The Theory of Decreasing Responsibility

Andre Dobison, a representative for the insurance company Primerica, explains the theory of decreasing responsibility and how it affects a person’s need for a life insurance policy. Andre Dobison has been working with Primerica since 1985 with the mission of helping families become financially independent and debt free.

Simply put, the theory of decreasing responsibility means that breadwinners of young families have the most responsibility to their children and spouses, but as children grow older, these financial responsibilities decrease. The need for life insurance peaks along with these family responsibilities.

For a younger person, less time has passed to accrue savings and wealth, and the likelihood of having large debts, such as a mortgage payment, is higher than for older people. To responsibly protect loved ones, it is important to have a life insurance policy at this crucial time when the death of the primary earner in the family would have serious consequences. As the family ages, the need for this type of insurance lessens as personal wealth and resources typically increase.


Debt Stacking and Financial Freedom, By Andre Dobison

Debt stacking, or making regular and consistent contributions to a group of debts, is an effective approach to eliminating your debt. The practice is most successful when you are frugal and avoid accruing additional debt.

To begin debt stacking, you first order your debts from the lowest balance to the highest, with the aim to pay off the lowest debt first. Decide how much money you will use to pay debts each month. Pay the minimum amount due on each debt, but use the remainder to pay down your lowest debt as much as you can. Once the lowest debt has been paid off, do not change the monthly amount you use to pay your debts. Instead, target the amount you were using to pay off the first debt toward your next lowest debt. When that second debt is paid off, then repeat the process until all your debts are paid off.

About the Author:

Andre Dobison has been a Primerica Representative for 27 years. He is committed to helping families become debt free and financially independent.