“My family and I ‘cut the cord’ and rid ourselves of cable TV,” says Dennis Restauro of Baltimore, Maryland, who blogs about technology at Grounded Reason. “It’s set up by default that way,” she says.Īnd all those Facebook notifications use cellular data that you could save money on if you turn off notifications while you’re roaming and wait till you’re back on WiFi.Īlso, re-evaluate the services you’re using to see if there’s anything you can get rid of. When Komando checked her son’s cellphone, she found the overages came from accessing YouTube on his cellular line instead of sticking to WiFi. If you get overage alerts from your cellphone carrier, take a close look at how the phone is being used. “You can buy the same modem outright for $100” and save that annual expense in the future. “For example, if you are paying for a cellphone, do you really need a landline as well? If you have a Netflix and Hulu account, do you think you can make do without cable?”Īre you paying monthly fees you could eliminate? Most people lease the modem that provides their cable-internet service, at a cost of up to $100 a year, says digital technology expert Kim Komando. To get started, check your current bills and plans for redundant services, Tayne suggests. “They should not be trusted to accurately represent a company’s position.” First, trim the fat “This applies to cable television, cellphone packages, car insurance and many other ongoing services and recurring payments,” he says.īlogs, books and websites that list prices and deals may provide some limited help, but remember they are “third-party sources,” Ritter says. CFP ® president and founder of Zacchaeus Financial Counseling, Inc., in Hobe Sound, Florida, a non-profit organization serving low-income households and households in financial crisis. Shopping around might take some time, but it’s the best way to research accurate prices and compare what you get for what you pay, says R. “If you’re not already tracking expenses, start now.” (We have resources to help you build a budget.) Tayne, founder of Tayne Law Group, P.C., in New York, and consumer and business expert concentrating in debt management, debt resolution and bankruptcy. Start by figuring out what you’re paying now, suggests Attorney Leslie H. Monthly bills may seem rigidly fixed and inflexible, but there are often ways to cut many of them down to size-or eliminate services that are unnecessary expenses now-to lighten your financial load every month. Reducing overall spending is one tactic, and in this time, it may be easier to give up extras and luxuries, clip coupons, shop sales and take advantage of rewards programs.īut it’s also a smart idea now to examine your recurring expenses. Recent studies show that many Americans are living paycheck-to-paycheck.Ĭutting back will be a necessity for many people to make ends meet. But it’s clear that it will change our lives in many ways, including our short-term and long-term personal financial situations.Īn economy lurching in the throes of a pandemic will cause hardship for a lot of people. Save money by finding cheaper alternatives to your current services, shopping around for deals and more.Īs COVID-19 spreads across the globe, there’s much uncertainty about what its full impact it will be.Although monthly bills may seem to be rigidly fixed and inflexible, there are ways to cut many of them down to size.
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