Ask the Readers: A Fool and His Money…

divdiv class=”separator” style=”clear: both; text-align: center;”a href=”http://2.bp.blogspot.com/-UTwbho7E18E/TZjKQZxxIUI/AAAAAAAAAX8/eSjKn9kSum8/s1600/fool.jpg” imageanchor=”1″ style=”margin-left: 1em; margin-right: 1em;”img border=”0″ src=”http://2.bp.blogspot.com/-UTwbho7E18E/TZjKQZxxIUI/AAAAAAAAAX8/eSjKn9kSum8/s1600/fool.jpg” //a/divdiv style=”text-align: center;”ibA fool and his money are soon parted…/b/i/divbr /As I was reading though blogs yesterday, I came across an interesting title and post! iba href=”http://www.getrichslowly.org/blog/2011/04/01/ask-the-readers-a-fool-and-his-money/”A Fool and His Money/a/b/i from a href=”http://www.getrichslowly.org/”Get Rich Slowly/a. It basically asks the readers what have been some of the money mistakes they have made. Dave Ramsey would call it Stupid Tax. I’m sure everyone has a stupid tax story. I have quite a few that it would be hard to choose one. Many of them I’m even embarrassed to mention. The important thing is to blearn /bfrom the money mistakes and ibtry /b/inot to make them again. /divdivbr //divdivHere is my Stupid Tax story:/divdivbr //divdivMy husband was in the military and we were contacted by a company called First Command who ihelped /imilitary families with insurance and investing. We were told by the agent that whole life insurance was the best way to go. We signed up.br /br /nbsp;For bFIVE /byears we paid over $200 a month for whole life insurance. It wasn’t until we found out that whole life insurance is bhorrible /bnbsp;bnbsp;/band agents like to sell it because they get a bigger commission.nbsp;i{Here’s anbsp;a href=”http://www.daveramsey.com/radio/highlights/?urlVars=2010/6/23/Whole-Life-Insurance-Isnt-All-Bad”great audio/anbsp;between Dave and an financial planner disagreeing on whole life}.nbsp;/ibr /br /i/iWe immediately cancelled the whole life insurance and got term life which is about $80 a month and has a larger coverage amount. I was fuming that a company who claims to “help” military families took advantage of us. I was also mad at us because we didn’t research it ourselves and fully understand what we were getting into./divdivbr //divdivbLesson learned/b: If you are going to spend your hard-earned money, don’t just take someone’s word for it. Learn about it yourself before you buy. We do this with everything now! /divdivbr //divdivIf you want to read more Stupid Tax stories and learn from other’s mistakes take a look at a href=”http://www.getrichslowly.org/blog/2011/04/01/ask-the-readers-a-fool-and-his-money/?sms_ss=bloggeramp;at_xt=4d98c5ba712e4da4%2C0″Ask the Readers: A Fool and His Money…/a and read the comments. You may relate to some, but hopefully learn from them./divbr /a href=”http://www.aghdesigns.com/images/blogs/siggy4.png” target=”_blank”img alt=”Anna” border=”0″ src=”http://www.aghdesigns.com/images/blogs/siggy4.png” //a