There are always ways to look at different utility bills to see if you are paying too much! If you find a bill that you can pay less on, it can be helpful to use those savings to apply to debt and other bills. One utility bill that can be too expensive is your phone plan. There are always new deals and plans coming out for your families phone plan. Even if you get the best deal today, it may not be the best deal when your contract is up. Always research what company to go with and find out your prices are in comparison to other companies.
Some things to compare when looking at plans so save money are:
Prices Per Line:
Most families these days have multiple phone lines. An important part of deciding on a phone plan is how much you are going to end up paying for each line on a monthly basis. Some companies have a bundle that includes a certain amount of lines for one monthly fee. This can cut down on the cost of individual line expenses. In some cases, the more lines you add the less you pay for each line, up to a certain amount of lines. If you have a large family, this may be the best option for you. Just make sure to price compare what is out there before renewing your contract with your current company.
Data Rates and Speeds:
Many phone companies go back and forth with whither they have an unlimited data plan or not. If you can catch the phone companies when they have this plan, as well as when they are having a sale, it can be worth it. Not having overage fees for data can save a lot of money in a short amount of time! Regardless of if you end up on an unlimited data plan or not, always make sure to compare the prices of other data plans that have the same amount of usage as you currently have in your contract. It is possible that another company is currently charging less for the same amount of data. These savings will help you have extra room in your budget to put away in savings or to apply to other bills.
When getting a new device, make sure to look at all of the deals on the market for the phone you want. Some companies entice new customers with BOGO sales or discounts on the newest phones. If another company has a better deal on the plan as well as the device, it may be worth switching! Many companies also offer deals when you have to but multiple phones. So look out for all of the sales before your next purchase!
What to do with the new found funds, once you make money saving changes to your phone plan…
Make sure to have a plan for the newly saved money:
Now that you have this extra money to play with in your budget each month, make sure you apply it where you really need it! It can feel really good to have extra money to spend, but if you have bills to pay, your best bet is to permanently help your budget and pay off your debt. In the long run the extra money that will come out of not having bills and minimums to pay, will feel better than having the money now, but with debt looking over your shoulder. Set that budget and stick to it. Set yourself up for long-term financial success.