Saving & Spending

5 Ways Seniors Are Throwing Away Money

senior couple piggy bank counting money
Last updated Dec. 23, 2024 | By FinanceBuzz Editors

If you're a senior, you could be throwing money out the window without even knowing it... and just a few small mistakes might be to blame. 

These mistakes — like not getting a home warranty or overpaying for car insurance — can go under the radar for months or years, drying up your savings like summer rain on a scorching sidewalk. 

But what if you could fix these problems easily, once and for all? It's possible, and most of these fixes can be started in minutes. It's time to stop throwing your money out the window!

Ohio Driver? Cancel your car insurance

We've got bad news. You could be wasting $600 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there's something much better.

This new tool from FinanceBuzz can tell you if you're overpaying for your car insurance in just a few clicks. We match drivers with companies that report saving drivers up to $600 or more per year when they switch! Each driver’s savings will vary by driving history and how many discounts you’re eligible for. And once you try it out, you'll never have to look for affordable insurance again because we find you the lowest rates that other companies can't match.

Oh, and it's also free. And come on — you can't tell us you don't want to save up to $600. To find out if you're losing up to $600 or more a year, just answer a few questions, and then make sure to enter your zip, DOB, and email, to see if you qualify for a lower rate. It takes less than 2 minutes.

See if you're overpaying

Not earning a $200 cash rewards bonus with this incredible card

There's a credit card that's making waves with its amazing bonus and benefits. The Wells Fargo Active Cash® Card(Rates and fees) has no annual fee and you can earn $200 after spending $500 in purchases in the first 3 months.

The Active Cash Card puts cash back into your wallet. Cardholders can earn unlimited 2% cash rewards on purchases — easy! That's one of the best cash rewards options available.

This card also offers an intro APR of 0% for 12 months from account opening on purchases and qualifying balance transfers (then 19.49%, 24.49%, or 29.49% Variable). Which is great for someone who wants a break from high interest rates, while still earning rewards.

The best part? There's no annual fee.

Click here to apply now.

Not getting a home warranty

Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more. Not being able to make repairs could leave you in a bad situation — but a home warranty could protect you against surprise expenses.

Whether you’re a brand-new homeowner or you’ve owned your home for years, a plan from Choice Home Warranty could pick up the slack where homeowner’s insurance falls short.

If a covered system in your home breaks down, you can call their hotline 24/7 for assistance to get it repaired. They have a network of over 15,000 technicians that can assist you, making sure any issue can be taken care of swiftly — without breaking the bank.

Not sure if it’s for you? Rest easy: they were named one of the "Best Home Warranty Companies" by US News 360 Reviews and were awarded Best Company's 2020 Consumer's Choice Award. For a limited time, you can get your first month free when you sign up for a Single Payment home warranty plan.

Get a free quote

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Wells Fargo Active Cash® Card

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$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

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Earn unlimited 2% cash rewards on purchases

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