Budget Tune Ups - How I made $4000 per hour!!

Our Budget needs a tune up periodically, just like our car.  At least once every two years we need to call our service providers (internet, cable, cell phone, car insurance, home insurance, gas, power, etc.) and ask their customer service representatives to help us lower our bill. Most service providers are happy to assist, as they are very focused on ensuring we don’t switch to their competition.   

I recently spent roughly 3 hours working with my internet and cable provider, insurance broker, and utility providers, and was able to save our household more than $12000 over the next 24 months   That works out to roughly $4000 per hour for my time!!

You need to be persistent and be prepared to ask for the next level of customer service.  For example, my internet and cable provider originally offered me 10% savings.   I told them I needed more, and they then referred me to their “Loyalty” department.    They were authorized to be more aggressive to ensure I did not leave, and I ended up with 25% savings as long as I committed to a two year agreement.   

When it comes to insurance, the key is to have a good broker and ask them to get you at least 3 quotes from different insurance underwriters.   The premium differences can be quite shocking.   I was able to reduce our property and vehicle insurance by 40%.  

The savings from optimizing our service agreements is an essential part of ensuring we offset inflation and can make progress toward our long-term saving and investment goals.  

“If you work hard at what you do, great abundance will come to you. But merely talking about getting rich while living to only pursue your pleasures brings you face-to-face with poverty.” Proverbs 14:23 TPT

Todd Payne

The Path Forward Financial Inc.