Saved $913 in 2 Phone Calls – Just as Important as Making More Money

saved $913 in 2 phone calls

Yeah the time has finally arrived! I knew this was coming up and I couldn’t wait to make these calls. With two phone calls and about ten minutes of my time I saved $913 for 2016!! Well worth the effort I would say. Every penny saved is extra money to be applied elsewhere to reduce your debt. Have a look at the article “Knock Out Debt in Just 7 Simple Steps” to see some of the other ways I’ve managed to save and pay off our debts. I look forward to moving these saved payments towards our credit card debt instead. So on with my story. This is what I’ve been waiting to share with you.

How I Saved $913 in 2 Phone Calls

What I’ve been waiting for these past few months where our renewal for the mortgage agreement and our house insurance policy. These are two fairly BIG expenses that unfortunately we just can’t get rid of. Saving every penny I can on these two bills, let’s us free up some of our hard earned cash.

Though we’ve been cutting our budget almost monthly and selling off our excess stuff that is no longer needed; saving on these two bills has been very gratifying indeed.

Earlier this week I received in the mail our mortgage agreement. It was the first to arrive. I eagerly opened it up, only to find our rates hadn’t changed at all! Enclosed was the renewal for another 5 year term at 2.59%. This was the same rate we had been paying for the past five years. Now I knew with a little research that interest rates had dropped. I was expecting to see this reflected automatically within the renewal agreement. But nope. Long, sad face. I was truly disappointed. At first I thought I didn’t have any options and that’s the rate it was going to be for another long grueling five years.

Yet I couldn’t bring myself to accept this. Quickly I hopped on the Internet and checked the going rates for mortgages. Sure enough I saw rates lower than ours. So I picked up the phone and called the account manager in charge of our file. Of course a little phone tag. But eventually when I got through to her I asked her about the rates. She said it was a good thing I had checked and made the call to her. They did have a lower rate available. Sure enough there were actually two options. I went with the one with the lowest rate. I hope I’m gambling on rates remaining this way or dropping further.

We now have a two year term mortgage at a rate of 2.24%. This small change in the percentage has saved us $324 in 2016. Some of which my intention is to apply directly to the principal by increasing the minimum amount each month. So not only have we saved money. We are now officially paying off a little extra on the entire amount owing.

Fairly painless and just as good as trying to make another $324; wouldn’t you say?

I Also Saved Money on House Insurance

Next in the mail were our house insurance papers. I had never quite felt happy with this charge. As I always felt that they had overestimated the price of our house rebuild in case of fire etc and the premium reflected that greatly. In the past I had approached them about this topic and basically was told that’ all they could do for us. Well this time I wasn’t going to let that slide.

Earlier this year I had saved money on both car and motorcycle insurance. Dropped these premiums by literally half!! Again using the same method of research, call, then calling other brokers, accept the new rate! Let me tell you this works wonders.

Instead of searching high and low though I called our new car insurance broker. At the time I renewed the car insurance she had asked me about our house. I let her know the renewal was not until July of 2016 and that obviously cancelling would cost me. So I waited until the opportune time.

Now that the renewal was in my hands I checked the new rate. Our house insurance had in fact dropped a little since last year but only about $100. I still thought it was too high. When I spoke with the other broker I gave her the info she needed.

What was the worst that could happen by doing this? Nothing! Nothing at all. We still have insurance for the house and if new rates weren’t lower I would just sign and renew. So no loss and we would have saved a small amount just by the rates dropping.

What was the worst that could happen by doing this? Nothing! Nothing at all.

Instead to my surprise here is what the our new house insurance broker had to say. She said their company included a few extra features our current policy did not have. And the best part? You guessed it. A HUGE savings.

Our house insurance rate dropped from $1066 to $477 !! 😀

Can you see me now, grinning for ear to ear. Oh I was ecstatic about this. Another insurance policy that dropped to virtually HALF of our original payment. I had just saved ourselves $589 by making one phone call to our new broker.

Saved $913 for 2016

As you can see from what I’ve told you, I didn’t put a lot of effort into either of these calls. I had simply monitored new rates, checked a few things on the Internet and made 2 phone calls. It took a whole of about ten minutes and we had almost an extra thousand dollars in our pocket. Not bad, if I do say so myself.

How Can I Save Money Like This?

You can easily do this too. It’s not that difficult. Don’t be afraid to make a few calls. Talk to your friends and family see what they pay. Search on the Internet to find going rates. Mortgages and insurance companies are notorious for charging you a little more each time. Especially if you don’t keep track and are simply happy to sign on the dotted line. STOP! Don’t do this before making some calls. You’ll thank me.

After I called our current house insurance company to cancel our policy; she told me she could look at other companies and see what they could offer me. I politely said no thanks, I’ve asked in the past and this was the best you could do. Amazing how when you go to cancel they try and find you a better rate then. But not before.

Saved Money for 2016You and me; we are just numbers in their systems. We aren’t real people to them. They don’t know we are trying to make it day in and out. Live on a tight budget. They don’t care if you have debts to pay either. They just send an invoice and expect money in return.

I saved a thousand dollars on two bills, imagine what you could do by analyzing each of your bills? Doesn’t matter if it’s a cable bill, cell phone, Internet service or otherwise.

You can save yourself money by applying these same simple steps.

  1. do your homework (check Internet, ask friends, know your current rate)
  2. wait for your renewal papers or a statement of any bill
  3. call a couple of other providers
  4. make a decision based on new information
  5. SAVE THOUSANDS each year by taking control !

I hope you’ve enjoyed this article. Let me know if you have done the same thing and how much money you managed to save by doing so. I look forward to hearing how you did it and if you used the same tactics or have any different ones that you’d like to share with our readers. Be sure to sign up to our blog for all the latest blog posts and information.