5 Ways to Lower your Monthly Expenses

Periodically reviewing your recurring bills can save you thousands over time.

Here are five tips to lower your monthly bills.

Negotiate. Contact your cable, Internet, and phone providers and ask for a better rate. You may be surprised at how willing they are to lower your monthly bill is you threaten to switch to a competitor. They may also have unpublicized specials you can take advantage of but may not have known about.

Energy efficiency. Replacing your old appliances and light bulbs with Energy Star-certified ones can significantly reduce your energy bills. Search "energy efficient appliances" to find dozens of websites dedicated to helping you save on your energy bill.

Water usage. Install low-flow shower heads and toilets, fix leaks, and only run the dishwasher and washing machine with full loads to reduce your water bill.

Insurance shopping. Make sure you are getting the best deal on your car, home, and life insurance. Get quotes from several different insurance companies and see if you can find a better rate. Often times a yearly call to your insurance providers will ensure you are getting the best rates possible.

Subscriptions. Take a look at your monthly bills and see if there are any services or channels that you can do without. Consider cancelling premium channels, subscription services, and magazine subscriptions that you no longer use. You may be shocked when you see how many streaming services you may have signed up for but don't use. Keeping the ones you love and cutting the ones you don't will save you hundreds of dollars a year.