Generally speaking, I feel that my financial life is under control. My income is reliable, and I’m able to set money aside for retirement and other savings goals regularly. However, that doesn’t mean I don’t appreciate it when I can get more room in my budget. Since that’s the case, I seize bill-lowering opportunities whenever they arise. Here’s a look at how I lowered all of my bills.
Lowering My Bills
My first step toward lowering my bills was to contact every company directly and ask about savings opportunities. For instance, I made sure I was getting all of the price reductions I was due for my home and vehicle insurance. I spoke with my cable company to review the package to ensure I had the right options based on my needs.
Ultimately, it takes some time to review every bill and learn about changes that may lead to a notable cost savings. However, even if I’m not able to reduce every cost I deal with monthly, I’m usually able to make enough changes to ensure the effort is worthwhile.
After I was done, I decided to cut some phone services that weren’t providing me with any real value. Additionally, I scaled back on some cable channels, bringing one of my larger monthly bills down dramatically. In total, that gave me far more room in my monthly budget, making it easier to continue down the path toward long-term financial wellness by effectively eliminating some wasteful spending.
Stabilizing My Budget
After I lowered as many bills as possible, I went the extra mile to create some stability in my monthly budget. One of the biggest moves I made was contacting my utility providers to discuss bill averaging. With the bill averaging service, my electric and gas payments remain the same from month to month for an entire year. Since that’s the case, I don’t have to worry about unexpected highs derailing my plan.
I also keep an eye open for any communications about price increases. For example, shifts in local tax rates may alter my monthly utility costs. Similarly, service providers – including cable and streaming services – may have rate increases along the way. Since that’s the case, I make sure to review notes on statements or stay on top of my associated email accounts. That way, I can see a change coming and can adjust my budget accordingly.
Staying On Top Of My Budget
Staying on top of my budget is always a priority, and having that attitude has served me well over time. While I’m happy with the progress I made in that regard, I know it’s not the last time I’ll make these efforts. By going through the process regularly, I may find more ways to save, ensuring I can keep my budget under control long-term.
Have you used strategies like those above to lower your bills and want to tell others about your experience? Did you try a different method and want to provide insights to those looking to reduce their expenses? Share your thoughts in the comments below.
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Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.