Best Tips for Reducing Monthly Bills

Most households have recurring costs that have to be managed. These monthly expenses can consume a significant amount of your budget, making it harder to make ends meet.

Luckily, many monthly bills can be reduced relatively quickly. If you need to reduce your payments, here are a few areas that are always worth exploring.

Reevaluate Your Phone, Cable, and Internet Services
Home phone, cable, and internet services can eat up a significant amount of your budget. However, it’s also relatively easy to lower these costs.

If you have a cell phone, consider cutting your landline altogether. Check for a lower cost cable package or eliminate your subscription entirely. See if you can save money on internet by choosing a different speed.

Additionally, you may be able to reduce these expenses by speaking with your provider, even without making cuts. Reach out and see if you could bundle your services for a lower monthly bill or ask about promotional rates for existing subscribers.

Before you confirm any changes, make sure you won’t be subject to an early termination or change fee. In some cases, cutting your service before the end of your contract can lead to a penalty charge of several hundred dollars. While this still may be cheaper in the long run, only cancel if you can afford the fee. Otherwise, note when your contract ends and plan to make changes then. Here is a list of low cost cell phone plans

Watch Your Utility Usage
Electricity, water, natural gas, and sewer bills are typically based on usage. The more you use these utilities, the higher your bill. But, if you work to reduce your usage, you can save money quickly.

For example, when you want to save electricity, make sure to turn lights off in rooms you aren’t actively using at the time and switch to energy saving bulbs. Unplug appliances when not in use or connect them to smart power strips to avoid “vampire drain.” During the summer, increase the temperature inside your home a few degrees to make air conditioning more affordable or rely on fans and forgo using air conditioning entirely.

You can lower your water usage by taking shorter showers or filling the bathtub up less during baths. Waterflow reducers are also available for showers and faucets, decreasing use by limiting the amount of water that can come through at a time. Low-flow toilets can also help you save money. Learn about utility bill assistance here.

Shop Around for Insurance
Vehicle, homeowner’s, and renter’s insurance are costs most households have to manage. If you haven’t shopped around for a new policy in a while, doing so may help you reduce your monthly bills.

Contact a variety of companies and request insurance quotes based on your coverage needs. You can also ask if any discounts may be available, such as by having multiple policies or being a member of the military, to make sure the costs are as low as possible.
Then, compare the coverage and see if there is an alternative insurer who could meet your needs at a better price. If so, then you can switch fairly easily by contacting that company to sign up and canceling your old policy.

All of the tips above can help you lower your monthly expenses. Consider trying them all today. You may be surprised at how much you can save. For help paying bills should you be falling behind, visit our page on assistance services.