As we prepare to turn the January calendar page of a pivotal new year, and a promising new decade, the Web rings out with the sound of financial resolve and reform, not only for government and institutions, but for families and individuals.  In the Internet age, the best financial advice for the months ahead springs not only from a well of good people and word-of-mouth but a rich trove of Blogs and Websites.

Here are some of the New Year’s most respected financial guides, scouts and trailfinders on the best paths to follow in 2010 (including their Twitter handles):

Enemy of Debt ( @EnemyofDebt)

Nothing provides financial security like having an emergency fund in place. This fund is very important to us because having this it will mean that we can move on to two other very important financial goals we have—which will be to fund our retirement with gazelle intensity and fund our children’s college funds. One goal leads to another.

Out of Your Rut ( @OutofYourRut)

Reducing expenses, building savings and paying off debt. We don’t have much in the way of debt, but even a little is irritating (or worse!)

Bible Money Matters ( @MoneyMatters)

My financial resolution for 2010 is to get my financial life a bit more organized, and to practice what I preach on my blog.  Within the past couple months my wife and I found out that we are expecting our first child, and that has really made me realize that I need to practice what I’ve been writing about when it comes to getting life insurance, setting up investment accounts now that we’ve fully funded our 8 month emergency fund, and putting together a set of instructions for my wife in case I were to die or become incapacitated.  Now that we are no longer going to be a dual income with no kids family, it’s time to get organized and motivate!

Green Panda Treehouse ( @Green_Panda)

My goal for 2010 is invest at least $3k into my Roth IRA.

Debt Free Adventure ( @MattJabs)

My top New Year’s Resolution is to pay off all high interest debt and build my Emergency Fund up to $20,000.  While doing this I also hope to accomplish my move to full-time PF blogger before 12/31/2010.

Miranda Marquit – Freelance PF Writer ( @MMarquit)

Refinance the house. Rates are low and we could [get] a 15 year mortgage for a little more than we are paying now, saving us big $$$!

Deliver Away Debt ( @DeliverAwayDebt)

Pay off my 2nd mortgage which totals $24,000. I want to pay it off next in my Snowball because I’m paying 12.75% on the dang thing. That is the highest interest rate of all my debts.

I’m going to follow the 75/25 rule (by Matt Jabs). The 75/25 rule says that 75% of all available debt snowball funds will be put toward the debt snowball. The extra 25% will be used to fund (with CASH) other savings goals. I want to double my Emergency Fund to $2,000, Fund a $1,000 vacation fund, and begin my Wife’s new used car fund.

One Money Design ( @OneMoneyDesign)

This coming year is an exciting one for us. We will become debt free except our mortgage by paying off our final car loan. We are already living out how paying off debt can free up additional money to meet financial goals such as snowballing debt and growing an emergency fund. It has also provided extra resources to allow us to give more when we feel called to do so.

The emergency fund has been a difficult area for our family over the past few years. It seems each year something comes up that uses up much of it. We are grateful this system works as without our emergency savings we’d be facing credit card debt. So in general, the next goal will be building the emergency fund more to the point of further protection.

Change Jar Saving ( @ChangeJarSaving)

Pay off the credit cards!  And have no more bills hanging over my head.

Upper Valley Mom ( @UpperValleyMom)

Move to a envelope system and budget that husband and I can both work with, in order to get some traction.

Being Frugal ( @Lynnae)

Pay off my student loan, because that’s the last of my debt, besides the house.

Ducks and Dollars ( @skduck2003)

Pay off 4 loans (1 auto, 3 student) & increase savings in an effort to reach financial freedom!

Financial Highway ( @MoneyHighway)

We are just changing priorities from saving to paying off Student loan so main goal is to reduce student debt (only debt we have) by 40-45%.

Thrifty App ( @ThriftyApp)

Try something frugal each month that I haven’t been able to bring myself to do.  January=handkerchiefs. We’ll see…

Fiscal Fizzle ( @FiscalFizzle)

At the top for 2010 is getting serious about retirement. It’s been on the backburner for too long and I’m losing time.

