MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Secrets That Are Possibly Hidden By Your Life Insurance Agent

Not all life insurance agents are trusted advisors. So, the simplest way to prevent being exploited is to seek for an independent agent that will save you time and money. Here are the other secrets that your Life Insurance Agent may be keeping from you…

1. THEIR INCOME IS BASED ON COMMISSION

The agent’s income is solely compensated from the commission. It is one of the possibilities for the agent to have a personal interest that leads to you buying the highest premium possible equating to their highest commission possible. Thus, it may change his/her perspective of things, as well as the type of products clients are introduced to.

2. CASH VALUE WILL NOT BENEFIT YOU RIGHT AWAY

Yes! Cash value will build-up. But it takes about five years to have the cash value equal to the amount you paid for the whole life insurance.

3. BUY TERM AND INVEST THE DIFFERENCE

The term insurance is significantly less expensive than the whole insurance. This is why you can buy term then invest the difference on mutual funds. In fact, the combination of term and your investment for mutual funds may be less costly that the whole life insurance.

4. YOU MAY NOT NEED CHILD LIFE INSURANCE AFTER ALL

Renowned experts namely: Dave Ramsay, Suze Orman, and Neal Frankle are on a arguing against buying life insurance for kids.

“The only reason you need life insurance is if anyone is dependent on your income…please, you new parents, do not let anyone talk you into buying a life insurance policy on your child.” said Suze Orman.

Image Credits: State Farm via Flickr

According to them, if your child is not at the risk of a serious illness and you are financially stable to cover foreseen medical bills then, you are better off without it. Instead, save up for your child’s education until tertiary level.

5 Free Video Editing Apps You Should Download Now

Do you want to share your beautiful memories captured on videos but think that it needs extra effects or finishing touches? Fret not because many Video Editing Apps that have a near-professional quality are available for free on iTunes and Google Play store. Check these 5 Video Editing Apps to add a personal shine to your videos…

1. SOCIALCAM

Available for IOS and Android devices

Socialcam App fuses the power of video editing and social network. It allows you to add vintage filters to your videos that you can share to your friends anywhere. You can also view the other videos uploaded in the community. What is great about this App is that it lets the users shoot at a 720p HD quality while using its HDR functionality to color-correct videos in real time. Also, you can shoot as long as you want.

2. MAGISTO

Available for IOS and Android devices

Magisto App is basically an editing shortcut right in your fingertips. All you need to do is upload a video, choose your theme and background music then, the App will do the rest. It automatically selects the best scenes to create a better video.

3. CINEFY

Available for IOS devices

Basic yet productive are the words to describe Cinefy. Cinefy App has a user-friendly interface that lets you select from over a hundred of special effects and animations that you can add on your video. You may also add your favorite song from ITunes.

4. MONTAJ

Available for IOS devices Montaj App allows you to shoot a series of 5-second clips that you may sort in a storyboard where you can add music and filter. A cool feature if you are willing to try your luck is to shake your smartphone to let the App choose a random song and filter for your video. Here is a sample:

5. CUTE CUT

Available for IOS devices

As a user myself, if I were to describe Cute Cut briefly I would say it is a handy moviemaker. The Cute Cut App guides the newbie with its pop-up help tips. Its features include: drawing on your video, changing the videos’ borders, drag-and-drop layout, and customizing your video with music effects, texture, transitions, and shadows. Not bad for a Free App!

How Safe Are Online or Mobile Money Transfer Services?

Money Transfers that lets you send money in just the few clicks of the mouse or the few taps of your hand seemed unimaginable decades ago. But nowadays, online and mobile apps are sprouting everywhere. Its convenience to send money to your friend for instance, even if you live far away from each, keeps you tempted to use it.

However, when you allow doing the transactions online with your personal details, you are also vulnerable to identify theft, fraud, hackers, or worse. This is why it is important to ensure that you enable all the security features that the company offers. Here are some of them…

1. SQUARE CASH

Square, Inc. is a company that permits individuals and merchants in the United States, Canada, and Japan to accept offline debit and credit cards on their iOS or Android smartphone or other tablet devices.

Square has SSL to protect your identity and activity. Also, the company makes sure that your personal data and password are encrypted. However, they do not have two-factor authentication and notifications that tell you when your password has been changed or when you have added a new account.

2. PAYPAL

PayPal is one of the largest online money transfer services available worldwide. It is available on your laptop, smartphones, or tablet devices. Its international digital wallet allows business to make payments and transfer money fast without the traditional paper methods.

Unlike Square Cash, PayPal protects your account further by allowing two-factor authentication and notifications as soon as account changes have been made. They warn the users to watch their transactions and assist them through the help pages. They also offer SSL to protect your identity and activity. Lastly, your personal data and password are encrypted.

