This is a link to the thirteenth in an ongoing series billed as 30 Day Challenge to save $1,000 by Ramit Sethi at IWillTeachYouToBeRich.com, his blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship. His series outlines the various ways we can keep money in our pockets.
Today’s tips is to negotiate your car insurance. Most of us pick a rate once, then never go back again. But if you do, you can save hundreds of dollars each year.
As with your cell phone service, first check what coverage you have, what it costs you, and whether you want to change what you have. Then investigate rates for what you need and want — not simply what is offered — with several insurance companies (he gives phone numbers and weblinks for some of the biggest. Ask informed questions (he gives several of the important ones), and negotiate.
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For previous tips: Tip #1: Pack lunches for the rest of the week, Tip #2: Turn your thermostat down 3 degrees, Tip #3: Sell something on eBay today, Tip #4: Involve your friends in your savings challenge, Tip #5: Optimize your cellphone bill, Tip #6: Use gas prices to become your own hedge fund, Tip #7: Create a “No Spending” day once a week, Tip #8: Implement the A La Carte Method, Tip #9: Only buy new things when replacing something old, Tip #10: Use the free rewards from your credit card, car insurance, and workplace, Tip #11: Never pay full retail price for clothes (or eyeglasses) again, Tip #12: How I’m saving $2,000 on eating out in 2009