Lesson 7: Save Money on Insurance
Save some money on auto, homeowners, and life insurance. How? Call your carriers and ask if you're getting all the discounts (for safety precautions, proximity to water and fire stations, good driving records, etc.) to which you're entitled. Take their best quotes; then shop three other carriers. If your health has improved—maybe you've quit smoking or lost weight—use that as a rationale to buy a new term-life insurance policy (you could save thousands). Use the money you save to buy insurance that you need—renters, disability, more life insurance—but aren't buying now.

Do it, say this, and sound smart: "What do you mean you don't have renters (or life, or disability insurance)? I'd never take that kind of a risk."