Conventional wisdom tells
us that everything gets more expensive over time and there's nothing we can do
about it. That's not the case. If you feel like your paycheck has evaporated
after you've paid your cellphone bill, car insurance, the utilities, and the
cable bill, here's a bill-by-bill guide to lowering your monthly expenses and
keeping more cash in your pocket.
For most of us, following
a few simple tips and practicing a little customer service savvy can save a lot
of money every month without sacrificing your lifestyle to do it. Below, I've
laid out a guide to doing just that with each of your monthly bills.
We've discussed a number
of ways to save money on your wireless bill before, but now that many wireless
carriers have introduced data caps and new plans, it's worth going over some of
your money-saving options.
·
Use Bill Shrink to Find Better Carriers/Plans: First, make sure you're
getting the best deal. If your contract is up and you're interested in shopping
around for a different wireless provider, BillShrink
is a service we've discussed
previously that can help you find a carrier that offers similar
service to what you're used to, and can save you some money in the process.
Just select your current wireless provider, tell Bil lshink how much you spend
for service now and the level of service you get, and Bill Shrink will show you
options from your current and competing wireless carriers. [Update:
Sadly, Bill shrink has shut down.
·
Make Sure You're On The Right Plan: There are plenty of
ways to keep track of
your mobile data usage, and with more carriers adding caps to their
data plans than ever, now is a good time to get in touch with how much you
actually use. If you have an Android device, My Data Manager is a utility we like
to get your arms around the amount of data you use. iPhone users can get the
same effect with My Data Usage, another app we've
mentioned.
Once you have a handle on
how much data you actually use, odds are that you're shy of the data cap you
may be paying for. Many wireless carriers direct tech-savvy users, or at least
users who say they want to stream music, surf the web, and get their email to
the highest possible data plan. If your plan allows you 10GB of data per month
and you find you're only using 1.5GB (like I did,) scale back to a cheaper
plan. You could save dozens of dollars each month if you do.
Finally, check with your
wireless carrier to see if there are new voice, data, and texting plans that
meet your needs or are equal to the one you have for less money. Verizon
Wireless, for example, ran an "America's Choice" and a "Nationwide"
plan at the same time with different prices for similar features. Make sure
you're on the best plan your carrier offers that meets your needs.
·
Use Google Voice: We love Google Voice, not just because it's easy and offers
features your phone company doesn't want to provide, but also because it saves
you money. We've talked about how to make
unlimited free calls with Google Voice by adding your Google Voice
number to your "Friends and Family" or "My Circle" plan,
depending on your carrier. You can also use Google Voice to send text messages
and ditch your carrier's texting plan entirely. Plus, with your Google Voice
account and forwarding set up to your landline or office number, you can make free VoIP calls
to anyone, and put down your cell phone for a while.
Last month my electric
bill was $300. That was ridiculous. Something had to be done. By using gadgets,
common sense, and a constant awareness of… Read…
For many, especially
those of us who have a lot of technology at home or work from home often, the
power, cooling, and heating bills are the biggest monthly expenses we have.
Saving money on your electric or gas bill doesn't mean you have to give up your
gear and live in a shack: Lifehacker's Jason Chen managed to cut his power
bill by a third without giving up his quality of life at all, and
you can too. His guide is a must-read if you really want to save more on your
energy costs, but for a quicker primer, here are some important tips to
remember: Photo by Steve Ryan.
·
Use The Thermostat: We've argued for programmable
models and against them
in the past, but whatever model you have, make sure to use it. Even bumping the
thermostat up a few degrees in the summer and down a few in the winter can save
a ton of cash on your heating and cooling bills.
EnergySavers.gov says that you can get 1% of your total
heating and cooling cost back per degree changed, as long as that change lasts
for eight hours or more. So put on a sweater and pour a cold glass of water,
program the thermostat, and when you start sweating remember it'll all be worth
it when the bill comes in.
·
Banish Vampire Power: Unplug your standby devices and chargers when they're not in
use. Better yet, put them all on the same power strip so you can turn them all
off with the press of a single button without fishing them out from the wall.
Alternatively, you could look into some of
the power strips
we've mentioned before that will automatically cut off power to your standby
devices for you. If you don't think this can save you much money, you'd be
surprised: depending on what you leave in standby mode, it can cost you more than you might think.
This goes without saying,
and it's been mentioned several times before, but if your computer, lights,
appliances, or other electronic equipment isn't in use, turn it off. Don't
settle for standby, turn it off entirely.
·
Run Your Dishwasher/Washer/Dryer Full and at Off-Peak Hours: This one's something
that most people have known for a long time, but it can still save you energy
and money. Running the dishwasher, washer, or dryer only when there's a full
load ensures they're operating at their most efficient and you don't wind up
trying to cool your house because the dryer or dishwasher are running hot
(instead, you'll be asleep.) Similarly, if your utility company charges lower rates
for off-peak energy usage, you can take advantage of them by using those energy
guzzling appliances at
night.