Credit Goddess ( @CreditGoddess)

Start a home improvement fund. Bought a house in 2009 & want to make some changes.

Centsible Life ( @CentsibleLife)

My top resolution is to continue to increase our earnings every month. More money=out of debt faster!

Small Steps For Big Change ( @SS4BC)

To be debt free? Why? Well shouldn’t that be evident? =)

Rainy Day Saver ( @RainyDaySaver)

To finish paying off our credit card debt and add extra principal payments to the mortgage.

Kingdom First Mom ( @KingdomFirstMom)

To practice what I preach (use coupons effectively, pay off debt, build savings)

My Money Power ( @myMoneyPower)

My PF Res is to Be Happy.  A positive outlook can make a big impact in your finances. There are studies showing depression leads to spending.

Financial Samurai ( @FinancialSamura)

1) Earn $1 million bucks, 2) Win a minor tournament like the SF Tennis Open, and 3) Meet 36 new people, or 3 a month!

Money Help For Christians ( @MH4C)

This year are goal to save enough extra money each month so we can pay off our mortgage 12 years early.

What Are Your Top Financial Resolution for 2010?

Who doesn’t love a Top 10 List? Especially when it can save you substantial amounts of money and help you protect your family against financial disaster!

Here are the Ten, count ‘em, TEN, top tips on WHY and HOW you should shop for the best in life insurance value.  Think of it as a “T-minus-10 countdown” to your family’s financial security!

1. Don’t wait till you REALLY NEED the coverage! By that time you’ll be that much older, you’ll be sick or you will have encountered a health issue that will cause your premiums to be significantly more than you anticipated. That is of course if you can even qualify for the coverage!

2. The highest financial rating doesn’t necessarily mean better coverage. The important thing is to at least be looking at an “A” rated company. There is little, if any difference between one company’s term policy and another, so basing a decision solely on ratings won’t always get you best deal. The highest rated companies tend to be more conservative in their underwriting and attaining the “best available” with them will be a bit more difficult.

3. Shop online first before (or instead of) meeting individually with an agent! Many online life insurance brokerage companies can be a useful source of information and can save you up to 75% on your premiums. The reason is of course because they are impartial and are not driven to sell you only one company’s product.



4. Pay annually if you can afford it. Paying annually can save you up to 20% with some companies versus monthly, quarterly or semi-annually.

5. Don’t smoke. If you are trying to save money then being a smoker won’t help your cause. However, if you do smoke, most companies will let you re-apply for nonsmoker rates if it has been at least 1 full year from your last usage.

6. If you have cholesterol or blood pressure issues get it controlled with medication. Insurance companies don’t like to see health issues go unattended. If you are doing something to control it they will likely look at that favorably and give you the benefit of the doubt when it comes to approval time.

7.  Buy the right amount of coverage. If you are considering buying $90,000 of coverage, buy $100,000 instead. Many times it will cost less, the same or just a tad more for additional coverage. Insurance companies may give breakpoints at $100,000, $250,000, $500,000, $750,000 and $1,000,000.

8. Read the “Prepare for the Medical Exam” section before completing your exam. Eating a few Twinkies or calling your stockbroker a half hour before your exam will surely turn your lab results sour and cost you big time!

9. Obtaining coverage through your company’s plan may be a good alternative…in the short-run. Many employer’s plans however are not portable and won’t let you continue your coverage if you leave. If you need coverage then, you’ll have to apply for an individual policy anyway. Don’t leave it to your employer to take care of you!

10. Buy at the right time of “your” year. If you’re 30 ½ years old, you’re as old as 31 in the eyes of the insurance company. Most insurance companies round up when determining your age and because premiums increase with age that can make a big difference. So, if you’re approaching 30 ½ and you have thoughts of applying, don’t wait! Get a free life insurance rate quote right now from Efinancial!

Every day through Christmas, Amazon.com is unveiling a new holiday song available to download free for a limited time.

If there’s a new MP3 player on your shopping list, here’s a way to add the gift of music with holiday favorites from an international lineup of recording artists, from Tori Amos to Lady Gaga.

Happy Holidays from our family to yours…from Efinancial!

