Clever Ways to Save Money on Bills

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Did you know that saving money is just a result of changing your mindset? Just refrain from thinking of saving money as a task, or as a limitation— although it’s natural to often feel that way. Think about a budget as a spending plan. One, because saving money doesn’t mean you have to stop spending altogether and two, it’s just supporting you in things that matter to you! It simply means you’ll have to prioritize some financial goals and decisions over the others.

For many, it’s a task to understand the places from which money can be cut, except of course from the obvious expenditures. The truth is, however, that most people have a lot of avenues that they can cut back on and save oodles of money. Let’s have a look.

Save Your Phone and Internet Bills

Use a Landline Phone

A landline phone must have become obsolete with the increasing use of mobile phones. Having a landline phone as a part of a home security system might actually turn out to beneficial for you. There are multiple VoIP (Voice over Internet Protocol) plans out in the market — check up a service provider who offers this phone service and the most you’ll have to do is pay local taxes. You can also get your existing number ported to the new service. Free calls all along!

Prepaid Cell Phones

Use prepaid cell phone services over the usual contract phone plans which are generally more costly. The prepaid cell phones come with a lot of benefits like unlimited minutes of calling and about 1 GB of data, every month. The only downside to this is the initial cost of the cell phone which is not subsidized like the contract phones.

Mobile Hotspots

A lot of providers give you an option to buy the hotspot and offer a lot of free data thereon, as opposed to the usual plans where you pay per month for the data you get. Free data can also be accumulated by getting others to sign up (referrals) or even by completing offers and surveys. This type of plan is highly recommended for saving a good amount of money. So if you’re using one of the usual data service providers, it’s time you get down to do some research and find the ones that are relatively cheaper and offering you the same benefits.

Save On Your Housing Costs

Refinance Your Loans

Cutting down the costs of your loans might be a bit difficult, but it’s worth it. You need to analyze a few things before you go in for this option though. For instance, you’ll need to call your current lender for a settlement figure, then go on to find a new loan with the best buy rate, without hitting your credit score. Take expert advice on loan switching and see if you’re able to save. If yes, then buy the new loan and use it to pay off the old one. You’ll end up saving a good amount of money.

Refinance Your Mortgages

Mortgages savings are massive and can be easily achieved, but at a cost. As rates have dropped, the lenders will charge more fees. You might have to pay up an exit fee to leave your current lender and depending on the deal you’ve made, an early repayment charge as well. Before opting out, ask your lender to propose a new offer (because they could reduce the fees you’d pay to get a new deal). If done right, it can help you with a huge amount of savings especially if you have a huge debt.

Cut the Cost of Debts

Existing Credit Card Debts

Do you have too many credit cards with too many dues to clear? Imagine the interest you’ll be paying for each of those cards. The solution to all that is a balance transfer credit card. It can literally save you thousands of dollars. With this system, you get a new credit card to pay off the dues on the old credit cards at 0% interest most of the time, or a small fee sometimes. This will help you become debt-free quicker as more of your repayments will reduce the debt amount, which is cheaper than the interest you’re paying anyway.

Cut Down on Minimum Repayments

Credit card monthly minimum payments (the lowest amount of payment you must pay each month to avoid a fine) are tricky to get rid of and it may always seem like you’re in debt. The minimum payment isn’t a fixed amount. It’s actually a percentage of your account balance. Therefore the amount you end up paying each month will keep falling as your balance falls, making the duration longer. In a nutshell, the quicker you repay, the less it will cost you. You can either pay off the larger chunk of debt using your savings or simply make it a monthly fixed payment. Even setting up direct debit might do the trick because you’ll avoid missing out the payment and late fees.

Get a Better Bank Account

Close Old Accounts

There are a lot of mysterious things you pay for when it comes to bank accounts. You can actually save the fees on the accounts that are no longer useful to you. Often banks start charging inactivity fees for dormant bank accounts and you’d have no clue about it. Some banks even charge fees because they think they can easily get away with it. Closing old bank accounts can be time consuming, but it saves you money and headaches in the long run.

Switch Over to a Better Bank Account

Switching over or opening a new bank account will not only mean savings because of no fees and no minimum balances but it can also mean you’ll end up making more money due to interest, cashback and other offers. Choose a bank as per the incentives offered. Some banks may offer excellent customer service or offer you good interest on checking accounts, some accounts even give free cash as a percentage of what you pay out in bills. Some bank accounts reward you with a certain amount of money if you pay out at least 4 direct debits, opt for paperless statements, use mobile banking for your transactions or when you stay within your overdraft limit.


There you go! You now know how to save money on all possible bills you pay monthly (now you can do them with by being a little clever about it). There are still more ways like saving bills on energy, insurances, entertainment, etc. It’s all your choice. Cut down on the unnecessary and find cheaper alternatives. Get yourself a money makeover!

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