January Money Diet Day 29 – Research Major Expenses

Telephone

Photo: Bhaskar Peddhapati Photography

It’s easy to get in a rut with some of the companies and people we spend the most money with – insurance companies, our financial advisors, our tax preparers, internet, cable and phone providers, trash removal service, and so on. Being in the rut could waste hundreds of dollars of potential savings each year, though, which is why it’s a good idea to routinely review major expenses.

When was the last time you compared prices? Call your phone or cable providers and ask about bundling discounts. If your employer offers several health insurance plans, spend thirty minutes reviewing the options to see if you’re getting the best deal. I pay out of pocket for my health insurance, and I use eHealthInsurance to compare plans and rates each year.

If you’ve had the same homeowners’ and auto insurance policies in place for years, you might find a better deal by using an insurance broker who represents many different companies. Maybe your cable company offers a better deal on a land line, or maybe your traditional phone company offers a deal on satellite TV. Companies will often match their competitors’ rates if you ask. (Could you flat-out cancel your cable television?)

Think about it:  if you can reduce even one major expense by doing this exercise, you’ll have more money to invest or pay down debt. Check out the latest deals and see if you can save some money on recurring expenses, and you’ll be way ahead in the year to come.

Today’s Homework Assignment: In the next three days, research alternatives to your major expenses and make sure you’re getting the best deal in those big bills you pay month after month, and year after year. It never hurts to try, right?

Hugs,

The signature for Eliza Cross

About Eliza Cross

Eliza Cross is a full-time writer and the author of a dozen books about food and home design. She has been blogging about simplicity and sustainable living since 2006.

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