7 Golden Insurance Tips Every Newlywed Should Know

The vow of “for better or worse…for richer or for poorer” entails an important promise to live in a financially able home. Managing your money on your own can be challenging enough so adding your spouse’s finances may be overwhelming at times. With that in mind, here are 7 Insurance Tips for Newlyweds

1. DISCUSS YOUR FINANCES AND SET YOUR GOALS

Discuss your finances with your new spouse as soon and as open as possible. You will need to communicate about your bank accounts and about your debts. Set up goals together in order to see which insurance suits your intentions.

2. LOCATION IS EVERYTHING

Housing insurance often pays for destruction, damage, and theft of your possessions. In the event of fire, your insurance will help pay to repair and replace your expensive belongings. Homes close to fire hydrants and fire stations cost less to insure. This is why location of your house is important.

3. TRY THE LUCKY SEVEN

If you are wondering how much life insurance coverage you need, then seek the experts help. Some experts suggest multiplying your annual income by seven so that your spouse is covered for at least 5 to 10 years.

4. CONTINUE DRIVING RED CARS

It is a myth that car insurance companies charge more for red cars. Higher charges come from the age of the client, client’s claims history, and age and model of the car.

5. CONSIDER FLOOD INSURANCE

Housing insurance cover damage caused by pipe overflows but, natural disaster flood are covered by flood insurance. Findings suggest that almost 25% of flood insurance claims are made from low-risk areas, so consider this policy.

6. HOME IS YOUR BIGGEST INVESTMENT

Your home is your biggest investment because unlike cars that depreciate its value the minute you drive them, your house increases its value over time. Houses that are less than 10 years old or those that are renovated within the last 10 years cost less to insure. What’s more? If the house is made of fire-resistant materials such as brick, you can save even more money.

7. BE FIT TO SAVE MORE

Live a healthy lifestyle that includes regular exercise and a balanced diet. Hop on the scale to see if your body weight is the ideal BMI for your age. This is because life insurance companies charge more for people who are overweight since they develop more health problems as time passes. So, stepping on the gym will not only give you a sexy body but it will also help you save more insurance money.

Image Credits: Alan Cleaver  via Flickr

Image Credits: Alan Cleaver via Flickr

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Special Handcrafted Gift Ideas For Valentine’s Day Under S$50

As everything turns digital, there is an increasing need for more tangible items. These physical copies of our photos for instance, become priceless.

Handcrafted items speak volumes of love. Nothing beats a custom-made gift because it will make your partner feel that you really have thought of them. On that note, here are Special Handcrafted Gift Ideas For Valentine’s Day Under S$50.

1. FOR THE SENTIMENTAL SWEETIE

PIXAROLL
Wouldn’t be great to have your personalized pictures (matte or glossy), stamps, magnets, phone casing, and wall decor delivered on your doorstep wherever you are? Well, Pixaroll’s App allows that. Pixaroll App transforms your photos into keepsakes that lasts a lifetime. It is available for FREE on ITunes and Google Play.

Image Credits: www.pixaroll.com

Image Credits: www.pixaroll.com

This Vday, you may purchase 12 pieces of 2.5 x 2.5 inch photo stickers for only S$10 or 24 pieces of 3.5 x 3.5 inch photo stickers for S$18. You use these to design a notebook, book, canvas tote, gift wrappers, or a phone casing for your beloved.

If you want to remind your lover of how good looking she or he is then you may customize a stamp or chop block (S$49) for him or her. Pixaroll’s chop block measures 2.5 cm and there are 4 ink stamps included. Artist’s impressions of your selfies are hand drawn into rubber stamps. So special!

2. FOR THE ARTISTIC ANGEL

PAINTASTIC ART CRAFT

If you want to make a craft that takes a little bit more time and patience but shouts “labor of love” then purchase a DIY Painting Kit from Paintastic Art Craft. The kit usually includes the canvas template, acrylic paints, brush, and instructions. They offer kits with affordable prices and weekly special offers.

In fact, this lovely flower painting that took me 5 days to make comes with free easel and only costs S$4.90.

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The painting sizes for sale range from mini to large so you will be able to find a size that is suitable to your needs. This can surely be a fun experience for you that may even turn to a great hobby.

3. FOR THE LOVE OF PRECIOUS PAPER

THEPAPERBUNNY

Whoever said that sweet and lengthy written expressions of love are so 19th century ago is mistaken. Written love notes will not only overwhelm your partner’s heart but it will also serve as a memorabilia that he or she can keep forever.

