7 Easy Ways to Save $100 or More Today

Saving money isn’t hard.

I know, I know — it’s easy to say, but it’s much harder to actually do it. Thankfully, you’re likely spending money on things you don’t need to be, or overpaying for them.

You can save a lot of money making a few small changes — today!

If you do any one of these things, you’re at least $100 closer to saving for a goal.

Adjust Your Insurance Policies
When was the last time you looked at the cost of your insurance policies? Yes, you need to make sure you are adequately covered, but you could be over-insuring — opting for a PPO instead of an HMO, going with a low-deductible plan instead of a high-deductible (if you’re young and healthy), or insuring an old car for full replacement value when it isn’t even worth what you are paying. Savings: $400/year
Evaluate Your Cell Phone Plan
Are you using all of the minutes you’re paying for each month? It’s easy to log in to your account online and see if your minutes are all being used. If not, downgrade your plan and save at least $10/month. Savings: $120/year
Ask For a Better Deal
We’ve talked over and over about getting a price break from your service providers and complaining when the service isn’t up to par. The best part about asking for a discount is that you’re essentially getting the same exact product for less money. Savings: $500/year
Stop Using Your Credit Card, or Pay it Off Each Month
According to Experian, the average balance per open credit card for Americans is $1,157. At an average interest rate of 13.54 percent, not paying it all off each month or not using it all can save a ton of money. Savings: $584
Go Generic on Grocery Products
What’s the biggest difference between name brand and generic products? More often than not, it’s price. When you’re paying for the name brand, you’re likely paying for the company’s marketing bills. Two of my favorite generics: Kirkland products (Costco) and CVS. Savings: $250/year
Use a Tax-Favored Health Accounts (HSA or FSA)
The government has set up tax-favored accounts for paying health bills, including everything from doctor’s visits to over-the-counter ibuprofen. An HSA must be matched with a high-deductible health plan, while an FSA is usually set up with your employer for expenses including child care. Savings: $400/year
Stop Racking Up Bank Fees
Banks are on track to make more than $55 billion in fees this year. $55 billion! These are all the little cheap bank fees you shouldn’t have to pay, like overdrafts, late payments, and minimum balances. Automate your payments, keep a financial cushion and use a no-fee account to save some coin. Savings: $300/year