People come to us with a myriad of financial challenges to overcome, but the most common thing I hear from those who feel most trapped is, "If I only made more money." From John Doe to Barack Obama the answer to every finance problem seems to be more money. The antithesis of this new age progressive paradigm is the lost art of spending less. If you were hoping to find a new strategy that would convince your boss to give you some extra scratch then you won't find that here, but not wanting you to walk away feeling disenchanted, I'm going to share with you a way to give yourself a raise in just five minutes.
We live in a time of epic convenience. Anything you need is just a click away. Stopping for gas with your family in the car can mean coffee, three sodas, and a small grocery shopping excursion inside a place that has a markup of 364% but of course, that's all for another article. The point is that we have very little patience for shopping to find the best deal, especially when it comes to the most boring of topics, insurance.
Let's face it, nothing is less exciting in the financial world than the prospect of paying protection money, but we do it because it's essential and we know it's the best thing for us. We may search and find a great deal at first, but how often do you revisit your insurance plans to make sure they're still competitive in the marketplace? At a minimum you should be doing it once every three years. Most people set it and forget it. It's like lighting cigars with your cash.
One of the places I'm still seeing great savings is home owner's insurance. After the real estate crash, home values were largely devalued nationwide and for the most part have yet to return to their previous values. If all you did was call to have your home appraised for its current value, you should save money on the insurance policy since you'll be insuring a lower value.
Don't feel like dealing with all these problems? An insurance broker will be happy to do it for you. You should be sure you're dealing with a broker and not an agent as a broker's responsibility is to find the best plan for you and the agent's responsibility is to find the best deal for the insurance company. If you phone your insurance professional and spend five minutes discussing your current policy, there's a good chance that person will be able to shop and find you a better deal that still covers your needs. You could end up savings hundreds of dollars a year. Money that when put to work in other areas of your life could bring great value.