Make Money From Offering a Service or Skill

Fiverr.com is a website where anyone can offer nearly anything for the price of five dollars. Fiverr takes one dollar as commission, and pays out four dollars. Nearly anything can be offered on the website, from services such as web design, article writing, and translation, to physical goods such as sculptures, paintings, drawings, clothing, and jewelry. Fiverr offers access to a marketplace full of potential customers, making it easy for anyone to make money online.

Make Money Designing and Selling Things

Websites such as CafePress.com and Zazzle.com offer everyone the ability to get creative and design their own t-shirts, sweatshirts, or other types of clothing, as well as items like coffee mugs, tote bags, stationery, art, and more. These items can be sold on the CafePress or Zazzle website, or they can be sold on people’s own personal websites. Personalized items can be completely unique, or they can be personalized for something simple, such as family reunions, class reunions, school mascots, churches, or any other organization’s logo. The possibilities are endless.

Start A Website and Use Google Adsense

For anyone who wants to make money in their sleep, setting up a personal website and then putting Google Adsense advertisements on it is one way to do that. This kind of money isn’t instantaneous, so it’s not for someone who wants or needs money right away; however, a person can do some initial work upfront on their website, put a few ads on it, and leave it alone, and it will most likely make them some money eventually. This is a great strategy for people who have a lot of knowledge about a particular area that they would like to share with the world, be it fishing, knitting, football, fashion, or any other topic, and don’t mind putting in some work upfront and reaping the financial rewards later.

Sell Magazine Subscriptions

Selling magazine subscriptions is a great way to make easy money online. Anyone can do it, and most people have at least a few friends and family members who purchase magazine subscriptions, so it’s not hard to make at least a few sales. The way it works is through a website called AcclaimSubscriptions.com. Anyone can sign up through their affiliate program on their website. After signing up for free, a person can put a referral link on any of their personal websites or social networking sites, such as Facebook, MySpace, or Twitter. Each time someone clicks on the link and purchases a magazine subscription from one of the over 200,000 magazines AcclaimSubscriptions.com offers, the owner of the referral link gets a percentage of the sale.

Francine Gomez is a career consultant and loves giving clients new ways to make money online from home. There are many opportunities to bring needed funds into the home – from doing paid surveys to writing articles for blogs.

* Thinking you know how much you will actually need. Many people make the mistake of not saving enough or having enough retirement and quickly find themselves out of money. It’s better to have too much retirement than not enough.

* Investing in a retirement plan without actually saving money yearly on your own. Another common mistake is not having an additional savings in conjunction with your retirement plan. Even if the funds will be used to travel, an extra saving plans will help meet your needs when it comes time to retire.

* Paying off current loans before investing in retirement. Don’t try to get small loans such as college or automobiles paid off. It is better to use that money to invest in your future retirement. Focus on putting as much money as you possibly can into your retirement plan. One the other hand, you should try you best to have your mortgage paid off before retirement comes. This will keep you from having to place a large sum of your money into paying off loans.

* Believing in career permanency. If you start saving at a young age, you can expect your career to change over the years. You may be forced to adjust how much you are saving as you transfer to new jobs.

* Not understanding how your retirement plan works. Be sure that you know exactly how your retirement plan works. Be sure that there aren’t loop holes that you are missing and that you are going to get out of your plan what you are investing in it.

Being unaware of withdrawal fees. How much will you be taxed when you withdraw your money? Be sure that the majority of your money isn’t tied up in withdrawal fees.

* Choosing not to participate in your company’s retirement plant. Another common mistake people make is choosing not to participate in the retirement plan offered by their employer. If your company offers a plan, take advantage of it.

* Borrowing money against your plan. Many people feel that it is okay to borrow against the retirement plan. Borrowing too much will quickly leave you with very little over the years. If you are going to borrow money, borrow it from the bank, not your retirement.
Cashing out your plan during hard times. Try to ride out hard times instead of turning to your retirement for money. You will need the money to live off of when you are older.

* Taking too many risks. When investing in retirement, don’t take too many risks. You don’t want to be left with nothing if the economy is in default when the time comes for your to retire.

* Not getting advice from the professionals. Don’t think you can do it on your own. Get the advice from professionals who specialize in creating lucrative retirement plans for people. They can show you how and when to invest. A financial planner can set you up for retirement and you will have very little worries.

