It’s said that US consumers spend around $17,000 on average every year on their housing, and an additional $7,660 on transportation – which amounts to roughly half of all expenditure. Clearly, many of these costs cannot be avoided: people need somewhere to live and to get around, after all. There are things that you can do, though, to help keep your household bills down so you can free up some money to spend elsewhere, and generally get a better deal on your living costs. Read on to find out about four ways you can save on your household bills.
Switch energy providers
One option is to reconsider which energy providers you use. Sometimes you won’t have a choice about this, such as if you live in a property with a landlord who takes care of such things. Often, however, people do have control over which companies supply things like their gas and electricity and these companies regularly have deals that they offer to new customers. It can also help to speak to your current provider as they might well be able to offer you a deal that costs less than you are currently paying; if they think you might switch to another company, they might be willing to compromise in order to keep your custom.
Add to your security
Security measures can also help you keep your bills down and, even though you’ll have to pay for the equipment in the first place, it should more than pay for itself over time. For instance, getting a good alarm system on your house can help to reduce the amount you have to pay for home insurance, as can getting good locks on your doors. This makes your house harder to break into, and therefore there’s statistically less risk of you needing to claim on your home insurance policy.
A similar approach can also work for your car insurance: people who have good security on their cars find it much easier to get cheap car insurance policies than people who don’t. Steering locks, wheel locks, car alarms and immobilizers can all make a difference.
Shop around for insurance
When you are buying personal insurance such as auto insurance or home insurance, it’s also a good idea to shop around. Often, the first deal you look at won’t be the best and so it definitely pays to get at least a couple of comparisons to make sure you get the option that offers the best value. There are plenty of price comparison sites online, which can be useful, but it also helps to look at the insurance providers themselves. This is because different home insurance and car insurance policies offer slightly different cover, and so as well as getting a good price, you need to be certain you’re getting the right cover, too.
Another tactic for reducing your household bills is to change your habits. Some habits are harder to break than others, but even just making a few small changes can make a big difference. For instance, walking to the shops rather than driving will not only save on your fuel bill but driving less can lead to cheaper car insurance. Using energy saving light bulbs and remembering to turn off lights when you’re not using them can also save on your electricity: it might not seem like much, but it all adds up.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.