Just because you're no longer a student doesn' mean your car insurance rates have to go up. Here are seven tips to keep your car insurance rates low after college.

Shop around for insurance quotes
Once you have graduated from college, you will most likely be looking to save money in any way possible. One way to do this is to shop around for car insurance rates. Many people simply choose the first company they come across and never bother to see if there are better options available.

However, by taking the time to compare rates from different companies, you could potentially save a lot of money. You can easily find an online car insurance quote by searching for “car insurance rates” on your favorite search engine.

Once you have found a few websites that offer this service, simply enter your zip code and some basic information about yourself and your car. In just a few minutes, you will be able to see how the rates from different companies compare.

Then, you can choose the company that offers the best rate for your individual needs. By taking the time to shop around, you can ensure that you are getting the best possible deal on your car insurance.

You may still be eligible for a good student discount.
This discount is usually available to students who maintain a GPA of 3.0 or higher. Check with your insurer to see if you're still eligible for this discount after graduation.

Get married!
College graduates often face challenges when it comes to car insurance rates. One way to keep your rates low after college is to get married. Some insurers offer discounts for married couples, so this can be a significant savings.

In addition, married couples tend to have more stable lifestyles, which can be a factor in rates. If you're looking for ways to keep your car insurance rates low after college, getting married is one (maybe extreme) option to consider.

Consider raising your deductible
With a tight budget, it can be difficult to afford both the car and the insurance. If you're looking to keep your insurance rates low, consider raising your deductible. By doing so, you'll be paying less each month in premiums.

And if you haven't had any accidents or traffic violations, you'll likely have a lower rate when it comes time to renew your policy. Of course, there's always the risk that you'll have an accident and end up having to pay more out of pocket. But if you're a safe driver, raising your deductible is a great way to save on car insurance.

Bundle your auto insurance
After college, you're finally on your own. No more dorms, no more meal plans, and no more parents! One of the first things you'll need to do is get your own place and start paying your own bills. And that includes car insurance.

Your rates will probably be higher than they were when you were a student, but there are a few things you can do to keep them low. One option is to bundle your auto insurance with other types of insurance, such as renters or homeowner's insurance. By bundling all of your insurance into one policy, you may be able to get a discount.

Drive carefully!
After you've graduated college and are out on your own, one of the first things you'll need to do is get car insurance. And if you're looking to keep your rates low, there's one important rule to follow: drive carefully!

Your driving record is one of the biggest factors that insurers consider when setting rates. So if you want to avoid paying a lot for insurance, it's important to always follow the rules of the road and avoid accidents.

Of course, accidents can happen even to the best drivers. If you do find yourself in an accident, be sure to shop around for new insurance quotes before you renew your policy.

Take advantage of various discounts
If you're still carrying the minimum coverage that you were required to have as a student, you may be in for a rude awakening when you get your first post-graduation insurance bill. However, there are some things that you can do to keep your rates low.

One is to take advantage of discounts for things like having an alarm system installed in your vehicle or completing a defensive driving course. Another is to shop around and compare rates from different insurers. By taking the time to research your options, you can find an insurer that offers the coverage you need at a price you can afford.

Shop around!
Now that you have graduated college, it's time to start thinking about your next steps. One of those steps might be shopping for car insurance. You're probably used to your parents helping you out with that, but now it's time to take control and find the best rates for yourself.
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Start by getting quotes from a few different companies. Make sure to compare apples to apples, and don't forget to ask about discounts. You might be surprised at how much you can save just by doing a little research.

Once you've found the right policy, be sure to keep your driving record clean. This will help keep your rates low and ensure that you're getting the best possible value for your money.

Graduating from college is an exciting time full of new opportunities and experiences. And while your car insurance rates may go up slightly after graduation, there are still plenty of ways to keep them low. Just remember to shop around, drive carefully, and take advantage of discounts whenever possible. Congratulations on graduation—now go enjoy the open road!

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Inheritance tax and estate tax can be confusing topics, and to make things even harder, the rules vary from state to state. In order to try and help you to improve your financial knowledge on this subject, we have compiled this blog post. Whether you're in the middle of getting your affairs in order or are just wanting to be prepared for the future, let's take a look at what you need to know about inheritance tax below.

