Recurring bills are the easiest place to save money that stays saved: make one change and it pays you back every month. This checklist goes bill by bill, starting with the changes that usually save the most for the least effort.
The short version
- List every recurring bill first; you can’t cut what you can’t see.
- Promotional rates end. Call before they do and ask what’s available.
- For electricity, heating and cooling matter far more than unplugging gadgets.
- If money is tight, ask about assistance programs; many households qualify and don’t know it.
Start with a 20-minute bill inventory
Go through one or two months of bank and card statements and write down every recurring charge, what it’s for, its due date, and whether the price is promotional. Our subscription cost calculator is a quick way to total the smaller ones.
Internet
- Check your speed against what you use. Many households pay for far more speed than they need. Run a speed test at a busy time and compare with your plan.
- Read the broadband label. Internet providers are required to show standardized “broadband facts” labels with prices, fees and promotional terms, which makes plans easier to compare.
- Buy your own modem/router if your provider charges a monthly equipment fee and allows it. Confirm compatibility first.
- Call retention. Before your promo ends, ask the provider what plans or discounts are available. Have a competitor’s price ready.
Phone
- Look at how much data you actually use (it’s in your phone’s settings and your carrier account).
- Compare prepaid and smaller carriers (MVNOs), which often run on the same major networks for less. Check coverage maps for your area first.
- Ask about multi-line, autopay, employer or military discounts.
- If you are financing a phone, note when it’s paid off; that’s the moment to switch plans without penalty.
Electricity and heating
Heating, cooling and water heating are usually the biggest energy costs in a home. Small electronics matter much less.
- Start with the thermostat. ENERGY STAR says that for the average American household, almost half the annual energy bill goes to heating and cooling, more than $900 a year. Small changes to your temperature settings, especially while you sleep or are away, matter more than unplugging gadgets.
- Lower your water heater to 120°F if it’s set higher.
- Seal drafts around doors and windows with weatherstripping and caulk.
- Find out what your appliances cost to run. A space heater or old second fridge can be surprisingly expensive.
- Ask about budget billing, which spreads costs evenly across the year. It doesn’t lower the total, but it prevents winter and summer bill shock.
Insurance
Car and home or renter’s insurance prices change, and loyalty is rarely rewarded. Once a year, get two or three quotes for the same coverage. Ask your current insurer about discounts for bundling, a higher deductible (if you have savings to cover it), a safe-driving program, or paying the premium in full.
Subscriptions and memberships
Streaming, apps, cloud storage, meal kits, gyms: individually small, together often $100 or more a month. Rotate streaming services instead of keeping them all, and cancel anything you haven’t used in 30 days. Our step-by-step guide shows how to cancel subscriptions without getting stuck in a retention loop.
If you’re struggling to pay
- Call before you miss a payment. Utilities and lenders often have payment plans or hardship programs.
- Energy bills: the federal Low Income Home Energy Assistance Program (LIHEAP) helps eligible households with heating and cooling costs through state and local agencies.
- Phone and internet: the FCC’s Lifeline program provides a monthly discount on phone or internet service for eligible low-income households.
Put the savings to work
Money you save on bills disappears into everyday spending unless you give it a job. Move the difference to savings or debt the day the lower bill takes effect, and update your monthly budget.
