Failure to regularly check what you are paying for services can be very costly. While Wheeler Financial discloses your fee every year as part of our client’s annual review, providers of many other services do not. The prices of many of the services you use can increase significantly over time. A few specific examples of this are cable/Internet, car/homeowners insurance, and satellite radio. Here are some things you can do to fight price creep.
Call your Internet/Cable Provider- Cable and Internet often work in one or two-year contracts which are lower but then expire, thus moving you to a more expensive ongoing rate. It’s a good idea to make note of the expiration dates of these contracts and contact your provider around the time of expiration to if there is a better rate available. Satellite radio contracts work in a similar fashion, and I have found that with a few rounds of negotiation, you can get a much better price.
Call your insurance agent- Ideally, your insurance agent will be in touch with you to keep rates reasonable. However, I found that this is often not the case. Every several years, it’s a good idea in many cases to contact your insurance agent and ask them to “re-rate” you. Alternatively, you can shop other providers to ensure you are getting a fair deal.
Becoming wealthy doesn’t happen by accident, and staying on top of things like this can help you stay on target!