Every family wants to save money on their bills, but most parents don’t know how to go about making necessary changes to cut their monthly expenses. Saving money means you can finally afford that vacation you’ve always wanted or it could mean you can actually start building your nest egg. Here are five of the easiest ways to start saving on monthly bills:
- Saving on Electric and Gas
The easiest way to cut your monthly bills is using some energy conservation tips. In the wintertime, lower your thermostat a few extra degrees and take advantage of extra clothing layers and blankets. You can also reverse the normal direction of ceiling fans to help move warmer air down from above.
During summer months, take advantage of opening windows and doors whenever possible, such as in the early morning and after the sun has set. Use ceiling fans to help cool your home and turn the air conditioning off anytime you leave your home for an extended amount of time.
Many jurisdictions have deregulated their utility services, thereby allowing private companies to compete with former government monopolies to supply consumers with electricity and natural gas. That gives customers the power to choose in Texas, Ohio and areas of Canada, among other locales.
- Change your Insurance
Car insurance can be very expensive and car insurance in many states is an expense all drivers must pay by law. If you want to save money every month, look into changing your insurance carrier. Often, you can find a company willing to offer you the same or better coverage for a lower price. Consider bundling your home, car and life insurance together, as well.
- Cutting Cable TV
Do you really need hundreds or even thousands of channels? Many families are cutting cable TV altogether and using subscriptions to services, such as Hulu Plus, Netflix and Amazon Prime to watch TV and movies on their computers. With TVs now allowing access to the internet, you can even use your TV to watch shows and movies through these services and they are far less expensive than cable or satellite TV.
- Cell Phone Usage
Many families overpay for their cell phones because they don’t really know how many minutes they actually use. If you have an unlimited plan, you may want to look at the other plans and your usage to see if you’re really getting your money’s worth. It’s always a good idea to compare at least three different carriers before you choose a new cell phone plan.
- Monitor Entertainment
Some entertainment activities, such as taking the family to the movies, can get expensive in a hurry. This is one of the most expensive parts of any family budget and by monitoring how much you spend on entertainment every month, you can keep this under control. Seek out free options for entertainment and cheap thrills, such as activities offered at a church or school.
Cutting your monthly bills can help free money for savings for retirement, college funds, a dream vacation or any number of other things. If you put these five things into practice, you can potentially, cut your bills by a few hundred dollars a month. This can add up in a hurry and even small amounts will add up over a full calendar year.