An Often-Overlooked Savings Tip on Phones and Internet Service
(Day 2 of J. Steve Miller’s Financial Tips)
(Day 2 of J. Steve Miller’s Financial Tips)
Money management gurus often speak of the priority of cutting costs, citing such maxims as “a dollar saved = two dollars earned.” (Think: if you need to come up with $1000 for summer vacation, you can either save $1000, or earn $2000, which, after taxes and stuff is deducted, will give you the same $1000.) The same works for business. Sam Walton’s brother, Bud, said that early Wal-Mart made its money by “controlling expenses.”
Of course, I’m preaching to the choir here, since savings is what this blog is all about. So here’s one tip that some of you might have not caught on to yet:
“call your internet service provider and phone service to ask if they have any special deals or cheaper rates.”
At first, this seems rather silly. After all, why would they want to give you ideas to help you pay them less money? The reason? It costs them more money to get a new customer than to keep an old one. If they treat you right, they keep getting your monthly payments.
So here’s how it worked for me. Years ago, I was paying about $65 per month for DSL internet service through Earthlink, routing it to five computers. I received an ad in the mail telling me I could get the same service through a competing cable service for $45 per month, but I didn’t want the hassle of changing, losing my e-mail address, etc. So I called Earthlink, telling them that I really liked them, but their competition was offering me a much better deal. They said, “no problem, we can give it to you for $40 per month.” Really, it was that easy.
For 20 minutes worth of conversation (15 minutes were on hold, listening to elevator music), I save $25 per month, or $300 per year, or $3000 every 10 years! (Always, always, think through the long-term implications of monthly payments.)
About a year later, I got another enticing offer from another service for $35 per month. I called Earthlink. They said, “Hey, we’re running a special this year for $29 per month.” I took it.
After the year was out, it jumped back up to $40. I called about another offer and they said, “we can’t beat that, but we can give you faster internet for the price your paying.” I needed faster internet – some of my kids were doing online gaming.
I do the same thing with my phone company. Often, I get a nice, motherly person on the other end. I’ll say, “Hey, I’m paying a ton of money for phone bills. Can you look over my bill and tell me if there’s a better way for me to set this up?” Often, they find something to save me money. It doesn’t cost her personally any money. Her job is to keep customers happy.
If you find other ways to cut down these monthly bills, let us know. By sharing insider tips, we all save!
J. Steve Miller wrote the award-winning personal finance book, Enjoy Your Money! How to Make It, Save It, Invest It and Give It
– “the money book for people who hate money books.”
Did you miss Part 1 of our Interview with Steve?
Don’t forget to enter our giveaway HERE to win a copy of Steve’s book!!
