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When your biggest spend is monthly bills, why wouldn't you choose to review your bills on an annual basis. It seems logical but rarely people do this. Why? This is a series of Money Hacks to help to make extra money by creating habits in your life. Previously I'd touch on a few of these Money Hacks but wanted to go more in-depth and didn't want to produce a 10,000-word monster article for you to read. This series will only be completed when I run out of ideas to share so make sure you bookmark this site.

Review Your Bills Annually

Reviewing your monthly bills is a great way to save extra money, and should be done at least once a year, to ensure you're getting the best rate possible. It's a competitive landscape and the businesses that lured your into their client list last year might be offering a more competitive rate this year. But you'll never know unless you ask.

Reviewing your Housing Costs

Putting a roof over your head remains the single largest expense you'll have every month, so why wouldn't you review it at least on an annual basis. Perhaps your living arrangements have changed and you don't need a 4 brm house anymore or at the other end of the scale you've decided renting a room will halve your living expenses while you work on the bigger picture, like study or a business idea. Either way it's good to review where you live, at least annually to ensure it still fits your needs. And even if you're buying a house, you can at least check out the other mortgage lenders to ensure you are paying the lowest possible price. Often you'll find a cheaper rate and possibly some incentive to move to another lender if you look hard enough. Just make sure you aren't locked into a long term contract to stay there. Flexibility is the key to saving money.

Review your Mobile Plan

Have you notice mobile costs are getting lower? For sure, but it's unlikely those cost savings are being passed onto you. The carriers would prefer to upgrade your call costs or data plan than offer you the lower monthly plan price. So it's always important to check out other carriers, to see if they are offering a lower plan and make the switch if you can. However, if you get your handset from the carrier it's likely you're on a 24 month plan. So as soon as your contract is complete, make sure you unlock your phone from the carrier and then consider switching. Tip: Once you've found a better mobile deal contact your carrier and let them know you are thinking of making a switch. More than likely you will be switched to a retention team who will try to match that deal. But the best money hack, for mobile users is to buy your phone outright, with no contract and you'll be able to switch to new carriers the moment a new super deal becomes available.

Review Your Utility Bills

Utilities are often something people neglect to change once connected, but it's often an opportunity to get a better rate when new competition enters the market. And absolutely take advantage of any on-time payment discounts, as sometimes they can be up to 20% off which is a considerable saving. So be sure to shop around for discounted utilities at least once a year.

Review your Subscriptions

Have you noticed everyone wants to put you on a subscription plan? Well they know once you're locked in you're more likely to keep paying the bills than switch even if they state 'You Can Cancel at Anytime'. You should review subscription at least quarterly to ensure to much more isn't leaving your bank account. And you might be surprised what you did or didn't sign up for. First month free is always a trap even if you intend to cancel, because often you forget. So how often do you review your bills? Share your thoughts in the comments below. _{Image: Pixabay}

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