Matthew and Ann McGrath both work, but even with two paychecks they struggle to make ends meet. Matthew says, "Even with two incomes making ends meet every month is difficult and now that we have a new child we have new expenses."
Paying bills is something we all have to do, but we may not have to pay as much. "In this economy, people are saving money by spending less. Most people eliminate the fun things like going on vacation and shopping, but they shouldn't do that. What they should do is reduce their so called fixed monthly bills, long distance, auto insurance, and home loans, but most people don't realize they can do this and the savings are significant," said Matt Coffin who is the CEO of Lowermybills.com.
It is a free web site that allows you to comparison shop on bills that you pay each month. Coffin says, "The biggest misconception about monthly bills is that they're fixed and there is nothing you can do about them, but the truth is you can easily do something about. Take for example, long distance, in less that five minutes, using the internet, you can compare prices and save hundreds of dollars annually. You can also do that with bills you may not think about. You can do it with home loans, auto insurance. You can even do it for your cell phone bill. Add it all up and we're talking about thousands of dollars in annual savings."
The McGrath's tried out Lowermybills.com and are seeing significant savings. Matthew says, "I didn't know there was one place where I could go to save money on my basic utility bills. Now I'm saving $200 a month which adds up to $4,000 a year." That's savings that the McGrath's hope to capitalize on.
Lowermybills.com started up about three years ago. Since then, consumers have saved more than $70-million. If you'd like, to visit the site ( click here ).
For NewsChannel 11's Consumer Connection, I'm Sharon Maines.