What Is Affirm?

What Is Affirm? How It Works & When to Use It for Smart Personal Finance

What Is Affirm and How Does It Work? A Personal Finance Guide

If you’ve shopped online lately, you’ve probably seen the option to “Buy Now, Pay Later with Affirm.” It sounds appealing - split your purchase into manageable payments, sometimes with 0% interest. But is it a smart financial move?

In this guide, we’ll cover:

• What Affirm is and how it works
• Whether Affirm is better than a credit card
• When it makes sense to use Affirm
• Tips to use it responsibly 

🔍 What Is Affirm?

Affirm is a Buy Now, Pay Later (BNPL) platform that lets you finance purchases over time instead of paying the full amount upfront. It partners with major retailers like:

• Apple
• Walmart
• Peloton
• Expedia

When you choose Affirm at checkout, you’ll typically see options to:

• Pay in 4 (four interest-free payments every two weeks)
• Pay monthly (installments over 3 to 60 months, depending on purchase size)

Interest rates can range from 0% to 36% APR, depending on your credit and the retailer.

💳 How Affirm Works: Step-by-Step

Select Affirm at Checkout
Choose Affirm as your payment method when shopping online or in-store with participating partners.

Get Prequalified
Affirm performs a soft credit check (no impact on your score) to determine eligibility.

Choose a Payment Plan
You’ll see a few installment options - including duration and interest rate - before confirming.

Make Monthly Payments
Payments are made via the Affirm app or website. You can use a debit card, bank account, or autopay.

⚖️ Affirm vs. Credit Cards: Which Is Better?

Feature	Affirm	Credit Cards
APR	0%-36%	21% average (often 0% intro offers)
Late Fees	None	Yes (typically $25-$40)
Interest Accrual	Fixed, upfront	Rolling, variable
Rewards	❌ None	✅ Yes (cash back, points)
Credit Check	Soft pull	Hard pull

🟢 When Affirm Wins:

• You’re offered a 0% APR promo
• You want predictable monthly payments
• You want to avoid late fees

🔴 When Credit Cards Win:

• You want to earn rewards
• You can qualify for a 0% intro APR card
• You need flexible spending power

🧠 Smart Ways to Use Affirm for Personal Finance

✅ 1. Budget Big Purchases Without Interest

Buying a new phone, mattress, or laptop? If you get a 0% APR offer, it’s essentially free financing - no interest, no hidden fees.

✅ 2. Avoid Credit Card Debt Traps

Credit cards can lure you into minimum payments and mounting interest. Affirm gives you a clear end-date with fixed payments.

✅ 3. Build Credit (Carefully)

Paying on time could help your credit score, especially if you’re new to credit or attempting to rebuild your credit. As of April 1, 2025, all of Affirm's payment plans and payment activity opened and generated on or after this date are being reported to the credit bureau Experian. As of May 1, 2025, all plans and activity opened and generated on or after this date are also being reported to the credit bureau TransUnion. For plans opened prior to April 1, 2025, only a limited number of plans and certain information on activity were reported to Experian, only. Please see this page on Affirm's own website for more information on how Affirm is reporting to the credit bureaus.

✅ 4. Maintain Financial Discipline

Because each Affirm loan is tied to a specific purchase, it prevents the revolving temptation of a credit card limit.

⚠️ Risks and Pitfalls of Using Affirm

Like any form of debt, Affirm can be risky if you don’t use it wisely.

• Interest rates can be high (up to 36% APR)
• Too many loans = budget overload
• Missed payments can hurt your credit
• May tempt overspending - buying what you don’t need

🧾 Tips to Use Affirm Responsibly

✅ Stick to 0% APR offers only
✅ Use it for essentials or large purchases, not impulse buys
✅ Limit yourself to one Affirm loan at a time
✅ Set up automatic payments to avoid missing due dates
✅ Compare Affirm’s APR to your credit card or personal loan rates before accepting

🎯 Should You Use Affirm? Final Thoughts

Affirm is not free money. But when used strategically, it can be a great personal finance tool, especially if:

• You’re offered 0% APR
• You need to space out a big purchase
• You want a simple, transparent payment plan

Just remember: the goal is to control your spending, not let another app control you.

🙋‍♀️ FAQ: Affirm and Personal Finance

❓Does Affirm affect your credit score?

Affirm uses a soft credit check that won’t impact your score when applying. But if you’re approved for a loan on or after April 1, 2025, your loan and all associated account activity is being reported to the credit bureau Experian. Loans and activity opened on or after May 1, 2025 are also being reported to TransUnion. Therefore, any missed payments can certainly hurt your credit. On the flip side, paying your Affirm loan on time could boost your credit score. This is especially helpful if you’re new to credit or attempting to rebuild your credit.

❓Can you pay off an Affirm loan early?

Yes - and there are no penalties for paying early. In fact, it can reduce the total interest you pay.

❓Is Affirm a good alternative to a credit card?

Yes, in certain situations - especially when you’re offered 0% APR or want the comfort and predictability of an unchanging payment schedule.

📌 Summary: Affirm at a Glance

Pros	Cons
0% APR offers available	High APRs possible (up to 36%)
No late fees or hidden charges	No rewards or perks
Clear, fixed payment terms	Can tempt unnecessary spending
Soft credit check	Not all loans (opened before April 1, 2025) reported to credit bureaus

Want help deciding whether Affirm or another financing option is best for your next big purchase? Drop your question in the comments, and/or bookmark this guide to refer back to next time you check out. Browse the library of personal finance articles here at Mr. Robertson's Corner blog for additional tips, strategies, and how-to guides to save, invest, budget, and spend wisely.

What is a good credit score?

Understanding the credit system: A guide for middle school students

Imagine your friend wants to borrow your favorite video game. You’d probably think: Can I trust them to return it? Will they take care of it? If they’ve borrowed stuff before and returned it on time in good condition, you’ll probably say yes. If not, you might say no. That’s exactly how the credit system works in the real world, except instead of games, it’s money.

What is credit?

Credit is when someone lets you borrow money with the promise that you’ll pay it back later. It’s used for things like buying a car, going to college, or even getting a phone plan. You might not have the cash right away, so credit helps you get what you need now and pay over time. 

What is a credit score?

Your credit score is a number that shows how trustworthy you are with borrowing money. It’s kind of like a grade on your report card, but for money. It usually ranges from 300 to 850. The higher your score, the more likely banks or companies will trust you and offer better deals.

Here's a breakdown:

• 750–850: Excellent – You’re doing great.
• 700–749: Good – You’re doing well.
• 650–699: Fair – Not bad, but needs work.
• 600–649: Poor – You’re having trouble.
• Below 600: Bad – Lenders won’t trust you easily.

How is your credit score calculated?

It’s based on a few key things:

• Payment History (35%) – Do you pay your bills on time?
• Amounts Owed (30%) – How much do you owe compared to how much credit you have?
• Length of Credit History (15%) – How long have you been using credit?
• New Credit (10%) – Have you opened a lot of new credit accounts recently?
• Credit Mix (10%) – Do you have different types of credit (like a loan and a credit card)?

