel will still be very comfortable at a fraction of the price of its five-star counterparts.

Looking to save even further? Pick up some camping gear and take advantage of the cheap campsites scattered around most major game reserves. It’s also possible to rent a 4WD vehicle with a rooftop tent and all necessary supplies.

Why pay for a luxury hotel when you can sleep beneath the stars in the open savanna?

Book Your Affordable African Safari Today

So, what are you waiting for? Now that you know how to find an affordable African safari, all that’s left to do is pack!

Feeling inspired? Looking for more helpful tips on where and how to travel frugally?

Check out our latest travel posts for more information.

Buying clothes for kids can be an expensive affair since they grow way too fast, especially during school holidays.

Fashion moves faster now than ever. This means clothes your kids couldn’t wait to wear just the other day may join the junk heap sooner than they did while you were growing up.

You like to see your kids grow but, then again, you hate the idea that they need new clothes every now and then. And it’s even more expensive if you’ve got a large family.

The truth is that it’s very easy to spend a small fortune on children’s clothes since you don’t always have an idea of what their sizes are and what’s in fashion.

However, you can still save a tidy sum of money when shopping for children clothes. Here are some tips on how to shop for clothes on a budget for your children.

Buy Off-Season

There are some items that you know your kid will need every year, such as seasonal clothing, jackets, and sweaters.

The perfect time to purchase those things is at the end of every season, but be sure to purchase them for the next year. Often in early spring you’ll notice summer clothes on sale, when the weather may not be appropriate for tanks and shorts.

This is when you should search the clearance and sales racks for sweaters, coats, long pants, and other winter outfits that are being cleared by the stores.

This cycle repeats every season, so always know when stores are getting rid for the next season’s clothes. You can save loads if buy kids clothes for the next year.

Accept Hand-Me-Downs

Most hand-me-downs are absolutely free! Speak to your family or friends who’ve got kids bigger or older than yours and see if they can give you outgrown clothes.

You can get so many clothes that you end up not buying clothes for your children for a few years. However, this doesn’t have to stop you from snapping up some great deals at thrift stores and yard sales here and there.

Shop Secondhand

Kids outgrow things so fast that they often are pretty much new even after they have been outgrown. While browsing through racks can take some effort, you can snag some real gems at very low prices if you’re up for it.

Great places to find used clothes include thrift stores, garage sales, and local online stores. You can also shop at both brick-and-mortar and online consignment stores to find brand-name attire at reduced prices.

And for some great deals on retro shirts and tees for your kids, be sure to check out companies like SE Apparel.

Buy in Bulk

There are websites and stores that offer discounts if you clothes in bulk.

When you buy in bulk, you can snag discounts. That’s the idea behind wholesaling!

Let’s Show You How to Shop For Clothes on a Budget

You don’t have to break the bank to ensure that your kids look amazing, so long as you become creative. There are lots of bargains to be had no matter the ages of your children.

Want to know how to shop for clothes inexpensively with your kids? Contact us today and let us know. We’d be glad to help.

This quote is simple, but we love it “Improvement begins with I”. Other than being a grammar lesson, this quote reminds us that only we can change ourselves.

But where to start? “I’ll just be a better person” isn’t a plan, it’s a sentence. Find actual ideas you can stick to in our how to better yourself guide below!

How To Better Yourself: The Tips

You don’t need a life coach, tons of money, or hours of free time to complete any of these tips. All you need is some determination, maybe a few phone apps, and a library card.

What are you waiting for? Get started!

Stay Reading

Have you ever heard the saying, “if you don’t use it you lose it”? It’s usually in reference to physical muscles. However, your brain is a muscle too.

Like the rest of your body, it needs a working and reading is the brain’s version of CrossFit. Reading is a simple skill we take for granted, but it takes patience, diligence, and imagination.

If you’re thinking “I’m reading this right now!” you’re not off the hook. When we talk about reading, we mean long-form content with a narrative and complex points.

If you can, always keep a book on you. People used to do this before cell phones and they were never bored. Pick books that teach you how to better yourself and you’ll be a better person page by page.

Learn a New Language

The world is more interconnected than ever and that’s giving people who speak multiple languages more opportunities. Wouldn’t you like to be one of them?

Yes, learning language is a hard skill, but it’s one of the best things you can do to improve yourself. Perhaps even better for your brain than reading, learning a different language grows your brain.

If you commit to this technique how to better yourself, you can expect a better memory and a longer attention span. There are even studies that show people who speak multiple languages live longer (or at least are with it for longer).

When you show yourself that you can improve yourself, it’ll increase your confidence. With easy apps like DuoLingo or Babbel, there’s no excuse not to improve yourself!

Further Your Education

You CAN teach an old dog new tricks, though you shouldn’t refer to yourself as a dog! There is no age limit on learning.

