Payday! The 5 Best New Checking Account Promotions

You learned about how to balance them in economics class in high school.

You got a 'free' one when you went to college or entered the work force.

And unless you think you can go throughout life using only cash, you're going to need one: the incredibly mundane checking account.

Raise your hand if you get excited about checking accounts.

No one? Come on, surely there is a banker in the crowd somewhere!

Checking accounts are dull. They are an every day part of life. They don't pay hardly interest (or none at all). You have to order checks from your bank and reset your PIN number on your debit card every so often. Direct deposit gets set up from your employer, and money magically appears in your account.

Checking accounts lack the excitement, sophistication, and appeal of more rewarding accounts like an investment trading account. ('Open an account and make $10,000 on your first trade, guaranteed!')

But not everyone needs, wants, or uses an investment trading account. Almost everyone will use a checking account in their lifetime.

So why let yours be ' 'blah'? Why not get an account that is not only worth having, but will reward you for signing up? Why not take advantage of some of the best new checking account promotions?

Best New Checking Account Promotional Offers

Looking to switch accounts and get rewarded in the process? These banks want you to open an account with them and are willing to roll out the red carpet to earn your business. These offers are all national checking account offers. Be sure to check your local community bank and credit union offers as well so that you don't miss out on a promotion right in your home town.

Best National Checking Account Promotions

There are two types of promotions:

• Sign up cash bonus
• Incentive interest rate

You could also argue that cash back or an industry leading interest rate would be a promotion, but those benefits are part of the account that continue on after any promotional period. A promotional bonus means you're getting something extra above what you would normally receive for having the account.

ING Direct Electric Orange Checking $50 Bonus

ING Direct has long been one of my favorite banks.

Industry leading interest rates, great customer service, and the ability to open multiple sub-accounts to manage your saving are just a few reasons I've been an ING customer for years.

But now I'm kind of jealous because you can get $50 just for opening up a checking account with ING Direct. (That's the best promotional bonus available from what I've found.)

Don't let the thought of not being able to go to a brick-and-mortar physical branch deter you from using an online bank like ING Direct. The company allows you to deposit checks by simply snapping a photo with your mobile phone or by scanning the check with your computer. You can transfer funds in and out of the account to other banks if you want to.

ING's Electric Orange checking comes with:

• a great interest rate
• a debit card with nationwide ATM access
• the ability to order paper checks if needed
• free online bill pay
• free postage ' ING will print and mail checks for you for free
• free P2P payments to friends and family

EverBank Interest Checking

EverBank is another online bank with a bit of a twist on the promotional bonus for your account. Instead of giving you a cash bonus they give you a bonus promotional interest rate on your checking deposits.

If you open an EverBank Interest Checking account today you will receive a 6 month promotional interest rate of 1.25%. That is significantly higher (by about 50%) than what other online banks are offering for interest checking accounts.

However, this is a promotional rate. After the 6 month period you rate drops to a lower rate that varies based on how much money you have deposited with the bank. EverBank is a solid online bank with a good reputation. The interest checking account has no hidden account fees or debit fees. The only fee you would pay is $8.95 for Bill Pay if your account balance is less than $5,000 and a $25 overdraft charge. Avoid overdrafting and keep your account balance above $5,000 and you won't pay a single fee to have this account.

Citibank's Citibank Account and Citigold Account

I'm including Citibank's checking accounts here because they do technically offer a bonus. However, compared to the two accounts listed above, Citi's accounts don't seem worth it. If you're on the hunt for some extra bonus dollars you can get them here, but ING's bonus payment is better. Much, much better. And EverBank and ING Direct both pay better interest than Citi on their checking accounts.

The difference between Citibank Account and Citigold Account is of how large of a bonus you get and what requirements you must meet to get the bonus.

Let's compare with Citibank Account coming first and Citigold second:

• Sign Up Bonus: $50 vs. $100
• Minimum Requirements to Avoid Monthly Fee: $15,000 in combined deposits vs $50,000 in combined deposits including retirement accounts (or $100,000 in loans, deposits, and investment accounts not including a 1st mortgage)
• Monthly Fee (if you don't need requirements): $20 vs. $30
• Minimum Amount to Open Account to Receive Bonus: $1,000 for both
• Additional Requirements: Must 1 direct deposit and 1 qualifying bill payment for 2 consecutive months

So you're telling me I need to deposit either $15,000 or $50,000 plus complete 2 direct deposit and 2 bill payments to receive either a $50 or $100 bonus?

