The Beginners Guide to Sinking Funds & Why YOU Need One

This year, I have vowed to be BETTER with my financial decisions.  In order to improve my behaviors and cultivate better money habits, I had to first take a look at areas where I need to focus on for improvement.  After the Mr. and I had to take $7000.00+ out of our savings to pay for a new roof and chimney repair on our rental property, I knew there had to be a better way for us to prepare for situations like this.  That 7K loss from our savings put a dent in that account and exposed a financial vulnerability that we didn’t realize existed. We were stable enough to not have to turn to credit to cover this expense, but pulling money from our savings was very scary considering that money is there to cover us in the event of job loss or a major life change.  I was an unsettling feeling and I knew that we needed to find a solution to our problem. Luckily, we came up with a plan to create a sinking fund so that we would be prepared for something like this.  It is something that will help us and I know it will help you too.

What is a Sinking Fund?

A sinking fund is an anticipatory fund that is used to save for a large future expense or the gradual repayment of a debt.  More than that, it is a proactive approach to your money. Sinking funds are very similar to the cash envelope system because it requires you to divide your income into categories and assign every dollar a job.  The main difference between the envelope system and a sinking fund is that your cash envelopes are for things you are spending on now like groceries, fuel for your car, and clothing. Your sinking fund, however, plans for future money goals.  We thought about some of the expenses that caught us off guard in the past, like emergency surgery for both of our dogs last year (that was a couple thousand dollars), or bills that are due all at once like insurance premiums. Then we came up with 10 sinking funds that we believed served our household money goals.  Check them out below.

Examples of Sinking Funds from Personal Finance Blog, She Makes Cents

Now it is time to create your sinking fund categories. Grab a pen and paper (yep, we are doing this old school), your significant other (if applicable) and a glass a Rose’ (because it makes the experience so much better) and let’s make a money plan. When you are creating your categories, remember that you don’t want to make too many funds because it will take longer to fully fund your categories.  Plus, anything over 10 is too many to keep up with, in my opinion.  

She Makes Cents Cares: I love hearing from readers, so once you have created your sinking fund categories, let me know via the She Makes Cents Facebook group, Instagram, or Twitter.

How Much Money Should Be In My Sinking Fund?

After you have created your sinking fund categories, now it is time to figure out how much money you need to have saved for each.  First, you need to figure out the goal date and total amount needed for each of your sinking funds to be fully funded.  For example, I have to pay around $450.00 every 6 months for my portion of the car insurance premium.  To determine how much money I need in this particular sinking fund, I take my next due date and I divide my premium by that number of months. It usually breaks down like this for me:

$450.00 \ 6 months = $75.00 per month 

I would much rather save $75.00 per month for six months than to have to come up with $450.00 once every six months.  Yes, it’s the same amount of money but creating a monthly car insurance fund makes the amount of the premium easier to digest. The example above is an easy breakdown because we know exactly how much money is needed and when exactly we will need the money for this fund.  Now let’s look at an example for a type of sinking fund where you don’t have a hard due date and you are not certain of the full price.   Hello, Car Repair…it sounds like we are talking about you.

We have all experienced this.  You are driving around minding your own business when a yellow warning light illuminates your dashboard.  You take your car to the mechanic and you are hit with a $1,200.00 bill. What do you do?  More than likely, you charge it to your credit card if you don’t already have some money set aside for this type of expense.  CREDIT CARD = BAD IDEA. This is a moment when your Car Repair sinking fund will work for you. Even if your Car Repair Fund only has $800.00, that means you only have to come up with the remaining $400.00, which is easier to digest than $1,200.00.  Yes, this may have been an unexpected expense but it is also one you were prepared to handle.

By creating sinking funds you take control of your money.  You know where YOUR money is so you never have to ask yourself where it went.  You give it a purpose.  If you create sinking funds to cover your future needs, you are less likely to be a threat to your future financial self and that is something that everyone can benefit from.

