Think of your monthly bills like a grocery list that’s gotten way too long over the years. You’ve been adding things without really checking what’s already in your cart. Every dollar counts, and finding extra money in your existing bills is often easier than cutting out things you actually enjoy.

You’re already on the right track by looking at your bills with fresh eyes. Most people discover they can save $50 to $200 monthly without giving up services they value. That’s $600 to $2,400 back in your pocket each year.

Start with Your Phone and Internet Bills

These are goldmines for savings because providers constantly change plans and promotions. Call your current provider and ask what promotions they’re offering new customers. Then ask if they can apply any of those deals to your account.

When you call, use phrases like “I’m reviewing my monthly expenses” rather than threatening to cancel right away. Many providers have retention departments with special discounts they can offer, but they won’t mention them unless you ask.

For internet service, check if you’re paying for speeds you don’t actually need. Most households do fine with 100-200 Mbps, but many pay for 500+ Mbps plans they’ll never use. Downgrading could save $20-40 monthly.

Consider switching to providers like Mint Mobile or Visible for phone service. These often cost $25-40 monthly compared to $70-100 for major carrier plans with similar coverage.

Review Your Streaming and Subscription Services

This is where many people find their biggest surprises. Pull up your bank statements and look for recurring charges you might have forgotten about.

Common subscriptions that pile up include multiple streaming services, premium versions of apps you rarely use, and trials that converted to paid subscriptions. Cancel anything you haven’t used in the past month.

For streaming services you want to keep, consider rotating them. Subscribe to Netflix for a few months, cancel it, then switch to HBO Max or Hulu. You’ll save money and avoid decision fatigue about what to watch.

Honey and Rakuten can help you find promo codes and cashback opportunities for services you’re keeping.

Negotiate Your Insurance Rates

Auto and home insurance companies rarely volunteer that you might qualify for new discounts, but they often exist. Call your insurance company annually and ask about:

• Multi-policy discounts if you bundle auto and home insurance
• Safe driver discounts if you have a clean record
• Low-mileage discounts if you work from home
• Alumni or professional association discounts

Shopping around pays off here. Get quotes from Progressive, Geico, and State Farm every couple of years. Even if you don’t switch, you can use competing quotes to negotiate with your current provider.

For health insurance, if you have a high-deductible plan, make sure you’re contributing to a Health Savings Account (HSA) to reduce your taxable income.

Tackle Utility Bills Strategically

Energy bills offer several opportunities for savings that don’t require major lifestyle changes. Many utility companies offer budget billing, which spreads your annual costs evenly across 12 months, making budgeting easier.

Check if your utility offers time-of-use rates. If you can shift energy-heavy activities like laundry or dishwashing to off-peak hours, you might save 20-30% on those portions of your bill.

Simple changes like adjusting your thermostat by 2-3 degrees, switching to LED bulbs, and unplugging electronics when not in use can reduce bills by $15-30 monthly.

Some utilities offer free energy audits that identify specific ways to reduce consumption in your home.

Look for Sneaky Bank and Credit Card Fees

Banks love monthly maintenance fees, but most offer ways to waive them. Common fee waivers include maintaining minimum balances, setting up direct deposits, or using debit cards a certain number of times monthly.

Review your credit card statements for annual fees on cards you don’t use often. If you find value in a card’s rewards or benefits, call and ask if they’ll waive the annual fee to keep you as a customer. Many will, especially if you mention you’re considering canceling.

Consider switching to credit unions or online banks like Ally, Marcus by Goldman Sachs, or Capital One 360 that typically offer higher interest rates and lower fees.

Use Apps and Tools to Automate Savings

Rocket Money identifies subscriptions and can cancel them for you.

Trim negotiates bills like cable and internet on your behalf, taking a percentage of what they save you.

Billshark focuses specifically on negotiating recurring bills and claims to save customers an average of $300 annually.

Set calendar reminders to review your bills every six months. What seems like a good deal today might not be competitive a year from now.

Create a Bill Review System

Every dollar counts, so make this process sustainable. Choose one bill category to review each month rather than trying to tackle everything at once. January could be phone and internet, February could be insurance, and so on.

Keep a simple spreadsheet or note on your phone tracking what you pay for each service and when you last reviewed it. This prevents you from missing opportunities and helps you remember what deals you negotiated.

When you find savings, immediately transfer that money to a savings account or apply it to debt payments. Otherwise, lifestyle inflation will quickly absorb those extra dollars without you noticing.

Remember, companies count on customers accepting rate increases and forgetting about services they don’t use. By staying proactive about reviewing your bills, you’re taking control of your money instead of letting it slip away on autopilot.