Ways You Should Not Save Money This Year

January 3, 2009 by  
Filed under Financial Planning, Insurance

The popular media are chock full of ideas on how consumers can save money this year.  The frugalists who write personal finance blogs are particularly good at identifying clever and unique ways of saving money on almost anything you can think of.

Unfortunately, I have been reading articles in my local paper and elsewhere that some people are saving money in ways that are shortsighted and financially risky.  That got me thinking that maybe someone should point out those mistakes and perhaps prevent others from doing the same things.   So I appointed myself – Mr. ToughMoneyLove – to do that job.
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Time for a Closer Look at Long-Term Care Insurance

October 16, 2008 by  
Filed under Financial Planning, Insurance

Mr. ToughMoneyLove is looking again at long-term care insurance.  So should many of you.  I will tell you why in a minute.  First, let’s deal with a misconception that you may have….. Read more

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Are Defaulting Homeowners “Victims”?

On my ride into work this morning, a radio host was interviewing the director of the New Jersey animal shelter where the recently famous forty-four pound cat “Prince Chunk” is now living.  When the host inquired as to how the fat cat happened to arrive at the shelter, she was told that the cat’s owner was a victim of foreclosure and had to abandon the monstrous feline. Read more

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Why You Need Disability Insurance to Protect Your Family

July 23, 2008 by  
Filed under Insurance

Most adults with dependent children have a basic appreciation of the need for life insurance to protect their dependents.  (Of course, many of these same adults purchase too much, too little, or the wrong kind of life insurance but that will be a topic for another day.)  What disturbs me is that all too often the need for disability insurance is completely ignored. This is dysfunctional money behavior by folks who should know better.
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