My Two Cents

I gave their product a test drive this past week. After entering in some personal information, I was able to identify a few ways to save with the click of a button. BillShrink has software to help you save money in four categories: wireless service, credit cards, gas purchases, and CDs and savings.

Wireless / Cellphone

I haven’t had a landline in over three years which means I live and die by my cell. I currently spend $180 a month on three lines and was thrilled to see what I could do to save a few bucks. BillShrink took into consideration every issue I would encounter in switching plans, down to factoring in early termination fees with my current provider. Impressive! All I did was supply my account information for my providers website and they did the rest. I also got a detailed analysis of my usage and found out that 36% of my phone calls the previous month were to my best friend…yipes!

I did notice that the amount shown for my monthly bill was incorrect, and my only option was to manually enter my usage information myself (aka, reverse the gloriousness of having them aggregate that for me). I was still able to get a rough guess on how much money I could save by switching my plan by doing some simple math on my trusty calculator, though.

Credit Cards

I’m a firm believer of staying away from credit at all costs, but have been lured into using rewards cards for my bills and paying off the balance every month. It’s a nice way to collect on some great cash bonuses. After entering information regarding my current card and spending habits, BillShrink offered me a list of cards that would offer much better returns. I was not able to compare my current card and the cards BillShrink suggested side-by-side, but I could easily compare the cards they suggested and quickly found one I could use to earn an additional $700 a year. Applying for the card was as easy as clicking a button and entering a little more information., an online money management program, has a similar section on their site, but the card offers on BillShrink were much better.

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Gas Stations

When I was in high school I could fill the tank of my Mazda Protégé with $10 and still have enough change to buy a soda. Things have changed a bit since that time and I had no problems letting BillShrink show me the way to budget-friendly fuel. After they factored my typical daily route, asked some important questions (like how far I’d drive for a deal), and determined my mpg by asking what type of car I drive, BillShrink found multiple stations where I could save a pretty penny. To be exact, I could save nine cents more than I paid the week before without driving very far out of the way.

Savings / CDs

Savings and I have a love / hate relationship: I love saving but my money hates to be saved. So I was very interested to see if there were any accounts that could drum up additional interest earnings than the ones I currently use. I was delighted to see that BillShrink offered options based on sole CD use, sole savings-account use, or both of those combined. That’s worth a gold star in my book! I toyed around with the various options and found a combination where I could earn an additional 7% over my current interest earnings.

BillShrink: My Two Cents

BillShrink is free and easy to use. They do 99.99% of the work for you unlike most sites that require you to come up with your own estimates. It’s not something I would use daily, but definitely a site I’ll check up on from time to time. If you’ve got a spare 10 minutes, you should test it out as well to see how much you can save.

Plus, they have this great infographic on their site that highlights consumer rights under the new CARD Act, and tells which banks are already in compliance. Bookmarking the site solely for this info is worthwhile, and will help you make sure your creditors are playing by the new rules.

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