May 26, 2013

Best piece of financial advice that I've learned recently

Everyone who has been reading personal finance blogs should know the basics about cutting down on expenses.  Call the cable company, cell phone company, electric company... any bill you have and see how you can lower it or get rid of it.

Well awhile back I read an article at Sense to Save about saving money on roadside assistance.  At the time, I had just received the AAA bill to renew for the year at a cost of $117.  So after reading the article on Sense to Save about adding road side assistance to the auto insurance policy, I decided to give it a try. 

We have insurance through Erie, so I gave them a call.  I found out that we were already paying $4 a year per car for road side assistance coverage.  I looked over my policy and didn't find any indication of this. 

The coverage from my insurance isn't as great as the AAA coverage.  Through Erie, if we need road side assistance, we need to contact any tow truck and have whatever work or towing done.  Then we turn in our receipts and get refunded.  The amount of money they refund depends on the work done so I have no way of knowing up front if my costs are being covered.  But since my husband and I both have newer dependable cars now, it didn't make sense to pay AAA $117.  I like just having the peace of mind that if we do need to tow the car, we could get some, if not all, of our money refunded.  And since we were already paying the $8 a year to Erie without even knowing it,  this piece of advice saved us $117 this year!

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