If you’re like most of us, you’re always looking for ways to save money on your monthly expenses.
You do your due diligence and replace light bulbs, lower your heat, raise the air conditioning, shut off lights in rooms not occupied, and turn off the water while washing up.
These are wonderful ways to start the process and learn how to reduce expense without sacrificing on quality or comfort. But, there are still other untapped and resourceful ways that can bring you additional savings.
If you take your prescription from the doctor and head off to the same drug store you’ve used for many years simply because it’s convenient, you may be spending a lot more than you should.
Not all companies offer the same rates and shopping around and checking out other options could reduce the cost of your monthly prescriptions.
Many doctors also prescribe medications monthly. If you only need to schedule appointments with your doctor once or twice a year, then contact their office and see if the doctor will give you a prescription for a three months’ supply instead of one that has 3 to 6 authorized refills.
By not having to pay the co-pay each month you could save well over a $100.00 a year.
2. Insurance Premiums
Car insurance and homeowner’s insurance are required if one owns the former and still owes on the latter.
If prevents you from losing everything you own in the event of a serious accident. It’s important to take a good look at your current policy and make sure that you are receiving all the discounts.
- Do you have an alarm system in your car or in your home?
- Is your driving record accident-free?
- If so, do you have accident forgiveness?
- Do you have multiple policies with the same company?
Any one of these items brings with it a discount. Check to make sure you are receiving the discounts and that the company you currently have the auto insurance and homeowner’s insurance policies through offers all of these discounts.
Even if you are receiving these discounts it’s still a good idea to shop around for your insurance once a year to make sure you are getting the best rates and all the discounts available.
3. Energy Rates and Deregulation
It wasn’t too long ago that you were at the mercy of the local electric company for their service and rates.
Now, things are changing and many states are deregulated, meaning you can shop around and use another electric company, even one that’s far away. Take advantage of the open markets and the competition it brings.
Gather your bill and contact other electricity service providers to hear their rates and options available. Many electric companies also provide gas services too. This can bring you additional savings by bundling the services together with one company.
The same goes for your cable and your cell phone. Shop them around at least once a year to guarantee you’re paying the least amount possible for the same service.
4. Food Shopping
Many people still don’t know how to shop for their food.
Before heading out to a grocery store, prepare for the visit.
First, make a list of what you need. Once you have the list complete, check online to one of the many legitimate coupon sites that have coupons for print. Don’t make the beginner mistake of taking them all because you get savings; print only the ones that apply to your list.
Second, check the local flyers provided by the local stores either from your mail or from online to see if they have any of your items on sale. If they do, mark next to the food item where to purchase and the price. You may need to go to several stores, but if they are close together you can do it in one afternoon and benefit from the savings.
There are many other ways to enjoy saving money each month such as consignment shops for children’s clothing and furniture, completing surveys from your local stores and never buying anything that’s not truly on sale. Consider these to save even more every month!