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Personal Finance Tips

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Things to know about the new bankruptcy law.

*Creditors are much more likely to go after all your disposable income.

*Under the new bankruptcy law retirement accounts such as 401ks and IRAs are protected up to $1 million.

Buy an umbrella insurance policy--(they can be had for less than $200 if you shop around) you can get a $1 million policy. But be sure you know what kind of deductible it has. For instance if the umbrella policy has a $300 deductible and you only have a $250 maximum on your homeowners policy you can be stuck for the $50 in the middle so you might want to up your homeowners coverage to make up the difference. If you have many assets strongly consider purchasing umbrella policy.

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The July 2005 issue of Smart Money magazine reports that more and more companies are cutting back on disability insurance while long-term illnesses and injuries are rising. Be sure to check if your employer offers short-term and long-term disability insurance and make sure you have coverage there or somewhere. According to SM a 2002 survey found that only 40% of companies offer long-term coverage down from 63% in 1998.

Some companies pay disability during the first 90 days and some don't--know your situation. Find out if you have a gap between any short-term coverage and when long-term coverage will start paying.

Disability Tax Gotcha--if your employer pays all or part of your disability premiums you will owe tax on the corresponding portion of your benefits.

Only 31% of companies continue medical insurance coverage for disabled employees for the entire time they are on leave. Know your cut-off date.

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A little known fact among consumers (because your cable company won't tell you) is that a federal law allows you to buy premium cable channels individually with just the basic cable service. So you don't have to buy standard package with loads of channels you don't want--you will have to ask your cable supplier for it though since they won't tell you about it.

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With some cable companies if enough people in location such as an apartment building subscribe to their service you can get a group discount. check with your provider to see how many of the neighbors you need to round up--you may already qualify.

Likewise, if enough people in your workplace, church, or other organization all subscribe to the same cell phone provider you may qualify for a group discount.

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Use a pre-paid cell phone plan if you only carry your phone for emergencies

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Get a programmable thermostat for around $50 and it will keep your tempature at one setting during the day say 70 degrees and automatically drop it to 55 degrees during the night thus saving you on your heating bill. Also use a humidifer it can make the room feel warmer and reduce the need to run the heat as much.

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Web Sites You Can Use

Let Cruises Compete for Your Business:

cruisecompete.com

Last minute bookings:

us.lastminute.com

Quotes on what a lumpsum annuity based on various criteria will give you each month:

annuityshopper.com

High Yields on Canadian Securities:

www.canadianedge.com

Vacation Rentals

Considering renting a vacation home or condo instead of staying at a hotel.

orlandovillaowners.com

tahoecabinrentals.com

hawaiicondosbyowner.com

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