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Yahoo
6 days ago
- Business
- Yahoo
George Kamel: Lower Your Monthly Bills With These 3 Easy Steps
A recent report from the bill-pay service doxo found that American households put nearly $25,000 each year toward essential household expenses. These include various subscriptions like your internet, phone and cable services, which tend to come with ongoing price increases. Read Next: Learn More: According to money expert George Kamel, you can save on these costs without resorting to giving them up or switching providers. In a YouTube video, he used his experience negotiating with companies like AT&T to lay out a simple three-step strategy you can use to lower your monthly bills. Head to the provider's website to look for a support hotline or an online chat and decide which method you want to use. Kamel recommended talking to support in the early afternoons on weekdays since that's when you'll have a better chance of reaching a real person and not waiting too long on hold. Prepare before reaching out. Kamel said to have your latest bill with your account details and the monthly billed amount. You should also note any administrative or service fees that may be worth pointing out. Once you're ready, you can turn to a basic script. 'When a customer support agent picks up the phone or joins your chat, simply start out by saying that, while you're happy with your service, your monthly bill is getting too expensive, and ask if there's anything they can do about it,' he advised. Consider This: According to Kamel, you'll often need to escalate things to the retention department, which has the power to offer deals so that you'll stay with the company. Otherwise, you'll keep negotiating with the customer support agent and get a manager involved if needed. Kamel recommended bringing up promotions you've seen for new customers and better prices competitors have advertised for comparable services. When negotiating, be specific about the price difference and its importance in your decision. The Ramsey personality gave an example of how you might do this: 'Hey, I see this is being offered — the same internet plan for 12 bucks less per month. I can't ignore a deal that good. Can you match it or beat it?' If you land a deal you're happy with at this stage, you'll still need to continue to the third step to clarify some details and avoid potential problems later. But if the retention department or manager wouldn't give you a discount, you might still try negotiating free upgrades or fee waivers, or you can try the negotiation process again at another time. Kamel said another worker might have something you'll like better. He also suggested simply canceling with the provider if you're unhappy and haven't had success with negotiating. While canceling is more extreme, it can have an unexpected positive effect. 'A lot of these companies have win-back teams that offer even better deals a few days later,' Kamel said. 'So if you can cancel, it may be in your best interest to play a little hard to get.' Kamel mentioned some questions that you should ask about your new offer before you hang up or end the chat. For example, find out whether the price will go back up at a certain time and if the provider will be charging any extra fees. It's also important to ask for written confirmation of what the company is offering you. Kamel's negotiation script guide recommended getting an email or screenshot, along with confirmation that your account shows the changed rate. That way, you have proof in case the company later charges you a different price or claims there's no special offer. More From GOBankingRates 4 Affordable Car Brands You Won't Regret Buying in 2025 This article originally appeared on George Kamel: Lower Your Monthly Bills With These 3 Easy Steps Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
George Kamel: Lower Your Monthly Bills With These 3 Easy Steps
A recent report from the bill-pay service doxo found that American households put nearly $25,000 each year toward essential household expenses. These include various subscriptions like your internet, phone and cable services, which tend to come with ongoing price increases. Read Next: Learn More: According to money expert George Kamel, you can save on these costs without resorting to giving them up or switching providers. In a YouTube video, he used his experience negotiating with companies like AT&T to lay out a simple three-step strategy you can use to lower your monthly bills. Head to the provider's website to look for a support hotline or an online chat and decide which method you want to use. Kamel recommended talking to support in the early afternoons on weekdays since that's when you'll have a better chance of reaching a real person and not waiting too long on hold. Prepare before reaching out. Kamel said to have your latest bill with your account details and the monthly billed amount. You should also note any administrative or service fees that may be worth pointing out. Once you're ready, you can turn to a basic script. 'When a customer support agent picks up the phone or joins your chat, simply start out by saying that, while you're happy with your service, your monthly bill is getting too expensive, and ask if there's anything they can do about it,' he advised. Consider This: According to Kamel, you'll often need to escalate things to the retention department, which has the power to offer deals so that you'll stay with the company. Otherwise, you'll keep negotiating with the customer support agent and get a manager involved if needed. Kamel recommended bringing up promotions you've seen for new customers and better prices competitors have advertised for comparable services. When negotiating, be specific about the price difference and its importance in your decision. The Ramsey personality gave an example of how you might do this: 'Hey, I see this is being offered — the same internet plan for 12 bucks less per month. I can't ignore a deal that good. Can you match it or beat it?' If you land a deal you're happy with at this stage, you'll still need to continue to the third step to clarify some details and avoid potential problems later. But if the retention department or manager wouldn't give you a discount, you might still try negotiating free upgrades or fee waivers, or you can try the negotiation process again at another time. Kamel said another worker might have something you'll like better. He also suggested simply canceling with the provider if you're unhappy and haven't had success with negotiating. While canceling is more extreme, it can have an unexpected positive effect. 'A lot of these companies have win-back teams that offer even better deals a few days later,' Kamel said. 'So if you can cancel, it may be in your best interest to play a little hard to get.' Kamel mentioned some questions that you should ask about your new offer before you hang up or end the chat. For example, find out whether the price will go back up at a certain time and if the provider will be charging any extra fees. It's also important to ask for written confirmation of what the company is offering you. Kamel's negotiation script guide recommended getting an email or screenshot, along with confirmation that your account shows the changed rate. That way, you have proof in case the company later charges you a different price or claims there's no special offer. More From GOBankingRates Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on George Kamel: Lower Your Monthly Bills With These 3 Easy Steps
