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There are many people in the state of Texas who struggle financially, and many find it hard to keep on top of monthly financial commitments. When you consider how much there is to pay out each month, it is not surprising that so many people struggle. You have to cope with housing costs such as rent or mortgage, debt repayments, travel and food, paying the bills, and other essential costs.
The good news is that when it comes to monthly bill, there are ways in which you can cut costs. Many people simply do not realize how much they can save if they put their minds to it. In fact, a lot of people in Texas are paying far more than they need to when it comes to their monthly bills, which means a lot of wasted money.
In this article, we will look at some of the key ways in which Texans can save money by reducing those monthly bills.
What You Can Do
There are various ways in which you can reduce your monthly bills, some of which are outlined below:
1: Switch Utility Providers
One way you can save is to switch utility providers. You may be paying far more than you need to for gas and electricity, so shop around and look for the best deals.
2: Look at Insurance Plans
Make sure you are not paying over the odds for car insurance and home insurance. Look at cheaper options such as month to month car insurance. Also, compare insurance costs with plans from other providers to see if you can save by switching.
3: Switch to SIM Only Mobile
If your mobile contract has come to an end, choose a SIM only plan and keep your existing handset to avoid the high monthly costs and lengthy contract of getting a new handset. This can slash the cost of your monthly mobile bill.
4: Use Public Transport
You can eliminate the need to use your vehicle by opting for public transport and going by foot to places. This means you can sell the car if you wish to make extra cash, and you get more exercise to boost your health.
5: Consolidate Debts
If you have a range of debts, make sure you look into consolidation, as this can cut your monthly outgoings hugely. Find a low rate consolidation loan and wrap all of your little debts into one. This means lower monthly payments and less interest overall.
6: Ask for Credit Card Rate Reduction
Those who have credit cards can get a reduction on their interest rate simply by asking! There are not guarantees, but it is well worth trying. Some providers will reduce the rate of interest charged if you ask.
7: Set Up Direct Payments
Some people pay a fortune in fees each month for late payments, and these can really add up. It can also have an impact on your credit score. So, to avoid these fees and damage to your credit rating, set up direct payments to go out automatically from your bank.
8: Get Energy Efficient Bulbs and Appliances
The cost of electricity can really bump up your monthly outgoings. So, in order to reduce your electric bill, invest in smart bulbs and appliances that are energy efficient.
9: Turn Down the Thermostat
In the colder weather, it is tempting to crank up the heating, but this can prove to be very costly. So, instead, of doing this, layer up and turn the heating down a couple of degrees to save money.
10: Don’t Leave Appliances on Standby
Another reason your electricity bill may be high is because you leave all your appliances on standby. This is a bad habit that many of us have developed, but these appliances still use small amounts of energy when they are not turned off completely.
11: Exercise at Home
Gym memberships can be very costly, and you may be tied into them for some time. Well, you can avoid this by exercising at home instead, which is completely free. Plus, there are no contracts to worry about.
12: Reduce Your Cable Package
These days, you have far more options with entertainment, as you can stream online. So, considering reducing your cable package.
13: Get Rid of the Landline
If you have unlimited minutes with your mobile contract, you can look at getting rid of your landline altogether.
14: Cancel Subscriptions
Look through your outgoings and cancel any subscriptions such as magazines and newspapers, as these can all add up over the course of the month.
15: Pack Your Own Lunches
Instead of buying expensive lunches at shops and cafes when you are at work, make and pack your own from home.
16: Don’t Buy Branded Goods
When you go shopping, avoid buying branded goods and paying for the label. Go for shops’ own brands instead, as this can be much cheaper.
17: Reduce Takeaways and Eating Out
You can boost your financial health and your physical health by reducing the numbers of takeaways and meals out you have.
18: Look for Coupons
When shopping online, look for online coupons and discount codes, as these can save you a small fortune.
19: Grow Your Own
Consider growing your own fruit and vegetables at home if you have a garden. This is healthier and will save you money.
20: Bundle Insurance
Try to bundle insurance plans from the same provider, as you can get a generous discount. So, for instance, take your home and pet insurance from the same provider.
21: Monitor Your Spending
Make sure you track and monitor your spending, as this means you are less likely to spend what you cannot afford.
These are just some of the ways you can cut costs each month.