3. GOOGLE WALLET

Google Wallet, developed by Google, is an online money service that allows the users to store their debit cards, credit cards, loyalty cards, and gift cards as well as redeeming sales promotions through the mobile application.

Google has a strong protection wall like PayPal. They offer a huge volume of information on how to be safe when using their services. Putting money in your Google Wallet account or paying online is a breeze however; getting your balance back is quite difficult. This may seem less convenient but it is good from a safety perspective.

Image Credits: www.google.com.sg/wallet/

In conclusion, older and tested money services such as PayPal and Google Wallet have set up a tougher protection wall. And, if you choose to use these services, be sure to enable all its security features and be vigilant about your cash flow at all times. Also see Mothers day in Argentina.

You Will Be Sorry If You Missed The Rockstar’s Warehouse Sale

Rockstar will be moving their apparels online and will soon vacate the outlet at Orchard 22. This is the best time for you to pick up some good bargains from some of the labels like Vans, Obey, Toms, Timberland, Jack Spade, Rockabilly, Melissa and more.

If you don’t know what i am referring to, check out the earlier post here: Rockstar: Warehouse Sale Up To 90% Off (7 – 22 Mar 2015)

The sale is on until 22 March 2015 so don’t wait too long before the stocks get snapped up like the Lowry’s Farm Sale.

Image: Rockstar\

Haven’t check out Rockstar’s Warehouse Sale? We did the work for you.

The crowd is still there after the third day of sale and as you can see everyone is busy searching for their treasures. We picked a few items to let you have a sneak peak at what’s going on in the warehouse sale.

SIFT Shirt ~~$139~~ $50 / OBEY Pants ~~$119~~ $50

Pointer shoes ~~$119-$169~~ $70 – $101.40

Soon Lee Dress ~~$149~~ $44.70!

Pointer Shoes $50

..more Pointer Shoes $50

Macbeth Shoes $60

59FIFTY Cap ~~$79~~ $30

Carhatt Shirt ~~$191.55~~ $95.78

Fever London Dress ~~$169~~ $84.50

Dr Denim Shirt ~~$89~~ $44.50

Converse shoes $29.90 – $49.90

Havaianas ~~$49.90~~ $24.95

Melissa Shoes at 30% off

Dresses at 50% – 70% off ($8 – $10)

Timberland shoe 60% off ~~$299~~ $119.60

Heidi Klum New Balance Shoe 60% off ~~$139~~ $55.60

Tailor Shirt at 50% off

Saw something you like? Don’t wait. Head down to Rockstar’s Warehouse Sale at 22 Orchard Road now!

Don’t forget to share this post so your friends won’t miss this sale!

Money Management Tips From Around The World

Diversity is rich in meaningful insight that extends to financial values and money handling practices. Know more about the 5 money strategies from around the world that you can use in your everyday life…

1. CHINA: MAKE FRUGALITY YOUR MANTRA

China has a strong culture of saving. Being raised by Chinese parents, you will feel that saving at least 50% of your income is normal. In fact, China’s government has saved about 51% of their GDP in 2013, according to the International Monetary Fund. Make frugality your mantra by saving electric bills through charging your hand phone at work and by unplugging everything after usage.

2. ASIA: TRY TO BARGAIN ON ANYTHING

I cannot be the only one who constantly asks if there are discount options or if there is a better price offer. In Asian countries, negotiating is a common practice especially for those who are purchasing in the market or flea. Whether it be computers, bed sheets, or apples…there is always a better price and all you have to do is ask politely.

3. GERMANY: SHY AWAY FROM CREDIT

Germany has a deep aversion towards debt and an emphasis on responsibility. This is why they prefer to pay cash than credit. Having to pay with the money you already have is a wise decision that is accepted by most. This preference for cash is evident as they use one of the most valuable currency denominations in the world – the €500 note.

4. JAPAN: VALUE ONE’S MONEY

In Japan, money is handled with respect and is kept clean and crisp. This is why it is common to give cash as a gift, especially for significant life events such as weddings and funerals. Interestingly, they value money so much that they sell anti-bacterial wallets to sterilize the bills. Treating money with profound respect helps the saver to resist the urge of spending.

5. GUATEMALA: ASK FOR THE FAMILY’S OPINION

Most countries of Spanish decent have close family ties.

Image Credits: Alfonso Lomba via Flickr

This is why before making huge purchases or monetary decisions, some Guatemalans ask for their family’s advice. This is a good tip because you never know who has a connection, a friends-and-family discount, or even an extra of the item so you do not have to purchase.

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