My wife and I sat down the other night and started mapping out our normal financial budgets for the many areas in our life just to make sure we do not over spend in one area which would leave us short in another area.
This made me think of coming up with a variety of ways to help save some money in some areas so that can be applied in other areas in our budget.
Here are three ways I came up with to start saving some money immediately:
One of the first areas I wanted to tackle, especially if you live in a state like mine where rates are through the roof is car insurance. I came up with three ways you can save money. This first is to shop your policy. There are a number of companies out there today and it is a very competitive market. If you have a good driving record, insurance companies would love to have you. Shop your policy to get the best rates.
The second way is to increase your deductable. A higher deductable on your policy will lower your annual premium in most cases. Contact your insurance company and ask them how much lower your policy will be by increasing your deductable.
The third way is, and this is especially in my case with the company I go through, is to pay your policy semi-annually or in full when it is due at the beginning of the year. Most car insurance companies reduce the amount owed by about 5% if you pay in one lump sum.
Close Your Vents
If there are rooms in your house that you do not use, or do not use that often, consider closing the vents in them. Why cool a room or heat a room when you are not using it.
Reduce Your Cable
Do we really need 250 plus channels of nothing? Have you say their like me with the remote control in hand, flipping through the channels trying to find something? Try this test out for size. Get rid of your cable for 2 months that will automatically save you some money. However, more importantly see if you miss all of those stations or just a select few. When you sign up again for the cable service, now knowing which stations you really missed, only get the package that includes those stations. My weakness is ESPN.
Price Compare Online
With so many websites today that allow you to compare prices between stores, you really should be using them to get the best deals. For instance, yes you might like winning an auction on eBay but are you overpaying for an item that you could have bought on Amazon? Price compare, don’t forget about the shipping charges and then call stores in your area to see if they carry the same item and for how much.
These are just a few of the ways you can start saving money for your family immediately. Throw in some of your own and you can easily be on your way to saving hundreds of dollars per year.