25 Great Ways to Save on Monthly Bills

9. Don't assume your pharmacy has the best price

Fumiko Chino, an oncologist and board member of the nonprofit Costs of Care, suggests checking whether your medication is one of the dozens on Walmart’s list of $4 medication or if it’s available through the discounter Cost Plus Drugs. Another option for lower-cost medications: Purchase them at a warehouse club like Costco or BJ’s, where you don’t have to be a member to be able to take advantage of their prescription drug prices. Do you have a subscription to Amazon Prime? Members have unlimited access to more than 50 eligible generic prescription medications for a total of $5 a month through Prime’s RxPass program.

If your showerhead was made in the 1990s, it's time for an upgrade, which will give you better water efficiency.

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10. Upgrade your showerhead

Upgrading any showerhead manufactured before the 1990s will result in better water efficiency, since regulatory standards have changed since then. Another key feature to look for: ease of maintenance. Units with removable nozzles or easy-to-clean designs can prevent mineral deposits and scale buildup, which reduces efficiency over time.

11. Use a cash-back extension for online shopping

Browser extensions like Coupon Cabin and Rakuten not only automatically apply coupons when you check out of online stores, but they also give you cash back for certain purchases. Fetch is another browser extension that allows you to earn “points,” which you can then trade in for gift cards. “If you’re shopping online for most of your daily purchases anyway, why not get those points, so you can save on other items that you have to pay for?” Woroch says.

12. Make sure you’re on the right smartphone plan

If you’re not using your phone often for activities like watching movies when you’re not connected to WiFi, you may not need to pay for unlimited data, which can push up your monthly bill.  

“Look at how much data you’re actually using and then look at your wireless provider to see whether there’s a cheaper plan that meets your data usage,” Woroch says.

If unlimited data is a must, see whether your carrier offers it at a discounted rate for older customers.

13. Get a home energy audit

Many power companies will send a pro to your home for free or a discounted price to conduct a home energy audit, which will give you a detailed, custom list of ways you can make your home more efficient — and save money on your utilities. Ask your provider whether they offer such a service. If not, consider hiring an independent home energy audit professional. Get tips for finding one on the Department of Energy’s website at energy.gov/energysaver/home-energy-assessments.

14. Adjust your thermostat (or get one that adjusts itself)

Changing your thermostat’s setting 7 to 10 degrees for eight hours per day can save you up to 10 percent a year on heating and cooling costs. A smart thermostat can do this for you, automatically adjusting the temperature overnight or when you’re not home.

If you’re handy enough to change a light switch, you can likely DIY a smart thermostat installation, as long as it's compatible with your existing HVAC system, says Vishwas Prabhakara, founder and CEO of handyman service Honey Homes. If the system will require retrofitting wires, however, or you’re concerned about your patching and painting skills, consider bringing in a pro.

Subscribing to basic, advertising-included versions of four major streaming services would cost you only $33 per month, according to a 2024 study by technology site CNET.

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15. Cut the cable cord entirely

It’s easier than ever to access the entertainment, including live broadcasts, that you want without having to pay for a full cable package. Enter your viewing habits and preferences at mybundle.tv for a recommendation on the most cost-effective way to access your favorite shows and sports. A 2024 study by technology site CNET found that subscribing to basic, advertising-included versions of four major streaming services would cost you only $33 per month. 

16. Rotate your streaming services

Paying for streaming services like Hulu, Netflix or Max every month, on top of cable, can add up quickly. Instead, choose one streaming service to watch and binge your favorite shows for a few months, then cancel that service and switch to another one.

17. Take advantage of every insurance discount available

You’re probably aware that bundling different types of insurance from the same carrier will save you money, but don’t stop there. Ask your insurance providers to list every potential discount that they offer, to make sure you’re getting every one for which you qualify. For example, many home insurers give a discount if you have a home security system or will lower your rate if you install a fortified roof or upgrade your electrical panel.

