When it comes to bills, it’s easy to feel overwhelmed. There’s the rent, the power bill, the phone bill, the cable bill… and so on. The good news is there are easy ways to save money on every single one of these bills—and the key is to start small. Here are seven ways to drastically cut monthly expenses:
There are a number of money-saving tips you can use to help cut your monthly expenses. These include a few simple tricks to cut your cable television bill, as well as a few tactics to get the most out of your utilities.
We all struggle with the high cost of living. The cost of living is so high that it can be difficult to find ways to save money. However, there are tons of ways that you can save money, and right now you don’t have to compromise your lifestyle.
Do you want to save money on your bills? Don’t spend 45 minutes on hold with customer service (i.e. being passed from one person to the next) in order to have a bill reduced. There are less difficult options. Check out these time-saving tips for saving hundreds (if not thousands) of dollars on your monthly expenses each year. Are you up for it?
How to Save Money on Your Bills
Reduce Your Wifi Costs
Trim is a free service that handles all of your bill negotiating for you. What is the mechanism behind it? A live person will call your service providers to negotiate your bill (this includes Wifi, cable, phone, and even medical expenses).
Trim will not charge you anything if it is unable to reduce any of your expenses. The service is completely free.
Trim, on the other hand, will almost certainly discover a method to reduce a cost. And if they do, you’ll get to retain 66 percent of your savings the first year and 100 percent every year following that.
Please keep in mind that Trim accepts money right away. Trim, for example, would seek their 33 percent charge ($40) immediately away if they save you $10 each month. After that, though, you retain 100% of your money.
Here’s where you can download the free Trim App to help you save money on your expenses.
“Assist me in getting out of poverty!”
Spending less than you earn is the *only* method to save money. That implies you’ll either need to cut costs or raise your revenue.
We aim to assist you in achieving both goals.
Learn the basics of building wealth at our FREE Simplify Money Workshop. Because your money has no option but to increase if you can spend less than you make. You will increase your savings and reduce your debt.
Plus, there’s more. We’ve compiled a list of free money-saving tips for you:
- How to Cut Your Monthly Bills in Half
- Debt-reduction strategies
- How to Get Started Investing
- How to make an additional $20 each month with a few simple hacks (with no extra effort)
This session will provide you with everything you need to follow the cardinal rule of personal finance: maintain your income higher than your expenditures.
Start increasing your money now by enrolling in our free 5-day Simplify Money Workshop.
Reduce the amount of money you spend on groceries
Food is one of the most expensive budget items. Take a look at these suggestions to help you save money on food.
- Make a shopping list: Grocery shops encourage you to purchase things on the spur of the moment (and they strategically display certain foods in certain locations to make that happen). Don’t be caught in their web. Stick to your shopping list and purchase just what you need.
- Make a food plan: Know what you’re going to cook and make a shopping list around it.
- Cook more than you can eat: When cooking a meal, you SHOULD cook more than you can eat. That way, you’ll have two or three additional meals prepared. This is a big time and money saver.
- Use the Ibotta app to earn cash back on your grocery purchases.
Ibotta (iOS and Android) is the most popular “cash-back on groceries” app. Every year, the typical Ibotta consumer receives $150 in cash back incentives for purchasing goods they would usually buy.
Free money will help you save money on your groceries. This is how you “clip” coupons in the digital age. Choose what you want, go to the shop, scan your receipt with the app, and watch your cash back benefits increase.
Get a $20 bonus by signing up for Ibotta via our special Budgeting Couple link.
In this Ibotta explanation video, you’ll learn all you need to know about the app.
So, if you like getting free money… Here’s a $20 gift card to check out the Ibotta app for free! (Use our link to get a $20 referral coupon)
Reduce Your Electricity Bill
Have you thought about changing your energy provider? It may help you save money on your energy bill.
Visit electricityrates.com for more information. This website can assist you in comparing energy suppliers in your state. Simply enter your zip code and the lowest rate provider, and electricityrates.com will automatically move your house to its new power grid.
It is not necessary to contact your local utility. There are no power outages in your house. Your house will automatically switch to your new provider, and you will get a reduced bill.
To check whether you qualify for a reduced energy cost, go to electricityrates.com.
Reduce the Cost of Your Home and Auto Insurance
You’ve probably seen the commercials: “Call now and save X% on your house and car insurance.”
Except there are 40+ insurance firms all claiming to be able to offer you the best deal. Do you wish to contact each of the forty businesses? No, I don’t believe so.
Gabi is a quick and easy method to save money on your home and car insurance. Simply supply them with the details of your insurance policy, and they will compile a list of top carriers that provide similar coverage at cheaper prices.
Choose the lowest cost for the coverage you need, and make the switch right now. Gabi will even terminate your previous insurance coverage.
Switch your house and car insurance to Gabi.com and save hundreds of dollars each year.
How can I significantly reduce my spending?
You may slash your costs significantly by doing one thing: eliminating any needless expenditures.
- Do you really need cable TV when Netflix and Hulu are available?
- Is it really necessary to have Netflix and Hulu subscriptions at the same time?
- Why pay for internet speeds of up to 1,000 megabits per second when you only need 100?
- Stop eating out and instead remain at home and make your own meals for a considerably lower cost.
- Get rid of your high, unlimited cell plans and find a more affordable one (we like AT&T Prepaid).
- Get rid of any subscription services that aren’t being utilized. Do you really need both Pandora and Spotify subscriptions? And when was the last time you used your Audible subscription to listen to an audiobook?
9 Things to Stop Buying to Save Money Quickly
The first step in saving money is to avoid making dramatic cutbacks. Making a slew of tiny cuts is the first step. What do you think you don’t require? The methods outlined above will enable you to save $300 each month or more, resulting in a $3,600 annual savings.
Here are some additional ways to save money on your bills:
- If you have a mortgage, you should consider refinancing it.
- Is it possible for you to take on a roommate and share your expenses?
- If you have two vehicles in your family, think about whether you need both; if not, sell one.
- Can you drive less and walk, ride a bike, or carpool more if you have a car?
- Consider selling your car and purchasing something more affordable if you owe a lot on it.
- Get a credit card with cash back incentives. 2% cash back on everything adds up to a significant sum of money.
- Stop eating out (restaurants and fast food)
- Keep the lattes to yourselves.
- Ibotta may help you save money at the grocery store.
- Electricityrates.com can help you save money on your energy costs.
Here’s a rundown of some of our favorite cash-back apps:
- Ibotta may help you save money at the grocery store.
- While buying online, Ebates/Rakuten will give you cash back (you will love how the browser extension works effortlessly to notify you of cash back opportunities)
- Dosh connects to your debit or credit card and gives you cash back every time you swipe your card.
More money saved! Take a look at the following…
Spend Less at Your Favorite Stores:
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In today’s economy, almost everyone has a budget. But it’s getting harder and harder for people to live within their means. Why? Because savings rates are at record lows, and the cost of living is constantly rising.. Read more about cutting expenses to the bone and let us know what you think.
Frequently Asked Questions
How do you drastically cut expenses?
One way to drastically cut expenses is by not spending money on things that you dont need.
How can I lower my monthly expenses?
There are a few ways to lower your monthly expenses. One way is to reduce the amount of things you buy each month, so that you dont have as much to spend on. Another way is to find ways to make more money, such as finding a second job or selling items on Ebay.
How can I get my bills lowered for free?
Unfortunately, there is no way to get your bills lowered for free.
This article broadly covered the following related topics:
- how to drastically cut household expenses
- cutting expenses to the bone
- how to reduce expenses and save money
- how to drastically cut expenses
- 100 ways to cut expenses