Our lives are so busy these days with spouses, kids, pets, work, housework, homework, kid’s games, and practices. It’s enough to just keep up with our own responsibilities let alone make sure everyone else is doing their job correctly!
Unfortunately the latter is also true, we have to stay on top of companies that we pay monthly to make sure our money isn’t being wasted so you can meet your financial goals.
Ways To Save Money Each Month
Over the years I have definitely learned a expensive lessons in this area. We have learned the hard way to NEVER turn your back on the phone/cable/internet/electric companies.
Maybe your home internet cable bundle looks a lot like ours: so many pages with a ton of tiny charges throughout.
Just trying to read it can be exhausting, and then trying to determine what all those extra charges are… who has time for that?! But, if we want to use our money wisely we have to be familiar with our bills and know what they say.
I have often seen the same charge different pages of the SAME bill. I will call and speak to the customer service agent and they will tell me it’s one charge but, it’s listed twice on the bill… and I suppose I am also paying for the paper these are printed on?…
In my opinion they do these things to confuse us and keep us from wanting to examine our bills closely. Again, that’s just my opinion, but, I don’t think I am far off.
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Years ago, before we learned any better, we used to pay the bills and not examine them closely – especially the cable and internet bundle. Then one day the bill was just ridiculous and I called customer service to see what we could do about it and why it was so high because I couldn’t make heads or tails of the 20 pages… I had to find a place where we could cut this bill down.
After speaking with a billing specialist and examining the bill and also the history of our account, we found that I was being charged a large amount each month for a service I never ordered and was never made available to me!
We went back several months to the beginning of when they began charging me for this service, and they removed, it and issued a credit for the months I had paid for it. Once that was removed they actually owed ME SO MUCH MONEY! So, for 3 months we didn’t have a phone bill at all. Lesson learned!
Needless to say we stay on top of it now. Let’s look at how to save a large amount of money monthly starting NOW:
Use Your Calendar
Companies are forever offering new deals and specials. It’s not only a good idea but it’s also important when you sign up for a new contract or deal that you know when it expires, so that you can call in before then and find out what new deal or contract you can get.
A couple of years ago, our electricity bills were SKY HIGH. We attributed the energy use to the Texas heat, we called the electric company to see about getting some financial help with it, and we found out our “deal” had expired. We were paying a MUCH higher rate – all because we didn’t realize it had expired. Once we learned this, we were able to get lower rates from our energy provider and immediately have a lower electric bill.
Just recently I looked into a company that finds you a better price on your electric bill, they came back and said the only thing they could find was twice what we are locked into now… so, check those contracts and deals.
Investing in a smart thermostat can also help lower your cooling and heating bills, especially during the summer and winter season.
Seek Out Specials
We now make sure we call our utility companies every few months to see if we qualify for a special and/or best deal or if there are any big or small changes we can make to our bill to make it better. This is a good way to get exclusive deals you wouldn’t have gotten otherwise.
For the last 2 years we have gotten Netflix FREE through a special our mobile phones company and service provider offered. Don’t be afraid to ask – Hubby a company called back once after we purchased something because he saw the next week it had a new deal and with an added special offer we didn’t get, he asked for it and they said ok, and we got it.
Speak To A Specialist
Most companies have billing specialists whose job is to find you a cheaper deal. They would much rather give you a better deal than have you switch to another company.
Talk to someone in customer service who can offer suggestions on how to lower your bill, and ask for someone else if you feel you aren’t getting clear and direct answers. With all the money you save in the long run, you can start working toward your long-term goals.
Search Out Competitor Offers
Know the deals other companies are offering and use that to your advantage when talking with a specialist. So, you can negotiate a better deal to get you extra dollars in your pocket, it’s YOUR money! Make sure to add the date your new deal expires to your calendar.
Know Your Bills
Always make sure you know exactly how much all your bills including each of your utility bills should be each month. Then you’ll be clued in right away when it comes in too high and you’ll save yourself a lot of headaches in the future. The average American tends to pay more for their bills than needed.
Stay Informed
Be sure you understand the terms of the contract or offer, and if the rate will increase, by how much, and when it expires. It’s your money – don’t waste it on higher rates. You wouldn’t pay $20 for a Starbucks coffee. You KNOW you can get it cheaper elsewhere.
Why would you pay more than you have to for any of your bills? This is a good place to start since it alone saves lots of people extra money.
Read
Read your bills – every time they come in. This will save you tons. It gives you time to catch the mistakes before they take hold. It also gives you time to contemplate if you actually needed to purchase more gems for Candy Crush that many times last month… ijs… lol
This is the easiest way to save on all your bills, and with the large sum of money you save from those little purchases, you can put that toward a rainy day fund or toward your savings goals and emergency fund.
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Stay In Touch
Call often to re-negotiate your contracts or bill. I call the internet/cable tv company every 3 months.
They are forever changing offers and adding new ones, so keep up, sometimes they don’t tell you.
Know The Fees
Be sure you know what the late fee are and exactly when that fee is applied to your account. If you run late, know the cut off date and the consequences.
Often the turn on fee is much higher than it needs to be so, have all of the info. Knowledge is power and will help you make better decisions.
FAQ: Monthly Bills
Q: How can I save money fast in a month?
Answer: There are many ways you can save money fast in a month. Some methods and simple changes you can make include starting a budget for your household expenses (It doesn’t have to be a tight budget) and planning your meals out.
Also, sticking to your shopping list and learning how to coupon is also a great way to save fast, but the fastest way to pick up a side gig includes walking dogs, pet sitting, cleaning homes, and babysitting. For more remote options, call centers are always hiring.
Q: What are typical household bills?
Answer: The typical household bills and average household budget include:
- Mortgage Payment/Rent
- Energy costs
- Gas
- Water
- Cable/Internet service
- Auto insurance
- Homeowners insurance
- Health insurance
- Car payment
- Phone service
- Life insurance
- Maintenance costs
- Auto loan
Q: What is the 30 day rule?
Answer: The 30-day rule is a money-saving trick where you wait 30 days to buy anything nonessential. If you still want it after 30 days, you can go ahead and get it.
Q: What are 5 tips for saving money?
Answer: The top 5 simple tips for saving money and extra cash are:
- making a budget
- keeping track of your expenses
- avoiding impulse buys
- comparing prices
- using coupons and offers
Q: How can I save money if I don’t make a lot of money?
Answer: For how to save money, if you don’t make a lot of money or live in low-income households, shopping on sale and stocking up on sale items is a big way to save.
Another easy way is by cooking at home. Meal planning will give you big savings on your food and grocery budget, buying reusable items instead of single-use, not falling victim to impulse purchases and keeping track of your spending habits.
Lastly, using coupons is the most popular way to save. Plus, it doesn’t cost you anything.
Q: How do I make a monthly budget?
Answer: To make a monthly budget and spending plan, you first need to make expense categories for your monthly expenses and look over your bank records and bank statements to see how much you spend in each category.
Then drop the price for the budget but don’t go crazy. You want your budget to be attainable. Making an expense tracker will help with this.
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Q: What is the 50 30 20 budget rule?
Answer: The 50 30 20 budget rule is where you divide up your take-home pay and monthly income after tax and spend it according to 50% on needs, 30% on wants, and sock away 20% to savings.
Q: What are common living expenses?
Answer: The common living expenses are:
- Mortgage Payment/Rent
- Groceries/Food
- Pet care
- Monthly Memberships such as Amazon Prime and your gym membership
- Energy bills
- Gas
- Water bill
- Cable bills/Internet
- Car insurance
- Health insurance
- Car payment
- Cell phones bill
- Student loan debt
- Streaming services
- Transportation costs
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