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Real Life Examples of Sinking Funds for the Smart Saver & Spender- from money and lifestyle blog, She Makes Cents

 

Money Saving Hacks- The Beginner's Guide to SINKING FUNDS from money blog, She Makes Cents

2018 February Recap | 52 Week BINGO Money Challenge

We are approaching week ten of the 2018 She Makes Cents 52 Week BINGO Money Challenge and I must say, that this year’s money tribe is the most committed tribe we have had in three years.  For those of you who may be new to this blog, the She Makes Cents Money Tribe (SMCmoneytribe) is an uplifting community of women from all over the world that supports each other’s financial journey and savings endeavors.  Every week, we share our wins, big or small and celebrate each other’s progress.  At the beginning of the year, it is easy to be motivated by the “newness” of everything, but as the year goes on, many people find it  Generally, the month of February is when most people abandon the goals and habits they resolved to attain.  In fact,  according to Business Insider,  80% of people fail their New Year Resolutions by February so the #SMCmoneytribe is going strong means that we are beating the odds with our money goals and resolutions we made for ourselves at the beginning of 2018.  WAY TO GO, TRIBE!

How To Save Real Money With This Money Challenge | February Savings/Income Report 52 Week Bingo Money Challenge from Money, Career, & Lifestyle Blog, She Makes Cents

How To Save Real Money With This Money Challenge | February Savings/Income Report 52 Week Bingo Money Challenge from Money, Career, & Lifestyle Blog, She Makes Cents


February Recap: 52 Week BINGO Money Challenge

Back in January Recap of the 52 Week BINGO Money Challenge, I shared a MAJOR goal to have my student loans PAID IN FULL by October 2019.  In order for me to reach this big money goal, I have to aim for smaller milestones along the way.  For the month of February, I saved a total of $210.00 on this challenge by crossing off $45, $15, $50, $49, plus a $51 bonus.  Every week, without fail, I select a number from the She Makes Cents Money Guide and I send that amount to my student loan provider.  Additionally, since the Mr. and I are knocking out this debt together, the Mr.’s contribution of $250.00 helped us to send an extra $460.00 (in addition to the monthly payment) toward student loan debt.

This time last year, I had over $18,000.00 in student loan debt with a goal to get my student loan balance to $12,505.00.  Not only did I hit that goal, I surpassed it before the end of the year.  By January 2018, I had a balance of $12,505.00 (the extra $5 was because of the daily accruing interest) and I closed the month of February at $11,378.37.


How to Join the 2018 SMC Money Tribe

How to Join the Best Money Saving Challenge - from Money, Career, & Lifestyle Blogger, Danielle YB Vason of She Makes Cents

The new 2018 SMC Money Tribe Facebook group will serve as a “home base” for the #SMCmoneytribe.  There you will be directed to fill out a quick registration form and download the money card. This is a space for active members and as a member of the SMCmoneytribe, you will gain exclusive content, motivation, and financial tips and tricks that will help you whether you are saving to pay down debt like me or saving to take a fabulous trip or two in the new year (also me).  This year, you will have the option to do your weekly check-ins on Friday and/or Saturday on all of our social media handles to make it easily accessible to people who are only active on certain platforms.

HERE IS HOW YOU CAN JOIN THE TRIBE & THE MONEY CHALLENGE…

  1. Join the SMC Money Tribe Facebook Group
  2. Complete the registration form to select your weekly check-in date
  3. Follow She Makes Cents on InstagramTwitterFacebook
  4. Pick a savings goal & get ready to save some $$$$ in 2018

    shemakescents header image - 2018

Monday Motivation | How to Navigate the Road to Success with a Simple Self Check

It’s a new week. You made it through the Super Bowl, but more importantly, you actually went to work instead of calling in for bereavement leave for Jack Pearson after lasts nights’ episode of This Is Us. Congrats, that is a mini win by itself. As we all begin a new week full of promise and progress, I want to urge you to take a deep look at things we unconsciously do as a form of self-sabotage. If we can self-correct these things that we are all guilty of, from time to time, we will be better with how we handle our money, careers, relationships, and lifestyle goals. In order to do better, we must know better and to know better, we must make self-reflection something that we do often. The smart, beautiful, diverse and encouraging financial accountability community affectionately known as the SMC Money Tribe inspired this post and I hope that it inspires a bit of self-love to some really dope women.