How to build credit

Even though middle schoolers aren’t using credit yet, it’s helpful to know how it works so you’re ready when the time comes. Here are smart ways to build good credit later:

• Get a credit card with a low limit when you're old enough (usually 18). Start small, like using it for gas or a phone bill, and pay it off every month.
• Always pay your bills on time. That includes phone plans, subscriptions, and anything else with regular payments.
• Don’t borrow more than you can pay back. Only spend what you know you can afford to repay.
• Keep old accounts open. The longer you’ve had credit, the better your score gets.
• Check your credit reports for mistakes. You can do this for free once a year to make sure everything looks right.

What hurts your credit?

Just like missing homework or being late to class affects your grades, certain things can hurt your credit:

• Missing payments: Paying late or not at all is one of the worst things for your credit.
• Maxing out your credit card: Using up all your available credit makes lenders nervous.
• Applying for too much credit at once: It looks like you’re desperate for money.
• Defaulting on loans: That means you stopped paying, and it can wreck your credit for years.

Why credit matters

Good credit helps you:

• Get approved for apartments, loans, and phones.
• Pay less in interest (extra money you pay when you borrow).
• Get better job offers – yes, some employers check credit!

Bad credit makes life harder. You may be denied for things you need, or you’ll have to pay a lot more in fees.

Final thoughts

Think of credit as your financial reputation. The way you treat money now, even with things like saving and budgeting, can help you make smart choices later. Start with good habits early, and by the time you need credit, you’ll be ready to use it wisely.

Banks vs credit unions

Banks vs. credit unions: Understanding the similarities and differences

When it comes to managing money, many people use either a bank or a credit union. Both are financial institutions where you can save money, get loans, and handle other financial tasks. However, they operate differently and have distinct features. Let’s explore the similarities and differences between banks and credit unions in a way that’s easy to understand.

Similarities between banks and credit unions

• Savings accounts: Both banks and credit unions offer savings accounts where you can keep your money safe and earn a little interest over time.
• Checking accounts: They both provide checking accounts that allow you to deposit money, write checks, and use a debit card to make purchases or withdraw cash.
• Loans: Whether you need money to buy a car, go to college, or purchase a house, both banks and credit unions offer loans. You borrow money and pay it back with interest over time.
• Online services: Both institutions have websites and apps that let you check your account balances, transfer money, and pay bills online, making managing your money convenient.

Differences between banks and credit unions

Ownership:

• Banks: Banks are for-profit businesses owned by shareholders. Their goal is to make money for these shareholders.
• Credit unions: Credit unions are non-profit organizations owned by their members. When you open an account at a credit union, you become a member and part-owner.

Profit distribution:

• Banks: Profits made by banks go to their shareholders in the form of dividends.
• Credit unions: Any profits made by credit unions are returned to members through lower fees, higher interest rates on savings, and lower interest rates on loans.

Eligibility:

• Banks: Anyone can open an account at a bank, provided they meet the bank’s requirements.
• Credit unions: To open an account at a credit union, you usually need to meet certain criteria, like living in a specific area, working for a particular employer, or belonging to an organization.

Service focus:

• Banks: Banks often offer a wider variety of services, including international services and business accounts, and they tend to have more branches and ATMs.
• Credit unions: Credit unions may have fewer branches and ATMs, but they often provide more personalized service and are known for helping their members with financial education and support.

Interest rates and fees:

• Banks: Banks may have higher fees and offer lower interest rates on savings compared to credit unions.
• Credit unions: Credit unions generally have lower fees and provide higher interest rates on savings accounts because they return profits to their members.

Choosing between a bank and a credit union

When deciding whether to use a bank or a credit union, consider what is most important to you. If you prefer a wide range of services and easy access to branches and ATMs, a bank might be the better choice. However, if you value lower fees, higher savings rates, and a community-focused approach, a credit union could be the way to go.

In conclusion, both banks and credit unions serve the essential function of helping people manage their money. While they share some similarities in the services they offer, their differences in ownership, profit distribution, eligibility, service focus, and fees make each suitable for different needs. Understanding these differences can help you make an informed decision about where to keep and manage your money.

Why buy long-term care insurance

What young people need to know about long-term care insurance, and reasons why young people should purchase long-term care insurance.

Introduction

Long-term care insurance is a type of insurance designed to cover the costs associated with long-term care, such as custodial care, home health services, and nursing home expenses. It’s an important coverage for seniors, but it’s also something that young people need to consider. Here are some reasons why young people should think about purchasing long-term care insurance.

1. Affordable premiums: Long-term care insurance policies are more affordable when they are purchased at a younger age. That’s because younger people are less likely to make claims and therefore pose less risk to the insurer. As a result, premiums can often be significantly lower than those of someone who waits until later in life to purchase a policy.

2. Peace of mind: By purchasing long-term care insurance early on, you can rest assured knowing that if you ever do need long-term care services in the future, you will be covered. This peace of mind can be invaluable for young people who may not have the financial resources to pay for long-term care out of pocket.

3. Tax benefits: Depending on where you live, purchasing long-term care insurance may qualify you for tax deductions or credits which can save you money down the line. This can be especially helpful for young people who may already have limited disposable income and need all the help they can get when it comes to managing their finances responsibly.

Conclusion

Long-term care insurance is often seen as something that only older people need to worry about, but this isn't necessarily true. Purchasing a policy at a younger age has many benefits including lower premiums and potential tax savings down the line. Young people should consider speaking with an experienced investment advisor or financial planner before making any decisions regarding long-term care insurance in order to ensure they make the right choice for their individual situation.

Coin collecting for young people

Coin collecting: The fun, fascinating hobby for young people

Introduction

Coin collecting is a rewarding hobby that has been around since the 1500s. It is a fun activity that can be enjoyed by both individuals and families of all ages. For middle school students and high school students in particular, coin collecting provides an opportunity to learn about history, economics, geography, and fascinating stories about peoples and places. Here, we will discuss why young people should consider taking up this fascinating hobby. At the very end of this blog post is a partial list of some of the types of coins and collections that can be built through coin collecting.

The benefits of coin collecting for young people

Coin collecting is more than just about the coins themselves - it involves learning about world history, economics, geography, and stories. By studying coins from different countries throughout the world and different eras of history, young people can learn about the values and cultures of those parts of the world in a way that is both educational and enjoyable. In addition to gaining knowledge through coin collecting, younger hobbyists also gain a better understanding of money management as they save up to buy their coins and track their collection's value over time.

Coin collecting also exposes young people to a community of like-minded individuals who share their interest in coins. There are many coin clubs and organizations where young collectors can meet other enthusiasts who can introduce them to new information or help them find unique pieces for their collections. These groups provide an opportunity for members to share their knowledge with each other in an environment that encourages learning while having fun!

Finally, coin collecting has its own rewards beyond knowledge acquisition or forming friendships with fellow collectors - it offers financial gains, too! Coins are valuable investments which may increase in value over time if they are properly cared for and maintained. As such, coin collecting serves as an excellent introduction into the field of investing for younger hobbyists who want to explore how currencies change over time or how certain rare coins can be worth more than others due to rarity or condition.

