How to Negotiate Your Way to Saving Big Money!

How would you feel if I told you that you could call Verizon Fios right now and save over $200 on your next cable bill? Sounds crazy right? Well it’s not!

You can negotiate any bill you please by simply calling your provider and speaking to a representative. Remember even though your bills come in every month, it doesn’t necessarily mean they are set in stone. Here are the top 5 expenses you may want to consider bargaining for.

1. Monthly Expenses

Negotiating your monthly expenses (cable, internet, and phone bill) takes patience and determination. It also can’t hurt to try. Due to the high competition among related companies, you may want to voice the possibility of transferring to another provider. Since you are such a loyal customer, your current provider may be willing to lower your monthly payment if you choose to stay with them. If your mission fails, then you can look into other (cheaper) options to help you save extra money such as a cheaper data plan or Netflix instead of cable.

2. Credit Card Debt and Interest Rates

If you are someone with a high interest rate credit card, then this tip may be worth reading.  Let your credit card company know that you are exploring lower interest rate credit cards and are struggling to meet your monthly payments. Remind them that you are a loyal customer and express how much you want to stay with the company. They may be open to negotiation.

If you are someone in deep credit card debt, then you may be able to also negotiate your settlement to a lower amount, especially if you have reasoning behind your debt. If you are struggling with a severe illness or recently lost your job, then you may want to let your creditors know and see what they can do. See if you can negotiate with your creditor for new (lower) monthly payments over a longer term; offer to pay some of your bills in cash so they know you are good for the money.

3. Rent

Thinking of staying in your apartment for a few years? You can use this to your advantage to negotiate a better price with your landlord. Offer to sign a multi-year lease for a discount on your rent. Depending on the properties interest, your landlord may be willing to strike a multi-year deal for less rather than search for a new tenant which would take time.

4. Medical Bills

A trip to the hospital can cost you thousands of dollars in medical bills. These bills can be overwhelming and add more stress to your current emotional state. Take a trip down to the billing department and ask to go over your hospital bill to make sure no mistakes were made. Work with them to come up with a payment plan. Since hospitals know they may never receive the full amount, strike a deal to pay less if you can pay upfront or on the day of your visit.

Financial negotiation is a skill everyone should consider learning. Always keep in mind that you are giving your provider business – you are the customer.  This can give you an edge when trying to reach a better price. What’s the worst that can happen? It can’t hurt to try. Have you negotiated any of these expenses? Know of any other expenses that can be negotiated? Feel free to share your ideas and comments below!

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