·
Switch to Energy Efficient Light Bulbs: Jason Chen mentioned
this in his guide, but it bears repeating: switching to Energy Star certified
compact fluorescents can save you a good bit of cash on your energy bills, and
even more for each additional bulb you change from a standard incandescent.
If you're not ready to
cut the cable bill entirely just yet, here are a few methods to help offset the
cost of your bill and still enjoy the… Read…
Some of the best ways to get a deal on
your cable or satellite bill are the easiest ones. Here are a few
ways to convince your cable, fiber, or satellite company to cut you a break on
your internet access charges or your television subscriptions. Photo by Bryan Brenneman.
o Use Bill Shrink: Bill Shrink is great for wireless plans, but the service will
also help you compare
cable and satellite television services. If you're lucky enough to
live in an area where there's some competition, you may have more options than
you think. Head over to Bill Shrink, enter your address, zip code, your current
provider (if you have one,) and how much you spend on your cable or satellite
bill. The service will return a number of options and link to the services so
you can sign up right away. In my case, Bill Shrink confirmed that my cable
company was the best deal, but gave me the bad news that new customers could
save $30/month off of what I regularly pay. [Update: Sadly, Billshrink has
shut down.
o Change or Downgrade Plans: Do you really need all
of the premium channels, or are you paying for premium content that you're
actually not using? Cable and satellite companies purposefully obfuscate how
your experience will change when you step from one tier to another, and the
only way to cut through it is to contact them and ask. One tip: call and pose
as someone looking to upgrade or buy new service, and ask them to help you
understand what the difference in plans means for actual channels.
o Ask For It: Sometimes all you have
to do is ask nicely, and a customer service representative will give you a
lower rate. When Comcast sent me a notice saying they would need to increase my
monthly rate by $15/month, I called to downgrade my plan. The rep I spoke with
asked me how much I was paying now, and told me to name my own price. I didn't
just walk away free of the increase, but I got a promotional rate for three
months, after which the bill went up to the rate I had before.
Sometimes the secret is to ask to speak to your cable or
internet provider's "customer retention" department. Your mileage may
vary, but it's usually this group's job to make sure you stay a paying
customer, and they have broad powers to make sure that's the case. A bump down
to a promotional rate is usually the least they can do.
Many of us, especially renters, don't need to worry about water
and sewer charges, because they may be parceled out by your management company
or included in the lease. For those who do pay a water bill, or who want to
make sure to save as much water as possible, here are a few ways to keep your
money from going down the drain: (see what I did there?) Photo by Kevin Marsh.
§ Install Low-Flow Toilets
and Fixtures: This
one won't win over the folks (like me) who prefer high water-pressure in the
shower, but a low-flow toilet, showerhead, or garden hose can save water and
money on your monthly bills. Low-flow appliances got a bad reputation when they
were first introduced because many users found they used more water trying to
flush toilets or get good clean showers, but their quality has improved
dramatically over the years.
The National Resources Defense Council has an excellent guide to case studies where businesses and rental
communities installed low-flow fixtures and saved a ton of money, as does the Tuscon Green Times. There's no reason you can't do the
same if you're a homeowner.
§ Check for Leaks: One of the best ways to
make sure you're not wasting water is to make sure your plumbing isn't wasting
it even when all the faucets are closed. Check under your sinks and behind your
toilets for water damage and leaks. Even small leaks can add up to a lot of
money over the course of a year.
§ Hack Your Toilet: If you're up for a
weekend project, you can buy a retrofit
kit to turn your standard toilet into a water – and money – saving
dual-flush model. If you're not interested in that much work, use the old water
displacement trick to turn any toilet into a low-flow one: fill up a half-gallon jug
with water, cap it, and put it in the toilet tank.
§ Take Navy Showers: Jump in, get wet, turn
off the water. Soap up and clean yourself off, then turn the shower back on to
rinse. It's a simple way to
use very little water and still get clean – but if your morning
shower is a refreshing, relaxing start to your morning, you'll hate this
approach.
Most of us have credit cards, and most of us have a standing
balance on one or more of them. Credit cards are, for most Americans, one of
the single largest long-term money sinks that don't actually appreciate in
value the way a mortgage on a home does, or a student loans does on your
earning potential. While it's difficult to save on balances, here are some ways
to cut your interest rate. Photo by Images of Money.
§ Find a lower-interest
credit card, or one with rewards: Mint, one of our favorite financial management services, can
also help you find a low-interest credit card. If you have your banking and
credit accounts in Mint already, the service will even tell you how much you
would save by switching your balances over to that card.
Also, even if you're in it for the low-interest, it's worth
looking into a good rewards
card that offers perks that may actually save you money on regular
purchases. Here are some of your favorite rewards cards. Once you have one
though, make sure to read the agreement carefully so you don't wind up paying for
anything you could get for free.
