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I am always looking for the best deal or the next great sale but one of the ways I actually save money, besides saving first, is by finding ways to reduce my monthly expenses.  

Once I reduce my expenses I add the amount I save to my savings or investment account.

Shop Around For Auto & Home Insurance

One of the ways I cut expenses is by always evaluating my auto & home insurance costs.  Now I don’t want you to change insurance companies every 6 or 12 months but you should take an active role in reviewing your rate increases and contacting your insurance company to understand why.  Once the price becomes uncomfortable for you, it’s time to evaluate.

If I notice my insurance premium is consistently increasing by a noticeable amount and I know my credit is the same and I have not had any accidents or changed cars then it triggers me to shop around for quotes.

For example, last year I had a feeling that we could save approximately $100 a month ($1,200 a year) on auto and rental insurance.  

So I ran a few quotes, using the same coverages and found a reputable company offering the amount I wanted to pay for both and I was able to add a policy for jewelry.

I also ended up changing the homeowner's insurance for my rental property to the same company 6 months later.

While you are running insurance quotes, you should do some research and see if you are able to get a discount on your insurance if you take a defensive driving course.

Depending on the state you can save 10% on your collision and liability premium over 3 years.

Cable/Internet

If you still have not cut the cord and you don’t have a promotional rate, you can look into cable deals.  

Disclaimer:  I’m funny about internet service if I have good internet service I will just try to negotiate the rate. It would take terrible customer service for me to leave because you need good internet service whether or not you cut the cord.  

First, check what deals are the competitors offering because you have to be prepared to cancel.  You choose how you spend your money.

Then you should check what your current company is offering before you call in. You need to be able to judge if they are giving you a good deal.  

Now you should call your cable company and let them know that your bill is too high and ask them what deals do they have available.  Normally they are willing to work with you if you are nice and patient.

Subscriptions

Review your last 2 bank statements and write down the recurring subscriptions you are paying for and determine if you are actually using it.  

If you are not using it then you should cancel it.  A $10 a month unused membership is $120 a year that you could put toward one of your financial goals.

Transfer your credit card balance or negotiate your credit card rate

When was the last time you looked at how much credit card interest you are paying each month.  

If you are trying to pay off your credit card debt and your credit is in good standing  you should try contact them and see if you are able to lower your interest rate.

You can also transfer your balance to a card with a 0% interest rate so you can pay off or pay down the balance as much as possible without paying interest.

Keep in mind (and you can ask before) that they may check your credit and it may take multiple phone calls to achieve your goal.

Lower Your Cell Phone Bill

When is the last time you took a look at your cell phone bill, not the total but the detailed bill.

Are you using all of the features you are paying for?  Are you really using unlimited data?

If not, you can reach out to your cell phone company to see if you can lower your bill by changing your plan.  

You should also see if your carrier offers a discount with your employer and if you are making payments on your device create a plan to pay off your phone early.

You can also look at the discount cell phone carriers to see if they have a better offer that will allow you to keep more money in your pocket.

BONUS:  Set up transfers to a high-interest online savings account

Now this one doesn’t have anything to do with cutting expenses but you need somewhere to hold all of your savings and to earn more on your emergency savings.

So if you haven’t already opened up an online savings account already, they typically earn more interest than the normal savings accounts at brick and mortar banks.

Set up automatic monthly transfers of you're the amount you save from completing the actives above into your online savings accounts on a monthly basis.

I have used all of the tactics above to cut my expenses and to use the savings to get me closer to my financial goals.  I hope you will be able to save money using one or all of these options to save money on your expenses.

In the comments below, let me know what steps you have taken to save money on your expenses.