Let me just say that living paycheck to paycheck sucks! I know because I’ve done it for the majority of my adult life. I’ve had to learn to adapt and overcome by drastically cutting household expenses and reducing my budget.
Below you’ll find 15 ways to drastically reduce your household expenses and lower your bills, fast!
To lower your bills quickly, a simple phone call to your providers should do the trick. However, if time is not of the essence, might I suggest looking into Trim?
Trim can find and cancel subscriptions that you might not know you have; it can also negotiate your cable and internet bill for you. Pretty cool, eh?
Ways to Save On Home Utilities
1. Lower Your Cell Phone Bill
I consider a cell phone a home utility because it is one in my home. We’ve completely done away with a land line and solely rely on our cell phones. You can contact your provider and ask for ways to reduce your monthly bill or, if your contract is up, look into a different provider all together.
Republic Wireless is a great, no contract, cheap option with great coverage. They’ve partnered with two of Americas largest nationwide 4G LTE networks to make sure you’re covered. If you aren’t happy, no harm-no foul, because they’ll give you your money back with a 14-day guarantee.
2. Downgrade Your Cable or Satellite Service
Do you really need all of those channels? I’m guessing no.
If that’s the case, call your provider and ask to downgrade and your wallet will thank you.
3. Adjust Your Thermostat
Depending on you climate and fuel type, adjust your thermostat to save on electricity.
Here in Pennsylvania, even though it’s April 1st, there was a layer of snow on the ground this morning. *insert eye roll* While I’d love to have the thermostat set at a toasty 74°, 68° is more energy efficient.
Likewise, if you have the AC running right now, turn the temperature up a few degrees and reap the rewards.
4. Lower The Temperature on Your Hot Water Heater
According to Mr. Rooter, every 10 degrees that you turn your hot water heater down, you’re saving 3% to 5% on your energy bill.
Most manufacturers have a default of 140° so even going down 10 degrees will have an impact.
5. Save on Insurance
Give your insurance company a call and consider raising your deductible to give you a more affordable monthly payment. Likewise, talk about bundling and saving or shop around for a lower rate.
Ways To Save On Finances
6. Pay Credit Cards On Time
Lordy, this is super important. Late fees along with interest can add up quickly. Alway pay your credit cards on time to avoid losing money you may not have.
7. Don’t Overdraft Your Bank Account
According to MarketWatch, Americans paid an incredible $34 BILLION in overdraft fees in 2018. That is a mind-blowing amount of money.
Depending on your bank, you could be charged upwards of $37.50 per occurrence, which clearly, will add up quickly.
8. Check Your Interest Rate
Check the interest rate on your credit cards and consider consolidating or a no interest/no fee balance transfer.
Other Ways to Save On or Cut Expenses
9. Lose The Gym Membership
My local YMCA has an adult annual membership at $336 per year.
As an alternative, go for a walk and get some fresh air. Lift weights at home and go for some calisthenics instead!
10. Save On Gift Wrapping
We just celebrated my daughters 9th birthday and with over 30 kids attending her party, we sure did have a lot of gift bags and tissue paper.
As soon as we got home, I flattened out all of the paper and folded the bags. They’re now nestled in a tote under my bed to use again. 🙂
11. Create A Gift Closet
Here’s one of my articles on Creating a Gift Closet. They sure come in handy in a pinch and will have you feeling like supermom all while saving money!
12. Shop Generic or Make Your Own
There is nothing wrong with buying generic. Not one thing. In fact, by buying generic you’ll be saving money when buying anything from groceries to cleaning products to medicine.
I like to take it one step further with cleaning supplies and make my own. My windows have never looked so good, here’s the recipe I use!
13. Clean Your Own Home
This is probably my least favorite thing to do. Ever. But, doing it yourself can save you at least $280 per month, which ends up to be $3,360 per year.
That’s a big chunk of change to cut from your homes expenses.
If you and a co-worker live in the same area, taking turns driving to work each will cut your gas expenses in half.
15. Cut Out The Bad Habits
Quit smoking or using chewing tobacco and you’ll save hundreds of dollars each and every month. And in the long run, you could also be saving on medical bills.