Smart ways to save money on your fixed expenses
Everyone is trying to find new ways to save money in today’s economy, but what about saving on your fixed expenses? You might think that because they are fixed, there’s no way around them, but here are tips to help put a little more cash in your wallet.
The folks at CBS Boston offer some food for thought when it comes to saving money, specifically on fixed expenses. Some of their tips include:

Get a roommate. If you rent an apartment that allows space for another person, see if your landlord will allow you take on a roommate; this will cut your rent in half. If you’re single and own your own home, having a roommate could save you as much as $1,000 a month on your mortgage.

Review your insurance policies. Some providers allow you to combine policies, such as auto and renters insurance, which can save you money without affecting your coverage.

Control your electricity. Save on both your heat and air conditioning bills by making sure your home is well insulated and your windows are tight. Install a programmable thermostat that will turn your heat or AC down or off when you’re not at home. Use blinds to control the amount of heat that comes in the house by way of sunlight.

What aren’t you watching? Review your cable bill and decide if you really need all the channels you’ve been contracted for. If you save $50 a month by canceling your movie or other subscriptions, that adds up to $600 a year.

Elizabeth Leamy of ABC News tells readers, “In this tricky economy, try to adjust your attitude. Are you sure your costs are fixed? It’s time to get scrappy to save some much-needed money. The truth is, even most supposedly ‘fixed’ costs can be negotiated, refinanced or shopped around.” She offers some additional tips on how to cut down those fixed expenses:

Appeal your property tax assessment. Local jurisdictions might be using outdated market values to assess homes. It doesn’t take a long time, and it could turn into a significant savings. “I interviewed a New Jersey man who stood to save $5,000 a year if he won his appeal,” states Leamy.

Refinance your car. That’s right, you can refinance your vehicle, if it’s not too old and you’re not drowning in the value, and wind up with a lower monthly payment. 

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