‘Tis the season of #2 pencils and three-ring binders, kid-sized mittens and pumpkin spice lattes.
As you get back in the swing of the daily grind, we’ve got some money to-dos to keep your financial life chugging along smoothly.
Learning isn’t just for grade schoolers. Let yourself be inspired by the back-to-school season, too. Find a night while the kids are doing homework, and join in with a little homework, yourself.
Pick a few financial concepts that you wish you knew more about, and read up. Maybe it’s time to investigate retirement investing a little more thoroughly. Or maybe it’s time to finally understand how life insurance works. (When you’re ready, Fabric lets you apply for term life insurance online in around 10 minutes.)
OK, it’s early yet. But studies have shown that more than half of Americans actually dread the holiday season because of the spending. Americans have been known to take on more than $1,000 in holiday debt, and some people take more than a year to pay off their holiday debts.
So get ahead of it all by coming up with a budget now. List the people you want to buy gifts for, and give yourself a max amount that you’re willing to spend on each. Total it up, compare it to your savings, and if you don’t already have enough cash to cover the expense, then figure out how much you need. Divide that by the number of weeks you have till gift time, and make it your weekly savings goal.
If you're already struggling with debt, consider consolidating your credit cards now and getting organized before the holiday craziness hits.
Not only does giving time and money to charity teach your kids about generosity and the value of a dollar—it also comes with all those warm-and-fuzzies.
Maybe you’re helping your kids decide where to donate a portion of their allowance; take the chance to remember that money isn’t just about saving. It’s also about doing good.
Close to half of identity theft (43 percent) occurs around the holiday season, which is a peak time for fraud. In addition to being vigilant and not clicking on suspicious-looking emails, it’s a good reminder that we should be checking our credit regularly.
You can use a company like Credit Karma to look up your credit score, which is a numerical reflection of how your credit is doing. And you can go to Annualcreditreport.com for your free once-a-year credit report, if you haven’t already gotten it. Law dictates that you should be able to get your credit report from each of the three major agencies once a year for free, so beware of lookalike sites that seem to offer these free services but secretly end up charging you.
If your credit score suddenly plummets without explanation, or if you see suspicious activity on your accounts, investigate it further and remember that you can report fraud to the credit bureaus so it shouldn’t permanently hurt your credit rating.
While you’re celebrating your kids for leaping into a new grade, take a beat to think about the future. Consider your big-picture goals, like college savings for your kids. Are you on track? Play around with a college savings calculator to see how you stack up.
As the days get shorter, here’s to making the time for a few quick tasks to help your family now, and in the future.
Ready to see what's on the horizon? Check out our winter financial to-do list.
Fabric exists to help young families master their money. Our articles abide by strict editorial standards.
This material is designed to provide general information on the subjects covered. It is not, however, intended to provide specific financial advice or to serve as the basis for any decisions. Fabric Insurance Agency, LLC offers a mobile experience for people on-the-go who want a easy and fast way to purchase life insurance.
The pandemic and economic challenges mean some families have exhausted their emergency cash. Here’s how to prepare for (and deal with) the worst.
No time + needing to look after the ones you love = a quarterly checklist to help keep you on track, so you can get back to wiping boogers and giving snuggles.
Summer’s about taking it easy - but also using your breathing room to feel on top of your game. Here are 5 to-dos to keep you on your game.
Convertible life insurance offers the option to convert from term life to permanent. Here’s who can benefit and who may not need the coverage or cost.
Life insurance companies assess weight as one part of your health profile. Learn how underwriters look at weight and fitness to determine ratings.
Accidental Death Insurance policies (Form VL-ADH1 with state variations where applicable) and Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT (all states except NY), and by The Penn Insurance and Annuity Company of New York (NY only). Coverage may not be available in all states. Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.
All sample pricing is based on a 25-year old F in Excellent health for the coverage amount shown. All samples are for a 10-year term policy, unless otherwise stated. Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT. Coverage may not be available in all states. Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.
A.M. Best uses letter grades ranging from A++, the highest, to F, companies in liquidation. Vantis Life’s A+ (Superior) rating, which was reaffirmed in April 2020, ranks the second highest out of 16 rankings. An insurer’s financial strength rating represents an opinion by the issuing agency regarding the ability of an insurance company to meet its financial obligations to its policyholders and contract holders and not a statement of fact or recommendation to purchase, sell or hold any security, policy or contract. These ratings do not imply approval of our products and do not reflect any indication of their performance. For more information about a particular rating or rating agency, please visit the website of the relevant agency.
Plan like a parent. is a trademark of Fabric Technologies, Inc.