Monday Motivation | How to Navigate the Road to Success from Money, Career, and Lifestyle Blog for Goal Setting Millennial Women, She Makes Cents

Every week, tribe members are encouraged to take part in financial check-ins where they share their weekly wins and progress on the She Makes Cents 52 Week BINGO Money Challenge. In that space, women are not afraid to toot their own horns by celebrating their big and small wins. I’ve noticed though that many of the tribe members have been a little hard on themselves lately and embarrassed by their smaller strides. Maybe you are not as far in your debt free journey as you thought you would be. Or maybe, you haven’t actually started yet. Either way, it is time for a mindset shift toward positivity and abundance. One day or day one? Are you ready? Let’s get started.

Stay in Your Lane

Stay In Your Lane | 5 Ways to Overcome Self-Sabotage in Your Money. Career, and Lifestyle Goals from Atlanta Blogger, Danielle YB Vason of the blog She Makes Cents

We all remember this moment when the swimmer, Chad le Clos, took his eyes off the prize to see what Michael Phelps was doing. If only he stayed in his lane and stayed focus. How often do we get caught up in what other people are doing? We focus on other people’s money, their careers, their relationships, and whatever else they are doing for the Gram.  Instead, we should invest that energy in our own money, career, and relationships.  When you take your eyes off the prize to see what other people are doing, you are wasting time that can be spent cultivating better habits for yourself.  Le Clos wasted his time and lost. Let that be a lesson to you. What other people do is NONE OF YOUR BUSINESS!!!!  When you stay in your lane, there is nothing to distract you from the target in sight.

Evaluate How You Measure Your Own Progress

Progress Over Perfection | Ways to Defeat Self Sabotage from Top Millennial Blog, She Makes Cents

I have noticed lately that members of the SMC Money Tribe get embarrassed when they are crossing off a lower number on the 52 Week BINGO Money Challenge, especially when other members of the community are crossing off higher numbers for the week. That is because they are measuring their progress against the progress of someone else. I spoke a little about this on the She Makes Cents Instagram page, but I want to go a little deeper here. Instead of measuring your progress by how far you have left to go, instead, celebrate how much progress you have already made. Think about to your starting point and know that you are in a better place than where you first began. I created the BINGO version of the 52 Week Money Challenge was because I knew that there would be weeks where I could not afford to save a lot of money and in those weeks I could select a lower amount to cross off of the money card.  I would rather save a small amount than nothing at all and that fact that the SMC Money Tribe and I save money EVERY WEEK and put it toward our money goals is something worth celebrating by itself.  Also, if you wait until you have saved a significant amount of money or are in a place to make a lump sum payment

For this week and moving forward, I charge you to check how you measure your own progress and how you focus you are on your goals at hand.  Write your top money, career, and lifestyle goals on a piece of paper and put it up somewhere where you will see it all the time.  Stay focus on your goals.  Create a strategy to reach your goals and don’t’ be afraid to celebrate your wins, big or small.  Have a great week!

She Makes Cents Blog Named in the Top 40 Women Financial Blogs on the Web

The future is FEMALE and that future is NOW!  In the past year, I have seen an increase of women taking the reigns over their money and careers with a never seen gusto…at least since I have been an adult.  Women are investing in themselves, their money, their careers and their lifestyles and are encouraging other like-minded women to do the same.   Last week we learned that She Makes Cents, the premier money and career blog for goal-setting millennial women, was selected by  Feedspot as one of the Top 40 Women Financial Blogs on the web. The list, which was announced early January of 2018, features a mix of content producers who share similar goals- bringing personal finance to a female audience. She Makes Cents Founder, Danielle YB Vason shared her experience with her #SMCmoneytribe. “I am thrilled to be recognized amongst the list of well-known financial influencers and brands that I both follow and admire,” Vason admits. “As a blogger, it is easy to feel like you are talking to yourself out there on the web, so when you have your hard work recognized, it’s a very humbling feeling”. So where did She Makes Cents rank? Well, we are pleased to announce that She Makes Cents the blog came in the top 20 ranking at #19.

She Makes Cents Blog Named in the Top 40 Women Financial Blogs on the Web

Other bloggers included on the list were some of our favorite reads such as City Girl Savings, My Fab Finance, and the brand Daily Worth, which topped the list at number one.  According to Feedspot, “This is the most comprehensive list of best Women Financial blogs on the internet” and the blogs that made the list were reviewed under these criteria of Google reputation/search ranking, influence on social media, quality of posts, and Feedspot’s editorial team and expert review.

