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If youve booked a vacation for your family lately, or sent your kid off on a school-sponsored field trip, youve probably considered trip-cancellation insurance. These offers generally promise to reimburse you for the vacation or field trip if you need to cancel. Are these plans worth the cost? It depends on your own personal risk calculation.

Trip cancellation insurance comes in several flavors. Basic coverage reimburses you if you cant make your trip because of certain reasons, such as if you get sick, a hurricane rakes the island you were going to visit, or terrorists attack your hotel. The insurance covers non-refundable expenses, so if the tour operator cancels your tour and they refund your fee, for example, the insurance does not pay.

The basic coverage also generally provides benefits if your trip is delayed or interrupted. It also pays for lost or delayed baggage, some medical benefits if youre injured during your vacation, and emergency evacuation if something horrible happens during your vacay.

You can add to the basics.

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Tags: Insurance

As efforts continue to impose sanctions on Iran ([1], [2]), I thought it would be helpful to discuss the possible implications of these developments for oil-consuming countries.

The most likely outcome of an embargo on oil purchased from Iran is that the countries participating in the embargo buy less oil from Iran while other countries not participating in the embargo by more oil from Iran ([1], [2]). While this would produce some dislocations, if total world oil production doesn’t change, it would have little effect on either Iran or oil-consuming countries, and would basically be a symbolic gesture.

If instead the embargo is successful in reducing the total amount of oil sold by Iran, then the shortfall for global consumers would have to be met by some combination of increased production elsewhere and oil price increases sufficient to bring down global petroleum demand.

As for the first possibility, there appears to be only a limited amount of excess oil-producing capacity at the moment, and certainly far short of the 4.3 million barrels per day that Iran produced in the first three quarters of 2011.

And for the second possibility, it is useful to draw a comparison with previous episodes in which geopolitical events led to production shortfalls from key producing areas.

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Tags: Oil, Oil Embargo

Did you know the average New Year’s resolution only lasts 6 days? Many resolutions don’t even last that long but there are many resolutions truly worth keeping this new year. One of those resolutions to keep is “living within a budget” and using your budget to plan your future.

I say “living” because using a budget really is a habit you choose. It’s almost like you are determining your culture because you determine where your money goes and how it’s spent when you’re on a budget. That isn’t how things happen for 90% of the people you know (it may be why many of them are broke).

Creating a budget you can live by can be done with a pencil and paper if you want. But if you’d like t

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According to recent information, before long there will be the possibility of Social Networking sites being used to verify how trustworthy you are before agreeing to give you a credit card account or other line of credit.

Social Networking Authentication will use your social networking contacts to confirm that you are who you claim to be by seeking verification from your friends.

In turn you may also be asked to share information about your contacts with online merchants and credit card issuers to confirm their identities as well. This may well be the next step in authentication for merchants who are wary of fraud.

Experts say that participating in social network authentication services offer consumers the added benefits of preventing people from adopting your persona and masquerading as you online.

This is known as e-personation and can often lead to damaging the victims reputation even if it is not used for fraudulent purposes.

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Tags: Networking, Social Networking

Various financial planners offering services recognize the importance of cards for a good financial plan. The most important aspect about those credit cards is paying the rates in time, so you would benefit of the periods with zero interest. The majority of cards have an option of this kind attached to it, and one of the most important responsibilities of the financial planner is to make sure that you pay the rates in time. According to the financial planners, the interests to those cards might be huge, resulting in the impossibility for you to pay the rates in time.

Look for a card with a reduced interest if you are looking to transfer the debts from one month to the other. Make sure you understand the principle of the composed interest and of the supplementary interests that is taken as a commission by the bank over the effective cost of the objects bought with the card. Read full article…

Tags: financial planners