Minimize the cost of running your home when you use the following tips to save money on those everyday expenses.
1. Combine services
It isn’t only your cable service that offers bundling. Once you are done combining your Internet, phone and cable television into one package, move on to other services that be combined in order to save money on your monthly expenses. For example, you can combine your home and auto insurance for a lower overall rate.
2. Pay your bills on time
That $5 or $10 a month may not seem like much, but in the course of a year and through several bills it can really add up. Paying your bills late may not only result in late fees but also rate hikes. Do yourself a favor and make sure that your bills are paid on time to avoid this money drain. You can make this easier by setting up some of your bills to be paid automatically each month.
Take a look at your existing bills and see exactly what fees and services you can eliminate. For example, does your cable bill include a fee for Spanish-language channels when you don’t speak or understand Spanish? Are you paying extra for call forwarding or call waiting when you never use it? Perhaps there are banking fees that you can eliminate as well.
4. Reduce insurance costs
You can usually slash your auto insurance premiums with a simple phone call. Ask if there are discounts that you are not using, such as low milage, a safe driver bonus, etc. The Internet makes it easy to compare the rates posted by different insurance companies, so you can find the best deal for your needs.
5. Refinance your mortgage
Mortgage rates continue to drop. Take a look at current rates and see if it makes sense for you to refinance to a lower rate. You will probably wind up paying less per month. If you can reduce the time left on your mortgage, even better. You’ll pay it off sooner and spend less money on interest.
6. Clip coupons and be a smart shopper
Groceries can be a big expense for most families. To reduce this everyday expense, learn ways to save money at the grocery store, such as using coupons and shopping for generic products. Buying groceries in bulk is another good way to reduce the cost of feeding your family.
7. Reduce the cost of prescriptions
You can reduce the cost of prescription medicine in a number of ways. Ask your doctor if you can switch over to a generic rather than a name brand. By law, generics have to be just as effective as name brand medication.
Using your prescription plan’s mail order option can often save you money on medicine as well. You can usually order up to three months worth of medication at a time, saving you time as well as money.
Finally, do some research and check for coupons. There are several available to help you reduce the cost of your prescriptions.