Earlier this year I decided to take a look at my bills and make a real effort to reduce any that I could. The word to focus on in that sentence is EFFORT.
This is something that I should have done a long time ago, this is something that everyone should do…but this little thing called life gets in the way. After just barely making it through a day the last thing that I am usually thinking about is calling a company to question, research and change my bills. Besides, by the time I get home these places are usually closed. This means I have to schedule time during my work day to deal with more work…??? I’ll pass!
BUT (there’s always a BUT isn’t there?) … sometimes you just gotta get over that hump, and JUST DO IT! Although it takes some extra effort this is not something to procrastinate on. You can get your bills lowered and you will relieved and happy at the end of the day.
I wanted to share with you the bills that I focused on and got lowered. It did take some phone calls, some discussions, some decisions, and some finalization but it was oh so worth it.
I zeroed in on three bills and here are my savings:
- Homeowner’s Insurance BEFORE: $1,550.00/year AFTER: $1,250.00 SAVINGS: $300.00
- Car Insurance BEFORE: $1,200.00/year AFTER: $660.00 SAVINGS: $540.00
- Mortgage BEFORE: $11,220.00/year AFTER: $7,848.00 SAVINGS: $3,372.00
That is a whopping savings of $4,212.00 per year!!
I started this mini project with the Homeowners insurance. Every year I noticed it was rising and rising and I always meant to call but of course never did. When I finally did it didn’t take much to run the new numbers. I also reached out to another insurance provider for a comparison.
Both of those conversations naturally led to my car insurance. With that bill being next on my list this was like a two for one savings deal. As you can probably guess by combining my car and homeowners insurance I was able to get a pretty good discount for both. To take it even further I signed up for e-statements for another small discount and decided to pay my car insurance premium in full which gives another discount. I ended up staying with my current homeowner insurance provider and moving my car insurance to them as well. At the end of the day I just had to go in and sign a couple of documents. Not too big of a deal.
My big bill saver came from refinancing my mortgage. I wrote a post about this one because I did the refinance using the HARP Program. Same as with my homeowner’s insurance, my mortgage payment was steadily rising every year due to a) the homeowners insurance increasing and b) there was craziness going on with the property taxes for a few years. My mortgage had creeped up to $935.00 over the course of 9 years. I couldn’t take it anymore and looked into refinancing. Interest rates are still low (who knows how long that will last) right now and if you can it is worth looking into possibly refinancing. My mortgage payment is now $654.00.
For not feeling like putting in the EFFORT into looking into these bills it was most certainly worth every 421,200 pennies that I did. LOL!
Next on the bill saving agenda… CABLE!
What bills have you cut? I’d love to hear about them!
BTW – My title was inspired but the song “Cut it” but O.T Genasis. Do you know it? Now sing the title. 🙂 Catchy right?