A word from our founder

I am so thankful for the SMC Money Tribe for joining me on a shared financial journey.  Your stories and questions have helped to shape the content that is created for this blog.  When I created She Makes Cents, my goal was to help millennial women become more financially literate.  I wanted to inform and inspire readers to use their “cents” to live the fab life.  I wanted to encourage the community of goal setting women to define what the fab life means to them. I hope that I have done that and I will continue to do just that… inform, inspire, and encourage.  Congratulations to the SMC Money Tribe because this recognition is a reflection of your debt free journey too.  

SMC Book Club | How To Get the Most Out of Your Power Word of the Year

On the first day of the year, I asked readers to share their 2018 power word that reflects their goals and visions for themselves. The response to that one question, which was posed to all of our social media networks, was both inspiring and eye-opening. It occurred to me that in place of resolutions people are looking to find a purpose that flows into multiple areas of their lives. As people responded with words like happiness, growth, self-care, and consistency, I couldn’t help but think of books I would recommend to inspire people based on their chosen word. The power of choosing a word that you hope will define your year is that it forces you to reflect on areas of your life that you want to be better or that deserve your focus. Once a word is selected and claimed in advance, you prepare yourself to receive all of the good things that come with that word. My inspiration for the next SMC Book Club read comes from the idea of one taking an active step toward applying one’s own word to one’s life.

SMC Book Club from She Makes Cents _ Power Word of the Year.jpg

February Book Selection

This is the year to do better and be better and I resolve for our group to be great, supportive, consistent, and a place for goal setting women to come together. The energy in the SMC Book Club during our last book, Boss Women Pray, was so amazing and I want to build on that and I want to inspire you to be successful with your power word or else it will lose all power over your life. For the month of February, we are going to do something a little different. Instead of reading the same book together, let’s take the month of February to read a book that is inspired by the word of the year that you chose yourself. My hope is that each of you follows through and make the time to find a book that relates to YOUR word; a book that inspires you toward your self-mandated purpose to you have selected to help guide you this year. According to U.S. News, 80% of people give up on their resolutions and New Year goals by February. Let’s be the 20% together by starting our new book on February 1, 2018.

How Our Book Club Works

Every other month, we select a new book from a mix of editor and reader’s suggestions. For reader suggestions, we ask that selections embrace subjects such as power women, money, career, and lifestyle that informs and inspires us. We then announce the book selection here on shemakescents.com before the start of the month to give you time to opt-in and get your copy of the book from the She Makes Cents store on Amazon. Discussions for the book take place in our weekly book chats in the SMC Book Club group on Facebook as well as the She Makes Cents Instagram page. Trust me, the dialogue in the group is LIFE!

Since everyone will be reading different books for February, the book chats will be tailored to this unconventional reading experience. If you would like book suggestions based on your power word, let me know. I can be found on social media at the @shemakescents handle.

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Monday Motivation | What ONE Power Word Reflects Your Vision for 2018?

It’s the first day….better yet, the first Monday of the new year and I couldn’t think of a better time to urge you to choose a power word to reflect your goal of self-improvement for the new year. Around this time, people reflect on the past year and envision the promise for greatness to come. The most successful people write down their goals, thoughts, and ideas to manifest the power of the law of attraction. Oprah explains, “Create the highest, grandest vision possible for your life because you become what you believe”. Back in 2013, I asked readers of She Makes Cents to share one word to reflect their personal goals/resolutions/vision for the year ahead and the response I got was inspiring. Since this, I have asked the same questions to readers every year on the first day of the New Year. With every 365 days that go by, we evolve and our needs, wants, and aspirations change.  That being said, it is important to create a foundational vision with a “power word” to help guide the path ahead. Looking back at my earlier words, I remember where I was in my life, what was important, and what I needed to work on.  In 2013 my word was balance.  Then came focus (2014), passion (2015), bravery (2016), and intention (2017).  Power Word of 2018 | Word of the Year from Money, Career, Lifestyle Blog, She Makes CentsFor 2018, I chose “Declutter” as my power word. By definition, the act of decluttering requires one to simplify or get rid of mess, disorder, and complications. It also requires you to organize and prioritize your commitments and material possessions. The word “declutter” is one that I will apply to every area of my life in a mental, physical, and spiritual sense. I will take this year as an opportunity to declutter my finances, organize my career goals and execute those ideas, and rid my space of disorder. Back in 2011, researchers from the Princeton University Neuroscience Institute studied what happens how the brain processes clutter.

