“Smart Strategies for Negotiating Your Monthly Bills”

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When to Review Your Recurring Bills

It’s essential to evaluate your bills at least once a year. This allows you to determine which expenses are necessary and which can be reduced or eliminated. Additionally, service providers may offer new pricing tiers that could benefit you.

However, a quick review every few months can also be beneficial. This helps ensure that you’re still using all your subscriptions and memberships. If you find that you’re paying for services you rarely use, it might be time to reconsider those costs.

Which Bills Can You Negotiate?

While some bills are non-negotiable, there are still ways to save money. Here are some common bills you might be able to negotiate or adjust:

• Memberships: You may not be able to negotiate a lower price, but paying annually instead of monthly can save you money. For example, Amazon Prime costs $139 per year or $14.99 per month, which totals $179.88 annually. Paying the annual rate saves you $36.88.
• Subscription Services: While you might not negotiate a lower monthly fee for services like Netflix or Spotify, many offer different tiers. For instance, Spotify Premium costs $9.99 per month, but a family plan for up to six people is $15.99 monthly, or a two-account plan is $12.99 per month.
• Utilities: If you have multiple energy providers to choose from, you can negotiate your utility bills by comparing options. Look at your internet, cable, cellphone, and other utility bills for opportunities to save by bundling services or adding lines.
• Auto Insurance: Shop around and compare auto insurance rates at least once a year. Changes in your situation, like driving less or moving, might get you a better rate. Improving your credit can also help. Use tools like Experian’s auto insurance comparison to get quotes from over 40 top providers.
• Credit Card Bills: If you have credit card debt, you might negotiate a lower interest rate or request the removal of late fees. Consider downgrading your card if the annual fee isn’t justified by the benefits you use.

If you’re unsure which bills are negotiable, don’t hesitate to contact your service providers and ask.

How to Negotiate Your Bills

The negotiation process varies depending on the type of bill. For memberships and subscriptions, you might simply cancel or downgrade services you don’t use enough. For insurance and utilities, start by getting price quotes from alternatives. Use this information to negotiate with your current provider or switch to a new one.

For credit card bills and similar services, you may need to call and speak to a representative to start the negotiation process.

If negotiating bills yourself seems daunting, consider using a service like Experian BillFixer™. They can negotiate your bills on your behalf, potentially securing better deals without you spending hours on the phone. BillFixer is available with an Experian premium membership, which costs $24.99 per month.

Make Bill Negotiation a Priority, But Don’t Do It Too Often

Reviewing and negotiating your bills can be time-consuming, so it’s generally best to do it annually. Frequent evaluations may not yield many savings opportunities.

Remember, it’s not always about lowering the bill. Consider whether the service is still worth the cost to you.

Improving your credit score can also help you save money on loans, credit cards, and utility deposits. Free credit monitoring can protect your credit score and help you achieve long-term financial goals like buying a car or a house.

For any mortgage service needs, call O1ne Mortgage at 213-732-3074. We’re here to help you with all your mortgage needs!

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