CNBC
27-05-2025
- Business
- CNBC
The most—and least—expensive U.S. states based on the median monthly costs of essential household bills
In May, bill pay service doxo released its 2025 Cost of Bills Index, which breaks down comparative household costs across the country. The report focused on the 13 most common household bill categories: To determine the ranking, doxo compared the median cost of the most common household bills across the United States. They used the number 100 to represent the national average in the index. Then, states were assigned a number either above or below 100 based on how they compared to the national average. doxo's index found that the average U.S. household spends $24,695 annually on the 13 essential household bills. The median mortgage is $1,775, while the median rent is $1,453. "We've got a different economic environment than we had two or three years ago, most acutely in the categories that impact consumer debt because interest rates are different," Steve Shivers, Founder and CEO at doxo, tells CNBC Make It. "The cost of mobility is much higher. People have to be a lot more careful and thoughtful about discretionary spending. The debt categories have shifted so dramatically that starting a new significant purchase is something that most consumers, especially right now, with a lot more uncertainty, are going to be much more conservative about," he adds. "That obviously has broader economic implications because if consumer spending slows, it ripples through a lot of things." California dethroned Hawaii as the most expensive state based on the cost of monthly household bills. Residents spend $2,854 — 39% above the national average. The doxo report found California's household bills are $9,588 per year higher than the U.S. median. In the Golden State, household bills account for 33% of California residents' annual household income of $104,029. "California is sort of a double-edged sword. You've got the high housing costs, and on top of that, every single category of bills in California is higher than the national median," Shivers says. For the third year in a row, West Virginia ranked as the least expensive state based on monthly costs. The average cost of bills in West Virginia is $1,149 per month — 44% lower than the U.S. median. The report also found that household bills make up 23% of the annual household income of $59,859 in the state. "West Virginia is remarkable because the cost of bills is still lower than any other state and it's no surprise. It's a state where the cost of living is lower but its economy is still struggling. It suffers from trying to create diversity beyond some traditional industries," Shivers says. "You don't want to move into a state and just sort of exploit the fact that it has a living wage. You want to move into a state where you can say we're going to provide new jobs and where we know we can be confident that our employees can have a living wage and a reasonable quality of life," he adds. The Mountain State also ranked as the cheapest state to live in for 2024, according to CNBC's America's Top States for Business Study. ,
Yahoo
28-04-2025
- Business
- Yahoo
Americans Spend Nearly $25k A Year On Household Bills — Here's How They Break Down
One of the most important parts of personal finance is setting a monthly budget and sticking to it. Ideally, you'll budget in such a way that you can put 15% to 20% of your income toward savings after all the bills are paid. Read Next: Find Out: That's not always easy when the bills suck up a bigger percentage of your income than they should. Unfortunately, this is a problem for many Americans. Median earnings for full-time workers in the U.S. are $1,194 a week or $62,088 a year, according to the latest data from the U.S. Bureau of Labor Statistics. That equals $5,174 a month. Meanwhile, a new report from bill-pay service doxo found that the typical American spends $24,695 a year or on household bills, or about $2,058 a month. Based on the BLS numbers, household bills take up about 40% of the typical monthly income — and that doesn't even include purchases for food, groceries and clothing. For You: For its 2025 U.S. Household Bill Pay Report, released on April 3, doxo analyzed tens of millions of bill payments across 97% of U.S. zip codes and all U.S. income and regional demographic segments. Researchers looked at household bills across 13 expense categories to determine the median bill in each. Here are the typical household expenses across all 13 categories, according to the doxo study (keep in mind that households will have either a mortgage payment or rent payment, but not both): Mortgage: $1,775 per month Rent: $1,453 Auto loan: $470 Cable & internet: $121 Electricity: $120 Auto insurance: $105 Mobile phone: $96 Water & sewer: $86 Alarm & security: $74 Health insurance (consumer direct portion): $72 Gas: $71 Waste/recycling: $70 Life insurance: $60 These figures differ from other studies of household bills, mainly because doxo used median rather than average costs and did not include costs for food, entertainment and other items. A Motley Fool analysis of BLS data pegged the average household's monthly expenses at $6,440. But that total includes food and entertainment costs as well as miscellaneous expenses like transportation, apparel, education and personal care products. Where you live will also have a big impact on your household bills. For example, doxo found that mortgage payments are highest in California, New Jersey, Hawaii, Massachusetts and New York, respectively. Rents are highest in Hawaii, California, Massachusetts, New York and Washington. West Virginia is the most affordable state for both mortgages ($1,019/month) and rent ($870/month). Here are other regional highlights from the report: Median auto loan payments are highest in Nevada ($559/month) and Hawaii ($520/month) and lowest in Vermont ($395/month) and West Virginia ($165/month). Electric bills are highest in Hawaii ($197/month) and Rhode Island ($184/month) and lowest in New Mexico ($89) and South Dakota ($79/month). Cable and internet bills are highest in Delaware ($157/month) and Rhode Island and lowest in Arkansas ($99/month) and Florida ($96/month). More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most How Far $750K Plus Social Security Goes in Retirement in Every US Region How To Get the Most Value From Your Costco Membership in 2025 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Americans Spend Nearly $25k A Year On Household Bills — Here's How They Break Down Sign in to access your portfolio
