The best way to save on money is to focus on your recurring expenses. And by that I mean your monthly bills. You can save money on big, one-time purchases like a car or home renovation (and you should), but saving on your monthly expenses makes a bigger difference in the long run.
If you’re looking for ways to save on bills, I wrote this blog post for you. Here, I’ll be exploring various methods and offering tips on ways to save money on monthly bills. If you’re serious and want to save money on monthly bills, read on!
Avoid Incurring Late Fees
I know times can get tough, and budgets tight. Put paying your bills on time has to be one of the better ways to cut down on your monthly spending, in addition to simply finding ways to save money on bills. When you pay your bills late, the company will usually slap a late fee on your next bill.
You might think it’s okay to have a late fee this month, but those fees quickly add up. To make matters worse, with late fees, you’re just paying for being late. You’re not paying for extra electricity, or extra groceries. Nothing. You’re simply paying the giant corporation for inconveniencing them for paying your last bill late. So if you’re looking for info on how to save money on bills, the first step is to pay those bills on time to avoid late fees. Because even if you save money on your dues, if you pay your bills late, what’s the point of trying to save? I would even recommend paying early, if possible.
Switch Off the Lights and Unplug Your Appliances
Switching off the lights before you leave the room is something we were taught when we were kids. It seems like we should have been taught that even as adults, since I know a lot of grown-ups who neglect to switch off the lights (and turn off the TV, and shut down the computer, and… you get the picture) before they head out. Well, guess what? The cost of keeping your lights on may seem negligible, but they eventually add up. One of the best, sure-fire ways to save money on bills is also one of the most basic: just keep the lights off and shut all appliances before you leave the room. It might not seem like you’re saving a lot of money, but like I mentioned earlier, it all adds up.
What isn’t basic knowledge, however, is that appliances continue to draw power when plugged in. Your TV might be switched off, but if it’s plugged in, it’s still consuming power. Again, the amount might seem negligible at first, but if you really want to save on bills each month, every little bit counts. I know unplugging every appliance every time you leave a room might not seem practical – and that’s because it isn’t. This technique to save money on bills every month is for those times when you’ll be out of the house for a few days – and it goes without saying that you should never unplug your fridge!
Find Side Hustles
If you’ve been looking for info on how to save money on bills every month, one of the best ways is to simply earn more money. And if you’re already up to your neck in chores and tasks, you’ll want a simple way to earn, one that doesn’t require too much time and effort, and something you could do while doing other tasks. And that’s why I recommend using a rewards site. Unfortunately, there are a lot of scam sites out there. Usually those sites will require a “processing” fee for you to get your earnings… if you get it at all.
And that’s why I recommend sticking to the legit sites, specifically ZoomBucks. ZoomBucks is a newcomer to the rewards site scene, but I can vouch for this site. ZoomBucks is owned by the same guys behind GrabPoints, which is also a legit site. On ZoomBucks, you earn points by completing tasks, like answering surveys, watching videos, and completing tasks. I’d like to emphasize that these are really easy to do. You can do them on autopilot while doing other jobs.
One of the best things about ZoomBucks is that payment processing only takes about 48 hours. So, if you have a few due dates for bills coming up, you can request a payout and know that you’ll get your earnings in time to pay those bills. And being able to rely on your earnings arriving consistently and early is a pretty big game changer.
Invest in a High-Yield Bank Account
Dumping money in a regular savings account is probably the first thing that comes to mind when someone mentions saving money. And that’s great and all, but after you’ve saved a certain amount, it might be better to invest your future savings in a high-yield account. When your money is in a regular bank account, chances are the value of your money won’t stay ahead of inflation. So you might think your money is safe, but your money could actually end up less valuable than when you started.
So by all means, work towards having a decent nest egg (having one to two months’ spending stashed away is always good to have), but once you’ve built that nest egg, go ahead and put your money in a high-yield account. Usually these accounts will earn you more interest, since they’ll be locked-in for a certain period of time (that’s why these types of accounts are also called time deposit accounts). And that’s a great way to ensure that your money doesn’t devalue over time.
Get Decent Insurance
Insurance isn’t one of those things I enjoy spending on… that is, until a pretty bad termite problem happened, one that threatened our home. We were glad we had a homeowner’s insurance. Having that insurance ended up saving us big money!