“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

 

– Owen

How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need?

How much life insurance do you need? Just enough, that’s how much.

Buying too much life insurance is a common problem. It’s an understandable problem, but a problem none the less. Buying life insurance is a tough decision. It’s emotional and it’s easy to get away from the cold hard facts.

If it wasn’t hard enough, insurance companies also make it very enticing to buy more life insurance than you need. The price for the next $250,000 of life insurance is usually quite a bit less than the first $250,000. This makes it very appealing to over-insure yourself. You think “why not buy an extra quarter million, it’s only an extra $15 per month?”

But buying life insurance rarely aligns with someone’s personal values. No one wants to buy life insurance. Life insurance isn’t fun, it doesn’t bring you joy, and the only time it becomes useful is when you’re no longer around. What you value about life insurance is the security it provides. So why buy more than you absolutely need?

When buying life insurance, you want to buy just enough to provide that security and not a penny more. So how much life insurance do you need?

read more
When Do I Need Life Insurance?

When Do I Need Life Insurance?

Insurance helps you manage risk. Specifically, financial risk.

Insurance is great for highly unlikely but catastrophic risks. Things like a car accident, large medical expense, house fire, or an unexpected death.

Each of these risks could have massive financial consequences if they were to happen.

Luckily, the chances of these happening are extremely slim, however, there is always still a chance. Buying insurance helps you mitigate that very small chance by insuring against it. If you do experience some bad luck, your insurance will help cover the financial impact.

Before we jump into when you might consider life insurance let’s first cover what insurance is in general.

read more
Why is money important to you? To me?

Why is money important to you? To me?

Money is important. No doubt about it. Without money you couldn’t buy food, or buy clothes, or put a roof over your head. Obviously, we all need some money to survive. But have you ever stopped to think about why money is important to you?

Once those basic survival needs are taken care of, things become a little more interesting; suddenly the importance of money changes from person to person.

Have you ever been amazed by what other people spend their extra money on? How much they spend on certain activities, hobbies, toys, or vacations?

Or perhaps you’ve been questioned on your spending decisions by a friend, a co-worker, or maybe even a partner?!?

It’s easy to forget that we all value things differently and that we make spending choices accordingly.

Why money is important to me could be very different from why money is important to you. Even between partners there can be confusion and frustration about why money is important.

At the end of the post I’ll share with you my financial values. You’ll have the opportunity to find out what your financial values are too!

read more
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Owen Winkelmolen

Financial planner, personal finance geek and founder of PlanEasy.

“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

 

– Owen

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How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need?

How much life insurance do you need? Just enough, that’s how much.

Buying too much life insurance is a common problem. It’s an understandable problem, but a problem none the less. Buying life insurance is a tough decision. It’s emotional and it’s easy to get away from the cold hard facts.

If it wasn’t hard enough, insurance companies also make it very enticing to buy more life insurance than you need. The price for the next $250,000 of life insurance is usually quite a bit less than the first $250,000. This makes it very appealing to over-insure yourself. You think “why not buy an extra quarter million, it’s only an extra $15 per month?”

But buying life insurance rarely aligns with someone’s personal values. No one wants to buy life insurance. Life insurance isn’t fun, it doesn’t bring you joy, and the only time it becomes useful is when you’re no longer around. What you value about life insurance is the security it provides. So why buy more than you absolutely need?

When buying life insurance, you want to buy just enough to provide that security and not a penny more. So how much life insurance do you need?

read more
When Do I Need Life Insurance?

When Do I Need Life Insurance?

Insurance helps you manage risk. Specifically, financial risk.

Insurance is great for highly unlikely but catastrophic risks. Things like a car accident, large medical expense, house fire, or an unexpected death.

Each of these risks could have massive financial consequences if they were to happen.

Luckily, the chances of these happening are extremely slim, however, there is always still a chance. Buying insurance helps you mitigate that very small chance by insuring against it. If you do experience some bad luck, your insurance will help cover the financial impact.

Before we jump into when you might consider life insurance let’s first cover what insurance is in general.

read more
Why is money important to you? To me?

Why is money important to you? To me?

Money is important. No doubt about it. Without money you couldn’t buy food, or buy clothes, or put a roof over your head. Obviously, we all need some money to survive. But have you ever stopped to think about why money is important to you?

Once those basic survival needs are taken care of, things become a little more interesting; suddenly the importance of money changes from person to person.

Have you ever been amazed by what other people spend their extra money on? How much they spend on certain activities, hobbies, toys, or vacations?

Or perhaps you’ve been questioned on your spending decisions by a friend, a co-worker, or maybe even a partner?!?

It’s easy to forget that we all value things differently and that we make spending choices accordingly.

Why money is important to me could be very different from why money is important to you. Even between partners there can be confusion and frustration about why money is important.

At the end of the post I’ll share with you my financial values. You’ll have the opportunity to find out what your financial values are too!

read more
Page 1 of 1912345...

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