Live Debt Free

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The Top 5 Apps That Will Negotiate Lower Bills For You

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We all want lower bills. Luckily, there is an app for that. Unfortunately, many people do not have time to figure out how to reduce their monthly bills. However, there are mobile apps out there that can help you negotiate and slash your bills each month.

Discover these popular services that can help you avoid overdraft fees and save you a lot of money on cable, subscriptions, memberships, and insurance.

Cutting expenses can take a lot of time, even with a budget. Whether you are financially secure or living paycheck to paycheck, it is wise to save money by avoiding overpayment.

The good news is that these typically free apps negotiate better rates with creditors and providers, cancel unused subscriptions, automate savings that can score discounted services, and leave more money in the bank.

1. Truebill

One of the top ways to automatically reduce your bills is to try out Truebill. This service lowers bills by canceling unwanted subscriptions and managing your spending. Truebill’s website says this service has saved consumers $100 million.

Here is how it works. When using Truebill, the platform syncs with your bank accounts and credit card to observe your monthly bills. You can also select bills that are no longer in use or subscriptions you do not want anymore. With all your bills in one place, this makes it easy for the system to monitor when your automatic payments come due.

Even better, if you live in an area with regulated energy and experience an internet or cable outage, Truebill can ask the company to apply a credit to your account. The platform will determine the lowest rates available if you live in a deregulated area.  

The platform offers users a big bonus because it allows them to upload their recurrent bills. Then, Truebill will negotiate directly with service providers and creditors to take the hassle off your hands and get you the best deal.

  • That is not all. Truebill gives you various tools to assist with budgeting, such as generating expense reports to track where your money is going and automating savings according to your financial goals.
  • Truebill has a free app for Apple and Android and a Premium service feature. Premium memberships cost around $3 to $12 per month, totaling up to $36 to $48 annually.

You commit to giving Truebill 40% of the savings they get for you. The platform will also provide additional tools, such as subscription canceling, bill negotiation, budgeting features, Smart Savings Plan, and concierge services to streamline your financial life.

2. Trim

Like Truebill, Trim manages your bills to help you save the most money.

For example, Trim cuts the fat from your monthly expenses by checking regular charges for any unwanted services you would prefer to cancel. It can also monitor your credit card and bank account transactions to see where you’re losing money.

Trim dazzles users with its ability to negotiate your phone, internet, and cable bills with your providers, saving you up to a staggering 30% on bills you would pay anyway. Remember that Trim will deduct 33% from whatever amount they save. So if you snag $100 in savings per year on your phone bill, the platform will take $33, while you get to keep $67.

With Trim Simple Savings, Trim helps you meet your savings goals by stashing cash away every week to meet your financial goals.

Not only is Trim’s service free of charge, unless you select the Premium option for $99 per year, but Trim lets you earn a 4% annual reward for the first $2,000 you save with them. You will earn around .001% interest on any additional savings.

After that, you gain .001% interest on anything saved over and above that amount.

3. Billfixers

This free app saves you money by cutting down on multiple expenses, including phone, internet, cable, satellite radio, satellite TV, home security, and small business service bills.

If Billfixers saves you money, they will deduct 50% of the annual savings total that they net you by charging your bank, credit card, or PayPal account for a portion each month.

Since Billfixers is free, it does not come with automated savings or subscription cancellation features. However, the good news is that you won’t have to worry about negotiating your recurrent bills anymore.  

4. Billshark

This popular money management platform helps keep more dollars in your pocket by getting you a better deal on your cell, cable, satellite TV, or home security system bills. According to their website, Billshark has a 90% success rate in getting creditors and service providers to drop their prices.

Kevin O’Leary from Shark Tank also recommends, like BillShark, negotiating all your regular bills.

Similar to Truebill, you can upload your bills to the app. That way, Billshark will run your potential savings through their system and then contact your provider to get your bill reduced. They also cancel unwanted subscriptions for a $9 fee.

While the app is free to sign up or create an online account, Billshark takes 40% of any savings from negotiating your bills.

5. Harvest

Harvest helps bring your savings home by protecting you from hefty overdrafts or bank fees. That is because Harvest monitors your overall financial picture and asks for refunds on fees for you. If they save you money, the app keeps 25% and leaves the other 75% in your account.

The platform also helps you review and monitor your regular spending. If there are any unnecessary payments that you want to cancel, Harvest will notify you.

https://www.cnet.com/home/energy-and-utilities/7-simple-ways-to-lower-your-utility-bills-this-summer/

Overall, this tool helps you get refunds and gives you saving and spending tools that can help your hard work of budgeting and saving pay off.

Final Thoughts

These apps make it simple and easy to reduce regular monthly bills. Also, some of the apps offer paid services that give you more options for negotiating.

