1Your Mortgage Company

If you have gradually improved your credit standing over the years since closing on your home, you may be eligible for a lower interest rate. A lowered interest rate could save you several thousands of dollars over the course of a year.

Another option that may be available to you is to extend out the term of your mortgage. Extending the life of your mortgage will lower the amount of money that you spend every month, but it will also increase the amount of interest that you ultimately pay.

Ask if your good-standing credit qualifies you for a decrease in your interest rate and/or a shorter mortgage length. This should help you to save money every single month and over the next several years as you pay down more of the principle on your mortgage.

2Your Credit Card Companies

Credit cards can be a great tool to have at your disposal for helping you to pay for business trips or for helping you to pay for an item that is just out of reach of your monthly budget. However, the interest rates on your credit cards could be costing you as much as an additional thousand dollars a year. Give every one of your credit card companies a call to find out if you can qualify for a lowered interest rate.

If you are initially denied the lowered interest rate then you should consider asking to speak to a supervisor. If that is not successful, be sure to call back in a few months to see if your account can now qualify for that money-saving decrease.

Another way to save money with credit card balances is to transfer the balance from a high-interest credit card to a zero or low interest rate credit card and pay it off faster.

3Your Gym Membership

That monthly membership to your gym is a great investment into your health, and the health of your family. However, you may just find that there are two other companies willing to help you to pay for this great investment into your health. Your medical health insurance company may offer you a full reimbursement of the money spent on your gym membership. A healthy person is much less likely to make use of their medical insurance.

Another option to consider is your actual employer – many companies are very willing to help reimburse their employees for gym memberships because the improved health of their employees can only serve to benefit the company in the long run.

4Your Cell Phone Provider

Give your cell phone provider a quick call to find out if your current contract is about to expire. If it is about to expire, you may just qualify for a steep savings on a brand new upgraded mobile phone. Additionally, you may also qualify for one or more current promotions that can help to provide you with a voice, data, and text plan that better suits your phone use – and your budget.

By taking a good look into how much you are actually using versus how much you are paying for every month, you may just be able to save a significant amount of money off your mobile phone’s monthly plan. If your partner has a separate account, find out if combining your accounts to a shared family plan can also help you to save a bit of money.

If you consistently use fewer minutes than are included in your plan, you may have the option to move to a less expensive plan that includes lower minutes. Most companies do not advertise this plan because they prefer that you sign up for the more expensive option. The only way to have access to these plans is to call the cell phone company.

5Your Financial Institute

Consider your checking account, how can you save money with just a few changes to your current account? A call to your financial institute will allow you to find out more about any current promotions that they might be running. Many banks now offer cash incentive programs when you use your debit card for a variety of expenses. You may be able to earn as much as $100 every two months, just by signing up for their incentive programs.

Are you currently paying a monthly account fee? Find out if there is a way for you to eliminate that fee every month – there are so many free checking account options, it makes little sense to be paying a monthly fee if you can simply switch to a new bank and completely eliminate the fee.

6Your Home And Auto Insurance Companies

When was the last time you shopped around for auto insurance? Home insurance? The average person often goes several years before it occurs to them to shop around for a better deal. Give the insurance companies a call and find out what kind of discounts and promotions you can qualify for.

Have you completed any upgrades to your home? Recent additions of a home security system can help you to cut a fair amount of money off your monthly insurance bill. If you have added a new security system to your car, you may also be able to save money off your auto policy. Be sure to find out if you can qualify for a multi-policy discount.

7Your Home’s Cable, Internet & Telephone Companies

Many companies that offer home cable, home internet, and telephone service also offer bundling services that can help consumers to save a significant amount of money than if they were to have individualized service for each of these items. If you bundle your mobile phone with your cable and home telephone service, you may be surprised at how you can save money – simply with a bundled package.

Don’t forget to ask your customer service representative how to save money with your bundled services as well as with your calling, and entertainment packages.

8Save Money With a Few Phone Calls

If you give it a bit of thought, you are sure to see several other areas where you can save money with a few simple calls to the companies that you do business with.

 

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What Do You Think?

Can you suggest additional methods for people to save money every single month? How have you slashed your monthly spending?