When I start working with a new client, I’ll often try to find a few small wins to build momentum.
An easy one that comes up all the time is related to insurance.
Often people have collected a few different types of insurance over the years that don’t really make sense when you put them together and review their overall situation. This is especially true of different types of creditor insurance, like on all your credit cards and lines of credit. Sometimes people aren’t even aware they’re paying for it.
In these cases, it almost always makes more sense to replace everything with a single term policy. You can often easily cover all your debts, everything related to funeral expenses, and leave a small chunk of change behind, all while paying a lower monthly amount.
It’s a small thing. But it’s a step in the right direction and can help huge with peace of mind.