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7 Ideas to Lower Your Household Expenses

Ideas to help lower your monthly expenses and save money.

As the cost of goods rises, we must find ways to lower our household expenses.

Consider these ideas to reduce your monthly living expenses. These ideas will require you to do research, outreach, and negotiate with providers. But it will all be worth it.

1. Lower cellphone bill

Call your cellular provider and ask about new promotions and discounts to lower the cost of your monthly cellphone bill.

Can you switch to a different plan? Can you get added to an employer or association discount? Ask them about any affiliate programs that can reduce your monthly expenses.

Are you out of contract? Consider switching to another service provider. However, be mindful not to fall for the “new phone” gimmick, which can increase your monthly expenses and trap you into a service plan.

There are many providers, from big brands to MVNOs (they are mobile resellers). They include Ryan Reynold’s Mint Mobile, Verizon’s Visible, and more. MVNOs use the carrier’s big network, offering you similar services at a reduced cost.

Learn more on how to lower your cellphone bill.

2. Lower cable, internet, and home phone bill

Don’t settle when it comes to your cable and home internet. You have options to shop around. But first, I want you to call your existing provider and ask about lowering your monthly bill.

Negotiate with the representative and let them know you need to lower expenses. Don’t forget to inquire about special deals, discounts, and incentives to keep your business. Sometimes, they won’t mention these discounts unless you ask about them.

If you can’t get a better deal, consider reducing services like cutting cable or the home phone line. You also have the option to switch providers. Many locations have at least 2 providers to choose from.

Read more on how to negotiate and lower your cable and internet bill.

3. Lower electric and other utility bills

You can take tactical action, such as lowering your thermostat to a more efficient setting. Some experts say one degree higher or lower can add up to savings. Play around with your thermostat settings.

Other ways include investing in home upgrades to reduce costs long-term. You can switch to energy-efficient appliances, lights, and windows. And you can also fix issues like a dripping faucet and patch gaps on doorways.

We also found speaking with your utility companies can help reduce monthly expenses. Most utility companies offer a plan where your bills are projected and spread out into 12 monthly payments. This feature reduces the chances of a larger monthly heating bill during the winter.

You can find more ways to lower your utility bills.

4. Lower subscription costs

Subscriptions have grown because of its conveniences. Take the time to analyze your monthly subscriptions. These might include Amazon Prime, streaming services, grocery deliveries, newspapers and magazines, newsletters, and so on.

Some subscriptions cost a few dollars a month, while others can cost $30, $50, or more for a single service. Determine what you really need and cut out the rest.

Take a piece of paper and create three columns. In the first column, write down all the subscriptions you currently have. The second is the amount you currently pay. Leave the third column for your notes.

Set aside time to shop and speak with a rep to get a better deal. And remember, you can choose to eliminate them entirely, get on a lower price tier, or find an alternative.

5. Lower insurance expense

Own a car? Well, it’s time to shop around.

Don’t assume your loyalty guarantees the best auto insurance rate for your situation. Some companies make it sound like loyalty has its rewards, and you’ll even see a discount applied.

But there’s a good chance you are considered a priced-optimized customer, meaning your rates will increase incrementally.

My parents learned this the hard way. They’ve been loyal to the gecko for over 10 years and never considered switching. I went auto insurance shopping when I saw their renewal increased by an extra $200. We found a competitor with comparable coverage at $500 less.

Auto insurance providers know if you’ve been shopping for better rates. Your loyalty or inaction to shop around could cost you hundreds of dollars yearly. You don’t have to make the switch, but it’s good to look for auto insurance once a year to ensure you get the best price.

6. Lower banking expenses

Are you paying for banking services? Check your statements online and search for the fees you’ve paid.

I actually believe it’s okay to pay for banking services that offer clever features and unique benefits I can’t get elsewhere. I’m okay paying for these financial subscriptions if they help me do things better and provide peace of mind.

However, some banks charge fees just because they are a good source of revenue.

Review your banking relationships, understand the services you’re getting, and find out what fees you’re paying. Then, shop around for alternatives.

You have many options. Visit to find credit unions near you or fintech banking apps.

7. Lower credit expenses

If you carry a credit card balance from month to month, you’re accruing interest, which increases your balances. Credit card debt can be a difficult hole to crawl out of, but there is a way out.

First, add to your monthly payments. Don’t simply pay the minimum. It will take you decades to pay off the balance. Check your statement for the recommended payment to pay off the balance in three years.

Second, call your credit card issuers and explain your situation. Explain that you’re looking at lowering monthly expenses. Ask about programs that can help you lower your rate, get fees refunded, or set up a hardship payment plan (for extreme circumstances).

Third, consider transferring your balance to a new credit card with a zero-interest promotion. You’ll need to get approved for this, so your credit score must be good.

Lastly, you might want to apply for a debt consolidation loan to combine multiple credit cards or other debts into one easy monthly payment.

If you have other debts, such as auto or student loans, mortgages, etc, it’s possible that refinancing them at a lower rate can lower your monthly expenses. Learn more ways to achieve debt freedom.

Remember, you have options when it comes to lowering your monthly household expenses.

Jason Vitug

Jason Vitug is a bestselling author, entrepreneur, and founder of and His purpose to help others live their best lives through experiential and purposeful living. Jason is also a certified yoga teacher and breathwork specialist and has traveled to over 40 countries.

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