Ways to Quickly Save Money Without Giving Up Anything
My clients, and actually my family and friends, often talk about how they want to save more money. But when it really comes down to making those tough choices about what to cut and what to do without, their motivation, let’s say… dwindles. So I often say start with the little things. The things that you can save money on and not feel like you’ve really “cut” anything out. So here are a few ideas on where to start.
Renegotiate your cable and internet bill
The average American pays around $90 per month for cable and internet, and this cost is expected to increase over the years. Your cable and internet bill can be lowered but it does take action (and in my experience some patience and the use of your “nice voice”).
Here are some ideas on how to lower your cable and internet bill:
Bundle Pricing: If you’re going to go with a big name provider like Comcast, AT&T UVerse, Time Warner Cable, or Dish, remember to price out a bundled package. It’s usually cheaper to get all your services from the same provider then to piece meal them through different companies. Also don’t forget to price compare across providers, and use these price offerings when you’re negotiating with your current provider – and yes it is a negotiation!
New package offerings: Companies are always offering new packages and deals. So how old is your current cable/internet package? If it’s older than 6 months or a year, then there is money to save. While many promotions are maybe a month, 6 months, or a year, you can still take advantage of them at any time. The key here is to keep track of when they expire. Otherwise your great deal can turn into a horror show from one month the next. So if you’re going to get a premium channel deal for 6 months, make sure to mark your calendar and call back before the deal is over to renegotiate the next promotion.
Don’t be afraid to threaten cancellation! You get a much better deal with you threaten to cancel service…so don’t be afraid to use this. You get the best deals when talking to a “client retention” customer service representative. Turning off your cable/internet is actually pretty hard, they don’t want you to leave. So you do have power in this negotiation and remember that is what this is…a negotiation. Also, remember you can always hang up and get someone else who might be more willing to work with you on reducing your bill – their call centers seem to filled with all sorts of people.
Scale back services: Do you need a DVR in every room? While $10-$15/month doesn’t sound like a lot this adds up when you have multiple TVs and over the year. Also, look at the bandwidth your buying and what you’re actually using. So really think about how you use your TV and where money can be saved.
Go internet only: While this may seem crazy, this is where people who are fed up with the high cost of cable providers are heading. With a TV and a tablet you can probably watch most of your shows through the internet and stream them to your TV. Netflix, HBO GO, Amazon Prime, Hulu, and other network apps are making easier and often cheaper to go this route. Plus this way you just pay for what you use. Think of those hundreds of cable stations you never watch.
Memberships, are you using them?
We often forget about the cost of memberships since we often pay them once a year or they are directly charged to our credit card or taken out of our bank account. But these expenses can quickly add up. What memberships do you have? Here are some ideas to get you thinking: gym, Costco, credit cards, Netflix, amazon.
Shop around for insurance
Insurance rates and packages are always changing. This is true for your car, home, renters, life, or umbrella insurance policy. So how old is your policy? Plus, if you are buying multiple insurances don’t forget to price compare across providers and to bundle. Chances are that if it’s older than a year or 2 there could be a better deal out there. Plus life changes can also impact your policy, like your age or a family discount.
Other quick options to consider
- When is the last time you used your home phone? Maybe it’s time to ditch the home phone and it’s cost.
- Wasting food? Use online leftover recipe sites to help you make delicious meals out of your leftovers.
- Want a massage? Want to get your nails or hair done? Or go out to dinner? Remember to check out Groupon for deals in your area
- Use cash over credit. We often over spend when we use plastic to pay over cash. Plus the average credit card has a 14.95% interest rate. The interest rate on using cash is ZERO!! Try using just cash for 2 weeks and see how much money you save!
- Price compare prescriptions to find the best deal on your medications
Now this should be a good start to get you going on saving more money each month.
Remember to ask yourself – are there other areas in your monthly expenses that could be trimmed? How could you save just $100 per month? That’s $1,200 per year! Think about what you could do with that money if you had it? Savings, vacation, maybe something new you’ve wanted? Now, is that worth the effort or sacrifice?
For more money savings and growth wealth tips, follow me on twitter at @tmoneygroode
