6 Monthly Bills That Almost All of Us Overpay
You’ve done what you can to cut back your spending.
You brew coffee at home, you don’t walk into Target and you refuse to order avocado toast. (Can you sense my millennial sarcasm there?)
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: rent, utilities, cell phone bill, insurance, groceries…
Although we can’t swipe these off the table for you, we can stop you from OVERPAYING them…
1. Credit Cards: Get Rid of up to $100,000
Your credit card is getting rich by ripping you off with insane rates, but a company called Fiona could help you pay them off tomorrow (if the balance is under $100,000).
Here’s how it works: Fiona will match you with a low-interest loan you can use to pay off every credit card balance you have. The benefit? You’re left with just one bill to pay every month, and because the interest rate is so much lower, you can get out of debt so much faster. Plus, no credit card payment this month.
Take, for example, Katherine, who faced $12,000 in credit-card debt. Holding her back? The 15.24% interest rate. By refinancing with a 5%-interest, seven-year personal loan, she saved $12,000 in interest.
If she’d kept on the same road, she would have paid something like $14,000 in interest alone over 25 years. Yikes
Fiona won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
2. Life Insurance: Take Back $100s
If you’ve thought about how your family would manage without your income after you’re gone, chances are you’ve looked into life insurance.
But, so often we end up not following through on it because it takes too much time or money.
But your application shouldn’t take more than about five minutes — and you could leave your family up to $1 million by spending 83 cents a day on life insurance with a company called PolicyGenius.
You can change or cancel your plan at any time. Plus, the security of knowing your family is taken care of is priceless.
Want to leave your family $1 million? It takes two minutes to get a free quote.
3. Car Insurance: Cut Your Bill By $670 (With The Same Coverage)
When was the last time you shopped around for car insurance? Was it more than six months ago?
If so, you’re probably overpaying — by hundreds of dollars. Yep. Experts say you should compare rates twice a year to get the best deal.
Twice a year? Yeah, we don’t want to do that either.
A service called Zebra does all the shopping for you to find cheaper insurance — with the same coverage and deductibles you already have. And it saves customers an average of $670 a year.
We talked to Artie Januario, who found new insurance through The Zebra and managed to knock off $30 a month — or $360 a year — from his premium.
All you have to do is enter basic information about your car and driving history, then The Zebra compares prices from more than 100 companies to find you the best price.
4. Homeowners Insurance: Let This Company Take Up to 25% off
You’ve probably had the same home insurance policy since you signed the closing papers on your house. You’re probably also paying way too much.
Things change. There are better deals out there. In fact, an insurance company called Hippo could cut this year’s bill by up to 25%.
We know what you’re thinking. Getting homeowners insurance was a pain the first time you bought it. But with Hippo, it only takes 60 seconds to grab a free quote online.
Even better, Hippo will show you extra ways to cut that bill. Got a fire extinguisher in your home? Belong to an HOA? That could mean another combined 5% to 15% in savings.
After you get your free quote, you could have new insurance in as little as 10 minutes.
5. Cell Phone: Cut Your Cell Phone Bill by More than Half
You’ve probably had the same cell phone company for a while. And you’re probably paying way too much for your service.
But with discount carrier Twigby, you could cut your bill by more than 66%.
It worked for Zak Wilson. He’d been paying Verizon Wireless about $180 a month for two lines. So he tried Twigby. For both phones, he’s now paying $60 a month.
With Twigby, you get to build your plan. Each plan comes with unlimited texts, then you choose how many minutes and how much data you need each month. Plans also include free Wi-Fi calling and texting.
Twigby uses both the Sprint and Verizon networks for its coverage. Plans start at just $9, and you can bring your own phone. Plus, new customers get 25% off the first 6 months of service.
6. Gas: Save up to 25 Cents/Gallon on Gas
Filling up with gas can easily eat up a good portion of your monthly budget, which is the worst, because commuting to work and hauling the kids around town isn’t even fun.
The good thing is there’s an easy way to cut back on your gas tab — without driving across town to the cheapest gas station. It’s called GetUpside, a free app that can save you up to 25 cents per gallon on gas.
This is perfect for those of us who don’t want to put a lot of time or effort into saving money on gas. Once you download the app, connect the debit or credit card you use to pay for gas, then find a nearby station and claim the best deal. Then, after you fill up, snap a photo of your receipt.
The whole process takes no more than a couple of minutes. You’ll earn cash, which GetUpside will send to you through PayPal or a check. To date, the app has paid its users more than $10 million.
Oh, and here’s a bonus: If you live in Chicago, D.C., Houston, Maryland or Virginia, you can get up to 35% back at restaurants.
To get started, just download the app and use the map to find the best deals in your area.