We all pay too much for banks, credit cards, insurance, but there are ways to save...here are 5 of them.
1-Save around $300 per year on chequing account fees by switching to a bank that offers no monthly fees. If you decide to stay with your current bank, then set up a meeting with a representative and find the right plan for you.
2-Save around $250 a year by decreasing your mortgage rate by 0.25%. Take the rates of many financial institutions to your bank and see if they could match them. And ask if you could move your chequing account or another type of account or business to your bank. Banks usually offer better rates to people who are willing to have a deeper relationship with them.
3-Save more than four years of interest on your mortgage payments by dividing your monthly payments in two and making 26 payments instead of twelve (payments for every two weeks). This will amount to more payments per year, which is directly applied to the principal of the mortgage. You'll be paying your mortgage off all lot faster.
4-Since charitable deductions are tiered, you should get a writeoff for your charitable donations every five years. You'll be getting more credit when it's lump sum, around 30% on each dollar.
5-Save up to 25% of your car insurance premiums. First, by moving all your insurance to the same insurer, which will give you a multi-line discount. Then, increase your deductibles. While this is not risk free, it will save you money over the years.