6 Monthly Bills Nearly Everyone Overpays (Plus Easy Steps to Get Them Lowered)

You’ve done what you can to cut back your spending.

You brew coffee at home, you avoid the candle aisle in Target and you cut cable out of your life.

But no matter how cognizant you are of your spending habits, you’re still stuck with those inescapable monthly bills. You know which ones I’m talking about: utilities, cell phone, credit cards, groceries…

Although we can’t swipe these off the table for you, we can stop you from OVERPAYING them…

1. Electric Bill: Do a DIY Energy Audit

If you’re like many of us, it seems like no matter what you do, your electric bill continues to creep up and up each month. But here’s an easy trick to find out if you’re wasting money: Do a DIY energy audit.

Many electric companies will do this for free, but if you want to take matters into your own hands, the Department of Energy offers some simple tips:

• Find air leaks. Check for any gaps along your baseboards, doors, windows, switches and electrical outlets. Seal any leaks with caulk, weatherstripping and other appropriate material.
• Inspect your heating and cooling units. It’s a pain, but you should replace the filters regularly.
• Take inventory of your lighting. The Department of Energy says this accounts for about 10% of your energy bill. Save money by using energy-efficient bulbs, sensors and timers.
• Unplug the vampires — the appliances and electronics that suck away energy just by being plugged in. Think: Toaster, game consoles and hair dryers.

2. Phone Bill: Cut Your Bill to as Little as $5

When you’re trying to save money, every dollar counts. If you’re looking for bills to cut back on, we suggest looking at your cell phone provider.

How long have you been with your current company? Probably a while, right? Which means you’re probably paying way too much.

But we found a discount wireless company called Tello Mobile that offers plans starting at just $5 a month. How much are you paying now? Exactly. Imagine cutting that to just $5.

Tello recently switched to a nationwide GSM network, which means improved 4G LTE/5G coverage, faster data speed and a more stable network. It lets you choose a wireless plan based on how many minutes and how much data you want, and you can even use Tello’s coverage tool to see how strong its network is where you live. More than 7,000 customers have given it an excellent rating on Trustpilot.

Plus, Tello is super flexible. It lets you choose the plan that makes sense for you. Plans are priced based on how much data and how many minutes you want. For example, a family of four can get 2GB of data each, plus unlimited talk and text for just $56 a month total. Free hotspot and unlimited texts are included in every plan. Plus, there are no early termination or activation fees, no contracts or phone-exclusive plans and no tricks of any kind.

It’s easy to get started and see how much you could save. Tello makes it simple to switch and even keep your phone number. No need to even leave the house — you can do everything online. You can bring your own GSM phone or buy a new one through them. See how much you could save.

3. Car Insurance: Stop Giving Your Car Insurance Company Extra Money

When was the last time you compared car insurance rates? Chances are you’re seriously overpaying with your current policy.

If it’s been more than six months since your last car insurance quote, you should look again.

And if you look through a digital marketplace called SmartFinancial, you could be getting rates as low as $22 a month — and saving yourself more than $700 a year.

It takes one minute to get quotes from multiple insurers, so you can see all the best rates side-by-side. Yep — in just one minute you could save yourself $715 this year. That’s some major cash back in your pocket.

So if you haven’t checked car insurance rates in a while, see how much you can save with a new policy.

4. Credit Cards: Ask This Website to Help Pay Your Credit Card Bill This Month

Every month, you make payments toward your credit card debt. But you never seem to make a dent. It’s because of those sky-high interest rates — as much as 24% interest. It can feel impossible to get ahead.

But MoneyLion could help you find offers to cut your interest rate by 70% as soon as tomorrow.

Here’s how it works: MoneyLion can match you with new loan offers at a lower interest rate — as low as 5.20% APR*. That’s 70%* lower than the average credit card interest rate. And it’s the key to finally getting ahead.

You can use this new loan to pay off all your existing credit card debt, then you’ll be left with one (cheaper) monthly payment that will help you get out of debt faster.

If you have a credit score of at least 620, you could get up to $100,000. With no collateral. And terms go up to 144 months.

Worried you won’t qualify? Take two minutes to check online and see if you could cut your credit card interest rate by 70%.

*Based on creditworthiness. Average credit card interest rate is 24.72% as of 8/14/23, according to Forbes Advisor’s weekly credit card rates report.

5. Bank Fees: Avoid Monthly Fees and Grow Your Savings 16x Faster

If you’re saving some money for your future, that’s great! But if your savings are in a typical bank account, chances are your money isn’t growing as quickly as it could be.

But there’s a legitimate way to grow it a lot faster than the average person — more than 16 times faster.

It’s with a mobile banking app called Varo. The FDIC reports that the average savings account pays a paltry .05% APY*, but when you open an online checking and savings account with Varo, it will pay you more than 16 times that amount on your savings account.

Oh, and there are no monthly fees.

We know opening a new bank account isn’t exactly everyone’s idea of fun, but Varo makes it easy. You can open an account with just a penny, and more than 750,000 people have already signed up.

*https://www.fdic.gov/regulations/resources/rates/

6. Groceries: Get Paid Every Time You Buy Toilet Paper

Grocery shopping was never exactly pleasant. But these days, it’s a downright struggle. Fighting crowds; keeping six feet of space — just buying toilet paper has been a feat. Shouldn’t you have something to show for it?

A free app called Fetch Rewards will reward you with gift cards just for sharing your grocery receipts. Yep, that includes toilet paper brands like Cottonelle and Scott, too.

Just upload the photos of your receipts to the app and Fetch will reward you with gift cards to places like Amazon, Walmart, Chipotle and dozens of other retailers.

And it’s perfect for those of us who don’t want to put a ton of work into this. All you have to do is send Fetch a photo of your receipt, and it does everything for you. No scanning barcodes or searching for offers — and you can use it with any grocery receipt.

When you download the app, use the code PENNY to automatically earn 2,000 points when you scan your first receipt. Then start snapping photos of your recent receipts to see how many points you can earn without a single trip to the store!

Not so bad for a useless receipt, right?