We’ve rounded up a few partners that can help you save and can make sure you’re covered, no matter what comes your way this year.

Protect your loved ones

We get it. Buying life insurance seems like a really big decision, but term life insurance policies are cheaper and easier to qualify for than you think. Check out Bestow.

Life insurance can provide a financial safety net for your partner and children in case anything happens to you, giving them income to meet expenses.

For example, life insurance can help your family pay the bills, deal with outstanding student loans, medical debt, or other everyday expenses. Getting life insurance could be one of the most important financial decisions you make for your family and the ones you love.

Don’t have kids or a spouse? If you have a cosigner on your loans they could be stuck paying off your unpaid debt.

Protect your home and your belongings

Renters insurance allows you to rest easy, knowing your stuff is covered and giving you financial protection in the case of unexpected events. Check out Lemonade for quick and affordable policies.

Renters insurance is one of the most cost-effective ways to protect your belongings. In addition to fire and theft, most policies also cover damage from vandalism, windstorms, lightning, and certain types of water damage.

Here’s something else you may not know: your renter’s policy can also help protect you outside the home. Did your bike get stolen? Renters insurance can cover that. Phone was snatched at the coffee shop? Renters insurance can cover that. Did someone injure themselves on your property? Renters insurance can cover that.

Protect your car

Car insurance is something you have to have if you own a car, but did you know that switching your policy provider could help you save money?

These days, some companies, like Root, are using mobile technology to help you save even more than you would with a traditional insurance company. See how much you could save with Root.

The post Easy Money Moves to Make appeared first on Stash Learn.

Item #1. Automate your savings

We have the best intentions when it comes to putting money aside for the future. We promise ourselves we’re going to put money aside every week. But often, we don’t.

Automation can make saving easier. Recurring Transactions puts it into action for your investments. It’s part of The Stash Way.

You can also now schedule recurring transfers into your debit account! You choose the amount of money to transfer into your Stash debit account and the frequency. 

By automating sums of money into your savings or investments, on a regular basis, you’re reinforcing good money habits.

Item #2. Get rid of hidden banking fees

A dollar here, $20 there—these bank fees can really add up. In 2016, for example, consumers were charged $34 billion in overdraft fees—and that’s just one of many kinds of fees many banks charge.

Stash debit doesn’t cost you anything to set up, there are no minimum balance requirements, and we won’t charge you any monthly or annual fees to maintain the account1.

Item #3. Start saving for retirement

There’s a wonderful life to be led after you stop working. You don’t need a lot of money now to start saving for retirement. Worried you don’t have enough money (or that you’re too young to get started)? Trust us, the best time to start is today.

Consider your retirement savings are a love letter full of cash for when you need it most.

Item #4. Protect your family

We get it. Buying life insurance seems like a really adult decision. But a long-term life insurance policy can provide a financial safety net for partner or kids. in case of your unexpected passing.

It can help your family pay the bills, outstanding student loans, medical debt, or other outstanding expenses. It could be the most important decision you make for your family.

Item #5. Give a child you love a financial head start

Send a child you love into the world with money in their pockets and a solid financial education.

With a custodial account, you can start contributing to it when they’re young–and teach them all about investing along the way. Once they’re over 18 (or 21 in some states), they can use it for college, a down payment for a home or they can take it over and keep contributing to it.

Item #6. Protect your stuff

Good news for homeowners and renters: It doesn’t cost a lot of money to protect your stuff. You can insure all your valuables in case disaster strikes (think fire, busted pipe, or burglary). It can even pay for a hotel if you have to be out of your apartment or home for a while.

The post Change Your Financial Life With These 6 Steps appeared first on Stash Learn.

Here’s a checklist of ten things to consider doing before you ring in the new year.

1. Automate your savings

Automatic beats manual every time.

You can use the Set-Schedule feature as part of the upcoming new and improved Recurring Transactions tools to make it easier to put your savings and your investing goals on autopilot. Just program how much money you want to put aside toward your investments and how often (say $20 toward your preferred investment mix every week). No need to remember to do it. It’s a great way to build great habits, week in and week out.

2. Set financial goals for 2019 calendar year

Create a budget and stick to it. Aim to set aside money from each paycheck to build an emergency fund, which should have three to six months of expenses in an account you can access easily.