Estate tax vs inheritance tax
The estate tax is a federal tax that is applied to the transfer of the estate of a person who has died in the United States. This would apply if an estate was transferred via a will or according to state laws of intestacy if there was no will (and it was worth enough). It could include cash, retirement accounts, businesses, real estate, or any other type of asset. There are also state-level estate taxes that apply alongside this in some regions.

To make things even more confusing, certain states have inheritance taxes instead. In this case, the tax is payable by the person who inherits, rather than being applied as a levy, as is the case with the estate tax. This often means that inheritance tax is more confusing and challenging to work out as it has to be done by the individual.

It can be easy to get mixed up between the two types, but there are some key differences. Inheritance and estate tax are both levied on property passed down from one generation to the next. The main difference between the two is that inheritance tax is levied on the beneficiaries of the estate, while estate tax is levied on the value of the estate itself. Beneficiaries of an estate are typically family members, while the executor of an estate is responsible for paying estate tax.

Inheritance tax is usually lower than estate tax, but both can vary depending on the value of the property and the relationship between the deceased and the beneficiary. Understanding these key differences can help you to make informed decisions about how to best protect your assets.
​When is estate tax paid?
As of 2022, the limit for federal estate tax is $12.06 million for individuals and $24.12 million for married couples. If your estate is worth more than this, it will be taxed on the amount that passes this threshold.

This comes into force as soon as the person dies, so if you are planning your finances and want to ensure that your beneficiaries receive the maximum amount after you die, you may wish to start thinking about this early.

There are 11 states that currently only levy estate taxes. These are:

• Connecticut
• Hawaii
• Illinois
• Maine
• Massachusetts
• Minnesota
• New York
• Oregon
• Rhode Island
• Vermont
• Washington DC

However, the thresholds for state-level estate taxes range massively, from $1 million in both Massachusetts and Oregon to $9.1 million in Connecticut, with varying rates.

When do inheritance taxes apply?
​On top of this, there are inheritance taxes to consider too, although luckily, Maryland is the only state that levies both an inheritance tax and a state-level estate tax. The other states with inheritance tax laws are:

• Iowa
• Kentucky
• Nebraska
• New Jersey
• Pennsylvania

We recommend looking up the rules in your state to ensure you fully understand which taxes will apply. Financial advisors can help you if you are planning your estate to benefit your family when you pass or if you are a beneficiary trying to navigate the will and estate during the already difficult period of losing a loved one.

​The word “unexpected” can strike fear into the hearts of even the most seasoned business owner. Small businesses in the United States and worldwide have faced the all too familiar theme of unexpected business costs and subsequent closures when they could not pivot quickly enough. If you are facing a sudden expense on your balance sheet this year, or want to avoid becoming a number in the failed business statistics for 2022, now is the time to review your options and take action!
 
Statistics of FailureRunning a business is already difficult, even in a relatively calm economy and during ‘normal’ circumstances. 20% of businesses started in 2016 failed within their first year, and that statistic only grew as each year passed reaching 49.7% after year five.
 
The number of touch points where your own business can fail has likely increased due to the onslaught of challenges that have come from COVID-19. With businesses forced to close their doors for extended periods, the way customers interacted with brands and services immediately shifted. While some businesses experienced a huge period of growth due to this shift, many saw irreparable losses and took hits they never saw coming.

COVID-19’s Stretch Into the PresentThe U.S. census bureau recently updated their data pulled from a survey of single business owners who employed 1-500 employees. Of those polled, over 21% said that the pandemic had a large negative effect on their business. A group of nearly 43% of individuals reported that they experienced moderately negative effects. Due to the far-reaching consequences of COVID-19, many businesses reported that their operating budgets either became woefully inadequate or altogether decimated for many who were already in precarious circumstances.

Define the “Unexpected”Even if you beat the odds stacked against you by the world we live in, there are still unexpected costs that can pop up. Whether preventable or not, it’s not uncommon to run into one or more of these problems at any point in the life of your business. We know you haven’t come this far from starting your own business to closing your doors because of an avoidable challenge. Here are some things to look out for when monitoring the success of your venture!

