Seven Simple Strategies for Cutting Costs

Feeling overwhelmed by bills? It’s often said that bills are a necessary part of life, but that doesn’t mean you should always feel financially strained because of them. If your bills are too high and causing stress, remember you’re not stuck; there are ways to manage them better. Here are my top seven tips to help you trim down your bills:

1. **Cut Grocery Costs**
Grocery bills can be one of your largest monthly expenses. Many struggle with these costs due to their shopping habits. Impulse buys, especially on credit cards, can lead to overspending. To keep on track, try using cash and make a shopping list. If you often buy lunch out during work, think about making and bringing lunch from home. We started doing this, and our grocery bill didn’t climb too much. You can also use cashback apps like Ebates for grocery savings. They’re simple to use, just follow the guide available online.

2. **Reduce Your Phone Plan**
If you’re not tied down by a contract, make sure you’re getting the best deal for your phone plan. I personally favor prepaid options since they’re usually cheaper. Many big companies now offer reasonably priced prepaid plans or flexible contracts. Your choice depends on the features you need and your budget. I’ve been with Straight Talk for years, starting at $35/month for talk, text, and data. If I need to save, I know I can downgrade my plan easily.

3. **Use a Programmable Thermostat**
One easy way to save on heating and cooling is to delay using them as long as possible. In warmer months, I use fans and other methods to cool our home before turning on the AC. A programmable thermostat can help reduce costs by adjusting the temperature based on your schedule, such as when you’re asleep or out. Using one can save you at least $15 each month.

4. **Leverage Energy Assistance Programs**
If your electricity bill is high and your income is low, you might qualify for energy assistance programs. These are offered by government and community organizations to help cover part of your utility bills. You’ll need to meet certain income and other criteria. Consider these as temporary solutions while you work on improving your financial situation.

5. **Raise Your Insurance Deductibles**
You can lower your insurance payments by increasing your deductible, though this means you’ll pay more upfront in case of a claim. If the higher deductible is manageable and you rarely make claims, it can be a good deal. Also, shop around to compare insurance products and find a cheaper plan with similar coverage. This is a tactic I use often with my car insurance, resulting in significant savings.

6. **Think About a Roommate**
Sharing the cost of living with a roommate can lower many of your expenses. This might not be feasible for everyone, but if you have extra space, renting it out could be an option. My husband and I are considering this with our spare room. A roommate could cover rent or share utility costs in common areas.

7. **Eliminate Unnecessary Bills**
While some bills are unavoidable, others aren’t. If you’re feeling swamped, go through your bills to see if there are any you can cut, like unused subscriptions. There’s a free service called Trim that can help identify and cancel these subscriptions. It’s common to blur the lines between wants and needs, adding stress. Even a temporary reduction can significantly help your budget.

How do you manage to lower your bills? Do you have any additional tips or ideas? Feel free to share below!