Then, think about your longer-term goals. Are you thinking of buying a house or a new car? Just “saving money for the future” can be sort of vague (and not that inspiring). Be more concrete about what you’re saving or investing for and you’ll be more excited to get there.

3. Get inspired to save for retirement

Whether you have a 401(k) or a Stash Retire account, think about how you can start to contribute as much as you can.

An IRA or 401(k) can help lower your tax bill as you save for retirement. You can put away $6,000 in IRA and Roth IRA each year. (In 2019, the maximum contribution increases to $6,000.) A 401(k) will let you contribute $18,500 annually, and $24,500 once you hit 50.

Can you try to hit the maximum contribution in 2019? It’s definitely worth trying.

4. Review your insurance policies

Whether you rent an apartment or own a home, you’ll want to get covered. It can protect you against theft and many of other catastrophes, potentially saving you both time and agony. And if you’re a homeowner, your home or apartment may have increased in value, thanks to climbing property values, your renovations, or other updates. You may need to insure for a higher value.

Same goes for your term-life insurance policies. If you’ve had a child or grandchild, or are caring for an elderly or ill parent, you may need a higher value policy. Don’t have life insurance? Now’s the time to figure out if you need it–before you need it.

5. Check your credit report

Don’t just swipe and pray. Find out what’s in your credit report. It contains all of the information about your loans and credit accounts, in addition to personal information about you, including your name, address, Social Security number, and employment information.

Each of the three credit reporting bureaus—Experian, Transunion, and Equifax—collect this information and provides it to lenders when they perform a credit check on you. They also use it to compile your credit score.

Start 2019 on a good note. You are entitled to a free credit report from each of the three credit bureaus every year. Many other sites also offer you insights about your credit, without dinging your credit score.

6. Contribute to a custodial account

Got a kid in your life that deserves a head start? A custodial account is just like an investment account, except it’s for your kids or any child for that matter. Stash lets you create a portfolio in a custodial account using any combination of the individual stocks or funds on the Stash platform.

There’s no limit to how much a custodian can put into an account each year, and no maximum lifetime limit. Opening one is easy, just start here.

7. Make the most of your Flexible Spending Accounts

You may have a Flexible Spending Account or FSA through your workplace. Your FSA lets you put money away on a pre-tax basis, which can lower your tax bill while giving you access to funds to pay for many of your medical charges.

An FSA is primarily a use-it-or-lose-it account. That means you don’t get to keep any unused money you’ve put away for the year.

8. Schedule year-end health care appointments

There’s nothing more important than staying healthy. Next year is a fresh year, and most health plans will reset the clock on your annual deductible, which can mean you’ll pay hundreds or thousands of dollars before your health charges are fully reimbursed (minus your copays.) Consider scheduling medical appointments before 2019 starts.

9. Give to charity

Your gifts to charity can be tax-deductible, and there are hundreds of worthy charities out there, from disaster relief to helping fight childhood hunger. Also, your donations don’t have to be cash. Some charities will allow you to donate used clothing and furniture, among other common household items.

10. Get Stash

Stash makes it easy to get started investing and saving for all the things you want to do in life. You can start with just $5.

The post Want to Have a Happy New Year? Do These 10 Things appeared first on Stash Learn.

“Home Alone” is the story of Kevin McCallister (played by Macaulay Culkin), who is accidentally left behind by his family as they embark on an overseas trip during the holidays. After indulging in some alone time, Kevin ultimately has to fend off the Wet Bandits—two burglars played by Joe Pesci and Daniel Stern—who attempt to burglarize the McCallister home and have been breaking into nearby residences.

The movie was a holiday hit, and inspired several sequels. But there are aspects of the film—financial, mostly—that have left many perplexed in the nearly 30 years since it was released.

For example, how did Kevin’s parents, Peter and Kate McCallister (a successful businessman and a fashion designer, according to the movie novelization), afford to take his whole family (around 15 people) on a holiday trip to Paris? And how much would it cost to repair all of the damage done to the McCallister home following Kevin’s booby-trapping?

Well, ya filthy animals, we’re digging up some answers.

All that pizza

Total cost: $230

At the beginning of the movie, the McCallisters order pizza–a lot of pizza—from the fictional Little Nero’s pizzeria. It’s a big family, which calls for a big order. In the movie, the cost for the pizza totals up to $122.50.

Adjusted for inflation, that’s around $230. Talk about extra cheese—that’s a lot of mozzarella.