Conclusion

Coin collecting provides endless opportunities for learning about different cultures throughout history while forming relationships with fellow collectors - all while having fun! Whether you're looking for something educational or just want to collect rare coins as an investment opportunity, there's something here for everyone! So don't wait any longer - start your coin collection today!

Some of the types of coins and collections that can be built through coin collecting

US coins

There are a wide variety of US coins that can be collected, including Indian Head and Lincoln pennies, Jefferson nickels, Mercury and Roosevelt dimes, Washington quarters, [Benjamin] Franklin and Kennedy half-dollars, and Eisenhower dollars. US coins can be collected by date, mint mark, or type.

Foreign coins

Foreign coins can also be collected, and there are many different ways to collect them. One way is to collect coins from a specific country. Another way is to collect coins from a specific time period. For example, you could collect ancient Roman coins or medieval European coins. You could also collect coins from a specific region, such as Asia or Africa.

Gold coins

Gold coins are another type of coin that can be collected. Gold coins can be from any country and any time period. One of the most popular gold coins to collect is the American Gold Eagle, which was first minted in 1986. Other popular gold coins include the Canadian Gold Maple Leaf and the South African Gold Krugerrand.

Silver coins

Silver coins are another type of coin that can be collected. Silver coins can also be from any country and any time period. One of the most popular silver coins to collect is the American Silver Eagle, which was first minted in 1986. Other popular silver coins include the Canadian Silver Maple Leaf and the Mexican Silver Libertad. Also, here in the United States, dimes, quarters, and half-dollars minted through 1964 contain 90% silver. These coins are often known as "junk silver" in the industry/hobby because they were common coins meant for everyday commerce and usage.

Copper coins

Copper coins are another type of coin that can be collected. Copper coins can also be from any country and any time period. One of the most popular copper coins to collect is the Lincoln cent, which was first minted in 1909.

Learning investing in high school

Learning the basics of investing in high school

What are examples of credible online resources where high school students can begin to learn the basics of investing principles and learn about different types of investments?

Introduction

It’s never too early to start learning about investing. With so many resources available, high school students can begin to understand the basics of investing principles and learn more about different types of investments. If you’re a high school student, teacher, parent, or investment advisor, here are some credible online resources to get started.

Online resources that teach investing principles and strategies

The Motley Fool

The Motley Fool is an online financial service that provides investors with financial advice on stocks, mutual funds, and ETFs (Exchange Traded Funds). The website has a “Financial Education” section that offers free courses on topics such as beginning investing, building wealth, and retirement planning. There are also articles from their staff of experts and videos from their team of analysts.

Investopedia

Investopedia is a comprehensive online resource for all things related to finance and investing. This resource includes tutorials on topics such as stock trading and technical analysis, news articles about current financial events, calculators to figure out debt-to-income ratio or net worth, and even assessments to help test your knowledge. Investopedia also has a blog that provides tips on how young investors can start making smart decisions with their money.

Khan Academy

Khan Academy is a nonprofit organization dedicated to providing free education in various subjects all around the world. Khan Academy’s “Finance and Capital Markets” section provides tutorials on topics such as stock markets, bonds, mutual funds, and taxes, among others. Their lessons are designed for learners of any age group - from high schoolers looking to gain some basic understanding about finance, to college-level students needing more advanced materials for their studies.

Conclusion

Investing is an important skill for anyone who wants to build wealth over time - even if you’re just starting out in high school! Luckily, there are plenty of credible online resources where you can learn the basics of investing principles and find out more about different types of investments in order to make informed decisions when it comes time to invest your money wisely. So take advantage of these opportunities now so that you can be prepared when it comes time for you to invest your money!

Personal finance resources for students and teachers

Personal finance simulation games

The following links provide detailed descriptions and reviews of, along with discussion questions for, personal finance simulation games.

"Build Your Stax" personal finance game - You have 20 years to make as much money as you can through seven different types of investments. As the game goes on, you'll be confronted with unexpected expenses that pop up in real, everyday life, costs like home repairs, family emergencies, and speeding tickets. Sometimes, you might gain money unexpectedly, too, like winning a prize or contest, or finding money on the ground.

"Time for Payback" personal finance game - Your ultimate goal is to survive to the end of the game, meaning you graduated college, managed to juggle all your priorities, and found employment with a starting salary that adequately covers all the debt you accumulated during your college years through your various choices and decisions. Will you make it?

"PlaySpent.org" personal finance game - Can you survive financially for one month? This is a very eye-opening, thought-provoking simulation. The decisions you'll have to make, and the situations you'll encounter, mirror everyday real life for a lot of people. You'll learn a lot about yourself, including your spending habits, your goals and ambitions, how you reason through decisions, and what you're willing, or not willing, to sacrifice.

"Monopoly" as a personal finance game - On the surface, it may appear that Monopoly is an awesome game when it comes to teaching entrepreneurship, and it is, right? But Monopoly is also wonderful at teaching us some things about personal finance, if we dig a little deeper.

Essays and reflections on the benefits of living simply, saving, and strategizing

The Minimalists - Meet The Minimalists, Joshua Fields Millburn and Ryan Nicodemus, who present a compelling case that getting rid of all the clutter in your life - the clothes you never wear; all the stuff in your basement, closets, and/or storage unit you're not using; the long hours you're working and mounds of debt you're taking on in order to keep up appearances and look "successful" to all your friends, neighbors, co-workers, and perhaps even family members ("Keeping up with the Joneses"), etc., etc. - can help you live a more meaningful, purposeful life. Learn a little bit about their personal journeys and how they, in turn, learned these valuable lessons in some pretty hard ways.

Dave Ramsey and The Minimalists - Learn how personal finance guru the legendary Dave Ramsey approaches the subject of money in comparison to The Minimalists. We'll discover that they arrive at the same conclusions, but perhaps just take slightly different perspectives to get there.

Building your own personal economy - Written in May 2020. If the coronavirus pandemic can teach us anything from a financial standpoint, it's that we each need to focus on building our own personal economies. We can't trust, or rely on, other people, politicians, or broken-down systems to do that for us.

Strategies for saving money

The envelope budgeting system - a timeless, classic strategy for easily paying the bills while paying yourself - if you're willing to cultivate and maintain a little discipline.

Browse our "Shopping" category - a collection of previous blog posts offering all sorts of tips and strategies on how to save money on groceries, dining out, car insurance, cell phone expenses, Christmas gifts, and a lot more!

30 Easy Ways to Save Up to $1,000 - presented by Dave Ramsey and his team

How to Save Money: 22 Simple Tips - presented by Dave Ramsey and his team

How to Save Money Fast - presented by Dave Ramsey and his team

Complete personal finance curriculum for your classroom

Next Gen Personal Finance

Practical Money Skills - sponsored by Visa

Practical Money Skills curriculum for students with special needs

Personal finance vocabulary

Personal finance vocabulary list - a good starter list for high school students of common vocabulary terms, along with brief definitions and practical examples for each word.

Difference between stocks and bonds - a great blog post with easy-to-understand explanations about these two different forms of investments.

