Financial Tips

In this past Boston Sunday Globe’s Business Section, Michelle Singletary writes a book review of Jack Otter’s Worth It … Not Worth It? Simple & Profitable Answers to Life’s Tough Financial Questions.

Within her article she highlights the following practical tips:

New or used car? A car loses a whole lot of value in its first two years of life, and the smart-money move is to let someone else pay that depreciation.”

Buy or lease a car? Buying a car is a better deal than leasing … Leasing a car is like always going to the more expensive restaurant.

Stock or mutual fund? It’s no contest: mutual fund. Reasons not to buy invdividual stocks: The deck is stacked against you.”

Take or decline the rental car insurance? One word: Decline. If you want to be polite, make it, ‘Decline, thank you.’

Term Life insurance or permanent life insurance? You need a term policy. The bottom line is this: Permanent life insurance is a lousy investment for 99 percent of the population.”