Top Five Ways to Save Money on Monthly Expenses

With this economy, a number of experts have suggested way to cut down on grocery spending and other costs to save money. Here are five ideas on how you can save money on monthly expenses that can add up to hundreds of dollars a year.

Adjust your thermostat at home

Make sure you have an adjustable thermostat that allows you to reduce your energy costs while you are away from home. Also, make sure your monthly meter reading is accurate. Most utility companies provide a year to year comparison for you. However, it's best that you ask around your neighbors to find out how much their approximate monthly bill is because it will reveal whether your meter is accurate. A simple scheduled visit from the utility company technician can ensure an accurate meter reading and can save you money.

Reduce your cable bill

Keep a weekly log of what shows your family watch and decide to reduce your cable bill service. Most shows are available in DVDs or for free online. For example, you can rent the entire season of Entourage for free from your local library without buying the HBO cable service. Satellite dish network services are tempting because they offer some many channels, but you really need to ask yourself, do you watch all of these shows?

Review your cellphone plan and reduce your costs

Review your cellphone plan and if you consistently have rollover minutes consider switching to a pay as you go plan instead. Call your cell phone provider and reduce your cellphone plan to the lowest monthly cellphone plan available. Also, if you use your cellphone at home, consider using free internet phone technology such as skype so that you can save your cellphone minutes.

Avoid late fees and pay your utility bills as soon as they arrive

Pay your utility bills as soon as they arrive to avoid any late fees. If you plan to go on vacation, pay two months of utility charges at once so when you return from your vacation, you will not be stuck with late fee charges.

Review your home insurance coverage and determine if you have the right amount of coverage

Review your home insurance coverage and determine if you have the right amount of coverage. Also, get at least 3 or 4 new quotes from other home insurance agencies. Often homeowners sign up with one home insurance company along with their mortgage company and then don't shop around for competitive quotes. The annual insurance rates of a number of plans tend to climb up each year due to consumer inertia or ignorance. Imagine having a 30 year mortgage and staying with the same home insurance company for 30 years! Why would you guarantee the home insurance business for 30 years? Make them provide you with a better quote especially when you have a history of no claims submissions.