18. Stop paying mortgage insurance

If your home down payment was less than 20 percent, you may be paying private mortgage insurance (PMI) every month; typically, PMI costs you between 0.58 percent and 1.86 percent of your loan’s size annually. But if you’ve gained equity since the purchase, thanks to your payments or rising home prices, and now owe 80 percent or less of the home’s value, you may be able to stop paying that extra fee. Call your mortgage provider to find out how to get it removed. 

19. Consider dropping collision coverage on an older car

If you have an older car that you own outright, and the premium for collision coverage amounts to more than 10 percent of its value, consider dropping the coverage, which can save you several hundred dollars a year. Instead, set some cash aside or earmark some savings to cover the cost of fixing your car in the event of a crash or replacing it if it gets stolen.

Getting rid of one vehicle can make a huge difference in your monthly bills.

Sam Island

20. Go down to one car

If your household has two (or more) vehicles, getting rid of one can make a huge difference in your monthly bills. The average annual cost of driving a new, gas-powered, medium-sized sedan is more than $10,000 per year, according to AAA. Even driving a used car can add up, given increased insurance costs and the price of gas and potential maintenance.

Ditching your car, though, doesn’t mean getting stuck at home — even if you don’t live in an urban area. “There are so many more forms of public transportation now available to people in their communities that they might not be aware of,” says Paul Comfort, author of The New Future of Public Transportation.

In recent years, many transportation agencies have invested in “micro-transit” programs, which subsidize the cost of taking a rideshare from your house to a bus or train station. Others allow buses to go a certain amount off their routes to provide door-to-door service to some passengers. Call your local transit agency’s customer service department to see what’s available in your area.

21. Boost your deductibles

Increasing your deductible for both home and auto insurance is another way to lower your insurance premiums. But make sure that you have enough money in your emergency fund to cover the deductible, should you need it, without having to tap into more expensive sources of funds like credit cards, loans or retirement withdrawals.

A medium-to-high deductible is the “sweet spot,” says Michael Giusti, an analyst with insuranceQuotes.com. “Something like a $500 to a $1,000 deductible, or even as high as $2,500, will give you lower premiums, while also making sure you aren’t tempted to claim small things and risk higher premiums, or being dropped altogether," he says.

22. Don’t pay for banking

Among non-interest-bearing checking accounts that levy maintenance fees, the average cost is more than $5 a month, according to Bankrate. But many banks offer no-fee accounts for older customers or waive fees if you meet requirements such as keeping a minimum balance, opting into direct deposit or using your debit card more than a certain number of times per month. Check to see what your bank offers or consider switching to a bank (find one at NerdWallet or MyBankTracker.com) that doesn’t charge monthly fees.

23. Earn cash back or rewards for bill payments

As long as your provider does not charge an additional fee for using a credit card — and you’re able to pay your credit card bill in full each month — consider using a cash-back credit card to pay recurring bills. Some cards offer higher cash back rates on specific types of monthly bills.

The U.S. Bank Cash+ card, for example, allows you to choose two categories, such as home utilities or TV and internet streaming services, to receive 5 percent cash back, while the American Express Green Card pays 3x points for transit expenses, including commuting costs like train fare, tolls and parking. Those points are redeemable, at a discount, for cash.

24. Get a break on credit card interest

This may be as simple as calling your card issuer and asking for a lower rate. Three in four cardholders who did this had their request granted, according to LendingTree. You can lower your rate even further by taking advantage of a balance-transfer card, which typically offers zero percent interest for a time, generally from 12 to 21 months, at the cost of a balance transfer fee, usually in the range of 3 to 5 percent. That can give you some breathing room to pay down your balance.

25. Improve your credit-utilization ratio

Having a good credit score can lower your overall bills, since it unlocks lower rates on loans and insurance. In addition to making timely payments, reducing your credit-utilization ratio — the amount of credit you have compared to the amount you use — is an important factor in boosting your score. Paying down your balance is the best way to improve the ratio, but increasing your limit can help as well. “But it’s important that you don’t just go out and spend all of the new limit,” Schulz says. “You just let it sit there.”