Feel like your budget is stretched so thin you can no longer afford those little extras that bring you so much pleasure, like your morning cup of coffee or a night at the movies? You can blame it on the current economy. The declining value of the U.S. dollar combined with rising gas prices is pushing up prices for just about everything. While there's little you can do about the outside forces at work, you can take steps to better manage your own money. A good way to start is by taking a long, hard look at where your earnings are going. There are likely places you can cut back without really noticing a change.
* Eliminate non-essential services
These days, just about everyone uses a cell phone as their main line of communication, so why do you still have a landline? If you can't come up with a good answer, like it's necessary for your home's burglar and fire alarm system, or a job you do from home, cancel it. Right there, you can likely experience savings of at least $50 per month.
Same goes for cable or satellite TV. If you don't watch it regularly, the $100 or so you're spending on it every month could be better put to use elsewhere.
* Shop around for auto insurance
Changes are good that no matter what company you're with, you are paying too much. According to The Insurance Information Institute, the rates you're offered for the exact same level of coverage can vary dramatically from company to company due to variances in their operating costs, past claims experience and formula differences, so it pays to shop around.
These days, the Internet makes it easier than ever to comparison shop. You no longer have to spend hours on the phone getting rate quotes from multiple companies to do rate comparisons. All you have to do is log on to the Web site of a company like www.QuoteWizard.com, and free no-obligation quotes will come to you.
To find out how much money you can save by switching companies, simply click here, take a few moments to fill out the simple form which asks for such things as your vehicle information, driving history and the type of policy you need, then sit back and wait. Agents from three or four reputable local insurance companies will contact you with quotes you can compare.
When they call, be sure to have this list of questions in front of you. The answers you get could save you even more:
How much can I save by going with a higher deductible?
Requesting higher deductibles can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage premium by 15 to 30 percent. Going with a $1,000 deductible can save you 40 percent or more. However, keep in mind that you'll need to have the amount of the deductible on hand should something happen to your car.
What kinds of discounts may I be eligible for?
Most insurance companies offer discounts that are easy to qualify for, but they are not automatic. You need to ask for them. Here's a list:
* Multiple vehicles covered.
* No accidents or moving violations for a number of years.
* Insured drivers have recently taken a defensive driving course.
* Drivers are over 50 and retired.
* Young drivers are good students, have taken a driver's education course or are away at college (generally at least 100 miles away).
* Airbags.
* Anti-lock brakes.
* Daytime running lights.
* Anti-theft devices.
Do you offer multi-policy discounts?
Many insurers will give you a discount if you buy two or more types of insurance from them. In addition to automotive, many companies also offer home, business, health and life insurance.
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