When your environment is cluttered, the chaos restricts your ability to focus. The clutter also limits your brain’s ability to process information. Clutter makes you distracted and unable to process information as well as you do in an uncluttered, organized, and serene environment.

I have never been so excited to apply a power word to my year and this one is all-encompassing to severals areas of my life.  I know many people do not do resolutions anymore, but I still do.  Now that I have my word of the year, I can create resolutions where I can clarify my goals and visions while ridding and mess and disorder that may negatively impact my money, career, or lifestyle.shemakescents.com

Your Ultimate Guide to the 52 Week BINGO Money Challenge IN 2018

Today is the last weekend of 2017 and my last check-in for the She Makes Cents 52 Week BINGO Money Challenge for the year.  In fact, this past Friday marked 104 consecutive weeks of doing this money challenge successfully.  In the past two years, I have eliminated my credit card debt altogether as well as shaved YEARS off my student loan repayment term.  More importantly, I have cultivated a habit of saving money.  Personal finance is 80% behavior and 20% head knowledge according to the financial writer, Dave Ramsey. To be successful doing this money challenge I had to change my behavior and put saving for my money goals above fleeting things and experiences.  That was something that took a few failed attempts to learn.  Yes, a few years ago I would start the challenge, hit a mini goal, and fall off.  Then two years ago, I realized that I had to do something different if I wanted different results… and so I did.The Ultimate Guide to the 52 Week Bingo Money Challenge- from She Makes Cents

What is the 52 Week BINGO Money Challenge?

The BINGO Money Challenge is a variation of the popular 52 Week Money Challenge that I created back in 2013.  The original challenge called for people to save money according to the number of weeks of the year.  For example, on week one you would save $1.00 and on week 52 you would save $52.00.  At that time in my career, I had a base salary and I worked on commission so my checks were never consistent.  I attempted the challenge and failed. Hey, it happens.  I then thought to myself, girlfriend…. you should make a “bingo” version…  So I created my first bingo money card and started saving because the original version did not work for me. I needed something that would set me up for success.  The thing is, it doesn’t matter if you cross off $52 dollars on the 52nd week of the year, all that matters is that you cross off a box on the money card every week.  Either way, you end up saving the same amount of money and you have the ability to save more or less based off how your current financial situation for each week.  Since then, the BINGO Money Challenge has evolved into a money challenge with unlimited savings potential.

Who is the SMC Money Tribe?

The support from She Makes Cents readers started to pour in when I began sharing my progress on the 52 Week BINGO Money Challenge.  At the time, my money goals were top of mind but also was the new realization that I had to report my progress to people who were invested in my success.  I started to get emails and social media shout outs from readers who started the bingo version of the challenge themselves.  Before I knew it, I had accountability partners that I have never met who shared their progress.  We supported the BIG wins and the days were all anyone could afford to save was $1.00.  We were on this money-saving journey together and friendships started.  Now, the SMC Money Tribe is an uplifting community of women from all over the world that supports each other’s financial journey and savings endeavors.  Every year people contact me for the latest version of the SMC Bingo Money Card and I found that the most successful people had one major thing in common. In fact, people were 79% more likely to complete the challenge if they are active in the SMC Money Tribe.  It makes sense when you think about it because you have accountability partners there to lift you up when the challenge gets hard to keep up with.

How to Join the 2018 SMC Money Tribe

How to Join the Best Money Saving Challenge - from Money, Career, & Lifestyle Blogger, Danielle YB Vason of She Makes CentsThe new 2018 SMC Money Tribe Facebook group will serve as a “home base” for the #SMCmoneytribe.  There you will be directed to fill out a quick registration form and download the money card.   This is a space for active members and as a member of the SMCmoneytribe, you will gain exclusive content, motivation, and financial tips and tricks that will help you whether you are saving to pay down debt like me or saving to take a fabulous trip or two in the new year (also me).  This year, you will have the option to do your weekly check-ins on Friday and/or Saturday on all of our social media handles to make it easily accessible to people who are only active on certain platforms. 

