Don’t work harder just to pay off those high bills. Instead, take action to lower those expenses. Many of us don’t realise how much we could be saving by investing in a few different tools. Here are just a few ways to drastically reduce your rates.
Going eco-friendly won’t just save the planet, it will save you money. There are endless ways to go green. When it comes to electricity bills, buying Energy Star rated appliances and halogen light bulbs can make a big difference – these use much less power whilst still providing the same task. When it comes to gas bill, insulation is the key way to lower your rates – the likes of double-glazed windows and loft insulation will contain heat more and have you reaching for the thermostat less.
It’s possible to go all the way and install water recycling systems and solar panels (the latter of which could prevent you from ever paying an electric bill again). A more economical car meanwhile will lower your road tax and have you paying for less fuel.
Don’t settle with your current providers. If they start raising their rates, start shopping around to see if you could be paying a better deal. Sites such as insurance.me are great for shopping for the best insurance deals, whilst sites like saveonenergy.com can save you money on your utility bills. Shop around every few years and see what deals are out there.
Up your insurance deductibles
Your deductible is the amount you’re willing to pay out of your own pocket before getting compensation from your insurer. For example, you may be willing to pay a couple hundred towards any car repairs before your insurance company has to pay up. Upping your deductible can dramatically lower your insurance rates. If you don’t make regular claims, this will save you a lot of money – just make sure you have the means to pay this deductible when disaster strikes.
Get a smart monitor
For helping to lower your energy rates, you could consider installing a smart monitor. This gives you constant readings of how much money you’re spending on gas and electricity. Seeing these costs has been found to lower people’s bills by 15%.
Believe it or not, but you can sometimes lower rates simply by ringing up your providers and trying to negotiate a discount. With phone contracts, TV licenses and sometimes even insurance companies, threatening to leave may result in the company offering you lower rates to stay. Similarly, if bills are overdue, you can often ring up and negotiate an interest-free instalment plan for paying the amount back over a longer period of time – useful for if you’re having a bad financial month. Bartering of course will only get you so far and you won’t get away with it on repeat tries, but it’s worth trying at least once in each instance.