It’s that time again … time for the “twice a year” self-audit! Thankfully, this is a little more fun since you are doing it yourself and looking for pennies to save … not like the IRS audit where they are look quarters to take!
September is a great time to take all of your household bills and give them a good in-depth study. Here are some keys to finding and saving on these recurring expenses:
1. Study your utilities and compare to one year ago. (In many cases, you can pull electronic copies of your bills down from the company website.) Is your usage dramatically different? Do you know why? If not – and it’s higher – you should call to investigate!
Also, if you are paying the same rate now as a year ago – ask for a decrease. Companies have the power to negotiate – especially if you live in an area where utilities are deregulated. If the corporation won’t work with you, investigate other options.
2. If you have credit card debt and you have paid more than the minimum payment with no flaws, call to ask for a decrease in your interest rate.
3. If you have cable or dish television, are you really watching all of those channels? Are you paying for movie channels that you watch once a month? Would it be cheaper to pay for that movie through Pay-Per-View or Redbox?
4. Check to see if companies offer a discount if you pay through some sort of “auto-debit” option — where they withdrawal your monthly payment. Some will waive your yearly fee or offer a small discount, plus it saves you the hassle of remembering a due date!
5. If you are paying on a car loan, do you qualify for a lower interest rate? Earlier this year, I refinanced my vehicle and dropped 5 points! It made a huge difference in the payment as well! I thought I had a great interest rate (it was excellent at the time of purchase), but now we are seeing some all time lows.
6. Once all is said and done, rework your budget. Live in the now whether it’s a pretty picture or not. Make a plan and work the plan … and hopefully, you’ll be better off then you were before you started!
€¦ and remember, there’s no cents in paying full price! Negotiate, negotiate, negotiate!!!
* This post is part of a weekly segment on KSBJ Christian Radio. For more on segments featuring Stephanie Click, the Texas Money Mom, click here.
