Chasing savings - how far will you go?

[Ebbie]

I always try to decrease my spending as much as I can, but I'm more of a lazy frugalite than an active one. In other words, I prefer NOT doing things to save money rather than actively doing something in a frugal way. So for example, I don't eat out. Or I reduce my Christmas gift list rather than make homemade gifts for a larger list. See what I mean?

So here's my question. I currently pay $40 a month for house insurance. It's coming up for renewal in May and I did an online search and got a quote for insurance from another company for $34 a month. But switching insurers will require quite a bit of effort. Cancelling the old, setting up the new, sending a void cheque to initiate automatic payments, perhaps even getting a home inspection required by the new insurer. Plus this was only an online quote, I'd still have to confirm the coverage matches what I have now.

So, would you chase that $6 dollars a month or just let it go? Part me hates the idea of the extra work to set it all up, but part of me wants that $6! I could use it to buy more groceries, or get a few extra satellite channels etc. or I could just save it.

Where are you on the spending less scale? Are you agressive and chase every dollar or would you be more passive and say the $6 difference is close enough and let things ride?

[changed4life]

That's a good question. I just learned that my neighbor pays $12 a quarter less in disposal fees than I do with another company. I'm like you, lazy in this area. I don't know if I should justify the "only $4 a month." Maybe when we look at the bigger picture of what is saved over a year, it might get us off our butts and do something.

If we had a different outlook, we might be able to save quite a bit every year with the many services we can technically save on. Hmmmm. Maybe I should switch.

[Marie78]

If it exactly matches your coverage now and you wouldn't have to pay for another house inspection, I would try for it and put in a little extra leg work.


I called my car ins. to see if I could improve my monthly payments and they told me I could raise my deductible from $250 up to $500. That's what I thought so I asked about my savings. I could save $15 every 6 months, a savings of $30 a year by raising the deductible $250. I decided to stay with my lower deductible and forgoe the $30 a year savings, since I like my lower deductible.

I would look as far into the $6 savings as you can before you realize the savings isn't going to be enough for you to leave your current ins. or until the new one with a savings of $6 really is the best one.

[C@rol]

So, would you chase that $6 dollars a month or just let it go? Where are you on the spending less scale? Are you agressive and chase every dollar or would you be more passive and say the $6 difference is close enough and let things ride?

I use to do this but not any more. Not with the price
of gas and the value of my time. By the time you go
through all of that you have to consider what you
spent (your time, inspection, reviewing new policy as a
comparision, etc) sometimes that $6 ain't work it.

Now if you were talking about a couple of hundred
dollars that's a different story.

[Telephus44]

Depends on whether the activity is something I don't mind whether I do it or not. I don't mind paperwork or phone calls, but I wouldn't want to do a home inspection - $6/month wouldn't do it for me.

OTOH, I will call up for a 10% prompt pay discount on a $20 hospital bill. I don't mind the phone call as much.

[mombottoo]

If I were happy with my current company it wouldn't be worth the $6 a month to switch. Now, if I were unhappy I'd switch companies without giving it a second thought. I switched both our house insurance and auto insurance when the company I was used rubbed me the wrong way...but, I still keep my membership because the perks that come with the membership are worth the fee.

Generally, for me to chase a savings it has to be equal to at least a 10% savings off what I am currently paying.

[forHISglory]

I would check with the current company about paying once a year instead of monthly. We get a discount for paying that way. And then you know you have the same coverage/agent that are you are used to.

[mickee311]

I'm lazy and we like our company, it's the same we use for car insurance, so we get a discount there. I'd stick with mine, but that's just me.

[frugalfriend]

Hmmm . . . if the coverage were the same and I didn't have to have an inspection, I'd probably switch. I hate paying more than I have to for things like that.

[larabelle]

I would switch as I do not like paying a $1.00 more for junk like that...but that is just me

[AstarB1]

In general, I can be lazy about frugal efforts that I have to (or would have to) do repetitively, but if a one-time effort saves me some money, even a small amount, I usually do it.