Current Balance: $28,724.
On Fridays, my goal is to provide either some easy ways to save money or some easy ways to make money. Today’s installment will be a few tips how to save on some of your monthly expenses. Here in Texas, I often hear a radio advertisement for a company that will save you money on your monthly reoccurring bills. For their services you pay a monthly fee. If you called them, they will likely look at three bills: 1) Cable bill, 2) Electricity bill, and 3) Cell phone bill.
Cable Bill
One of the easiest ways to save on your monthly expenses is to cut cable. I cut cable back in 2009 when I started law school and never looked back. At the time I didn’t have time to watch TV so it didn’t matter, and when I wanted to, I had Netflix. If you have cable and think you can live without it, cut it. If you have cable and don’t think you can live without it, call your cable company and see if they will give you a break on your current package. Some cable company representative aren’t authorized to do so, but I’m sure if you start saying you’re going to cancel they will work with you. You can also look to get smaller packages to go with your interest like SlingTV or DirectTV Now. I actually cancelled Netflix and picked up Direct TV Now about a year ago because they were the same price. So far, it was a good move.
Electricity Bill
Here in Texas, electricity is deregulated so there is a lot of competition for electricity customers. There’s even a website, powertochoose.org that will let you pick a rate and carrier. My wife and I will typically renew or change our provider every six to twelve months to take advantage of an electricity provider’s “New Customer” rate. A few cents per kilowatt can really add up over a year. If you haven’t compared what you’re paying for electricity to what is being offered, do some research and hopefully you can save a few bucks each month.
Cell Phone Bill
If you haven’t changed your cell phone plan lately, now is a good time to look at what’s out there. A few years ago, most carriers switched to unlimited plans, so if you’re still paying for a plan with data limits now would be a good time to look at your provider’s website. If you really want to save some money, I’d suggest looking at T-mobile’s rates which are typically the lowest of the major carrier. However, I would ask around to ensure their reception and coverage is acceptable in your area.
There you have it. A few simple ways to hopefully save on your monthly reoccurring bills. Re-evaluating your monthly expenses every six to twelve months is a good rule of thumb to ensure you’re not paying too much each month. Happy saving!