The trip to Paris

Total cost: ~$40,000

In the movie, the McCallister clan, and some members of the extended family—a total of 15 people (by most counts)—head to Paris for Christmas. Peter and Kate likely earn a decent income, meaning that they could probably afford the trip. But how much would it actually cost?

Roundtrip airline tickets to Paris on American Airlines would cost more than $35,000 for a group that size, according to one analysis.

And that doesn’t take into account hotel rooms, meals, activities, and the foie gras (~$50 per pound) that Uncle Frank likely choked down.

Repairing the house

Total cost: $220,000

By the end of the film, the McCallister residence is a mess. The place is partially flooded, paint cans dangle from the staircase, BB guns and blowtorches lie strewn throughout the house. How much would it cost to repair and restore everything?

The actual Home Alone house, a 4,250 square-foot home in suburban Chicago, is worth nearly $2 million these days, according to estimates. It last sold for almost $1.6 million in 2012.

After all the traps were sprung, and the burglars, the Wet Bandits, were vanquished, how much would the repair bill be for the castle de McCallister?

More than $220,000, according to one calculation. Most of that has to do with repair flood damage to the kitchen and basement.

Note: This is why it’s good to have homeowners insurance.

Replacing Buzz’s tarantula

Total cost: $70

Buzz, the bully son of the McCallister household, had a pet tarantula. Naturally.

But it gets loose and is presumably lost. How much would the little demon-spawn cost to replace?

Tarantulas vary in cost, depending on the breed. But we’ll go with $70, which seems to be a rough estimate.

The post Pizzas and Spiders and Paris, Oh My! The Enormous Expenses of “Home Alone” appeared first on Stash Learn.

For a few bucks a month, you can cover your laptop, your stereo, your clothes, furniture, and everything else in your apartment.

Renters insurance is like a roommate that comes through in the clutch and pays the bills when catastrophe strikes.

Before you send out invitations to your big BYOB housewarming bash, check out all the things that renters insurance can cover.

Party catastrophes

It’s all fun and games until someone knocks over the halogen lamp and starts a fire. Or invites a guest that swipes your cell phone. Or has a few too many and falls through the screen door and breaks a wrist. You’ll wake up with a hangover and a stack of bills.

Renters insurance can protect you against fire, theft, and clumsy party guests. It’s true, your policy can cover you in case your injured friend comes to you with medical bills.

Preserving your friendship and saving your wallet. Nice!

Lame landlords

There’s no insurance policy that can protect your from an absentee or not-so-attentive landlord. But if a pipe bursts or your windows blow out from a storm, damage to your stuff is covered. And if your place becomes uninhabitable, your policy can pay for temporary accommodations until you can move back in.

That’s way better than couch surfing or moving back in with Mom and Dad.

Road trips gone bad

Did you know your policy can actually protect you while you’re out of the house? It’s true. If you’re traveling by car, by train or by plane and lose your phone or other prized possession to pickpockets (or just bad luck), you won’t have to pay to replace it yourself.

Break-ins and burglary

No one likes to think about it but burglaries happen. It can be unnerving to think about a stranger having been in your home and then downright sickening to think about the cost of replacing your valuables.

While no one can replace memories or restore your faith in mankind, you can feel a little better that you won’t have to open your wallet to pay for what someone stole.

Bad dogs

Dogs are the best. Until they bite someone. Your policy can help protect you in case your naughty pup nips someone in your home. It can pay for your injured houseguest’s medical bills and cover you in case of legal liability. Not all dogs are covered so make sure you read your policy carefully.

Let’s review: Renter’s insurance typically can cover:

• Personal property
• Personal liability & medical bills
• Temporary living expenses… in the event of theft, fire, lightning, windstorm, vandalism, freezing, damage from aircraft or vehicles, riots, etc.
  

In short: Your stuff is replaceable. Your sanity isn’t.

Whew.

The post Moving In? Get Renters Insurance To Protect Your Stuff appeared first on Stash Learn.

Your primary concern when shopping for a renters or homeowners insurance policy is the cost. That, or you’re worried that you’re already spending too much on your current coverage.

How can you tell if you’re current policy is too expensive, or you’re paying for coverage you don’t actually need? Start with a quick review.

Do an insurance policy review

Start with a couple of basic questions. What does your current policy cover? And given your needs, is it too little or too much? What would you actually need in the event that everything you owned was destroyed?

