To Spend Or Not To Spend (Come On… It’s Black Friday!!!)
Posted by: BeamaLife Editor on 27 Nov, 2009
There’s an old saying that goes, “there are two kinds of people in the world: those that divide the world into two types of people, and those that don’t.” You have to love the logic of Aristotle, even when it sounds funny, like that old saying does. But a recent Gallup poll did divide people into two groups – which one are you in?
The question the Gallup pollsters asked Americans what this: which do you enjoy more, spending money, or saving money? In years past, the numbers have always been very consistent, and nearly equal, with those who said they like to save money just a bit ahead of those who like to spend it. But that’s all turning around now.
In this year’s survey, the overwhelming majority (59%) said they enjoyed saving money more. Just 37% said they enjoyed spending money more. And if you’re a member of the group of people that like to do math in their heads, congratulations! You just figured out that 4% of the survey respondents had no opinion. Don’t take any financial advice from these people…
The survey found that, regardless of income level, the numbers broke down along almost identical lines. So from the working poor to the super rich, the different isn’t about how much money you have, it’s about your mindset. And I’m sure that most people would agree that this is a very positive trend.
Now, I know that there’s a big difference between what we intend to do and what we actually do. I know plenty of peoples who are always planning to lose weight, or to start living on a budget, or to get and advanced degree. They just never get around to taking that first step. But with spending, for many people, the first step was taken for them when the stock market crashed and real estate values dropped and layoffs began.
We’ve learned, and are still learning, a hard economic lesson. Let’s keep this trend going! Whichever group you’re in – the spenders, or the savers – if you haven’t taken a look at your finances recently, do it today because its black Friday.
BeamaLife.com help you to be in 59% who like to save money rather than spend. BeamaLife.com finds the best rates on life insurance protection, simply complete our Life Insurance Quotes online request, and let us do the research for you. Whether you are looking for Term Insurance, Whole Life or Universal Life we search through over 100 highly rated life insurance companies to get the right plan for you.
Why Payday Is Becoming The Worst Day Of the Week?
Posted by: BeamaLife Editor on 18 Nov, 2009
Okay, so I’m not the biggest fan of country music, but I know a wise saying when I hear one, and recently I read where country superstar Garth Brooks once said “The greatest conflicts are not between two people, but between one person and himself.” And according to a recent study, that’s becoming more and more true for many Americans.
The Gallup Organization has been tracking people’s average daily spending habits for years, and what they’ve discovered is that whether it’s in person or online, at the grocery store or the gas station, Americans spend more money on average over the weekend days (Friday through Sunday) then they do on other days of the week. With the typical person’s busy lifestyle, Monday through Thursday don’t offer too many opportunities for shopping or other spending, so the results don’t come as any major surprise.
What is surprising is that spending goes up dramatically during weeks in which an employee gets paid. This “paycheck effect” is most likely due to the fact that many Americans of all income categories are living paycheck to paycheck, and can’t buy anything – including necessities – until the next paycheck clears. Certainly part of this problem is the economy. But a larger part is caused by the fact that most people don’t like to live within a budget. And all of that spending, when it’s not part of your long term goals, makes weekends the worst days of the week as far as your financial future is concerned.
And that’s where Garth Brooks’ observation comes in. We all struggle when there is a conflict between our short term wants and our long term goals. None of us want to continue working long past the time when we should be retired. None of us want to die leaving nothing but expenses to the ones we’ve left behind. None of us want to have to depend on others when we’re no longer able to take care of ourselves. So it’s up to us to create the plan for our future, and then to be disciplined enough to stick with the plan, no matter what.
At BeamaLife, we’re proud to provide you with the information and access to the tools you need to create the plan that will lead to the best future for yourself and your family. I can’t promise that you’ll never face a difficult decision about how to spend your money, but I really believe that when you’ve got the right plan in place, and when you focus on where you want to be 5, or 10, or 20 years from now, you’ll have far fewer conflicts with yourself. Please call one of our life insurance specialists at (877) 972-3262 to determine the right kind of life insurance & financial plan for you and for your family’s financial security or please complete life insurance quotes request form now.
