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Recap: Savings Account

Posted on by cvargas

“Do not save what is left after spending; instead spend what is left after saving.” ― Warren Buffett

Do you put some of your household’s money into a savings account every month? You would be surprised by how many Americans aren’t ready for a potential significant loss in income. Approximately 7 in 10 Americans would feel the weight of a loss of income in a month or less.

Most financial experts recommend that a person or family have at least three months’ (and up to six months’) worth of expenses in an interest-earning savings account to be ready for unexpected financial hardships. Savings above and beyond that amount should be in a retirement or investment account.

Check out our full blog post with more information, including detailed explanations of ways you could be saving more of your money, including:

  • Instituting a waiting period to avoid impulse purchases.
  • Tracking spending to identify savings opportunities.
  • Cutting back on unnecessary expenses.
  • Taking advantage of free entertainment in Boston.
  • Reducing or eliminating recurring expenses.

One easy place to save money is on your insurance policies! Call Vargas and Vargas Insurance Agency at 617-298-0655 to ask about how you could lower your insurance payments. While we’re chatting, let us recommend a financial advisor to you. With our help, you could be well on your way to bolstering your savings and being ready for any unexpected future expenses.

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Hosting the Perfect Thanksgiving Dinner

Posted on by cvargas

Thanksgiving is a time for celebration. No two families Thanksgiving festivities are the same, but most consist of some combination of good food and the joy of togetherness. If you’re hosting Thanksgiving dinner for your family (whether that means two or two hundred people) you want it to be perfect. Here are some tips from the Vargas and Vargas Insurance staff on some of the best ways to make Thanksgiving 2018 the best one yet.

Start Preparations Now

Thanksgiving may be more than two weeks away, but that is no excuse for not preparing as much as you can in advance! The most important thing you need to do is make two lists: your guest list and your shopping list.

Choosing your guests can mean the difference between an intimate affair and a huge gathering. When you invite everyone, let them know when you would like to know whether they will commit to coming for dinner – after all, you will need to know how much food to have on hand!

When you choose the dishes you will make, you will need to consider a few things, including what you will ask your guests to bring (if anything) and whether there will be anyone with dietary restrictions or severe food allergies present. Otherwise, you will need to ensure that you have a wide variety of dishes that will please all palates. Many people choose to do a variety of plates with a mix of both traditional dishes and new additions to the Thanksgiving table.

Review Food Safety Tips

Before you even think about dealing with food this Thanksgiving, consider reviewing the basics of food safety – after all, you will be responsible for the continued health of all the people that you host, and the last thing you want is for your guests to get food poisoning!

Thaw the Turkey!

Don’t forget that if you purchase a frozen turkey, you will need to let it thaw fully prior to cooking. According to Butterball’s website, there are two ways to do this. The first is by submerging the wrapped turkey in cold water for 30 minutes per pound of weight. The second is to put the turkey into the fridge ahead of Thanksgiving Day, allowing 1 day of thawing for every 4 pounds of weight.

“Make and Freeze” Foods

Once you have all your recipes picked out and the shopping is done, it’s time to figure out how much of the Thanksgiving meal that you can make ahead of time. You might be surprised at how many things can be made a day or more ahead and then frozen. And they taste just the same when reheated as they did when they were fresh.

Foods that can be made ahead include rolls and even mashed potatoes and gravy. While you’re at it, remember that many ingredients can be chopped and measured ahead of time (think the celery for your stuffing) or made the day before and left on the counter overnight (pumpkin pie).

Before Guests Arrive

When the big day arrives, you’ve undoubtedly got a lot to do. Enlist some help if you can to check the following non-cooking activities off your list. First, make sure that your home (including the walkways outside) are well-lit and free of tripping hazards. You should also make sure that anything fragile is put out of sight, especially if you will have young kids around.

