3 Ways to Save Money Each Month

money-management-1024x682In our economy, saving money has become crucial. There are so many ways to cut corners and save money and we are often overwhelmed by the information. Some things work and others don’t. How do you know what to do when you are faced with a budget that exceeds income? Here are five tried and true ways to start slashing that bill.

 Cut Back on Electric

One of the top things we recommend you reduce is your electric use. It sounds nearly impossible since we need it to power our appliances, electronics, and heat or cool our homes. But it is possible to reduce your usage. Here are a few options to consider:

  • Set an hour free of computer, television, and game console usage
  • Change all light bulbs to energy efficient CFLs
  • Turn out lights in the rooms you are not using
  • Unplug appliances and electronics you do not use on a regular basis
  • Install dimmer switches

If you are one of the lucky folks who live in a state that has deregulated electricity providers, do some comparison shopping on who provides the service at the best possible price. Call your current company and ask more about the pricing of their services, then call other local providers. Learn more online about how to save money on electricity.

Cut Back on Cable

Many homes feature cable services and it’s one of the easier bills to cut. Firstly, take note of how much of the cable you are really watching. Most people have way more channels and frills than what they use. If this is you, call the company and ask for a smaller package that includes exactly what you need in your home.

Do you bundle your home telephone and internet services with your cable bill? If not, you should be. Bundling often offers a huge discount to the customer for being so loyal to the company.

If you are bundling your home telephone and internet services, now ask yourself if it’s worth it. Many people have stopped utilizing a home telephone and just use their cell phones. So, if you don’t use your home phone often, call the company to find out what it would cost you to drop that service and switch to a different package. This is especially helpful if you have been a long-time customer as they will work to give you a better deal, they do not want to lose their customer base!

Finally, consider dropping cable altogether. Many folks now have subscription-based services like Netflix and Hulu that can be streamed on their Smart TVs and computers. Roku is an affordable piece of equipment that will connect to the internet and access all sorts of subscription-based options. Fewer commercials and you pay for exactly what you watch.

Bundle the Insurance

Speaking of bundling services, have you looked at your insurance lately? Insurance companies often offer a wide variety of services rather than target a specific area. Do call to see if you get your auto/renters/homeowners/life/health insurance bundled to save big. Insurance companies rely on your loyalty and will often provide big savings for an increase in policies. Additionally, it can save you big to do a comparison shopping every few years to see if you can lower your rates.

Saving money is important and doesn’t have to be a big endeavor. Cutting back on trips to Starbucks each month will only save you a little bit. Saving on your utilities and insurances will save you bigger. Look at those big ticket items first, then cut back on smaller items to maximize your dollar.

Save More Money in 2018

Coins 1523383 1920

Subscribe and join the worldwide 52-week money challenge! Get the tools you need right to your inbox.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Share this post:

Recent Posts

Leave a Comment


What’s the Best Free Recipe App?

The Apple Store and Google Play together offer more digital cookbooks than you probably have room for on your mobile device. So which... more →
New tax law might slow down housing market.

What Will the New Tax Law Do to the Housing Market?

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest... more →

4 in 5 Households Will Get a Tax Cut in 2018

Four out of five U.S. households will get a tax cut as a result of the legislation that President Donald Trump signed into law today. more →
Will bitcoin reach $100,000?

When Will Bitcoin Reach $100,000?

Bitcoin has accelerated its pace of appreciation in recent months, and if the current levels between $15,000 and $19,000 make you itch... more →
The Dow Jones topped 24,000 -- now what?

The Dow Jones Crossed the 24,000 Threshold. Now What?

Stocks appear to be increasing in volatility, yet the markets closed on Monday, December 4 with the Dow Jones Industrial Average is... more →
Peer mortgage

Should You Get a Peer-to-Peer Mortgage?

If you can’t get approved for a home loan from a bank, you might want to look into applying for a peer-to-peer mortgage. more →
Investment gifting is awesome.

4 Things To Know Before You Donate an Investment

While donations of any kind are appreciated, gifting investments benefits both the giver and the receiver. Here are four key things... more →
Are you wondering: What's the Relationship Between the Stock Market and Federal Debt?

What’s the Relationship Between the Stock Market and Federal Debt?

Wouldn’t it be wonderful if gains in the stock market could actually reduce U.S. government indebtedness? If that were true,... more →

How to Furnish Your New Apartment Affordably

Moving out on your own can be one of the most momentous occasions of a person’s life. It is the big step that starts you on your... more →