How I negotiate my bills!
Do you want to save more money? I am pretty confident that we ALL want to save more money. Well, I am here to tell you that you can save money on your monthly bills today! That’s right, most of us are paying to much on our monthly bills. But, the good news is that you can easily negotiate bills. All it takes is a little research, time and diligence.
Why Negotiate Bills?
There are so many reasons to negotiate your bills. The most important reason for me personally is to have more money! I’m always looking for places to scrimp and save. I mean, who doesn’t want more money????
Imagine the things you can do with some extra money each month?
- You could pay off your debt faster!
- You could grow your sinking funds at a quicker rate!
- You could spend that money on something FUN (because we all know bills are not a fun way to spend money…amiright????)
- You could use that extra money to save towards your future.
There are so many possibilities. The most important thing though is that you will have the extra money to choose to spend in the way that is best for YOU! There is nothing better than that!
What Bills Can I Negotiate?
If you are wondering exactly which bills you can negotiate, I say all of them! I like to follow the rule that it never hurts to ask!
You will never know if it’s negotiable or not if you don’t ask! The worst thing that can happen is they will say “No.”
Here are a few bills I recommend you start with! Each of these service providers are all well known of allowing negotiating.
Cable/Satellite TV
We personally got rid of our cable TV years ago, but if you haven’t made that cut yet you can try to get a better deal. Most cable services will let you negotiate to a lower rate. It’s worth the phone call!
During this phone call be sure to bring up how long you have been a customer. If you have been devoted to the company for years they will be much more likely to give you a discount!
It’s also helpful to ask for any promotions they might have at the time. Cable companies usually rotate different promotions throughout the year. However, if they by chance don’t have one you qualify for, mention a promo their competitor might be offering. Most cable companies will match a competitors deal, which is great news for all of us!
Credit Cards
Your credit card balance is your responsibility, however you can negotiate a lower interest rate! A lower interest rate will mean paying that card off quicker and cheaper! This is what we all want!
Credit card companies like to reward loyal and responsible behavior. If you have been on time with your payments, tell them this! Explain how many months you have been on time and then kindly ask for a lower interest rate.
Medical
Did you know that medical bills are negotiable? Many people don’t realize this, but they totally are!
If you can pay your bill in full up front, ask for a discount. Every single time I have asked, I have been told “yes!”. This discount is usually between 15-25%. Which can be a significant savings!
If you are unable to pay in full, ask for an interest free payment plan. This is a great set up because you can pay your bill at your own pace, without having to pay extra in interest.
Internet
Negotiating your internet bills is easy and very similar to negotiating your cable/satellite bills.
When negotiating, be sure to ask for current promotions and mention the promotions their competitor is offering.
Another good strategy is to ask for a cheaper internet package. This might mean slower internet, or less services. But, if you need the extra cash it will be worth it!
Insurance Premiums
Negotiating your insurance premiums is another excellent way to save on your monthly bills. Most insurance agents are willing to work with you on these bills. Never be afraid to ask! They want your business! It’s their job to make you happy!
There are a few things I suggest to bring up during this meeting. The first is to ask if you can pay once a year, rather than monthly. Many companies prefer to be paid in one lump sum and will give you a discount if you pay this way.
The other suggestion is to ask your insurance agent for a bundling discount. This means that you will “bundle” or group your insurances (life, home auto) together with one company. You can almost always get a discount for bundling.
Bill Negotiating Tips
Negotiating does take a little bit of time and bravery. It can be intimidating to call these companies up; so I am helping you out with a few bill negotiating tips.
Do Your Research
Be diligent with researching before calling up a company. Research competitor prices, look over your bills to check your consistency on your payments. Know what you are talking about before asking for a favor. They will be much more likely to listen.
Be Polite
When negotiating it is important that you are firm and diligent in your requests. However, you can be firm while also being polite and considerate.
The people on the other end of the phone are real people with feelings. You will be listened to more if you are polite.
Be Willing to Leave
If you really want to lower your bills, you need to be willing to leave your current provider. When you threaten to leave your current service provider, they will usually listen up and honor your request.
But, you have to mean it! There is a chance they will say, “Ok, then leave.” And you will need to be willing to live with those consequences.
Today’s Challenge
Make a list of all of your monthly bills. Choose two of them to try to negotiate to a lesser amount. You can do it!
If you find success with those two bills, negotiate another one!
Remember, the worst thing that will happen is you will be told “No.”
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