Let the new year bring mean a new start for you financially. "GMA" financial contributor Mellody Hobson gives creative tips on how to cut costs and bank more bucks.
Trim Insurance Costs
One of the best ways to cut back is by trimming your insurance costs, whether that's medical insurance or your other insurance policies. How can you do that? Raise your deductibles. If you raise the deductible on your car insurance from $250 to $1,000, you can save up to 15 percent on your premiums.