Before the holidays arrive, now is a great time to review your budget and identify where you can negotiate better prices for certain monthly and recurring expenses. Lowering your bills by negotiating these items can put more money back into your pocket. One way to free up extra cash is to negotiate certain bill payments, especially if you have been a longstanding customer. Some of these bills can include cable or satellite television, cell phone services, medical bills, bundled services, and even rent!
Cable or Satellite Television
Because cable plans can vary from month to month, it’s always a good idea to see what latest promotions are happening. Ask your representative if there is an updated promotion for your current plan.
Cell Phones
Check for ways to save on your current cell phone bill such as autopay incentives, updating your cell phone insurance if applicable, and reviewing eligible discounts for students, government employees, and more. Review your data usage to see if you can cut back on what you’re paying for.
Medical Bills
It’s estimated that 41% of adult Americans have some form of medical debt. To negotiate these bills, review your invoices and check for errors. Some medical billing errors can include duplicate charges, incorrect billing, and upcoding. Research the insured rate for your service and ask about any financial assistance programs. Talk with your representative for ways to reduce your overall costs.
Bundled Services
If you’re bundling services, such as auto and home insurance, chances are you are likely getting a lower rate by bundling the services together. However, you can still find more ways to save! Review your current plan and speak to your representative on ways to further reduce the costs which can include current promotions and offers they may have. Revisit your bundled services every so often to ensure you are maintaining the best deal possible.
Rent
With rent prices continuing to hike, it’s always worth negotiating your rent payment as a tenant. Highlight your strengths as a tenant such as timely payments, courteous to neighbors, and maintaining the property. Research the property’s value to justify your reasoning. Negotiate directly with your landlord and follow up with written communication. Remain polite and professional when negotiating. Before speaking to a live person, we recommend these tips and tricks to better help you get the outcome you’re looking for:
- Total the costs for the year – Total the amount you’re paying annually for the service. This will give you a ballpark number of how much you are currently paying.
- Research competing plans and sign-up bonuses for your area. This will give you an idea of competing rates and perks for the same service by another provider. This information can be useful and justify your reasoning to lower your current payment.
- Have your current monthly bill ready, with account numbers on hand for easy access. Keeping your information on hand will better help you and the representative with account identification and history.
- Make your sure account is in good standing. Before calling to negotiate prices, it’s always best to ensure your account is up to date and not delinquent.
- Be kind and patient when negotiating. Rather than demanding, it’s always best to approach the conversation in a kind and gentle tone. See how far your kindness takes you!
See how much you can save monthly and annually by revisiting recurring bill payments every so often. Compare prices with old payments and save an extra bit of cash when possible. For more questions or help with financial assistance, contact an Eastex Credit Union representative today!
