business · money · Money Monday

Money Monday #6 – Be Safe and Get Insurance for Home, Work and Play

The iPod family with, from the left to the rig...
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Welcome to another edition of #MM # Money Monday, your weekly guide to better money management and more.

Previous #MoneyMondays: #0#1 | #2 | #3 | #4 | #5 | #6

The Money Tweet “#MT”: “#mm #MoneyMonday ” Be on the safe side and get insurance, It will save money in the long run and just the best way to go #money #work #play”

Today’s post is about, being safe and get insurance.  It’s always the best route to go being insured, whether its is for home, work or play.  Although paying for insurance may cost money and we sometimes may whine about how costly it may be at times, but when it really matters it sure comes in handy.

Home: At home being insured is important whether it is health insurance or property insurance its smart to get it.  You don’t want to have an incident happen such as a slip or fall and end up in the hospital with quite a tab to pay for a simple mistake.  Even just a mere check up can cost an arm or a leg to some.  Another incident or accident such as a natural disaster or malfunction of wiring can cost you your home or equipment.  Be safe, smart and invest in some insurance.  Research for some options today.

Work: At work we have also options for insurance.  Best you get familiar with your work place offerings, whether part-time or full-time, if none is available, be sure you have your own as backup or work on getting into a job that can provide some proper insurance.  Insure you car, your equipment and etc if you use these are business or money-making tools, for if they break, you don’t want to have to come out-of-pocket at some crazy amount to replace or fix something that could of being cover under warranty.  My rule is usually if it cost over $100, get it insured or add warranty.

Play: For all my tech fans and gadget fans, I offer the same advise, that Ipod, IPhone, Blackberry, Xbox 360, ps3, d-slr camcorder or camera, do yourself the justice and throw on some insurance at least 1-3 years.  You never know what might happen, that $30-$70 bucks can definitely save you from another $350 or more.

When I say get insurance, remember everyone needs are quite different, so find ones that suit you best and not a burden to your pocket.  For high-priced equipment, motor vehicles and health insurance the price might be quite high, but think about the peace of mind it might save you knowing you are backed up.  Do your research. And for all who don’t have insurance or simply can’t afford it, please be safe, very cautious and be smart.

Thanks for tuning in to Money Monday
“Remember to always get your money right.”
Richardo

PS: Subscribe today to get Money Monday posts straight to your email inbox with ease. It’s so easy to subscribe.  Also you can follow us on twitter and see each post every Monday -> @rawmultimedia.

business · money · Money Monday

Money Monday #5 – Know Your Assets and Liabilities

Various Federal Reserve Notes, c.1995. Only th...
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Welcome to another edition of #MM # Money Monday, your weekly guide to better money management and more.

The Money Tweet: “#mm #MoneyMonday ”Know Your Assets & Liabilities” it’s a key essential in the progress of reducing debt & cost while gaining profits & value ”

Today’s post is about, knowing your Assets and Liabilities.  I lot of people don’t consider tracking their money, and pay attention to thing that may cost them money over time.  When you think of money, you should also think of value and investments, costs.  Those are key factors within accounting business and that shows how well a business is doing and managing itself.

For example, a car may be looked at as an asset based on it purpose for it holds value and is considered a property. If you use your car for productivity such as ease of travel, business motives that involves making more money, then a car is a great asset and a worthy investment.  But once a car is constantly breaking down or you a bad driver and the car constantly is getting damaged and the cost super exceeds the actual value of the car, then its costly liabilities and will eventually land you in the poor house.

Another example, your savings or checking account with funds within is considered an asset because it is cash or a money value, but it can be set as an issue if you have little funds within or overdraw your account and you are paying fees back to the bank for overdrawn amounts.

So please look through your expenses, properties, investments, savings and much more, I would recommend monthly or at least quarterly to define and asset what is an asset and what is a liability and if they have changed over time.  To know if you are not in debt or you are seeing profits over time, the equation is simple.  Liabilities – Assets = Profit/Loss.  If it a positive number of course its a profit, but if it is a negative number that is a loss.

Thanks for tuning in to Money Monday
“Remember to always get your money right.”
Richardo

PS: Subscribe today to get Money Monday posts straight to your email inbox with ease. It’s so easy to subscribe.  Also you can follow us on twitter and see each post every Monday -> @rawmultimedia.