Lowering bill payments is an area you should be looking at and re-visiting several times a year.

I spend a couple hours every few months writing down all my expenses and thinking about how much I need each one. I look for areas to reduce it and better yet, If I can cut the expense all together, I am even happier.

A few years ago I cut my satellite TV bill and couldn’t have been happier. It was costing me over $100 every month. Cutting it I felt ZERO difference in loss of quality of life.

With that said, I want to give you my list of the top 10 things you can do to lower your monthly bills on common expenses.

Check it out below:

1. Refinance your mortgage

Your mortgage is a massive expense that can last 30 years or longer. Small changes in interest rate will dramatically affect how much interest you’ll pay over the life of your loan. One of the biggest places you can save money are areas where you spend the most money on, and your mortgage will likely be the biggest one. Lowering your interest rate just a little bit could save you thousands, if not tens of thousands of dollars over the life of your loan. All you gotta do is speak with your financial institution or other financial institutions about refinancing your mortgage and they can run it through a computer to see if you can get a better rate.

You can see if you can lower your home payments here

2. Bundle your home and auto insurance

You’ll often find companies handing out massive savings if you have several products with them. It’s really smart to have as many products as you can with one company for this reason. So long as the service is good, why spread it out! If you have insurance across several companies, you could save a few hundred dollars a year or more by bundling them under one company.

3. Bundle utility expenses with one company

Like insurance, utility companies also love your business and will gladly give you a discount if you have more services with them. phone, internet, satellite tv, etc, are often offered by big companies. Get it all under one roof if you can. It’s reasonable to save at least 10 dollars a month, and likely more.

4. Get rid of cable tv

The quickest way to cut costs is to get rid of it all together! It isn’t the 80’s anywhere where TV was really the only main form of entertainment at home. We have the internet and you can stream just about anything online, and watch stuff on YouTube. I got rid of my satellite TV and don’t miss it at all. I watch all my content on Netflix and YouTube, and other online streaming services for free or very little money. TV was costing me over 100 dollars every month. Cutting that expense will save me $1000+ every year.

5. Forget cell phone contracts

I haven’t had a cell phone contract for about 10 years now. Because cell phone contracts are expensive. What I do is buy my phone out right and pay a monthly fee for a no contract plan. The benefit of this is that my monthly plan is cheaper, usually $20 dollars or so compared to if I purchased a phone on a 2 year plan. Over time, this saves me money. I also sell my cell phone and get a new one every year or two. This helps me recuperate the cost of the phone. I buy iPhones and they hold their value well. I basically “rent” an iPhone for about 30-40% of the cost of the phone. It’s a great way to always have the latest device while keeping costs as low as possible.

6. Refinance your car loan

Like refinancing your home, your car loan can be refinanced too. If you feel your car loan is too expensive then I really recommend you check out refinancing it. Also, if you have a car loan that is paid back over a long period of time and your credit score has increased during that time, I highly recommend you check out refinancing it because you stand a better chance of getting a better interest rate because your interest rate is dependent on your credit score.

7. Increase deductibles

With all your insurance plans, you will likely have some deductible with it. Increasing it can help save you some money. It usually isn’t too much, but an extra $50 or $100 saved a year isn’t too shabby. All you gotta do is call your insurance broker or company and ask them if you upped your deductible then how much would your new insurance cost. Also, when it’s time to renew your insurance, it’s a great time to ask your agent/broker about this. It’s free to ask and they will check for you and get back to you.

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8. Start eating healthy

Of all the expenses that will drive you crazy, I think medical expenses are the worst and most expensive. Medication for being an unhealthy person is godly expensive and I can’t think of any worse expense to constantly be paying for. Eating healthy is surprisingly not MORE expensive if than eating a standard diet of burger and fries. In fact, eating healthy requires you to cook your own food more often which almost always means lower food costs. Besides having more energy, feeling more alive, and not dying sooner, it will more than likely save you money.

9. Join a $10 gym

$10 gyms are the bombs. It’s really as straight forward as it sounds. I used to belong to LA Fitness. It was still reasonably priced at $40 a month. But at $10 a month, that’s a $30 savings per month, and $360 a year.

10. Get a great credit card

Great credit cards are life savers. I have a premium credit card that I collect points on, and it helps me get a free flight/vacation every year. Considering these things cost $500-$1000, the annual fee of $120 that I pay for the card is well worth it. There are free credit cards you can use to collect points. That’s fine too. The premium cards give you more perks but I know some people avoid paying for credit cards. There are credit cards for all types of rewards/points. I choose travel rewards because I’m a huge jetsetter and I feel the value is best when you look at what you get for points back!

Bonus: Be happy with all the little things life gives you

I would say the BIGGEST thing you can do to lower bills is to be happy with whatever it is you got. The fact that you have it is enough. There are tons of people around the world who don’t have basic things. This is my perspective. And I encourage you to adopt it. It has helped me make the best of what I got and not need to buy the newest this or that, or need to spend money on everything because it felt good at the time.