Vacation season is almost upon us and, for many Americans who haven’t traveled abroad in several years, their vacations have been years in planning. However, even the best laid plans can quickly come unraveled if you don’t take some extra measures to ensure that your finances are protected before you leave on your trip.
When people warn you that having kids is expensive, it’s no joke. From diapers to food, braces to sports activities the costs add up quick. For a middle-income family in the U.S. raising a child up until age 18, costs an estimated average of $245,340 (or $304,480, adjusted for projected inflation), according to the 2013 “Cost of Raising a Child” report from the U.S.
The term beneficiary crops up every now and again. Usually you’ll see it on an insurance form or hear about it in relation to a will, but despite the nonchalance we toss the term around with, beneficiaries are incredibly important. Let’s break down the details on how and why beneficiaries matter.