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Looking for ways to save money? Experts say start at home – NBC 5 Dallas-Fort Worth

As the price of products and services soar, it’s more important than ever to look for ways to save, and experts say you can start at home.

“A lot of us get used to paying for our home insurance, our cable and our data plans and just assume that what we’re paying is the price it should be,” said budgeting expert Andrea Woroch.

Woroch offers four major tips for fighting inflation.

CHECK RECURRING EXPENSES

“So you definitely want to dig into those recurring expenses, those subscription services, those memberships and ask yourself a few questions,” Woroch says. “First, do I need it? Do I use it? Is there a cheaper or free alternative? And how much do we really use it?”

If not, cancel it or see if there is a cheaper plan that meets your needs.

CONSIDER YOUR UTILITY USE

For your utility bills, making small changes can save you big. “So one or two things you can do to lower your energy bill without really sacrificing is consider these home energy hogs and how you can reduce their energy consumption,” Woroch said.

Try not to do big chores, like laundry, during the 4-9 p.m. rush hour and unplug things you don’t use.

CHECK CHEAPER RATES ON INSURANCE POLICY

There are also your home and auto insurance policies to consider, as most aren’t looking for cheaper rates after the initial purchase. Review your policies with your agent and see if there are any discounts or lower rates.

“And you can use a site like TheZebra.com which is an insurance comparator. You just enter your zip code and it will show you quotes from big companies and maybe small suppliers that you wouldn’t have thought to check. And what I love about the site is that they don’t sell your information,” Woroch said.

CONSULT YOUR INTEREST RATES

Even with rising interest rates, you can still consider refinancing loans and lowering interest rates. “So if refinancing is something you’re interested in, you need to make sure your credit score is between good and excellent to get the best interest rate available and the lowest currently available,” Woroch said.

Otherwise, simply paying above the minimum monthly payment can reduce the interest paid over the life of the loan. And, check out online banks for high-yield savings accounts.

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