If your like me you want to save money, this time instead of trying to bring in more income I am on a mission to decrease the amount of money leaving my bank account every month. Lets start with the basics, there are many bills that will never be eliminated such as heat, electric, food, and water. However there are many ways we can decrease these bills in order to stash more money in your savings account.
1. Rent/Mortgage. Ask your landlord if there is a discount for paying early, if you have a mortgage check your interest rate (it might be a good time to refinance). Also shop around for insurance rates to see if you can get your monthly escrow payment reduced.
2. Heat. Depending on where you live, heat can be one of the most expense housing costs besides the rent/mortgage payment. Add an extra layer of insulation to your windows using a window wrap kit and a blow dryer, insulated curtains can also be used to keep more heat in. Use a draft stopped under doors going outside. Use a programmable thermostat to keep your home cooler during the day when you are away and in the middle of the night when you are sleeping.
3. Phone. Get rid of the land line if you have a cellphone already. Look at your usage and see if you would benefit from lowering your data or minute plan. Merge family phones together to save on joint packages. Ask if their are any corporate discounts for your work/school. AT&T allows you to put in your work email address online which can easy qualify you for a 17% discount.
4. Water Bill. The key in saving on your water bill is simply to use less. Quit running the dishwasher when you only have a few items. If you pre wash your dishes why not just finish washing them? Time your shower and make an effort to cut down your time or use the “Navy Shower” method. Quit flushing the toilet so much if it really doesnt NEED to be flushed. Or even better, save water from washing dishes to flush the toilet!
5. Cable. Lower your package options, or get rid of the cable and buy NetFlix or Hulu.
6. Electric. Keep the lights off and electronics unplugged! Its really about making a habit to turn off lights when you leave the room and unplug items when not in use.
7. Car insurance. Ask your carrier what you can do to make your premiums lower. Perhaps you can lower your coverage, up your deductible, or get on a 6 month installment plan instead of month-to-month. Also ask about good student, good driver, or multi car discounts. Also shop around online for rates with other carriers, tell your carrier you found a good rate somewhere else and you want to know if they can beat that rate =)