* Investing very little with intentions on investing more in the future. If you can afford it, go ahead and invest as much as you can in the future. After all, the time will come when you have to retire and you want to be prepared. Don’t have the “I’ll worry about it later” attitude when it comes to your future. Secure your future while you are young so that you can live without worries when you are older.

Use the mistakes listed above as a guide to helping you plan for retirement. Avoiding these mistakes will help you be thoroughly prepared when the time comes to retire.

This article is written by 1001 Walking Canes – a home of stylish walking canes and sticks for men and women

* Saving money. While money definitely doesn’t determine happiness, it does contribute to it. Consider making an effort to save money so that you don’t have the stress of wondering if you will be able to pay your monthly bills. Start saving!
Eating healthier. Food contributes directly to your mood. If you are filling yourself up with bad food every day, this is going to affect your happiness. Plus, you will have trouble keeping your weight under control which will affect your happiness, too. Eat healthier so that you can be a happier you!

* Exercising daily. Those who exercise on a daily basis tend to be happier than those that don’t. Why? Your body needs exercise to relieve stress. Exercise at least 30 minutes 3 times a week and watch your happiness increase.

* Finding a career you love. Your career will without a doubt take up most of your time. If you don’t enjoy your career, your ability to be happy will be greatly affected. Don’t settle for a career that you are not happy in. Even if you have to accept lower pay, it pays to be happy.

* Spending more time with your family. Make time in your daily schedule to spend some much needed time with your family. Studies have shown that those who spend time with their family are happier than those who have little to no time with them during the day.

* Being adventurous. Do things out of routine every now and then. Take your kids out for ice cream late at night or take up a new hobby. Being adventurous will help keep you happy. Being spontaneous can be fun!

* Getting out of debt. It’s difficult to be happy when you have debt looming over your head. Do what you can to eliminate debt as quickly as you can. The fewer bills you have each month, the more money will you will to spend on things that make you happy. Getting out of debt will leave you with less worries and more time and money for enjoyment.

* Planning for the future. Knowing that your future is secure can also help keep your happy. Be sure that you are saving for retirement so that you don’t have the worry of what life will be like when you can no longer work. Planning for the future can give you something to look forward to. Where will you travel? Do you plan on buying a retirement home? These are all things that require planning.

* Working towards your goals. Happiness comes in meeting goals. Set a few goals for yourself and strive to meet them. You will get enjoyment from the feelings of accomplishment that come from meeting your goals.

* Recycling. Having a positive impact on the earth can also help. Choose to recycle so that you can get enjoyment from doing your part to protect the planet.

* Keeping your house clean. Take a look around you. Is your house cluttered? If so, this could be taking away from your ability to be happy! Make an effort to keep your house clean so that you can relax when you come home from work. You may be surprised at how much this lifestyle change will affect your mood and happiness.
Helping other people. Living life only for yourself will leave you feeling depressed and unsatisfied. Choose to put other people before yourself and you will feel an overwhelming sense of accomplishment.

Help others so that you can help yourself be happy. Use the tips above to help change your life. Many times, it’s the little things in life that can bring about the most enjoyment and happiness. What things can you change in your life to find true happiness?

This post is written by 1001 Artificial Flowers an online shop to buy top quality fake flowers and artificial floral arrangements

Retirement ages have been pushed, stock portfolios emptied, and houses devalued. Even a solid insurance quote is hard to get these days. So, if the preceding bleak description applies to your family, you may be wondering how to handle it, how to care for your grown children without enabling them to take the decade off. Here are some tips:

Help them with their student loans, but not their cell phone bills. College degrees aren’t paying off like they used to, or at least not as quickly. This is not your kids’ fault. They had no way of knowing when they first shouldered their student loans that the economy was going to go south and stay there. No one did. Student loan payments are costly and this is a reasonable expense to help them with. However, recreational expenses (yes, a cell phone is recreational) are their responsibility. Don’t fork out cash for their cell phone bills, Netflix subscriptions, or sushi dinners.

Encourage them to ‘slum it.’ Your kids may have expected to fall directly into a Wall Street brokerage position directly out of college, but sometimes reality isn’t as rosy as we imagine it to be. They may have to ‘slum it’ and work at a restaurant, bar, or coffee shop for a couple years. There’s nothing wrong with this, and in fact, it can be a great way to save up money while living at home and planning their next moves. You should encourage them to work, no matter how menial the job, and teach them the value of a strong work ethic.

