Last Updated on Apr 8, 2020 by James W

 Many people who are trying to build a better financial life have too much cash. Too much cash? That doesn’t sound like a problem, right? While no one will be sorry to have extra cash lying around (and for some this might seem like a dream), cash loses value through deflation and can almost always be used for more profitable purposes than simply sitting in a savings account.

If you want more cash to use for such purposes, you’ll have to find a way to get it. Many people who work are not able to just get a better job. Salaries top out at a certain point, and there may simply be not enough time in the day to work a second job. In these cases, it’s easier to find savings by reducing everyday expenses. One of the best examples is by finding savings on auto insurance. First we’ll talk about how to find the savings, then we’ll talk about what to do with it.

How to Save on Auto Insurance

When looking for savings on auto insurance, you’ve got to know where to look. Insurers don’t make public numbers about the rates their customers pay. You can talk to people you know to see what they pay, but after that your research opportunities are limited. A recent insurance price index in Canada indicates that there is huge variation in premiums depending on where the policyholder lives.

Once you have an idea of what a good deal is in your area, for your driving habits and choice of vehicle, you’ve got to get on the phone with some insurance companies. Get quotes, use low quotes to negotiate still lower quotes with competitors, and don’t stop until you have significant savings. It may take a few hours, but it’s totally worth it.

Read more
How To Find Cheap Home Insurance Deals For Your Humble Home

What to Do When You Find Savings

 By securing savings, you’re only half done. Now you have spare money. Don’t waste it. Don’t start suffering the symptoms of lifestyle bloat by pittering away these savings. It’s important to take the money you are saving and putting it somewhere separate from the money you routinely use for spending. Once it’s off by itself, you can calmly think about how it could best be used. Here are just a few examples of ways you can use even a little money to get big dividends.

  • Add equity to your home by painting the exterior or performing a repair/upgrade. This may take some saving, but as a goal it is more than worth it.
  • Invest in cryptocurrency. This is a speculative investment, but thousands are seeing great returns with coins like ARK, even with a very little amount of money invested.
  • Invest in a mutual fund. Mutual funds are well-diversified, and can provide reliable returns in good market conditions. Mutual funds can usually be bought with any amount of money, so if you already have a fund, buy some more. If you don’t have one, start an account.

There are many ways you can use the money you save in auto insurance to improve your situation. Take the time to find these savings, and you’ll have more opportunities moving forward.


Founder and chief editor of Blogger, Affiliate Marketer, Tech and SEO geek. Started this blog in 2011 to help others learn how to work from home, make money online or anything related to business and finances. You can contact me at