That makes that $50 bonus from ING Direct just for opening an Electric Orange account look really nice. (Not to mention ING also has no minimum balance requirement, no monthly fee, and no additional requirements.)

Other Checking Accounts to Consider

These banks don't offer promotional bonuses at this time, but are both great institutions worth taking a look at.

Ally Bank Checking Account

Ally is a leader in online banking. We've written about how awesome Ally is in the past. (We ranked them as one of the best online checking accounts earlier this year.)
With Ally you get:

• Industry-leading interest rate
• Free online bill pay
• Free unlimited check writing
• Unlimited free checks
• Free ATMs (you are reimbursed for fees)
• No monthly maintenance fee

Perkstreet Financial Cash Back Checking

Instead of earning interest on your deposits within your checking account, Perkstreet offers you cash back on your spending. This type of account is best for people that don't have sky high balances that would earn significant interest; instead you get your rewards through your normal spending.

The cash back you can is significant. Check out Perkstreet's chart of cash back returns to you:

Cash back is limited to between $2,500 to $5,000 worth of spending depending on the reward category. Still, that means you can rack up several hundred dollars worth of cash back on your normal spending without having to use a rewards credit card.

As you can see, there are several new checking account promotions to literally cash in on. Reassess how much your bank is paying you on your checking accounts and see if you can get a raise today.

Tagged as: Ally Bank, cash bonus, Checking promotion, Citibank, Electric Orange Checking, EverBank, ING Direct, Online checking, Perkstreet

What Is a Family Trust and Should You Set One Up?

The concept of a family trust'also known as a revocable living trust'isn't very well understood by many people.

The differences between a trust and a simple will, for instance, are frequently confused.

While it's somewhat more time consuming'and therefore, more expensive'to have a family trust prepared than a will, there are significant benefits of the trust for many individuals.

I have many clients that feel that they 'have to setup a trust'.

I think many want to avoid probate at all costs.

Please keep in mind that probate is NOT a four letter word.

I don't want to discourage you from setting up a family trust, but it's not a requirement in every situation.

How a Family Trust Functions

A family trust is a legally binding document that covers an individual's assets during one's lifetime and specifies the terms of dispersing those assets after one's death or incapacity.  The person establishing the trust'generally referred to as the grantor'transfers all of his/her assets so that the trust itself is the owner, not the individual.

In practical terms, the distinction is a technical one; the grantor will still have full control over and use of all his his/her assets.

A trustee'the person(s) who will carry out the terms'is appointed at the time that the trust is formed, but has no role until the grantor is deceased or incapacitated.  The trustee can be a family member, close family friend or even a financial institution (think bank for brokerage firm).

I've had clients select all the above to be their primary trustee or successor trustee.  Keep in mind that choosing a financial institution as a trustee will be the most costly.  The cost can be justified as these institutions specialize in these matters where a family friend may be burdened with all the responsibilities that trust brings on.

The terms of the trust'and the exact assets included'can be changed at any time.  For example, if a new car is purchased, it can be added to the trust.  This is true with all significant purchases and sales of tangible property (homes, vehicles, etc.) and intangible assets (securities and other financial investments).  Similarly, the identities of the trustee(s) and beneficiaries can be changed by the grantor at any time.

What also can be changed is how the assets are dispersed.   For example, you could setup the family trust to disperse the assets at various ages of your surviving child.  The could get 1/3 of the income at age 45.  The other 1/3 at 55.  And the final disbursement at age 65.    This is just one example of the thousands of possibilities of how a family trust can be setup.

