The Penny Hoarder Issues “Urgent” Alert: 5 Companies Are Overcharging You
You’ve done what you can to cut back your spending.
You brew coffee at home, you don’t walk into Target and you refuse to order avocado toast. (Can you sense my millennial sarcasm there?)
But no matter how cognizant you are of your spending habits, you’re still stuck with those inescapable monthly bills. You know which ones I’m talking about: rent, utilities, cell phone bill, insurance, groceries…
Although we can’t swipe these off the table for you, we can stop you from OVERPAYING them…
1. Car Insurance: Cut Your Bill to $29/Month
How often are you even using your car right now? Regardless, there’s one thing we’re nearly certain of — you’re overpaying on car insurance.
That being said, shopping for car insurance is a pain, which is why we like using a free service like Insurify.
In just a few minutes, you can see if any other companies are offering a cheaper rate with the same coverage and deductibles you already have. People are finding policies for as low as $29 a month.
Enter your zip code here to see how much you can cut from your insurance bill.
2. Life Insurance: Take Back $100s
Oh, to be a millionaire. Look, not all of us have the money to set up trust funds for our loved ones. But you could still give them up to $1 million.
A company called Fabric can help you leave your family up to $1 million in term life insurance, and it can cost less than you might think.
We get it — it’s one more bill, and who has time to sign up? But if you 10 minutes on your hand, you can take advantage of Fabric. You don’t even need to leave your house.
We hear people are paying as little as $14 a month*. (But every year you wait, this gets more expensive.)
It takes just minutes to sign up and see how much life insurance you can leave them — even if you don’t have seven figures in your bank account.
*Coverage Amount is based on eligibility. Sample pricing based on $100,000 in coverage for a 28 year old female in Colorado with excellent health.
3. Credit Cards: Ask This Company to Pay Them Off
If you have credit card debt, you know. The anxiety, the interest rates, the fear you’re never going to escape…
And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.
If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
AmOne won’t make you stand in line or call your bank, either. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could help you pay off your debt years faster.
4. Cell Phone: Get Name-Brand Cell Phone Service For as Little as $20/Month
Here’s one way to get a huge discount on one of your biggest expenses — your cell phone bill — even if you don’t have any fancy insider connections.
It’s a company called Pure TalkUSA, and right now, it’s giving new customers 50% off their first bill. Yep. Pure TalkUSA operates on the AT&T network, so you’ll get access to name-brand coverage without the price tag.
Monthly plans start at $20 a line and include unlimited talk and text.
Making this simple switch could save you at least $70 a month… that’s $840 a year. (To see how much you could cut your bill, use the savings calculator.)
The best part is, you don’t have to sign any binding contracts in (what feels like) blood. Plus, if you’re not thrilled after your first 30 days, you can request a refund.
5. Homeowners Insurance: You Might Be Wasting Hundreds of Dollars
You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy.
This isn’t something you actively think about — you just know you’re required to have it.
The problem is, you’re paying too much. Luckily, an insurance company called Policygenius makes it easy to find out how much you’re overpaying. It finds you cheaper policies and special discounts in minutes.
In fact, it saves users an average of $690 a year — or $57.50 a month. It’ll even help you break up with your old insurance company. (You’re allowed to cancel your policy at any time, and your company should issue you a refund.)
Just answer a few questions about your home to see how much money you’re wasting.
*Investing involves risk.