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January 3, 2022

Best Ways to Save Money on Bills in 2022

If you are living paycheck to paycheck or struggling to contribute to your savings for other reasons, you might make saving money one of your New Year’s resolutions. Building a realistic budget, cutting some unnecessary expenses, and reducing your bills can help you put money aside for an emergency or important purchase. Here are just some of the best ways to save money on bills in 2022.

How to reduce your housing bill.

Lowering the amount you pay for housing is one of the harder bills to trim, but it’s also one of the best ways to save money on bills. However, if you can reduce your rent or mortgage, it could have a big impact on your finances. If you own a home, there are a few ways you can reduce your housing costs:

  1. Refinance! Refinancing can help you to lower your interest rate, which lowers your monthly mortgage payments. It also helps dedicate more of your payment towards your balance vs interest. If your credit score has gone up since you got approved for your mortgage and/or you are earning more money, you may be able to score a better rate by shopping around and comparing refinance offers.
  2. Cancel your private mortgage insurance. If you were required to take out private mortgage insurance because you put less than 20% down to buy your home, your lender should remove the PMI requirement once your mortgage balance drops below 78% of your home’s appraisal value. However, you can also ask your lender to cancel your PMI once you have reached the 20% equity mark.
  3. Sell your home. If you have gained equity in your home, you could sell your home and make enough to purchase another less expensive property, reducing your housing bill.
  4. Downsize to a smaller apartment. If you are renting, consider moving to an apartment with fewer rooms or square footage if possible. You may also save by moving further from the city.
  5. Find a roommate. In many cases, you can live in a larger apartment by splitting the cost with a roommate. You could also save by splitting other bills like groceries.
  6. Attempt to negotiate. If you have a good relationship with your landlord, you can attempt to negotiate a lower rate with them. One tip is to offer a longer lease term for a lower rate.

How to reduce your utility bills.

Utility bills can get out of hand if you don’t pay attention to them. Small adjustments to your utility bills are one of the best ways to save money on bills and can provide significant savings.

  1. Reduce your cable bill. There are many ways to reduce what you pay for cable. You can lower your bill by canceling extras like your DVR or premium channels. You can also save by bundling both internet and cable with the same company. Some people have reduced their cable bill by threatening to cancel. The average cable package costs $217.42 per month, so there is a lot of savings to be had by cutting cable. Many consumers have switched from cable to streaming services, but those costs can also get out of hand. Signing up for multiple streaming services adds up, and costs can go up at any time. Netflix once cost $7.99, but can cost consumers up to $15.99 today if they want UHD and the ability to watch up to 4 screens at a time. Standard HD and 2 screen usage costs $12.99. Before cutting the cord, make sure the alternative makes sense.
  2. Reduce your cell phone bill. You reduce your cell phone bill by signing up for automatic payments, changing or removing your insurance plan, or switching your plan or carrier.
  3. Reduce your energy and water bills. It’s tempting to crank the air conditioning in the summer and heater in the winter but doing so can cost you big. One of the best ways to save money on bills is to watch the thermostat. You can save up to 10% annually on heating costs by turning down the thermostat 7 to 10 degrees for eight hours per day. If you have a smart thermostat, you can program it to turn off during the hours you are away from home or when it’s naturally cooler or warmer outside. Turning your water heater temperature down can also lower your heating or gas bill. Make sure to power down any electric devices including televisions, desktop computers, and gaming consoles when you aren’t using them.


The best ways to save money on bills varies from person to person and your personal financial situation. However, there are some common ways to save money. Refinance your mortgage if your situation has changed and you can secure a lower interest rate. Downsize if it makes sense or get a roommate to reduce rent costs. Cut cable or expensive streaming services you don’t use regularly. Program your thermostat to turn off when you’re not home and try to keep the temperature lower for 8 hours a day to reduce your heating bill.

If you have an emergency expense and need funds fast, Uprova.com can help. We provide personal loans to consumers with a wide range of financial backgrounds. Get the funding you need when you need it. Learn more at Uprova.com.

The content of this website is for informational purposes only. Nothing on this website constitutes financial or professional advice. Consult a professional for advice suitable to your personal circumstances.

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