Benefits of a Family Trust

Among the numerous advantages of a family trust are:

• Avoidance of the probate process.  If the grantor dies, the estate can avoid probate court, a substantial benefit over a simple will, where probate is commonplace for any assets not specifically enumerated.
• Avoidance of legal challenges of asset dispersal.  A family trust is essentially air tight legally, another potential advantage over a simple will.
• Limitation of exposure to estate taxes, as part of a proper estate planning process.
• Simplicity and Flexibility.  A family trust is a relatively easy document to prepare and account for, particularly with the help of an estate planning attorney.  Transferring asset ownership to the trust is an easy task.  The ability to amend and adjust the terms at any time makes it a very versatile vehicle.
• Control.  The terms of the trust dictate exactly what will be done with your assets in the event you are incapacitated or deceased.  The trustee must carry out your instructions to the letter, or face civil suits and possibly criminal prosecution.

The Bottom Line ' What a Family Trust Does

A family trust is a relatively simple and inexpensive, but potentially powerful legal vehicle, with many benefits for a wide swath of individuals.  The family trust essentially makes certain that your assets will be allocated as you wish, should something happen to you and makes certain that the beneficiaries that you designate will have access to their inheritance'in the manner you intend'quickly and fully.  The peace of mind in that fact alone may be enough to recommend the process.

Tagged as: family trust, setting up trust

How to Make Sense of Your Credit Card Numbers

When you look at your credit card, chances are that you notice the numbers on the front.

The numbers on the front of the card provide an interesting amount of information ' beyond just an account number attached to your finances.

When you use your credit, the numbers tell a story.

And you can know that story if you understand what the numbers on the front of your credit card mean.

Transparency with cards is important, and you can get a better idea of what to expect when you know what your credit card numbers mean.

Type of Card

When you look at the credit card numbers, you will probably notice that some of your cards start with the same number. This is because the type of credit card you have is identified by the first number, which is always a 3, 4, 5, or 6 for major cards. There are other types of cards, though, depending on what you are trying to accomplish. Here are the corresponding card types:

If you are filling out an online form, and you tell the form that you are swiping a Visa card, but the number starts with a 6, your form of payment will be rejected, because your card number is for a Discover card, not a Visa.

Your Account Number

Interestingly, your account number isn't all of the remaining digits. There are bank identifier numbers following the first number on your card, these are the numbers that indicate the bank, as well as the type of card you have.

With American Express cards, for example, the 3rd and 4th digits indicate whether you are dealing with a business card or a personal card, as well as the currency of the card.

Once you get past the bank identifier, then the account number starts. With Visa, MasterCard, and Discover, the credit card numbers are 16 digits long, and the 7th digit to the 15th digit is the account number. This leaves nine digits for your account number ' providing billions of possible combinations. With American Express, there are only 15 digits to the account number.

In this case, the account number starts with the 5th digit and runs to the 11th digit. There are more digits, 12 ' 14, that share the card number associated with the given account number. So, if you have multiple credit cards on your AmEx account, the 12th, 13th, and 14th digits would be different.

Check Digit

Credit card numbers also have what is known as a 'check' digit. This is the final digit of the card number. This digit is used in order to help decide if the overall card number is legitimate. There is a special algorithm used to help determine whether the card number is real or fake, and that final digit is an essential part of determining that information.

When you enter a credit card number wrong, the algorithm used will indicate that you have done something wrong quite quickly, and you will be asked to re-enter your information.

Sources: How Suff Works, MintLife Blog

4 High Rate of Return Investments to Add to Your Portfolio Today

Before you focus on high return investments, or investing of any kind, you should make sure you are not paying high interest on debts.

If you're paying more in interest on debt you owe than you can earn through investments, you're going to immediately lower your return on investment.

In other words ' the interest you save by reducing debt is higher than what you are likely to earn through investing.

For example, if you're paying 18% interest on credit card balances and will only receive 9% return on your best investment ' it's costing you 9%.

The first step to any investment plan should be to pay off all high interest debts.

If you are debt-free, or have only low-interest debt, you have some options for easy to manage high return investments, including high interest savings accounts, peer to peer lending services, starting a business, and low cost index funds.

Whichever methods you choose, you're best results will come from setting up automatic deposits for both saving and investing, according to a schedule you can comfortably afford.

