This Week’s Money Map:

• 🏠 How to lower your home insurance rate (without cutting corners)

• ❄️ Winter is coming: How to prepare your home and cut your energy bills

• ✈️ Should you buy travel insurance for your next vacation?

• 🧐 Financial Advisor vs. Accountant: Which one do you really need?

🏠 How to lower your home insurance rate (without cutting corners)

Think home insurance is one of those bills you’re stuck with? Think again. A few smart moves can cut hundreds off your premium. Here’s how you can save money without gutting your protection or crossing your fingers when storms hit.

Raise your deductible
What you pay before insurance kicks in can cut your premium by 15–25%. For example, increasing it from $500 to $2,000 saves money each year.

But only do this if you have that amount saved in an emergency fund. Think of it as handling small repairs yourself to save more long-term.

Shop around every year
The best home insurance deals aren’t coming from agents — they’re found online. Most agents work with a limited list of companies, and some subtly steer you toward the ones that pay them better commissions.

Get at least three quotes before renewing. When you have this information, you’re in full control. No small talk. No pressure. No bias. Just real numbers from multiple insurers competing for your business.

Bundle for easy savings
If your home, auto, or life insurance are with different companies, ask about bundling. Most insurers offer 10–25% discounts for combining policies. It also means one bill, one login, one renewal date. 

Make your home safer
Insurance companies reward lower risk. You can earn discounts by adding:

• Smoke and carbon monoxide detectors

• Security systems or smart doorbells

• Deadbolt locks and fire extinguishers

• Impact-resistant roofs or storm shutters

• Sump pumps or leak sensors

Tip: Insurers don’t always adjust your rate automatically. Call and ask for the discount once upgrades are done.

Keep a strong credit score
Most insurers use credit-based scoring to set rates. Pay bills on time, keep balances low, and check your credit report each year. Even a 50-point boost can save $100–300 a year. Improving credit helps with loans, too.

Review coverage once a year
Many homeowners pay for more than they need. Here’s what to do when reviewing your policy each year:

• Insure your rebuild cost, not market value. The land doesn’t burn down.

• Update personal property limits. Drop coverage for items you no longer own.

• Check optional coverages. Flood or earthquake protection only matters if your area is at risk.

• Boost liability coverage. It’s cheap protection if you have savings or property to protect.

• Ask your insurer for a full list of add-ons. Remove extras you don’t use.

Avoid small claims
Frequent claims raise your rates. Handle minor issues yourself and save insurance for major damage. Staying claim-free for a few years often earns 5–20% discounts.

Keep up with maintenance
Prevent problems before they start. Clean gutters, trim trees, inspect roofs, and seal cracks. Small care today avoids costly claims later. Keep records of repairs, it shows responsibility if you switch insurers or file a claim.

Ask about hidden discounts
Insurers rarely mention these, so ask directly. You might qualify for extra savings if you:

• Work in education, health care, or public service

• Live near a fire hydrant or station

• Go paperless or set up auto-pay

• Are retired or work from home

Lowering your insurance bill isn’t about cutting corners. It’s about staying informed and managing risk wisely.

❄️ Winter is coming: How to prepare your home and cut your energy bills

If you think last winter’s heating bill was bad, brace yourself. This year’s costs are expected to climb again, and many families will feel it. But here’s the good news: you can take control before the cold settles in. With a few smart steps, you can keep your home warm and your energy bill steady without sacrificing comfort.

Seal the leaks before the cold sneaks in
Walk around your home and look for drafts around windows, doors, pipes, and attic openings. Even small gaps let warm air slip out and cold air rush in. Add weather-stripping where doors meet frames, seal cracks with caulk, and use foam around plumbing holes. Check your attic insulation, too. If you can see the joists, you probably need more. Sealing leaks is one of the simplest, most cost-effective ways to lower your heating bill fast.

Tune your system and use your fan wisely
Get your furnace or heat pump serviced as soon as possible. A quick check-up and a clean filter can improve efficiency by 5–10%. Keep your thermostat at about 68°F when you’re home and drop it a few degrees when you sleep. Use a programmable thermostat if you can — it adjusts automatically and saves energy without effort.

Here’s a little-known trick: change your ceiling fan’s direction to clockwise in winter. This pushes warm air trapped near the ceiling down into the room. In summer, reverse it to counterclockwise to create a cooling breeze.

Build habits that cut costs
Dress in layers indoors instead of turning up the heat. Keep interior doors closed to trap warmth in occupied rooms. Unplug electronics that aren’t in use because they still pull power. Do laundry or run the dishwasher during off-peak hours if your utility offers lower nighttime rates. None of these changes are dramatic, but together they can shave real money off your monthly bill.

Let the sunshine do some of the work
Open curtains on south-facing windows during the day to let sunlight naturally warm your home. Close them at night to keep that heat inside. Add clear plastic film or thermal curtains to older windows to stop drafts. Simple fixes like these can reduce heat loss by as much as 20% and make rooms feel noticeably cozier.

Energy prices are expected to rise this winter, but that doesn’t mean your bill has to. You have more control than you think. Prepare early, make your home efficient, and treat warmth like the valuable resource it is. Your future self will thank you when the coldest nights hit and your energy costs stay under control.

✈️ Should you buy travel insurance for your next vacation?

Vacations are supposed to be stress-free, until flight cancellations, lost bags, or a surprise medical bill abroad make them anything but. Travel insurance is designed to keep those “what ifs” from wrecking both your trip and your bank account. But is it really worth the cost? 

