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If you have kids, you should make these 5 money moves ASAP

by Diana Bird

MoneyWise Editorial

Family photo in the fall leaves
Harrison Haines / Pexels

For millions of American parents, the last few years have felt like treading water and they haven’t had time — or funds — to plan ahead for their kids’ financial future. Now's the time to try these five ways to boost and secure your savings.

Leave your kids $1 million

It’s an unpleasant thought: How well could your family keep up if something were to happen to you?

Would your partner be able to cover the bills on a single income, or would they have to sell the house? Would your kid lose their chance to go to college?

Good parents take care of their children, but you can do one better by ensuring your family will be cared for even if you’re not around.

Finding the right life insurance can be complicated, but a website called Quotacy takes a lot of the stress out of it. After a 90-second survey, you’ll be presented with a slate of affordable options that fits your family’s needs.

Comparing plans with Quotacy will let you find a great rate that fits your budget. Some customers have found rates as low as $7 a week for a $1 million policy.

In just minutes, you can ensure your loved ones will be protected if the unthinkable happens — and you can’t put a price on peace of mind.

Cut the cost of your car insurance

Any family with a car will tell you it’s an essential tool. And with all the time parents spend behind the wheel, they need to have a great insurance policy.

SmartFinancial is a free online service that can help you find a lower rate in minutes. You might be able to cut your premiums by up to 40% or get a far better policy for the same price.

Just answer a few quick questions, and SmartFinancial will instantly find you the lowest prices in your area.

Comparing is totally free — learn how much you can save today.

Safeguard your home

A strong home insurance policy will help you quickly recover from a big disaster like a fire to a small one like a burst pipe.

Comparing policies will help you see whether you’ve got the right coverage for your family’s evolving needs and, just as importantly, cut the cost of this vital bill.

SmartFinancial’s online service quickly compares quotes to help you find lower rates in your area. It even checks for discounts you may not know about.

If you find a better deal than you’re paying now, make the switch with SmartFinancial to free up cash for those college funds.

Protect your health and your wealth

If you haven’t compared policies in a while, you might be overpaying, have gaps in your coverage or both.

Shopping around for a better policy with SmartFinancial is free and couldn’t be easier.

Just answer a few quick questions and SmartFinancial will quickly analyze your options to find potent protection with affordable rates. The site will even check for little-known wellness discounts.

No one plans to get hurt or get sick, so don’t put it off.

Fight inflation with a recession-resistant investment

Investing in art doesn’t have to cost millions. From lovers of Picasso to Banksy to Warhol, anyone can start adding art to their investment portfolio with as little as $20.

Masterworks is the first company that gives you access to shares of artwork. Curated by their team of professionals, Masterworks allows you to invest in art while avoiding the hard parts of collecting.

Seeing as art is not affected by how financial markets are performing, it’s an investment that offers stability, and may even be a better place to keep your money than a bank.

With Masterworks, you can buy and sell your shares with no commissions or trading fees, and you’ll skip out on those monthly bank account fees, too.

Click here to add some beauty to your portfolio.