During the Gathering

Oftentimes, hosting Thanksgiving means much more than just serving a meal. People tend to come and hang out for most of the day, so you will need to provide them with entertainment. In addition to putting on some festive music and/or turning on the obligatory football game (the Patriots don’t play until Sunday, but the three Thursday games won’t disappoint), you can also break out family-friendly Thanksgiving-themed games and activities.

After-Party Cleanup

All your guests may have left, but the party isn’t over! You probably still have some cleaning up to do – after all, Thanksgiving tends to be a very messy holiday, especially in the kitchen. Instead of using excessive elbow grease, let tough dishes soak while you do other tasks like taking out the garbage and wiping down the table.

Do you have any more Thanksgiving tips that we missed? Leave a comment and tell us – we would love to hear your cheats, hacks, and secrets for hosting. And, as always, remember that Vargas and Vargas Insurance Agency has all the secrets for the best home insurance in Boston. Call 617-298-0655 before Thanksgiving to make sure that your Massachusetts home insurance policy is ready to protect you and all your guests this holiday season.

Take the time now to do one more thing in preparation for the holidays: program the Vargas and Vargas Insurance 24/7 emergency line into your phone. It is 617-322-5289, and it is the best way to begin an insurance claim outside of our office hours.

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Morning Motivation – Week of October 29, 2018

Posted on by cvargas

Ready for this week’s words of wisdom? Here you go!

For the last several weeks, I have emailed you to discuss the steps that you can take to gain Freedom in your business. For a reminder of my tips, click here.

To recap, here are the three steps to freedom:

  1. Release yourself of tasks you don’t like doing
  2. Release yourself of tasks you don’t know how to do
  3. Release yourself of tasks you feel you shouldn’t be doing

To succeed:

  • Have desire
  • Overcome self-doubt
  • Push out of comfort zone
  • Learn and apply Pareto’s Law
  • Get help by hiring an assistant

Have you been implementing any of my advice into your daily routine? I would love to hear how it has been working for you!

If you need help getting started and want to see how you can do this in your business, let’s set up a strategy session so that I can answer any questions you may have and see if I can help your design your own roadmap.

To do so, click here: https://meetme.so/InsuranceAgencyFreedom

Look out for my email next week, when I will start my next Monday Morning email series all about how to try new things and push your personal limits in order to grow.

Carlos

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Is Motorhome Insurance Mandatory?

Posted on by agentinsure
A lot of families pack up their camper for a road trip during summer. It’s one of the best ways to travel and see the country with your family. But if you own or are considering getting a recreational vehicle, commonly referred to as an RV or a motorhome, you may be confused on whether or not you need a motorhome insurance. When it comes to motorhome insurance, many factors come into play and laws vary from one state to the next. 
 
In Massachusetts, for instance, you will be required to carry valid liability insurance to drive legally. But do you need a separate insurance for your camper or fifth wheel when driving on Massachusetts roads? Well, not necessarily. But the fact that you may not be legally obligated to carry motorhome insurance for your RV doesn’t mean that you shouldn’t. At Vargas & Vargas Insurance in Dorchester MA, we can help you choose a motorhome insurance coverage that makes sense for your situation.
 
When Is Motorhome Insurance Required?
 
One critical factor that comes into play when it comes to deciding whether you need a separate motorhome insurance policy is the class of the RV. There are three major classes of RVs i.e. class A, B, and C. Class A motorhomes include long RVs such as luxury coaches. The small class of recreational vehicles are covered in class B and include camper vans, travel trailers, and cargo van type designs. 
 
