June 11, 2010, Newsletter Issue #58: Factoring Insurance Into Your Budget

Tip of the Week

Your monthly insurance premium is one more bill that you have to pay, but it is definitely a necessary one. Make sure that you keep this in mind when you compare home insurance rates. Add up each bill that you have to pay every month, such as:

Utilities Phone Mortgage Student loansThen add any other expenses that you may have.

Food Transportation Clothing PrescriptionsSubtract that from your monthly income and see what is left. This will give you a better idea of what you can afford to pay each month.

Once you have your finances in order, you will be better equipped to compare homeowners insurance rates and find one that will save you the most money and be affordable. It is also a good idea to try and keep at least the amount of your deductible in a savings account at all times in case you need it after a claim.

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