Save Money on Bills

When most people think about saving money, the bills usually get categorized as part of the problem. But with a little bit of tweaking they can be used to help you save each month in a big way! Here are my top ways to save money on bills:

Check your bills for errors – Companies and creditors are like the rest of us; we tend to make mistakes. Take them to task for it. Not only will it save you on undue charges, it sometimes will net you a free credit with the company in question!

Bank Online – Online banking will will give you several benefits that are not readily seen at first. You get the advantage of setting up automatic bill pay, the elimination of stamps and envelopes, and a huge reduction in the number of checks that you write. In addition, several banks have a rewards program on the debit card that they provide with each account!

Refinance your mortgage – This might not make financial sense for everyone, but for some this is can pay off handsomely. Please make sure to use a reputable lender as refinance scams are everywhere these days.

Get rid of your car payment and go pre-owned -Making payments on something that loses half of its value when it drives off the lot has never made sense to me. And leasing is even more insane. Quality used vehicles can be found by shopping around as well as judicious use of CARFAX. (When I need to purchase I sign up for month long subscription as to get the most bang for my buck).

Lock down your energy consumption – This one gets passed by a lot but it just makes good sense to follow. Fixing leaks, turning down the heating/cooling, and the like can reduce your bills significantly. Take the time to try it out and watch those prices tumble.

Kill your phone line – When was the last time that you actually used your home phone? Why not eliminate it completely and utilize your cellphone instead? If your concerned with being hassled by creditors just subscribe to a service like Google voice and make that your home number. If you must keep the line for the likes of young children you can still save money. Either cut down on the number of services included by your carrier or switch to a voip company like Vonage.

Tame your TV – Still paying for premium TV channels, subscription service DVDs, or trips to the video store? Take a few minutes to try this exercise then. Figure out how many movies you actually watched in the past month with each service and divide that by the total cost. Pretty scary eh! Consider using Redbox to get your movie fix on the cheap.

Creditor have you on the ropes? Pay something! – Our last tip can be used for most creditors on closed or delinquent accounts. When you receive your first bill from them figure out what you can afford to pay. Then simply pay that amount every month consistently! In most cases they won’t even try to contact you as they are happy to be getting whatever they can for the account. When you have finally paid the bill out, be sure to contact them and have them send you a written copy that the debt has been paid in full.