Fifth wheels and other vehicles whose camper portions extend over the cab area are in Class C motorhomes. You definitely need a separate motorhome policy if you have a Class A or Class B motorhome. You may also need motorhome insurance if your RV is a rental or if you don’t own it outright. Find the right coverage for your camper or motorhome at Vargas & Vargas Insurance in Dorchester, MA. Give us a call if you need more information on motorhome insurance. 
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Recap: Small Business Winter Tips

Posted on by cvargas

“What good is the warmth of summer, without the cold of winter to give it sweetness. ” – John Steinbeck

Is your Massachusetts small business prepared for the upcoming winter months? As colder weather arrives, look at our blog post with tips on how to keep your business running strong this winter and beyond. Here are just a few of the tips that we offered:

  • Stay on top of snow removal and take precautions to avoid slip and fall accidents in areas where customers and employees walk.
  • Prepare for flu season by stocking up on hand soap, sanitizer, and disinfectant. Encourage sick employees to stay home.
  • Be available for your customers when they need holiday gifts. Offer gift wrapping, gift cards, and other incentives.
  • Introduce your business to new customers by showing off your product at holiday fairs, trade shows, and other local winter events. Look for anything your customers might find interesting.
  • When the weather outside is frightful, stay home and focus on your business’s Social Media presence! Create an account or schedule posts for the accounts that already exist. You could also take the opportunity to get ahead on writing blogs!

And remember, at Vargas and Vargas Insurance Agency we want to help Boston business owners to work more on their business rather than in their business. If you need help with this, or if you need a business insurance quote, call our office at 617-298-0655.

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Savings Account: Critical for Your Financial Success

Posted on by cvargas

Everyone wants to lead a successful life, but that means different things to different people. What does success mean to you? No matter the answer, you will likely need to have some money to get there – even if it’s just to pay for housing and food. In addition to having money to spend, you need to have some money saved… just in case there’s ever a low point in your life where you may need a financial boost.

Let’s face it, you never plan to have financial problems. Thankfully, there are two things that you can do to mitigate your risk. The first, as any Vargas and Vargas Insurance agent will tell you, is to have an up-to-date insurance portfolio. The right insurance can protect your home, your car, and even your health. The second thing that you can do is to have some money saved up for a ‘rainy day.’

Imagine this scenario: the family breadwinner loses their job. How long would you be able to pay your bills while you scrambled to replace the lost income? It is estimated that over 7 in 10 Americans would start to struggle after only one month. In fact, almost half of Americans would notice the deficit in two weeks!

It is recommended that a person have at least three months of expenses saved in case of an emergency. In fact, six months’ worth of expenses is preferred. This will ensure that you are ready for a financial emergency.

Let’s face it – what adult hasn’t ever had a large unforeseen expense (like a car repair or health-related expense)? Sure, most of these will be largely covered by your Massachusetts insurance policies, but you will need to have some money set aside to cover your plan’s deductible.

Consider this also: at what age would you like to retire? Are you saving at a pace that will get you to your goal in time? While it isn’t technically a savings account, a 401k or IRA is a crucial investment for your future and shouldn’t be put off. In fact, it is easy to see when the numbers are crunched that saving a little bit of money early in your life is worth much more than saving a lot later. This is because of the power of compound interest.

Do you feel like you don’t have enough money in your savings account? Here are a few tips to help you save more:

  • Stop making impulse purchases. When you find something that you want, wait at least 24 hours before buying it – you may find that in that time the urge to have it passes and you can put the money into your savings account instead.
  • Track your spending online. Whether you use your bank’s online portal or a safe third-party app, you should be keeping a close eye on your spending and identifying unnecessary expenditures so that similar purchases can be avoided in the future.
  • Identify your biggest area of opportunity. If you want to start saving more of your money, you will need to stop some of your spending. One of the areas where people can easily save is on food and dining. You can save quite a bit of money by buying fresh ingredients and cooking at home rather than going out to eat often.
  • Find free entertainment. Sure, you could spend money on going out, but there are plenty of ways to entertain yourself and your loved ones for free. Look for free events and activities in Boston, or just use something you’ve already bought.
  • Revisit your recurring expenses. Look at your bank account – specifically at your recurring expenses. See if any can be cancelled or parred back. Even your insurance premiums could be lessened. Ask a Vargas and Vargas Insurance agent to find out more.