Buy a suit, but don’t write the resume. This goes back to helping with expenses while encouraging them to proactively pursue a career. Your kid should be self-motivated to put together a stellar resume (doing whatever research is necessary) and sit in on numerous job interviews. In the meantime, helping them out with the expenses of buying professional-looking clothes is good move.
With the economy going through a rough patch and unemployment rates still at record highs, this is a time when many families are finding themselves dealing with the ‘full-nest syndrome’, grown children returning from college to live at home sans a job. Do your part to nurture your kids into taking on adult responsibilities and dealing with tough times with mental toughness and a strong work ethic.

This HARP Sings a Different Tune

HARP is an acronym for the Home Affordable Refinance Program that originated in 2009. The program was established to help those whose homes lost so much value in the housing crash they now owe more on their mortgage than their home is valued at. These homeowners are so deep underwater they have been unable to obtain conventional refinancing because their houses didn’t qualify. The creation of HARP made it possible for some distressed homeowners to arrange new mortgages with more affordable terms.

The program was only going to be available for a short time, but recently the government agreed to extend the program until December, 2013. They also lifted some restrictions and made it possible for more people to qualify for the program, so even if you didn’t meet the qualifications for HARP before, you might now.

How HARP 2 Adjustments Can Benefit You

The changes in HARP 2 have transformed many formerly unqualified candidates into eligible prospects. One of the most significant differences is that the Loan to Value (LTV) cap has been lifted. Before, only homeowners whose houses were worth at least 125% of what they owned on their mortgages met the criteria. Now there is no limit as long as you choose a fixed rate mortgage.
If the lifting of that limitation made you more eligible, you could now enjoy these benefits from the HARP program

* Lower payments
* Lower interest rates which means lower overall payout
* The ability to change to a fixed rate mortgage or to shorten the term of your mortgage
* You can use any mortgage company that participates in the program, so if you’re dissatisfied with your current lender, you may choose a different mortgage company

All these things could make it possible to remain in your home and ease your financial struggles.

Who Qualifies for HARP Now

Not all homeowners who need to refinance will be able to do so with HARP. There are still restrictions. To start with, your mortgage must be backed by Fannie Mae or Freddie Mac and it must have gone to them before April 1, 2009. You can find out if yours falls into this category by going to the Fannie Mae or Freddie Mac websites.
Other qualifications include:

* You must live in the home. It must be your primary residence, not an investment property or second home.

* You must be current on your loan payments, not have any late payments in the last 6 months or more than 1 payment less than 30 days tardy in the 6 months previous to that.

* You must be able to afford the new payment.

* You must benefit from the refinancing in the form of lower payments, lower interest rates, or a more stable form of financing, such as trading an adjustable rate mortgage for a fixed-rate one.
Remember, even if you are behind on your payments now, the program has been extended until the end of 2013. If you hustle, you could still be able to catch up and qualify for the program.

If you think this program may offer the help you need, find out more at the HARP website.

George Gallagher is an economy and loan analyst and writer. His main priority is helping answer student loan consolidation questions from recent graduates.

You can control your car insurance costs by adjusting your deductibles, but be careful not to save on premiums at the expense of appropriate coverage.

Do your homework, carefully assessing your needs and studying the nuances in car insurance jargon. First, calculate how much you really could afford to pay from your own assets if you had a serious accident. Do not set your deductibles any higher than you genuinely can spend. Then, study the language: Learn the difference, for example, between “fair market value” and “full replacement cost,” because the subtle difference in phrasing can mean thousands of dollars in a pay-out and hundreds of dollars in annual premiums. Similarly, if you insure teen-aged drivers, find out your company’s definition of “full-time student” and “good student.” Full-time students with B-averages typically pay less than their C-average classmates; and, yes, girls always pay less than boys. Then, follow the experts’ five strategic tips:

• Never leave yourself stranded. As you assess how much you should cut your premiums by raising your deductibles, observe the insurance industry’s cardinal rule: Do not set your deductible higher than you realistically could afford out-of-pocket to repair your car within a few days. A 2011 survey of American families revealed that more than 80% of households could not raise $1000 for an emergency expense within thirty days. If you number among the 80% and you absolutely depend on your car for transportation to school and work, then $1000 deductibles will leave you stranded and desperate. Find other ways to adjust your premiums: change the primary driver, join a carpool to cut your average commute, take a drivers’ training class, or add extra safety and anti-theft equipment.

