How to Save $2,500 in 20 Minutes

Here's a piece from David Bach that promises five ways to save $2,500 in 20 minutes. His suggestions:

• Lose the premium cable television package and save $960.
• Get real about your cell phone and save $240.
• Go wireless and save $600.
• Exercise smart and save $240.
• Shop for car insurance and save $500.

These are great ideas. I think I've covered all of them but one (#3) in one way or another. Most can be found in my mega-post titled 301 Saving Money Posts -- Hundreds of Ideas on How to Save Money. Apply a boatload of those ideas and you'll really be saving some big money.

Here's how I personally treat each of his suggestions:

1. We don't have cable at all. We get six stations off an antenna and that's good enough for us.

2. The cost of my cell phone is picked up by my employer. ;-)

3. I'm still landlocked phone-wise at home. My cell coverage just isn't 100% reliable and as clear as I want it to be. I consider my home phone more of an insurance cost than anything else. Also, I spend less than $400 a year on it -- not the $600 he quotes.

4. I actually spend more here, but I consider it an investment in my health. Good thinking too, since my bike has saved my life.

5. Do this one all the time. Our agent knows we do this too. ;-)

Comments

[Brad]

Debt has been bothering me here recently and I have already thought through most of the points David Bach has brought up....So I'll give you how I'm doing and reason why I spring for the upper level services that I have.
1. I have a bundle package with High speed internet connection and extended basic cable television. $780/yr. The extended basic was $3 more than basic. And I find deals at department stores that I sell on auction sites. This covers my internet connection and beyond.
2. I pay $420/yr on my cell phone, which doubles as my home phone. But I'm single and don't use many minutes. My immediate family and most of my friends happen to be in the same network, so I can talk to them as much as I want. 25% of my bill is discounted through my employer.
3. I think 2. covered this.
4. I run, play Ultimate Frisbee and ride my bike, which all are free, except the upkeep, and I ask for most of this for birthday and Christmas.
5. Insurance runs me $960/yr which I just have renter's insurance and car insurance. Just a note though....I talked to my insurance agent, I asked her to reduce this cost. I added Life insurance and accidental insurance and through having multiple account discounts, it dropped the original price $20/month.
Being single I know this is probably not the average cost for all of these. I am already trying to think of ways to create side incomes and reduce further cost when I get married.

[Blaine Moore (First Time Home Owner)]

We get two cable antennae channels, and they don't really come in very well at all. We don't really have time to watch TV anyway, though.