Lower Monthly Bills

In the wake of the recent global economic meltdown and downsizing that is sending shivers down the spine across the globe, it is imperative that you take certain measures to cut daily expenses so that you can increase your savings and be on the safe side. This will help you to tide over the economic recession that has sent the financial market into jitters.

In this article I will provide 10 tips to lower your monthly bills and the money that is saved can contribute to your savings and keep you financially stable when big shots in the corporate banking and finance sector are crumbling like a pack of cards.

Credit Card Bill

First and foremost you have to reign in your reckless spending habits which are to some extent, encouraged by credit cards. You can also call up your credit card company and request them to offer you the reduced rate of interest that has come into effect since the federal rate cut.

Electricity Bill

Run a check through your electrical fittings to repair any irregularities that might have minimized efficiency, clear the coils, conserve energy, don’t keep the lights on needlessly, don’t use the AC or heater or other electrical appliances needlessly, go on a spring clean round the house and clean the hot air ducts, lint collector of dryers etc which will maximize output. All these will ensure that your electricity bill is reduced significantly.

Insurance Bills

Do a thorough homework in the internet before selecting an insurance company and grab hold of one which will offer you the cheapest deal, other conditions being favorable. If you often have to head for the hospital or run up credit card dues, it’s time to think about medical bill consolidation, credit debt bill consolidation, student loan consolidation and other kinds of bill consolidations that can significantly lower your monthly expenses.

Water Bills

Conserve water instead of wasting it. Fit a filter or water purifier in your home for the water you drink instead of purchasing bottled water which can be expensive. Maximize the efficiency of your water heating equipment.

Gas Bill

If you use low octane gas you can save approximately 30 cents per gallon. So it’s best to give premium gas a miss.

Computer Bill

Go for a package and make bulk purchases when buying computers/laptops, internet, cable and phone plan. You will get great discounts.

Mortgage Bill

Your best bet is to opt for refinancing and a low fixed rate of interest when the economic cyclone blows over.

Phone Bills

Opt for a service provider which offers free services within the same circle and reduced rates for intercircle groups. Go for schemes like free text messaging, reduced night rates etc. Put a curb on your chatting sessions through mobile conversations and opt for instant messaging through internet which is way cheaper than phone calls.

Entertainment Costs

You have to cut your recreational expenses like fine dining, watching movies at multiplexes, going out for vacations in exotic destinations, traveling first class in aeroplanes, endless shopping.

Family Expenses

Reduce your grocery budget, cut out all unnecessary things and frills, clothing costs, baby care costs, transportation costs etc.