Emergency Funds Aren’t ThereUnexpected costs are inevitable in the course of running a business. Perhaps something breaks, or software updates or new hardware or equipment is required to keep up with the industry. Maybe a natural disaster damages your building or a cyber-attack takes out your customer data leaving you paralyzed until you can get someone in to help. While many things are covered by Small Business Insurance policies, the ability to bounce back is crucial to ensure that your business stays on its feet. If emergency funds aren’t on hand to cover a higher ticket cost, a large bill could come your way that might set your business back for weeks or even months if you’re not prepared.
 
Neglected Business PlansIn the excitement of starting a new business, it’s easy to look beyond the ‘boring’ details of business plans and move on to the fun of building and growing without looking back. But lofty financial projections paired with neglecting to reevaluate regularly can create the perfect storm for costs to sneak up without warning. It’s recommended that companies – especially younger ones – review their business plan annually to make sure they are on track and that their current numbers and objectives reflect the original goal. Taking the temperature of your business can mean the difference between reaction-based operations and feeling in control of your company’s growth trajectory. Putting the time into extra forethought can prevent unnecessary expenses before they have a chance to materialize.

Sudden Opportunities and GrowthA great entrepreneur is able to make quick decisions, adapt, overcome, and keep moving forward, helping entrepreneurs keep their businesses bulletproof from unexpected costs. Some of those costs could be from unavoidable, negative events, but often opportunities can suddenly come along that require action to enable the growth of your business. A sudden surge in business may require creating and hiring for new roles to handle an influx of customers. As a specific market becomes more competitive, it might be time to try new strategies in social media, content, outbound marketing or all of the above, and hire a growth hacking agency to get ahead of the curve. The sooner your business can act on opportunities, the sooner you can see gains in reputation and increased revenue!
 
Weigh Your OptionsNo matter what circumstance brings an extra expense your way, knowing where to look for solutions is paramount! The recent onslaught of financial challenges businesses faced recently has prompted a surge in fintech companies. These entities seek to provide much-needed financial services through technology, which means easier and faster access to funds. The type of funding you pursue may depend on the time, amount, and nature of the expense at hand. Here are a few options to look into!

Small Business LoanThe United States Small Business Association (SBA) defines small businesses as dependent on the industry they occupy. ‘Small’ could mean anywhere from 100 to 1500 employees, which means if you are one of the 32.5 million small businesses in the united states, a Small Business Loan could be an option for you! If you know the exact amount needed to cover a large expense, such as a large piece of replacement equipment or furniture for an office remodel, exploring a one-time Microloan loan might be a good call. Other options exist for larger amounts provided all other personal financial options have been used. It’s always best to do some research to see what loan would be best for your situation.

Line of CreditIf a business loan isn’t something you feel comfortable with, or are able to pursue, a faster, and more flexible option available is a business line of credit. This form of a business loan can often be applied for online via fintech entities with a quick turnaround time for approvals and access to funds. Additionally, the funds borrowed only have to be paid back as they are borrowed. Small business loans provide a set amount of money available, much like the limit on a credit card, and each time a pull on that available amount is taken out, repayment is based on the amount used. This is great for a business needing to cover payroll during a slow month, pay for unexpected damages quickly, or keep the cash flow going during slow seasonal businesses. These types of loans are great for larger purchases or expenses that cannot be charged with a credit card.
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Credit CardsFor smaller or younger businesses, loans may not be an option. Both business loans and line of credit loans may require the business to have a presence in their space for a certain amount of time, or bring in a set amount of profit annually. To cover routine purchases or smaller unexpected expenses, a business credit card could help build the credit for your company.
 
A credit card is great for unexpected opportunities as well. Perhaps there is a great conference happening across the country, and the only way you can attend is to purchase tickets and cover travel expenses with a credit card. Would you like to experiment with software or a new tool to help keep your business current? Pay for memberships and subscriptions without having to go through a loan application process.
 
Beat It Before You Meet ItIf you have scrambled to cover expenses in the past, no doubt you want to avoid the feeling of panic that quickly takes over after realizing you don’t have enough money! Planning as much as possible won’t cover every possibility that can come up – who would have thought a few years ago that we would be going through a global pandemic? But taking some steps to set up financial firewalls can keep fear of the future at bay.
 