Take it from Amy Craton, who was 94 at the time of her graduation. She went to school in the 60’s but had to stop to support her family through a divorce.

This cool great-grandmother took her education up five decades later and graduated with a 4.0 average. If she doesn’t think it’s too late for self-improvement, neither should you!

Thinking about going back to school or advancing your degree? Start by finding available states with legal studies programs.

To quote this awesome student,”If you’re thinking about going back to school, do it,” she says. “You’ll open up a whole new life.”

Early Bird Is a Better Person

Though this isn’t the official expression, people who get up earlier are more successful and productive. Just ask any self-improvement guru!

There are full movements featuring waking up early. One of our favorites is the Miracle Morning approach by Hal Elrod. He takes 10 minutes 6x in a row (one hour) to get his stuff out of the way.

He journals, does a quick work out, tracks goals, and says his affirmations. You can do these steps for 10 minutes each or as quick as one minute. What’re six minutes out of your day?

Workout

Yes, every self-improvement article there is will mention working out. Moving your body is that important!

You don’t have to chase a carrot on the treadmill though, working out can mean anything that gets your heart pumping. If you have kids, play tag with them!

Set a timer if you’re working up to constant cardio or play freeze tag so you can have breaks in between runs.

If you don’t want to do that, find something that you like to do. That’s the trick to the whole exercise thing. If you like to dance, find a Zumba class and shake your butt and feel silly.

Need an outlet for anger? Find a kickboxing class. Like sports? See if your rec-center has an adult league.

If you view working out as something fun, you’ll be more likely to do it!

Volunteer

Your mom always told you it was better to give than to receive, but who has the time? You do.

Even if it’s one afternoon a week or a month, there’s some organization that could use three hours of free help. If you’re young it’s resume fodder and if you’re grown, it’s money in the karma bank.

Plus (surprise!) it has health benefits. We’re talking mental and physical.

People who volunteer semi-regularly experience

• Less chance of depression
• A sense of purpose and fulfillment
• An increase in self-confidence
• Longer brain-life
• Reduced stress levels
• Dopamine rushes

Do you like to travel? The world-traveler lifestyle can be a tax write off! Look into voluntourism.

On these cross-globe trips, you have a huge range of activity choices. You can help farmers in rural France during the harvest or help marine biologists collect data.

With voluntourism (as long as you have the money to get there) everyone wins!

Start a Journal

Some of us have always been avid journalers, but the way we journal is changing. Traditionalists still prefer good old pen and paper, but keeping a digital journal works too.

You can write anything you want in your journal! Things that make you mad, happy, a play by play of your day – it’s up to you.

Through journaling, you see your weak spots or repetitive things in your life. You pay attention more to patterns or behaviors and teach yourself how to better yourself.

Don’t know where to start? There are plenty of journals that have daily prompts or writing exercises. You can find journal prompts online or find physical copies in the planner section of a bookstore.

We like the bookstore experience best since it allows you to flip through pages and see what you’re buying.

Cancel Meaningless Subscriptions

Subscription boxes are all the rage and it’s fun to get little presents in the mail every so often, but do you really need it? If you’re like us, those things end up accumulating and cluttering up precious space.

We’re not hating on them, it’s nice to have travel sized mascaras for trips, but you don’t need a new one every month!

If you have your payment linked through PayPal, you can go in and see what “Payment agreements” you’re in. Instead of having to remember your login information for random sites you can cancel through PayPal.

Not only will this save you money, but trying this trick makes us feel calmer when looking at our bank statements.

It seems small, but prioritizing your money is why you’re reading this blog, right?

Put the Screens Away

Yes, we said it. You limit your kids’ screen time, so why not your own? Even though your brain isn’t plastic and still-developing, constantly being plugged into devices is harmful.

Without getting into the nitty-gritty (and quite honestly scary) science, too much screen time is reducing your attention span. Depending on how you use it, it can even strain your eyes and give you wrinkles.

How much of a bummer is that?

Sleep experts like Ariana Huffington say to sleep with your phone in another room, but that’s not realistic. Instead, try moving your charger station to your dresser.

Not having your phone within arms reach will reduce the dead-time you look at your phone before falling asleep. At a playdate or waiting for school to get out? Pull that book out of your bag from step one!

Say No to Straws

Don’t have time to volunteer or don’t want to spend the extra money on organic plastic kids toys? You can still make a difference in the environment by saying no to straws.

We’ve been avoiding plastic grocery bags for years, but drinking straws can take just as long to biodegrade. A single, normal restaurant throws away 45,000 straws in one year.

That’s a ton! Plus, it’s adding up in our oceans and on our beaches. Approximately 90% of marine life has ingested plastic of some kind.

Want something to drive this point home? Google “Straw stuck in turtle” for a quick dose of heartbreak.

Now that you’re on board, tell your server you don’t need straws when they take your drink order.