1. High Yield Savings Accounts or Certificate of Deposits

It's a good idea to have about three to six months of living expenses saved in an emergency fund. You never know what's going to happen, and if you find yourself with reduced income or without a job ' this fund can save you from getting into debt or excessive struggling. (Make sure you track all of your spending with a budgeting tool like Mint.)

Online bank accounts generally offer higher interest rates than your local bank, and you also have the option of saving the money in a Certificate of Deposit although it's not as easy to take it out when you need it.

Yes, I know that this isn't very 'high' at the moment, but it does pay to shop around. I've seen cases where people have been able to get close to 2% with certain bank promotions while others leave it in accounts paying .15%. If you don't have a large sum, then it's not worth it to switch. But if you have a couple hundred thousand, keep your eyes out.

2. Lending Club Investing

Once you have money set aside for emergencies, you can look at peer to peer lending services, like Lending Club. Lending Club advertising a 9.64% average return on investments for people who lend money to other people through their site. Investing in peer-to-peer lending couldn't be easier: you can hand select your loans or just invest into a portfolio of loans.

3. Start a Business

For a successful business owner, a business offers a high return on investment opportunity. If you have skills that allow you to start a business selling products or offering services, you may find becoming a business owner offers the highest return on your investment of any other type of investing you could participate in.

Technology has made it possible for many business owners to start their business for very little financial investment. Chris Guillebaeau's best seller $100 Startup shares countless examples where unsuspecting entrepreneurs were able to make solid income without much capital up front.

Not sure what business to start? Here's a look at the top 13 small business ideas.

4. Invest in Low Cost Index Funds

Many people like to invest in long-term options, to avoid trying to figure out when to buy and sell short term equities.

If you prefer buy and hold investing over the ups and downs of the stock market trading, you might consider a service like Betterment.com which lets people invest in index ETFs for little cost.

The annual management fee of this site is between .3% and .9% of your average balance up to $25,000. You can get started with no minimum balance, no holding periods, no transaction fees and no other expenses.

Another option for the buy and hold investment philosophy is to use a program liked ShareBuilder that allows you to slowly grow your portfolio with consistent investments.

photo credit: scottwills

Tagged as: Ally Bank, Betterment, certificate of deposits, Discover Bank, EverBank, high return investments, high return investments for debt free individual, high yield savings accounts, ING Direct, Lending Club, lending club investing, low cost index funds, mint, Sharebuilder, start a business

The Top 3 Easy Ways to Avoid Overspending

Many people have a tendency to get sucked into paying late fees or other types of expenses that are unnecessary in daily life.

When I was younger and much more irresponsible (with a capital 'I'), I bounced checks, had overdraft fees, paid late charges on credit cards and movie rentals.

I was a mess!

I'm sure if I went back and tallied all the stupid charges I paid, I would probably be sick.

These small expenses can easily add up over the year.

Just think, paying ten dollars a month for a credit card 'fraud' safety program can easily add up to over $100 in a given year. (Yeah, got duped into that one too!)

If you are trying to stick to a budget, then here are some of the ways that you can avoid getting caught up in these expenses and put more money in your pocket.

1. Know What You're Paying For

When people take out credit cards, they often have no idea that certain costs may come attached to the credit card. You may be enrolled in a program that you had no idea you were participating in. Always read over your monthly credit card statements to make sure that you know exactly which programs you are paying for.

You may be enrolled in a fraud program that you do not even need. If you are already part of an identity theft safety program, then you have no need for the additional $10 a month fraud program from a credit card company.

I paid for one of these programs for several months before I finally caught on to what was up.  I immediately called the card company and protested.  I threatened to close my card and I was immediately refunded.

Had I not caught it, who knows how long I would have continued to pay it.

2. Avoid Banking Late Fees

The good news is that if you are caught with fees from you banking institution, you can probably negotiate your way out of the fees. If you had a few overdraft fees for the given month, you can protest the fees and see if they are waived. Otherwise, just try to avoid taking too much money out of your accounts.

Avoid the late fees that you can incur when you do not make timely payments on your credit cards. Your credit card company may actually charge you a certain percentage of the balance that you have as a 'late fee,' so these late fees can quickly become expensive.