Keep Your Budget RealisticOverspending on unnecessary extras or uneven distribution of your operating budget can mean little is left over to have in reserve for emergencies. List out expenses that could come about due to growth. Review past financials to find patterns when you may need to rely on having a line of credit funds handy. Are you constantly using a credit card to purchase everyday items? Maybe it’s time to reallocate funds where they can be better used.
 
Grow to Thrive, Not SurviveDuring periods of explosive growth or uncontrollable events, businesses often adopt reactive business strategies that help them keep up with demand. However, these strategies aren’t best for building the sustainable trust and brand awareness that helps keep your business thriving instead of on life-support. If reactive policies are left in place, profits and stability can cap out, preventing the changes and flexibility needed to pivot. Gather a growth team tasked with finding ways to grow flexibly, with more stability and profitability.
 
Don’t PanicFledgling businesses and those still attempting to recover from the pandemic may have exhausted cash reserves, but some research and evaluation of your needs both now and in anticipation of future needs will help your business thrive for years to come. If or when your business comes up against financial costs unexpectedly, remember that the options to find funding when you need it are out there! 

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Whether you're a seasoned professional in a lucrative field or just entering the job market for the first time in Princeton, news of a recession can be very worrying. In the first quarter of 2022, the U.S. economy shrank by 1.6%, and the Bureau of Economic Analysis predicts that the number could be similar in the second quarter. If true, that would mean the country is in a recession, which can come with job losses, rising interest rates, and other difficult financial circumstances.

The good news is recessions are an opportunity for many, and you can thrive with just a few tools at your disposal. In fact, you can flourish with budgeting, protecting your home with insurance, and making well-researched purchase decisions. By knowing that you can jump over the financial hurdles that come with a general economic downturn, you may be able to reduce the anxiety and depression that comes with money problems. 

Manage a Household BudgetBudgeting is common advice given to U.S. households, but many families either aren't able to follow their plan or don't create one in the first place. This isn't much of a surprise, as budgeting can feel like tedious work, but it is important to be financially savvy during a recession. According to the U.S. Bureau of Labor Statistics, the average household spends 16% of their income on housing, 14% on transportation, and 11% on utilities and household expenses. You may not have a lot of flexibility in your housing or transportation expenses, but categories such as food, entertainment, and home repairs have a lot of wiggle room.

Invest in a Home WarrantyOne of the reasons it's difficult to stick to a household budget is unexpected large expenses. Homeowners' insurance often merely covers the cost of theft or damage to your house, but you can plan for major repairs that come out of the blue with a home warranty. As a type of service contract, home warranties cover repairs for some of your home's major components, such as air conditioning and heating, plumbing, refrigeration, stovetops, dishwashers, and washers and dryers. Instead of paying for a major repair bill out of pocket when something breaks, a home warranty helps you spread the expense through your normal monthly budget, which makes planning much easier. Note that your coverage will be largely based on which company has the best warranty for you.

Spend WiselyAnother important tool during a recession is your ability to make your purchases and investments last a long time. Whether you're buying a new air conditioner or a warranty for your entire home, read product reviews and check the ratings on multiple websites to ensure quality. This goes for refinancing your home in Princeton as well. More than half of online shoppers say they leave reviews for the products they buy at least once a month. That's an enormous source of valuable information for the major purchases you need. A wise purchase can save you money in the long run and help you avoid the stress of replacing a faulty product. 

Don't Just Survive, ThriveEven if a recession lasts longer than two quarters, you can thrive by planning your finances, protecting your property with a home warranty, and doing your research before big purchasing decisions. Through DoughMain Financial Literacy Foundation’s financial literacy resources, you can succeed during an economic downturn.

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Losing a job can be a scary experience for anyone. Faced with the reality of dwindling income, most people don’t know where to turn. Finding ways to make extra money on the side or to replace the income that you have lost as a result of being laid off or due to being underemployed is essential.
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Side gigs are great because they can help you make extra money and give you a sense of purpose. If you’re looking for ways to make money on the side, check out these tips from DoughMain Financial Literacy Foundation.
 
