How To Save BIG Money On Your Teenagers Auto Insurance

It’s Official!  Effective November 1st of this year, I officially have three children that can drive an automobile.  On one hand, it’s a sigh of relief because now I have three drivers who can make a run to CVS or Chick-Fil-A to do those small errands I simply don’t want to do at all. On the other hand, you simply worry every time your children get out on the road and spend your nights waiting up to make sure that they get home safely.   Beyond the bad and good of having your children be able to drive, the one that really hits home is your auto insurance. In fact, when my 20 year old went on to our auto insurance for the first time, even a seasoned financial advisor like myself gulped a little bit with sticker shock as a good solid student cost more than $2,000 per year.  When my second daughter went on about two years later and ...

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How Much Will It Cost When Your Son Or Daughter Starts Driving?

It’s hard to imagine for most parents that their son or daughter will be ready to get their driver’s license someday.    In fact, I think this ritual is a little bit like the birthing process.   Nature in part prepares you for very little sleep when the baby is born by making it very difficult to sleep in that last trimester.    As much as your stomach will go through the spin cycle the first time your son or daughter leaves the driveway all by themselves, there is also an overwhelming sense of relief for you to remove the chauffeur cap that you have rightly earned the years preceding your son or daughter getting their driver’s license.    While most families prepare for the magical day when their children get their rite of passage to begin driving, they often don’t consider the extra costs that may hit their family budget.   How much will it cost when my child starts driving? Learners Permit- This ...

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When Should You Replace Your Old Car For A New One?

When it comes to making smart money moves, our family has never been a big fan of buying a new car.   In fact, the last new car that we bought was back in 1993 when we really did the math on how much smarter it is to buy a used car that is somewhere between two to four years old versus getting a new one.   While getting a new car should be a well thought out planned purchase, it often falls into the camp of a spur of the moment purchase depending on when you get in the mood.    In a sound financial plan, you should begin to save for the (new) used car purchase the moment that you pay off the old purchase.  If you are like me and pay for your cars in cash, you should begin to immediately build a side fund so you can pay for that next automobile purchase in cash as well.    So the ...

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Top Ten Reasons To Buy A Used Car vs. A New Car

Top Ten Reasons To Buy A Used Car vs. A New Car Someone else pays for your depreciation Auto insurance is cheaper Monthly payments are lower You could buy a car for cash Less worry about having to buy extras Dealer “certification” programs Financing is cheap right now There are used car warranty programs Cars have a longer more reliable shelf life now No new car smell Ted Jenkin, CFP® 11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022 Phone 1.800.355.9318 or 770.777.0427 Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for ...

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