Best Ways to Lower Your Bills in 2020

One of the easiest ways to cut down on your monthly expenses is to get rid of Cable and start streaming.  There are great services out there such as Netfiix, Hulu, Amazon Prime and Sling TV that offer great content, as well as access to live TV channels.

A balance transfer credit card or personal loan could be a great option for those that are carrying a lot of debt with a high interest rate.  There are many balance transfer credit cards out there that offer perks such as 0% APR for up to 18 months, as well as personal loans that offer very competitive interest rates.  By taking advantage of these options responsibly, you can save quite a lot of money on interest.

Based on current rates, now may be a good time to see if you can lower your monthly payment on your car by refinancing.  Auto refinancing isn’t as popular as a home refinancing, but can be just as effective when applicable.

If you are travelling, start earning benefits by using a travel credit card to earn points toward future flights and hotel stays.

Have you investigated solar energy?  While there may be some upfront costs, over the long-term solar can equal big monthly savings on your energy bills.

Student loan debt can be crippling, but you do have the power to make it less of a burden through refinancing to save money with a new, lower cost loan.

Did you know you can change auto insurance every 6 months?  Given this, insurance companies are constantly battling for your business so it makes sense to shop around from time to time to see if you can get a better rate.

Take a look at your cell phone bill and truly understand if you need all of that data in the current plan.  There are many cheaper options out there, such as Mint SIM, Tin, Cricket Wireless, Boost Mobile and more where you can lower your monthly payment and save big over the course of year.

Most exercises that you can do at the gym, you can do at home with some creativity.  YouTube is a great resource for coming up with ideas for unique home work outs!

Did you know that tires that are inflated correctly can increase your fuel economy by over 3%?  This can equate to a lot of gas savings over the course of the year.

If you are not ready to cut the cord, consider bundling your cable and internet for even more savings.  There are a lot of options to consider and we’ve even compiled a great list here!

Your water heater can waste anywhere from $36 to $61 dollars a year if its set too high — usually above 140 degrees. Set the temperature around 120 degrees to save money and reduce mineral buildup in your tank.

Replace your incandescent bulbs with LED bulbs to save around $75 a year with these bulbs.

According to The Water Project, an average American spends about $100/year on bottled water, which is 300x the cost of tap water.  Pro Tip: Invest in a filter to avoid paying for the bottles.

Double check the APY of your savings account.  You can start earning a good chunk of change on money that would have just set in a standard savings account or checking account earning no interest by opening up an online savings account.

You can save a lot on gas, car maintenance and potentially get car insurance benefits depending on the amount of time that you use public transportation vs. driving your own car.

Did you know that electrical devices that stay plugged in draw a small amount of electricity that can quickly add up depending on the number of items you have plugged in.  To help decrease your electric bill, unplug these items when not in use.

By air sealing your home, you can prevent drafts that can potentially increase your utility bills without increasing heating or cooling of your home.

This is a great rule for those online shopaholics.  If you see something you like, put it in your cart and enforce a 24 hour rule before you allow yourself to make a purchase.  This way, you will really make sure you want that item and are not just buying it impulsively.