It’s important to remember, though, that you shouldn’t necessarily have a humongous savings account. While there’s clearly an advantage to having a certain amount of cash available in a liquid form, once you get above a certain amount of savings you should put that money to work for you in investments. If you want some advice on the right threshold for you and your family, or of you have some investing questions, just call Vargas and Vargas Insurance Agency. We can recommend a great financial advisor that will be able to help you.

Are you ready to get yourself on the road to financial readiness? Whether you’re starting from nothing or evaluating your changing financial needs, you’re taking a step in the right direction. If you know of any high school or college students who may not yet realize the importance of having a nest egg, please share this blog post with them. And if you want to ensure that your insurance protection is ready to step in if there is a problem, call Vargas and Vargas Insurance Agency at 617-298-0655 for a free insurance review.

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Morning Motivation – Week of October 22, 2018

Posted on by cvargas

As you know, I try to start every week with some words of wisdom:

I have been talking about doing what makes you money and getting someone else (or don’t do the other tasks) you can read the past messages here.

There is the law called Pareto’s Law, Pareto’s Law goes like this:

  • 80% of effects come from 20% of causes
  • 80% of your income comes from 20% of your efforts
  • 80% of your headaches come from 20% of your clients and referral partners

Important to know so that you are doing the right 20%!

Pretty eye-opening, right?

So the question is, What is the exact 20% of your efforts that are producing the 80% of your income? If you don’t know the answer to that, don’t worry, it’s not your fault.  Most of us have not heard about this before or taken the time to go step by step through this. So that’s what we are going to do right now.

Start putting your focus on the highest leverage activities to grow your business, while keeping these statistics in mind:

  • We aren’t nearly as important as we think we are!
  • Our clients just want what they want, and they want it on time, they don’t care who does it

So, if you’re delegating tasks to your team, which money-making ones should you keep for yourself? Here are some examples. In my business, there are the highest paying activities:

  • Build referral partners that consistently feed your business
  • Office presentations
  • Meeting and deepening relationships with referral partners.

Next week, we will put together the last several week’s worth of messages to recap the Three Steps to Freedom, and how they will help you succeed.

Carlos

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Recap: Holiday Budgeting

Posted on by cvargas

“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.” – William Feather

It’s still pumpkin season, but now is the perfect time to start making plans for the end of the year. The holidays can be expensive, so get a jump on your holiday budgeting by starting now. Check out the following prevalent sources of spending in November and December and see where you can make some adjustments:

  • Decorations – Hold off on buying anything new until after the holiday when everything goes on sale.
  • Entertaining – If you’re hosting a party, make it a potluck to ease the financial burden. When attending, bring affordable hostess gifts.
  • Travel – Make your holiday travel a road trip if you can, otherwise buy plane tickets early.
  • Gifts – Get the most bang for your buck by shopping at Black Friday sales. DIY gifts often cost less than store-bought.

To make some room for more spending, call Vargas and Vargas Insurance Agency at 617-298-0655. Talk to an agent and see if we can save you money on your home insurance or auto insurance policy. Our trained Massachusetts insurance agents can check your existing policy and see if there are any savings that you could be taking advantage of. And make sure that you stay tuned to our blog to get more tips for the upcoming holiday season and the New Year!

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Wintertime Tips for Your Small Business

Posted on by cvargas

Time for “Fun in the Sun” may be over, but that doesn’t mean that you can relax when it comes to your desire to make your business as great as it can be. Here at Vargas and Vargas Insurance Agency, we always say one thing: business owners should always be on (rather than just in) their business. Thankfully, now is the perfect time to cozy up with a blanket and a warm drink and figure out your business’s path to success for the coming winter months.

Here are just a few winter small business tips that you can consider enacting:

Safety First for Employees and Customers

Winter brings its challenges, mostly in the forms of cold weather and snow and ice. When these are present in Massachusetts, make sure that your business does what it can to prevent employees and customers from feeling their effects.

