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But where exactly does that money go?
Overly Robust Insurance Policies
If theres one thing Thurman knows, its insurance.
In reality, many people could do perfectly fine with asimpler and cheaper package.
This phenomenon doesnt only happen with health insurance.
Thurman has noticed that drivers with older cars will sometimes spend big for full coverage.
Often, these choices can add an unnecessary $300 to $500 to annual costs, he said.
The difference can be substantial.
However, sometimes our banking and credit cards end up costing us in ways we dont notice at first.
Consumers should look to banks that offer no-fee accounts or reimburse ATM fees.
He suggested that you also search for credit cards withno annual feesunless the benefits clearly outweigh the costs.
Negotiating withcable and internet providers, or switching to more competitive plans, can help you cut costs.
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