Justsaver

Today, I renewed my cable internet contract so I could get $19.99/month from Comcast’s 6Mbps download 1Mbps upload service for 6 months. For the past 6 months that I have used Comcast, the internet hasn’t been offline so I can’t complain. I’ve never used their customer service, but I’ve heard good things from friends. So all in all Comcast isn’t bad. If I didn’t renew my contract with Comcast, my monthly rate would have jumped to over $45/month. Crazy.

No one would ever pay regular price when contract prices are so much cheaper right? Wrong.

Millions of people get ripped off by Comcast, Time Warner, AT&T, etc by allowing it to happen. They just don’t pay attention to their contract ending and when that 7th/13th/25th month comes rolling around, they get a nice big surprise in the mail. Many people allow the new rate to go on, thinking that they cannot do anything about it. So they keep paying the new rates until a friend, family member, or commercial tell them they CAN do something about it. Even worse, that day never comes for some people and the non-contract rate just keeping going and perhaps rise higher. No biggie, it’s just $25 extra per month, I can make that back at work easy. Hold on that’s not the only money leak.

How many services do we use that have a extremely discounted contract price? Internet, TV (Cable, Dish, U-Verse, etc), Wireless Phone Plan (the bonus you get for signing a new contract), and whatever other services that you personally use.

For the TV contract, pay attention to when the contract will expire just as you would do for the internet connection. When it’s time for a new contract, find out what the latest and greatest deal is and get in on it. If you do forget, (happens to the best of us) you’ll get a lovely reminder called Bill in your mailbox and you can do it then.

Your Wireless Phone Plan is especially easy to forget about even for smart shoppers like you and I. The bonus for signing a new wireless plan comes when you sign the contract and is not a decrease in monthly price. So there is no reminder in the mail as the other services ‘offer’. Not being on a wireless contract is not about how much money you lose, it’s about how much money you don’t gain.

Your wireless phone bill will not increase when your contract expires, so you have to keep an eye on when the contract expires on order to take advanage of slick free upgrades to new phones or if that’s not your style, some wireless stores will even give you Cash Back for signing up with them. The Cash Back part is basically commission sharing with you from what they receive.

The advice is obvious; keep a record of when you start a contract and when your contract will end. Call the company that you want to renew with a few days eariler to ensure that you will not have any days off contract and lose money. I recommend calling them and signing up 5 business days in advance. Many companies can set the date the new contract will start so you do not actually have to do anything on the day the old contract ends. (in case you are busy that day) If they say the new contract offer is only new customers and not existing customers, threaten to cancel and they will bend your way in a heartbeat. That’s why they offer contracts in the first place, they’re scared that you will run off to their competitor who’s offering the exact same price. The fatwallet forums have many ideas on how to go about doing this.

About Bundling Services

Is bundling services (internet, TV, home phone) going to save you money? Maybe. Often the advanage in bundling is not a new lower price, but the perks you get when signing up. For example, Comcast offered
a free Nintendo Wii for signing up for their Triple Play bundle for 2 years. I found that for me, signing up for bundled services cost 30% more than what I was playing with all the services seperate. If someone was paying a regular rate for all those services in the bundle, they would save 20% by using the bundle.

Bottom line: Keep track of your contract start/end dates, always be on contract for these services, and save your money.

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