10 Ways to Save Big on Monthly Bills

As the year goes by, the amount we are spending on bills, gas, food and just about everything has gone from manageable to down right tough. Here are some practical ways to save on your monthly bills. Some of these ideas were from an article in the Sept. 2008 ShopSmart Magazine.

1. Heating – Keep your thermostat at no higher than 68 degrees. For every degree you lower your thermostat you save 3 percent.

2. Phone – You can save on average $30 a month if you disconnect your land line. Most everyone has a cell phone and can do without a land line. If you need a land line for Internet service ask about a bundle package that combines TV, Phone and Internet.

3. Water – Set your hot water heater at 120 degrees. You can cut up to 5 percent off your energy bill with each 10 degree reduction in temperature.

4. Laundry – Wash in cold water when you can and hang to dry or take clothes out of the dryer when they are still a bit damp, this will save money and your clothes will be easier to iron.

5. Lighting – In a post from Greenglancy, Green Lighting, it talks about the benefits of CFL’s(Compact Fluorescent Lights). Switching to CFL’s can save you $5 a year or more per bulb.

6. Cooking – Microwaves use 20% of the energy a full-size oven does, so use your microwave more.

7. Prescriptions – Switch to Generics. Generics can save you 20-50 percent.

8. Credit Cards – Save on interest by paying off your balance every month. If that’s not doable, stop using the credit card and pay with cash.

9. Insurance – Comparison shop if you are renewing a home, auto or life insurance policy. Check out Insurance.com, or insweb.com.

10. Refinance – Interest rates keep dropping, so consider refinancing your mortgage. To compare refinance quotes check out MortgageLoan.com.