Saving money doesn’t have to be an all-or-nothing approach. You could cut back on your spending without giving up the things you enjoy.
Being mindful about your finances and making small tweaks could help you save major cash. The best part is you probably won’t even notice a change in your day-to-day life.
Check out these simple and effective ways to cut your expenses.
Revisit Your Auto Insurance Policy
Auto insurance is often one of those once-and-done type of things: once you’ve set it up, you don’t want to be bothered by it again. This is why people often stay with the same insurer for several years at a time.
Big mistake. Re-examining your policy once a year could open you up to possible savings opportunities you wouldn’t otherwise notice. You can save hundreds of dollars by simply comparing auto insurance quotes on an annual basis.
The National Associate of Insurance Commissioner’s website is a great resource to do this. You can find comparative premium quotes based on standard customer profiles within your state’s insurance department.
Other money-saving considerations include raising your deductible in order to lower your premiums, or revaluating whether you really need collision coverage for an older vehicle.
Switch to Store Brands
Generic brands get a bad rap, but they’re often just as good as the more expensive, big name brands you’re used to.
Marketing and advertising costs drive up the price of national brand items, but making the switch to store brands could shave 25 percent off your weekly grocery bill, according to industry experts.
And if you’re concerned about quality, consider this: an increasing number of chains are starting to offer their own line of premium and organic products. This makes it easier than ever to switch brands.
You already know eating healthy and exercising is good for you, but did you know it’s good for your bank account too? The costs of health and life insurance plans for people who are in good health tend to be a lot lower. Additionally, studies show that people who are more fit tend to earn more and get promoted more quickly, according to Psychology Today.
Following these simple rules could help you effectively and painlessly save money without feeling like you’re compromising a thing. Who can’t get onboard with that?
If you would like to learn more about saving money, feel free to stop by a branch or give us a call at 800-835-3400.