In addition to turning on your heat to take the edge off the chill that could come in from outside, you should be proactive about snow and ice removal. This includes your parking area and walkways to and from the entrances of your building. In addition, place floor mats and wet floor signs in your entry ways to prevent slips and falls due to wet floors.

Avoid Flu Like the Plague

Winter weather is a sign of the emergence of flu season. Help your customers and employees stay healthy with the following tips:

  • Bathrooms should be filled with antibacterial soap and lots of paper towels.
  • Place hand sanitizer around the business, especially in break rooms and any place where money is handled.
  • Have the business cleaned (by employees or professionals) regularly. Make sure that disinfectant is being applied liberally.
  • If an employee does contract the flu, encourage them to stay home and get better, at least until they are no longer contagious – otherwise you will be dealing with an epidemic!

Take Advantage of the Holiday Gift Rush

Very soon, there will be lots of people in the area looking for gifts. If your business offers something worthy of gifting, make sure that you offer it. Stand out from the crowd by offering other perks like gift cards or free giftwrapping. Some businesses even go above and beyond in offering a gift to the customer with purchase. Ask yourself what you can do to stand apart from your competition. After all, people are going to be making purchases – why shouldn’t they be from your business?

Counterbalance Off-Season Slowdowns

Often, businesses see a slowdown in the winter. This is totally normal, especially for restaurants and retail locations where people are less likely to visit because of the cold weather and hazardous conditions. You can offset these slower periods in a variety of ways.

First and foremost, you should be setting aside some of your summer cashflows for wintertime slumps. In addition, you can lower your winter expenses by reducing the number of employees working at once (if possible). You can also call us at Vargas and Vargas Insurance to see if you could save money on your business insurance policy.

Bring Your Business to New Customers

Do you ever wonder what you can do to get your business new customers? The number one reason that people aren’t shopping at your business is because they haven’t heard of you! Combat this problem by getting your business ‘out there.’ This time of year, there are plenty of events that you could be attending to spread the word about who you are and what you do.

Depending on your business’s products, check out local Holiday fairs, wedding expos, trade shows, conferences, and more. There is bound to be some sort of event where you could set up a booth and increase the exposure for your business.

Enhance Your Social Media Presence

Winter blues got you in the mood to cuddle up on the couch with a hot beverage? Don’t worry, you can still help your business from the comfort of your own home. Winter is the perfect season to start up a Social Media presence for your business. Depending on what you do and your customer base, you should consider Facebook, Twitter, Instagram, and Pinterest.

Once you get one (or more) of these Social Media pages up and running, set up an advertisement to people in your neighborhood. It’s a very cost-effective way to spread the word about your business to local customers.

Another thing that you can do is start a blog on your business’s website. This will work wonders in getting your business higher priority in Google searches – which is a key part of attracting younger clients to your business.

For more help as you work on your business, contact the small business insurance experts at Vargas and Vargas Insurance Agency. We can get your business a great Massachusetts commercial insurance policy that won’t overburden your bottom line. Call 617-298-0655 to talk to one of our business insurance agents today.

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Morning Motivation – Week of October 15, 2018

Posted on by cvargas

Let’s start the week with some words of wisdom:

We have been talking about getting freedom in your business, check out last week’s message here.

Step #3: Delegate tasks you feel you shouldn’t be doing

  • Which tasks should you simply never touch—meaning you could eliminate them from your schedule entirely, making way for more important tasks?
  • Which low-level tasks could be easily given to a virtual assistant as part-time work?
  • Which tasks are you handling that could be taken over by a professional who knows exactly what he or she is doing? These are tasks where the potential harm outweighs the cost savings of doing them yourself.
  • Which tasks are stopping you from really focusing on the strategic growth of your business?

Next week, working on the 20% of your business that brings in 80% of your income.

Carlos

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