Saving Money on Your Bills Comments8 Comments

Paying bills is fact of life and sometimes depending on different circumstances, it can be very difficult to meet your repayment obligations. If you are finding it difficult to pay your bills, there are numerous things you can do. If you are in dire need of assistance, take advantage of the different grants and benefits available through the government and non-profits. Low Income Financial Help is a great resource which quickly outlines financial options available at a State and Federal level.

If your situation is less pressing, below are some great tips on how to help reduce costs, allowing you to get on top of your bills a bit easier.

Rent: Rent is almost always one of the bigger family expenses. Whether you live in an apartment or a house, you’ll likely spend at least twice as much on your rent than any of your other bills. There are a few ways to reduce your rent payments. The first is a possible negotiation with your landlords, trade labor for a rent reduction; extend terms/lease – If you’re a great tenant, they won’t want to let you go. Moving is always another option, look for a smaller place or different location.

If you own a home, you could consider refinancing your loan. This can provide some relief with your monthly repayments and when your financial situation changes, you can always apply more towards your principal to help pay off the loan quicker.

Car: The best way to lower your car payment is to get rid of your car – if possible. Public transport can be a cheaper alternative to the ongoing costs of a vehicle. If however you have to have a car, get one that is cheap to run and has a good reputation for reliability. A cheap car which constantly has maintenance issues will just continue to cost you money.

Utilities: You can save several hundred dollars a year on your utility bills by making small changes around your home. For example: investing in energy efficient appliance and light bulbs, shutting off lights when you leave the room, unplugging televisions, radios and gaming systems when they aren’t in use and running your dishwasher and laundry during off peak hours.

If you’re up for a little effort, save on your water bill by collecting rainwater in tanks and use it to water your lawn and plants.

In addition, talk to your gas and electric company about having your home inspected for other easy ways to lower your monthly bills.

Food: There are so many ways to save money when it comes to food. Eating in more, buying in bulk, couponing, packing a lunch.

Entertainment: You don’t have to always sacrifice lifestyle to save money. There are numerous activities you can do which are low cost or free. Get outdoors and enjoy the beach, mountains or whatever type of environment you live in. Checks with your local community center to see what type of free events are on.

Make saving money on your bills a priority and it will become second nature. When you challenge yourself to see how much you can save each month, it becomes less of a chore and can reduce financial stress. Being in control of your finances is a great feeling and anyone can do it.

If you enjoyed this post, please consider or you are welcome to leave a comment below.
This entry was posted in Financial Advice, and tagged Comments8 Comments
By : Adam | 3 Dec 2014
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8 thoughts on “Saving Money on Your Bills

  1. Joseph Hogue

    Some solid tips. Rates for home mortgages are still ridiculously low but may not be that way when the Federal Reserve raises rates next year. Using a refinance to pay off higher-interest debt just makes sense.

  2. Dave @

    All good advice. We did many of these things after my wife lost her job a few years ago. Of course the biggest monthly bill of all for most of us is the grocery bill. We are far from those insane people on the extreme couponing shows, but we have found that it is easy to save quite a bit just by watching for good coupons for things we actually buy (we never buy something just because we have a coupon), and by comparison shopping around town.

  3. Lance @ Healthy Wealthy Income

    We save over $1000 a year on utilities compared to our neighbors. Just dropping a few degrees in winter and keeping windows open in summer along with watering one less day is totally worth having an extra grand around. Love money more than 1-2 more degrees in the winter.

  4. Mrs. Frugalwoods

    All great tips. With utilities, I find that simply using them less saves a ton. I do fewer loads of laundry now and, we keep our heat set at 62 during the day and 58 at night. We also have a low-flow showerhead and hardly use our AC in the summer (doesn’t get too hot here in Boston). With a bit of focus and effort, reducing your usage will greatly reduce your bills.

  5. Brian

    All good tips– it’s never a bad idea to apply a mix of tips like these to alleviate financial burdens during times of hardship (or even just in general). Thanks for sharing.


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