Living on your own, paying taxes, credit cards, understanding your paycheck, more

Getting Started Teaching Personal Finance - an awesome article written for Edutopia by Kailen Stover, a family and consumer sciences teacher in Colorado. From the article: "Lessons on credit and credit cards, taxes, and how to find an apartment and make the rent are invaluable for high school students. Here is a beginner’s guide to building hands-on and real-world opportunities into personal finance education."

Anatomy of a paycheck - a great video lesson, only a little over five minutes long, given by Sal Khan over at Khan Academy. In this video, Sal breaks down all the expenses and deductions that come with your paycheck. You may have heard of, or have already used, Khan Academy before. Launched by Sal himself, a Harvard and Massachusetts Institute of Technology (MIT) –educated former hedge fund analyst, the Khan Academy is a free online education platform. The Web site features an extensive variety of courses and tutorials in areas like math, science and engineering, computer programming, arts and humanities, economics and finance, test prep, career exploration, the college admissions process, and a lot more. Within the economics and finance course offerings, Khan has a subcategory devoted to entrepreneurship, featuring exclusive interviews and conversations he conducts with top entrepreneurs and business leaders.

If your school/district or home/family has a BrainPOP subscription, look these subjects up on BrainPOP for great video lessons, quizzes, games, and other learning activities:

• Credit Cards
• Taxes
• Budgets
• Comparing Prices
• Mortgages
• Debt
• Banking
• Interest

Monopoly as a personal finance game

Here's an online version of Monopoly from Free Web Arcade. I really like this version. It's pretty slimmed down and streamlined, which is to say there aren't a lot of bells and whistles here. There's not even any background music or sounds, which is fine by me - I just open up YouTube in another tab and listen to some of my favorite tunes while playing.

On the surface, it may appear that Monopoly is an awesome game when it comes to teaching entrepreneurship, and it is, right? After all, you're trying to build your own little real estate empire and send your competitors to bankruptcy court. It's a great game in business education. It's actually quite brilliant, a testament to the game's longevity and the high number of versions and spinoffs that were spawned by the original. This game has it all - buying and selling, risk, chance, opportunity, choice, negotiation and deal making, and so on.

But Monopoly is also wonderful at teaching us some things about personal finance, if we dig a little deeper. And certainly, a lot of these lessons and strategies carry over into business. There's a lot of overlap here. Let's explore the personal finance perspective in more detail with these questions designed to get you thinking a bit more and really starting to dig below the surface.

Discussion and Reflection Questions

When you play the game, do you find yourself buying every property you land on (if it's for sale), or do you play with a specific strategy in mind while trying to balance your expenses/investments and available resources?

Do you think the highest-costing investment opportunities always provide the best return on your money? The most consistent return? Why or why not? Put another way, when thinking about this question when it comes to your own real-life spending habits, do the big name brands always pay off? Are they always worth it? Do you always need all the bells and whistles when you buy a product? Are there alternatives that may still serve your needs while saving you a little (or a lot) of money?

How is purchasing an individual property in the game like taking the same risk as investing in only a single stock in real life? What are some ways you can lower this risk and increase your chances of return?

Think about all the negotiations you conduct during the game - all the times and ways you try to strike a deal with other players when trying to buy or sell properties. Focus on the process of negotiating. How can this valuable skill be used to help you in real, everyday life? There are countless examples we can draw from.

How do the risks of not having enough cash on hand during the game reflect not having enough cash on hand in real life? What are the risks involved? Can you think of any specific situations that may come up?

If you found this post helpful, you may also enjoy browsing our "Personal finance" category for our full catalog of posts, ideas, tips and strategies, resources, reflections, and more simulation games.

PlaySpent.org personal finance game

PlaySpent.org, a game by Urban Ministries of Durham

You start with $1,000.00. You need to choose one from several job options, several different health insurance plans, and several housing options at the beginning of the game. Your goal is to survive the month without running out of money. Throughout the typical month, as in real life, a number of unexpected situations and expenses come up, and you'll be forced to make some very tough decisions. Expect the unexpected.

This is a very eye-opening, thought-provoking simulation. The decisions you'll have to make, and the situations you'll encounter, mirror everyday real life for a lot of people. You'll learn a lot about yourself, including your spending habits, your goals and ambitions, how you reason through decisions, and what you're willing, or not willing, to sacrifice. Along the way, you'll also learn a lot of real-life facts out there when it comes to paying for, and juggling, it all. The game does an awesome job of explaining the consequences, good and/or not-so-good, of all your decisions, all backed by real data. This game is great for any age, but if you're currently in high school, use this game to your advantage. Really study it. Time is on your side right now to figure a lot of this stuff out, before you end up in a real-world mess. If you are indeed still in high school, I highly recommend pairing this simulation with the Time for Payback game, which will help get you thinking about how you're going to manage the debt you'll accumulate during your college years, if you decide you'd like to pursue college.

Discussion and Reflection Questions

After playing the game, be totally honest with yourself when it comes to these questions, because this is how you'll truly learn. What did you learn about yourself? Would you say you tend to make decisions thoughtfully and carefully, or do you tend to make them more on a whim? Do you tend to pursue the easier-sounding path, whatever that is, or are you usually one that likes to (or at least willing to) put in more work and sacrifice up front? When it comes to your purchasing habits, do you usually find yourself needing all the bells and whistles, or do you try to find money-saving options that will still work for you? Do you have any kind of a savings plan/habit in place right now, no matter how small?

No matter your age, is there anything you'd like to change right now about your current journey to increase your chances of success in life, work and career, and wealth? If so, what changes do you need to make, starting right now? Put them in SMART goal format with this easy guide, "What are SMART goals?"

After playing this game, what do you want to learn more about? Scholarship opportunities? Career options? Choosing a college major? More personal finance subjects? Networking? Creating a resume? How can you make this learning possible - what are some resources you can consult, who can you talk to, etc.?

If you found this post helpful, you may also enjoy browsing our "Personal finance" category for our full catalog of posts, ideas, tips and strategies, resources, reflections, and more simulation games.

Time for Payback personal finance game

TimeForPayback.com, a game by Next Gen Personal Finance

Start the game by applying for colleges. You enter your GPA, your level of extracurricular involvement, and your home state. Based on your answers to these, you may get anywhere from 1-4 acceptance letters. What kind of college will you attend, based on your eligibility - in-state public, out-of-state public, private school, or community college? What will you do during the summer before you start college - will you be a couch potato and take it easy, or will you work and earn money? What will you major in? Will you buy new, buy used, or rent your textbooks? Will you get a nothing-fancy laptop, or do you need one with all the bells and whistles? Will you work while going to school? How will you balance school, family, work, and a social life? Along the way throughout the game, other challenges and decision-making moments will come your way. As with real life, expect the unexpected.

Your ultimate goal is to survive to the end of the game, meaning you graduated college, managed to juggle all your priorities, and found employment with a starting salary that adequately covers all the debt you accumulated during your college years through your various choices and decisions. Will you make it?

