Financial Friday: Pick 2 Bills and Renegotiate
On one day, once or twice a year, it’s worthwhile to get rid of those unnecessary, recurring bills. Today is that day.
We all order Netflix, Hulu and other periodic charges over the course of the year. This type of charges tends to be small, but regularly recurring. As such, we pay a lot, but we only see the charges come in a little at a time.
In our busy lives, it’s easy to postpone cancellation until long after we’ve last used a service. The problem is that these bills add up. Since you’re not using the services, the money spent on them is wasted.
Read through your latest credit card bill and bank statement in search of any unused services that continue to be billed. Cancel them today, and, for fun, keep track of how much you save over the course of a year.
Today is also a good day to call your cell phone company to see if there is a better plan for you. Rates have been dropping, and the plan you signed up for, while good at the time, may now be more expensive than newer plans with the same company. A quick phone call could get you a much better rate.
Valrie Chambers, Ph.D., is Chair of the Accounting Department and associate professor of taxation and accounting. Betty Thorne, Ph.D., is a professor of statistics and the Christian R. Lindback Chair of Business Administration. They write Financial Fridays to bolster students’ financial wellness, including preventing financial mistakes, safeguarding their assets and identity, and thinking critically about financial decisions. For questions, contact Valrie Chambers at [email protected].