I tell you to go and invest and save up for an emergency fund and I give advice about investment strategies. But life is expensive, I get that and I agree. It is hard to have some money left at the end of the month. I like to share some tips to keep the utilities and monthly bills as low as possible. There are more than just these tips, the list is not complete. Also you are probably already doing a lot of there. Hopefully it is of help anyway.
- Check at your bank if the interest rate on your mortgage can get lower. Ask for rent reduction at the landlord (traded for cleaning the communal space for example).
- Compare the price of electricity to other providers and switch to the cheapest.
- Compare the price of all your insurances and switch. For example house, life, travel, care, liability, legal assistance etc.
- Cancel all non-essential insurances. Like phone, all risk for your older car, travel insurance if you are not traveling etc.
- Change your car insurance if you pay for mileage. If you commute less due to working from home, it can be lowered.
- Change internet providers.
- Cancel your cable tv all together. Paying for commercials is old fashioned.
- Choose one streaming service. Having Netflix, Disney plus, Prime and Hulu is a bit much. A lot of shows are available for free and there are better ways of spending your time than watching tv.
- Turn off the heating at least an hour before bedtime.
- Insulate your house. Check for available subsidies.
- Be frugal with electricity.
- Buy a sim lock free phone and take on a sim-only subscription. A phone can be used 3-4 years. Count your profit.
That’s it. It is my list. What do you think I missed. Can I save on other things than are on this list? Please let me know!
Till next time,
I am not a Financial advisor nor am I YOUR financial advisor. I am not a trained financial professional. This blog is for entertainment purposes only.