Tired of High Cable Bills Here Are 20 Ways to Save Money

                                     

According to the NPD Group, the average pay TV subscription package in the U.S. could reach $200 by 2020.

At the beginning of 2015, Comcast and Time Warner Cable both raised the rental fees for customers who lease cable modems and renamed the word on customers’ bill’s to “voice or data equipment”. For Comcast customers, the fee increased from $8 to $10 per month. Time Warner Cable increased its monthly modem fee from $5.99 to $8.

Since you can get basic cable for as little as $19.99 per month and cable plus internet for less than $40 per month, if you spend more than that on Netflix and Hulu or other digital programming then it is better to keep cable. Comparison shop to find the best price at http://www.myrateplan.com/bundles/.

Here are 20 ways to reduce your high cable bill.

1.      Ask. Ask if your bill can be reduced. Consider talking to an online representative through chat. If you are unable to get it lowered, ask for the cancelation department.

2.      Refer to the competition. Refer to specials and discounts offered by competitors.

3.      Research. Do research on discounts and promotions the company may be offering through advertisements or on their website.

4.      Don’t make the first move. Let the company start negotiations and then decide if you will accept the offer or want to negotiate further.

5.      Get just the basics. Get the cheapest plan possible; eliminate all premium channels, extra features such as DVR, HD service, sports packages, pay per view channels, etc.

6.      Check back often. Companies offer at least 10-20% discounts on pricing, coupons or specials that are not advertised. Call every 3-6 months and ask about discounts.  Discounts usually last 6 months to 1 year.

7.      Service. If you are not happy with the quality of service you are receiving inform the company. If you had paid your bill on time remind them of that as well. Let them know you would like to remain a customer but cannot afford the current pricing.

8.      Price Lock. Ask the company if they offer price locks. This will help you keep the price for at least 6 months to 2 years.

9.      Loyalty. Remind them how long you have been a loyal customer and that you are considering switching to another company. 

10.   Bundle. If you have multiple services with different companies bundle services to save money such as cable, phone and internet.

11.   Alternatives. Rent movies from Netflix, Redbox or the library. Use services such as Hulu or streaming services such as Zatto, Hitbliss or streaming from TV stations such as ABC, CBS, NBC or Fox.

12.   TV. Eliminate televisions in every room with a separate cable box.  Keep televisions with a cable box in common areas only such as the living room, family room or basement to save money.

13.   Cancel. Cancel Wi-Fi service. Use Wi-Fi at public locations or libraries.

14.    Avoid contracts. Contracts include hidden fees and you could miss out on a lower priced promotion.

15.   Waive. If you have been a loyal customer or have good credit ask to get fees waived such as installation fee, late fee, service fee, etc.

16.   Equipment. Return equipment you are no longer using and get a receipt.

17.   Senior Discount. Ask about a senior discount.

18.   Install. Buy the equipment yourself and install items such as modems, routers, adapters, etc. Buy used equipment online to save more money. You can purchase a Time Warner-compatible modem for $90 to $130 instead of leasing one and a Comcast modem for approximately 70. Comparison shop at http://mydeviceinfo.comcast.net/.

19.   Inquire. Review your bill each month and inquire about new or unknown charges.

20.   Terms. Read the terms and conditions of the services you pay for to ensure you don’t violate them and incur additional fees.

Budget is Not a Dirty Word

A budget is an itemized summary of your total monthly income after taxes minus your total monthly expenses - everything you spend money on.  A budget helps you determine whether you can spend money now or later.  A budget helps you prioritize your spending and helps you manage your money no matter what your income.

A budget is only restrictive if you don't have any extra cash left over after you pay your bills. Celebrities, athletes and the wealthy have budgets. They hire accountants to keep track of their money so why shouldn't you keep track of yours? 

Seventy percent of Americans live paycheck to paycheck and forty percent of Americans live above their means. This statistic shows there is a serious problem in America. 

When your budget is out of balance you use credit cards or risky financial options when causes you to go into debt and this can lead to serious financial problems such as foreclosure, bankruptcy, etc. If you know how much money you earn you should also know how much you spend.

