5. Change up Your Insurance

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Insurance costs might consume a sizable percentage of your earnings. The average yearly house insurance price is approximately $1,300, while the average annual auto insurance rate is a little less than $1,200. Fortunately, there are methods to cut these expenses and free up more money for savings.

One possibility is to raise your deductible. Here’s an example, if you started with a $200 deductible and a $1,200 premium, then moved to a $ 1,000 deductible plan, you may reduce your premium to $720 or less per year.

Many insurance companies also provide premium discounts for good credit, completion of a driver’s education course, or maintaining a clean driving record. You may also save money by having numerous policies with the same insurer, such as your vehicle, house, and life insurance. 

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