NASHVILLE, Tenn. (WKRN) — Cutting costs is top of mind as prices for everyday items skyrocket.
There are two costs you can control easily – your monthly cell phone and energy bill.
It is easier than you think, if you follow some simple steps suggested by financial expert for Nerdwallet, Kimberly Palmer.
“Utility bills are just higher than ever.” Palmer continued, “If you can take some time to make sure your windows, your doors are not leaking air, that can actually ensure that you’re not spending more than you need to on air conditioning.”
You can also bump up the thermostat to knock down your monthly bill.
“If you can adjust your thermostat, sometimes by even just a few degrees, it significantly reduces the amount you’re paying. And there’s no reason to cool your house down if you’re not in it all day,” she explained.
Take inventory of your appliances. Palmer said older models consume more electricity.
“It can be worth it to upgrade even though it’s expensive to buy that new appliance, it actually will save you money over time,” she said.
However, before making that big-ticket purchase, Palmer said plan ahead.
“We have a lot of summer sales coming up in July. So, it’s a really good time to buy some of those new items. You want to make sure you’re tracking prices ahead of time and use a browser extension like honey or a coupon cabin.”
Palmer added, “Say you’re shopping for a new dishwasher, and you’re not really sure which retailer will have the best deal. Well, you don’t have to do that work yourself, because this browser extension, whichever one you’re using, will pop up and let you know, not only if a price is lower somewhere else, but also if there are coupon codes available. It will apply that automatically.”
Cell phones – another monthly bill calling for a price cut.
“Consumers don’t realize how much power they have when it comes to their phone bills because you can shop around.”
Palmer said it’s a good idea to join a family plan, “You don’t have to be in the family necessarily to share a plan with people. You can do it with friends, roommates can do it together.”
Another tip to cutdown your phone bill, sign up for automatic payments. Many providers give discounts to auto-pay customers.
Inflation has families looking at ways to save money. News 2 shows you some simple steps to help ease the burden in our special reports “Cutting Costs.”