Save Money

The Top 5 Ways to Save $1,000 in 2 hours Without Sacrificing Anything

We all like to save money, right? I mean, we like to spend, but we don’t like to overpay for things. What if I could show you five ways to save money with very little effort and without sacrificing anything (you can keep you home, car, coffee, and cable)? Would you be interested? Then keep reading…

#1 - Raise Your Car Insurance Deductible

Most people have their car insurance deductible at $250. This is likely costing you about $20 per month more than a $500 deductible. That means you are paying an extra $15 to protect $250 (the difference between the $500 deductible and the $250 deductible). That is a bad deal. Contact your insurance company today and raise the deductible. This will save you $180 this year alone. While you are at it, cancel the rental car fee if you have another car in the family and the towing if you have AAA or some other service.

ClockTime Spent: 20 Minutes

Money BagCash Saved: $180

#2 - Contact SiriusXM, Cable, Dish, DirecTV

Tell them you just don’t use their service enough – or you are going to cancel because their competitor is offering a better deal. You should easily get 25% or more off your bill. Save $50 on your annual Satellite radio, and $25 per month $300 per year) on your TV bill.

ClockTime Spent: 20 Minutes

Money BagCash Saved: $50 Satellite Radio

Money BagCash Saved: $300 TV Bill

#3 - Refinance Your Car Loan

Yes, you can do that if you have good credit. Many credit unions will allow you to refinance your car loan and at a lower rate. This could easily save you $25 per month or $300 per year.

ClockTime Spent: 40 Minutes

Money BagCash Saved: $300

Time Spent    40 minutes

#4 - Ask for a Lower Credit Card Rate

You can always ask your credit card company if they will lower your rate. If you have been a good customer with solid credit they will likely do this for you. If not, you can transfer the balance to a 0% card, but make sure the 0% is for 12 full months and the transfer fee is no more than 4%. And don’t cancel your current card. You may need to transfer a balance back to it after one year when the promotion expires. For someone with $10,000 in credit card debt, this could save them $1,200 per year in interest and your minimum monthly payments will be about $100 lower.

ClockTime Spent: 20 Minutes

Money BagCash Saved: $1,200


#5 - Save on Your Utility Bills

For your electric bill, simply turn down your hot water tank a few degrees (okay, if you have gas or propane then it won’t save electricity… you got me there – it will save on gas or propane). If you pay separately for trash pick up then contact a few different service providers to see if you can find a cheaper one. You could save about $5 per month or $60 per year.

Save MoneyTime Spent: 20 Minutes

Save moneyCash Saved: $60


When you add it all up, that is $1,000 per year in savings (okay, $990) without actually giving anything up. You got to keep your cable, keep your satellite radio, keep your electricity, keep your car and keep your insurance. You simply save money by paying less for each with just about two hours’ worth of effort. Hmm. Too bad I don’t work on commission.

Disease Called Debt

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Bill Pratt

Bill is an Assistant Professor of Business at Piedmont Virginia Community College. He speaks on topics related to personal finance on college campuses across the country and is the author of multiple books on personal finance. He left the financial industry to focus on helping people become personally and financially successful. He lives in Charlottesville, VA with his wife and their three pets.

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