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How to Lower Your Monthly Bills

How to Lower Your Monthly Bills PhotoNowadays, people have a hard time budgeting money using their income. The problem with today’s economy is that most people’s income remains the same while the cost of goods and expenses rises. This leads people to be in debt when the time comes money spent is more that money earned.

In fact, according to CNN Money, more than 40% of those employed in the US are working in low-wage jobs. These may be not enough to support one’s self and family.

But one can avoid that situation if you know how to manage your money well. One of these is through lowering your monthly bills. Although it seems impossible, here are some effective ways to do so.

Sit and talk it out with family

To be able to achieve your goal of minimizing expenses monthly, everyone in the household should know your plans. You can save all month long, but if your family members are not doing the same, you might just end up paying the same bills last month.

It is important that as a family, everybody has to understand what is going through. Talk about how much income your family only gets per month and how much expenses is there needed to be paid.

Let family members voice out their opinions on what they can do to save money. Delegate tasks to everyone so as they have a role to play in minimizing expenses. One can either be tasked to turn off lights as everyone goes to sleep at night. You can also assign someone to budget money for groceries per month. In this way, each person in the family feels a financial responsibility.

Turn off unnecessary electric use

Electricity use is one the major bills you have to pay per month. This is also the most common utility you can minimize using. Instead of using the lights all day long, why not allocate a time frame as to when you should turn the lights on and off. Instead of using dishwashers, have someone in your family wash the dishes instead. You can also minimize your TV and computer use if it’s not necessary.

Minimize your credit card use

When you have a credit card in your wallet, it seems so easy to swipe and buy all the things you want. But at the end of the month, you get billed and you end up saving nothing. If possible, limit your credit card use. Credit cards should only be used during emergency purposes. Instead, have a weekly budget that you will carry to ensure you only spend what is needed.

Shopping

Sacrifice your new clothes and shoes addiction. If you don’t really need new ones, then you don’t have to buy per month on these things. If you really want to splurge, have an allotted budget and don’t go beyond your limit.

Groceries

Always list down what you really need to buy. Do not buy items that is not written in your list. In this way, you minimize unnecessary picking on grocery stores just because you think you want to but these.

Dining out

Do cook your food at home instead of eating on fast foods or fancy restaurants. This will save you a lot of money and give you time for your family as well.

Cut down services

If you can handle mowing your lawn, then do it. You don’t need lawn mowing services if you can do it on your own. Also, you can opt to wash your car instead of driving it down to the carwash shop. As for girls, limit your salon visit for your manicure and pedicures. You can do it on your free time instead.

These tips seems easy to do but are really hard when you do it on your own. It is important that you have the people around you to support each other when it comes to finances. Discipline is the key to be able to meet your goals financially.