The Repercussions of a Good Financial Decision

I once read that a person’s life is nothing more then a combination of choices. What professional youselect, who you marry, where you live, all of these decision shape what type of life you will have. Of course not all choices are that big, a majority of or decisions are relatively insignificant in the grand scheme of things. The trick is to focus on the ones that count and try to make the best choice possible. road shotEven something as mundane as car insurance can make a big financial impact down the road.

Last year I received a renewal quote from my insurance company at the time, they wanted $1078 dollars. I was and am a good driver, no recent tickets or accidents and I have a pretty short commute.  I really couldn’t understand why the cost of my insurance was going up every single year. I decided that enough was enough and contacted several insurance companies for competing quotes. In the end Geico was true to their advertising and managed to save me over $370 dollars.

The best part is that those savings occur year after year. My policy is up for renewal and my latest quote was $690.00. From my calculations, my decision to switch insurance companies a year ago has saved me over 1000 dollars! The best part is that it just keeps on going. Would my old policy have come down? Perhaps, but I am almost certain it would not be as low as my current policy. 

An hour of investigating help me make the best choice regarding my insurance. If you haven’t compared quotes you should probably do the same. Reviewing all of your household expenses and trying to find places where you can save money is also advisable. I am in the process of trying to reduce my monthly cell phone bill. As it stand now I am paying over $100 a month. I want to try and shrink that down to $70-80. I will keep you posted about my results. 

1 Comment

Filed under Quality of Life, Saving Money

  • Erika W.

    I just went through looking for homeowner’s insurance. It was amazing to see the difference in some of the companies. One that always markets themselves as selling cheaper to military families was $800 more a year than all the others! Crazy!