Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications about investing, retirement planning, and even how to find the best return on investment. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]MoneyQandA.com. Hank has written over 750 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman. Subscribe To Money Q&A If you want to learn more about taking back control of your money please subscribe to Money Q&A’s RSS feed or via email to receive all the latest articles! You can also subscribe to our Free Weekly Newsletter.

Top Tips to Save Money on Your Water Bill in Your Home

by Hank Coleman

Advantages Of Dividend Reinvestment Plans

If you live in a drought-prone region, such as the American Southwest, you know that water is in short supply. As a result, water is often expensive. And, the more you use equates into the more that you have to pay for this often scarce resource. Do you know how to save on your water bill?

Here are some basic tips to help you save money on your water bill.

Saving Water Inside Your Home

In the home, you can save water in a variety of places. In the kitchen, you should concentrate on saving water. Always use your dishwasher in order to save money on your water bill.

Contrary to popular belief, it actually takes more water to wash dishes by hand than it does to run the dishwasher. And, when you use the dishwasher, do not pre-rinse your dishes. You should simply just scrape and put the plates inside because today’s modern dishwashers are very powerful at removing grime from your plates.

The Dangers of Leasing A Car In Today’s Market

by Hank Coleman

For most people, leasing a car is a bad deal. Once again, I say most people, because there are certain circumstances when it could make sense, but that doesn’t usually apply to individual car buyers. Here are the main dangers of leasing a car in today’s market. Dangers of Leasing a Car Leasing Is More Expensive Than Buying Leasing is more expensive than buying, plain and simple. Your monthly payment may be a lot lower than your car payments if you purchased, but your total payment will be higher. If you plan to buy a car, you should be planning on holding onto it for as long as possible. You should aim for it to either die or be too costly … Read more

Should You Take A Lump Sum Or Monthly Annuity Payments?

by Hank Coleman

Should you take a lump sum or annuity payment?

Should you take a one time lump sum or annuity payment. Should you spread the payment out over the course of many years?

Believe it or not, you may actually get the chance to make a choice like this. And, you need to have all the facts and understand how your choice can affect your family.

Typically, we think of this choice when a new lottery winner is announced. We all tend to daydream about what we would do with a huge lottery win. It’s okay to dream of winning the lottery.

That dream should also includes how you would choose to accept the winning payout. Is a reduced lump sum payment better? Or, should you parcel out your winnings a little bit each year over the course of 20 or 30 years in the form of an annuity?

Now let’s flip this on its ear a little bit. Imagine the same questions with respect to a life insurance payout, your retirement nest egg, private pension plan, or an inheritance. Now, the chance of having to make this tough choice is a lot more realistic and likely than those dreaming of pocketing those lottery millions.

Benefits Of Taking A Lump Sum Payment

Should you take the lump sum or annuity payments over time? A dollar today is worth more than a dollar in the future. This is true thanks to inflation. It is not that a dollar is worth more because a dollar is always worth one dollar.

But, we can buy more things with money today than the same amount will buy us in the future. So, if you had the choice of a million dollars today, inflation alone would make you want to take it as a lump sum. You would not spread it out over years where your buying power will be reduced.

Three Reasons You Should Love Dividend Stocks

by Hank Coleman

I love buying shares of dividend stocks that pay a dividend. Dividends are a great way for companies to give back their earnings to the company’s shareholders. In classic finance theory, a company’s stock share price is derived from the present value of its future income…its dividends. Paid to Wait for Dividend Stock Prices to Increase There have been instances of good companies that have been caught in a value trap, and their stock prices have tread water for years. Microsoft is a great example that immediately comes to mind. Microsoft continued to trade in a very narrow range for years before breaking out earlier this year. But, the one good thing for investors was that Microsoft has initiated a dividend … Read more

When Does Your Frugality Become Unethical?

by Hank Coleman

What’s the meaning of frugal? Can frugality become unethical? Can we take things too far? Where is the line we cross when pinching your pennies is no longer morally acceptable? Are some cases of being frugal borderline illegal too?

Potentially Unethical Frugality

Using your employer’s internet for personal use
Personal phone calls on company time
Personal use of the copy machine
Taking home ink pens, paper, and other office supplies from the office
Eat the free samples more than once at the grocery store instead of a real meal
Taking toilet paper from a restroom
Taking home extras like condiments from a restaurant
Bringing home the extra shampoo and toiletries you don’t use from a hotel – even if you’re living in a hotel

What You Need To Know About Parties And Your Homeowners Insurance Policy

by Hank Coleman

What you need to know about house parties

What You Need To Know About Parties And Your Homeowners Insurance Policy

You may need house party insurance when you're the host.

Your house parties can be extremely fun events. You get to have a bunch of friends over, chat about old times, maybe you have a band, and you do some dancing! However, whenever you have events at your home, you open yourself up to more liability. It can come in many forms, but you need to make sure that you protect yourself from liability.

House Parties Increase Your Liability

By having guests in your home, you expose yourself to liability. This can come in many forms. For example, someone could slip and fall and injure themselves at your home. If you have catering, someone could get food poisoning. Finally, if alcohol is served, you could be liable for injuries even if someone gets injured on their way home because they were driving drunk.