How to Lower Your Bills and Improve Your Finances

Every cent counts if you have a mortgage to pay. It is thus important that you minimize your expenses in order for you to pay off your loan sooner. You could start off by lowering your household bills. Once you take a closer look at the figures, you will realize that you're probably paying too much for some services that you rarely use. Here are some tips you could follow to help you save money from your bills:

  1. Consider bundled plans. If you're paying for your mobile phone service, internet and cable connection separately, it's time to consider getting a bundled plan. Some companies have all-in-one plans that provide you with all the services that you need in an affordable package. Depending on your plan of choice, you might be able to save up to $50 a month. It's a significant amount that could help you pay off your loan sooner.
  2. Get rid of services you don't need. Unless there are several people in your household, downgrading to a slower internet connection might be a good idea. The same thing goes with your cable subscription. If you could customise the channels based on your preferences, try getting rid of channels you rarely watch.
  3. Stick to one credit card. The simplest rule to lowering your bills is to never spend more than you earn. But having multiple credit cards has made that quite impossible to follow. In that case, you should seriously consider having just one credit card. If you have several in your possession right now, pay them off until you're left with one. In addition, have your credit limit lowered and request a stop to automatic increases to it. It's easier to manage your finances that way.
  4. Look for great deals. There are many kinds of deals you could take advantage of if you know where to look. Grocery coupons, for example, could help slash your monthly expenses by several dollars. Meanwhile, group buying websites could also get you great deals at restaurants and on services. Just remember to stick with reputable websites to make sure you don't get burned. All these strategies enable you to live the lifestyle that you want without going over budget.

Speaking of great deals, it's a lot easier to find one at Rate Detective. Our professional advisors are ready to help you compare the rates of Australia's top lenders, so you could pick a home loan that's right for your needs and budget. Contact us today for more details!

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Published on November 11-nd, 2012 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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