I recommend that you review your life insurance every year. In today’s economy it is even more important to take a couple minutes and review your needs. Think of it as a checkup. Just like your annual doctor and dentist check up, it’s preventive medicine to help maintain your family’s financial security. The main reason to do this is that needs change over time, sometimes more rapidly than you might realize.
This review is a painless process. Simply check all that apply below. If you have at least one item checked contact your financial professional and discuss them. If you have no items checked you are in good shape for the upcoming year, however if something should change, make sure you take the time and address the changes.
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By Shannah L. Compton
1. Give away your frequent flier miles as a gift: Many of us have a lot of airline miles but can’t travel due to work or just don’t have the budget to right now. Be sure to check your miles frequently as they do expire. If they are expiring soon give them as a gift to a family member who might use them. They make a great wedding gift!
2. Use your frequent flier miles to buy gifts from an online store: Many frequent flier programs also offer the chance to use your miles to purchase gifts from stores like Amazon, Gap, Macy’s, Barnes and Noble, etc.
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Beginning in November I will be launching a new podcast series to bring you exciting financial topics, strategies, guests and much more. But I want to hear from you. What is on your mind? What topics would you like to know more about? Are you worried about your retirement? Would you like to know about small business financial strategies? I want to hear from you!
Email me your topic suggestions by October 31st and receive a copy of my “Financial Document Organizational System” worksheet.
shannah@slcinsuranceservice.com
By Shannah Compton
Traditionally September is a great month. The seasons begin to change. The weather begins to shift. Kids are back in school and mom can finally get a reprieve. Stores are all a glow with Halloween decorations. And you can finally pull out your tall boots, cute sweaters, and great fall jackets. However, this September, September 2008, will forever be known as the month when America’s economy took a turn for the worse and panic began to paralyze us all.
It probably wasn’t until a week or so ago that you really became aware of how perilous our economic conditions are in the country. One day, out of the blue, you saw it everywhere. “We are in a depression. It is Armageddon.” You heard about the $700 Billion Bailout everywhere. You heard about the 777 point stock decline; the biggest one day Dow point drop in history. Maybe you took a look at your 401K or IRA balance and wanted to cry. If anything I hope the recent inescapable news, radio, and press coverage of our economy has you curious for some answers.
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If you have been to the grocery store lately I am sure you have noticed the price increases in almost every product…or have you? Most people, and I am certainly included in this assumption, head off to the market with no clear cut plan in place. Maybe you are in need of a couple items or maybe you are completing your weekly shopping.
Whatever the reason may be you are probably guilty of one of the three types of shoppers: 1) you shop in search of name brand items only without even looking at the competitor’s prices, or 2) you scan the prices of items quickly and then usually decide on your favorite even if it is a little bit higher in price than the others, or 3) you are a complete coupon systematic shopper- kudos to you.
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It’s almost time to dig deep into the back of your closet and dust off your fall wardrobe. It’s the time when you get to rediscover the sweaters, jackets, and pants from last year that you swore you would never wear again, but upon second glance aren’t too bad. I am always sad to see the summer go by because I love wearing my summer dresses. However the fall beckons some of my favorite fashion accessories including tall black boots and long trench coats….all which can take a heavy toll on my fashion budget!
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Yesterday I had the opportunity to submit my thoughts on how one avoids paying fees and interest while building a great credit score and a solid arsenal of major credit cards for an online institution. I love the challenge of coming up with new ideas regarding credit cards because, although they can create financial problems for many, they also can create financial achievements for others.
“Did she use the words financial achievements?” Yes, I did. Credit cards used properly can help you build a solid credit score; can help you leverage your money in relation to surprise expenses, and so much more.
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I bet you never knew that the number 72 was a powerful number!
If you have ever asked yourself the question, “how long will it take before my money doubles”, look no further than the Rule of 72. Before we had computers that would quickly calculate compound interest the Rule of 72 was used as a quick and easy way to figure out the “money double” question.
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Financial expert Shannah Compton is among only 10 honorees
It’s an honor reserved for only a select few, and this year Shannah Compton is taking her place among the privileged elite.
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Just reading the words, “wardrobe investing”, makes you wonder what gimmick the stores are up to again to get you shopping. This is probably because somewhere along the line of our adult development we learned to view clothing mostly as frivolous and for many of us, the idea of clothing being an investment is quite foreign. However, this frame of mind begins to change once you realize the impact that image has on your day-to-day interaction with others and your long-term success. In this article we’ll explore how your image and your approach to building your wardrobe can be considered an integral investment in the “you” brand.
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