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How to Negotiate Lower Monthly Bills

With unemployment numbers still off the charts and the economy officially in a recession, you may find yourself needing to cut back on your monthly spending. While you’re already no doubt trying hard to budget in other areas of you life, you actually have a good shot at saving money on your bills, too: It’s possible to negotiate for lower regular monthly payments, just by asking.

In the video above, staff writer Lisa Rowan explains the strategies to use when asking for lower payments for various services.

  • For household utilities, call your energy provider and see if they have any new promotions, or incentives for “clean energy” programs.
  • For credit cards, ask for a forbearance program that would defer your payments for a couple months.
  • For your cell phone, cable and internet bills, call your provider and ask for a different plan with a lower rate to fit your needs. If that doesn’t work, many competitors are willing to pay out your remaining contract in order to get you to switch.
  • For car insurance, call your insurance company and tell them you are considering getting rid of your car altogether. They may reassess how much you drive in order to lower your rate or tell you about a new program that could result in a discount.

For these tips and more information on lowering student loan payments or even your rent, check out the video above. Remember that if times are really tough, you can seek assistance from your local United Way.

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