Save on your bills
A good practice to develop is checking how much you are paying with each of your service providers at least once a year. Contracts such as your gas and electricity are often renewed automatically without taking into account the best deal for you, so it pays to check with your supplier. You can do this over the phone or simply enter your usage onto an online comparison site to see if there are cheaper tariffs available.
You can also save money on your mobile phone bill by checking how much data and minutes you need compared with how much you are paying for. You may benefit from paying less each month by reducing your usage.
Alternatively, if you have been a loyal customer your mobile provider may also agree to continue your existing package but at a lower price. Many companies are happy to reward long-standing customers, so there is no harm in asking.
Reduce Energy Consumption
A great way to save money on your monthly bills is by reducing your family’s energy consumption. There are a number of ways you can save energy such as:
- Switch to energy-saving light bulbs and turn off lights
- Load the washing machine and dishwasher fully each time
- Install energy-efficient appliances
- Unplug unused electronics and switch off standby mode
- Take shorter showers and fewer baths
- Turn off the faucet when shaving or brushing teeth
Take Advantage of Discounts
Save money by taking advantage of discounts when doing the weekly food shop. Rather than sticking to your usual brand, see if a competitor has an offer such as ‘half price’ or ‘buy one, get one free.’ Another way to significantly reduce your grocery bill is by opting for the supermarket brand rather than the big name brand.
If you are a regular customer of one or two supermarkets check if there is a loyalty scheme which you can join. This might entitle you to points on each shop which you can redeem once they have accrued. It may also reward you with coupons which you can use on your weekly shopping. Sites such as DontPayFull.com also offer coupon codes for many stores.
Eat at Home More
Your monthly bills can be significantly reduced by cutting down on ordering in and eating out. Studies show that the average U.S. family wastes $1,866 worth of food each year. By planning your meals you can also ensure you only buy what you need, reducing any unnecessary purchases.
With these four money-saving tips, you’ll soon see the benefits to your bank account.