6 Strategies to Lower Your Recurring Monthly Bills
Bills never end, but that doesn’t mean you can’t find ways to save. Most people pay far more than they have to because they don’t negotiate terms or research actual costs. Invest in learning and practicing these six strategies to lower your recurring bills.
Call Companies and Ask for a Discount
Many businesses have guidelines that their representatives follow if their customers ask for a discount or need an incentive to keep doing business with the company. If your contract is expiring and you’re not sure if you want to stick with a company, call and let them know — they’ll most likely offer you a reason to stay with them.
Combine Services or Bundle for Savings
Are you paying for multiple services from several companies when you could bundle and work with one provider? For example, many cell phone companies also provide internet service, and most insurance companies offer myriad types of policies. Combine services or look into bundling to lower your monthly expenses.
Extend Your Contract
If you’re a customer on a contract, would you be willing to extend that agreement in exchange for lower rates? This is good when dealing with cable, internet, and cellular companies, as they may offer longer-term commitments than what your current contract outlines. If you’re comfortable being locked into a long-term agreement, this could lower your monthly bills.
Research and Negotiate
Did you know that you can negotiate prices for any services that you currently have? There’s no reason to pay a quoted price for things like gym memberships, internet service, and insurance. If you’re a loyal customer, there are services you don’t need, or you’ve got a friend who’d be willing to sign up if you both got a discount, call to negotiate a lower price.
If you need help negotiating or want a professional opinion about ways you could lower your bills, try bill negotiation with BillSnip. This is a service with an app that does all of the bill negotiating for you. Signing up is easy — text a photo of your bill to 808-201-1992 or email to [email protected] to get started.
Refinance or Consolidate Loans
If you’re paying off a home mortgage or a large auto loan, you could speak to your loan provider about refinancing. This can provide some short-term relief, but you could incur some long-term interest that leads to a greater overall total for these loans.
Consolidating is another option. If you have many small loans, you could take out a new loan with a lower interest rate and take advantage of smaller monthly payments.
Try a Zero-Balance Transfer
A zero-balance transfer is another technique that could save you some money. Look for credit cards or new loans that offer a zero percent interest period. Sign up, and use the loan to pay off debt that would otherwise accrue interest. If you can pay off the loan during the no-interest period, you’ll pay less overall and enjoy lower monthly payments since you’ll only be paying the principal amount.
No matter what bills you’re currently paying, there are plenty of options to lower those amounts. In many cases, all it takes is a phone call. Try the above tips to get some much-needed financial relief.
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