Top 4 Ways to Cut Bills

Household and other bills, such as car insurance, mobile phone rental and gym memberships can sometimes get out of control. Here are my Top 4 Tips to Reduce Your bills.


Make A list !

1.  Sounds simple but most people do not do it, or if they they they do in wrong! There are two types of people in this world:Those that make lists and those that forget (their bills!).

The best form in which to enter all your current bills and to keep a close eye on how they might spiral out of control, is to create a spread sheet. Most computers are preloaded with an Excel or equivalent spread sheet software but you can also down load free versions or trial period versions online.

Enter all your current bills-  utilities, cell phone, rent/mortgage etc onto the spread sheet and use a simple Excel type formulae to total it. Cross reference this with your total income and it will highlight if you are over spending- then see tip number 2 to address your over spending.


Be Ruthless with Overspending

2. Your spreadsheet from above with very quickly alert you to areas where you can save money. Do you really need all the services / memberships you have listed. Cull any outdated or unwanted bills.

You will be surprised how staring at your bills in an orderly fashion on your computer screen will highlight where your money is really going and in some cases unnecessarily.

But I hear you say- ‘what about the bills I cannot cull’ – you guessed, see below.


Negotiate Discounts

3. Yes all your bills- make ‘YOU’ the customer. So start to negotiate/haggle with your suppliers for discounts. Use online price comparison sites to get better prices for utility and insurance bills. Talk to your existing bill suppliers and ask for a discount, threaten to leave them if they don’t comply. This is a strong consumer bargaining chip- use it !


Dont Take Your Eye Off the Ball !

4. A simple last point but needs to be said. So many people start off with great intentions to cut their bills but simply are not dedicated enough to continue with it. Keep your spreadsheet up to date and look and amend it at least monthly. Always think twice before adding another new bill to the spreadsheet- do you really need the product/service or can you get a better deal elsewhere.

Keep eye balling your bills and you will get them under control and cut them!


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