With rising costs and every more available services many home owners have difficulties with their personal finances. This includes figuring out ways of reducing regular monthly bills. If your anything like me I get overwhelmed by recurring bills, forgotten and unused services, which ultimately leaves less money for important things such as investing for the future and going for a vacations.
Thankfully, there are simple ways of saving money on our monthly bills that don’t take a lot of time or expertise to complete. If you have 20 -30 minutes you can likely knock out an item or two on this list.
Below are simple ways to save on your monthly bills.
Having a car is a necessity for commuting to and from work but since a car is a man made machine, it requires maintenance to ensure it continues working efficiently. This means that one has to spend money on gas and maintenance costs.
One can save on monthly car expenses by sharing a ride to and from work with someone else. This will not only save on gas and car maintenance expenses but will also save time when commuting. So chat up your neighbor at work and see who is available for a carpool. Do some quick math on the amount of money you spend each month commuting and you will quickly realize the savings.
Unplug unused electric devices
Technology has led to the development of useful devices such as smartphones, tablets, smart watches, laptops and kitchen appliances among others. These devices require power to run which means majority of them will be plugged into power outlets whether they are in use or not.
Electric devices, even when they are off, utilize a small amount of electricity which in the long run will accumulate to increase charges. To reduce electricity expenses and save money in the process, you need to unplug all electric devices that are not in use.
Downgrade on your health insurance
Having health insurance is very important since it helps to protect one against the unexpected. While it is important, home owners usually overpay, which leaves them vulnerable in a different way therefore over stretching their budget and increasing stress.
To reduce money on monthly bills, you can downgrade your health insurance plan. Take a serious inventory of what value you are getting with your “Premium” coverage and if it actually makes financial sense in the long run.
Shop around for homeowner and auto insurance
As a home and car owner, if you haven’t shopped around for auto and homeowner insurance then it’s the best time to start as you can receive significant discount for bundling. Get a quote here or contact a local branch. This is highly advisable especially if your credit is strong. If you are maintaining your current coverage and at the same time can save a substantial amount, then it is good to switch to another provider.
Eliminate household services
A house requires constant maintenance in order to ensure that it retains its curb appeal. If you are used to hiring out household chores, you need to consider trimming back or eliminating the hiring altogether. This will help to save on your monthly expenses.
Instead you can set apart some time during the week especially the weekend where you can do them yourself. You can involve the whole family and make it an enjoyable time together.