10 Tips for Lowering Monthly Bills

Nearly everyone has at one time or another wanted to be able to set some money aside; to have a fund to fall back on when it was needed. Others would be satisfied if the money they made would cover their month to month expenses. Either scenario could come about if the monthly bills were lowered, and there are a number of areas where you can save money. Following are a few tips for lowering your monthly bills.
Insurance Payments
Making insurance payments is a fact of life for most people. Home, health, life, auto–the list is extensive. To lower your payments you can bundle the policies; most insurance companies will reduce the overall payments if you combine your policies. You can also raise your deductibles, which will lower your premiums. Another option is to reduce your coverage. There are some caveats involved; for example, you may have some out-of-pocket expense if you need to file a claim.

Heating Costs
There are a number of ways to save on heating costs. Even though there is some initial expense, installing new storm windows and doors will help insulate the home and prevent leakage that robs heat. In extremely cold weather, you could block off rooms that aren’t used very often. This can be accomplished by hanging heavy drapes or blankets over the doorway. Lowering your thermostat a few degrees can add up to a substantial savings as well.

Electricity
The single best method of cutting back on your electric bill is to reduce your use of electricity. One way to do this is to turn off lights in a room when no one is in there. Instead of using high wattage overhead lighting opt for a low wattage light over the chair you’re reading in. In the same way you can turn off other electrical appliances when they’re not in use. Does the TV really have to be on all day even though you’re not watching it?

Telephone Service
With the advent of cell phones, especially with the improvements that have come about in recent years, the use of a land line telephone may not even be necessary anymore. A lot of people are simply removing their landlines and using a cell phone exclusively. If you have a cell phone anyway, this may be a viable option. Barring the removal of the landline, you can still save a bit of money by finding out if your carrier is offering any specials. A lot of people have a landline for local calls and use their cell phone for long distance.

Internet Service
There are many Internet providers. Because of that, the business is extremely competitive. As a result, the providers are constantly running specials to lure customers from their rivals. By doing a little shopping you may be able to get a special rate. Another way to reduce your Internet service rates is to lower your connection speed. If you can put up with slower download times you could end up with significant savings.

Cable or Satellite Television
Although a great many people grew up with only three stations or none at all, most households nowadays enjoy the convenience of cable or satellite television. To be able to spend hours flipping through a variety of channels that offer everything from news to sports to entertainment is accepted as the norm. To save money on your cable or satellite bill, you may have to shop around. As with Internet and telephone service providers, the cable and satellite television business is exceptionally competitive. By talking to a variety of companies you may be able to get reduced rates. In fact, by combining your television, telephone, and Internet bills you can save a great deal of money.

Gasoline or Travel Expenses
The best way to save money on gasoline or travel expenses is to simply stay at home. In most circumstances that’s not a realistic answer to the problem–but you can cut back on the costs associated with travel by not driving any more than you absolutely have to. You can also save money by trading in that old gas guzzler and buying a more fuel efficient car.

Taxes
Saving money on your taxes is as simple as contributing to a 401k or an IRA. Doing so will not only lower the amount of money you pay for taxes but will also provide money for your golden years. You may also be able to save a bit on taxes by itemizing your deductions. Consulting with a tax attorney or your accountant could provide you with other ways of saving on your taxes.

Food Costs
One of the best ways of saving money on the cost of food is to limit the number of times you eat out. Shopping frugally and preparing your own meals is sure to save you money. Instead of buying national brand canned foods, you can save money by buying store brands. Buying in bulk can also save a lot of money.

Mortgage Payment
If you can receive a lower interest rate it may be in your best interest to refinance your mortgage. You could also ask your lender for a loan modification loan. Due to the number of loan defaults lending institutions are more than willing to work with trustworthy people. There are many varieties of loan modification loans, and you can find out about them by consulting with your lender.

Guest post from Jessie Mars. Jessie writes about free insurance quotes for InsuranceQuotes.org.

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