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Keeping an eye on expenses

Last post Fri, Oct 18 2013 3:13 PM by map578. 5 replies.
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  • Wed, Oct 16 2013 1:02 PM

    • map578
    • Top 150 Contributor
    • Joined on Tue, Oct 25 2011
    • Posts 462

    Keeping an eye on expenses

     Every couple of years I go through our expenses and clean house. I check prices for car insurance, homeowners, tv phone and internet services, oil prices, and my medical supplies. We also can choose our electric supplier here and I find I need to keep an eye on them. Often they will give you one rate only to raise it a year later to a higher rate than you pay with anyone else. I would prefer a contract but they have not progressed to that point as of yet.

    Years ago my husband was put on furlough and I cut my expenses down by about $150 or more a month just by comparing prices. What an eye opener! I have not been so much of a loyal customer or quite so lazy since.

    So do you keep check? How often?

     

  • Wed, Oct 16 2013 4:31 PM In reply to

    Re: Keeping an eye on expenses

     I do the same, every January when we pay the insurances, do taxes, etc. While we don't buy oil for heat, we do live in a state where the electricity has been deregulated. Right now we're under contract for a pretty good rate, much better than before dereg.

    That's quite a bit of reduction, congrats!

    Good post!

     

  • Wed, Oct 16 2013 11:16 PM In reply to

    Re: Keeping an eye on expenses

    We are limited in lots of things...only one car insurance, gas and electric here.    cable you can get options but not many!

  • Thu, Oct 17 2013 7:47 AM In reply to

    • smiles
    • Top 150 Contributor
    • Joined on Tue, Jun 15 2010
    • Midwest
    • Posts 312

    Re: Keeping an eye on expenses

    Great post, I would offer to be diligent with other expenses. We have reduced our newspaper subscription with a simple phone call, it does not hurt to ask. I also got a late fee for a credit card bill I never got in the mail, when they looked at my record and saw I never missed a payment, the fee was dropped.

    We noticed a "tank rental" fee for our natural gas tank, that was suppose to be free. Sure enough, simple mistake the company said. Right!

    Good lesson learned, question and check everything.

  • Thu, Oct 17 2013 7:02 PM In reply to

    Re: Keeping an eye on expenses

     We recently changed home phone and internet to save money. Babs

  • Fri, Oct 18 2013 3:13 PM In reply to

    • map578
    • Top 150 Contributor
    • Joined on Tue, Oct 25 2011
    • Posts 462

    Re: Keeping an eye on expenses

     It all adds up but I must say the most surprising savings has to be my medical expenses. On most of my supplies and medications we do save by mail ordering them through the company pharmacy and getting them in a 3 month supply. But my heart medications are actually cheaper by just buying them outright and not using the insurance at all. I also have a prescription for magnesium which you can buy over the counter but costs more to buy outright without a prescription. They also cost me more if I buy them through the company pharmacy so I just buy them at the drug store pharmacy to save the most. 

    Don't ask how I figured out the magnesium but if you buy your meds and supplements long enough you know the cost.

     I also watch my testing. I have quite a bit and I found that my insurance company will not pay for 2 EKG's which were being preformed by both my pcp and my cardiologist. This is routine for my annual physical and my insurance will not pay for it because I have it done by my cardiologist. I now refuse to let my pcp do them. I was paying over $100 yearly for a procedure that I do not need. They never read it correctly anyway because the readings are not normal due to my defibrillator.(my pcp  knows the readings are off but the person who does the ekg always repeats it 2 or 3 times in a panic regardless of what I tell them)

    The last is my deductible I keep watch on it like a hawk. There have more times that I am double billed by my doctors for my co-pay
     or times when I need to call my insurance company for over billing me on my deductible amount.

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