While you might save even more money negotiating directly with your service providers or credit card companies, these outside tools can automate the job for you.

If you cannot negotiate these money-saving measures on your own or prefer to avoid bill negotiation situations, these apps are a solution to the problem that can help you save hundreds or thousands of dollars on your bills every year.

Image credit: [Grki]

10 Psychological Benefits of Being Debt-Free

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Debt can control your life. It impacts what you buy, where you can live, your sleep, mental health, and personal relationships.

However, paying off debt has many psychological advantages, including boosting confidence, lower stress levels, better future planning, improved confidence, and emotional resilience to avoid slipping back into debt.

According to a Planning Progress Study by Northwestern Mutual in 2018, a whopping 69% of workers in America felt stressed by financial burdens. So, whether you are almost out of debt or just starting, reducing debt is a realistic goal that can help restore mind and body balance while empowering you financially.

Find out how getting out of debt can affect your mental health by reading about these ten emotional benefits of being debt-free.

1. Lower Stress Levels

It is no surprise that having debt causes high anxiety levels. Debt is considered one of the most stressful life events.

According to the Society of Occupational Medicine’s Life Events Inventory in 2009, which ranked emotional stress across 100 kinds of life events, getting buried in insurmountable debt can make people’s stress levels skyrocket. Men ranked severe debt at 82/100, while women scored 86/100.

That is not good news since 80% of Americans are in debt. That is eight out of every ten people.

According to a 2021 CNBC report, the average American owes a whopping $90,460 in debt.

In addition, the Student Loan Planner survey discovered that 90% of people who took out student loans reported intense anxiety due to the debt. Many reported anxiety levels so high that they had trouble sleeping.

This highlights a complex problem that intersects with economic issues, student loans, soaring inflation, the rising cost of living, and personal spending habits. Collectively, Americans owe a staggering $14 trillion in debt.

Stress, caused by owing money that you cannot repay, can undermine your health. Stress that lasts for a long time is linked to several health problems, such as diabetes, heart disease, stomach problems, autoimmune diseases, and allergies.

Paying off debt can lift a massive weight off your shoulders. It can also relieve a common cause of stress and anxiety. 

2. Psychological Relief

Getting out of debt can have more than a positive effect on your body. It can give you emotional and psychological relief as well. Unfortunately, many people are carrying more than just a mountain of debt.

  • In addition to debt, there are the normal traumas of everyday life like divorce or medical emergencies.
  • Debt wrapped in negative experiences can make cortisol levels spike in your body.
  • This stress hormone can make you feel more anxious, fearful, and uncertain about the future.

Once you purge that old debt, with all its negative associations, from your life, you will likely feel a surge of emotional relief. While money does not necessarily make you happier, cutting out debt and having enough money for a reasonable standard of living can give you a fresh outlook on life.

3. Freedom

You might feel like you are not moving forward when you are deep in debt. If your finances are a mess, it might seem impossible to go abroad, get married, buy a house, start your own business, get a higher degree, or have a baby.

https://www.theartofsimple.net/the-emotional-benefits-to-becoming-debt-free/

Broken finances can complicate relationships and make achieving your other life goals challenging.

Financially stable people might not want to marry someone who has ruined credit, no savings, or tens of thousands of dollars in debt. Launching a business usually takes capital. It costs an average of $250,000 to raise a child from an infant to age 18. The emotional impact is enormous.

Bottom line – having debt can block you from achieving your goals. The faster you find a repayment strategy that works for you, the closer you’ll get to making your dreams a reality.

4. Increased Confidence

We might live in the 21st century, but debt still carries a stigma that can lower your self-esteem.

Financial distress can eat away at your identity. Intense shame over poor finances can make people spend more in an unhealthy attempt to mask the problem.

Maybe you are swiping your card to get a McMansion, nice cars, designer clothes, the best schools, the newest Apple products, or big vacations, but you are living on the edge of credit.

https://www.moneygeek.com/debt/resources/how-debt-can-harm-your-health/

Paying off debt is empowering. It can give you renewed confidence because you practiced discipline, made a budget, kept track of your expenses, worked hard to pay off debt, and came into financial solvency.

5. Better Relationships

It is no secret that many couples fight about money. For example, a 2018 Fidelity Couples Money Study found that 46% of couples in debt felt that finances caused the biggest problem in their relationship. In contrast, only 16% of couples who did not have debt concerns reported that money created challenges in their relationship.

The good news is that paying off debt can ease relationship stressors. If your marriage survives the laborious process of paying off debt, you have likely learned how to communicate well, respect each other, and build a stronger partnership.

One way to get started is to create a safe space to discuss finances with your spouse openly. Talk about debt, lay any resentment, or fears out on the table, draw up a budget together, plan your regular spending, and figure out your future financial goals.

