Are You Getting The Best Deal?

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Are you getting the best deal that you can be getting?

We all have expenses that regularly occur, and we tend to like to stick with the deals that we get for far longer than we should. This article is going to encourage you to take note of your current expenses, research them individually, and ensure that you’re getting the best deal that you possibly can be. If you already are, great, if you’re not? No problem. You’ll now be armed with the information you need to get that better deal – and watch the savings pile up.

This evaluation should occur periodically. Too often, we allow ourselves to become comfortable with a regular cost, and stop asking if it’s the lowest amount that could be paid out for the service being delivered. While it’s true that loyalty does sometimes pay off, it’s also true that sometimes it’s time to move on.

For that matter, sometimes you’re paying for a service you don’t need at all. If this is the case, rejoice, because it means you can cancel it and save the money every single month.

Assess your commitments

First things first though, you need to break down your monthly expenses. I’m going to use mine to walk you through the process.

My commitments

  • Biweekly

◦     $50 for cleaning services

◦     $60 for gym memberships

  • Monthly

◦     $50 per month for health insurance

◦     $79 for mobile phone (had to replace handset)

◦     $99 for home phone and internet

◦     $102 for Foxtel

The total cost of all of my expenses is $262 every two weeks, something I honestly can’t afford, so I went on a hunt to see how to save money.

Reducing your commitments – a case study shown through my work

Cleaning services

My cleaning services really helped out, my dog had been wreaking havoc in my apartment while I was gone for the day, but when I broke down my expenses I realized I cannot afford the cleaner. So, I let the cleaner go, and saved the entire expense.

Foxtel

I wanted to be able to record my favorite shows, so I signed up with Foxtel. I do love the service, and it really helps me, so I knew I wanted to keep Foxtel – but did it have to cost so much? I analyzed my plan and found that I could reduce it by removing some of the special channels (the ones I barely watch anyway!).

After the reduction, I found I was saving $20 per payment.

Gym Memberships

This couldn’t be altered.

Health Insurance

I looked around just to be sure, and it turns out that $50 is the best that I can do. This does happen, and is good news in that I know that I know that I am already getting the best deal that I can be.

Home Phone/internet plans

I bought this plan because it allowed unlimited internet and phone calls, I thought “I’ll never have to worry again”. The truth is that, after a lot of research, I realized that I barely use the land line – and I never download. I do still need the internet, but a more basic package suited my needs and so I downgraded to $60/month instead of the $99 I was paying, saving $39 each time.

Mobile phone plans

I started with my mobile phone plan. Looking at my plan it is relatively expensive, but I signed up for a 2 year commitment to that plan. I looked to see if there was any way to change the plans, and when there wasn’t, I realized my mistake (committing to a 2 year contract). When it comes up for renewal, I will leave, but there’s not much I can do about that expense currently.

Renegotiating for the win

By the time I finished researching, renegotiating, and working with my expenses, I realized that I could save $169 every two weeks, reducing my expenses to $93 instead. This is a significant savings and allows me to build my savings and supports a more sustainable financial future.

Try it with your bills today.

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