Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

How to Reduce the Cost of the Biggest Bills in Your Budget

If you have been looking for ways to save money regularly, you may have thought about skipping your daily stop at the coffee shop and taking a brown bag lunch to work. These are effective ways to reduce spending on small-scale basis, but they require regular effort and lifestyle adjustments. This means that they may be difficult for some people to keep up with. Another idea to save money consistently is to target the larger bills in your budget. By doing so, you may reduce these regular expenses going forward without having to change your lifestyle or habits.

Shop around for Service Providers

Between your Internet and cell phone bills, you may spend hundreds of dollars each month. You may have several options available for home internet service providers, cell phone service providers and more, and each provider may have different rates and plans available. In some areas, you may even get to choose where your home energy comes from and what your rate is for electricity, gas and more. By shopping around and comparing rates, you may save a substantial amount of money regularly.

Compare Insurance Rates

Between home, auto and life insurance, you may easily spend hundreds of dollars or more per month. You may also have an independent health insurance plan rather than employer-sponsored coverage. If you have not recently compared insurance rates for each type of policy that you have, it makes sense to do so today. Even if you shopped around extensively when you set up coverage, many factors can change over the course of a year or two that affect rates. This means that your current providers may no longer offer the best rate available for you.

Refinance Your Mortgage

If you are like most people, your home mortgage payment is your largest expense. This expense may take more time and effort adjusting, but you may enjoy substantial savings through this effort. Talk to a few lenders to explore your options, and determine if this is a cost-effective step. If you rent your home, consider looking for a more affordable place to live when your lease is up.

Each of these tips can result in significant, regular savings in your budget. You may combine the tips together to potentially cut your expenses drastically. Because many people’s budgets tend to gradually expand over time, it makes sense to walk through these steps and to look for other ways to trim expenses every couple of years.

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Integrated Family Community Services is a 501(c)(3) non-profit organization.

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IFCS’ Tax ID # 84-0579740