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Financial Friday

Tuesday, December 22, 2020   /   by Mario Daniel Sconza

Financial Friday

How To Save Thousands With One Phone Call

If making a phone call could save you $1,000, would you dial the number now?

Assuming the price you pay for something is non-negotiable is an expensive mistake.

??Three Negotiation Tips To Save Your Money

1. Speak to customer retention. For example, when you call your phone provider, you rarely make it past customer service. To get better deals, you need to speak to customer retention.  

2. Have a plan and be a lawyer. Imagine you are going to trial. It's you against your bill provider. Do you have a strong case to win over the jury?   

3. Study the competitors. Learn what the special offers are for competitors of your provider. Use this knowledge to negotiate. "I spoke with Telus last week. They have a plan for 5GB of data and unlimited calling for $40/month. Can you match this?" 

?? 7 Bills To Negotiate

Use the script above to negotiate these bills and save more.

1.    Credit Card - See about an interest rate deduction or switching to another card with better rewards (but no additional fees).

2.    Cable/Satellite - Discuss the services offered. You may be able to get a better deal bundled or by eliminating channels you don't watch.

3.    Cell Phone - Review your plan and shop around. You may not want to switch carriers, but if one of the competitors offers a better deal, you can use that to negotiate.

4.    Internet - If you signed on with a special offer that expired, call in and see what they would do to keep you. 

5.    Medical - Hospitals and medical offices negotiate bills all the time; however, it's usually the insurance companies that do the negotiating. If you have a bill, it doesn't hurt to try.

6.    Insurance Premiums - By negotiating or shopping around, you can lower the cost of life, auto, motorcycle, homeowner's, and renter's insurance premiums.

7.    Rent - Have good standing as their tenant? You may be able to negotiate cheaper rent if they want to keep you.

Before negotiating any bill, remember - Preparing is half the battle.