5 US monthly expenses that can easily be cut

It’s not as difficult as you can imagine, cutting down on running costs and saving hundreds or even thousands of dollars a year. Writes about it Money Talks News.

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Your expenses and cash outflows may be higher than they should be. In fact, sometimes, you can cut them back for hundreds of dollars.

1. Phones

Everyone has mobile phones, but tariff plans can be expensive, especially with an unlimited Internet usage limit.

Here is what you need to do:

Analyze your plan and monthly usage. Cut costs by cutting or eliminating data or services that you don’t use.

Rate competitors' bids.

Call your service provider. Ask for a rate cut by indicating how long you have been a customer and stating that you will go to a competitor.

Ask if any promotions or special rates are available for a limited time.

Be prepared to leave your current operator if you do not receive your request.

2. Cable TV

Because consumers can opt out of cable TV in favor of streaming services such as Philo, Hulu, Sling, Amazon Prime, and Vudu, cable providers are keen to retain customers.

A few tips:

Identify cable companies with lower prices to gain an advantage in negotiations.

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If you have successfully negotiated a better rate, review your monthly reports to make sure the cable provider has actually done so.

3. Credit cards

If you have a high interest rate on your credit card, your minimum monthly payments will not greatly reduce your overall balance.

However, credit card companies can work with you to lower your minimum payments, interest rate, and even total debt.

Start by looking at all your accounts. Decide what monthly payment you can actually reduce.

Depending on the size of the debt, you may need a reliable loan consultant. These people give advice, identify options, and help protect your credit. Two non-profit organizations, the National Credit Counseling Facility and Consumer Credit Counseling, offer consumer-oriented services.

4. Auto insurance

Find out what level of coverage is required, depending on where you live, including state requirements for personal injury and property damage.

If your contributions are 10% or more of the value of the car, paying this insurance may not be worth it. Try to drop some aspects of insurance.

Think about paying for “car insurance per mile”, that is, based on how much you drive.

After you have chosen an insurer, continue to compare offers of other companies at least once every two years, maybe you will find something more profitable.

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5. Medical bills

Even if you have health insurance, your medical bills may be too large. If so:

Learn how to negotiate lower medical bills.

Ask for a significant reduction in your outstanding balance or interest-free repayment plan.

Make an offer, for example: “Suppose I give you half the amount I owe, but today?”

Be sure to charge a fair interest rate.

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