You may choose between ThePaperBunny’s greeting cards that say: “We’re Better Together Card”, “Keeper of My Heart”, and “You’re My Favourite”. It costs S$5.90 each. Linen embossed envelope that adds a touch of luxury is included.

4. FOR THE Do-It-Yourself DARLING

Image Credits: Stacie Stacie Stacie via Flickr

Image Credits: Stacie Stacie Stacie via Flickr

Lastly, DIY gifts make the most out of the resources you have at home. So, it won’t cost you a dollar. For more DIY gift ideas made with love, check this out.

 

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Couples, Who Should Pay The Bill On A Date?

The unspoken sentiment of “Who should pay the bill?” has been a hot debate over the years. Its answer however, changes over time.

The arrival of professional women in the workforce was delayed in most countries due to being denied to universities. For instance, Cambridge University only fully embraced women students during the late 1947. Across time there was an increase of women laborers in factories (e.g., textile or machinery). The 20th century solidified women and their rights in the workforce.

The younger generations were raised to empower equality in the household. Moreover, the quality of life is getting harder as economies fail. And so, there is a great need for both men and women to work regardless of social norms.

Nowadays, it is not uncommon for women to be earning more than the men they are dating or are married with. In fact, a study by Prudential Company in 2012 showed that approximately 53% of the sample was made up of women breadwinners.

Since both sexes are relatively equals, it will be interesting to know the opinion of the population regarding who should pay the bill. A poll by Cosmopolitan investigated that. According to the poll, less than 25% of women believe that their partners should always pay for the bill. And, about 40% of women think that couples shall always split the bill.

Image Credits: TheeErin via Flickr

Image Credits: TheeErin via Flickr

The results of this poll only highlight the fact that more women feel empowered to share the expenses. Although, 50% of women think splitting the bill can hurt the romance between two people.

Why would going halfsies hurt the romance between two people? Well…gender stereotypes that it may emasculate the male mate and even social norms impose against it. Furthermore, California therapist Susan Axtell says, “we’re more independent than ever but many women today still want to feel taken care of”. These irrational thoughts may hinder further verbalization of the desire to share the expense.

On the other hand, four out of five men believe that they should always pay for the bills on their dates or at least until the relationship is established.

The key to addressing this issue is to value each other’s money and to treat each other once in a while.

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5 Tips For Couples with Joint Bank Accounts: Sharing is Saving

Being in a relationship founded by mutual trust may find it natural to create a joint bank account together.

Since you can trust your partner with everything else, why not trust him/her with your own finances?

But, managing this may be difficult especially when there are two people with different buying habits and priorities.

So, here are 5 Tips to Help Couples with Joint Bank Accounts…

1. HAVE SHARED GOALS

Maintain a joint bank account for big financial goals such as vacations, household bills, or insurance. Whatever the purpose and goals may be, be sure to make it unanimous as both of you will contribute each month.

Image Credits: Asher Isbrucker via Flickr

Image Credits: Asher Isbrucker via Flickr

2. CREATE RULES BEFORE OPENING AN ACCOUNT

Have a plan of how each of you will contribute (e.g. 50-50 or 60-40). As said a while ago, discuss the goals and priorities you want to pursue in order to know where the money will go.

3. MAINTAIN YOUR OWN BANK ACCOUNT

Aside from the joint account, each person is entitled to have an individual account. This is because you must treat yourself or your partner personally without affecting the “household money”.

You might say that this burns the bridges of sharing, but not really. The key to having individual accounts is that both would have access to each other’s account in case of emergency so there are no secrets.

4. RECORD AND MANAGE YOUR EXPENSES TOGETHER

Communicate openly about your joint bank account and organize your expenses. Make it a habit to log on to your online banking account to reconcile all your purchases together (i.e., every week or every two weeks). Through this, you will understand how you are spending the money. Make cut backs if possible so you can save more.

5. REMAIN EQUALS

Embody your marriage vows or treat it like a merger between to companies. Everyone has an equal say and contribution to the shared account. This is why setting up rules and agreement before the processing is very important. Through this, you can keep an open eye if one overspends on something you did not agree on.

Image Credits: BK via Flickr

Image Credits: BK via Flickr

Ultimately, you must respect each other’s decision and communicate openly about your finances. Having a joint bank account may not be easy, but it is possible! Sharing is not only showing Care but it also Saves money.

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