• Learn the real cost of repairs for your car. Some of the world’s most dependable cars are, paradoxically, extremely expensive to repair because of their super-durable construction. At the other end of the scale, some of the world’s cheapest vehicles are also notorious for high repair costs. The more fiberglass replaces metal on your car, the more expensive your repairs may be. Make sure to find out about “uni-body” construction on many Asian and European imports, because one strategically placed dent in a “uni-body” can “total” an older Hyundai, Suzuki, or Kia. Also find out the cost of replacement parts, because so-called “small” items may carry shocking price tags. Common sense suggests tail-light lenses, for example, ought to cost only a few dollars—how expensive can red plastic be? Some, however, cost over $100 because of specially molded-in visibility features. Your deductible may not cover a significant proportion of you repair costs, and your premiums may rise as a result.

• Meet your lenders’ requirements. The finance company that granted your loan or lease naturally wants to protect its investment, and your lender knows your credit history and monthly expenses, so that your contract may include not only stipulations about the kind of overage you must carry but also limits on your deductibles. The average motorist sets his or her “comprehensive” and collision deductibles at $500; your lender may prohibit your going over the industry standard.

• Get uninsured motorist coverage. Because many cash-strapped families have battled their Great Recession woes by cutting their car insurance or skipping it altogether, you cannot afford to decline uninsured motorist coverage. You need it for your family’s protection against unexpected medical costs, and you need it for your own protection against catastrophic damage to your car. In fact, your need for uninsured motorist coverage is directly proportional to your family’s dependence on the car; how long could you go without your car if you had to pay for doctors and repairs out of your own pocket? If you must raise your deductibles to afford the extra coverage, do it.

• Cut frills. You do not need rental car coverage, because you can rent a car for less than the insurance company can provide one, and you can buy the rental company’s insurance for less than the price of extra coverage on your regular policy. You also may not need full-replacement insurance on the contents of your vehicle or the after-market accessories. Check to see what your homeowner’s coverage may replace, because your tools, laptop, and other workplace essentials may be covered by one of your other policies even if thieves take them from your car. As you cut frills, you also may save by adding security features to your car: GPS tracking devices and alarms substantially cut the cost of theft insurance.

If you’re a good driver with an unblemished record, you may sometimes feel as if you are throwing your money into a black hole as you pay for car insurance. The other guys, however, are not nearly as conscientious and trustworthy as you: On any given weekend, one in four drivers is over the legal limit for alcohol, one in seven is driving without insurance, and 30% of your fellow motorists are likely to hit and run. Protect yourself and your family accordingly.

Author Stephen Anderson is an insurance consultant who strongly sugggests that you search online to Compare Car Insurance quotes to make certain you get the best possible prices. Quotes are available by state or city, such as Birmingham Car Insurance.

So, I hear you cry, how do we go about becoming empowered credit card users? Well, the answer is actually a lot simpler than you may first think. You pick a credit card that rewards you for using it instead of penalising you for using it. What I mean by this is that you should find a credit card that offers incentives. Something like the Avios Credit Card that awards air miles or the American Express Card that offers cash back or the Shell Petroleum card that offers fuel points.

Before you pick your card you need to create a plan for maximising the gains you can take out of the credit card without incurring any penalties like interest on the balance or late payment charges. The best way to do this is to find a card that suits your personality that you can easily integrate your daily habits and purchases.

Top Tip: Remember to set up a direct debit from your current account to pay off the balance of your card in full every month. This will stop you incurring any interest payments.

If you are a regular traveller then a card that would fit into your lifestyle would be the Lloyds TSB Avios Duo Card. This card allows for you to collect
“avios points”, formally known as Airmiles that can be used on a variety of flights, holidays, days out and even electronic gifts and cases of wine. This card also lets you swap points from other schemes, like Tesco Club card points, into Avios points. Therefore, you can effectively use your year of grocery shopping to buy you a ticket to an exotic destination of your choice. Not bad, eh?

If you are not much of a traveller and prefer to just get some cold hard cash back at the end of the year then opting for a card such as the Santander Cash Back Credit card will pay you back 3% of your balance. Strangely, due to the worldwide recession interest rates from regular current accounts do not reach 3%. Therefore, if you are a savvy, empowered credit card user you could earn back a couple of hundred pounds over a year for just using your credit card to pay for your fuel and groceries every month, which is more than a standard current account would offer. Again, to benefit from this scheme you need to pay off the full amount of the card every month or the interest will cancel out the gains you make.

