No one enjoys paying bills, especially when it comes to hidden monthly costs and sneaky fees. Although you may think you’re getting the best deal — or maybe you don’t even check your bill since you automatically pay monthly — there’s always a way to slash your costs. If you’re willing to put in a little work to do your research and engage in light negotiation, you may find you can bring down your monthly payments with just a few phone calls.
If you’re looking to cut down on your monthly bills, consider these six easy ways to help you save money.
1. Make A List Of Everything You Pay
Often there is a long list of who we pay monthly bills to, from phone companies to television providers to memberships and subscriptions.
Check your credit card bill to make sure everything is accounted for – you may be paying monthly bills that you don’t even realize. Look at this list and decide what is necessary and what you can cut out.
2. Bundle Your Services
Using one service for all your needs can help reduce your costs up to 20 percent, according to Real Simple. Additionally, cable companies often pair with cell phone and internet companies to offer bundled, discounted rates.
3. If You’ve Been A Long Term Customer, Just Ask
It may sound obvious, but the first step to lowering your bill is to just ask. You’d be surprised how many companies will be willing to work with you, as they often offer new and competitive plans to lock in customers. Call a customer sales representative and let them know you’ve been a customer for some time, and let them know you want to make sure you’re getting the best rates.
If they can’t budge on the rates, ask, “Is there anything else you can do for me?” Then wait, and see what they say. You might be surprised by their answer.
4. Get Leverage By Mentioning A Competitor
If you’re not getting the deal you want off the bat, do your research. Mention any commercials or ads you have seen, reference competitor pricing, and ask what other people pay each month. This is the point where you need the necessary knowledge to negotiate.
5. Consider Leaving
After attempting to work with a company for a better deal and not receiving what you want, consider telling them you want to cancel your plan or downgrade. Many customer service departments have a retention specialist who can help work with you to give you a better deal in attempts for you to keep your services.
6. Get Rid Of Auto-Pay
A study from The Review of Economics and Statistics found that customers who pay for their monthly bills on automatic pay end up paying more than those who review their bill each month. Looking at your monthly bill forces you to think about what you’re consuming and make the proper adjustments or cut down on consumption.