Consumers looking to reduce household expenses can find savings by reviewing their monthly bills and seeing which ones can be bundled together. In times past phone, cable, and cellular bills were billed separately, but these days companies are bundling various plans together and passing these savings back to their customers.

It isn’t just utility bills which can be bundled as insurance companies also offer similar savings when you do business with them. Let’s explore how you can save money, perhaps as much as $100 (or more) each month by bundling your expenses together.

Major Media — If you have a cell phone, land line, cable connection and internet, some companies offer all four services to you at one low price. In my area, Time Warner Cable offers such a plan (minus the cell phone) and charges an initial rate of $29.95 per month for each service for twelve months. After that, the offer expires, but we’re saving about $100 each month by bundling digital phone, cable, and internet connection together. Yes, our plan includes long distance including to Canada, giving us one flat bill every month. AT&T and Verizon are two providers which will allow you to bundle all four services together.

Insurance — If you have car insurance and homeowners insurance, having one insurance company provide this service to you will generally result in savings of 5-15% off of your premium. However, make sure that the coverage you have is adequate when allowing one insurer to cover you and compare plans to see if insuring elsewhere, but through separate companies offers the best savings.

Heating, Cooling and Electricity — In some parts of the country, consumers have choice when it comes to home energy providers. On company provides gas for heating and cooling while another one may provide electricity. If one company can adequately provide both services and offer to you a discount on their plan, why not consider giving them your business?

Food Shopping — Who hasn’t been shocked this year when they discovered just how fast food prices were rising? Like gasoline, food prices are shooting up thanks to the cost of transporting goods which are usually delivered by trucks. Guess what? Truckers are getting slammed by diesel fuel costs and need to recoup their costs too. Now is the time to consider consolidating your shopping to one store such as a warehouse club that carries food, household items, clothing, even discounts on fuel and tires. You’ll have to pay a membership fee to join, but you’ll get that money back within the first two times you shop.

Lowering your bills can be done by bundling accounts, a move that can bring about quick savings without instituting additional cutbacks. Take the money you save by bundling costs and put it into savings or use these funds to balance your budget and tackle whatever outstanding debt that you may have.

Tags: bundle costs, cable, car insurance, cell phone, cooling, electricity, food, gas, groceries, heating, homeowner's insurance, phone bill, satellite tv, warehouse clubs

Four dollars per gallon gasoline is making a mess of many home budgets as is higher food costs, mortgage payments, and other consumer goods. The average American is feeling the sting of diminished earnings, putting a real crimp on savings.

One of the last things you want to do when life is tough is to cut back on savings. That extra money can pay for future emergencies, help fund your retirement, and cover vacation, home improvement, and other anticipated expenses.

But, saving money when your disposable income has shrunk seems virtually impossible to do. Or is it? Can there be a way to set aside money even when the cost of living continues to rise? Let’s take a look at some common sense ways you can lower your bills and still have more money left over to save.

Food — Milk, bread, bananas, you name it has been going up in price, much fast than the inflation rate. Transporting food from warehouse to store has gotten costlier and those costs are being passed on to you. Wherever possible, clip coupons to save on your favorite foods while switching to generic or less known brands when you can. Shop the warehouse clubs and you could save 10-30% off of your food order.

Insurance — If you combine your homeowners insurance with your auto insurance, then you should receive a ten percent discount on your bill. Shop around too and take a good look at your 2001 model year car with high miles — it could be time to drop collision coverage.

Debt — Pull out your credit card statements and examine which ones have jacked up their interest rate recently. If you are carrying balances on high interest rate credit cards, then transfer those balances over to a lower rate card. Many card providers are still offering 0% interest on balance transfers with some waiving transfer fees too.

Cable and Phone — If you haven’t combined your phone and cable service yet, consider doing so at once. Get an internet connection, cable service, and local and long distance coverage for a flat monthly rate. You should be able to save 10-50% by combining your bills to one service provider.

Electric and Gas — If you have central heating and air, keep the indoor temperature at 78 degrees in the summer and 68 degrees in the winter. Supplement cooling and heating with ceiling fans, reversing oscillation for the proper season.

Dental and Health Care — If you are covered through your employer, then medical costs are a known quantity. Still, you can reduce your expenses by using “in network” doctors and labs, get your prescriptions filled at WalMart or a similar store offering cut rate medication services. If you need insurance on your own, shop through a cooperative to get the lowest rates.

Miscellaneous Expenses — Perhaps the greatest savings can come through the elimination or curtailing of various vices. Quit smoking, stop drinking, avoid gambling (including the lottery!), and take a hard look at your entertainment expenses. Take in a matinee instead of a night movie; eat out less each month.

Finally, with all of the money you save you can start setting aside some cash for savings. Maximize your employer’s 401(k) plan and set up automated savings through an online bank such as ING Direct to withdraw money on a regular basis from your checking account to a savings account.

The national economy will eventually improve, but you don’t have to let your personal economy take a hit while you wait for that to happen.

Tags: budget, cable, checking account, credit card, electric, food, gas, Money Management, personal finance, save money, savings, telephone, utilities