5 Common Bills That You May Be Able To Cut

There are certain expenses that we have just accepted are “necessary.” These are things like telephone bills, cable, electricity, oil or gas, mortgage or rent, taxes, gym membership, insurance and so on.

What if I told you some of these things aren’t necessities and that there may be ways to get rid of these costs altogether or lessen them? I bet you’d be pretty happy. I’m here to share with you 5 ways to eliminate or reduce common monthly expenses.

Cable

My combined cost of cable and home phone is approximately $165 per month. Many people pay upwards of $100 for cable alone, which translates to a minimum of $1,200 a year, so it’s safe to say it’s a pretty pricey utility. Your first option is to simply get rid of your cable and stick to watching old DVDs, home movies, and YouTube videos.

This is obviously the most cost effective choice, but probably not the most feasible for a majority of you. There are a lot of alternatives to cable now that are significantly cheaper, so this is likely the best route for most people. Netflix packages begin at $7.99 per month and it’s $11.99 for the premium package. Hulu’s monthly costs are the same, $7.99 for limited commercials and $11.99 for no commercials.

There are a lot of alternatives to cable now that are significantly cheaper, so this is likely the best route for most people. Netflix packages begin at $7.99 per month and it’s $11.99 for the premium package. Hulu’s monthly costs are the same, $7.99 for limited commercials and $11.99 for no commercials.

Even if you do the highest subscription for BOTH Hulu and Netflix, you still remain cheaper than cable with a total annual cost of under $300. The decision is really all yours, depending on what you’re willing to give up and what you watch.

Phone

The main reason I have a house phone is because it’s required for our alarm system in our home. However, many people do not use a house phone, so really all they need is a cell phone. This allows for the elimination of an entire monthly bill.

Additionally, there is a lot of flexibility in cell phone plans. Prepaid plans, through carriers such as MetroPCS, tend to be the cheapest plans. If you want a traditional plan, though, it truly depends on the type of plan you want.

Unlimited data is going to be the most costly, so if you can live without unlimited data (and not go over every month), then you can choose a pretty reasonable plan. Shop around and compare prices between carriers to find the one that best suits you.

Gym Membership

There are a few cost-saving options regarding gym memberships. One is that you can choose the less expensive gym. For example, the gym closest to my house is the most expensive in my area. Memberships vary based on numerous factors (age, if you’re joining as a couple or family, etc.), but it would cost be approximately $100 per month.

Now, this isn’t just for a basic gym membership, of course. You have access to hundreds of classes, a steam room, a pool, tennis courts and many other amenities. Just a few minutes further from my house is another gym that charges $10 per month, though.

While this gym membership does not include all the amenities, it provides the gym for me to work out in. This would obviously be the better options of the two. The second option in cutting down the costs of gym memberships is to simply get rid of your membership altogether.

There are endless free workout tools on the internet, many of which require no equipment at all. Even if you do need to purchase some equipment or even a workout video, the cost would still be less than all the months you pay for a gym membership.

Energy Bills

While the Amish lifestyle may not be for you, there are ways to reduce the cost of your energy bills. One way to do this is by switching all of your lightbulbs out and replacing them with LED light bulbs. LED light bulbs are significantly more efficient than their incandescent counterparts.

While this may not lead to huge savings right away, it certainly will over time. LED light bulbs also need to be replaced less frequently than incandescent ones, so you will also see savings there. Another area where you can create energy efficiencies is by installing a programmable thermostat.

The Nest, for instance, allows you not only to program your thermostat but to control it directly from your smartphone. This means you can turn your thermostat on and off as you come and go from the house.

Debt

There are several ways to eliminate or reduce your monthly debt expense. The best, but often most difficult, way is to simply pay off your debt. This will save you a monthly debt repayment cost, as well as the cost of interest on that debt. Another option is to refinance your debt.

I have a blog post detailing out the specifics of a tool that will help you refinance your student loan debt and, possibly, help reduce your monthly payment amount. The last choice here, and probably the most important, is to stop accumulating more debt.

Don’t charge things on your credit card that you can’t pay off in full because that will just continuously increase your monthly debt payment (and overall debt to be paid back, of course). This post on how to avoid debt will help you keep your debt to a minimum.

So, what are some ways you’ve reduced your monthly bills?

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