In this video, Ramit Sethi tells you how to save $1,000 by making 5 phone calls. The essential message is to call these companies once a year and outright ask them to reduce your fees, you will save money. In particular, he recommend you do this with five types of companies:
1. Cell Phone
2. Gym Membership
4. Credit Card
I have done things like this in the past, and it does work. Cable companies in particular are willing to negotiate lower rates rather than lose your business. And companies often have deals going on that they will give you the benefit of if you push them a little bit.
What works even better, though, is to remove these bills altogether. Of the five types of companies, I only have business with a cell phone company and an insurance company. I can work out for free at home or outside, so I don’t use a gym. I can watch TV for free online (and there are lots of benefits to turning off the TV). I do have a credit card, but I pay it off every month and so never have to worry about interest rates.
The point is, there is a good way to save money–call and get the company to reduce the bill–and a great way to save money–eliminate the bill completely. But as long as you’re saving money, it’s all good. [LifeHacker]