Comments (scroll down to add your own):

1. We tried the single-insurer thing, but State Farm (which holds our homeowner’s policy) cancelled our car insurance…and when we went shopping around, we found out that GEICO is going to charge us a bit more than HALF what State Farm did, for the same coverage.

   So while multipolicy discounts do help sometimes and are always worth keeping in mind, it still pays to shop around.

   Comment by Matt — Jan 16th 2007 @ 12:01 am

2. if you buy lots of stuff at a particular store, it is worth getting the store card. Some higher end have special cards that rack up points much faster and worth more than your standard cash back or rebate cards.

   when you do dump credit cards, keep your longest held cards, though, over newly acquired cards. i think another blogger had wrote about it’s not necessarily the number of cards held that will affect FICO score. keeping track is simple if your bank allows you to input all your accounts. Mine are all electronic and I can see balances through my online bank account.

   Comment by Tim — Feb 3rd 2007 @ 2:02 pm

3. 0% balance transfer is a very good option. I transferred a nasty 17% auto loan, or what was left of it after my divorce, to a 0% and save close to 1K in interest. The amount was to small to refinance, and that came handy, lately some CC, come with 0% until the balance is paid… that is great as it doesn’t set a time limit. I’d use it again. “Fico Score” vs. “Real money”, I’d go with the money, I’ll take the hit but save the money.

   Comment by Nick — Jan 6th 2008 @ 10:04 pm

4. There always seems to be a tug-o-war between simplification of your financial life and saving making a few extra bucks. For example, transfering Credit card balances to get 0% is a time-consuming, but extremely cost effective method rather than paying 15+% on your credit cards. But, it is the opposite of simplification. I guess it just depends on what is more important to you in your given stage of life…

   Comment by ChristianPF — Jan 23rd 2008 @ 1:15 pm

5. In addition, some companies offer discounts for your life policy too, not just the home and auto.

   Many companies also require you to keep your underlying coverages there if you take out an umbrella policy. You would not want to find out that requirement the hard way… when you are filing a claim!

   Comment by My Dollar Plan — Jan 23rd 2008 @ 5:32 pm

6. It took me 15 minutes and 2 phone calls to make the transfer. Fee was modest 75$ or 2.5% on my 3000 transfer. To auto refinance I couldn’t get 0% anywhere soo… I agree it was very effective, yet I disagree, it is rather simple procedure, or at least it was for me.

   And as a conclusion… in any stage of life you have to save what you have, interests, fees and others promises of payments have to be avoided at any cost. I saved my money that I otherwise would have to pay as promised. I can pay it right away I have the finances, yet why would I, when I have 9 months of free money with 0% interest. Paid with someone savings… Best of money is their availability and quantity… the rest is joke.

   PS. “few extra bucks” was over 700$ spread as interest over 2 years.

   Comment by Nick — Jan 23rd 2008 @ 7:36 pm

7. It took me 15 minutes and 2 phone calls to make the transfer. Fee was modest 75$ or 2.5% on my 3000 transfer. To auto refinance I couldn’t get 0% anywhere soo… I agree it was very effective, yet I disagree, it is rather simple procedure, or at least it was for me.

   And as a conclusion… in any stage of life you have to save what you have, interests, fees and others promises of payments have to be avoided at any cost. I saved my money that I otherwise would have to pay as promised. I can pay it right away I have the finances, yet why would I, when I have 9 months of free money with 0% interest. Paid with someone savings… Best of money is their availability and quantity… the rest is joke.

   PS. “few extra bucks” was over 700$ spread as interest over 2 years.

   Comment by Nick — Jan 23rd 2008 @ 7:38 pm

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