Disability insurance protects income.

Women now make up nearly half of the U.S. workforce, and they’re increasingly the primary or sole earners for their families. But just 38% have short-term disability insurance, and less than a third have long-term coverage.

Disability insurance can help replace most of your paycheck if illness or injury prevents you from working for a time. “Income is most people’s biggest asset, not their house or portfolio,” says Allstate Agency owner, Doug Myrick.

Find out what type of group disability insurance your employer offers. Some have both short-term and/or long-term disability coverage. (This coverage likely isn’t portable; if you leave your job, it terminates.)

If you’re covered by a long-term group policy, see if a typical monthly payout will handle most of your basic expenses. If that fall short, then look into buying supplemental coverage through an individual long-term policy.

Shop for a policy that replaces the most income and offers the longest benefit period that you can afford. Aim to cover at least 60% of your income, and make sure the monthly payments will last at least until Social Security benefits would kick in. Under 30? Consider a policy that offers lifetime benefits; it would be relatively inexpensive for you.

How fast they grow!  Our "baby" of the family is now officially, in his words, "a big kid now"! 
What's amazing to Kathy and I, is how quickly he picks up technology.  Lucas follows everone around, bugging them to show him how he can play games on the ipod just like them.

I wish I had a picture to show you of Lucas sitting on the couch totally absorbed in playing tetris on Kathy's ipod - it's hilarious!

Do you need to save money? Do you believe you’ve already cut back as much as you can from your expenditures in order to facilitate saving? You may be surprised to learn that there are likely still bills you can trim, fairly easily and painlessly, in order to save even more.

Energy and Utility Bills

You already know full well that utility bills can eat into your family’s budget. But what you may not know is how to cut back on them.

One of the most highly recommended (and inexpensive) ways to save is through the use of a programmable thermostat. In the middle of summer, for instance, you can program it to run a little warmer during the day when you aren’t home and then set the air conditioning cool the house down right before you get home. In the winter, you can program the thermostat to run the furnace less at night when you are sleeping and add an extra blanket to the bed instead. When it’s programmed on a timer you don’t have to worry about forgetting and running the heating and cooling system needlessly.

Are you still using old appliances? You may actually be costing yourself more money in the long run than the cost of purchasing newer ones. Today’s energy efficient appliances are not only better for the environment; they run more efficiently and cheaply than older models. A brand new, energy efficient clothes dryer will dry your clothes more thoroughly, quickly and for less than a 20-year-old model Find out more about appliances in general at www.all-about-appliances.net.

Eating/Drinking Out

If you eat out frequently, try cutting back at least one meal a week, just to see how much that can save you. You may decide the savings are so good that you cut back even more.

If you spend anywhere from $2-$5 a day on coffee drinks, invest in one of these books and start making your coffee at home or work.

• "Making Your Own Gourmet Coffee Drinks: Espressos, Cappuccinos, Lattes, Mochas and More!" by Mathew Tekulsky
• "Coffeetime Indulgences: 68 Irresistible Recipes to Serve with Coffee – Morning, Noon or Night" by Linda Hegemen and Barbara Hayford

Cable TV service

It can be all too easy to forget exactly what services you subscribe to when it comes to cable TV. Do you really use and enjoy all those premium channels? If so, then go ahead and continue to enjoy them. However, if you realize that you rarely watch them, drop them and save anywhere from $10-$50 per month. If you have one or two shows you can't live without, you may find them available on the internet.

Grocery Bills

The cost of food seems to keep going up. But there are smart strategies you can employ to combat the price increases.

• Watch for sales and then stock up.
• Comparison shop. Prices can vary widely from grocery store to grocery store.
• Join a warehouse grocery store. If you have a large family, you can probably reap the savings from buying in bulk quickly. Otherwise, share the costs and purchases with others.
• Plan your menu and grocery shopping lists in advance. Impulse buying can eat into a thrifty budget quickly.
• If you buy brand name groceries because you’re convinced they’re either of higher quality or taste better, you need to try out the store brand or generic. If you can’t tell the difference, it could result in huge savings every month in your grocery bill.

Everything Else

Visit www.billshrink.com to explore more about how to cut bills on gas, cell phone service, credit card rates and more.

As boating season starts to heat up once again, we see clients who are re-evaluating their boat insurance needs, and looking to us for advice.

There are five common mistakes boat owners make with their insurance coverage. Whether they believe they do not need insurance because they own their boat, or because the boat isn’t physically in the water during the off-season, there are widespread misconceptions about when boat insurance coverage is necessary. Any boater should have some type of coverage to protect themselves financially for the long term.

