When it comes to insurance, it’s safe to say that it’s a true life saver. Insurance is a safety net there when we need it most. However, it can also be prohibitively expensive for many of us, leaving us without that much needed safety net, and that’s a true shame. No one should be without the peace of mind that an insurance policy provides. The good news is that you have more control that you think. Here are some tips to help you save money for insurance.
First and foremost, you’ll want to set money aside for luxury purchases. For mental health reasons, I wouldn’t recommend doing without luxuries entirely, as we all need our creature comforts. However, we don’t want to let them get in the way of more important things in our lives, like insurance. Therefore, one good way to save money is to simply open a separate checking account for luxury spending, or use a PayPal account, to store a small sliver of each paycheck for such purchases. That way, they never really cut into any one paycheck, allowing you to more easily meet other financial obligations with ease, such as bills and, more importantly in this instance, your insurance premium. For example, if you’ve got your eye on a nice pair of Puma sneakers, you’ll want to save up for a couple months until your luxury account can handle that kind of purchase, instead of splurging with the contents of a single paycheck.
Another important way to save money is to simply look for ways to save. For example, retailers frequently employ cost cutting special offers like sales and coupons to drum up some extra business from customers new and old, and this can allow eagle eyed shoppers to get most, if not all, of their shopping done at HUGE discounts. All you have to do is use Google and Groupon to keep track of your most frequently visited stores and sites and sign up for coupon books from local stores to start raking in savings.