Use Your Talents That You Didn’t Know Were MarketableMany people have talents that they never knew could be marketable. It’s worth exploring what your talents are, as they may lead to work opportunities. What if you’re an artist? Could you design graphics for a company? Could you make or teach music? There’s no reason why not!
 
How to Use Your Talents to Find WorkIf you have certain skills that you didn’t know were marketable before, now is the time to put them to good use. One of the easiest ways to make money on the side is to use talents that you might not know are marketable.  For example, if you’re skilled at making great photos on your phone, then it’s possible that there are companies out there looking for someone to take photos and videos who would be willing to pay you for your services.
Similarly, if you’re a skilled writer, there are plenty of opportunities out there for freelancers who can help businesses market themselves on social media. As a writer, you can develop content for businesses in the form of blog posts, write white papers on company developments, and more.
 
Find Work Helping Businesses Market ThemselvesThere are many businesses out there who want to reach a larger audience but don’t have the time or know how to do it. They may need help with their social media profiles, or they may want someone to write blog posts for them.
If this is something that interests you, put up a profile on a site like Upwork and wait for offers from businesses in need of your skills. This will allow you to find work that suits your schedule without compromising pay!
 
Do Odd Job GigsIf none of those ideas sound right for you, then consider doing odd job gigs. These are jobs where employers post what they need doing, and then people bid on completing the tasks. Some examples include data entry, transcription, editing photos, and even designing logos!
 
Develop New Skills and KnowledgeWhen looking for side work, you may find that there is work you are interested in but you lack the requisite skills or knowledge to qualify for it. This can be discouraging, but instead of letting it demoralize you, use it to propel you to learn more. Returning to or starting college degree work online can significantly boost your knowledge and qualifications for work, anda degree in criminal justice is a great way to give back to the community. Plus, flexible scheduling online means you’ll be able to work while going to school.
 
There are many strategies for finding work when you need to. All it takes is the ability to adapt, along with a little patience. Carefully examine your own skills and interests to match an employer’s needs, or apply yourself to learning new ones.
 
DoughMain Financial Literacy Foundation is a nonprofit dedicated to building a better tomorrow by educating people today, in order to forge a financially literate America. Call 609-751-3300.

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Becoming an entrepreneur is a big decision. Many people have ideas about the type of
business they’d like to start, but if you aren’t sure yet, don’t let that discourage you. There
are some ways to discern what type of business is most suitable for you. By evaluating your
skills honestly, pursuing a business you’re interested in, and being mindful of the
challenges involved, you can succeed.

Here are some tips from DoughMain Financial Literacy Foundation for getting started as an
entrepreneur.

Your Area of Expertise Is a Good Place to Start
The business you’re probably most suited to is the one you’re already knowledgeable
about. Look at your prior work experience as well as any academic achievements you may
have. Even if you aren’t interested in that industry directly, you may have acquired
significant knowledge about related industries. Pursuing entrepreneurship in an industry
you’re familiar with saves you a lot of time that you'd otherwise spend learning about it.

Nonetheless, it’s still preferable to pursue a business related to something you’re
passionate about since you’re more likely to enjoy the work and can weather obstacles
more confidently.

Evaluate All Your Resources
Even if one industry seems most favorable to you, there might be significant barriers to
entry that can prove difficult for you to surmount. Businesses with investment or licensing
costs that are much higher than you can afford or that require specialized education you
don’t have probably aren't good starting points. If you can’t pursue the business of your
choice at first, consider starting a business in an industry with a lower barrier of entry to
use as a stepping stone.

It’s common to have a tight budget when starting a business, which means having to get the
most out of every dollar you spend. Digital marketing via social media is a great way to get
the most for your money, especially with free tools available to support your efforts. A free
online banner creator, for example, can be used to give each of your various social media
profiles a consistent graphical look. You can customize a template with images and text,
plus resize it as necessary, for a great banner to feature on your accounts.

Ask Yourself if the Business Is in Demand
It may not be wise to start a business in an industry that’s highly saturated. If one type of
business is highly common in Texas, you may want to consider trying something else. As a
new business owner, you're less likely to have the experience or resources needed to break
into extremely competitive markets or the advertising dollars required to be noticed. It’s
typically easier to enter a niche market where the business in question is in demand but
not yet oversaturated.

