“Adulthood is a scam.” As responsible adults, we often find ourselves simply accepting the bills that arrive in our mailboxes or autopay from our accounts without question, but what if we told you there was a way to potentially cut down those costs and save yourself some money? That’s right, here are 10 tips to save money by negotiating down your bills from savvy Teach Me About Property Students who proactively participated in our August Challenge (Set to help them to effectively negotiate down their bills to keep more of their hard-earned cash in their pocket.). So don’t just pay; Negotiate.
“Finally got the challenge done and dusted. 🤙🏼 went to Vodafone got $5 off each ($10) reduction on me and my daughters monthly phone plan. And also, able to have our nbn changed over from Aussie broadband saving $10 a month and get more than double the mbps; from 98 to 240. Yasss!! 🤘” – TMAP Student
Tip 1: Switch to a cheaper NBN (National Broadband Network).
In today’s digital age, a reliable internet connection is essential. However, that doesn’t mean you have to settle for an expensive NBN plan. Do some research and find a cheaper provider that offers the same speed and data allowance.
Tip 2: Be Prepared to Walk Away.
One of the most important things to remember when negotiating your bills is to be prepared to walk away. If your provider isn’t willing to budge on the price, don’t be afraid to switch to a different company. By being willing to walk away, you’ll show your provider that you’re serious about getting a better deal.
“Ok managed to close a storage unit – saving of $210/month and got some fees reimbursed $60/month. Could really negotiate further as I had already reduced phone bill ($40/month for 2 phones) and got a $25 credit on electricity due to reporting an incorrect reading they made (yes, I check the meter). Good challenge. Now registering completion. BTW- learned to not change electricity companies too often because they run credit checks, same for postpaid phones even if it’s only $11/month they still run a hard credit check. Super annoyed but left as is.” – TMAP Student
TIP 3: It’s time to say goodbye to that storage unit that you’ve been holding onto.
Stop paying a hefty monthly fee for stuff you probably don’t even remember that you had and say hello to some extra cash in your pocket. By closing that storage unit, you could potentially save yourself some money per month, and if you play your cards right, you might even be able to negotiate some of those unnecessary fees to be reimbursed.
TIP 4: Take down your meter readings every month.
Keep track of your meter readings every month. By doing this, you can catch any discrepancies in your bills and have solid evidence to back up your claims. Plus, it shows the company that you are paying attention and won’t let them get away with overcharging you.
Tip 5: Use Competing Offers to Your Advantage.
When negotiating with your provider, it’s helpful to have competing offers to use as leverage. Research what other companies are offering and bring up these deals during the negotiation process. Your provider may be more willing to give you a discount if they know you have other options to save money.
“Well what a Month lots has been put in place that were able to negotiate with our phone and electricity companies and get reduced costs saving us an extra $15 a week that’s huge savings thank you very much 😜I had to push it 1 further and got a $30 savings off our Foxtel, Netflix’s package which really blow me away as she said we have been a loyal customers for 17 years and this is what she can offer us Absolutely Stoke with the outcome and she said we have earned highest members Rewards she is sending out to us Yaay 🙏👍💥” – TMAP Student
Tip 6: Negotiate with your electricity company to get reduced costs.
TIP 7: Negotiate for discounted packages on your streaming services.
“Finally got our mobile phones & internet on to one plan. My husband & I had separate phone accounts previously.” 🙏 – TMAP Student
Tip 8: One simple trick is to consolidate your phone plans.
If you and your family members are all on separate accounts, consider putting all your mobile phones on one plan. Not only will this help you save money in the long run, but it will also make bill paying a whole lot easier.
“I challenged my life insurance policy as I was paying 115.00 a month. I had stopped smoking for 2 years and asked what my rate would be if I were a non-smoker. It dropped down in price to 67.00 per month. 48.00 per month saving I was stoked. I have changed phone provider so saving 5.00 per month. I board so don’t have to worry about power and Netflix” – TMAP Student
Tip 9: Make lifestyle changes or revisit your lifestyle changes and ask your life insurance policies for better rates.
Have you quit smoking, started exercising regularly, or made other positive changes to your health? It’s time to save money through those improvements and ask your life insurance company for better rates. Don’t be shy about flaunting your healthier lifestyle and asking for a different rate – you never know until you ask!
Tip 10: Switch to a cheaper phone provider.
Don’t just settle for the first offer your current phone provider gives you. Shop around for better deals and be prepared to switch to a bargainous one.
Effective negotiation with service providers is a valuable skill that can help you keep more of your money in your pocket. By following the tips shared by our Teach Me About Property Students, you can take control of your finances and work towards reaching your financial goals faster. Don’t settle for paying the full price; instead, take the time to negotiate and see how much you can save. Join the TMAP family today to be part of a community that is focused on achieving financial success.