3. Read Through Contractual Terms

Always read through the contractual terms when you purchase a major appliance. For home living, you may be able to use a Raleigh storage unit instead of paying more rent for a larger condo space. Make sure that you are not paying for any extended warranties that you do not need.

The biggest hit I took was on a gym membership when I was living on the west coast.  I had signed a 3 (maybe 5) year agreement without thinking twice about it.   It was too tempting because the monthly rate was only $19/month.

When I ended up moving back to the Midwest, they tried to come after me to pay for the remainder of the contract.   Luckily, the closest gym to me was more than 6 hours away and once again I was off the hook.

Lesson learned: Read the fine print.

When you are trying to cut costs in life, it is important to be aware of all of the ways that you can easily save money. Keep these tips in mind, and you will be able to successfully stick to a budget.

Carnival of Personal Finance #376 The #LifeAWARE Edition

Welcome the 376th Carnival of Personal Finance ' the #LifeAWARE edition.

With the life insurance movement taking place last week, it only seemed fitting to keep the movement going.

We had over 145 bloggers take part (see the complete list of #LifeAWARE participants) which shows how incredible the personal finance community is.

Mad hugs to all those took part. 

I thought it only seemed right to bring attention to some of the posts written for the movement.

Which was tough because there are some great articles this week!

Presenting the COPF'..

Editor's Picks

Beating Broke from Beating Broke presents The Life Insurance Movement, and says, 'I used to be on the fence about buying life insurance. But, here's the thing. I buy car insurance to help pay for damages to my car should I get in an accident. I've used that car insurance.'

Jason Price from One Money Design presents Why Is Life Insurance Important for My Family?, and says, 'Years ago something important happened in my life. I got married and it caused me to get serious about my finances. Getting life insurance was one of the top things on my list.'

Peter from Bible Money Matters presents 8 Reasons Why You Should Buy Life Insurance Today (And 2 Why You Shouldn't), and says, 'There are a lot of reasons why you should buy good term life insurance, and not put it off for another day. Let's look at a few of them.'

Robert from The College Investor presents Why Young Families Need Life Insurance More than Anyone, and says, 'Like the title says, young families need life insurance more than anyone else, and here's why, along with a few things to remember!'

Glen from Parenting Family Money presents Should You Buy Life Insurance for Your Child?, and says, 'Most people don't like thinking about life insurance and they are even more hesitant when it comes to a child. Buying life insurance for your child is something to at least think about.

Mike from Do Not Wait presents Should You Invest Your Money Into Life Insurance?, and says, 'We explain the pros and cons of life insurance.'

Best of the Rest

Adam Williams from Rabbit Funds presents Zombie Survival Guide: Are you ready for the pandemic?, and says, 'I decided to compile this emergency preparedness Zombie Survival Guide so that both you and I don't find ourselves being gnawed on by the undead.'

Bret from Hope to Prosper presents The High Cost of Planned Obsolescence, and says, 'Wednesday, I was walking my dogs around town and I noticed a couple of television sets abandoned in front of an apartment building. It got me thinking about how much money we spend on items that quickly become obsolete.'

Ray from Squirrelers presents Self-Insure Against Life's Biggest Risks, and says, 'Insurance can be a great thing, and a vital part of one's financial strategy. That being said, it also helps to 'self-insure', in the way that's shared in this discussion'

TTMK from Tie the Money Knot presents What is a Normal Amount to Spend on a Child's Birthday Party?, and says, 'When budgeting for a birthday party, how much is too much? This post discusses the seemingly runaway costs of kids' birthday parties these days, which goes counter to the notion of frugality!'

James Petzke from This Is Common Cents presents Dividend Paying Stocks: Stable, Profitable Investments, and says, 'Dividend paying stocks are an important piece of a stock portfolio, and their stable returns can be a liveable income with a big enough investment.'

