How to Reduce My Bills
- 1). Condense the life of your mortgage loan with bi-weekly mortgage payments. While this plan doesn't necessarily lower your monthly payment, you will be able to pay off your mortgage loan in a shorter amount of time and save thousands of dollars in interest. Simply add one half of your mortgage bill to your monthly payment at least once a year. However, ask your lender about pre-payment penalties before using a self-directed bi-weekly payment plan to avoid incurring unnecessary costs.
- 2). Reduce your usage of home appliances and electronics to cut back your monthly utility bill and conserve energy. Operating your dryer, washing machine and dishwasher only at full capacity will reduce the amount of times you must run these appliances and work double duty to save water. Opt for LED lights instead of incandescent bulbs. LED lights require only one fourth of the energy incandescent lights require, and they last 10 times longer. Another simple but often disregarded utility savings tip is to turn off all lights and unplug all appliances when not in use. Appliances such as televisions and computers draw small amounts of current while still plugged in, which slowly but surely adds up on your monthly utility bill.
- 3). Eat at home and shop with a plan in mind to reduce the amount of money spent on your monthly grocery bill. According to the U.S. Department of Agriculture, the price of food for 2011 is expected to increase at least three to four percent, so careful planning is necessary to minimize food costs. Plan your meals ahead of grocery store trips and focus solely on purchasing basic needs to avoid impulse purchases. Shop during the middle of the week, which is the time when most stores run weekly sales. Lastly, purchase items that are near the "best before" or "sell by" date, especially if they will be frozen, to secure discounts.
- 4). Ask for discounts on medical services you intend to pay out of pocket to reduce your medical bills. According to Health Magazine, hospitals and doctors often accept less than full price on medical services for individuals in a financial pinch, if asked to negotiate. If you offer to pay a reasonably reduced amount the same day you receive medical services, many medical billing offices will openly accept the reduced payment, rather than engage in a tedious collection process. If necessary, simply explain your financial situation to the billing office or ask about special grants and programs aimed to help low-income families cover medical bills.
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