Frugal Tip: Have Appropriate Insurance
Spending money doesn’t necessarily sound frugal, but it indeed can be. If you skimp on insurance policies that you need for your situation to save money, you may find yourself (or your loved ones may find themselves) in a very tenuous position if something were to happen to you.
Only you know what types of insurance policies are necessary for your unique situation. Most people insure their home and car, but neglect to insure themselves. Some of the possibilities include but are not limited to:
Make sure you’re preparing for the unexpected. Your financial situation can change in an instant and it pays to be prepared.
This frugal tip provided by paidtwice of I’ve Paid For This Twice Already…
July 12th, 2008 23:31
I agree about carrying proper insurance. I’d recommend Term Life Insurance over Whole Life. Term insurance is far more affordable than whole life, and we can take care of our own investments. We opted for a 15 year term life policy, and plan on being self-insured within that time frame.