This is a very fun (or not-so-fun, depending on your perspective) and educational game, and I'm happy to share it with all of you here. At the very least, fun or not (you decide), it's certainly eye-opening. You'll learn a lot - about yourself, your goals and ambitions, how you arrive at decisions, as well as learning a lot of real-life facts out there when it comes to paying for, and juggling, it all. The game does a great job of explaining the consequences, good and/or not-so-good, of all your decisions, all backed by real data. If you're currently in high school, use this game to your advantage. Time is on your side right now to figure a lot of this stuff out, before you end up in a real-world mess.

Discussion and Reflection Questions, more geared to high school students

Try playing this game twice, back-to-back. Be honest with your current GPA and your current level of extracurricular involvement (clubs, activities, and sports). Briefly compare the two games. Did you make it to the finish line in either game? Did you notice yourself making any changes in the second game compared to how you played the first? Be totally honest with yourself when it comes to these questions, because this is how you'll truly learn - What did you learn about yourself during the games? Would you say you tend to make decisions thoughtfully and carefully, or do you tend to make them more on a whim? Do you tend to choose the easier path, whatever that is, or are you usually one that likes to (or at least willing to) put in more work and sacrifice? When it comes to your purchasing habits, do you usually find yourself needing all the bells and whistles, or do you try to find money-saving options that will still work for you?

Is there anything you'd like to change right now about your current high school journey to increase your chances of success in college and career? If so, what changes do you need to make, starting right now? Put them in SMART goal format with this easy guide, "What are SMART goals?"

After playing this game, what do you want to learn more about? Scholarship opportunities? Career options? Choosing a college major? More personal finance subjects? How can you make this learning possible - what are some resources you can consult, who can you talk to, etc.?

If you found this post helpful, you may also enjoy browsing our "Personal finance" category for our full catalog of posts, ideas, tips and strategies, resources, reflections, and more simulation games.

Build Your Stax personal finance game

BuildYourStax.com, a game by Next Gen Personal Finance

You have 20 years. You can either play against other humans in a group, or you can play against the computer. Every six months, you'll receive $4,000 to invest any way you choose. The game calls this "pocket cash." Throughout the game, as time passes, you're eventually opened up to a total of seven different types of investments in which you can put your money to work. They are:

• Savings account
• Certificate of Deposit (CD)
• Index fund
• Individual stocks
• Government bonds
• Crop commodity
• Gold

When each of these investment opportunities becomes available to you, the game provides you with a little background info and education about it, which is very helpful.

As the game goes on, you'll be confronted with unexpected expenses that pop up in real, everyday life, costs like home repairs, family emergencies, and speeding tickets. Sometimes, you might gain money unexpectedly, too, like winning a prize or contest, or finding money on the ground.

At the end of the game, you'll see stats like how much money in total you were given to invest, how much you gained or lost from various life events, how much you earned from your investments, and what your best and worst investment performers were. What's also really neat is that the game simulates a real 20-year period in market history. For example, I recently played this game twice in one sitting (I've played it quite a few times), and I learned at the end that I was playing with real data covering the periods 1991-2011, and then 1986-2006. The game also reveals at the end the names of the real-life individual stocks that the data was generated from. During the game, the individual stocks are given fake names.

A fun and highly-educational game! I really enjoy it, and I highly recommend it to middle school, high school, and even to college students and adults that want to learn or sharpen their skills and understanding of personal finance and investing.

Discussion and Reflection Questions

Try playing this game twice, back-to-back, either against other human players in a group game, or against the computer, your choice. Briefly compare the two games. Did you notice yourself making any changes in the second game compared to how you played the first? Would you say you had an intentional strategy you were testing, or would you say you were making decisions more on a whim? What did the other players/the computer maybe do differently compared to you? Whether you won against the other players/the computer or not, did you at least finish the second game with more money than you did after the first? What could you maybe take away from the other players/the computer - what did you learn from them and how they played?

What do you think are the safest investment opportunities in the game? Why? The riskiest opportunities in the game? Why?

Do you think the safest investment opportunities always provide the best return on your money? Why or why not?

What investment do you personally find most interesting? Why? The least interesting? Why?

What are the major risks involved in purchasing individual stocks? How does buying into an index fund help lower these big risks?

After playing this game, what do you want to learn more about? How can you make this learning possible - what are some resources you can consult, who can you talk to, etc.?

If you found this post helpful, you may also enjoy our previous post, "Difference between stocks and bonds." Feel free to browse our "Personal finance" category for our full catalog of posts, ideas, tips and strategies, resources, reflections, and more simulation games.

Sports card market on fire

The sports card market appears to be coming back strong.

I've been seeing occasional articles and hearing things popping up in the news during the last year or so suggesting that the overall market for sports cards, which had largely been in the dumps for many years, is all of a sudden back on fire. I know I've been seeing a resurgence in card and memorabilia shows here in the Milwaukee area. The pandemic, apparently, has a lot to do with this sudden and exciting revival. Several factors are at play here, from what I've been hearing and reading: Older collectors are rediscovering the hobby, getting back to collecting players that they grew up with. Meanwhile, these older collectors are getting younger ones, today's kids, interested in collecting. And - the pandemic has caused the factories to produce less new cards, so values for cards that are coming out now are instantly surging because their print runs are much shorter.

In this post, I'll discuss some of the main trends and currents happening in the market at the moment, as well as offer some tips on how to be careful with your money. These are all based on both my own recent research and experiences in the marketplace, as well as on informal conversations I've been occasionally having with collectors, dealers, show organizers, and shop owners around the Milwaukee area. Fortunately, what I've been researching and experiencing myself seems to be largely in line with what's been coming up in these discussions with others, and vice-versa, so hopefully we can present a pretty accurate picture here for you of what's going on. I've been warmly embracing this renaissance of the hobby for the last few months, checking out a few shows here and there, along with a shop near my home. These are exciting times for the sports card market, indeed, and I've truly been like a kid in a candy store. It's all bringing back fun memories from my childhood.

What I don't address in this post is the subject of graded cards, which could easily take up a whole separate post of its own. That may be a future project here.

Some 1980s and 1990s card values are suddenly on the rise - I grew up in the 80s and 90s. I mostly collected baseball cards as a kid, and that's still true today. Baseball is my #1 love, but I also got into basketball and football cards to some extent, as well. The problem with all cards produced during this era is that there were far too many made. Even today, in 2022, you can walk into virtually any card shop, and you'll find tons of unopened packs, boxes, and sets of cards from this era, still factory sealed as if they came off the assembly line just yesterday (I wouldn't recommend testing out the 30+ year-old chewing gum, though). These shops can't give this stuff away, there's just so much of it. Don't get me wrong. They're still fun to open and pick through. I just bought a total of 30 packs between 1990 Fleer and 1990 Score baseball a couple weeks ago at a local shop near my home. I spent a total of $15.00, or just $0.50 per pack. I had a lot of fun going through them, and I found a good number of star cards to hold on to - Ryan, Ripken, Griffey Jr., Maddux, Glavine, Yount, Molitor, Bonds, Clemens, Biggio, Sandberg, Gwynn, Ozzie Smith, etc. They're not worth a whole lot, because there are so many copies out there, but they're still worth a few bucks. But something interesting is happening in the 80s/90s realm right now. Although the supply is enormous, there's a resurgence in demand, driven largely by collectors in my age group that grew up with this stuff. Additionally, more and more players from this era have been entering the Hall of Fame in recent years, further driving up overall values and interest.