When you need it
So when should you definitely consider buying it? If you’re booking big non-refundable expenses, traveling internationally, visiting high-risk destinations, or have health conditions that could flare up, travel insurance is smart protection. It’s also worth it if you want coverage for potential trip delays or lost luggage, which can be costly nuisances. 

When you don’t
On the flip side, if you’re booking flexible, refundable travel options or traveling domestically with comprehensive health insurance, you may not need a full policy. Some credit cards also provide travel insurance when you pay with them, which can cover many common scenarios. 

What travel insurance actually covers

✔️ Trip cancellations and delays: Reimburses nonrefundable costs (flights, hotels, tours) if you cancel for covered reasons, such as illness, family emergency, or airline strikes. Some policies cover delays of 6+ hours, paying for meals and hotels.

✔️ Medical emergencies abroad: U.S. health insurance usually doesn’t travel well. A broken ankle in Paris? Without coverage, you could be staring at a $10,000 hospital bill. Emergency evacuation can soar past $50,000.

✔️ Lost or delayed baggage: Compensation for essentials if your bags go missing or are delayed for 24+ hours.

✔️ Travel assistance: 24/7 hotlines to help with rebooking flights, finding a doctor, or replacing lost passports. 

What it usually doesn’t cover

• Pre-existing medical conditions (unless you buy a waiver)

• High-risk activities like scuba diving or skiing (unless you add adventure coverage)

• “Change of mind” cancellations — you generally need “Cancel For Any Reason” (CFAR) coverage for that, which costs extra

Travel insurance typically costs 5–10% of your trip price. For a $5,000 vacation, that’s $250–500, a small price compared to what one medical emergency or canceled trip could set you back. Check out MoneyGeek’s list of the cheapest travel insurance plans. 

When to buy
The best time is right after booking your trip. Early purchase unlocks benefits like CFAR coverage or protection against pre-existing conditions slipping in later. 

Pro tip: Shop around, don’t just buy the airline’s policy at checkout. Compare quotes from major insurers to get broader protection at a better rate. 

Travel insurance isn’t for every trip, but for many travelers, it provides a valuable safety net against costly disruptions and emergencies. Weigh your trip details, risks, and budget, but remember, a small policy could save thousands in headaches later.

 🧐 Financial Advisor vs. Accountant: Which one do you really need?

Between rising living costs, new tax rules, and volatile markets, it’s easy to feel unsure about who to trust for financial guidance. Two professionals often come up in the mix: the Certified Financial Planner (CFP®) and the Certified Public Accountant (CPA). They both work with money, but their expertise is very different. Knowing which one to hire — and when — can make a real difference in how well your financial life runs.

What a Certified Financial Planner (CFP®) does
A CFP helps you make sense of the bigger picture. Their focus is on helping you grow and manage wealth over time.

A CFP can help you:
✔️ Set and track financial goals, such as buying a home, retiring comfortably, or paying for college
✔️ Design an investment strategy that fits your risk tolerance and time horizon
✔️ Build a safety net through insurance and emergency savings
✔️ Create estate plans and legacy strategies to protect your family’s future

A good CFP acts as your personal financial coach. They’ll look at your income, debt, savings, and investments and tie it all together into a plan that makes sense. Many CFPs are fiduciaries, meaning they are legally required to put your best interests above their own.

Pro tip: Ask whether your financial planner is fee-only or commission-based. Fee-only planners earn money directly from you, not from selling financial products. This can mean more objective advice.

What a Certified Public Accountant (CPA) does
A CPA focuses on accuracy, compliance, and tax efficiency. Their main job is to help you report your finances correctly and legally, while minimizing what you owe. They’re experts in tax law, accounting, and financial reporting, areas that can get complex fast.

A CPA can help you:
✔️ Prepare and file tax returns
✔️ Develop tax-saving strategies for individuals and businesses
✔️ Keep business books organized and compliant
✔️ Represent you during IRS audits or handle financial statements for lenders

If you own a small business, freelance, or have multiple income streams, a CPA is essential. They help you avoid mistakes that could lead to penalties or missed deductions.

Pro tip: Meet with your CPA at least once before tax season starts. Year-end planning can help you make smarter decisions, like timing large purchases or maximizing deductions before December 31st.

When to use each one
Think of a CFP as your long-term strategist and a CPA as your short-term consultant. A CFP helps you decide where you’re going financially, whereas a CPA ensures you get there without losing money to taxes or errors.

If your main goal is growing wealth, retiring early, or investing smarter, a CFP is your best partner. If you’re more focused on reducing taxes, managing business finances, or staying compliant, a CPA is the one you need.

Sometimes, you’ll need both. For example:

• You run a small business and want to set up a retirement plan that’s tax-efficient

• You’re planning to sell a property or business and want to reduce capital gains

• You’re approaching retirement and want to manage withdrawals while minimizing taxes

In these cases, a CFP and a CPA can work together: one builds the strategy, the other ensures it’s tax-smart and compliant.

The best financial setup often includes both. Your CPA keeps your financial foundation solid and compliant. Your CFP builds the future on top of it. Together, they help you protect what you’ve earned and grow what you’ve saved.

Smart Cents gives you actionable tips and mindset shifts to help you reach your financial happy place. Thanks for being a part of our community.

The MoneyGeek Team

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