DETROIT – If you're looking to trim your monthly costs take a close look at credit card and bank statements and spot the recurring expenses.
Andrea Woroch, a consumer savings expert, says there could be subscriptions or memberships that you're paying for, that you don't even know about. While it might be only a couple of dollars for a video game that your kids signed up for that's still money you might have forgot you were spending.
"A lot of times I find that people overlook those small reoccurring expenses," Woroch said. "When you add them up collectively, it could be a big savings if you cancel or reduce those, those subscriptions (and) memberships"
For the bills and costs you don't want to give up, Woroch suggests trying to negotiate the costs down.
"You can call your cable provider, your internet provider, your mobile plan, even your insurance companies to see what deals they have available to their loyal customers," Woroch said.
Do your research first on what plans are available to help with the negotiation. Woroch recommends checking out https://billcutterz.com/ for help negotiating your bills.
She says chances are you can get your monthly rates cut down simply by asking.
Another way to save money is to consider switching to a lower-tier data plan if you're home more now and using your wi-fi.
Streaming services can be another place to look for savings, especially if you are already paying for more than one service.
"You don't have to pay for all these different video streaming services. first of all, if you have Amazon Prime, you have access to prime video, and they also give you e-books and audiobooks so try to use that as much as possible for video streaming," Woroch said. "Also look at your mobile carrier. a lot of them offer free video streaming services. So Sprint, for instance, offers a free subscription to Hulu. So that's a good savings and you could just use Hulu for your entertainment needs."
She also recommends checking out what your local library might offer for streaming options. Many libraries offer programs through Hoopla Digital, Overdrive and Libby.
Another bill to review is your insurance for cars and your home.
"I recently did this and save nearly $1,100 on my annual premium," Woroch said.
She suggests shopping around and to consider using online marketplaces to help come up with quick price quotes.
Websites she recommends: Policygenius.com and https://www.insurance.com/ for comparing insurance rates on homeowner’s insurance, as well as theZebra.com for comparing auto insurance rates.
Remember, just because you cancel a service now, that does not mean you can’t go back and add that expense back into your budget later.
For more money-saving advice from Woroch, check out her website.