<p>According to a report by the <a href="https://www.pgpf.org/blog/2021/05/10-key-facts-about-student-debt-in-the-united-states#:~:text=Student%20debt%20has%20more%20than,in%202008%20(%24600%20billion).">Peter G. Peterson Foundation</a>, the total student loan debt in the United States has more than doubled from 2008 to over $1.6 trillion. The unemployment rate since the beginning of the COVID-19 global pandemic has lowered but still remains around 5.4% nationally.</p>
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<p>With the drastically high number of individuals without jobs and who have accumulated significant debt over the years, more people are looking for ways to cut costs and save money on their monthly bills.</p>
<p>We’ve found a few creative ways we want to share with you that could help. Take a look at these tips to help you save money on your monthly bills.</p>
<h2>Look Through Your Subscriptions</h2>
<p>There are dozens of subscriptions you might have that you don’t even realize. In-app purchases can accumulate without your knowledge. Even if you have three of four apps that are $1.99 a month, if you don’t use them, it’s money being thrown out the window. This also includes your monthly subscriptions to streaming services or monthly product deliveries.</p>
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<p>Look through your bank statements over the last two months. Take a look at recurring payments that are being made to find out where you might be spending unnecessary money.</p>
<p>You can also find your in-app payments on your mobile device in the settings under the “subscription” category to see what you’re currently signed up for.</p>
<h2>Set Yourself a “Fun” Budget</h2>
<p>You don’t have to limit yourself to having absolutely no fun at all. However, it could be worth setting yourself a budget for your extracurricular activities.</p>
<p>Everyone should have a budget established to make sure they are managing their finances, especially if they’re looking for ways to save money. In your budget, set up a weekly allowance for yourself based upon what you can realistically afford.</p>
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<p>There are tons of ways to still have fun without spending a ton of money. If you go out to eat multiple times a week, limit yourself to only one or two meals. Maybe you’re a movie buff and like to go out to the movies every weekend. Try only going once a month and have a movie night at home instead.</p>
<h2>Look at Your Utilities</h2>
<p>Utilities are one area that can sometimes be more costly, but can very easily be managed. Maybe your electric bill has been more expensive than it has in the past.</p>
<p>Take a look at your daily usage around the house. Are there ways you can help conserve more water? Are you keeping electrical appliances plugged in when they don’t need to be? See what lifestyle changes you can make to help decrease your monthly utility bills.</p>
<p>If you live in a city that experiences cold winter months, consider switching to an <a href="https://www.efireplacestore.com/electric-fireplaces.html">electric fireplace</a>. They are significantly more energy-efficient and are also one of the cleanest options in terms of excess air pollutants. Not to mention, only about 1% of the heat from your electric fireplace is lost.</p>
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<h2>Consolidate Your Debt</h2>
<p>Whether it’s your student loans or credit card payments, there are ways to <a href="https://www.thesimpledollar.com/save-money/trimming-the-fat-forty-ways-to-reduce-your-monthly-required-spending/">consolidate your debt</a> to lower your monthly bills. Say you have multiple credit cards open with extremely high interest rates. Many credit card companies offer 0% interest when you do a balance transfer along with other perks as well. This can help you keep your debt all in one place while saving money on accumulating interest.</p>
<p>You can consolidate your student loan debt as well. Talk to your current lender and see what offers they may have or consider looking into another company as well. You’ll have to do your homework, but it could very well help you save money in the long run.</p>
<p>No matter your situation, there are always ways you can save money. You will need to get creative and have a little more self-discipline. In the end, it will be well worth it.</p>

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