Here is how you get started…

  1. Join the SMC Money Tribe Facebook Group
  2. Complete the registration form to select your weekly check-in date
  3. Follow She Makes Cents on Instagram, Twitter, Facebook
  4. Pick a savings goal & get ready to save some $$$$ in the New Year


The Real Issue Millennial Women Face Living Paycheck to Paycheck

Fact. 3 in every 4 US workers live paycheck to paycheck, according to a Harris Poll conducted on behalf of CareerBuilder.  It is easy to chalk it up to poor spending habits, but is that the main thing that is keeping so many people counting coins until payday?  I would dare say, no.  While poor spending habits leave you feeling… well, poor, other factors such as debt, stagnant wages, and a constant increase of living come into play when looking at the stressful reality of living paycheck to paycheck.  Yes, this is a financial issue, but for millennial women, it can also be a  feminist issue.  The Real Issue Millennial Women Face Living Paycheck to Paycheck from Millennail Money Blog, She Makes Cents

The online women’s magazine, Bustle, recently contacted She Makes Cents Founder, Danielle YB Vason, to get her thoughts on the subject.  

“The fact that 54 percent of Millennial women live paycheck-to-paycheck, according to a 2016 Wells Fargo Millennial Survey of over 1,000 U.S. adults between the ages of 22 and 35, sheds light on a perfect storm of issues and realities that young women face.  In addition to paying more due to the ‘pink tax’ on everyday items, more Millennial women are graduating college than men, which means that, along with the degree, they get the $30,000+ debt that comes along with it. Then, when the first job comes, women are paid 20 percent less than their male counterparts. It is not just a financial issue, but a feminist one, as well.”

The fact that Bustle is promoting real conversations about money amongst millennial women is changing the way we as a culture think about talking openly about the subject.  In the article, millennials from all over the United States share their experiences about what living paycheck to paycheck is really like.  Maybe you can relate to their stories or maybe it opens your gaze to experiences of others, either way, it is a starting point to begin real conversations about money (how we spend it, save it, and invest it) and its direct impact on millennial women.  She Makes Cents | Money, Career, & Lifestyle Blog for Goal Setting Millennial Women

Millennials Get the Best Rates on Life Insurance & They Don’t Even Know It

When you hear the term “life insurance”, what comes to mind? Is it your parents’ and grandparents’ generation? Is it a sad thought like death or the process of planning a funeral? Or, is it something that you have on your to-do list to understand when you are “older” because you are not in that headspace right now? For many millennials, life insurance is just not high on their priority list, which is evident from the 2015 study from Life Happens and LIMRA that found that “60% of millennials prioritize mobile phones, internet, and cable over life insurance”. I believe that millennials are not jumping on the life insurance bandwagon because the idea of death seems so far away. More than that, millennials do not understand what life insurance is, what it does, and how we, as a generation, are in the best position to get the most affordable rates. Cell phones, internet, and cable are all elements of one’s day-to-day life whereas the need for life insurance is so far out, right? Wrong. Having life insurance provides a day-to-day safety net that financially protects the people who depend on your income, like family, and in some cases friends, in the event that something happens to you.  

This post may contain affiliate links at no extra cost to you.  Please visit our Disclosure Policy for more info.
How to Get Affordable Life Insurance | from Money & Career Blog, She Makes Cent

Of the living generations, millennials are in the best position to take advantage of the best rates on life insurance. That is because insurance companies view millennials as low risk because of their youth and presumably good health. Those “low-risk” statuses are one of the main reasons that millennials save more money and are able to lock in a lower, more affordable rate as compared to older generations. To take the savings potential even further, millennial women, in particular, generally receive the lowest quoted rate. That is because women live longer and are perceived to be less likely to partake in risky hobbies such as skateboarding, skiing, and sky diving – all hobbies that insurance companies consider dangerous, cause premium increases and are often attributed toward experiences men enjoy more by insurance companies. When you think about it in those terms, it should not be   so surprising that millennials get the best rates on life insurance.

Why Do Millennials Get the Best Rates for Life Insurance?

