As a mom and entrepreneur, managing finances during down seasons is critical. During a slower holiday season, I decided to take a close look at our monthly expenses and realized that with a few phone calls and strategic cuts, I could save my family a significant amount of money. After just one day of research and negotiation, I saved $150 that added up to over $1,500 annually. Here’s how I did it:
1. Start With Your Phone Plan
Our family had been paying $90 a month for two phone lines for over four years. I called our phone company to ask about promotions or updates to our plan. To my surprise, they reduced our monthly bill to $40—without changing a single feature of our plan. Sometimes, rates change over time, and companies are willing to make adjustments to keep long-term customers.
2. Reassess Your Alarm System
We were paying $34 per month for an alarm system with features we didn’t even use. When I contacted the company to downgrade, they offered me a promotion that cut our monthly bill in half for a full year.
3. Negotiate With Internet Providers
When I reached out to our internet provider, Verizon, they didn’t have active promotions but were still eager to retain our business. They extended our payment deadline by two weeks and even gave us one month free of charge. It never hurts to ask, especially if you’ve been a loyal customer.
4. Consolidate and Cancel Subscriptions
This was a big one for us. We had subscriptions to Netflix, Paramount, Hulu, Spotify, and Disney Plus. After reviewing everything, I realized we were double-paying for services bundled with Hulu. I canceled unnecessary subscriptions and stuck with the Hulu, Spotify, and Disney Plus bundle we were already paying for.
It’s worth checking if your subscriptions overlap or if your phone company offers streaming services as part of their plans. For example, some companies provide free subscriptions to streaming platforms for a year.
5. Renegotiate Gym Memberships
I also called my gym and explained that I was considering canceling to cut costs. They offered me a discount that reduced my membership fee by a third. Most companies prefer to retain your business at a lower rate than lose it entirely, so don’t hesitate to negotiate.
The Power of Advocacy and Negotiation
This exercise taught me the importance of advocating for myself and my family. Businesses often have promotions, bundles, or adjustments available, but they won’t volunteer that information unless you ask. Here are my key takeaways:
• Review all your subscriptions. Look for overlaps, unnecessary services, or opportunities to consolidate.
• Call your providers regularly. Long-time customers often qualify for loyalty discounts or promotions.
• Be prepared to negotiate. Companies want to keep your business and are often willing to work with you.
• Ask about seasonal promotions. Around the holidays, many businesses offer discounts or temporary relief to support customers.
As an entrepreneur, I understand the ups and downs of income fluctuations. This budgeting practice not only helped us save money but also reminded me of the importance of being intentional with our spending.
Take a day to review your subscriptions and bills. Call your providers. Cancel what you don’t need. You might be surprised by how much you can save with just a little effort. For me, those simple actions resulted in $1,500 back in my pocket—a financial win for my family and my peace of mind.
