Don’t pay for banking privileges. There are too many free checking options out there to pay one penny in fees for the right to write a check or use a debit card. Many banks and credit unions simply require direct deposit or a minimum number of debit card uses per month to qualify for fee-free accounts.

 

Scale back the cable. Need to get out of debt a little faster? Scaling back to basic cable for an entire year can save you $30 to $50 per month. 

 

Look for a value internet package. If you work from home, this might not be an option for you. However, most people have expensive internet speeds when they are only using it for their mobile devices. Cutting back can add some monthly savings, while the difference in internet speed may not be as noticeable as you think. 

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Transfer existing debt using balance transfer offers. Transfer high-interest debt to a zero (or low) interest card. By reducing your interest rate you will pay less interest to creditors each month, and make more of a dent in outstanding balances as you pay them off. Be sure to cut up the old card(s) so you can’t run the debt back up again.

 

Hang up the landline telephone service. If most of your calls are made using your cellular phone, consider canceling the landline in your home and using the cell phone exclusively.

 

Properly insulate your home. Especially important in the summer and winter months, when the extreme temperatures outside can affect your temperature inside and cause utility bills to skyrocket.

 

Start your own “keep the change” program. Several banks are now running “keep the change” promotions where they round up your purchases and put the difference in a savings account. Problem is, these accounts don’t pay a great interest rate, and the program encourages increased spending. Create your own program by spending only cash and dumping the change in a coin jar. Make deposits into your own high-yielding savings account at the end of the month.