While there’s still several more hours to go before the sun sets on Cyber Monday, Internet Traffic Auditor Akamai is using its Net Usage Index to monitor North American visitors to 270 online retail sites, and according to CNN, data from earlier in the day already points to a 43% traffic jump when compared to last year at the same time.

We already know that the average online purchase was up by 35% and that overall online sales were up 11% from last year!  While it’s still too early to predict with certainty, consumer confidence appears to be trending UP!

With holiday season now upon us, both brick-and-mortar and click-and-mortar retailers are preparing for what they hope will be the busiest shopping days of the year,

The Friday after Thanksgiving has been branded Black Friday while the Monday after Turkey Day has been dubbed  Cyber Monday. Still, many Internet e-tailers say the season’s top spending days could come much later, between Dec. 5 and Dec. 15.

Due to this year’s roller-coaster economic environment, a longer online holiday promotion period is also expected in order for retailers to try and win every last dollar they can from consumers. Macy’s had already began aggressive advertising this year in mid-November.

We’ve polled some of the Web’s top sites for bargain coupons, sweet as peppermint deals and smart savings strategies to help you make the most of your special shopping days starting with Amazon’s Cyber Monday coupons.

The Fathers of Invention! Mike Riddle came up with the idea for Black-Friday.net after waiting in line outside a Best Buy for hours in 2005 to get a television he saw in a Black Friday circular, only to be told once inside that the television had sold out.  Jon Vincent founded BlackFriday.info in 2005 after demands poured in for information on Black Friday sales at an online coupon site he also runs.

Take A Sneak Preview. If you are interested in checking out a scanned image of the Toys R Us Black Friday sales ad, feel free to click on this link to take a look at them. In order to take advantage of the Black Friday sales rush, Toys R Us is advertising a midnight opening for their Black Friday sales, which will take place at most of the Toys R Us stores starting at midnight on the night of Thanksgiving.

Cyber-Monday sales and coupons are also available to help you plan your online shopping list.  Another “hit list” for letting your computer mouse do the browsing and the buying is this Website.

When shopping online, practice Internet safety. Visit a store’s website at the direct address online.  Type out the URL yourself. Don’t click on links in emails, even if you think the email comes from a mailing list you signed up for.

Never send personal financial information via email such as credit card numbers, Social Security numbers or other sensitive data including logins and passwords. And when you are done with a transaction, completely sign out of your account.

If you can’t handle the thought of credit card increases, or if you can’t afford to pay the credit card in full, use cash.  Some people claim that you’ll spend less money when you use real dollars in place of  plastic.

According to Google Research, some 69% of shoppers plan to purchase gift cards this year.  Those can all be found online.

And don’t forget about the great deals you will find starting AFTER the holidays, on December 26th!

Got a shopping tip to share? Just jingle our bell!

The facts about Life Insurance Settlements are not well known to a great many policy holders. Just what is a Life Settlement anyway?

Simply put, a Life Settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit.

Such a transaction is usually undertaken by those later in life for the purposes of estate or financial planning. Indeed, the redemption of a policy can put an additional financial option in the hands of American consumers at a time when they may need it most.  But don’t expect your insurance company to fully advise you about your choices. The counsel of a trusted financial advisor, or an independent insurance agent can be helpful in suggesting your alternatives.

Why would cashing out a Life Insurance policy make sense? It really comes down to time and opportunity cost.

A policy may no longer be needed or wanted. As the Life Insurance Settlement Association points out, as circumstances change over time, so do insurance needs.  Perhaps a spouse or another beneficiary for whom the policy was purchased is now deceased. Or, other policies may  prove adequate to cover an insured person’s original goals.

With dramatic changes in insurance products and services in recent years,  there could also be an opportunity to obtain a superior policy in place of a current one.

Other reasons for abandoning a life insurance policy could be changes in estate planning needs, or mounting financial concerns where the existing premiums for a policy no longer make budgetary sense compared to the cash value the policy may realize in the here and now.

When life insurance companies do not present a viable exit strategy, or offer a slim percentage surrender option, consumers may want to look elsewhere to divest their policies.

