Jonah JacobsIf you aren’t implementing these three hacks, the answer is yes.
Let’s face it: Trying to find room in your budget is no fun. Most of the time, it involves cutting entertainment expenses such as dining out or a Netflix subscription. Or it involves sacrificing your comfort by making moves like turning your thermostat up or using less water for bathing.
While those moves can save you money, we’ll discuss some much simpler ones that can keep more cash in your pocket without having to sacrifice a thing. By simply being a bit wiser with the way you pay for things, you can save every single month while still maintaining your comfortable lifestyle.
1. Never pay a person over the phone.
Paying over the phone is more convenient than doing so in person. It can also be a lot more expensive, though, which is why we recommended using the following options to make bill payments:
- Through the company’s app.
- Online.
- Via automated phone service.
- By sending in a check.
What’s the problem with paying a live person over the phone? Some companies charge you for doing so, and those fees can add up.
For instance, let’s say you use Spectrum Cable for your TV services and Verizon Wireless for your cell phone. Spectrum charges $5 to make a payment over the phone using one of their representatives, while Verizon charges $7.
Now, imagine you pay that way each month because you didn’t know any better. That adds up to $144 per year!
When is the only time when you should pay a live rep via phone? If it’s your only option because the bill is about to be past due. Or, you can do so if the company does not charge for such a service.
2. Never use apps or the Internet to place food orders.
This tip may seem counterproductive, as you can find great food deals on restaurant apps and websites. However, studies show that you can spend up to $10 more by simply using an app or the Internet to place your food order. Why? Blame it on the upsells and how easy it is to add items to your order.
Now, compare that to how it is when you order food over the phone. If you call up your favorite pizza place, you probably know what you want. And if the person taking your order is busy and slammed with phone calls from other customers, they probably can’t waste a ton of time taking your order. Due to these reasons, phone orders tend to cost less, which can lower your food costs. As a bonus, ordering less food can help you from packing on the pounds, which can lead to lower health care costs in the future.
3. Never use autopay.
Can autopay come in handy if you’re forgetful about paying your bills on time? Sure, but it can also lead to higher bills if you don’t check them each month.
Studies show that using autopay can lead to overpaying six percent on your bills. So, if you have a utility bill that’s $100 per month, that extra six percent can cost you $72 per year.
What’s so bad about autopay? It can keep you from analyzing your bills, which can prevent you from spotting excessive usage or clerical errors that can keep your expenses high.
