5 Ways You’re Getting Ripped Off and How to Fight Back

You’re probably getting ripped off right now. And if you don’t do anything about it, you’re going to keep getting ripped off.

As we all know, the world is littered with companies and industries that charge way more than they should. That’s their right. After all, it’s a free country. But there’s no reason you have to just sit there and take it. You can fight back.

In short, every day you have a choice: make some anonymous company richer, or make yourself richer.

Following are examples of businesses that are costing you hundreds, and ideas you can harness to do something about it. Not all will work for you, but some will, so check them all out.

1. Stop losing $610 a year on car insurance

Your car insurance company is very likely charging you too much. How do they get away with it? Because they know you. They know you hate the confusion and hassle of shopping for a better deal. So they gradually raise your rates every year and pray that you sit there like a deer in the headlights.

That’s why you should take a few seconds and check out Provide Insurance, the largest online marketplace for insurance. Provide Insurance lets you compare quotes from more than 175 different carriers in the blink of an eye.

Just answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.

Best-case scenario? You spend a few minutes and save up to $610 by using the Provide marketplace: money you could use for traveling, paying down debt or simply having more fun.

Worst-case scenario? You find out you’re already getting the best deal.

Either way, you’re better off, right?

2. Pay 25% interest on a credit card? Seriously?

The average credit card interest rate these days is approaching 25% — a record high. Sounds like what a loan shark would charge, doesn’t it?

Never borrow recklessly, but when it’s time, do it right. Take advantage of much lower rates by borrowing against your home. Use that loan — with rates as low as 6.75% — to fix up your house, to pay off high-interest debt or for any other purpose (besides financing a lifestyle you can’t afford).

That’s a fraction of what credit cards charge, and will literally save you thousands of dollars over the life of the loan.

How do you shop for the best deal? Simple: Head to a loan shopping site like Rocket Mortgage. They’ve eliminated most of the hoops you had to jump through in the past, so it only takes a couple of minutes to see how much you could get.

3. No house? No problem

Want to slash your interest rates but don’t have a house to put up as collateral? No problem. You can still get a lower-interest personal loan and use the proceeds to pay off that sky-high-interest debt.

Whether you’re consolidating high-interest debt, financing your next home renovation project, or covering unexpected expenses, NerdWallet's loan marketplace makes finding the right personal loan quick and easy.

It only takes a few minutes to apply — without affecting your credit score — and if approved, you’ll have money in your account in no time.

NerdWallet has rated and reviewed loans from more than 35 financial institutions, with loan amounts ranging from $2,000 to $50,000 and APRs as low as 5.99%.

Their marketplace also offers a range of helpful resources and tools, so you’ll feel confident and informed throughout the process. It’s never been this easy to find and compare personal loans.

4. Stop being driven to the poorhouse

According to the Consumer Price Index, the cost of car repairs has gone up almost 20% in just the past year. That’s more than six times the national inflation rate.

Ouch.

Of course, there’s nothing you can do about it, right? Wrong. You can use a service like Carchex. Their vehicle protection plans will work at any licensed repair facility in the United States, from independent shops to dealers.

The shop diagnoses your car, gets approval from Carchex, does the repair and then gets paid directly from the company. Carchex can save you hundreds, even thousands, of dollars in covered repairs.

Their plans can last up to 250,000 miles on cars up to 20 years old. Plus, all plans include benefits like 24/7 roadside assistance, towing, rental cars, gas delivery and more.

Carchex has an A+ rating from the Better Business Bureau and is recommended by companies like Carfax, Kelley Blue Book and CarBuyingTips.com.

How much will it cost? There’s only one way to find out.

5. Stop getting overcharged on everything you buy

With the kind of inflation we’ve all seen over the past two years, you’ve obviously noticed everything is more expensive now.

Fight back by saving 10% to 30% on everything you buy online.

How? Try Capital One Shopping. This handy-dandy tool alerts you when a deal on an item you’re buying is available. Talk about effortless. All you have to do is add it as a browser extension, and it’ll automatically search the internet for coupon codes to apply during checkout.

That’s not all. Capital One Shopping also compares prices across the internet and will notify you when the item you’re purchasing is cheaper elsewhere. It’s free, and you don’t need to be a Capital One customer to use it. It’s just a friendly tool trying to save you money online.

Bonus: Get totally free rip-off protection every day

What’s free and gives you tips to spend less, make more and avoid rip-offs? The Money Talks Newsletter. Every day for more than 25 years, we’ve been providing free tips and tricks to make you richer.

And it doesn’t cost a dime.

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Try it. You’ll be glad you did!