Monthly Archives: November 2024

Nov 23 2024

Do you have enough home insurance?

Could you rebuild if a tornado or fire destroys your home? Some experts say half of all homes may not have enough insurance. Here are tips to make sure you have the right amount of coverage.

1.    Find out what it would cost to rebuild your home.

This is not the same as the real estate price, or market value. The rebuilding cost is based on what kind of home you have and local construction costs. The rebuilding cost is sometimes called replacement cost. Your insurance agent can help find out your rebuilding cost.

2.    Your insurance coverage should match the rebuilding cost.

You can find your policy limits on the front page of the policy or ask your agent. If the amount is lower than the estimate to rebuild, you may need to make changes.

3.    Check your insurance coverage regularly.

Check your coverage when you renew your policy each year. You should also talk to your insurance agent if you remodel or make upgrades. A new deck, garage, or kitchen can increase the cost to rebuild

For more information, click here.

Teaching Suggestions:

  • Have students research special types of property and liability insurance.
  • Have students talk to an insurance agent or claim adjustor to determine the type of documentation required for a claim settlement.
  • Ask students to obtain additional information on home insurance from the Insurance Information Institute or other online sources.

Discussion Questions:

  1. Why is it important to check your insurance coverage regularly?
  2. What type of insurance coverage is more important, property or liability?  Explain.
Nov 9 2024

EXTREME COUPONING

With high and increasing grocery costs, coupons can save you money. Extreme couponing involves going beyond an ordinary clipping of coupons to create a plan to use coupons from multiple sources to maximize savings.

To take advantage of these savings, consider these actions:

  • Know the main coupon types. Retailer coupons may only be used at the store for which they were issued. Manufacturer coupons are issued for use when buying the product of a specific company. Try to use both types for one purchase for items on sale to achieve the greatest savings.
  • Locate coupons. In addition to traditional coupon sources (newspaper inserts, in-store flyers, store receipts, in the mail, on product packages, local coupon books), obtain coupons through apps, websites, email promotions, and loyalty, and frequent buyer programs.
  • Be aware of store policies. As you plan a coupon strategy, check for any retailer restrictions, such as the number of the same type of coupon you can use per day or if they accept competitor coupons.
  • Organize your coupons. An extreme couponing strategy requires time, effort, and planning. Review your shopping list and identify the stores where you would get the best deal on each item. You may plan a different shopping list for different stores. Sort coupons based on expiration dates. A digital coupon may allow use of the same coupon multiple times at different stores or on different dates.

Be sure to avoid two common couponing mistakes: (1) Compare prices at various stores and brands; the store brand of an item may give you a better value than a name brand item with a coupon. (2) Don’t buy things you don’t need or won’t use just because you have a coupon; use a shopping list to stay within your budget.

In addition to coupons, apps available to save money when shopping include:

  • Ibotta provides cashback offers on selected products.
  • Fetch earns points that are redeemable for gift cards.
  • PayPal Honey offers discounts when making online purchases.
  • RetailMeNot has cashback offers when shopping at over 1,200 retailers.
  • Groupon offers discounts on various services, attractions, and activities.
  • Capital One Shopping provides price alerts, coupons, and price comparisons.
  • Krazy Coupon Lady allows access to many coupon sources and current best deals.

For additional information on extreme couponing, go to:

Link #1

Link #2

Teaching Suggestions

  • Have students talk to others who have used coupons to obtain suggested wise shopping tips.
  • Have students create a visual proposal (poster, slides, video) with coupon shopping ideas and other wise buying tips.

Discussion Questions 

  1. What are the benefits and drawbacks of using an extreme couponing strategy?

In addition to coupons, what are some shopping actions for saving money?