Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Strategy

5 ways to reduce your monthly bills to save money

Making a few changes to your monthly expenses can translate to substantial savings in the long run. To help you to save more money by cutting back on monthly expenditure, here are five easy ways to reduce your monthly bills to save money.

TAGS

Strategy (151) / Beginner (579) / Intermediate (544) / Expert (568) / Tips (143) / Personal Budget (52) / Money Tips (126)

If you want to put more money aside, a great way to do so is to reduce your monthly expenses. In this article, you will discover five ways to reduce your monthly bills to help you save more money, which you can then use to pay off debt or make your first investment.

Reduce your monthly bills to help you save more money, which you can then use to pay of debt or make your first investment.

Reducing monthly expenses can lead to substantial savings in the long run

1. Unplug electronic devices that aren’t being used

A great way to reduce your monthly electricity bill is by unplugging electronic devices that are not in use. Research has shown that devices that are plugged in consume electricity even when they are not charging. In addition, devices that are not in use but are turned off also consume energy as long as they are still plugged in. As the amount of energy that is consumed translates to what you pay at the end of the month, it is best to start unplugging today. 


RELATED LINKS

  • 4 ways to save money you probably haven’t considered

2. Replace all your light bulbs with LEDs

Replacing all your incandescent light bulbs with Light Emitting Diodes (LEDs') will significantly reduce your monthly bills. LEDs cost just a little more than regular light bulbs but will save you money in the long run as they use only a sixth of the electricity that regular bulbs, which will be positively reflected in your electricity bill at the end of the month.

3. Cancel or reduce your internet TV subscription

Another way to reduce your monthly bills is by reviewing your internet TV access. You probably don't watch all of the channels available on your plan, so reducing your plan to fewer channels that you actually watch will translate to a lower bill at the end of the month. Alternatively, of course, you could just cancel your subscription entirely.

Young people can succeed in property investment

Free - No Obligation

Contact us for a home loan health check

4. Downgrade to a cheaper mobile plan

Another way to reduce your monthly costs is to downgrade to a cheaper mobile plan. Mobile phone providers are in tough competition with one another to acquire new clients. Hence, you can get excellent deals on mobile phone plans without having to compromise on your mobile plan needs. Comparing mobile phone plan prices and switching to a cheaper provider is an easy way to reduce your monthly expenses.

5. Consolidate your debt repayments into one small monthly payment

Consolidating your debt repayments into one monthly payment is another way to reduce your monthly bills. If you have a range of different debts with different interest rates, bundling all of them into one simple monthly payment in the form of a debt consolidation loan repayment will reduce your monthly debt repayment costs, which, in turn, will reduce your overall monthly expenses.

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

Taking the kids to Bali? Here’s what to do

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.