Get Your Paperwork in Order
As an entrepreneur, make sure you’re always legally protected by reducing the liabilities
involved when dealing with customers, the state of New Jersey, or the federal government.
Starting a limited liability company (LLC) is often the simplest and most cost-effective
route for entrepreneurs and offers protection from certain personal liabilities while
yielding some tax benefits. Hiring a formation service or even filing the paperwork yourself
is typically much less expensive than using a lawyer to form your business.

If You Choose the Right Business, It Can Thrive
Being a successful entrepreneur is about hard work as much as strategy, and choosing the
right industry at the right time can be a big determinant of your success. Be honest with
yourself about the resources and time you have available, assess your own capabilities to
make the decision easier, and structure your business as an LLC so that you can take
advantage of legal advantages and tax benefits.

DoughMain Financial Literacy Foundation is a nonprofit dedicated to forging a financially fit
America by providing education to students. For more information, please visit our website or
contact us today!

You're ready to take a little break and get away for a weekend, but you don't want to spend too much on a vacation. After all, your overall and long-term strategy for saving money depends on budgeting and saving now. To this end, DoughMain Financial Literacy Foundation outlines a few ways you can enjoy a weekend trip without breaking the bank.

Choose the Right Destination
If you're on a budget, you must choose the right destination for your weekend trip. You might, for instance, only travel an hour or two away from your home, somewhere you can easily drive. You can still have fun and experience new things, but you'll save on airfare.

You might decide to spend a bit more and fly to your destination, but you can still make choices that fit into your budget. Research the cost of motel rooms and attractions in various cities, and balance those factors against what you'd like to see and do. You might have to make some sacrifices or postpone some activities, but you won't break the bank either.

Find Some Deals on Travel and Even Sports Tickets
Next, Nomadic Matt suggests finding some deals. You can often combine travel expenses, motel rooms, dining, and even admission fees to attractions into one package, thereby saving money on all of them. Spend time on a number of travel websites, experimenting with various packages to come up with the right one at the right price, then book it right away before anything changes. Alternately, you might consult with a travel agent, but be aware that most travel agents charge a fee, and that money must come out of another area in your budget.
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You can also find some great deals on seats at your favorite baseball stadium. For instance, if you’re a big New York Yankees fan, you can score tickets for the Yankees at a deeply discounted rate on sites that sell seats for low or no fees. Check online for tickets and available seats when you’re making travel plans, and pencil in a day for some fun at the ballpark this summer. Don’t forget to budget for a hot dog or two!


Pack Like an Expert
You can also save money on your weekend trip if you pack like an expert. Several days ahead of time, make a list of whatever you need to take on your trip. Include everything from aspirin and sunscreen to snacks. You don't want to have to purchase anything when you arrive at your destination. If you're flying and must check a bag, try to get everything into one suitcase that stays within the carrier's weight and size limits. Check out packing tips online for ideas.

Leave Your Business in Good Hands
If you own a business, you'll want to make sure you're leaving it in good hands while you enjoy your vacation. Even though it may be difficult, delegate some tasks to employees. You know your employees, and you know which ones you can trust to do their jobs well. Honor that, and allow them to take over while you're gone. Follow the rule of thumb that if your employee can do the job 80% as well as you can, go ahead and delegate.

Preserve Your Memories
Finally, preserve memories from your trip. Take plenty of pictures, and share some of them on social media. You can use an online picture resizer to make them easier to upload and view. Don't forget to add some captions, too. 2 Aussie Travellers points out that you can even keep a travel journal. If you're trying to save money, go lightly on the souvenirs and select one special item.

Enjoy Your Weekend
You don't have to spend a lot of money to enjoy a great weekend trip, so start planning – and keep saving. Choose your ideal destination, find some deals, and pack like an expert. You’ll be able to enjoy your short time away without worrying about how it’s going to affect your wallet!
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DoughMain Financial Literacy Foundation builds a better tomorrow by educating students today, so they can contribute to a more financially sustainable community. Reach out to discover more! 609.751.3300