You're Probably Overspending on These 6 Monthly Bills

Last updated Jun 1, 2020 | By Tracy Odell
woman stressed paying bills

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It's no secret that big corporations are out to maximize profits. The cable companies, cell phone companies, insurance companies — they all want a bigger and bigger piece of your monthly budget. The secret they won't tell you — you could be paying less without sacrificing service, coverage, or quality. 

You don't need to "know a guy" or learn a secret passcode to get these savings. In fact, it's easier than ever to cut your bills because of all the new apps and companies lining up to help you stick it to the cable guy. 

6 bills you can stop overpaying today

1. Save up to $610/year on auto insurance

Are you staying home and driving less? If you answered yes, today could be your best opportunity to lower your auto insurance premiums. With driving and auto insurance claims down, insurance companies are offering discounts now, but they might not last.

With Provide, you can compare car insurance rates from insurance carriers and regional agencies in just five minutes. See the best prices from all these insurance companies, all in one place, and pick the one that saves you the most for the coverage you want. Compare auto insurance quotes here.

2. Life insurance for less - starting at $1/day

Here's a secret: life insurance agents often push expensive policies because their commissions are tied to the policy premiums you pay. The higher the premium, the more THEY get paid.

If you want to get the coverage you need for a fair price, you can skip the agent and get a quote online. With lifeinsurance.net, you can either buy your policy online or work with an agent over the phone who will listen to your needs and guide you to a policy with the best coverage for your budget. The price you pay will be based on your age and health, not someone else's commission. Get a free quote now.

3. Ask this company to negotiate your credit card bill down

Credit card interest can pile up quickly and you might need some help getting things back on track. If you've found your credit card balances have gotten out of control, Freedom Debt Relief will work with your creditors to reduce debt and get your finances back on track without needing a loan.

With Freedom Debt Relief, you could resolve your debt in as little as 24-48 months with one low interest monthly payment, even if you don’t have great credit. Get your quote here.

4. Get money back on your grocery shopping without clipping coupons

Grocery bills are one expense that will never go away. You may already clip coupons and looks for sales, but there's one more thing you can do. With the Fetch app, you can earn cash back just by taking a photo of your grocery receipt.

Fetch works whether you shop online or in-store. After you're done shopping, just snap a photo of your receipt and you can earn points that you can redeem for gift cards at popular stores like Amazon, Target, and Home Depot. Get the Fetch app here.

5. Let expert negotiators help lower your cable and phone bills

If you've ever called the cable company or your cell phone company with a billing question, you know how valuable it could be to have someone by your side to negotiate with them.  

An app called Trim will do just that. They'll negotiate your cable, internet, phone and medical bills on your behalf. With their help you'll see if they can lower your bills without sacrificing service. Trim can also analyze your spending and find old subscriptions you might be paying for, but not using. Get the Trim app here.

6. Lower your power bills in under two minutes

This is a two-for-one special. You could lower your utility bills while also helping the planet by moving away from fossil fuels. Arcadia Power can help you transition to cleaner energy sources like wind and solar and you'll pay less.

There's no installation needed and no interruption in service. Just connect your utility account with Arcadia and they'll show you the energy sources available to you. They'll also track your savings over time. Check availability here.

More ways to save

Finding cost savings can feel a bit like a game of "whack-a-mole." You find one way to save and another bill pops up. The good news is that many of these cost savings are not just one-time savings. If you decrease a monthly bill, you can see savings for months to come. That $20/month is a whopping $240 over the course of the next year. 

Here are some more places to look for savings:

Don't carry a credit card balance. We're big proponents of using credit cards that earn cash back or travel rewards - you can earn hundreds or even thousands of dollars in rewards every year just by using the right credit card. For example, with the Citi Double Cash card, you can earn cash back twice: 1% when you buy + 1% when you pay.

Avoid banks that charge monthly maintenance fees.  There's no need to pay bank fees. If your bank charges you a monthly fee just for using them, you're throwing money away. In addition to the monthly maintenance fees, some banks charge fees to use ATMs or if you don't maintain a minimum balance. It's easy to switch to a bank that offers no-fee checking.

While you're shopping for banks, don't forget about your savings. Look for a bank that offers a high interest rate so your money is multiplying until you need to use it. You can see some top savings accounts here. 

Use a budgeting app. If it feels like money is flying out of your bank account and you're not sure exactly where it's going, you could benefit from using a budgeting apps. There are many apps to choose from. One of our favorites is Digit. The Digit app's algorithms analyze your spending habits and helps you start saving more money without needing to make any lifestyle changes

Earn Cash Back Twice

Citi Double Cash Card

Citi Double Cash Card

Citi Double Cash Card

Benefits

  • 0% intro APR on balance transfers for 18 months
  • 2% cash back on all purchases - 1% when you buy and 1% when you pay
  • No annual fee