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Smart Ways To Cut Costs on Your Most Expensive Bills

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Staying in control of your money is one of the most important skills you can learn in your adult life. Whether your budget is big or small, knowing exactly what’s coming in, what’s going out and how you can afford everything you need is crucial. By doing so, you avoid debt, preserve your credit score and aren’t constantly running out of money before payday. Everything runs more smoothly, and you avoid the stress that many people feel regarding finances. One of the ways you can help to regain control of your money is by slashing your monthly bills, which then frees up money for you to spend elsewhere. Here are a few ways you can go about it.

Gas and Electricity

We all need gas and electricity to power our homes so you might think this is a cost that simply can’t be cut. However, there are plenty of ways to bring these down. First, have a chat with your provider, find out if you’re on the best tariff and enquire if there are any ways to save money. For example, some might offer a reduction if you have both gas and electricity from them (rather than using two separate companies). Others might offer a reduction if you pay by direct debit, and it’s almost always cheaper to pay a bill as opposed to a pay as you go meter. The only trouble with this is, it’s also easy to run up large bills. So decide which would be best for you. You can also save money on gas and electricity by using less of it. Turn off lights and appliances when you’re not using them, and replace your bulbs with energy efficient LED bulbs. Not only is this good for saving money but it’s good for the environment too.

Debt Costs

The thing about debts is they can easily get out of control because most loans, credit cards and other forms of credit have high-interest rates. The more you spend, the more interest you pay, and it can reach the point where you’re making hundreds in minimum payments each month, and it’s only paying the interest. So the debt itself never actually goes down. You can end up paying many times more than what the original amount you borrowed cost, and all in all it’s quite easy to end up on a bit of a mess with it all. Don’t bury your head in the sand, seek financial debt help and get yourself back on track. Many debt companies and charities can work to have interest frozen and debt reduced to a manageable amount which can make life so much easier. That way every penny you pay is reducing the total and not getting sucked up by the interest.

Grocery Bill

Your food bill will be one of the biggest expenses each month. And of course, food is important. We need to eat the right diet to thrive and stay healthy. But there are plenty of ways you can do this while still keeping costs down. Every week, write up a menu plan and shop for these items. That way you’re not buying things you don’t need and getting tempted by offers and deals that you won’t even use. Have a well-stocked store cupboard with plenty of dried foods, herbs and spices, tins and jars. That way if you’re having a leaner week with money you can whip up tasty meals with what you have in. You could also consider batch cooking foods. Stock up on veggies which are cheap to buy, and cook them into soups, stews, curries and other dishes. Pop in the freezer and you have healthy, home cooked meals whenever you need them.