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The 3 Most Painless Ways to Save Money

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Cutting back on your spending and saving money doesn’t always mean having to give up all the things you enjoy. You can continue to go out for drinks with your friends or spend a weekend away with your honey, while still saving a few bucks. There are plenty of areas in our everyday lives where being smart and careful about our finances can yield up some extra dollars.

Here are three effective – and painless – ways to cut your expenses.

1. Cheaper Auto Insurance

Re-examine your auto insurance policy at least once a year for possible savings opportunities. Many people tend to stay with their car insurer for several years at a time, but developing the habit to compare auto insurance quotes annually can help save you hundreds of dollars.

To find a better plan, simply visit the National Associate of Insurance Commissioner’s website, and click on NAIC States and Jurisdictions to find your state’s insurance department. These steps will allow you to find comparative premium quotes based on standard customer profiles.

You may also want to consider raising your deductible in order to lower your premiums, or for an older vehicle you may want to evaluate whether you really need collision coverage.

2. Switch to Store Brands

If you tend to scrunch up your nose at the mention of generic brands, consider this: Most store brand products are often just as good – if not better — than the more expensive, big name brands you’re used to. Making the switch to bargain labels will shave anywhere between 25 to 50 percent off of your weekly grocery bill. And with more chains offering their own line of premium and organic products, making the switch has never been easier.

There are also a variety of surprising ways to save while you’re shopping. Check some of them out here.

3. Get Healthy

Healthy eating and exercising yields much more than the satisfaction of fitting into your skinny jeans. Those who are in good shape tend to save a whole lot of money on individual health insurance and life insurance plans. Additionally, studies show that people who are more fit tend to earn more and get promoted more quickly.

If having that beach body you’ve always wanted wasn’t motivation enough to work out and eat more healthfully, perhaps seeing some extra cash in your bank account will do the trick.

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