Week 2 Car Insurance and Car Loans

THE FAMILY OFFICE
Take a look at your car insurance. If you have paid your car off, make sure there are no lienholders listed on your car insurance paperwork. If you haven't paid your car off, I recommend you get to this right away.

Don't wait for your payment to be due. Make extra payments whenever you get a little extra cash and specify the amount to go to principal only. If you don't specify this, they will count it as an early car payment. If they take it right off the top of the amount you owe (principal) , you will pay off your car sooner and end up paying less interest. If you get out of debt with your car, you will have more money to be generous with others.

Make sure all the information is correct and up to date on your car insurance. Add this to your Family Notebook. It's good to shop around for car insurance every couple of years. You might be able to save a couple hundred dollars for just a few minutes of your time.