The right rewards credit card offers great perks and bonuses for
spending the money you were already going to spend anyway. Here's a look at… Read…
Credit cards often come with benefits other than cash back or
other rewards that we forget about long after signing up for the cards. Avoid
paying… Read…
§ Transfer balances to a
lower-interest card: If you have a standing balance on a high-interest card and no
balance on a low-interest card, or even if you can get a low-interest card to
transfer your balance to, you could save thousands of dollars in interest by
shifting that balance to a lower-interest card while you pay it off. You'll
usually have to pay a small fee to do the balance transfer, but many credit
card companies waive that fee, especially for new customers or customers who
have been with them for a long time.
§ Call and Ask: Credit cards are
another type of bill where it pays to just get on the phone one day, talk to a
customer service representative, and let them know you've been a paying
customer for a long time and you'd really appreciate a break on your interest
rate. In some cases, they'll grant your wish, dropping your rate a few points.
In other cases, even if they say no, let them know you're planning a balance
transfer to a low interest card with their competitor. They'll usually turn
around, and if not, make good on the threat.
§ Irregular Bills
Not every bill comes in an envelope every month. Some services
and charge aren't quite so regular. That doesn't mean you can't save some dough
when it comes time to pay up for your car insurance or gaming habits. Photo
by Andrew Steinmetz.
§ Insurance: Even if you have a car
insurance company that you love or a health insurance provider that you
tolerate, it's a smart idea to shop around and make sure you're getting the
best possible rate for the type of driver you are. For car insurance, there's
simply too much competition in the market for you to not be able to get a
better deal just by offering to move to a new company, assuming they can offer
the same level of protection you already have.
Similarly, if you do find another insurance provider offering a
lower rate, odds are your current provider is willing to meet it in order to
keep your business. While you're on the phone with them, see if they'll toss in
a deal on renter's insurance, or if you can save some money
by combining policies. If you lease a property, you should have it,
and it often costs insurance companies so little to provide they'll toss it
in for free. By the way, did you know Mint can also
help you find affordable auto insurance?
Depending on where you live and how clean your driving record
is, getting car insurance can burn a sizeable hole in your pocketbook. To help
reduce… Read…
If you rent your home, you need renter's insurance, but a lot of
people don't even know it exists or think it's pretty expensive. Not… Read…
Simple is a new web service that can help clarify your health
insurance picture, aiding you in understanding the type of insurance you have,
what it … Read…
For health insurance, look into previously
mentioned Simple
to get your arms around your health care costs. If you buy your own insurance
or have a compatible plan, Simple can use your medical history to help you find
a better deal.
§ Netflix/Blockbuster/Vudu/Amazon
Instant Video: Yes,
you can save money on your cable or satellite bill by switching to a streaming
video service. Many of you have, but you can also save some money by pitting
streaming video services against one another to find the one with the catalog
you like the most and the lowest prices.
Netflix is updating its movie streaming and DVD rental plans,
and not for the better really. Instead of $9.99 for unlimited streaming with
unlimited… Read…
Even with Netflix's
incoming price
hikes, Netflix is still cheaper than most cable television packages,
but its streaming competition, like Blockbuster, Vudu,
and Amazon Instant Video may offer affordable alternatives
depending on whether you prefer to watch DVDs or Blu-ray discs or just want to
stream video. If there's ever been a time to compare plans and see if you can
get a bargain, it's now.
§ Gaming: If you play a
subscription-based massively-multiplayer game and pay every month for the
privilege to do so, odds are the company you're paying will offer you a lower
per-month rate if you sign up to be billed for several months at once. So
instead of paying $14.99/month, change your plan to be billed every three
months and you'll usually get charged $38.99 every three months, or the equivalent
of $12.99.
Tired of paying to play at all? The free-to-play game market is
heating up, and there are plenty of rich multiplayer titles available that let
you play for free and only pay when there's something you want to do.
Alternatively, subscribe to a service like GameFly or OnLive for your gaming
needs. GameFly is like Netflix for video games, where you pay a monthly fee to
have games shipped to you that you want to play. Just like with Netflix, you
can keep them as long as you like. OnLive is a game streaming service where you
pay for a subscription and a set-top box connected to your TV and the internet.
Choose the games you want to play, and they're streamed right to you.
§ We can't stress enough
how much you can save a lot of money in many cases just by asking. More
businesses than you may think are interested in keeping customers and will
offer you discounts to make sure you stay with them. If you encounter someone
who doesn't seem to feel that way, call back until you find someone who does.
In the worst case, think about whether the service you're paying for actually
enriches your life, and if it doesn't, let it go. You'll probably be happier
with the money you've saved.
Take the time to look at how and where you spend your money, and
you'll likely find things that you thought you wouldn't be able to negotiate
prices on that you're actually very able to get a break over. Whether it's your
favorite video game or your electric bill, there are opportunities to put more
of the money you see going out the door every month back into your pocket, or
better yet invested into your future.
Are there monthly bills that you wish you could lower or be rid
of that we didn't cover here? Share your tips in the comments below.
No comments:
Post a Comment