Everything adds up when you’re trying to manage your money better. From the daily $5 coffee to bill payments you forgot existed, every expense you pay means you have less money to save. There’s no need to live like a miser. Cutting the three common expenses listed below is easier than you think.
Review Your Subscriptions
We recommend making a list of each paid subscription to determine if you really need them. Reviewing your bank statements, credit card statements, and smartphone applications should help you locate the information you need.
With bank and credit card statements, review the last 12 months to see if you have recurring subscription fees for something you don’t need. If you do, cancel it. The reason you need to look back so far is that many service providers offer customers a discount if they sign up for annual billing. Be sure to look for the monthly and quarterly subscription bill payments too.
You may have so many paid app subscriptions that you don’t remember or use them all. Each brand of smartphone has its own method for users to find subscriptions, so be sure to inquire with your carrier if you’re unable to locate it on your own. You can also skip the research and simply use a service like Truebill to help compile and review your subscriptions for you.
Save on Insurance
Whether it’s auto, home, or dental insurance, you may be able to score a discount just by asking for one. For example, if you compared rates of local auto insurance carriers and found one offering lower rates for the same services, your current insurer would likely lower your rates to keep you as a customer. When you have several insurance policies with the same company, the best way to save money is to ask for a bundled discount. If not, changing your insurance may be the right move.
Be sure that you only carry the insurance you need. For young and healthy gig workers, it can make sense to accept a higher deductible on health insurance in exchange for a lower premium. You just need to gauge your situation and decide how much risk you want to take with every type of insurance. If your track record indicates you rarely make a claim, you’re probably safe to cut some services.
Save on Utility Bills
Have you ever really looked to see how much water, gas, and other utilities you use every month? You really should. According to an article in the USA Today quoting an Environmental Protection Agency Energy STAR representative, the typical American household spends $2,000 on utilities every year. After studying your usage patterns, commit to changing your behavior to reduce your monthly utility bill payments. Big savings could be as simple as unplugging appliances when not using them or changing your furnace filter every three months.
Money doesn’t always come easy when you’re hustling for your next gig, but following these tips can help it last longer.
About the Author: Lisa Kroulik has worked as a freelance content marketing writer for 10 years. She loves the work and the lifestyle it affords. Learn more about Lisa’s work and availability through Writer Access.