Life Settlement transactions are regulated in 34 states and in the territory of Puerto Rico. To find out more information about Life Settlements and about regulation in your state, visit the Life Insurance Settlement Association.

An often overlooked form of insurance that’s been around as long as banks have been lending money to businesses is key-person insurance. If you own a business or have investors, key-person insurance could be one of the most important keys to your business longevity.

Key-person insurance is the same as ordinary life insurance, except that the employer buys, owns, and is the beneficiary of the policy. Most companies have at least one employee who is key to the success of the business. Usually it’s the owner, a partner, a majority stockholder, or someone with a high level of expertise.  The loss or death of that person could mean financial ruin for the company.

Premiums for key-person insurance are based on a variety of factors, including age, physical condition, and health history of the key person, as well as the amount of coverage. Before purchasing key-person life insurance, a business owner should answer the following:

* What is the value of your key employees? It may be difficult to estimate the value of an irreplaceable employee, but it is a valuation that is necessary to determine if you need to purchase key-person insurance and the amount of coverage you’ll need. Consider factors such as projects that would be lost if the employee were no longer with the company, the amount of sales generated by the key employee, and the costs associated with replacing the employee.

* Is separate key-person insurance necessary? Credit insurance is one way to cover outstanding loans and debts. If you already have a credit-insurance policy, key-person insurance could be superfluous.

* Do you have a business-continuation plan? Creating a plan that outlines how your business will survive a disaster is key in determining what type of insurance protection you need. An insurer will require that you have a business-continuation plan before they’ll sell you key-person insurance.

It seems so simple, you would think it would be perfectly obvious. Online “information processing” is, practically speaking, what the Internet was invented for. The Web is tailor-made for shopping for the best insurance policy. Where else can you plug-in a few details and, within a few seconds, have your request rocketing across the Web on its way to a variety of insurance underwriters, each competing for your business? Then, with no pressure and with complete privacy, you get to make a sensible financial decision from the comfort of your desk chair or couch.

Here’s why the online insurance quote is the better idea whose time has come.

1. One application. Multiple bidders. Online makes you a kind of savvy broadcaster. You broadcast the fact that you are in the market for, say, life insurance. The insurance companies who are listening for your broadcast are tuned in to your frequency and respond with a matching quote in return. Now that’s good reception. No static at all.

2. The lowest price. Who doesn’t want to get to the bottom line, and fast?  Talk is not cheap when it takes hours to get a straight answer. Online is simply the least expensive and the premium you will be quoted will be the lowest, plain and simple. Since online is the most efficient channel for user direct, point-to-point communication, the savings are baked right in. Insurance companies know you are looking for a low price, not a visit from a salesman. Online cuts costs to the quick.

3. Your needs, not theirs. Ever hear the term “longtail” search in relation to Internet product inventory? It means you can find the exact merchandise in the precise size, color, texture and features you are most interested in. In a word, it’s called “Better Selection.” Online you can find just what you’re looking for.

4. Answers to your questions. There is also no shortage of information online. So you can find the frequently asked questions and the instant answers you want to almost any topic you have in mind. There are even online insurance calculators to help you pinpoint how much coverage you will need.

5. Full-service. Instead of just one line of insurance, from one company, at one price, the best online insurance company offers you choices when it comes to your other insurance needs. Auto, health, homeowners, renters, business, you’ll get the referrals you need. If they can’t help you with every form of insurance, they will tell you who can.

What’s been your experience with online insurance shopping?

We get some important questions at Efinancialblog.com about saving readers money.  One such query regarded the “Return on Premium Term Life Insurance” or ROP for short. What is it and should I be concerned about it, or even buy it where available?  In this case, an excellent answer has been provided across the blogosphere by Certified Financial Planner Jeff Rose and his blog “GoodFinancialCents.com.”

Jeff writes about how a young business owner client inquired about purchasing a term life insurance policy to provide financial security to his wife and young child in the event of his unexpected passing.  A term life policy makes total sense for his situation, but what he wanted to add is something called a return of premium rider.

