Your Ultimate Guide on How to Save Money on Monthly Expenses

Gas, electricity, water bills, and the overall cost of living rise every year. The good news is there are a lot of ways to save money on your monthly expenses.

Here are some tips that will help you save money and reduce your monthly expenditures:

Credit Cards

credit card

Refrain from using the money that you don’t have.

Avoid using your credit card

A credit card may be convenient, but it comes with a high interest rate. Most people have credit cards with a standing balance, and over time, that interest will pile up.

Avoid using credit cards for things that you don’t need.  Unless it’s an emergency, it’s better to postpone buying until you have enough cash. It would be wiser to make it a point to pay your outstanding balance before making huge purchases.

Choose a credit card with a lower interest rate

If you can’t avoid using your credit card for your needs, then choose a credit card with a low interest rate. Some credit card companies offer a zero percent balance transfer. You can transfer your standing balance to a credit card with a lower interest rate.


Electricity Bills

Unplug appliances when not in use

Appliances can still draw electricity even when they’re turned off. Unplugging appliances that are not in use can help add up quickly to your savings.

Choose a programmable thermostat

Save on your heating and cooling bills by using a programmable thermostat. Schedule the thermostat to conserve energy while you’re at work or sleeping.

Consider using solar energy to save money on electricity bills

Solar panels can be a good investment to counter the yearly rising rates of electricity bills. The installation of solar panels may be expensive, but it’s a good investment.

You can save more money on your electricity bill by using the energy that the solar panels generate. In the long run, you’ll be able to break even. Thereafter, your electricity will be free!

Check to see if your local government offers incentives like tax credits and cash rebates for using solar panels.


Water Bill

Check if there are leaks

Check if to see faucets are closed properly, and if there are any leaks in the pipes. Make sure that the leaks are repaired, because the cost of leaking faucets, toilets, and pipes can add a lot to your water bill.


Filling a bath tub requires more gallons of water than taking a shower. Showering can reduce your water bill, because it uses less water than using a bath tub.


Insurance Bill

Compare car insurance cost

Make sure to compare the insurance cost before buying a new or used car. The type of vehicle can affect the cost of the car insurance.

Check for insurance discounts

Some insurance company offers discounts if you insure two or more cars with the same company. Check with your home insurance company to find out if they also offer insurance for vehicles. They may offer a discount if you choose to insure your vehicle with them.

Good Credit

Maintain a good and solid credit history. Your credit history can benefit you, as it’s taken into consideration in your insurance cost.

A little effort can go a long way!

Author: Glen Carroll

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  1. Credit cards. Oh my. Having this if you don’t know how to handle your finances can screw you up really bad. But if in the hands of someone who knows how to use it, it can be a big blessing in disguise. Great post, man!

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  2. Switching to solar panels can be really helpful. Use LED lightbulbs too and see your monthly bill decrease.

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  3. Nice tips here. Will apply this to save expenses. Thank you for this!

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  4. It is a great thing to unplug your appliances when no tin use. Not only you can save big in consuming electricity but also big savings to your electric bill.

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  5. Common issue here is not having a good credit. We must know how to use it on wise stuff.

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  6. It is a really big help when you unplug appliances that are not currently in used. Big savings and also can contribute big on the environment.

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  7. Nice point here especially on the checking of leaks on the water pipes and faucets. Also one cause why it also consumes more on the water bill and make more on your expenses.

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  8. Still not using credit card today and will not plan to get one.

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  9. Using solar panels would be a great source to reduce the bill on your electricity.

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  10. Credit cards. It’s not bad to use that. Just use it in wise way.

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  11. There’s no wrong on being stingy, it is just being wise to save expenses.

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