I did it. I bought flood insurance.
None of my neighbors remember our neighborhood ever flooding but that doesn’t mean its not possible. What happened in Iowa recently should be a wake-up call to all Americans. Just because no one remembers your neighborhood flooding doesn’t mean it can’t.
My insurance is costing me less than $300 a year for house and contents coverage. I hope I never need it but flood insurance is one of those things that its better to have and not need than need and not have.
This video talks about who should have flood insurance and some of the things you need to know about National Flood Insurance:
Somthing else you might want to check out is this article on problems with misleading flood terminology and the official National Flood Insurance Program website/
I don’t believe in making loans to friends and family.
If someone genuinely needs money and I have some to give, I will but only as a gift. I make it explicitly clear:
It is NOT a loan. It is a gift and I do not expect it to be repaid.
I don’t want to hear them make any noises or promises about repayment. If the time comes when they feel they can return the gift, great, but I have no expectations of it. I have burned people who have loaned me money and I have myself been burned. I decided long ago that it would not happen again. When friends and family don’t repay money that has been labeled a “loan”, hard feelings always develop. Since I have no expectation of being repaid, I have never had a reason to feel bitter.
Some may consider this policy crazy but honestly, my friends and family know my policy and I don’t feel like any of them have abused it. If I ever did have any qualms, I would simply say I don’t have the money to give and leave it at that. I have seen friends and family torn apart by personal loans and I value my own friends and family too much to allow money to come between us.
That being said, I know many would never feel comfortable with that arrangement or for whatever feel compelled to borrow from or lend to friends and/or family. If you really must, then I highly recommend you formalize the loan. If they are sincere about paying you back, they should have no objections.
This video from Money Talks News covers more on the concept of formalizing personal loans:
You might also want to check out a site like LoanBack which can help facilitate the formalization of a personal loan.
It’d be nice if we could say that all our troops deployed around the world and here at home have everything they need but that’s not always the case.
Even if they were equiped with everything they need, there are still plenty of things they could have to make their lives just a bit more comfortable. Members of the Armed Forces count on the rest of us to help fill the gaps. The really great thing is there are lots of organizations that can help you do just that and get a tax deduction.
You first stop should be AMERICA SUPPORTS YOU. This site was established by the military to act as a clearinghouse for organizations whose goal is to aid members of the military in one way or another including but not limited to:
* Computer Donation
* Donation of Frequent Flyer Miles
* Entertainment for the Troops
* Gift Certificates
* Help for the Wounded
* Helping Troops Help Others
* Homes for Disabled Troops
* Letters and Messages
* Military Family Support
* Phone Cards
* Scholarships
* Send Care Packages
* Training and Placement for Veterans
* Tragedy Assistance
* Video Conferencing
* Veteran Service Organizations
Use the site to identify groups that help soldiers and/or their families in a way you feel comfortable with. Remember, if you’re a business owner, your business can also make tax deductible contributions.
Next, take the list of organizations you’re considering and check each one out at The American Institute of Philanthropy and/or Charity Navigator just to make sure the charities are what they say they are.
Once you’ve narrowed down your list, read the BBB Wise Giving Alliance’s Tips on Tax Deductions for Charitable Contributions so you’ll clearly understand what the tax implications are for contributions to the different types of charities. Not all charitiy types are the same and you need to know the difference before you start making contributions.
When you do make contributions, make sure you keep detailed documentation should the IRS have any questions.
Regardless of how you feel about the war or U.S. foreign policy, our soldiers are just regular men and women serving their country by doing the jobs they are assigned, wherever they are assigned, and for very little pay. The conditions they serve in can range from very uncomfortable to outright life-threatening. Their service can also result in life-long difficulties for themselves and their families. Your contributions, even small ones, can make a big difference.
Please consider giving to help our troops and to save yourself some money at tax time.