Helping customers avoid the most frequent mistakes will help our boaters on a course towards getting the best value and protection. They are:

1. Dropping Coverage – Clients sometimes drop coverage when their boat is paid off. But boat insurance covers more than just the vessel – it covers personal injuries, environmental cleanup and liability issues that could occur out on the water. And boating without any insurance coverage creates a large financial exposure that could ruin any family’s finances.
2. Picking on Price – As wallets tighten, insurance clients are more tempted than ever to shop for coverage based on price alone. But paying a little more for a policy could bring significant added value to customers. For example, paying less for insurance could mean a lower policy limit and less coverage. It is also important to fit customers with a boat insurance policy from a carrier that has strong financial ratings.
3. Reducing Liability – Clients sometimes opt to lower their liability or other limits to save on monthly premium costs. We help boaters identify the amount of coverage they need to protect other personal assets. It doesn’t make sense for them to have too much coverage and by helping them avoid having too little, we are looking out for their best interests.
4. Unaffordable Deductibles – As with any insurance product, it’s a mistake for clients to choose deductibles they can’t afford. Choosing a higher deductible may be a good way for customers to save on monthly premium costs. However, we help make sure they choose a deductible they can afford in the event of a claim.
5. Off-Season Cancelations – Many boat owners will intentionally cancel their coverage during the off-season. This over-looks many risks that could damage the boat when it’s not in the water. Dropping coverage could leave the boat owner exposed if the boat is damaged in a fire at the storage facility or if a tree crushes the boat parked in the driveway thanks to a winter ice storm.

Many boat owners may not realize their boat insurance coverage protects them from a lot more than just damage to their own boat.

Back injuries are one of the most common boating injury claims; treatment costs can exceed thousands of dollars. Without sufficient insurance coverage, the vessel owner may have to shoulder the financial burden from medical bills to treat injuries suffered onboard their boat. What’s more, the costs to repair and replace damaged property or clean up large fuel spills could be significant.

If boaters are eliminating or reducing coverage as a way to cut costs, we will prove what we bring to the table and the value of our agency. Ensuring boaters have the right coverage in today’s market is a key part of an individual’s long term financial security. Insurance is there to protect a family’s financial position and changing the policy to find a way to save money in the short term should only be done with careful consideration and guidance.

There are certainly ways to save on insurance costs, but lowing policy limits or raising deductibles could be dangerous ideas.

One example of the right ways to save on boat insurance policies is taking a boating safety class to qualify for safety credits/discounts.

And having all personal insurance policies with the same carrier will often times yield a significant cost benefit to the customer.

Boating is an activity that alleviates stress from people’s lives as they enjoy time out on the water, away from day-to-day concerns, with friends and family.

The last thing a boater wants to think about when spending time on their boat is what would happen to their finances if something went horribly wrong.

We act as partners to help boaters secure the best insurance coverage, provide peace of mind, and build loyalty with our clients as they understand we are looking out for their best interests and enabling them to enjoy boating without worries.

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The equity you've built in your home is a valuable resource. You can use it as a tool to build your wealth, or you can spend it unwisely. Ultimately, it's your choice, but here are four things most experts recommend you do not do with your home equity.

1. Do not use it to consolidate debt.
If you've racked up debt on your credit cards, you should sit down with a professional and make a plan to pay it off as efficiently and steadily as possible. A home equity loan might allow you to pay off a large chunk at once, but you'll only be transferring debt from one vehicle to another, and putting your home up as collateral as a result. Instead, commit to paying down your balances as well as putting a stop to spending more than you earn.

2. Do not use it to invest.
Unless you are certain that the ROI (rate of return) on your investment will outpace the cost of your home equity loan, you should not use home equity for investments. However, one exception would be using the funds to start or grow your own business. If you're not certain of the ROI on a potential investment, consult your financial planner or investment professional.

3. Do not use it to make improvements that vastly over-value your home.
More than one person, in the last couple of years, borrowed tens of thousands of dollars of their home equity to finish their basement, along with a tricked out, high-tech home theater system. Someone else is now enjoying that beautiful basement theater at a fraction of the cost because the home owner's improvements completely outpaced the neighborhood home values. If you're going to make improvements with your home equity loan, talk to your Realtor about the projects which will offer you the best return on your dollar as well as the current value of homes comparable to yours in your neighborhood.

4. Do not use it as income if you are over the age of 62.
If you need help with supplemental income and you are over the age of 62, it may be better for you to consider a Reverse Mortgage. With a Reverse Mortgage, you are borrowing against the equity in your home, but you don’t have to repay the loan until you move out of the home or your heirs inherit it. Proceeds from the sale go towards paying the lender back and any remaining funds go to either you or your heirs.

Don’t hesitate to discuss your home equity loan plans and options with your mortgage professional and real estate agent. They can advise you not only on the details of a home equity loan, but other options that may be better suited for your financial situation as well.