Money saving is art. If truth be told, it might get difficult for some individuals who cannot control their reflex spending habits. Learning to operate within the budget can make you reap the rewards later on in your life. The money you save today, are your gains for tomorrow, especially with the state of the economy these days!

In the following article, we will highlight a few novel ways to spend less on your medical and automobiles. So read on!

First, let’s deal with the medical expenditure and what you can do to save more.

Review your medical insurance

Never make the mistake of a “set it and forget it” type of insurance structure. Don’t get caught up in the idea that once you have signed the dotted line, you are set for life. The prices and options are highly dynamic, and you should review your insurance provider from time to time. Shop for a better medical insurance provider if need be!

The insurance claims

Your insurance premiums including the auto and the home insurance increase exponentially when you file claims. Do the math yourself and compare the deductible of the policy and the rate increase with what you need to spend trying to go by yourself. Chances are you are going to be better off by not making a claim.

Pay in advance

Insurance companies are in a business of making money while providing health expense coverage. So keep the cash flow steady. It’s a great idea to make multi-month payments so that you have lower rates. But do make sure your cash situation and capital can handle it.

Term vs. whole

Instead of investing in whole or lifetime protection have you thought about buying a term life insurance? Term policies are inexpensive and provide the same features. Maybe your life will be better by going to term policies. Many experts do believe term policies are an overall better deal.

Compare the health expenditures

Health costs and expenditures are negotiable and not the fixed price that many of us mistakenly think it to be. Shop around to get the best deal when it comes to the cost of procedures, appointments, and medications.

About the generic meds

Did you know that you can go for the generic drugs and medications instead of the brand name ones and still get the same result? It will help you save quite a lot of dollars. The generic meds also meet the same FDA standard as the brand name drugs so don’t worry.

Now we shift to how to save big on automobiles, purchases, and maintenance both!

Pay in cash

Cash will always be the king. Paying up on the spot and the entirety of the amount is always ideal. Your credit card deal goes smooth, but you end up paying a little more than you bargained for due to the interests levied. Make sure your car dealer is on the same page as you and pay up on the spot.

Do you need a new car?

If there is nothing seriously wrong with your vehicle, you should keep it. If you do the right maintenance chances are the car will run smoothly for years to come. And if truth be told even if you need frequent trade-ins, upgrades and purchases will still cost less than the outright buying of a new vehicle.

Buying vs. leasing

If you need a new vehicle always buy it instead of going for a lease. In a lease, you will end up with similar kind of expenditure and yet won’t have any ownership of the vehicle.

The used car option

You can even go for buying a used car and pay for it in cash, upfront! New cars burn a hole in the pocket, and in business terms, the value depreciates rapidly the moment it leaves the lot at the dealers! Buy a used one, and chances are you will end up with a great car. Additionally, you do not need to finance a used car. Pay full and upfront and avoid the debt trap.

How is your car on fuel economy?

Does your vehicle give you maximum mileage? Fuel economy is imperative is this day and age with the urging gas prices. A difference of even 10 gallons of fuel efficiency adds up to a lot of savings in the long run. It’s the ideal time to switch your car when it isn’t fuel efficient.

Take care of your tires

How often do you inflate your tires? Vehicle tires cost a lot, and if you are not invested in the proper maintenance of them, you will add to your expenses regularly. You will even save a lot on the fuel spending of the vehicle due to the ease of movement with properly inflated tires.

Learn the basic car fixes

Avoid running to the mechanic for every time you need to change the engine oil, change a tire or two and fix a spare part or that windshield anti-glare. It is always a great idea to learn a few quick fixes. All you need is a good internet to learn most of the popular tips and tricks when it comes to automobile maintenance.

Use your car, don’t abuse it

You can pledge it to yourself not to use your vehicle for every commute. It’s great to travel in style with friends and family, but the local cab services, public transports, and Uber services can help you to save more on the daily commute to office and school. It also reduces your carbon footprint and pollution.

Walk, pedal and save

Invest in a bicycle. Pedaling is cheap while walking is cheaper. Try these simple methods when commuting for smaller distances or to the grocery shop. No more worrying about parking spaces, extra visits to the gas station, traffic and safety. What’s more, it’s an exercise as well.

There is no secret magic to saving money. It starts with these basic steps, and you can develop more on them as you get better at it. All the best!

Author Bio

Marina Thomas is a marketing and communication expert. She also serves as a content developer with many years of experience. She helps clients in long-term wealth plans. She has previously covered an extensive range of topics in her posts, including Money Saving, Budgeting, Cryptocurrency, Business debt consolidation, Business, and Start-ups.