6.    A New Connection Between Spending and Happiness

Once you have paid off debt, you might find that your beliefs about money and happiness change.

Paying off debt and saving money can give you that adrenaline hit you once got from buying a designer handbag or a fast car. In addition, many people find that experiences with friends and family can offer more happiness than swiping a card to make themselves feel better for a few minutes.

Financial freedom can bring a new kind of satisfaction and change your perspective on short-term gratification versus long-term joy.

7.    Broader Horizons

While debt can hold you back in life, becoming debt-free can expand your horizons by giving you the freedom to pursue business opportunities, save up for retirement, buy a house, or do whatever fuels your passion.

When you are no longer diverting a large chunk of your paycheck to pay off debt, your optimism will grow as you’re able to accept new opportunities.

8. Learning How to Make Smart Money Decisions

Most people take on debt like student loans or mortgages to accomplish their primary goals in life. Once you pay off debt, you can exercise caution about any new debt you incur. If you take out a business or home loan, ensure that your debt-to-income ratio is balanced and that you research the most favorable loan rates.

https://www.apa.org/gradpsych/2013/01/debt

You do not need wealth to make wise money decisions. Instead, you need to commit to debt-free living, seek expert advice, and make the hard choices between lifestyle and financial reality.

9. Better Mental Health

For thousands of years, most societies swept mental health issues under the carpet. Today, health experts agree that financial hardship and stress caused by debt can affect mental health.

If you are deep in debt and experiencing mental health problems, you should talk to mental health or financial professionals about the best steps to dig yourself free.

According to a Purdue University study in 2016, lowering debt levels can relieve mental distress and boost happiness levels nearly as much as earning a higher income.

10. The Strength to Escape and Stay Out of Debt

Once you have crawled out of the pit of debt, it’s easy to forget how hard you fought to escape.

Temptation can sit like a little demon on your shoulder. Now that you are debt-free, it is a good idea to stick to a budget that works for you and does not leave you feeling like you cannot spend any money. This can lead to a cycle of feelings of deprivation and overspending. 

Whether you are just starting the race or almost at the finish line, achieving freedom from debt can give you the practical tools and emotional perks you need to control your financial future.

Image credit: [GGuy44]

Best Tips To Summerize Your Home and Save Money

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It is almost that time of year when we finally get to play outside, drink lemonade, and break out our favorite shorts and sandals.

For most people, summertime is highly anticipated, in all ways but one: the heat. When the temperature increases, the energy bills go up as well.

The increase in the electric bill to keep that AC running is something most people dread. If you are already living on a tight budget, an increase of even a few dollars in utility bills can make a big difference.

But you can take measures to help keep your home cooler in the summer and keep more money in your pocket. Here are some steps to summerize your home.

Outside Your Home

Here are a few places to start on keeping your home safe from the withering summer sun!

Seal up that fireplace!

Experts estimate that uncovered fireplaces add up to six million dollars a year in wasted energy bills. Although they may help to heat your home in the winter months, leaving a fireplace as is during the summer allows cooled air to escape.

You can install a door over the front of the fireplace to keep the air from entering the chimney. Also, make sure the flue or damper is closed and consider a seal or insert to keep cool air inside where it belongs.

Let Mother Nature Do the Work

The landscaping around your home can help absorb some of the heat created by that summer sunshine and make cooling areas of shade simultaneously. For example, plant deciduous trees and shrubs that will shade walls and roof sections that receive the most direct sunlight. It also helps to shade outdoor AC units.

Consider the benefits that trees will provide during the winter months and avoid blocking any breezes that can help to cool your home. For the best advice, ask a professional landscaper for advice on which plants and trees to choose and where to place them for optimal cooling.

Install Overhangs

A roof overhang protects your windows and the exterior of the house and prevents that hot summer sun from beating directly against your windows. This helps the entire house stay cooler and will lower energy costs.

Paint It White?

Light colors reflect light and heat away from your home instead of absorbing it as dark colors do. Therefore, you probably want to consult an expert before painting your shingles.

Windows and Doors

Most of the cool air that escapes from your home gets out through the windows and doors. So, doing some preventive maintenance in these places, like putting up weather sealing strips, can save you a lot of money on your energy bills.

Replace Storm Doors

Many people remove the windows in their storm doors for screens during the summer months. This will allow you to take advantage of cool breezes on days when you do not need the air conditioner.

Check The Gaps

Check the window screens around your home for gaps and tears. Adding caulk around windows and door frames helps seal up gaps that you may not be able to see. Any space where cooled air can escape from your home will make your air conditioner work harder and add to your energy costs.

Keep the Sunshine Out

Covering windows in your home with heavy drapes and blinds will block the sun’s rays and help to insulate them. This keeps the heat from the sun outside while keeping the cooled air inside.