Money Walks from Money Walks presents Getting Lots of Things for Free!, and says, 'Scouring the web for some good deals? Money Walks shares some of her tips for snatching up free goodies. '

D4L from Dividend Growth Stocks presents The Elite Dividend Stocks, and says, 'As investors in Dividend Growth Stocks, we want to limit our purchases to only the very best stocks. Our first step is to look at published lists of dividend companies such as S&P 500 Dividend Aristocrats, US Broad Dividend Achievers' Index and The U.S. Dividend Champions. In 2009, I devised additional criteria to apply to the Stock Ideas list in an effort to eliminate all but the Elite Dividend Stocks. Here is the additional criteria that I came up with, along with the companies that met the criteria''

Jim from Bargaineering presents America's Biggest, Most Expensive Homes, and says, 'We often think that the very rich live differently from the rest of us. And when you look at some of their homes, it seems obvious that they are a world apart. The homes of the super wealthy aren't just homes; they're practically works of art.'

Miss T. from Prairie Eco Thrifter presents How to Avoid Financial Disaster, and says, 'It's a sad and sobering thought, but ' it should be considered that some form of financial disaster is inevitable.

Clint from Accumulating Money presents Renting Versus Buying ' How to Plan Your Future in 2012, and says, 'Our economy is in an odd position. While many are still reeling from the massive 'loss' of equity in their homes as compared to the values in the mid-2000s, there is still be something to be said about the benefits of home ownership.'

Drew from Objective Wealth presents A to Z of Objective Wealth: F is for Free Markets, and says, 'Exploring the relevance of Ayn Rand's views on a free economy, in terms of both individual wealth and the potential success of the Objective Wealth blog. '

Darrow Kirkpatrick from Can I Retire Yet? presents Why Most Retirement Calculators Don't Work, and says, 'Most retirement calculators are broken. It's not that the user interfaces are confusing, or the inputs are rigid and lacking, or that they have bugs ' though many share those failings. No, the problems with most retirement calculators are theoretical, and go much deeper'.'

Justin from Saving Without A Budget presents Tips for Saving Money with Couponing, and says, 'Tips and tricks to save money at the grocery store'

Liana from Card Hub Blog presents Another Mobile Wallet? Are You Kidding?, and says, 'The latest in mobile wallets is a team effort from more than 12 of the nation's largest retailers. But does the new joint company ' Merchant Customer Exchange- have what it takes to climb the mobile wallet mountain and claim the crown as King?

Danielle from Budget SNOB presents Rental Insurance for Your Investment Property, and says, 'Helpful advice if you are considering investing in a rental property.'

Jay from Daily Fuel Economy Tip presents Can Debt Cause Health Issues?, and says, 'Protect your health by controlling your debt.'

Danielle from The New Business Blog presents Why Customer Relationship Management is Important for a Business, and says, 'Learn how to keep your customers happy when doing business. '

Jay from Money Saving Ethics presents The Answer To Your Cash Problems Can Be Helped WIth Personal Finance Control, and says, 'Can money really buy happiness?'

Danielle from Money Mishaps presents Personal Finance Talk That Anyone Can Understand, and says, 'Learn tips on how to save money opposed to mindlessly spending it.'

John from Wallet Blog presents Do You Know Your Mortgage Credit Score?, and says, 'So you're applying for a mortgage? Did you know that there is a special credit score used just for that? You better have a good record for paying your utilities on time.'

Investor Junkie from Investor Junkie presents The Cashflow Quadrant, and says, 'Our tax code is designed to favor investing and large businesses. This perfectly explains Mitt Romney's effective tax rate. It also explains why many high paid salaried employees get screwed with our tax system. It also explains why a company like General Electric (GE) paid only 2.3% in taxes in the last decade.'

Charles Davis from Wallet Hub Blog presents Is it time to Refinance Your Mortgage?, and says, 'We've all heard how mortgage rates are at record lows, but does that necessarily mean you should refinance? Hint: It's not as clear-cut of a decision as you might think.'

Ray @ Financial Highway from Financial Highway presents How to Make Money With Amazon, and says, 'There are dozens of different ways for you to make extra money online, and you don't need to spend any money on an expensive course to teach you how to do it either.'

Joe @ Excess Return from Excess Return presents Indexing with ETF or Mutual Fund?, and says, 'It is hard to argue against a strategy that produces a better return than most investment choices. If you want to invest using an index strategy, you with have two vehicle choices: ETFs or mutual funds. Each has its own set of advantages and disadvantages. How you invest will play a big role on which option is best for you.'

