Like HowStuffWorks on Facebook!

10 Money-saving Tips for Families


7
Pay your Bills!
Paying your bills to save money? It seems counterintuitive, but NOT paying them can actually cost you a lot more in the long run.
Paying your bills to save money? It seems counterintuitive, but NOT paying them can actually cost you a lot more in the long run.
Tara Moore/Taxi/Getty Images

You know what's a great way to save money? Not paying your electricity and cable bills every month, and cheerfully ignoring your credit card statement! Oh, wait. That's a great way to pile up insurmountable debt and simply forestall inevitable bankruptcy.

True, monthly expenses can be daunting. But paying off debt and staying on top of bills will prevent a host of problems in the future. Of course, keeping your lights on, your water running, your car in the driveway, and a place to live are a really good excuse for paying your bills. Keep in mind that one missed rent check could legally have your landlord drawing up papers to evict you within days, and mortgage and auto lenders are also pretty stuffy about that whole paying-on-time thing--meaning you could be suffering serious consequences pretty soon after a missed payment [source: Weston].

So how do you keep that credit rating high? Try using a software program--or simply a spreadsheet -- to keep track of bills, and to keep a careful eye on expenditures. Instead of scattering your mail in a trail from your front door, immediately file bills in one place.

Self-sufficiency paying your bills is one thing; a do-it-yourself attitude around the house is a little more daunting. Read on to find out more about do-it-yourself projects and repairs that'll save you money without intimidation!