How to lower your monthly bills

The fastest way to lower your monthly bills is to list every recurring charge, then call or switch the biggest ones: phone, internet, insurance and subscriptions. One afternoon of calls often saves $100 or more a month, and that saving repeats every month without any more effort.

List before you cut

Pull two or three months of bank and card statements and write down every charge that repeats. Forgotten subscriptions and small add-ons often show up only when you see them all in one list.

Shopping beats asking

Asking for a discount sometimes works, but having a real competing price works more often. Insurance especially can vary a lot from one company to the next for the same coverage.

Help exists for phone and utility bills

The federal Lifeline program takes up to $9.25 a month off phone or internet service for households at 135% or less of the Federal Poverty Guidelines or on programs like SNAP or Medicaid. LIHEAP helps eligible households with heating and cooling bills.

Small home changes cut energy bills

The Department of Energy estimates you can save as much as 10% on heating by setting your thermostat back 7 to 10 degrees for 8 hours a day, such as while you sleep or are at work.

Make a list of every recurring bill

Go through your last two or three months of bank and credit card statements. Write down every charge that repeats, the amount and the due date. Include the yearly ones, like car insurance paid every six months or a membership that renews once a year.

Sort the list from biggest to smallest. Rent and loan payments are hard to change quickly, so set them aside for now. The rest, phone, internet, insurance, utilities and subscriptions, is where an afternoon of work pays off.

Cancel what you don't use

Subscriptions are the easiest cut. Streaming services, apps, gym memberships and boxes that ship every month add up quietly. Cancel anything you haven't used in the last month, and rotate streaming services instead of keeping them all at once.

The FTC says companies must make canceling simple. If a company keeps charging you after you cancel, contact your card issuer to dispute the charge, and report the company at ReportFraud.ftc.gov. You can also stop automatic payments through your bank.

Shop your insurance

Car and renters insurance prices can differ a lot between companies for the same coverage. Get quotes from at least three companies with the same coverage limits and deductibles you have now, so you are comparing like for like. Ask about discounts for bundling, a clean driving record or paying in full.

Raising your deductible lowers the premium, but only do it if your emergency fund could cover the higher deductible tomorrow. Never drop coverage you are required to carry, like your state's minimum car insurance.

Call your phone and internet providers

Check how much data you use each month on your phone. If you use far less than your plan includes, a smaller plan or a prepaid plan can cost much less. For internet, check your speed against what you pay for. A lower tier is often fine for streaming and work calls in a small household.

When you call, have a competing price ready. Say: "I'm reviewing my bills and found service for $X elsewhere. What can you do to lower my bill?" If the first person can't help, ask for the retention or loyalty department. Write down any new price and when it ends.

Lower your utility bills

Heating and cooling are usually the biggest part of a home energy bill. A programmable thermostat, or turning the dial back yourself at night, can save as much as 10% on heating, according to the Department of Energy. Lowering a water heater from 140 to 120 degrees also cuts energy use.

Ask your utility about budget billing, which spreads your yearly cost into equal monthly payments, and about any hardship or payment programs. If money is tight, LIHEAP, a federal program run through states, helps eligible households pay heating and cooling bills. You can find where to apply at EnergyHelp.us or by calling 1-866-674-6327.

Send the savings somewhere on purpose

Money freed from a bill tends to disappear into everyday spending unless you move it. Add the exact amount you saved to your automatic savings transfer or your extra debt payment the same day you make the change.

Then put a reminder on your calendar for when any promotional rate ends. Promotions often last 6 or 12 months, and the price jumps back up unless you call again.