The one thing that I can’t live without today is my sexy smartphone. It’s the first thing that I reach for when I wake up to see what the market is doing! I listen to music on it, I track my spending, I trade on it, the calendar tells me where to go or who to meet, I keep in constant contact with my friends and family by texting or facebook and work with email – I even make a call every so often. It has become essential to my life but knowing that I love money more than even it – I won’t let the cost get over $5o before tax.
Recently I had seen the cost of my bill creep up to around $86 with tax based on my usage. Knowing that there are all of these new telecom competitors entering our market with fantastic smartphone right now is a great time to smoosh you bill. I called yesterday and reduced my bill from around $86 a month to $52 including tax! Total score, right. If I stay within my plan limits that will save me $408 a year! That is enough for a flight to LA or NY to have an amazing weekend with friends. Here are my steps to get those same savings while improving your plan and then re-invest them into your own happiness ! Win win win.
1. Run around town and check out all of the carriers Smartphone plans and deals. Be sure to check your office fax room fist. The best deals are offered to employees of large companies so see if you can get a group rate based on your employer.
2. Find the best deal that would reduce your bill to around $50 that includes unlimited after 5pm and weekends calling, over 500MB of date or more based on your usage, unlimited texting, and all the Voicemail and caller ID options. You should be able to get your smartphone bill down around $50 a month. No one needs to spend more than this on a phone bill. If data is your money evil then look for wi-fi locations to use less.
3. Call your carrier and ask them to cheapen your plan based on the fact that there are all of these new competitors out there with cheaper plans. This guy is just a door to the person who has the real power to humour them as the try to take $5 to $10 off your bill or tell you that is the cheapest. Say “Thanks so much but it is still way too much, can you now tell me how much it would be to cancel”. Now watch the alarm bells go off as he offers you the moon and his first born. Ask to be transferred to the customer loyalty department if he doesn’t send you directly there. Now you’re “wurking” it out the right way. You are on your way to crazy savings!
4. When you get to the loyalty department charm them with everything you’ve got. This department gets all of the livid customers and you being cheeky and flirty is a welcome treat for them. I’ll joke and say “Sandy – is that the best you can give your favourite customer? I’d cancel and pay the fee just for the principle that you’re not giving me your best deal!” “You know I’m your favourite customer Sandy – give me your best plan”. The telecoms are being squeezed by the new competitors and they have lists of all the best deals. Have them compare your usage to the list of competitor plans they have and get the cheapest rate you can. Play hard to get until you have your ideal plan for as cheap as you can get it. It’s like dating – they’ll chase what runs!
5. Once you get your best plan keep scouring the earth for a better deal. If you find one call them up and try to get that option. If your bill ever gets messed up or they charge the wrong amount – phone your smartphone company and try to get some free stuff. Again ask for the loyalty department and see what they can do for you. They’re your money saving buddies!
6. Buy the common stock of your major telecom and let the dividends pay your smartphone bill. They all pay great dividends, have great growth potential as mobile phone penetration in Canada increases and are telecoms are relatively recession proof. Your phone would be the last thing you would cancel if you were down on your luck. If you get a 3-5% dividend yield from owning your own telecom like Bell, Rogers or Telus with a $10,000 investment – you would get $300-500 a year to go towards your bill. Why not get them to pay the entire thing?
Hope you enjoyed my blog today. Keep loving your money and there will be $408 savings to love you back from your bill!
Have an awesome week,