I called our internet provider before the “promotional period” ended because I wanted to see what the cost was going to increase to. I was shocked when I found out how much they were about to charge me! Then I got angry. If I wasn’t paying attention, it was going to jump $20 per month!!
I raise this issue because there are opportunities everywhere to negotiate your bills. Perhaps you need to look a little closer at your cell phone bill. Maybe you want to investigate other car insurance companies to see what they have to offer. You never know what is out there.
Let’s look at cell phone providers. Nowadays, everyone has unlimited data and unlimited texts. However, do you really need the newest technology? How badly do you want to get out of debt? You may be stealing from your future right now if you have a monthly payment on a cell phone you cannot afford. It is worth the investment to pay it off as opposed to always trading it in for the latest and greatest. All you really need the phone for is to make calls, and send texts/email. Remember, you can sacrifice – temporarily – until you get into a position where $1,000 phone is not that big of a deal to just pay cash.
Now let’s look at car insurance. When was the last time you went shopping for car insurance? There are agencies that offer (2) 6 month payments. Other agencies offer a discount if you pay for the year in full ahead of time as well as reductions in your premium year over year. Others have the additional rideshare rider to stipulate that you can work for a delivery service and be covered.
Did you know, you can reduce your premium by increasing your deductibles? That goes for comprehensive and collision. It pays to know what your coverage is.
Ultimately, I negotiated with the internet provider to grandfather me in at only an additional $10 per month. We don’t do a lot with the internet outside of work and streaming TV shows, so the $20 uptick was really overkill. If I just let it pass, I would have been stuck in the new agreement at a price I wasn’t willing to pay. Plus, we weren’t budgeting for that excess, so I knew I needed to make a choice.
Get a better understanding of your bills to see where you can increase your cost savings. Every little bit counts! It is your job to find ways to cut expenses and increase your income in order to scratch, claw and fight your way out of debt. You can wander into debt, but you have to be very intentional if you want to get out.
If you need help doing so, schedule a consultation call. https://calendly.com/madsenfinancialcoaching