This Week’s Money Map:

• 💪 Bet you didn’t know life insurance was this cheap!

• 💰 Get $300 or a new Samsung 43” TV while slashing your internet bill this month

• 🪙 Bonds 101 — Why they’re making waves right now

• 🤑 MG Book Club: Week 1 of I Will Teach You to Be Rich

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💪 I bet you didn’t know life insurance was this cheap!

Think life insurance is expensive? Think again. The reality is that most people wildly overestimate the cost. A recent study found that three out of four Americans believe a term life policy costs three times more than it actually does.

Here’s the truth: A healthy 40-year-old can get a 10-year term policy with $250K in coverage for as little as $12 a month — that’s less than your Netflix subscription!

Why the disconnect? Life insurance feels complicated and morbid, so most people avoid researching it. Another reason — permanent life insurance (which builds cash value but costs 5–15 times more) dominates advertising, skewing our perception of what "typical" costs are.

So, what’s the catch? There isn’t one. You just have to know where to look.

• Term life = best bang for your buck — Skip whole life if you’re just looking for affordable protection. A good rule of thumb is to am for coverage that's 10–12 times your annual income. MoneyGeek’s life insurance quote calculator can help you estimate your premium.

• Buy young, save big — The earlier you lock in a policy, the lower your rates will be. Every year you delay buying typically increases your premium by 4.5–9%. 

• Compare, compare, compare — Shopping around can save you hundreds per year. Get quotes from at least three companies, as rates can vary widely for identical coverage. 

Don't make the same mistake as the 102 million Americans who know they need more life insurance. If you’ve been putting off life insurance because you think it’s pricey, it’s time to look at the facts — that $25 monthly investment could mean leaving your loved ones $500,000 instead of nothing. Sounds like a no-brainer, right?

To learn more, MoneyGeek’s life insurance policy guide will help you easily navigate term vs. whole life, decode fine print, and avoid overpriced insurance plans.

💰 Get $300 or a new Samsung 43” TV while slashing your internet bill this month

Do high internet bills eat into your budget? Providers like T-Mobile and Verizon are offering deals this month that cut costs and throw in extras, like a $300 prepaid card or a free 43” Samsung TV. These promotions make switching a practical move — here’s how to cash in.

T-Mobile’s 5G home internet: Sign up and get $300
T-Mobile’s 5G Home Internet delivers unlimited data and no contracts for $50–70 per month, plus a $35 setup fee. New Amplified or All-In plan customers get a $300 virtual prepaid Mastercard by April 30, 2025. You also score a 15-day free trial and a free Blink Security Package. Check your availability and sign up at T-Mobile’s Home Internet Deals. Pair it with a T-Mobile phone plan to save $10–20 monthly.

Verizon 5G home internet: Score a free 43” Samsung TV 
Verizon’s 5G Home Plus plan starts at $55 per month and includes a free Samsung 43” TV or Meta Quest 3S virtual reality gear if you sign up by April 30, 2025. It’s a no-contract deal with expanding 5G coverage, making it a strong pick for reliable speed. Get the details and sign up at Verizon’s 5G Home Internet page.

Choosing your best internet deal
The right plan depends on your needs. For streaming or gaming, target 250 Mbps or more. For basic use, 100 Mbps works just fine. Unlimited data prevents surprise fees, and no-contract options keep you flexible. Extras like T-Mobile’s $300 card or Verizon’s TV add real value. Confirm coverage and fees online, then call your current provider — it might match these offers to keep you.

Make the switch and save
T-Mobile’s $300 bonus and Verizon’s free gear make these deals stand out — competitive prices with perks you won’t find everywhere.

🪙 Bonds 101: Why they’re making waves right now

Bonds may not sound exciting, but they’re stepping into the spotlight in 2025.

What are they? Bonds are like IOUs — you lend money to a company, city, or the government, and they pay you back with interest over time. For years, bonds lagged behind flashier options like stocks, but as of April 2025, bonds are worth noticing. Let’s break down why they’re gaining traction and what you can do with them.

What’s happening with bonds now?
Bonds are paying more interest than they have in over a decade. For instance, U.S. Treasury bonds — safe loans to the federal government — are offering around 4–5% per year, according to Bloomberg. That’s close to stock returns, but bonds stay calmer. The economy’s been unsteady lately, and bonds act like an anchor when stocks are swinging wildly. Also, if the Federal Reserve cuts interest rates later this year (a possibility experts are watching), bonds you study now could grow in value — similar to grabbing a deal before it heats up.

Why bonds matter
Morningstar data reveals that during recent stock market drops, quality bonds held steady while stocks faltered. Different bonds serve different roles. High-yield bonds offer bigger interest but come with more risk — like lending to a shaky borrower. Municipal bonds, from local governments, skip federal taxes on interest, which helps if taxes bite. Investment-grade corporate bonds from solid companies mix decent payouts with reasonable safety.

Dig in and learn more
Bonds are a key piece of the money puzzle, offering stability worth understanding. You can explore them through bond ETFs or mutual funds on sites like Vanguard or Fidelity, where bundles start at $50–100. Want to see how bonds stack up? Check out MoneyGeek’s investment calculator to estimate returns on fixed-income assets like bonds.

🤑 MG Book Club: Week 1 of I Will Teach You to Be Rich

Feel like your money evaporates each month? Ramit Sethi’s I Will Teach You to Be Rich has the fix. It’s a simple guide to make your money work for you — no fancy finance knowledge needed. Over the next few weeks, we’ll break down key lessons from Sethi’s book.

First up: credit cards — the ultimate tool for savvy spenders.

Why credit cards aren’t the enemy (if you’re smart)
Most personal finance advice paints credit cards as debt traps. But Sethi flips the script — used wisely, they’re a goldmine for perks, points, and credit-building. The catch? Pay your bill in full every month. Miss this, and you’ll drown in 14%+ interest. Nail it, and you’ll unlock:

• Cash back, travel points, and luxury rewards (think free flights or 5-star hotels).

• Extended warranties, rental car insurance, and concierge services.

• A turbo-charged credit score to save thousands on future loans.

The credit score game-changer
Your credit score isn’t just a number — it’s a financial superpower. A high score (700+) slashes interest rates on mortgages, car loans, and more. Sethi shares two quick wins:

1. Check your score: Use MyFico (most accurate) or Credit Karma (free).
2. Boost your utilization rate: Keep balances below 30% of your credit limit.

Optimize your cards in 4 steps

1. Automate payments to avoid late fees and protect your score.

2. Negotiate card fees/APRs. Call your issuer and ask, “Can you waive this annual fee?” or “I’d like a lower interest rate.” It works half of the time!

3. Ditch retail store cards. Choose cash back or travel rewards cards (e.g., Chase Sapphire Reserve) that align with your spending.

4. Check your credit report at least once a year at AnnualCreditReport.com to spot and fix any errors.

Play the long game
Credit cards are just the start. Next week, we’ll tackle banking hacks to ditch fees and earn more interest. Ready to explore top credit card deals? Head to MoneyGeek’s credit card hub for expert credit card comparisons.

Smart Cents gives you actionable tips and mindset shifts to help you reach your financial happy place. Thanks for being a part of our community.

The MoneyGeek Team

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