Negotiating your bills

Two of the most effective ways of saving money are also the simplest – shopping around and negotiating. By doing so, you can make sure that you’re always getting a good deal and not paying too much for a range of services.

Think of all the services you pay for: telephone and broadband, gym membership, healthcare and opticians, car insurance, health insurance, house insurance, energy supplies – can you be sure that you’re not paying too much for any of these?

As an example, let’s start with your internet or broadband supplier – when your provider sends a contract renewal notice, you could be missing out if you don’t shop around and compare prices from other suppliers. You may be able to get a better deal or an introductory offer elsewhere, and at the very least you can ask your current contractor to match or beat a rival’s price. Most providers would rather offer you a lower price, or give you additional services and features, than lose you as a customer.

It’s a similar story with insurance. Before your policy automatically renews, check that you are paying the most competitive rate and can’t get a better deal elsewhere. You can do this easily with a price comparison website – just a few minutes spent online can result in significant savings.

With any agreement, make sure you read the small print and are cautious of your contract period, as usually you'll be locked into these services for the set time. If you need to make any changes or cancel your contract you may well be faced with additional fees. Don’t be rushed into making any decision.

You may also want to consider asking for a discount in exchange for agreeing to a longer-term contract, perhaps for 24 months rather than just 12. Doing so could mean that you can save money in the long run and also have peace of mind that your services are locked in for a longer period of time.