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Reduce your bills for Essential Home Services

Tired of budgeting advice that simply tells you to stop buying luxury items? Instead of telling you how much you’ll save by skipping that Starbucks’ latte, how about some advice from Canadian Certified Financial Planners to help you save on the essential services you pay for each month?

Credit Cards: It goes without saying that you must pay off your balance each month. If you can do that consistently, then perhaps you should consider a card that not only offers a decent interest rate, but offers some freebies in return for your patronage. Avoid loyalty programs that are hard to redeem like Air Miles or a GM Visa. Instead, opt for one that offers benefits you can redeem easily and often, like free gas or groceries. The PC Financial Mastercard is a great example. You collect points for each dollar you spend and can redeem them instantly by swiping your card at any Loblaws.

Energy bills: Ontario’s deregulation of the energy market is still a bit of mystery to most consumers. Yet it’s surprisingly simple to shop for a great deal and sign up with a new natural gas or electricity provider. The website www.energyshop.com makes it easy to shop the market, reviewing the blended rates and 1- to 5-year fixed rate contracts from a range of Ontario energy providers. If you choose to buy from a private energy provider, your gas delivery won’t change; you will still get a bill from your distribution utility.

Phone/Cellular/Cable/Internet: Do you find yourself opening monthly bills from Bell (your phone bill) Fido (for your cell phone), Rogers (for cable TV) and AOL (for Internet access)?

You can simplify your life, and likely save a bundle, by aggregating these services with one provider. Both Rogers and Bell can offer you phone, cellular, TV and Internet service and typically offer discounts for each additional service you offer. Rogers’ “bundle” packages are simple to understand and offer significant savings.

Long distance calling: If you deal with large long distance bills, there are a few ways to save a high percentage of your costs in this area. One option is to use a phone card. The site www.ontariophonecards.ca helps you find the best rate based on your usage. Another exciting alternative is Voice Over Internet Protocol (VOIP), which allows you to make calls using your broadband internet connection rather than standard phone routes for as low as one cent per minute (Canada to U.S.). Skype and Vonage are popular VOIP providers, but you may find a better deal from the site www.gizmoproject.com.

Car & Home Insurance: Bundling your insurance services (both home and auto) usually results in around 5 to 10% savings.

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