How to Develop a Budget

1. Subtract monthly expenses from your monthly income. If the total is negative or less than 5% of your total monthly income that is a red flag that you need to make some major adjustments to your budget.
2. Track daily, weekly or monthly.
3. Keep all your receipts and reconcile your bank accounts.
4. Use an automated software tool, pen and paper or the envelope method.
5. Include some wiggle room.
6. Create short and long term financial goals.
7. Take accountability for your actions. Don't blame others for your financial situation.
8. Write down a list of at least 3- 5 financial goals. Develop an action plan and beside each debt write down steps on how you can achieve them.
9. Surround yourself with at least three people who are doing better financially and gain financial advice from them.
10. Don't keep making the same mistakes.
11. Seek professional help if necessary.

Benefits of a Budget

1. Helps you become accountable and responsible
2. Prevents you from spending more than you have
3. Reduce usage of credit cards
4. Shows you what you are doing now
5. Reduce fees (bounced checks, overdraft, over-the-limit, late fee, etc.)
6. Prevents arguments with your spouse or significant other and helps reduce blame
7. Helps you save money when making purchases because you don't have to worry about credit card interest and finance charges
8. Budgets are only restrictive if you make them restrictive and see a budget as something negative.
9. Prevents harassing calls from creditors
10. If you work all year or even part-time, spend time running errands, taking the kids to activities, invest in yourself and spend at least a few hours a week looking at your finances
11. A budget is needed even if you pay your bills on time.  The best athletes have personal trainers and coaches to help them remember the best, so if you want to get better with your finances start a budget

How Budgets Can Prepare You for Future Events

1. Is your financial roadmap
2. Helps to deal with unexpected expenses
3. What you do today will affect your future
4. Can help you plan for the future
5. Frees up cash to achieve financial goals

Fantastic Reasons Why You Should Invest Your Money

Investing your money is a great way to plan for your future including retirement, college education for your children of other investment opportunities such as starting a business. Investing allows your money to grow over time using compound interest. Well managed investment plans allow you to live the life you want and deserve. Investing allows your money to grow tax deferred. Investing outperforms inflation and will provide you with steady income when you retire. 

Many people ask for advice from friends, co-workers, family members, strangers and their financial planners about what they should do with their investments or retirement plan. Every investor has different financial goals and objectives and should work with a financial planner to develop a plan to assist with meeting those goals.  

Financial planners have expertise in how to survive the ups and downs of the stock market and can provide the best advice and if and when you should move your money.  Here are some smart tips to help you invest your money.

When to invest

1. As soon as you start working as an adult or earlier.  If your company does not offer a retirement plan open your own IRA. You will need at least 30 years of investing (depending on your salary) to have enough money for retirement.
2. If you plan on getting married.
3. If you plan to have children.

How to prepare for investment

1. If you want to retire by age 65 or sooner.
2. Pay down debt.
3. Create an emergency fund 9-12 months.
4. Get adequate insurance life, health, disability and long-term care insurance.
5. Consult a financial advisor to help you set financial goals, set a retirement date, decide where you want to live and the lifestyle you want to have.
6. Plan for your estate (will, trust, advanced directive).
7. Become a homeowner.

Benefits of investing

1. Reduces stress, anxiety, fear, depression related to your future. 
2. Allows you to develop a solid financial plan so you can focus on other things such as spending time with family and friends and maintaining good health.
3. Helps secure your future and earn income outside of your job.
4. Generates income.
5. Prepares you for retirement.
6. Helps you manage your money.
7. The more you save the more you earn.
8. Creates generational wealth.
9. The future is not promised, you must prepare for the unexpected.

Where should you invest your money?

1. Diversify
2. Mutual funds
3. Individual stocks
4. Bonds
5. ROTH IRA
6. DRIPS (Dividend reinvestment plan)
7. Options
8. Futures

You are your greatest asset. Investing helps generate wealth to allow for a successful retirement, pay for your children’s college education, purchase real estate or start a business.