Tip #3:
Knock 25% off your life insurance premiums

While we're on the subject of insurance, let's turn our attention to life insurance.  You're not going to believe how much you're being overcharged for unnecessary or duplicate insurance. Here are three common pitches you should avoid:

• Accidental death coverage. Statistically, it's unlikely that you will die in an accident.
• Child life insurance. Unless your child is the family breadwinner, you don't need insurance on your child's life.
• Whole-life insurance. Term-life insurance, not whole-life insurance makes the best sense for most people.

Next: Reclaim the money you're paying for duplicate insurance coverage.