Little Known Ways to Reduce Monthly Expenses

This is a guest post from Scott Hersh

Do you understand all of the laundry list of expenses that appear on your billing statements? If you are like most people, the answer is probably “no.” By taking a good look at your monthly expenses, you will probably be able to save a lot of money on a monthly basis. The even better news is that just by setting aside a few hours, one time, you will reap the benefits on a residual basis. In other words, put in a few hours of work now, and save indefinitely.

Many people lose a lot more money from recurring expenses than they would like to imagine. As a result of mistaken charges, fake charges, or unnecessary charges, your money may gratuitously be being leeched out of your pocket. You don’t need to let that happen. Let’s take a look at some methods of preventing these unsightly wastes of money.

Upon inspection, you might quickly realize that there are certain bills that you are still paying for without really needing to. I personally had this happen to me when I realized that in the summers I would rarely go to the gym to work out, because I prefer taking advantage of the nice weather, and working out outside instead.

After some simple calculations, I realized that by paying for monthly memberships, at the gym, for the months that I actually go, and not paying for the months that I workout outside, as opposed to paying for an annual membership, I could end up saving money. Therefore, when my annual gym membership ended in April of last year I did not renew it. The folks at the gym called me up to ask why I had not renewed my membership. I told them about my calculations, and they offered me the same annual membership for half the price of what I was paying before. That is only one of many examples of why it pays to filter out unnecessary expenses.

When checking over your bills for ways to save money you may come across various service charges and taxes that you don’t understand. You have probably noticed those pesky little charges and wondered what exactly they are for. Often times the only purpose of certain service charges and taxes are to increase the billing company’s revenue, and at your expense. In order to deal with these charges I recommend calling up the company and asking them to explain every detail of your bill. After they have satisfactorily helped you to understand your bill, ask them for a discounted rate. Even if all of the charges on the bill are valid and necessary, it doesn’t hurt to ask them what they can do for you to keep you a happy customer. When you do humbly request a discount, it won’t hurt to mention that you are considering using the services of one of their competitors.

It is all too easy to let service providers send over a bill without checking over the details. The truth is that, when you pay the money, that money is gone whether you pay in cash, credit, or by being charged automatically. Taking a few hours to consider how to reduce expenses can save you a lot of money in the end. In the timeless words of Benjamin Franklin, “A penny saved, is a penny earned.”

About the Author: Scott Hersh is a business blogger for the official blog of, leaders in merchant financing.

Like to Add a Guest Post?
This post was written by a guest writer mentioned above. If you’d like to add a guest post in Money Hacker, please check out Welcome all Guest Writers page for details about how YOU can share your knowledge with our community.