Boomer from Boomer & Echo presents Are You Counting On An Inheritance?, and says, 'Many boomers are not well prepared for their own retirements and are expecting an inheritance windfall to reduce their debts and provide an income.'

Eric from Narrow Bridge Finance presents Moving Past the Emergency Fund: The Liberty Fund, and says, 'In the past, I have written about the importance of an emergency fund many times, and have even given you updates on my progress to save up cash just in case. I have decided that am emergency fund is not good enough for my current situation, and I am saving up for something new I am calling a 'Liberty Fund.''

JLP from AllFinancialMatters.com presents That Keurig Coffee You Buy is Very Expensive, and says, ''

Money Beagle from Money Beagle presents Bigger Sizes Aren't Always Cheaper, and says, 'Don't always think the bigger box gives you the best value for your money.'

J.P. from Novel Investor presents What Are Target Date Funds?, and says, 'Target date funds were created as an easy way to invest for retirement. It's probably one of many options in your retirement account. But is it for you?'

Karl Marrion from WiseStockBuyer presents How to Find The Best Mutual Funds, and says, 'Dividends can be a big part of your portfolio over the long haul. So perhaps they are worth considering?'

Dan Meyers from Your Life Their Life presents 10 tips to stay in debt forever, and says, 'Most people unintentionally stay in debt forever, so here's a plan to do it intentionally!'

Money Thinker from Money Thinking presents Maybe We're Seeing Progress?

PK from Don't Quit Your Day Job' presents Revisiting the Employment-Population Ratio, August 2012 Edition!, and says, 'Coming back to the Employment-Population Ratio, which has been depressed since 2008 (that is, it is near numbers not seen since the 1980s)'

Bethy from Credit Karma Blog presents Why Did My Credit Score Drop?

Adrienne from My Dollar Plan presents How I Spend $0 on Kids Clothes, and says, 'Just in time for 'back to school' shopping time, some great tips for clothes shopping for kids!'

Everything Finance from Everything Finance presents Streamline the Path to Retirement, and says, 'The best way to approach retirement planning is one step at a time. You can do this by following these steps:'

Jacob @ My Personal Finance Journey from My Personal Finance Journey presents Who Manages Your Investments?, and says, 'This post provides the results and detailed analysis of the results of a reader poll on My Personal Finance Journey: Who Manages/Directs Your Investments?'

Andy from Saving to Invest presents 21 Signs You Are an Unmotivated (and Somewhat Unethical) Employee, and says, 'Here are 21 signs, in no particular order, that you are this type of employee.

Jim from Bargaineering presents 5 Summertime Tax Moves

Roshawn Watson from Watson Inc presents Getting Haters Out of Your Wallet, and says, 'It can occasionally hurt to have your budgeting efforts and progress minimized, ignored, or even dissed, particularly if the perpetrator is family or a 'friend.' Here are some key points to remember when people comment on the apparent disconnect between your financial plan and your consumption.'

Nicole from Nicole and Maggie: Grumpy Rumblings presents Personal Assistants and Other Outsourcing, and says, 'Nicole and Maggie discuss the often given advice to high earners to out-source household chores and other things in order to free up time to make more money or to enjoy life. It can be great when it works out, but don't forget to take into account that good help can take a lot of time to find.'

Glen Craig from Free From Broke presents Five Habits That Keep You From Achieving Your Goals, and says, 'We may say we have certain goals we want to achieve but saying it doesn't mean it will happen. See five habits that will keep you from achieving your goals.

Sean Smart from Growing Money presents 5 Essential Financial Tips for 2012.

FMF from Free Money Finance presents My Process for Determining a Suitable Rental Property, and says, 'In a recent post I gave the background on how I've decided to invest into rental real estate. In this article I will detail the process I go through in determining whether or not a property is a suitable fit for me. I've only progressed far down this road a couple times, so my process may change/mature as time goes on.'

