Dimples' Divine Domain
My journey to financial empowerment.

Yesterday was my first day at the new job. First three hours were spent at HR going through a benefits presentations and creating my employee file. Benefits Summary: Great medical, dental, and vision plan. Only $120 a month for me and my daughter. Even though I have been used to paying zilch on the medical coverage front, the $120/month is a lot better than I thought. Hit the nail on the head here or way off? The company is only offering 2% towards my 401K and there is no additional match. I think I am going to elect to have 0% of my salary applied to my 401K. There is 2.5 months left on the contract which equates to about 5 paychecks. The company's retirement plan only allows roll overs if the account is more than $1000. Any account below that will be required to cash out. Even if I do the same percentage of contribution I did with my old employer (4%) and plus the 2% from the current employer, $840 max would be contributed to my 401K by the time the contract ends. So I...

Back in August I did a post titled, " Life Insurance - Do I have enough? ". I currently have a 5 year term policy for $50,000. I took the policy out back in December 2002, right after my daughter was born. Back then I felt that $50K was more than enough. Of course back then I didn't even know what a budget was. But after reading a post Single Ma did on life insurance I realized that I was short changing my daughter with my current life insurance policy. That scared the shyt outta me. With all the debt I currently have, my daughter would most likely get NOTHING if, God forbid, something happened to me. I googled and found a ton of life insurance calculators on the web. I used 3 different life insurance calculators from different websites to calculate the amount of life insurance I need. Based on my current financial picture I need between $287K to $345K worth of life insurance. I received a letter from Statefarm, whom I have my life insurance policy with, about 3 d...

Single Ma did a post on life insurance last week. It wasn't until I read it that I realized that I was short changing my daughter with my current life insurance policy. It's kind of scary actually. To think that if something happened to me (God forbid), my daughter would most likely get NOTHING even though I have life insurance. I currently have a 5-year term life insurance policy for $50K. I got the policy a couple of months after my daughter was born. I didn't plan on getting it. I was in the midst of getting car insurance for a used car I just bought and the insurance agent said I would save a lot of money on my car insurance if I had multiple lines. So I took out some renter's insurance and an insurance policy. Only thing I was worried about was getting a policy with a low payment and high payout. And for some reason $50K was huge to me. Needless to say my whole approach on life insurance was sadly misguided. Looking at the debt I had, that policy wouldn...