Monday, August 12

Cut, cut, cut...

If it doesn't "spark joy", why are you doing it?  Not to steal a phrase from Marie Kondo, but it's true.  We often spend money on things that don't make our lives better.  I've been questioning why I'm spending money on everything lately.  With that, it's cut, cut, cut.

  • After satisfying our 12 month agreement, I called to cancel our Busch Gardens passes.  We were paying $30/month for them, and in the last year we visited once for about two hours.  What a waste.
  • I've been thinking about canceling Netflix for a period of time.  More and more I notice that new movies aren't coming to Netflix.  My queue is loaded with content made by Netflix while noticeably void of movies that actually played in theaters.  Don't get me wrong - overall I love having Netflix.  But it seems like canceling for 90 days or so wouldn't hurt us at all.  We still have Sling and Amazon Prime.  Doing this would save around $50 with basically no consequences.  For now, I'm testing a downgrade.  I changed from the $12.99/mo HD plan for 4 devices to the $8.99/mo standard plan for one device at a time.  It's $4/month in savings... I want to see if we'll notice a difference in video quality.  Canceling altogether is still on the table.
  • I would love to find a way to reduce the cost of the big stuff, but how?  Auto insurance with GEICO - I've had auto insurance for more than 25 years, never filed a claim.  What am I getting for my $100/month besides piece of mind?  Same with health insurance.  I cut that cost down to $379/month this year, but that's still $379 more per month than I spend in actual costs.  I haven't filed a single claim with my insurer.
  • Same goes for the rental properties.  Do I really need termite protection?  What about property insurance - having never filed a claim, the premiums I have paid since becoming a landlord in 2006 could have nearly paid to replace one of my properties.
I'm taking a hard look at all recurring costs.  The immediate benefit, simplifying my finances, is all the motivation I need.  But knowing the money I earn isn't being wasted is just as important.

4 comments:

  1. Traveler's Ins for my car is $700/yr. Friend has same and his is about same cost. With geico do you get safe driver and other discounts?

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    1. Honestly I'm not sure what discounts I get with GEICO. I should check as it's probably time to compare auto insurers again. Florida has higher rates than a lot of places. Fraud is really high here which is part of the reason.

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  2. Years ago when I went into the State Farm office, I told them I needed to have cheaper insurance. I was ushered into the office of the owner of the agency. My insurance came down drastically. I belong to Redstone Federal Credit Union. One day, I received a letter trying to persuade me to change car insurance. I decided to give it a try and over the phone obtained cheaper insurance that I have now.

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    1. Thanks for that, Practical Parsimony. This is convincing me that I need to shop for better rates.

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