Try as we might, it’s sometimes hard to balance our books and try and save a little money by the end of the month. As years go by, it gets even more difficult as you notice the cost of your usual monthly expenses going up a little bit higher, but the income you are bringing in not following suit.
However, there are a few monthly bills that might dampen your rainy day fund that you can actually work to your advantage to save a little money for the long run.
Credit Card Bill
It becomes very tempting to charge instead of paying directly off your debit card or from a checking account, but tamping down credit card debt can be an uphill battle with no end in sight. Be sure to evaluate your credit report regularly to see where you stand with the major credit unions.
For some an out of sight, out of mind approach to credit cards work, keeping them out of your wallet so as not to mess up your credit score. However, we are sometimes drawn by the perks of these cards like cashback rewards and airline mileage. It is important to avoid the temptation when managing costs as a homeowner.
If you have accrued some credit card debt, try to pay down this major expense in large chunks to get rid of it faster. You may also want to look into debt consolidation to pay down one card instead of four to alleviate the stress on your credit history. If you have an upcoming project you are looking to focus on, check with financial institutions regarding personal loans rather than running up the tab on a card. If a home improvement project has another use, say like a home office, you may even want to look into writing it off as a business expense.
Energy and Water Bill
When it comes time to pay the electric bill or the water bill, you may have noticed that a lower rate is also an impossibility and that your monthly budget may be taking a harder hit during different seasons. This is why some experts identify dropping all of that green as one of many reasons to go green.
Besides being better for the environment, green practices can actually be a better deal for your bottom line. Switching to energy sources like solar panels can help to drastically drop the cost of your electric bill. When it comes to energy efficiency, you can do a household check for leaky ductwork or faulty seals near windows and appliances that may make it a bit drafty in the house forcing you to head for the thermostat and turn up the heat in the winter. The EPA also offers recommendations on Energy Star appliances that help to save money for homeowners and provide sustainability financially.
Reducing water usage will reduce your water bill. Taking shorter showers and not leaving faucets running will help cut back the amount of waste that is running your budget dry. Cutting back on this utility will act as an incentive when you see the savings ramp up.
With monthly costs and equipment rental rates, you can end up spending a lot of money on your cable and internet bill. However, there are easy ways to reduce your internet costs.
Buying your own modem and router can help you scrape those fees for rentals, and it allows you to comparison shop for equipment that is affordable and best for your habitat. You can also comparison shop among internet service providers to check for a lower price for the strongest Wi-Fi connection.
In addition, check through different internet service providers for potential bundle opportunities that deliver new ways to pay for cable and phone as well, with less money coming out of your wallet for all three.