by Hope
That is half 3 in my July collection: How I spent the home proceeds. You will discover Half 1 right here and Half 2 right here.Â
I paid the 6 month premium on my (and Princess’) auto insurance coverage and the following quarterly fee of my life insurance coverage coverage.
Auto insurance coverage for two automobiles, 2 drivers, full protection: $1,730
Degree Time period life insurance coverage coverage (quarterly): $159
Whole spent: $1,889
Doesn’t Price Extra
First, I do know that paying off my auto insurance coverage coverage in a single lump sum doesn’t actually make monetary sense. It doesn’t value me any additional to make month-to-month funds nor does it identical me any cash to pay it in a single lump sum.
However the psychological load off was undoubtedly price it to me. And now I can simply save month-to-month to do it once more in September. Which is when Princess will take over her personal auto insurance coverage coverage. (Sure, I give every of my youngsters “assist” for six months after their education ends. They’ve all gotten this identical 6 months.)
Life Insurance coverage Debacle
My life insurance coverage has been a query for a few years now. And whereas I’ve made a few cellphone calls over time. I’ve by no means really accomplished something about it. I had a 20 12 months coverage that I took at once I was pregnant with Princess. I had an opportunity to transform it, however the associated fee and protection simply didn’t make sense.
So I’ve simply been letting it experience for the reason that authentic time period expired final December. The price was $24 monthly. And is now greater than double that with the protection declining steadily.
After I arrived in Texas, I began calling and reviewing choices. A time period life coverage for $75K would run me $175+ month-to-month. Yikes! So I’ve determined to maneuver ahead with one other 20 12 months coverage. My software is in overview now. And I accomplished the medical examination a few weeks in the past.
If all goes properly, it can run me $55 monthly and supply $100K protection. ($100K was the bottom protection they might do, not the quantity I used to be in search of.)
We are going to see what occurs…
After 3 elements of how I spent the home proceeds, I’ve now detailed how I spent $7,428. Extra to come back…
Hope is a resourceful and solutions-driven enterprise supervisor who has spent almost twenty years serving to purchasers streamline their operations and develop their companies by undertaking administration, digital advertising, and tech experience. Just lately transitioning from her position as a single mother of 5 foster/adoptive kids to an empty nester, Hope is navigating the emotional and sensible challenges of redefining her life whereas sustaining her dedication to regain monetary management and get rid of debt.
Dwelling in a comfy small city in northeast Georgia along with her three canine, Hope cherishes the serenity of the mountains over the bustle of the seashore. Although her youngsters are actually discovering their footing on this planet—pursuing training, careers, and independence—she stays deeply dedicated to supporting them on this subsequent chapter, at the same time as she faces the bittersweet tug of letting go.
Since becoming a member of the Running a blog Away Debt group in 2015, Hope has candidly shared her journey of monetary ups and downs. Now, with a renewed focus and a transparent path forward, she’s able to sort out her funds with the identical ardour and perseverance that she’s dropped at her life and profession. By way of her writing, she continues to encourage others to confront their very own monetary challenges and attempt for a brighter future.
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