Sure, reducing your coverage can lower your monthly cost. But you’ll want to make sure that the total coverage is still enough to replace your belongings if you actually need to make a claim, and that the specific things important to you are actually covered under the policy.

On the other hand, if you have an expensive policy, you could be paying for too much coverage — or, coverage that you don’t actually need. This is why it’s important to take a closer look at your policy to see what you’re paying for.

What are you paying for?

Make sure you understand the difference between the Renter’s insurance vs. Homeowner’s insurance.

A renters insurance policy covers your personal property, meaning the belongings you have in a home or apartment that you rent. Homeowners insurance, on the other hand, is coverage for your house or property in addition to your personal belongings.

If you’re a renter, you know that many landlords require you to have a renters insurance policy before you can even move in. And if you cancel that policy, they may not allow you to renew your lease.

While your landlord may be responsible for insuring the building you live in (be it a house or apartment), purchasing additional coverage, in the form of a renters insurance policy, can cover you in the event that your personal property is stolen or destroyed.

Foregoing insurance will save you now, but could cost you later

Take stock of your personal property and belongings. Odds are, you have more stuff than you think. What would you do if you were to lose it all?

Your computer, phone, TV, Playstation, clothes, bed, collectibles, and everything else — it could all be lost in a break-in, or destroyed by a fire. Do you have the money to replace all of it? Do you have a back-up plan?

Renters or homeowners insurance can be that back-up plan. It’s a small cost now for huge potential savings later. And it’s hard to put a price on peace of mind.

The post Homeowner’s & Renter’s Insurance, Am I Paying Too Much? appeared first on Stash Learn.

“As we got closer, we realized it was our roof,” Milam says.

They sped toward their house in Hammond, Louisiana and breathed a sigh of relief to find Milam’s mother-in-law standing in the yard with their two children. While their family was safe, the house they were renting was heavily damaged by both fire and smoke.

And with no renters insurance, Milam, 30, and her husband were left bearing the full financial brunt of replacing their belongings. The damage: About $50,000.

Less than half of people have insurance

Only 41 percent of renters have insurance, compared with 93 percent of homeowners, according to a 2016 poll conducted by the Insurance Information Institute, even though the average annual renters insurance premium is just $188.

While the landlord’s insurance will cover the exterior of the building structure and things like plumbing and electrical work, it will not cover a renter’s personal belongings in the event of fire, theft or storm damage, according to the Insurance Information Institute.

Renters insurance is one of the most cost-effective ways to protect your belongings, according to the National Association of Insurance Commissioners. In addition to fire and theft, most policies also cover damage from vandalism, windstorms, lightning and certain types of water damage, such as burst pipes.

The fire that displaced Milam’s family was caused by faulty wiring, Milam says.

“We have tried to save some special clothing, books, and wood furniture, but it all must be sent to specialists to evaluate if it can be saved,” she said.

They found a new rental house shortly after the fire and immediately began researching renters insurance policies.They found a policy for under $40 per month, and they found peace of mind.

“The cost of the insurance is minuscule in comparison to the losses you could incur,” Milam says.

No insurance, big costs

Nate Masterson also learned about renters insurance the hard way, after accidentally leaving an old electric heater turned on in his Riverdale, New York apartment one cold, winter morning about two years ago.

The appliance overheated and the carpeting caught fire. While the fire department was able to save the apartment and the building from being a total loss, Masterson’s belongings weren’t so lucky. He lost his TV, XBox, speaker system, couch and his prized coffee table, a family heirloom bought at the 1893 Chicago World’s Fair.

“I had to go a good year without these things until I could save up enough cash to replace them,” Masterson says, adding he also had to pay his landlord nearly $15,000 for all the damages to the apartment.

Masterson, 28, hadn’t even considered renters insurance until a friend told him how inexpensive it was and how much money it could have saved him. He began to research and said he “flipped” when he realized how cheap a policy would have been. He now has a renters insurance policy for about $20 per month.

“The moral of the story is to always get yourself covered before moving into any apartment as you’ll at least have some kind of buffer in place in case you’re stuck in an emergency situation,” he said.

Extra insurance for special things

Renters insurance not only covers loss of property due to theft, but it’s also possible — and probably prudent— to get what’s called a floater policy for additional coverage for expensive or high-value items such as jewelry or musical instruments.  