The benefits afforded to the “avocado toast” generation and their ability to lock in an affordable rate is evident to Generation X (1965-1981) and the Baby Boomers (1946-1964) and not millennials, according to data collected from this Health IQ quiz.  When asked this questions, “Which of the following generations is most likely to get the best rate for life insurance?” the results were eye-opening. Of the generations represented, 80% of Generation X and 62% of Baby Boomers answered correctly, in comparison to only 33% of millennials understood their own savings potential. That’s right, 67% of millennials do not know they are in the best place to lock in the cheapest premiums.  The point of life insurance is to protect those people who are financially dependent on you. Traditionally, that includes a spouse or children, both of which represent life stages that millennials are delaying until later in life. However, life insurance also covers parent beneficiaries who may have co-signed on a loan for you and would be held responsible to pay off debts like your student loans should the worst happen. 

Related Post: 5 Things Every Millennial Should Know About Life Insurance

YES! Millennials Need Life Insurance | from Money + Career Blog, She Makes Cents
For a generation with information at their fingertips, who comparison-shops and lives for the deal, it is surprising to find out that we are missing such a great savings opportunity. Life insurance for millennials is affordable because of their presumed good health and youth. It can be even more affordable when you find a life insurance company, like the Health IQ, that celebrates people like runners, cyclists, high-intensity interval training athletes, vegans, and more with exclusive rates. These special rates reward one’s healthy lifestyle with financial gains that leave more money in your wallet. Many millennials are embracing a health-conscious lifestyle anyway, so why not tap into the full benefits that come with it. Life insurance is something that every adult should have, so why not consider one that rewards habits that keep you healthy, and for being a She Makes Cents reader, I am able to offer you this special rate. You will never be as young as you are today, so it is time to lock in a rate now while it is cheaper. Trust me, it is A LOT cheaper than you expect and your future self will thank you for it.

This post was first featured on the Health IQ blog and the Froogal Student.

She Makes Cents | Money, Career, & Lifestyle Blog for Goal Setting Millennial Women

Monday Motivation | Signs It Is Time For You to Refuel Your Life

You are driving your car and the light signaling that you are running out of gas goes on.  How do you react?  Are you the type of person who never experiences this because you would never let your gas level get to that point, let alone even under the halfway mark?  Are you the type who immediately detours to the nearest gas station?  Or, are you the type that is completely unfazed by the warning light?  When I was younger, I made sure I never let my tank get below ¼ because I was intentional about taking good care of the car.  Over time, I started getting adventurous and stopped thinking about the sludge that my car was running on when I ignored all the warning signs to refuel.  Not only is driving on an empty tank dangerous, it often ends up costing you more than you think.

How To Refuel Your Life | Self Care Tips for Women from Blogger, Danielle YB Vason of She Makes Cents

All of the above are true statements for proper and basic car maintenance AND they are also true for your life.  You are still you in the analogy above because you have the power to make the decision to STOP and REFUEL when your mental, physical, and spiritual tank is low.  The car, well that can represent anything from your mind, body, career, money, lifestyle, relationships, etc…. anything that is an essence of you.  You see, when we ignore the warning signs of life we miss out on opportunities to refuel and invest back in ourselves.  I call this process “feeding your soul”.  It is so much harder to be productive in all areas of your life when you are running on sludge and close to emptiness.  The best way to avoid a low life tank is to make time to rejuvenate and figure out what feeds your soul.

Simple Ways to Refuel Yourself

Back when I was living off my reserve energy and had little to no energy to breathe life into my career and relationships, I was doing more harm to myself than necessary.  To combat this, I made a list of all of the things that I do that I lose time in.  This list included reading, enjoying the company of close friends, snuggling on the sofa with my hubby, going on walks with my dogs, making brand boards for clients, even being back in a dance studio environment.  I found that these were activities that I didn’t watch the clock while doing, but rather got lost in a moment.  Whether I have five minutes or 5 hours to give to these sorts of activities, I found that when I made time for things that feed my soul, I am also feeding my life tank so that I can be creative and successful in other areas of my life.

Going through life with the low fuel light on is one of those things that we know we shouldn’t do but still let happen from time to time.  Only when you are well fed will you have the fuel to feed your hustle in the best way.  Otherwise, you will starve your hustle, your mind, your money, your career, and your relationships when you are running on empty. Today, I want to urge you to take better care of yourself before warning signs, that often manifest as exhaustion and/or a health scare, gets your attention.  Refuel yourself this week and you will be a better person for it.How To Refuel Your Life | Self Care Tips for Women from Blogger, Danielle YB Vason of She Makes Cents