Beware of the highly-volatile fluctuations in values of today's modern cards - I've heard this from many of the dealers, shop owners, and collectors I've been talking to. Today's kids and their parents, especially, should beware, since it's largely today's kids that are collecting today's newest cards. Makes sense. There's a lot of betting taking place on the values of today's cards, led largely by the efforts of Wall Street investors (literally - a lot of these guys are stock brokers or day traders) who have entered the hobby looking for the next big investment or business opportunity. As a result of their involvement in the hobby, there's a lot of speculation going on with these newer cards. And the average collector - the average kid and family - can easily find themselves stuck in the middle of this Wall Street -style pricing war, and find themselves out a lot of money in the end. These investor types are trying to bank on what they're betting will be tomorrow's new superstars. They're scarfing up as many cards as they can get their hands on, and they're willing to fork out big, big bucks for them. As a result, they're driving up values across the board, taking some of them to insane, unrealistic heights - thousands and thousands of dollars per card. There's no doubt that people are making some serious money on all of this, including the occasionally-lucky working class kid and family that just happens to be holding one or more of these cards. But many who have been in the hobby for years are seeing a bubble ready to pop. The problem is that these cards, whose values have been artificially driven up to tens of thousands of dollars in some cases, can easily sink down to nothing tomorrow with an injury, scandal, or lost championship.

If you're collecting newer cards, then, it's best to apply some old-fashioned investing principles, since you're likely going toe-to-toe with big Wall Street money on the other end of the deal. For starters, buy low and sell high. If a card is already priced unrealistically high and you don't own it yet, it's best to stay away from it at that price. Again, one injury, scandal, or lost championship can bring it down to zero in a blink of the eye. Also, always assume that your collection is worth nothing until you have actual cash in hand. Values on paper don't necessarily mean anything. And that goes for anything you may own - cars, homes, antiques, coins, etc. You need to find a buyer who's willing to pay for your item in order to turn it into cash.

For a much safer bet, true vintage (1970s and prior) continues to be where it's really at - Anything 1970s and older is usually a safe bet. These cards don't have the overproduction problems of the 80s and 90s, and they don't have the stock market -style speculation problems like the new stuff. Because these players are long retired, deceased, already in their sport's hall of fame, etc., their careers and stats are firmly set in stone, for all eternity. There's no fear of these athletes ending up on the injured list today, or losing a championship tomorrow. Everything they did or failed to do is fully known to us. For the ones still living, barring any future scandal or crime they may find themselves in, there's really nothing they can do now that will make their card values fluctuate. And barring any sudden surge in demand for a particular year/player (living or deceased), which would be pretty doubtful, these values are going to be consistently stable. Now, there's both an upside and a downside to these stable values. The upside is that we shouldn't have to worry about these values ever falling much. On the flip side, however, they're most likely not going to ever climb much, either. They're largely stuck for good in a kind of equilibrium. Therefore, those who are devoted to collecting vintage are usually in it for reasons other than pure investment/monetary gain. Perhaps they just want to be able to say they own cards of true, true legends of the game. Maybe they really enjoy the artwork and layout of certain cards and sets - there were some really beautiful, visually-appealing sets that came out in the 1950s, for example, and during the tobacco card era of the 1880s-1910s. Some of these collectors may be strictly into collecting vintage team sets and/or hometown favorites. And still some may have the goal of building complete sets from their own childhood years.

Do you collect sports cards? Is this post pretty accurate at the moment? Why or why not? What advice and resources would you offer our readers here? Feel free to weigh in with your thoughts, observations, tips, and experiences in the comments section below. We'd love to hear from you!

Personal finance vocabulary list

Following, in alphabetical order, is a list of vocabulary words, along with my own definitions and explanations I wrote for them. These are ideal for high school students taking a personal finance class or simply wanting to get a better grasp of, or head start on, various money management concepts. By no means is this list of vocabulary words and their corresponding definitions and explanations meant to be exhaustive. Check back from time to time, as this personal finance vocabulary list for high school students may be expanded upon.

Budget - "A spending plan for your money. You are telling your money where to go and what to do." - Dave Ramsey

Checking - A checking account is an account you have, typically with a bank or credit union, allowing you to write checks to other people or to businesses without having to carry cash on you. The money for these checks comes out of your checking account when these other people or businesses cash your checks. These days, it's more common to see people using debit cards tied to their checking accounts for purchases rather than paper checks (see Debit). You are responsible at all times for keeping money in your checking account to cover your checks or debit card purchases. Not having enough money in your account when checks or card purchases are made against your account can result in heavy overdraft fees.

Credit Card - A plastic card issued to you by a bank, credit union, or credit card company. A credit card is a form of loan that must be paid back by you. When you use a credit card to make a purchase, you are not using your own cash to pay for the purchase. Rather, you are using money loaned to you by the issuer. Typically, if you don't pay your balance by the end of the month (or your assigned due date), you will also have to pay interest, which can be very high.

Debit - When we mention the word "debit," we're often talking about a debit card, but not always. A debit card is like a credit card, in that it is a plastic card with an account number and expiration date. It has your signature on the back. All like a credit card. The big difference, though, is that a debit card is backed by your own cash. It's really your money being used for purchases, not money loaned to you by a credit card issuer that you must pay back (and usually, with interest!) A debit card is usually tied to a checking account, meaning the money used to make debit card purchases comes right out of your checking (see Checking).

Debt - Put simply, debt is any amount of money, from one or from many different sources, that you owe. It could be money that you owe a family member or friend. It could be money you owe on credit cards, student loans, a mortgage, a car loan, etc.

Income - We usually think of income as money we earn from our jobs (wages, salaries, sales commissions, etc.), but income can come from a variety of sources. For example, income can be generated from investments you own, like stocks, bonds, and mutual funds. It can also come from rental income on properties you may own. In this scenario, you own a home, apartment complex, commercial property, or even land, and other people (or businesses) are paying you to live there or run their business.

Investment - An investment, simply put, is you giving your money to an individual, a business, a financial advisor, or a bank in exchange for the potential to get your money back, along with more money just for you giving your original money in the first place! We say potential, because it is possible for you to lose money. Your investments may come in the forms of stocks, bonds, mutual funds, precious metals, or business opportunities, to name a few examples. Check out this previous blog post on the differences between stocks and bonds.

Loan - A loan is money issued to you on credit. The money is not yours. You don't get to keep it. You must pay it back, usually with interest. A few examples of loans include credit cards, student loans, a mortgage, a car loan, and a business loan.

Mortgage - A type of loan you take out from a bank or credit union allowing you to purchase a home or perhaps even a commercial building, if you're in business. Like any other loan (car loan, credit card, student loans, etc.), it must be paid back with interest added.