Joanie Knight’s property was totally uninsured when she returned home to find that her babysitter had cleaned out her house in Bogalusa, Louisiana.

“I had returned to work after being a stay-at-home-mom and had only been working for two weeks. I knew the babysitter because her granddaughter and my daughter went to school together,” Knight said. “When I returned on that day, everything in my house was gone or broken, even clothes and bathroom supplies. We recovered some of the major appliances, but lost so much more. We ended up filing for bankruptcy almost one year to the date.”

Knight, 29, and her husband had been researching renters insurance and were waiting for her first paycheck to buy a policy. While the babysitter was prosecuted and Knight received a modest amount of restitution, it wasn’t enough to make up for all they’d lost.

She says they will never be without renters insurance again.

“Anything can happen,” she said. “Even by people you thought you knew.”

It’s a great time to take an inventory of all of your major possessions, including electronics, bikes, furniture, dishes and kitchen appliances, clothing and expensive jewelry.

Knowing how much you stand to lose will ensure you get the right coverage, and it will set you up for a smooth claims process if your possessions do get damaged or stolen.

Masterson said he doesn’t want other tenants to learn their lesson the hard way, as he did.

“For anyone in the position of tenant, it’s imperative for them to have renters insurance,” Masterson said.

The post How Renters Insurance Can Save the Day From Disaster appeared first on Stash Learn.

What would you do if something happened to all of it?

Truth is, this isn’t something we like to think about. We want to focus on experiences, not things. We also want to assume that bad things happen to other people, but never to us. And most of all, we don’t want to imagine (literally) paying the consequences if something happened to our stuff.

But if Mother Nature or theft takes its toll, a serious chunk of change may suddenly leave your pocket.

No fear – there’s an easy way to protect your stuff (and your wallet): renter’s insurance.

Yeah, you read right. But if you’re gonna get an insurance policy, make sure you get the best bang for your buck.

But wait, do I actually need renters insurance?

Renter’s insurance is that thing your parents keep reminding you to get, but you don’t think you actually need. Think of it this way – if someone broke into your apartment tomorrow and took your stuff, could you (or would you want to) replace everything at full price?

If your answer is no, you should probably think about getting a policy.

Here’s what would happen if someone broke into your house while you were insured: first, you’d file a claim, either over the phone or fax or, in a rare and lucky case, on an app. If it’s approved, your insurer would pay you back for the damage, so you wouldn’t have to pay yourself. Nightmare, dodged.

How can renters insurance save me money?

If you have a renters policy, you can get reimbursed for a wide range of situations.

Let’s start with your stuff. If something happens to anything you own because of an unfortunate event (think: theft, fire, lightning, windstorm, vandalism, freezing, damage from aircraft of vehicles, riots, etc), your renters policy can reimburse you, even if it happened outside of your home.

So if your phone gets stolen while you’re traveling abroad, your renters insurance can reimburse you, and save you the headache (and wallet ache).

But wait, there’s more!

Let’s say your friend, neighbor, or pizza delivery guy slips while they’re at your house, or you leave your stove on, and the apartment fire wreaks havoc on your neighbor’s apartment. In both of these scenarios, the parties involved may ask you to pay for the repairs, medical bills, and they might even sue you (ouch).

But no fear – your renters insurance policy will reimburse you for your legal fees, medical expenses, and damages to others. Who knew?

We’re not done yet. Your coverage would also kick in if your place becomes unlivable – if a pipe bursts and floods your apartment, for example. The cost of your hotel (and maybe even room service!) can be taken care of by your insurance policy. Because let’s be real: if your digs become unlivable, the last thing you want to do is spend more money on relocation.

That was a mouthful. To sum it up, renter’s insurance covers:

• Personal property
• Personal liability & medical bills
• Temporary living expenses.

… in the event of theft, fire, lightning, windstorm, vandalism, freezing, damage from aircraft of vehicles, riots, etc.

Okay, cool. any other benefits?

At the risk of being cheesy, renters insurance does one more thing that you can’t put a price on: it allows you to rest easy, knowing your stuff is covered and giving you financial protection in the case of unexpected events.

Ready to get a quote for renters insurance? Lemonade can give you one here.

The post An Unexpected Way To Save Money: Renters Insurance, Explained appeared first on Stash Learn.