Saving money is not easy. If it were, we would all be doing it and we would all be millionaires. One of the many challenges we face with saving money is that it typically requires time and energy; however, many of us work inside and outside the home and find it difficult to commit the time and energy we need to save money. Which is why I am always looking for quick and easy ways for my clients to save money and one of the easiest, most impactful ways is through your cable or satellite provider.
According to the most recent survey by the FCC, the average monthly price for cable programming was $64.41, which represented a 5.1% increase from the year before. This is significantly higher the 1.6% increase in the Consumer Price Index, a measure for inflation in the United States. Given this increase and the growing costs of cable services, you need to make sure that you are not overpaying for what you have. Here are three quick steps you should take to help you save money on your cable or satellite bill.
Step 1 – Research Your Provider
You should constantly check your provider's website for deals and offers that they have available for new customers. If you are beyond a contract period, then your provider should be looking at you as a new customer and should therefore offer you the same deals that they would offer another new customer. For example, if Time Warner Cable was your cable provider, their primary residential cable site gives you an example of a number of the deals they have now as well as a link to shop all of their offers.
Step 2 – Research the Competition
You may not want to switch from cable to satellite or switch cable providers; however, it definitely makes sense to ensure that you are aware of the types of deals that the competition is offering. In some cases, their offers for new customers may be better than those of your current provider and it gives you an idea of how much your provider should value you. It also gives you some excellent negotiating power in case you need to "threaten to leave." And if your provider will not work with you, then you will know what pricing to expect, should you decide to move your service.
Step 3 – Call your Provider
Now that you have researched the deals your current tv provider is offering, and what the competition is offering, you are armed with the best negotiating tools you can have to speak with your provider. Most people hate this part of the process, but in many cases, you can save up to $60 a month by picking up the phone. If I told you that you could earn $60 for talking on the phone for an hour, would you do it? Not to mention the fact that over a year, your actual savings could total over $700.
When you call your provider, make sure that you state that you saw the offerings they had available on their website and that you want your plan to match what they are offering online. If they claim that there is some sort of technicality as to why they cannot give you the same rate, then this is where you will use the information from their competitor. If they are still not willing to lower your bill, then you need to threaten to move your business to their competitor. If your provider does not value you enough to work hard to keep you, then they don't deserve your business.