CF from The Outlier Model presents Fiverr should be called fourer, and says, 'Fiverr is a great peer to peer marketplace where you can buy and sell goods and services for $5. Sounds great, but as I recently found out, there is a hefty service fee''

Dividend Growth Investor from Dividend Growth Investor presents The Live off Dividends Retirement Plan, and says, 'Dividend stocks provide investors with a stable and dependable stream of income which maintains its purchasing power. In addition, this income source is tax efficient and could last for life and even be available to pass on to future generations. '

Mike from The Financial Blogger presents If You're Willing to Spend Thousands of Dollars on College, Then', and says, 'Are you a hypocrite about money? We look at investments worth spending money on.'

Pierre from Intelligent Speculator presents There Is No Such Thing As A Free Lunch, and says, 'Is there ever a free lunch life? Not really.'

Martin from Studenomics presents Not Sure How to Pay For College? We Have The Answers Here, and says, 'I show you exactly how to pay for college without using student loans.'

The Life Insurance Movement ' Over 145 Bloggers Doing Their Part for #LifeAWARE

Here's a list of all the #LifeAWARE participants. Over 115 and growing!

How do you top a Roth IRA movement that gets tons of the top personal finance bloggers all to write about the same topic on the exact same day?

Duh! You pick a different topic and you do it again.

Or known on Twitter as #LifeAWARE.

For an explanation that includes me breaking it down to Usher, watch the video below.

Can't see video? Click here to watch it.

What Inspired #LifeAWARE?

I've always been passionate in making sure that families have the right amount of life insurance coverage.  Between school plays, soccer games and that little thing called 'life', many families neglect to get the right amount of coverage.  Or worse ' have no coverage at all!

In fact, it's estimated that 35 million households don't have any life insurance.  Did you catch that?

They ain't got nothing!

35 million households are batting .000 on their life insurance.

For those that do have life insurance, it's estimated that 58 million households feel they don't have enough.

Now do you see the point of #LifeAWARE?

I've Seen the Pain of Not Having Enough Life Insurance

In my announcement post of the life insurance movement, I shared the story of two widows.

Both were emotionally drained with losing their life partner prematurely.  Life insurance doesn't bring them back. What life insurance does is help make life more manageable after they are gone.

For one of the ladies, she'll never have to worry about money ever again.  She's financially stable and her finances will be the last thing she'll stress about.

Unfortunately, the other is left scrambling to figure out how she's going to pay the bills, manage her debt, and if she'll ever really be able to retire.  Why the difference?

Her husband was part of the 58 million that did NOT have enough life insurance.

What makes the above story so sad is that it could have and should have been avoided.

2 Common Mistakes to Avoid

There are going to be plenty of awesome posts joining the #LifeAWARE movement that share their personal reasons why life insurance is important to them.   I don't need to inundate you with more of the same.  I did want to leave you with the 2 common mistakes I see when people do buy life insurance.

1. Don't Buy Enough

Face it.  $100k of life insurance is probably not going to be enough life insurance coverage to take care of the house, the cars, the kids, and the debt if something happens to the breadwinner of the family.   I've talked to so many young couples that only have a $50k whole life policy and think they are good.   News flash: you are not.

If you're not sure how much insurance you need to buy, use this nifty calculator to help you figure it out:

2. Buy Insurance Through Work.

This one might be a surprise to many. Why is this a mistake?

Think about it. The average person changes jobs 5-7 times in their career. What happens to your life insurance when you change jobs?

Hint: Just like your old boss, it does not come with you.

That's right. When you change jobs you're at the mercy of your new employer to offer insurance. If they don't, then you'll have to go buy through a third party like an independent insurance agent. Which, you should do from the beginning to avoid this type of situation.

Do you know how many people I've talked to that can't leave their job because they now have some medical condition that prevents them from getting life insurance anywhere else?  Too many.

Go out and buy a 30 year term policy and you've locked in coverage for 3 decades. You can change jobs 15 times in your career and you'll never have to worry about applying for life insurance again.

Review Time

If you haven't reviewed your life insurance in a while, it's time. No more putting off waiting for the 'right time'.

Now is the right time. Your family will thank you for it.

Support the Movement

Are you passionate about making sure others know the importance of having life insurance? If so, we need your help!

Help spread the word and get a chance to win some awesome prizes. Below you'll find a Rafflecopter widget that gives you plenty of ways to bring attention to what #LifeAWARE is all about.

a Rafflecopter giveaway