5 ways to manage your bills and repayments
Managing bills doesn't have to be a huge hassle. We've put together some tools and tips to help you organise your payments and save some cash in the process.
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Managing your bills, repayments and subscription services can be a real hassle. In fact, a lot of people just put it to one side and hope for the best!
But it's important to take control and get your money working for you. Ignoring the services you use can end up costing you more cash in the long run. After all, if you don't have a clear picture of what your outgoings actually are, you don't know where you could be cutting back or making savings.
So, let's take a closer look at some of the ways you can manage your money more effectively – and hopefully save yourself some bucks in the process.
1. Get rewarded for your everyday spending
One of the easiest ways to make your money work for you is by looking at the rewards programs available for your everyday expenses. Whether it's supermarket-based programs, frequent flyer programs or similar schemes, there are a ton of ways you can turn your spending into rewards.
For example, the Crypto.com prepaid Visa debit card offers cryptocurrency-based rewards – up to 5% back in CRO rewards (earned in the Cronos token directly to your Crypto.com wallet) for everyday expenses, like grocery bills or dining out. So make sure that next time you're renewing your card, you take a closer look at what sort of rewards are open to you.
2. Make payments early to keep fees and interest down
One of the best things you can do to keep bills, loan repayments and other expenses under control is by paying them on – or before – the due date. Late or overdue fees can rapidly add up, causing you needless expense and chipping away at your finances.
Automating payments can be a great option for addressing this, ensuring that you can easily beat the deadlines. However, if you prefer to be more hands-on, we'd suggest carving out some time in your calendar once or twice a month to deal with the paperwork. This process can also give you a clearer picture of where your cash is going.
3. Switch utility providers
Are you finding that your utility bills are just plain… too high? Whether it's internet, electricity, mobile phone or anything else, it might be time to make a switch.
Too often, we let our utility providers just sit in "set and forget" mode – which is how they can start to gradually creep up over time, leaving us with outsize bills in the process.
So if you're consistently paying too much, and getting too little service in return, why not dig through some of the other options available? And that leads into our next tip…
4. Look for service bundles
When you make the switch to a new provider, you shouldn't just be looking at pure dollars. You should also be looking at the other bonuses they can offer you, too. It can be a great way to cut down on costs like streaming subscriptions, or make savings in other areas.
For example, internet providers may offer a premium subscription to YouTube for free, your energy provider may offer you Netflix membership, or your mobile phone provider may waive data usage on certain services.
This can extend to financial providers, too – for example, the Visa debit card from Crypto.com can offer reimbursements for subscription payments for Spotify, Netflix and Amazon Prime, depending on your staking tier. In isolation, they may not seem life-changing. But when you combine a few bonuses like this, you can end up making significant savings on a monthly basis.
5. Track your spending
One of the best ways to get an insight into how your finances are going is to utilise an app for tracking your spending (in fact, we have one you can use right here at Finder!). This can be a great way to get an in-depth look at exactly how you're using your money.
Seeing it all recorded can give you very direct and real-time insights into what you're spending – and can be a catalyst to look at ways that your could potentially cut back. You may even discover you're paying for a range of services you'd forgotten you had – a classic sign that it's time to give it the flick!
