Want to cut down on your expenditures? Many people don’t know this, but you can  negotiate down prices of services you pay for. It’s all a matter of doing it properly and effectively. It definitely pays to take a little time to learn how it works. Before you know it, you’ll be paying less for bills like your cable, internet, phone, credit card, utility, and other miscellaneous payments.

Here are some effective methods you can use to stretch your dollar:

Shop around and compare prices

The only way to be sure you’re getting the best deal is by doing your research. There’s no way around it! Luckily, there are many blogs and price comparison websites that do the legwork for you. It won’t hurt to do a little Googling before putting your money down for something. Call your friends, family, and even visit businesses in person to find what kinds of deals are there. Compare them, and find out who’s offering the best value for money.

It’s also important that you’re talking to the right person when you call a company. Usually, entry level sales people are only able to offer generic rates. Go a level higher! Ask to speak to a boss, manager, or owner to find out what the best rates are.

Negotiation 101: Don’t take the first offer

When you reach out to a company, sales reps typically say there’s no way they can give you a discount. Insist on talking to someone in a higher position. Then, when you do get an offer, try not to accept the first one. Hold out for something better by making a counter offer. See if they are willing to negotiate with you.

If employees are not willing to make concessions on the price, you can try to tell them you have no choice but to cancel. See how they respond to this! Many companies have “save” offers to keep customers from leaving. They may be able to offer you a deal.

Let them know they are about to lose your business

Because businesses worth their salt know that losing a long term customer over a bill isn’t worth it, tell them upfront that you are experiencing financial difficulties and will  have to cancel the service if they aren’t able to help. Often times, they will be able to offer you a lower rate than before!

You also have the option of telling them about their competitor’s prices. Show them the research, and let them know their competitor is offering a more attractive rate. They may try to meet their competitor’s prices to keep you as a customer. If that is not possible, say you will be cancelling your account and switching to their competitor.

Watch Your Savings Grow!

Use this lesser known way of cutting bill payments, and you will be watching your savings grow in no time! Your efforts in talking to these companies will definitely pay off. It will go a long way toward your dream of owning a home or even repairing your credit score.

You’re not alone in this – if you’d like some help, we have specialists you can turn to. Have you had a success in lowering your bills? Tell us about it below!