I Used ChatGPT To Cut My Monthly Bills by $500 — Here’s How
Written by
Travis Woods
Edited by
Brendan McGinley
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Let’s face it: American life is expensive and is only getting pricier with each passing year. Cost of living is ballooning thanks to inflation, trade instability, high housing costs and labor shortages, making financial corner-cutting all but a total necessity. One way to cut down on your spending in the face of rising costs? Slash your bills as much as you can.
With that in mind, I asked the AI chatbot ChatGPT how to cut my monthly bills by $500 — here are the trims it suggested I make and where to make them to reduce my cost of living.
Subscription and Membership Costs
A number of people and households pay for more subscriptions than they actually use. ChatGPT has suggested that you reevaluate your subscriptions monthly to determine which you need and which you don’t. You can cancel or pause the streaming services you don’t often use. When possible, you can switch paid apps to free alternatives. At the gym, you can renegotiate or even cancel a membership if you don’t use it often.
Potential savings: $50 to $150 per month
Food Costs
It can be easy to overspend on food. You can cut costs by eliminating restaurant dining, which includes food delivery apps. Meal-prepping dinners for the week can control grocery costs as well as food waste. When shopping, ChatGPT suggests opting for store-brand items rather than name-brand goods; also, be sure to use a shopping list to avoid splurging on impulse buys. Finally, adhering to discount stores like Aldi or Walmart (or warehouse clubs) can keep food prices low by quantity.
Potential savings: $100 to $200 per month
Housing and Utility Expenses
Housing can eat up a great deal of your monthly budget. ChatGPT suggested negotiating your rent with a prospective landlord (as many landlords will allow for small reductions if you sign a longer lease). Additionally, renting out a spare room to a roommate can significantly decrease your monthly housing costs.
In terms of your utilities, replacing old light bulbs with LEDs, unplugging devices not in use, switching to a cheaper internet plan or negotiating your rate and relying less upon your heater and air conditioning can all shave costs off monthly utility fees.
Potential savings: $150 to $200 per month
Debt Costs
If you have loans or credit cards, payments on those can often be reduced. You can refinance or consolidate your credit card debt to a lower monthly rate or ask your credit card or loan provider for a hardship reduction. Also, if your credit is healthy, you can transfer debt balances to 0% APR promotional cards.
Potential savings: $100 to $200 monthly
Transportation Costs
As ChatGPT noted, cars can be expensive, even when not in use, thanks to high insurance rates. Shopping for new and cheaper insurance coverage (or renegotiating your current coverage) can lead to monthly savings. Canceling unused car-care memberships can also put cash back into your monthly budget. You can save on gas costs by carpooling or by utilizing public transportation even just a couple of days a week. If you’re looking for extreme savings and you live in a city that can accommodate it, you can even sell your car and rely 100% upon public transportation.
Potential savings: $100 to $200 monthly
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