Your grandfather said it, your father said it…and it’s true. Saving a dollar is in all ways the same as earning a dollar. In some cases saving can mean cutting back on things you enjoy. In other cases, it can be as simple as shopping around a bit. For many people who have a fixed income, making more money can be a difficult proposition. Your next best option is to either budget yourself and cut back on discretionary expenditures, price shop for goods and services you need… or do both!
Where to Save…the Usual Suspects
When price comparing the goal is to make sure you are making a true apple to apples comparison. In other words, you are not giving up service quality but are simply getting that service for a lower rate. In many instances, companies try and position themselves as a “Premium” service provider but the reality is they are selling you the same bill of goods for more money than their competition.
This is a big one. Depending on your needs and driving history you could save $100s per month. When shopping around just make sure your level of coverage quoted is the same with different insurers. Often times you will get a lesser quote thinking you are getting the same policy but, in fact, the cheaper policy does not provide the same level of coverage. We are a big fan of the website RateMuse.com. They seem to have very smart decisioning engine that can help match your needs to the correct issuer.
TV & Internet
TV & Internet providers can offer you great deals to come onboard. Bundling TV, Internet and home phone can also save you some real $. Unfortunately, after a year a two those promotional deals end and your rates skyrocket. Don’t be afraid to switch service providers in this situation.
Coverage is coverage. Don’t be afraid to switch cell phone carriers. They often provide substantial savings over their competition who count on most people having a “set it and forget it mentality”.
Generic vs Brand Name Food and Drug Labels
Many generic brands sold at your grocery and drug store are identical in every possible way to their brand name counterparts. So why are the generics cheaper? Simple, you are not paying for the multi-million dollar branding campaign. The bottom line, go generic when possible.