With the cost-of-living soaring, looking at all aspects of your life to see if you can save money is essential. And whilst our focus so often falls on our most major outgoings, such as our rent or mortgage, weekly grocery shop, and transport costs, there are also big savings to me made in our various monthly contracts.
Today, we’re considering how to save money on your next broadband and TV deal. Let’s dive in…
Be Prepared To Switch Providers
An awful lot of us sign a contract with a provider and never switch. Research carried out by Broadband Genie shows that people who do not switch once their broadband contract ends pay a loyalty penalty of £113 a year and carry on doing so for every year they stay.
But that’s not all; according to recent research carried out by the consumer organisation Which, households that are prepared to switch TV providers can save up to 50%. This is because normally within 3 or 4 years, the cost of the TV service will have doubled. Yet, those same providers will happily sign up a new customer at a far lower rate. Those that switch typically save between £10 and £30 a month.
Switching Does Not Have To Mean A Worse Service
Despite these savings, a lot of people are still reluctant to switch. Understandably, they assume that if they are going to be paying less, they will get less. In reality, this is rarely the case.
It is quite easy to find cheaper broadband deals that offer you the same speeds as the ones you are getting now, especially in areas where providers use the same infrastructure. Most broadband companies offer low-cost deals to attract new customers. So, when you switch you may well be getting a premium service at a discount.
The same is true with TV providers. To attract new customers, they put together attractive packages that include the most popular channels. In some cases, you will end up getting more choice than you do with your current deal, while also saving money.
There is no longer any need to stick with Sky because you like their sports channels. Many of them are now available through Virgin Media. You can also get BT Sports with TalkTalk and Sky Atlantic is available from BT.
But what, how and when you switch is important, too…
Review What You Need
Before you renew your contract, sit down to review what you need. If the kids have left home and are no longer gaming at all hours of the day, you may not need the fastest broadband connection anymore.
The same applies to TV channels. If there are some you no longer watch, save money by buying a smaller package. In some cases, it might be better to switch to Freeview and maybe buy Amazon Prime to get access to their media streaming service. If you order enough from the site, the money you save on postage means that you are effectively getting the streamed content for nothing.
Start Shopping Around Early
Set up a calendar reminder to send you a message a few weeks before your current package is due to expire. This will give you plenty of time to shop around to find the best deal. If you use a comparison site, it won’t take long to identify the options that fit your needs. Make a note of the prices.
Ring Your Current Provider
Now that you have a clear idea of what is on offer you can ring your current provider to see whether they will match the lowest deal. Many of them will do so, rather than lose you as a customer. Use this guide to prepare yourself for the conversation. Following the advice it contains will greatly increase your chances of success.
If they do agree to match or beat the best deal that you have found, be sure to get it in writing. Check what they send you to make sure that you have not missed anything. For example, an activation fee or the fact that the new deal only lasts a few months instead of the year the alternative provider you have found is offering.
Scrutinise The Terms & Conditions Carefully
Should you decide to switch from your current provider you will need to research the new company you are considering using carefully. Read the reviews, speak to people you know who use them and read the terms and conditions before signing anything.
Lastly, set up a new alert in your calendar to remind you to shop around when your new broadband and TV contracts are due for renewal.
Next, let’s turn our attention to our phones and their adjacent contracts. Here are 10 IDEAL questions to get you the best deal on your next mobile phone contract. Give us a call when you’ve landed a bargain!