Meditate

If any of the tips on this list are beneficial, meditation’s benefits lap them all. Why else would people still be doing it after thousands of years?

Want to know how to improve yourself through meditation? Get an app like Stop, Breathe, Think (free in app stores). This app and others like it have guided meditations the perfect lengths for beginners.

Say Yes to Self Improvement

Now that you’ve read this article there’s only one thing that determines if you’re going to improve yourself. Actually using one of these tips!

Getting ideas is great, but action speaks louder than words. Pick two things off of this list, something you can do right now and a longer-term option.

Knowing how to better yourself is a skill and we’ve just given you the cliff notes. Go out and be great!

Is it starting to feel like you’re drowning in debt? When you have so much of it hanging over your head, it can make it feel like it’s going to be impossible for you to ever get rid of it.

Fortunately, there are steps you can take. One great option for some people is debt consolidation.

Now, we know what you’re thinking: Is debt consolidation a good idea for me?

It really all depends on your specific situation. But in many cases, debt consolidation loans can end up being godsends for those who just can’t seem to make a dent in their debt otherwise.

Let’s take a closer look at a few of the scenarios in which you should consider obtaining a debt consolidation loan.

You Have Multiple Forms of Debt at the Moment

Are you juggling several different credit card payments every month?

This can start to become incredibly frustrating in a very short amount of time. It can feel like you’re paying hundreds of dollars every week and doing very little to reduce the total debt you have.

If you’re currently indebted to a few different credit card companies, a credit card consolidation loan will allow you to take all your debt, put it into one big pile, and then chip away at it slowly.

This can do away with a lot of the stress you feel right now and show you that there is a light at the end of the tunnel. It can also stop the collection calls you’re receiving as you try and keep up with all of your payments.

You should ask yourself “Is debt consolidation a good idea?” the first time you find yourself struggling to keep track of all the various debt payments you need to make on a weekly and monthly basis.

Your Debt Is Saddled With High-Interest Rates

More often than not, high-interest rates are what prevent people from paying off their debt in a timely fashion. You might be able to make minimum monthly payments on your debt, but if your interest rates are high, it almost won’t make any difference in your total debt.

Take out your latest credit card statements and look at your interest rates. Are they in the high teens or even up into the 20s?

If so, you could probably benefit in a big way from taking out a debt consolidation loan. Even if you don’t have excellent credit, you can get access to a much better interest rate that would make it easier for you to pay down debt rather than just maintaining it from month to month.

If you have really bad credit, a debt consolidation loan might not necessarily be the answer for you. There are some companies that will give you a debt consolidation loan with your credit situation, but they’ll often tack a hefty interest rate onto it that won’t help you much.

Do your homework and look around for debt consolidation loans that will give you an interest rate that makes sense for you.

Your Credit Score Is Taking a Huge Hit Due to Debt

Debt can wreak havoc on your credit score. When you have a lot of debt, you will likely see your credit score go down, down, and then down again over the course of time.

If it’s been a while since you’ve checked your credit report, you should do it now to see what it says about you. You should also check out your credit score and see if it’s taken a hit.

If it has gone down considerably, it’s probably time to consider a debt consolidation loan. By using a loan to pay off your credit card debt, you can free up credit, which the credit bureaus like to see.

Once the balances on your credit cards go down, your credit score will usually stop going down. It will then start to increase over the ensuing months as long as you don’t start using your credit cards excessively again.

Read more about checking your credit score and obtaining financial help after you do it.

You Have Tried Everything Else and It Hasn’t Worked

A debt consolidation loan isn’t the only way to get rid of credit card debt.

You can also eliminate mountains of debt by:

• Committing to paying more than just the minimum amount due on your credit cards every month
• Taking out a loan from a family member to pay off your debt immediately before paying them back as quickly as possible
• Contacting your credit card company to try and lower your interest rate
• Working with a debt relief company to strategize a way to do away with your debt
• Asking your creditors if they would be willing to settle your debt issues for less than what you owe

All of these approaches have their pros and cons, but there are ways for people to eliminate debt without consolidating it.

That being said, debt consolidation loans are often one of the best options for those who want to eliminate debt while improving their credit score.

You can make your debt seem a whole lot more manageable with a credit card consolidation loan, and you can put a plan in place to deal with it.

Simply making a plan will make you feel a whole lot better about where you stand, and it will show your commitment to doing away with your debt. You will feel more motivated to attack your debt when you decide to use consolidation as your preferred method.

Is Debt Consolidation a Good Idea? It Just Might Be

There is, unfortunately, no quick fix for those who want to find a way to get rid of their debt. It can take months and, in most cases, years, to do it.

But if you find yourself asking, “Is debt consolidation a good idea?” the answer is that it might be. By working with the right company to obtain a debt consolidation loan, you can put yourself back on the path to financial freedom.

Check out our blog for tips on earning extra money and living more frugally on a daily basis.