The most important windows to cover will be on the west and south sides of the home, where the sunlight is most direct. You can even choose thermal curtains and solar shades to get the best chance at providing extra insulation.

Time for New Windows?

If your home has older windows, it might be time to invest in energy-efficient windows. While the upfront cost may be high, upgraded windows will save you money in the long run. Solar window films, especially the Low-E kind, are another way to keep warm air from coming in through your windows.

Cool Night Air

While the windows should be closed during hot days while the air-conditioner is buzzing away, take advantage of those cooler night temperatures by opening curtains and windows as far as possible. Allowing your home to cool off naturally overnight rather than running the AC all night will save substantial money.

Let the Breeze Blow

If you have windows in your home that are across from each other or even diagonally spaced, open both windows to create a cross breeze that will naturally cool the space. Enhance the effect with a fan in each window, one set to pull air in and the other reversed to blow air out.

Speaking of Fans

The more fans you have, the better. Fans will help circulate the air in your home, whether you have an air-conditioner or not. Place fans in rooms you occupy frequently. If you have ceiling fans in your home, make sure they are set to reverse (counterclockwise) to pull warm air up toward the ceiling instead of blowing it down.

Keep It Cool with AC

If you are in the market for a new air conditioning system, consider the pros and cons of window units and central air systems before deciding which is suitable for your home.

Window units are very inexpensive, considering their value on a sweltering day. And you can move them from room to room if needed.

A central air conditioning system may be more economical, depending on the size of your home. It will cost more upfront but may save you money over time. Plus, it adds value to your home. However, consider additional costs like maintenance and repairs.

If you choose an outdoor central air system, keep it clean from dirt and debris that can block the airflow. You will also want to have it serviced regularly to keep it in peak performance shape. Have the professional check for freon leaks and change the filter every thirty to ninety days.

Size Does Matter

Choosing the right-sized air conditioning unit for your home is essential, especially if the idea is to save money on energy bills. A unit that is too big is a waste of money and is less efficient. On the other hand, a unit that is too small won’t be able to cool your space properly and will wind up constantly running, eating up money in the process.

Check the Vents

Check to make sure the registers are open in your home in the rooms you wish to cool. However, you may want to close any registers in the basement because that space tends to stay cool. Close off any rooms you don’t plan to occupy and cover the windows with shades or drapes.

Make a note of where the return air ducts are in your home. Blocking off a room without a return duct won’t help cool it down. Instead, try using a fan and running the AC on the cool setting instead of automatic. This will help keep a balanced temperature throughout all the rooms in your home.

Look around in the attic or crawlspace of your home and close any air vents leading to these spaces. While you’re up there, add some insulation. Insulation keeps your home warmer in the winter, and it can also keep the heat out and the cold air in during the summer.

Other Cool Tips

Avoid using appliances that generate heat whenever possible. Or try to limit their use to the early hours of the morning or late in the evening.

The oven and the clothes dryer are the biggest offenders. So, opt for the microwave or grill outside on hot days, or better yet, choose cold meals that do not require cooking.

As for the laundry, use an indoor drying rack or an outdoor clothesline to save energy and prevent extra heat in your home. Plus, line-dried laundry smells better!

Time to summerize: Get your home ready for warm weather

Check the lightbulbs in your home and replace any incandescent lights with CFL bulbs. Older style incandescent bulbs generate more heat and have been phased out of stores in favor of CFL or LED bulbs.

Cool Off Your Vibe

Taking steps to keep your home cooler and your energy bills lower is excellent, but there are some simple steps you can follow inside your home to make it feel lighter and cooler. Creating a cooler vibe might make you feel cooler too.

  • Change out heavy bed covers and sheets for lighter options. Linen and cotton are great summer options and will stay cooler than heavier fabrics. Go for light, cool colors to brighten a space and make it feel more like summer
  • Pack away clutter and knickknacks and opt for a more open, clean feel. The less you have sitting around to hold the heat, the better. Plus, it will give you a chance to do some redecorating
  • Cover upholstered couches and chairs with light-colored slipcovers. Then, add some splashes of summer color with throw pillows or accent pieces
  • Switch out wall art for options that feature light and bright colors. Or paint the walls to brighten a room with cool, light, summery colors
  • Store heavy or dark throw rugs for use in the winter. Choose bare floors or go with rugs that are lighter and more summer-shaded

For many people, summer is the best time of year, and it should be celebrated and enjoyed. Do not spend your summer sitting around sweltering in the heat. Instead, take some simple preventative steps to maximize your comfort and save money this summer. When you “summerize” your home, you can focus more energy on enjoying the warm weather and sunshine and less time sweating over that next electric bill.

Image credit: [Adamkaz]