If you like a simpler way of benefitting from a credit card, it would be best to look into some stores that you frequently shop in. For example, if you regularly buy books on Amazon you can get a discount by using the Amazon credit card to make your purchases. Or if you shop in Tesco on a regular basis then you can collect additional club card points when you use a Tesco club card.

There are many great options out there if you a looking into becoming an empowered credit card user. However, it is important to remember that the most important actions you take to become an empowered user are organisation and research. Make sure you sort out your repayments and know the rules of each card inside out. After you have this knowledge you can effectively game the system to only get benefits from your card.

What does it mean to have a constant income stream? First let us establish what it does not include. A constant income stream does not include stock investments; those only provide you capital once you choose to sell. It also does not include people who get a yearly paid vacation, and thus are technically still making money as they sit on the beach. No, the person who can constantly have money added to his bank account – even if he is thousands of miles away – is one who pursues a certain type of investment. It is the person who can go on a vacation to a warm Caribbean island, sit on the beach while sipping pina coladas, and still be growing their bank account while doing so.

So what are some investments of this sort? Specifically, where should someone with a decent yet unspectacular amount of capital invest if they want to insure a regular income stream? Here are a few of the best options:

Minimal Capital Required: Vending Machines and ATMs

Yes, the vending machines you see in public places, schools, and office buildings are often owned by an outside investor. This investor provides the capital and then receives any surplus income once supplies, maintenance, and institutional fees have been paid. It is a great starting point for those with more limited amounts to invest. If you are interested, checking out a website such as www.1800Vending.com provides a great place to start. Owning an ATM is another possibility that works on a similar level.

Maximum Capital Required: Commercial Properties

Those with slightly more capital can be landlords on a larger level. Certainly, this could entail buying and renting out apartment complexes, but being an apartment landlord usually involves higher turnover rates, more difficult tenants, and dealing with kitchen and bathroom items that regularly need maintenance. In short, owning a residential property may not afford you the ability to earn money regularly with a minimal time investment. Owning and operating a strip mall or other commercial parcel, on the other hand, can be incredibly easy and profitable.

Moderate Capital Required: Boat Slips

Let’s say that you want an investment more profitable than a vending machine, but less expensive than a commercial property. Certainly, there are many opportunities that fall into this range. But we’re going to focus on one that is often reliable and hassle free: owning and renting out a boat slip in a river or harbor. People who own boats usually have money, but due to high demand many of them don’t own a place to dock their boats. As a result they rent out a space for their boat and pay the owner a regular rental fee. This demographic can be counted on to pay without problem and to accept higher rates and fees. Even if you don’t live near a body of water, you can still do some research and invest in a boat slip in a place that is.

There are certainly countless more ways to make money consistently, do so on the side, and put in minimal work in the process. These three are some of the best options at their respective capital levels. Next time you want to be able to grow your bank account while sitting on the beach, you may want to explore making one of the above investments.

Your money IS safe…

The UK compensation system has seriously toughened up is act following the financial crisis in 2007. Money now that has been saved into a savings account or cash ISA in a high street bank, credit union, or building society are all protected under the Financial Services Compensation Scheme (FSCS). Up £85,000 per institution per person is covered and can be reclaimed should they go bust.

…but know the small details

The FSCS will cover any UK regulated bank. The majority of banks or building societies in the UK are UK regulated but foreign-owned ones such as Australian owned Clydesdale and Spain’s Santander are too. However, a few EU-owned banks can opt for a different ‘passport scheme’ meaning that a recovery of savings is entirely dependent on that particular country’s independent compensation scheme, if they have one at all. This includes Bank of Cyprus, ING Direct and Triodos. If you feel uncomfortable investing your money without the deposit guarantee scheme then you may want to avoid these banks.

Institutions and Banks – there’s a difference

It’s important to reiterate that the FSCS will cover up £85,000 per institution – not account – per person. So three accounts with one bank will still only get this £85k limit. On top of this, what constitutes an institution will depend on its banking licence. Many institutions operate under the same banking licence and it’s important to know which may be connected. For instance, Barclays and Standard Life are sister banks and therefore accounts are only covered up to £85k combined. However, although NatWest is a subsidiary of Royal Bank of Scotland (RBS) they remain separate. This means that the £85k limit applies to both banks.