For those who are not familiar, the return of premium rider allows the policy holder to get a full refund of all the premiums paid at the end of the contract.  At first, it sounds like a pretty good deal.  The most common complaint that consumers have with life insurance is that if you don’t die, all the money goes directly to the insurance company.  If this is the case, then purchasing the return of premium rider seems totally worth it. Or is it?

No Brainer or Break Out the Calculator?

As Jeff points out, at first glance the return of premium rider seems like a no-brainer.  He writes “One piece of information that you need to know is that the rider comes with a price. The ROP rider on average will run 20%-40% higher than purchase a policy without it.  In addition, you have to keep the policy for the entire contract period to get a full refund of your premium.  The bigger question is the central one: Does it make sense to pay more for the rider since you know you’re getting all your premiums back?”  Let’s take a closer look….

More Math: ROP Rider vs. Regular Term Insurance

To illustrate the cost difference between purchasing regular term insurance vs. one with the ROP ride, Jeff ran a test for a 30 year old male, assuming he was in excellent health.  We’ll examine a quote on a 30 year term life policy with a $1,000,000 face value. Without the ROP rider, the annual premium will cost approximately, $720 per year for a total of $21,6000 premiums paid over the 30 year period. By adding the ROP rider, the premium jumps to $1,180 per year, for a total outlay of $35,400.  That’s a total difference of $13,800 premiums paid ($460 per year) or a 63.88% increase.

If we take the difference of $460 per year and invest it and average 6% over the 30 year period, you will have accumulated $36,366 over the 30 year period.  Subtract the $21,600 you paid in premiums over that period and your net amount is $14,766.  As you can see in this example, purchasing the ROP rider seems to make sense.  But wait — what happens if  we average an 8% return?

If we are able to average 8% return over that same period, we accumulate a total of $52,110 and after subtracting the premiums were left with $30,500.   Compare that to the $35,400 we would get back with the ROP rider, and we’re still in the red.   If we can average closer to 10% return, then we have a greater chance for the normal policy to be more economically viable.

Getting Smart: The Other Important Considerations

The scenarios Jeff ran were different than what he had predicted.  However, when he analyzed the cost differential, he was relying on a few big assumption. First, that the  person could afford to pay the higher premium. Secondly, that the erson will keep the policy for the entire 30 year period. Finally, that the the cost of insurance won’t decrease.

When Does Purchasing ROP Rider Make Sense?

Typically, you wouldn’t purchase ROP on policy as long term, as 30 years.  Where it is more common is with term polices of  10 to 15 year in length.  With such a shorter time horizon, the ROP makes more economic sense.

Would an ROP rider make sense for you? Is this something the insurance industry should take into account when designing new life insurance products?

If you had a choice between thinking about life insurance or entering a photo contest with the chance to win great prizes, which would you choose? Okay, don’t answer that. But what if you could do both at the same time? In conjunction with the beginning of Life Insurance Awareness Month, the nonprofit LIFE Foundation has kicked off the “Wonders of Life” Photo Contest to provide Americans with a fun way to get them thinking about their life insurance needs.

Throughout September, Americans are encouraged to visit www.wondersoflife.org and upload a photograph that captures a wondrous moment in the life of their family, the kind of moment that life insurance can preserve.

“People want the very best for their loved ones and work hard to provide them with a comfortable lifestyle and every opportunity to experience the wondrous moments that life has to offer,” said Marvin H. Feldman, CLU, ChFC, RFC, president and CEO of LIFE. “But people need to think about what would happen to their loved ones’ quality of life if something were to happen to them. We hope that our contest will help Americans realize how life insurance can help preserve all that they’ve worked so hard to achieve.”

The grand prize winner will receive a Canon T1i, 12.2-Megapixel Digital SLR Camera. Five runners-up will win $150 gift cards to BestBuy.com. LIFE will announce the winners of the “Wonders of Life” Photo Contest on or around November 18, 2009 and feature winning photos on its website. The deadline to enter is September 30, 2009. Entrants must be 18 years or older.

To view the ‘Wonders of Life” video, visit the following link.  And remember: Efinancial can help you shop for affordable life insurance from more of America’s top life insurance companies, all in one easy free life insurance quote.