Vargas & Vargas Insurance

1133 Washington St
Dorchester, MA 02124

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How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need

If you want to protect your loved ones in the event of your unexpected passing, a great way to do so is with a life insurance policy. Once you realize that you need this coverage, though, it can be a momentous task to try to determine exactly how much coverage you should purchase. Instead of agonizing over this issue, call your insurance agent! They will help you determine the right amount of coverage for your needs, including the following considerations:

Make sure that you leave enough behind to support those people that depend on you financially. Your life insurance policy should leave enough support for spouses and/or parents that you support, as well as enough to support children until they are able to be financially independent.

If you currently have any outstanding debt, you should probably have enough life insurance to clear it in the event of your death. A life insurance professional can help you determine which debts you should cover, but generally speaking you want to consider covering credit card debt, student loans, car loans, and mortgages.

Let’s face it – death is expensive. Make sure that you include some money in your life insurance to cover your final expenses for a funeral and burial, which could exceed $10,000. This should also include an earmarked amount to cover any estate taxes that will be incurred upon your passing.

You will also need to include any future obligations in your whole or term life insurance policy. If you want to cover your child’s college education, or want your spouse to be able to take a vacation after you pass away, this should be accounted for when determining your life insurance policy’s payout value.

In addition to being covered for all of the above, you should make sure to call and speak with your Massachusetts insurance agent if your financial situation changes, because it could affect the amount of life insurance coverage that you need. Specifically, the following situations typically require a life insurance coverage adjustment:

A change in marital status – either a marriage or a divorce will change your life insurance needs.

The birth of a child – you should probably increase your life insurance policy to cover the child until their 18th birthday, and adjust this coverage down every couple of years until they are grown.

You take on debt – as we mentioned, your life insurance should cover your debts, so let your agent know if you buy a home or a car. You may also want to increase your coverage if your credit card debt increases. Conversely, if you pay off a significant debt, you can decrease your coverage proportionally.

Retirement – the majority of life insurance coverage is meant to replace your income if you pass away. When you retire (and therefore no longer have an income) you no longer need this coverage, and your policy should be adjusted accordingly. Make sure, though, that you still have coverage for death expenses and debts.

If you’re ready to talk to one of the best insurance agents in Massachusetts, just call Vargas and Vargas Insurance Agency at 617-298-0655. We will be able to evaluate your financial situation and get you the perfect life insurance quote for your needs.

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Best Apps for Setting a Budget

Best Apps for Setting a Budget

Everyone needs a good budget. You should be able to quickly determine how much you’re earning, how much you’re spending, and how much you’re saving. In the olden days, this was done with pen and paper. Then technology emerged and spreadsheet software became the best way for setting a budget. Nowadays, great budgeting tools are only a few taps away. Check out some of the following apps that will help you set (and stick to) a budget. All are available on both Android and iOS. Most are even free!

Level Money

This app syncs with your bank and credit cards, and then shows an easy-to-read infographic of how much money you may spend for the day, week, and month. Overall, it is a very simple and easy to use app, with very little customization needed.

level money

You Need a Budget

One of the best apps with a website counterparts, You Need a Budget allows users to input their income and expenses so that their available budget is available on the go. This app also allows you to see exactly how much of your budget is available in several different categories, including groceries, restaurants, business expenses, and more.

iphone-budget

Spendee

If you’re looking for an app that can help with your budget and also help you keep records of your bills and receipts, look no further than Spendee. For less than $2, this app allows you to see all of your expenses in their attractive interface, and also keep track of your bills and receipts by taking pictures of them and storing them within the app.

spendee app

Goodbudget

Have you ever heard of envelope budgeting? It’s a simple budgeting technique where you take out a certain amount of cash from each paycheck, and split that cash into several envelopes labeled with categories. The challenge is to use the envelope’s cash until you get paid again. Setting a specific budget per category is often helpful for people looking to budget, and it’s exactly what this app does!

system2

Mint.com Personal Finance

Arguably one of the most powerful budgeting tools currently available, Mint.com is a web tool with an great app counterpart. If you’re looking for a one stop shop for all of your budgeting needs, you may want to check out Mint – just be aware that to access all of its tools, you will need to give it access to your online banking accounts. But don’t fear, the information is kept safe. Once your account is set up, you will be able to budget and then keep track of all of your finances (including debit accounts, credit accounts, outstanding loans, and more) in one place!

mint personal finance

Will you be using any of these budgeting apps to help in setting a budget this year? If you do try one of these apps, let us know what you think of it! And remember that Vargas and Vargas Insurance Agency could help you lower your ‘Insurance’ budget with one quick call to 617-298-0655! Speak to one of our friendly and knowledgeable agents about how to lower your Dorchester home insurance, or your Boston auto insurance.

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A Clean Kitchen: Top to Bottom

A Clean Kitchen - Top to Bottom

The kitchen is an essential room in every home. It is where meals are made and eaten, and where the family connects after a busy day. All of this use unfortunately means that there will also be a lot of messes made in the kitchen. If it’s time that you gave your kitchen a thorough cleaning, here are a few tips that you can use to help get the busiest room of your home sparkling in no time:

Step 1: De-clutter!

The first step in cleaning any room is to get all of that clutter out! Anything that doesn’t belong in your kitchen should be moved to its proper place, or (at the very least) put in a ‘Lost and Found’ box. At this point, your kitchen should already be feeling a little more organized, but you’re not nearly done yet. This cleaning may take a little while, but it will make sure that you’re ready for company, or just make sure that your kitchen gets a good deep clean once in a while.

Step 2: Dust and scrub all surfaces.

Get out your rags and dust mops and make sure that all of your kitchen surfaces sparkle. Just remember to work from top to bottom – gravity will bring dust and grime down, so starting at the top will ensure that you’re not doing double work for no good reason. We recommend dusting the area above your cabinets, then the top of the fridge, and move on to your countertops before cleaning barstools and other seats.

Step 3: Remember the fridge!

It’s a big job, but your refrigerator needs a good deep cleaning occasionally. Take out all of the food (it helps if you check all of the expiration dates while you take things out) and place them on an empty counter. Once the fridge is bare, wipe down all surfaces inside before replacing everything. Anything that touches food directly (like your vegetable drawer) should get extra attention, and an extra hot bath to kill any potential germs.

Step 4: Clean the other appliances.

Once the fridge is sparking (and free of any questionable foods) take the time to clean your other appliances. Run a vinegar cycle in your empty dishwasher, microwave a cup of water to steam off any stuck-on foods, and use a combination of baking soda and vinegar to clean stubborn stains off of your oven without harsh chemicals.

Step 5: Wash the floor last.

Again, dirt and grime will travel under the influence of gravity. This means that any stray dirt that escaped your grasp during the cleaning process will end up on the floor. This is why the floor should always be the last thing that you clean. Vacuum up any debris, then disinfect with your floor cleaner of choice, whether it’s a traditional mop and bucket or a new sweeper with disposable pads.

Once your kitchen is clean, take a load off and clean up your Dorchester home insurance policy! Just call 617-298-0655 to speak with a Vargas and Vargas Insurance agent about making sure that you have enough coverage for you and your family.

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