Home > Author Archives: Kim Parr

Author Archives: Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.

What is Final Expense Life Insurance?

covering end of life costs with insurance

Final expense life insurance is designed to solely cover your final expenses. This means that the funds are specifically for burial expenses, final personal bills and for medical expenses. If there are any funds left after that, the family can disperse the funds as they see fit, with approval from the life insurance company of course. When you worry about how your life insurance funds will be spent, this is the ideal option to consider since it is structured by most insurance companies. Burial Expenses The average funeral in 2014 costs $10,000 for a simple burial. This expense alone takes up a big chunk of the final expense insurance. From the embalming procedures to obtaining the death certificate, there are a lot of expenses incurred with a funeral. There are fees for gas for the vehicles driving to the cemetery, fees for using the facility for holding the service, fees for storing the deceased and many others. It is important to have enough final expense insurance to cover these costs. Burial expenses include: Publishing the obituary Printing of memorial cards Embellishments to the casket Guest books General funeral director fees Assistance from funeral home staff to set up the wake ...

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5 Things I’m Spending Too Much Money On And How I’m Going To Stop

ways to curb your spending

I’ve  noticed that our spending has crept up over the past few months, and I think I’m mostly to blame. The problem is that I can justify just about any purchase and make it seem like a necessity. That’s probably a big reason we got into so much debt a few years ago. We’re not in that situation by a long shot, but I’m not liking the trends. I’ve found that when I share my financial woes, I’m much more likely to turn negative into positive, so here are the things I’m spending too much money on and how I’m going to stop. 1) Groceries No, I won’t stop buying food, but our grocery spending has crept up since we paid off our debt. In a way, I’m OK with that because one reason to pay off debt is so you can actually buy a bag of cherries and not feel guilty about it. On the other hand, I do think I get fooled by the store’s advertising. I see things on sale and buy them, even if we don’t really need them at the time. The other day I went in for a few items and found myself buying ...

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Calculate Your Home Loan Repayments and Be Financially Ready

purchasing a home and determining payments

Australians who are getting ready to purchase a home understand the financial ramifications of such a major purchase, but many people are still too eager to take the time to step back and calculate the exact financial impact that buying a home will make. Calculating home loan repayments allows home buyers to understand how much they will need to have available each month in order to pay off their mortgage on time. The Dangers of Failing To Prepare People who are financially stable may be approved for a high amount when it comes to obtaining a mortgage. However, it is not uncommon for people who top out the amount that they are offered to struggle with repayments. Stretching the household budget too thin leaves no room for error, so any changes in income can be disastrous. How To Calculate Home Loan Repayments Home buyers will have to estimate the amount that they will be paying each month before being approved for a mortgage. Interest rates are heavily influenced by credit rating, so it is recommended that home buyers access their credit report and score before calculating estimated home loan repayments. The term of the loan, the interest rate and the ...

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Field Trip Friday

easy hike to geyser

Happy Friday! It’s not just Friday today, but Field Trip Friday! No, Field Trip Friday is not a holiday you forgot about or even want to celebrate, it’s my own creation. Our daughter’s school is out two Fridays per month for teacher development. I managed to take every one of those days off, and I am also keeping another kid whose Mom is a teacher. I’ve made it a goal to take the two kiddos on a field trip every Friday when there is no school. We live in such an amazing outdoor paradise, that I’m gonna make them get outside and appreciate all this area has to offer. While they would be happier just watching Curious George right now, someday they will thank me, right? For the last field trip, we went to the Old Hundred Gold Mine Tour in Silverton, CO. They were a little unsure about going into the mine, but they absolutely loved panning for gold, which was included in the tour. Two hours with no fights or complaints! Amazing. We also went to see Colorado’s only geyser. It’s not as cool as Old Faithful, but it’s a good hike for kids ,and they got a ...

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Owning Rental Property: Year Two

Two years of being a landlord

It’s been almost two years since we became landlords. We are not professional real estate investors in any sense of the word, just people, like many of you, who are looking at investments that will build wealth and allow us to be financially independent. Here’s how we did in year two of owning rental property. Residential Property The residential property is humming along nicely. We did turn over a tenant, but the property management company had one waiting to move in, so there was no loss of rental income. There are some things that will need to be done on this property eventually. Some of the windows should be replaced, the furnace is old, and the dishwasher and washer/dryer set are probably from the late 80’s. We are prepared for any of these expenses whenever happen, but so far, so good. I’d say we are on deferred maintenace at this point. Aside from a few minor repairs, we haven’t spent much except for property management, mortgage, and taxes. This rental has netted $4081 for the year. Not enough to retire on, but not bad for such a little house. Commercial Property I’m almost hesitant to write about this building because what ...

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