I did this experiment in my past and I know most of you can also, I successfully found a way to cut expenses on a monthly basis, all of you should follow the simple steps to save yourself a Benjamin Franklin too. So I didn’t do anything complicated, I just harassed a few companies and asked if there was anything they can do to lower my bills. Negotiation tactics 101 at it’s finest and guess what I slashed my bills by a hundred dollars. That’s basically the gist of this post. Never settle to pay more when a quick phone call can net you better results for your money. Cable companies and credit card companies never want to lose you as a customer so do your best to talk them down a few bucks on a monthly basis.
Slash your bills by $100 the steps I took:
1. Cable Bill- reduced by $30 dollars. Still have all three services. Internet, TV, and Phone.
2. APR on a Credit Card- reduced by $20 dollars. Rate went down from 9.99% to 3.9 %
3. Car Insurance- reduced by 25 dollars by raising my deductible to a higher amount.
4. Changed my W-4 exemptions- increased net pay by $25 dollars. Increased dependents on my W4
Yes I know what you’re thinking the last one is not a bill, but in my defense the first three are, majority wins this argument. Anyhow the results show $100 dollars extra every month that I can use to build up my emergency savings account to 6 months of expenses. Which happens to be my next goal that I hope to reach. Most financial experts say to first payoff debt before building savings, unless there is a family situation that calls for you to increase your emergency savings, for example the birth of a baby or if you foresee a layoff at work. Then you should only pay the minimum to debt and increase emergency funds as to have a barrier against anything life might through your way. This will only work if you successfully reduce your fixed expenses and then redirect those dollars to savings.
Now comment back if you have done anything similar to slash your bills by $100.
Don’t let those companies take your money, fightback and watch your money!
*PS: If you increase your exemptions on your W4, you may get less of a tax return during tax season. Consult a tax adviser if you are unsure and you will receive advice tailored to your situation from a professional accountant.
Thanks for the recommendations, Uncle El! I tried to get some traction with Target customer service to reduce the absurdly high amount of interest on my account.(Apparently usury is not a sin when you're private industry or the government). I hope the conversation *was* being recorded for training purposes…the "supervisor" stood firm that Target would not reduce the amount of the interest (regardless of my stellar credit) but they would essentially rather lose the lower amount of interest they would collect if they lowered their interest rate. I was told to "do what's best for you" in considering whether to move the account to a *different provider*. Different provider, here I come!Regarding other tips:-If you have cellphones in your household from more than one provider, get a family plan from whomever gives you the best rate. Remember to balance in penalties (if any) with closing accounts…-I also consolidated land line, cable access and internet into one (lower) monthly payment – if that goes up in a few months, I'm back on the phone and I know they will accommodate me-Get a programmable thermostat (Uncle El, you may have mentioned this one before), but set your heat at 68 or below and your a/c at 78 or a bit above. You will save $$-Walk more – if you have a grocery or fruit and vegetable store nearby, or you're running errands, etc, use your head and your feet! Keeping the car parked saves you $$ and improves your health!
@Studio- Thanks for the comment, your added tips for the thermostat and walking more will def save some people many dollars. I am always looking to decrease my carbon footprint.