Panorama Community Magazine
5 High-Impact Inflation-Fighting Tips For 2022 (BPT) - Consumers who notice inflated prices at the grocery store, gas pump and hardware store may be inspired to minimize the impact of rising prices. The best place to start could be with a handful of big-ticket items where saving money can put hundreds of extra dollars in your checking account over the course of the year. That may provide a cushion to handle the steady rise in prices on dozens of smaller items. Here are five, high-impact ways to battle inflation: 1. Rethink auto insurance coverage If remote work means you are driving less than you did in the past, you may qualify to save money on your auto insurance. These discounts can be available to those driving fewer than 10,000 miles per year and can result in savings as high as 10% off car insurance premiums. Should very limited driving put your vehicle at lower risk for damage, it may make sense to reevaluate past decisions to purchase comprehensive and collision coverage. It might also be time to increase your auto insurance deductible in favor of lower premiums. qIf the amount you drive has dropped significantly, consider a pay-per-mile insurance plan that adjusts your cost according to how much you drive. To understand how much money you could save by changing the type of Mon.-Fri. 10am-8pm Sat. 11am-8pm Sun. 1-5pm
30 Years
Experience!!
JACK MUNDIE
coverage you have, CarInsurance.com eliminate interest on the debt you've built has a car insurance estimator tool that up altogether. shows how much a variety of factors can affect premiums. 4. Switch to a no-fee checking account 2. Comparison shop for If you pay a monthly fee for car insurance maintaining a checking account assess Once you've established the auto checking accounts without monthly fees. insurance level that best fits your current Switching to a no-fee checking account needs, exploit differences in premiums can save money on an ongoing basis. offered by different auto insurance Websites such as MyBankTracker. companies. Ensure you are paying a com research and review the best free competitive rate by comparing quotes checking accounts, making it easy to from multiple insurers. identify good options. This comparison process doesn't Banking online is a good way to just apply when you need a new policy. access a no-fee checking account. Check prices every time you renew. Your Some have little or no minimum balance driving record and other factors can requirement, so are readily available to change over time, and this can affect most consumers. Making this switch which company offers the lowest auto could save you well over $100 each year. insurance price at any given time. 5. Refinance your mortgage 3. Try a 0% balance transfer card Despite rising last year, mortgage If you're like a lot of Americans, rates are still well below their historical you may still have some debt left over norms. This means many homeowners on your credit cards after the holiday may still have a chance to refinance at a season. Transferring that debt to a card lower rate. with a 0% balance transfer offer can give The gap between 30-year and 15you some time to pay down your debt year mortgage rates widened during interest-free. 2021. This means it may be especially Compare balance transfer credit cards beneficial to refinance to a shorter-term with low or 0% interest offers to pay less loan. Refinancing a mortgage can be a interest while retiring debt. Some offer way to lower bills not just for 2022, but for low introductory rates for more than one years afterward. year. At typical credit card interest rates, Higher inflation makes more demands avoiding interest for at least a year could on your budget, forcing you to make save hundreds and possibly thousands tough choices about what you can afford. of dollars. Fighting back against inflation allows you The best use of this type of card is to buy more for your family despite rising to make it part of a plan to pay off your prices. credit card debt within the temporary low To learn more, visit CarInsurance.com, or 0% transfer period. That way you can CardRatings.com and MyBankTracker.com.
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