Quick Ways to Cut Your Monthly Bills

Does it seem like every month, you’re paid your wages, only to have all of the cash immediately disappear from your bank account within the next couple of days? Many of us today find ourselves living from pay to pay, desperately wishing that we had more money to spend on the things we enjoy or put into a savings account for the future.

While some people assume that the only way to get their hands on more cash is to reduce their spending on the things they enjoy most, the truth is that you don’t have to give up what you love to live a healthier life financially. The following quick tips could cut your monthly bills and put more money in your pocket.

1.    Don’t Buy Things You Don’t Need

As obvious as this idea might seem at first, you’d be surprised how much we all spend money on things that we don’t really want or need. Start your money-saving strategy by looking at your bank statements and marking down anything that you pay for on a subscription basis. Subscriptions are often the enemy of savvy spending because we forget that we’re paying for them over time.

Things like a gym membership that you bought in January but now never use can get cancelled immediately. If you’re paying for a home phone service, but you don’t remember the last time that you made a call without your smartphone, it’s worth getting rid of that too!

2.    Ditch the Bad Habits

Poor spending can seem like a bad habit in itself. However, one of the best things you can do for both your bank and your health is track down the real bad habits that are causing problems in your life. For instance, if you’re a smoker, cutting out cigarettes could not only help you to live longer, but it could mean that you end up with more money to yourself each month too.

On the other hand, if you know that you eat out at least three times a week, you could think about cutting down to only one treat meal a week instead. You could find that you lose weight, as well as saving some serious cash.

Quick Ways to Cut Your Monthly Bills

3.    Be More Energy Efficient

A good way to reduce your spending without giving up too many of the things you enjoy is to cut back on your energy use. Think about reducing your thermostat by a couple of degrees, or putting your washes on at a lower temperature, and make sure that you keep the tires on your car inflated too – you’d be surprised how much a flat tire can make you spend on extra petrol.

If simply being more energy efficient doesn’t seem to work, you could always look into switching your energy suppliers. You might be able to get a better deal by moving to another company.

4.    Change Your Car Insurance

One of the biggest things that people over-spend on today is car insurance. The reason for this is that people regularly stay with the same insurance provider for years at a time, without checking if they can get a better deal elsewhere. Unfortunately, most car insurance providers will reserve their best offers for new customers. That means that if you’re a loyal client, you won’t get the best prices.

When the time comes to renew your car insurance, don’t automatically stick with the same provider, go online and check your details on comparison websites. Make sure that you’re not just getting a lower price, but you’re also accessing the same level of coverage too.

5.    Take Advantage of Deals

There are plenty of ways that you can save money on your everyday spending today. For instance, you can wait for sales instead of buying an item full-price or check online for discount codes before you purchase your next big-ticket item.

Even signing up for a loyalty membership with your favourite brands could mean that you end up getting bigger discounts. The more you keep track of your opportunities to save, the less likely you are to end up over-spending on anything.

6.    Pay More Now to Spend Less Later

Although it might seem counterintuitive at first, the best way to save money isn’t always by buying the cheapest item or agreeing to the least expensive service. Sometimes, you’ll need to pay more for a high-quality item to spend less overall, as this will mean that you don’t have to keep replacing things that easily break or wear out. For instance, buying a great pair of jeans that you’ll wear for years is much better than buying multiple cheap pairs.


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