- How does it work?
Most usage-based car insurance policies have you plug a small device into your car’s diagnostic port, which is usually under the dashboard. Others use cell phone connections or apps. All of them send information about your driving to your insurer.
- Is it a good deal?
It could lower your premium if you drive safely and don’t drive lots of miles.
- How about my privacy?
There are many privacy issues to consider related to these types of policies.
For more information, click here.
- Ask students to find out if their car insurer offers usage-based insurance.
- Under what circumstance will you consider purchasing usage-based car insurance?
- What might be the purpose of using global positioning systems and other technology in determining the car insurance premiums?
- Will younger drivers embrace the monitoring devices, especially when car chips allow parents to monitor the speed and braking habits of young drivers?
Gas prices have been low for a few years but, it is always good to save a few more dollars!
What if you are in a new city? Gas prices can vary by 10-15 cents per gallon in a matter of a few blocks. How would you know where to find the cheapest gas? Good news! The GasBuddy app can help you find the best prices on the go.
Use this article to help you save gas money near home or away.
Did you know that you can?
- Use apps to find the best prices no matter where you are.
- Get cheaper gas by buying at certain times of day.
- Improve your driving and save gas money.
- Maintain your vehicle and save gas money.
- Get more rewards with your gas prices.
You may want to use the information in this blog post and the original article to
- Stress the importance of saving small and large amounts of money.
- Calculate the miles a sample of students have driven in the past year and multiply by varying amounts saved (5-15 cents per gallon) to demonstrate the dollar savings potential.
The average personal savings, as a percentage of income, in the United States, has averaged about five percent. To calculate your own personal savings rate, take these steps:
- Total your savings for the year, including non-retirement savings, personal retirement contributions, and employer retirement contributions. The amount could be negative if you took on more debt than the total of your savings.
- Determine your total income by adding your take-home pay (after subtracting income taxes) to the amount your employer contributed to your retirement account.
- Calculate the personal savings rate by dividing (1) by (2).
For additional information on personal savings rates, click here.
Also, to see information about savings rates and other statistics, click here.
- Have students calculate their person savings rate.
- Have students interview several people to determine actions that are commonly taken to increase a person’s savings rate.
- What actions might be taken to increase savings?
- Describe financial difficulties that may occur when a person has inadequate savings.