Salary - A salary is a type of income that you make from your job. Usually, when we discuss the term "salary," we are talking about an income that you are guaranteed to make in a full year. For example, you may get a job someday with a salary of $60,000, as opposed to being offered a wage of, say, $25.00 per hour. A big benefit of being paid in salary is that you know for sure what you'll make in a year. A major potential downside, though, is that you will most likely not receive any additional compensation for overtime, holidays, etc., like hourly wage earners would typically earn. You also will most likely end up putting in many more hours during the typical workweek than your wage-earning co-workers.

Savings - Money that you keep on reserve for an emergency, a "rainy day," or maybe for a particular thing you'd like to buy someday. While many people think of the word "savings" as money that is held in a savings account or Certificate of Deposit (CD) at the bank, it doesn't need to be. In any case, savings is money that is usually easily accessible, meaning it's not tied up in investment or retirement accounts.

What do you think of this attempt to build a solid working start to a list of high school personal finance class vocabulary words? What do you think of the definitions and explanations of money concepts presented here? What would you change, if anything? What words would you add to this list? Please feel free to share your thoughts in the comments section below! We appreciate your insights and contributions!

Dave Ramsey and The Minimalists

As I'm drafting this post, I'm sitting in a high school personal finance class that I'm assisting in. I was last in a personal finance class a couple years ago, during the 2019-20 school year. Though the classroom teachers have been different, the content is largely the same, with many of the lessons and overarching concepts drawing from the work of Dave Ramsey and his team.

Dave Ramsey's teachings about saving, investing, budgeting, and spending wisely are phenomenal. A couple years ago, thanks to he and the personal finance class I was assisting in at the time, I tried a time-tested strategy known simply as the envelope system, or the envelope budgeting system. I'm still sticking to it, and it's working great for me.

I had a brief chat with the classroom teacher this morning about the immense value of a high school personal finance class. I told him that I have a love-hate relationship with the course. I hate it because it reminds me of all the money mistakes and poor choices I've made in the last 20 years. I never had a class like this, and had to learn by trial and error (mostly error) and my own research over the years. On the other hand, though, I absolutely love it. I love it because I'm genuinely excited for the futures of these students who are taking it. I love it because I still occasionally pick up strategies and ideas that can help me, like the envelope system. I firmly believe that personal finance should be a required course in high school, not an elective. My message to these students and to all of you who may be taking a course like this is: Take it seriously. Learn all you can. Take good notes. You have the greatest asset on your side right now - time. You have time. And if you treat your time like the wonderful asset it is, along with developing good money habits early on, then you can, in fact, become a millionaire at a relatively young age.

Anyway, the main point of this blog post is supposed to be that, if you're a high school (or even college) student taking a personal finance course, you should check out The Minimalists - Joshua Fields Millburn and Ryan Nicodemus, respectively.

The Minimalists' philosophy on money very closely mirrors Dave Ramsey's. In fact, Dave Ramsey has provided rave reviews for The Minimalists' books, and has made appearances in their film projects. But The Minimalists are approaching the subject of money from a different angle.

Whereas Dave Ramsey is largely more focused on the practical math and economics of saving, investing, and avoiding needless spending and debt, The Minimalists come at it from the perspective that getting rid of all the clutter in your life - the clothes you never wear; all the stuff in your basement, closets, and/or storage unit you're not using; the long hours you're working and mounds of debt you're taking on in order to keep up appearances and look "successful" to all your friends, neighbors, co-workers, and perhaps even family members ("Keeping up with the Joneses"), etc., etc. - can help you live a more meaningful, purposeful life. By living a simpler lifestyle and only holding onto the possessions that truly add value and/or joy to your life, you are able to devote more of your time, energy, and other resources to things that really do matter - to creative pursuits and hobbies that bring you joy; to the relationships in your life; to giving back to others; to making memories through unforgettable experiences like dream trips and life-changing goals you set for yourself; and so on.

So if you're a high school or college student taking a personal finance course, I highly recommend you look into The Minimalists on your own. Joshua Fields Millburn and Ryan Nicodemus truly are rock stars, in my opinion. Dave Ramsey agrees. Or do I agree with Dave Ramsey? Anyways, their books, blog, podcast, and documentaries on living a more fulfilling life are awesome. Their own individual life stories on where they came from and what ultimately led them down the path of minimalism are inspiring. Their philosophy pairs very well with Dave Ramsey's.

In closing, make use of the greatest asset you have right now - your time. Work your time wisely, and make your time work for you. Listen to us older folks. Don't commit 20 years of painful financial and lifestyle mistakes if you don't need to.

Preparing for unexpected wedding costs

Preparing for the unexpected when budgeting for your wedding

Budgeting for expenses is vital when planning a wedding - especially if you want to keep your overall spending under control. That's why it's essential to allocate some of your funds to unexpected expenses when apportioning your total budget. After all, no matter how thoroughly you budget, you're bound to run into things requiring extra money that fall beyond the scope of your carefully-crafted plans.

So, what types of issues might force you to spend more than you've budgeted for on your dream wedding? The possibilities are virtually endless. Maybe you'll need to pay extra for last-minute alterations to your wedding attire. Perhaps you'll have to redo the invitations after the rain accidentally ruins your first set. Will you be prepared if your chosen venue is no longer available and your only other option costs a little more? As long as you've budgeted some money for the unexpected, it doesn't matter what issue pops up because you'll have the spare funds to correct the problem.

In knowing you should budget for the unexpected, you may be wondering how much money should be set aside for unforeseen expenses. A good rule of thumb is allocating at least ten percent of the entire wedding budget to cover any surprise expenses. If you don't use all the money before the wedding, then no harm, no foul. Put the rest in a savings account for later, or give yourselves some extra spending money for the honeymoon. On the other hand, if you end up needing the money, you'll be glad you allocated some reserve funds in your budget.

Do I need landlord insurance?

Do I Need Landlord Insurance?

Are you currently renting or have plans to rent out a home you own? If so, you should seriously consider purchasing landlord insurance if you haven't already. After all, without this type of coverage, you could leave yourself open to severe financial losses that you may not be able to shoulder on your own. To better understand if landlord insurance is right for you, here's a brief description of property and liability protection - two common types of coverage offered through landlord insurance.

Landlord Property Protection

Landlord property protection helps landlords pay for fixing or replacing any physical property that becomes damaged or lost due to a covered event. Such protections cover the main dwelling itself and other structures on the rented property should a covered event like a fire, windstorm, lightning strike, or theft occur. In addition, landlord insurance may also cover certain maintenance items like lawnmowers and snowblowers, so always check the policy details. Please note that any property protection claims will have a specified monetary cap and will likely require you to pay a deductible when collecting on the policy. Any deductibles and limits, however, will factor into the overall cost of the policy.

Landlord Liability Protection

Landlord liability protection helps landlords pay for another person's medical and legal expenses if an injury occurs on their rental property. Please note that while landlords aren't usually required to pay a deductible when making a liability claim, the coverage will only extend to the policy's stated monetary limit.

