One of the big questions that you have to ask yourself as a parent is whether or not you should get life insurance for your child. Programs like the Gerber Grow-Up Plan let you buy life insurance for your children for a small price. Then, when your child is older, he or she can keep the life insurance policy, ensuring that he or she is insured, or the policy can be cashed in to help pay for college.

Another consideration is that it is possible to purchase “regular” life insurance for your child. Some people choose to purchase whole life policies for their children. And, of course, many parents have riders attached to their own policies. These small insurance amounts are meant to help cover burial costs. Here are some things to consider as you determine whether or not to buy life insurance for your children:

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A Flexible Spending Account (FSA) can be a great way for you to save up money to pay health care costs, while at the same time receiving a tax benefit. When a FSA is offered, you usually put in up to $5,000 a year, pre-tax. This lowers your taxable income, while providing you with an account to draw on when paying for prescriptions, medical care, or making co-pays.

However, a FSA doesn’t roll over; you use the money in the account, or you lose it. Some FSA plans require you to use all the money up by December 31 (if that’s your plan, you better hurry), while others give you until March 15 to use up the money. This “grace period” can make it easier to use your money more effectively, and to get in for appointments. You don’t want to lose your money, so it’s time to make a concerted effort to spend the money in your FSA:

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Insurance companies are one of the sectors of the economy that we all love to hate. Even the people who sell insurance are seen as just a little bit shady by some. Much like car salesman, we love not to trust them and although that’s largely unfair to the hard working sales force in America, the insurance industry, like every other industry, carefully picks and chooses what they tell you and what they would rather you not know.

It’s not that they’re lying but if a lie of omission is still a lie then you may be able to make a case that some fabrication is going on. Hidden within these omissions is everything from largely non-significant all the way to something that could cost you big dollars if you’re ignorant to the specifics of the policy.

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A lot has been made about health care in the United States, especially given the recent passage of “health care reform.” Proponents of health care reform argue that it wasn’t enough, enemies of the bill say that it puts an undue burden on businesses and is government interference in our personal lives. No matter how you approach it, health care is a big issue because, bottom line, we all want to be healthy, right?

Well, as it turns out, it’s very easy for you to not use all of your medical benefits. I don’t mean flexible spending accounts, which are the most obvious benefit that could be squandered either by not participating or letting a balance expire. I mean the regular routine checkups you are eligible for but don’t take advantage of.

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One of the things that you will likely spend a great deal of money over time is insurance. Health insurance, car insurance, life insurance, home insurance and other types of insurance are all required to adequately protect your assets and your family. If you are shopping around for insurance for the first time, or just reviewing your current policy to make sure it is what you need, comparing rates can save you money.

The process of buying insurance can take more time, but you can get a good start on the process by comparing insurance rates. Here is how you can get a cost comparison in 55 seconds:
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I am not an extremely frugal person, but I am not a spendthrift either. I love squirreling away my money just as much as I love my home, health, and hobbies. In short, my husband and I save more than a third of our income on a regular basis, but we do not cheap out on certain things. Specifically, I will spend whatever is necessary to live healthily and sleep well. Frugality has its place in the world of personal finance, but there are some things that you just cannot afford to be cheap about and things you can.

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Long time readers of Bargaineering probably recall that I don’t have collision or comprehensive insurance on my car. It’s a decision that paid off with my first car and one that I’ve stuck with on my current car. While it helps that I don’t drive very often (I work from home), it’s a financial risk that I’ve decided to take on and certainly not an insurance policy I recommend you skip.

There are, however, plenty of insurance policies out there that I am comfortable suggesting that you skip. Here are just three of them:

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All the news over the past year (or three) about the skyrocketing price of gold and silver has probably gotten your attention. Maybe you have a few pieces of jewelry you no longer like (or perhaps an earring that has lost their bud) and are considering selling. It’s natural to try to get a little more out of your stuff, especially if you don’t use them anymore.

One thing that some people, ourselves included, tend to forget to do on a regular basis is get our jewelry appraised to ensure our insurance coverage is sufficient. As gold and silver prices rise, you may discover that your insurance coverage is no longer enough to cover your valuables.

I would recommend getting your jewelry re-appraised every four or five years, unless you’ve seen a big run-up in commodity prices. With precious metals becoming more valuable as of late, now is a good time to re-appraise your jewelry unless you’ve already done so in the last few years. The easiest way to check is to review your appraisal paperwork to see when it was done and how your piece was valued. If you it was appraised last year, then the higher commodity prices were used. If it was done ten years ago, you might want a refresher.

While you’re at it, you should be regularly updating your home inventory too.

(Photo: ljv)

A lot of newspapers and magazines have been celebrating the rising value of gold and silver over the last few years, citing as a reason why investing in gold might be a good idea. A lot of other newspapers and magazines are noting that gold may be overpriced and that a gold bubble has formed. Regardless of who is right, I think it illustrates a fundamental problem we all face every single day.

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If you watched any television during the holidays, chances are you saw (and fast forwarded through) a lot of jewelry commercials. I learned what ever kiss begins with, where “he” went to, and how long a diamond is “for.” If you bought anything sparkly this winter, chances are you’ll want to make sure it’s protected in the event it’s lost or stolen. That goes for any new golf clubs, televisions, or other big ticket items you may have purchase (if you had a December to Remember… well that’s covered by auto insurance).

While jewelry is typically insured by a jewelry rider, almost everything else is covered by your base insurance and you’ll want to update your home inventory to make sure you remember you owned it. While insurance will cover it if you can prove you own it, the home inventory simply makes it easier for you to remember and document if you need to.