Every month, it’s the same tune. You are in the red or almost and you do not understand why. You don’t know what you can save on , some monthly expenses being, to your knowledge, incompressible. But is this really the case? Back to school is fast approaching, and this time, it’s decided: you’re going to sort through your various bills that fall each month! And as a result, you will probably be able to save several tens or even hundreds of euros, thus increasing your purchasing power accordingly . But ultimately, what are these recurring costs that eat into your budget?
In these regular expenses, here we are going to be interested in your subscriptions. They are divided into 2 categories: those for which you pay the bill every month, and those, more deceitful, that you pay once a year. Now let’s see on which subscriptions you can soon save several tens of euros .
It has now been a few years since a fourth telephone operator arrived on the market, Free Mobile. Since then, the price of telephone subscriptions has fallen sharply and uses have changed a lot . According to the operators, it is now possible for a monthly budget of €16 to €25 to have a subscription for your mobile phone including communications to unlimited landlines and mobiles, unlimited SMS and MMS, and almost unlimited internet! Take a look at the site of Free Mobile, Sosh from Orange, B&You from Bouygues Telecom or Red from SFR to find rates like those specified.
If you don’t need mobile internet, these same operators, and others for that matter, can offer you packages with 2 hours of communication starting at €2 per month, or even free for Free if you have your internet subscription with them! Enough to make colossal savings !
At the time, my wife and I had gone from a €50 plan and another €45 to 2 plans at €16 and €20 respectively, i.e. almost €60 in savings per month. ie 720€ over the year! Even if the difference is less today, it is easily several tens of euros in savings that you can achieve if you have not yet switched to this type of subscription.
How much do you pay each month for your internet subscription? More or less 35€? Given the services provided (unlimited internet, unlimited telephone and TV) and comparing with those in other countries, French prices are far from excessive , be aware. However, it is possible to save a few euros on these monthly expenses dedicated to the Internet. At a minimum, there are 3 options to reduce this item of expenditure:
Again, thinking carefully about the internet offer you need can save you a lot of money on your monthly expenses, don’t forget that.
We now move on to a case that I experienced a few months ago and which allowed me to greatly reduce my monthly expenses (300€ gain per year for me!): car insurance. A few minutes spent on an insurance comparison site can save you several hundred euros a year, so take the time to do so. In addition, it is often the insurers who then call you back. Do not hesitate to ask them all the questions that come to mind: deductible, 0 km insurance, etc. Just to compare what is comparable! 🙂
Also remember to check if your vehicle is not “over insured” . For example, it may not be necessary to fully insure your 10-year-old car. Third-party insurance will probably be more than enough, think about it!
You can also pool your insurance contracts: if you have several vehicles insured by the same organization , you can, if you haven’t already done so, ask the latter to make a small gesture in your favour.
Last thing: annualize your payment . The majority of insurers will charge you an additional few euros per month if you decide to pay monthly. If you want to simulate this monthly payment to smooth out your expenses, place the amount in a passbook A-type savings medium in the meantime: these euros will make a few small amounts during the year and you will no longer pay any additional monthly cost.
Last point: you were previously obliged to wait for the anniversary date of your insurance to be able to cancel it . With the recent Hamon law, you can now do it whenever you want once the first year has passed.
We all tend to take insurance and keep it to the end. Home insurance is probably one of the most common examples to illustrate this point. But here again, there are monthly, or annual earnings depending on your payment terms, to unearth!
The same remarks as for auto insurance apply here. Head to the internet and a comparison site to find the contract that suits you at the best price. In particular, check from time to time that your home insurance corresponds to your needs. Also think of the recent Hamon law to easily change insurers after one year of seniority.
Last thing: insuring your property with the same insurer as your vehicle is also likely to lower your premium, and therefore your monthly expenses. Do not deprive yourself of it!
If changing insurance is not done every day, changing energy suppliers is done even more rarely! Having realized it some time ago, I think you would be wrong to deprive yourself of it. I have saved around twenty euros on my monthly expenses since then, for a service that is identical in all respects !
The procedures couldn’t be simpler, it’s the new energy supplier who takes care of everything . No service interruption, equivalent quality and lower cost: what more could you ask for? And a return to regulated tariffs is even possible for those who are not yet convinced. Notice to skeptics, give it a try!
Another monthly expense is likely to follow you for a few years: the possible mortgage you have taken out to buy your main residence or to make a rental investment. Current rates are historically low, so renegotiate your home loan or have it bought out by the competition . This can allow you to significantly lower your monthly expenses if you do not want to reduce the duration of your credit. And even more, it will save you thousands of dollars overall!
Having done this several times for the loan of our house, it is several tens of thousands of euros that my wife and I will save on our initial mortgage. I talk about it in the article where I explain how I earned €20,000 on the credit for my main residence, then in a second article where I saved another €10,000 by renegotiating.
Another way to save money: switch to online banking. All day-to-day operations are free : transfers, no account maintenance fees, no account closing fees, internet access, etc. And free lifetime bank cards for many online banks!
For my part, I went there more or less 1 year ago and I am extremely satisfied. The advantages of an online bank are numerous (I can sponsor you 🙂) and by following a few tips the transition will be smooth.
If you prefer to keep your neighborhood bank, you can still see your adviser so that he agrees to a reduction on the services he offers you. Moreover, he will be all the more attentive if you have an account in another bank, such as an online bank for example… Thank you competition!
You may have health insurance. Again, look at the competition to see if you can find a better contract. Better, if you have company mutual insurance as an employee benefit, see if you can also insure your spouse and children there: it will probably be cheaper than outside with equivalent benefits, even totally free for the lucky ones. Find out quickly on the subject!
These are some of the ideas that you could follow, in whole or in part, to drastically reduce your monthly expenses. The list is probably not exhaustive, but it is a good start to optimize and clean up your finances . Especially since all the savings you make will land 100% in your pocket!
Do you know of other ways to save money to reduce monthly expenses? Have you already put some of them into practice?