The following providers are considered part of the the same bank for compensation purposes:

The AA, Bank of Scotland, Birmingham Midshres, Halifax, Saga, Intelligent Finance.
Alliance & Leicester, Cahoot, Santander.
Bank of Ireland, Post Office.
Barnsley Building Society, Chelsea, Egg, Yorkshire Building Society, Norwich & Peterborough Building Society.
Britannia Building Society, Co-op Bank, Smile.
Lloyds TSB, Cheltenham & Gloucester.

Other major banks such as Tesco Personal Finance, Sainsbury’s Bank and Natwest are all separate institutions.

The per-person rule of the FSCS means that joint-accounts will receive double the compensation – £170k.

Spreading your savings

As a consequence of the points mentioned above, savers with large amounts of money should consider spreading their savings across banks from different institutions. As a guide, savers should take interest into consideration and therefore should save a few thousand pounds less than the £85k limit. Whilst the FSCS can provide compensation up to this limit should anything go wrong, it could take anything from a week to over a month to sort out. Even savers with small amounts of money should consider spreading their money so that they have access to at least one account if another were to fold. Two accounts help mitigate the risk of total inaccessibility of your money.

Whilst this is meant as a guide, it may be of help to savers to seek independent financial advice when selecting different accounts to spread financial risk. You will still want accounts with competitive interest rates to maximise return.

This post was written by John Hughes who is the resident blogger at www.independentfinancialadvisor.co.uk, a UK based site that provides access to financial advisors as well as to debt advice charities for those struggling with their debts.

Bodily Injury and Property Damage

These are liability coverages that are included on an auto insurance policy. All states have mandates for bodily injury and property damage coverage. Bodily injury coverage pays for medical costs if the other driver in an accident is injured. Property damage liability coverage pays for the repair and replacement of damaged property. If you have a new vehicle the full amount for these coverages may be needed. 

Comprehensive and Collision 

Auto insurance policies include many types of coverage. Two that pertain directly to the vehicle include collision and comprehensive. Collision is coverage available when you are involved in an accident that involves another vehicle. Comprehensive is coverage for non-collision accidents such as fire and theft. You may only need full coverage on your auto policy for a new vehicle. If the actual case value of your vehicle is low because it is old you may only need minimum amounts or no coverage at all. 

Policy Level Discounts

Discounts are options for an auto insurance policy that are available to decrease the amount of premium that is paid. These are needed to reduce your costs and you should make sure that all discounts that you have available are on the policy. Examples of policy discounts include safe driving, accident free, having a good credit score, and using electronic funds transfer for payments. You can also receive a discount for combining multiple policies with the same insurance company. 

Minimum Coverage Requirements

Most states have minimum amounts that are required for coverages on an auto insurance policy. A state may have a minimum amount of coverage even if it is not needed by the policy holder. When you look into an auto insurance policy, the insurance agent or company representative will recommend you have more than the minimum amount of coverage. However, you are free to select any amount that you want down to the minimum required in your state. If you are involved in an accident and minimum coverage amounts do not cover the total costs to the injured person, you can be held responsible for the remainder, so only lower your coverage if you’re sure you will be able to obtain the money to cover any costs that might occur. 

Rental Car Coverage

Auto insurance includes coverages that you may not need on your policy. One type of coverage that you may not need on your auto insurance policy is rental coverage. This coverage may not be needed if you have full coverage on your policy. Check with your auto insurance company to see the coverage that is and is not available on the policy.

Personal Injury Protection

This is coverage on an auto insurance policy that pays medical expenses and lost wages that result from an accident. Coverage is provided to the driver, passengers in your vehicle, and pedestrians that suffer injury in an accident with your vehicle. States that have this coverage require minimum amounts on auto insurance policies. If you are in a state that does not require this coverage you can elect to have the minimum amount of coverage or no coverage at all.

Take some time to look at your policy and find out exactly what you’re paying for. In many cases, you have more insurance than you really need or will ever use, which is how insurance companies profit. Depending on your willingness to take risks, you may want to cut your current policy down to the bare minimum and rely on the likelihood that you won’t need to use the insurance for anything big. However, it’s important to be prepared and know how to get enough money to cover expenses if a situation does happen and you have to pay a large amount out-of-pocket.

Photo credit: My car crash by Craig Dennis

Gina Hamilton is an insurance consultant and content contributor for Kanetix. Check here for car insurance quotes from Kanetix, from the U.S. to Canada; see London insurance companies to compare rates for Toronto.