Sunday, December 23, 2012

Freshening up the finances

I know, who is thinking about their finances right now. ME! With the amount of money leaving the bank account on presents, I am always conscious of my finances at this time of year.

My home phone and Internet contract expired last month while I was in hospital, so I am a little behind. Normally I like to renegotiate contracts straight away, to make sure I am getting the best deal. And this month is no exception, I've made the move to another Internet provider today, who is going to give me the same amount of data usage, + greater home phone allowance for $30 cheaper than the old plan. Suh-weet.

But did you also know that sometimes you can renegotiate your plans early? If you are going to be staying with the same provider, they will often let you change/upgrade/re contract early. In this case, our mobile contract is not due to expire till February, but we can renegotiate up to 3 months early. Which is worth it, because there is a plan $10 cheaper on the site that matches our current data and call allowance which suits us so we have locked in for that now too.

So total savings each month for tonight's endeavours is $40, or $480 per year. It's always worth being right on top of your contract expiry's, because every month you do not look for the best deal for you, is another month of potentially higher costs.

There's also often added benefits to signing new contracts with a company such as new free phones, free months access, or other goodies. Things that can be sold on eBay, gifted, or at the very least add value to your life.

Use your down time over the Christmas period to evaluate your contracts. Gas, electricity, phones, Internet, insurances, loans, etc.

What will I do with that $480 this year? It's all part of my master plan to stay on maternity leave till February 2014. $480 is more than a weeks mortgage payment for me, and we are still short 16 weeks mortgage payments to get us to February 2014. So 1 down, 15 to go!

What could you be doing with the savings on your contracts? A holiday? A new TV? More money to invest in your home or life?

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