Though many landlords are content with the basic protections offered by standard landlord insurance, additional types of coverage may be worth considering per your unique situation. Such additions may include building code protection, protection for a rental property under construction, vandalism protection, and burglary protection. If you are unsure about your rental property's best insurance configuration, don't hesitate to ask an insurance broker for their expert advice.

Working with an insurance broker

Four Key Benefits of Using an Insurance Broker

If you're currently in need of insurance - no matter what type of insurance that may be (car, home, life, business, renter's/landlord, legal, health, dental, or a specialty type of insurance) - then hiring an insurance broker may be your best bet. Not only can an insurance broker help you find your perfect policy, but their experience and industry connections can also offer additional benefits. Here are four key benefits of using an insurance broker.

1. An insurance broker can advise you on more coverage options than a company salesperson.

As insurance brokers aren't limited to a single company's products, they are more likely to find the plan that best matches your personal needs. Before advising you on your options, they can sort through many policies to find the one best suited to both your needs and budget.

2. An insurance broker will have your interests in mind rather than the interests of a single provider.

As insurance brokers aren't beholden to a particular company, they can keep your interests in mind while finding you the plan that most meets your needs. On the other hand, a company salesperson might be more inclined to sell you a policy that doesn't fully meet your needs to meet their sales quota.

3. An insurance broker can save you money.

As insurance brokers have close relationships with many insurance partners, they can compare more policies to find you a suitable plan with reasonable premiums. Brokers also have access to competitive group rates and are very experienced negotiators. Having more options and better bargaining power often means more significant savings for their clients.

4. An insurance broker can help speed up the claims process.

As insurance brokers advocate on behalf of their clients, they can help expedite your case with the appropriate insurance provider if you need to file a claim. Such assistance can help speed up the claims process, granting you faster access to some much-needed funds.

There are many benefits to using an insurance broker. Not only can an insurance broker advise you on a wide range of insurance options, but they can also help save you money and advocate for you in times of need. In addition, with an insurance broker on your side, you'll secure the policy most suited to your needs and budget - without the headache that often accompanies attempting the task on your own.

Buying insurance for your business

The Importance of Insurance for Main Street Businesses

You've finished the grueling process of building a small business from the ground up and are just about to move into your highly-anticipated new location on the main thoroughfare in your town. Just because you've secured an excellent location in the heart of your community, however, doesn't mean your business will be on easy street from here on out. Many unforeseen things can and do happen to the small businesses along Main Street, so to help ensure you are better prepared for anything life may throw at your business, you should seriously consider purchasing suitable insurance.

That said, why is it so important that your Main Street business is adequately insured? The answer is simple - you've worked hard to get your growing business to the point where it's at, so why risk leaving it unprotected against any number of situations that could leave both your business and yourself in serious financial trouble? By securing the right coverage tailored specifically to your business's unique needs, you can rest assured knowing you are prepared for many possibilities. With the protections granted by the right insurance policy, you can weather many kinds of storms and minimize any disruptions that may occur should a covered event negatively affect your business.

If you found this article helpful, you may also find our article presenting four key benefits to working with an insurance broker to be valuable.

Tips for selling your home

Photo from Pexels

What You Need to Know Before Listing Your Home

Are you faced with putting your home on the market? Consider tackling some minor improvement projects that will help you maximize the sale price of your home but not break the bank. Rearranging furniture or taking the time to declutter your kitchen countertops can go a long way in allowing someone else to envision themselves in your space. Here are a few things to consider when preparing your home for a sale, presented by Mr. Robertson’s Corner.

The Price is Right

When putting your home on the market, it’s important to consider a competitive pricing strategy. What are the average listing prices nearest your neighborhood ($380K is the average here in Muskego, Wisconsin over the past 30 days)? What is the average number of days a home is on the market? “Nothing turns a good buyer off faster than an overpriced listing,” advises HGTV. “Pricing your home right is one of the most important advantages of having a Realtor.”

Curb Appeal

How welcoming is your home? First impressions will make a big difference when potential buyers come to tour your home. If your front door is dingy, you might consider a quick paint refresh to make it more inviting, and you might even add a wreath. Installing new house numbers can add a quick curb appeal and also allow potential buyers to find your house more easily. Try matching your house numbers with the finish on your exterior lights, offers DIY Network. Strategically placed potted plants, or container gardens, can give your front yard some zest, in lieu of higher-priced trees and shrubs. Matching containers to your home’s style will serve to carry the theme of your home through to the street.

Finally, take a good look at the trees in your yard and determine if there are any that detract from your curb appeal. If you spot any that you think your yard could live without, call in a local tree service to handle the removal - this is definitely one job you shouldn’t DIY.

Kitchen and Bath Refresh

Full-on kitchen and bath remodels can break the bank. But, if your kitchen and bathrooms are outdated and in disarray, they will most likely turn buyers off. Look for inexpensive ways to transform those spaces with a little imagination and elbow grease. Cleaning clutter from countertops and removing art projects and school photos from the refrigerator is free. Put anything away that isn’t necessary or complementary to your space. Replacing outdated handles and pulls with something sleeker and more modern will instantly update your rooms.

If your cabinets are dingy and old, then a good old-fashioned scrub with soap and water won’t help. Instead, consider painting your cabinets or removing doors. Something as simple as placing a colorful rug in front of your sink, according to Good Housekeeping, can hide ugly flooring.

Declutter and Depersonalize

One major reason to declutter and depersonalize your home is to give buyers an opportunity to see themselves in your space. There are 11 key spots to focus on, according to Apartment Therapy, and you’ve tackled the kitchen and baths, so the rest is relatively easy. Organize the entry point into your house by carrying on the theme from the front porch and yard right into your foyer. Clean where needed, place a coordinating container plant inside and make sure the rug is clean and welcoming. Clear halls of clutter and too many family photos. You want new buyers to picture themselves in your home. Touch-up play areas by hiding (or donating) unused and unnecessary toys. Don’t forget to tidy up closets, as potential homebuyers will be checking to see if there’s enough room for their belongings.

The process of selling your home can make for stressful times. But by spending a little time and energy to address some smaller DIY projects and tidy up, you can maximize the potential asking price for not a lot of initial monetary investment.

End-of-season clothing sales

Save money on clothes by shopping at end-of-season sales

If you don't mind not having the very latest fashions, you can save plenty of money by shopping at end-of-season sales. Moreover, if you can wait for an item to reach the most discounted rack in the store, then you can expect to save up to 80 percent on your purchase.

To give you a better idea about when to shop for your different wardrobes, here is a general timeline for end-of-season clothing sales:

Spring clothes: April through June
Summer clothes: July through September
Fall clothes: October through December
Winter clothes: January through March

It should also be noted that certain specialized items tend to go on sale around the same time each year. These items include formal party wear in January, bridal gowns in April, athletic clothes in May, and bathing suits in August.

Also, keep in mind that while the larger discounts do tend to occur near the end of a sales cycle, the longer you wait, the less of a selection you'll likely find. If you wait too long before buying an item, it may sell out at your local retailer. If there's a particular piece of clothing that you have your heart set on owning, consider purchasing it at a mid-range discount to lower your odds of it selling out in your preferred size, color, or style.