Martin Lewis’ Money Saving Expert team has also warned people of phrases to avoid
When we receive a letter saying a contract for a household bill is ending, many providers rely on us doing nothing – even if prices rise sharply. Whether or not the cost-of-living squeeze has hit your household hard, nobody welcomes higher bills, and for those struggling, every single penny genuinely matters.
One effective strategy to dodge price hikes and trim costs is negotiation – something Martin Lewis consistently champions as worthwhile.
The Money Saving Expert (MSE) founder created his platform specifically to assist people in navigating financial challenges – and in one of their comprehensive guides, the website’s financial experts have compiled a list of powerful phrases that can help dramatically reduce your broadband and line rental costs. These tactics can prove equally effective for other household bills as well.
Once you are through to the retentions department. You should always be polite and never rude as anger won’t get you anywhere. Companies value loyal customers and this is what MSE are calling your “powerhouse weapon”.
The experts explain that when approaching the end of your contract, or already beyond it, informing the company of your intention to switch providers should trigger the ‘why are you leaving’ discussion. According to MSE, the retentions department represents the “Holy Grail of haggling” as these staff members possess the authority to offer substantial discounts, reports Bristol Live.
So what phrases do I need to use?
The money experts say that if you are not happy with the small discounts you are being offered, you can use phrases which could lead to further bill slashing – and maybe even added bonuses.
They recommend trying:
- ‘I’ve worked out my budget, and my absolute max is £[insert amount here] a month…’
- ‘[BT/Sky/Virgin Media] can do it for less…’
- ‘I need to think about it…’
- ‘I think my other half/housemate/horse will go bonkers if I agree to pay that…’
- ‘It’s still a lot of money…’
- ‘Is that the very best you can do?’
Never do this…
MSE warns against accepting the initial offer presented to you. The likelihood is that it won’t be their most competitive deal.
They also urge consumers not to buckle under pressure. They point out that sales staff may try to push you towards accepting by insisting the offer is only valid for a ‘limited time only’.
However, don’t cave in and agree to any price or package until you’re completely satisfied it suits your needs. You can read more about broadband haggling on the moneysavingexpert.com website here.