by Beks
OK, OK, so the last money saving article I read wasn’t exactly helpful and I was a bit snarky in my comments about it soooo…
I decided to share an article from WalletPop to make up for it. Aaron Crowe wrote about 10 offbeat ways to be frugal and *gasp*, I liked it. Some suggestions were actually helpful! I particularly liked the way he said, ‘frugal is still the new black.’
That’s right folks, he said we’re cool.
Check out the article here.
Beks is a full-time government employee who enjoys blogging late into the night after her four kids have gone to sleep. She’s been married to Chris, her college sweetheart, for 15 years. In 2017, after 3 long years working the Dave Ramsey Baby Steps, they paid off more than $70K and became debt free. When she’s not working or blogging, she’s exploring the great outdoors.
That was an interesting article. I do think that he’s wrong about the home insurance thing. Just because home values of already built homes have dropped does not mean that you could rebuild for less than when you bought the policy. In fact, the price of raw materials has gone up. So it’s a bad idea to lower your policy payout amount.
Nicole – to build on what you have already stated….some states (like PA) set the home replacement amount for you. It’s not like you can call the company and say “Hi please only insure my house for X number of dollars”. It’s done that way so if you have a total loss you can’t accuse the ins co of under insuring your home and sue them when there isn’t enough $ to pay the pay the claim & rebuild your home.
When I worked in the ins industry I would have calls all the time of people looking do reduce their Home Owners bill. The most common thing people would drop? The backup of water & sewer coverage. (Usually less than $30 a year) When the dishwaher would back up or a toliet overflow there was no coverage to replace anything or repair the damages. Imagine what kind of damage cn be cause by a toliet leaking all day on the second floor of a home?! And that would have to paid out of pocket now because you didn’t have the coverage.
Ok – I am sorry I went off on a tangent I just think it was a great point to for you to bring up!
I called my homeowners insurance last year because the value of the homes in my neighborhood decreased greatly and the newer homes being built were cheaper than the ones around the time we bought. They discovered that my house would cost way less to rebuild if it were destroyed than originally insured and lowered my premiums by $150 a year. Worth the 30 minute phone call.