Alarming News, But So Important To Know About!
Posted by: BeamaLife Editor on 12 Nov, 2009
We’re all familiar with the difficulties facing our country and fellow Americans due to the current economic downturn. But did you know that according to a recent survey, one in four Americans say that at least one member of their family has lost health insurance coverage in the last year? Those were the findings of a Zogby Interactive poll that I read recently.
Clearly the recession is affecting everyone – not just those who are young or who have low incomes. The survey found that 19% of families whose incomes topped $100,000 a year had a member who lost their health insurance coverage and 18% of people 65 or older had the same experience. And even for those with health insurance coverage, having the ability to pay for the medical care they need is becoming more difficult.
The survey reported that 28% of respondents said that they or a member of their immediate family had, at some point in the last 12 months, been unable to get the treatment they needed. The reasons were consistent: 67% said they could not afford the treatment, 58% said they did not have health insurance at their time of medical need, and 48% said that their health insurance would not cover the prescribed treatment.
In many cases, when you lose your job, you have the ability to remain on the group health plan through the Federal Government’s COBRA provisions, which have been enhanced during these difficult economic times. And many states have enacted similar laws as well. If you’re not eligible for COBRA or state continuation, it pays to look at individual coverage options. Even a high-deductible or limited coverage plan is better than no coverage at all.
Health care reform may be on the way, with the House of Representative passing their version of a health insurance reform bill this past weekend. I’d love to hear your thoughts about the proposal!
Learn more about best life insurance plans and get your most affordable life insurance quotes online now.
Is This The Key To Happiness?
Posted by: BeamaLife Editor on 10 Nov, 2009
Aristotle once wrote that “happiness is the highest good” because it’s the only thing that we don’t pursue for the sake of something else. Think about it. Why do we work hard? We may love our work, but for most people, work is about making money. And having money is about being secure, and being able to do what you want. And being secure and being able to do what you want is about being happy. See how this goes?
The Gallup organization recently released a study that found the happiest people in any occupation were business owners. That’s no surprise to me – the happiest clients I work with are the ones who put in the long hours, who love what they do, and who have chosen their own path in life. They are business owners, even if the business is consulting, or IT, or even a professional one, like a medical or dental practice. When you’re in charge, you always have a superior relationship with your boss! And if you don’t like the work environment, you’re the one with the authority to change things around. Don’t like the direction the business is going? Choose a new direction.
Now, I know how hard it is running a business these days – I’m a business owner, too. The business environment is always tough, and sometimes the government and the economy can make life as a business owner even harder. But I also know that there’s a sense of real satisfaction that comes from making your business a success, and that’s impossible to find when you’re working for someone else.
When I was just staring out, my mentor gave me this advice: “when you love what you do, you’ll never work another day in your life.” I love what I do – I get to help you to protect what’s most important in your life may it be an ability to earn, the security of your family or your retirement income through disability insurance, life insurance and retirement plans. So, to all of you who’ve placed your trust in BeamaLife, I want to say “thank you” and “here’s to happiness!”
ING Announces Plans To Sell Insurance Operations
Posted by: BeamaLife Editor on 5 Nov, 2009
ING – one of the largest financial services groups based in Europe with a significant presence in the United States, announced plans to split its banking and insurance/investment management operations with the goal of selling off its insurance operations over the next few years.
ING is selling its insurance business to gain approval from European competition authorities for the state-backed bail-out it received during the financial crisis. The business decision to sell off assets was because of an intervention by the European competition authorities and may take years to unfold as ING will seek to get the best price for these operations to repay the Dutch government.
ING carries secure, investment-grade ratings from all life insurance company ratings organizations and continues to have a broad portfolio of consumer-friendly life insurance and annuity products. I believe ING have some very distinct competitive advantages in the marketplace and are continue to market these products. In no way should we be concerned with the ING products that our clients currently hold or may be contemplating purchasing in the near future.
