Stick To The Script: Bill Negotiation Hacks You Need To Know

With scrolling social media, I’m noticing that more and more people are seeing hikes in their bills. Utilities, Auto Insurance, Credit Card Bills, Cable Bills, and beyond! Does this sound like you? Shoot, I know it’s me. One of the things that I’ve been doing for years is negotiating – everything, everything! I talked about how I got my auto insurance down $90 per month on Twitter a while ago. I check for a better rate each time, I’m loyal to my wallet, not theirs. 

One of the things that helped me throughout the years is “Calling those people”. Meaning, calling them asking questions, and getting alignment on making sure if there’s a chance to get my bills lowered, that I grasp it. A way to do this is via Money Scripts. Money scripts are lines you can use to make a change in negotiating your bills (credit cards, cable, cell phone, hospital bills, etc) to see a change in how those bills change up in your budget. Imagine them like little programs running in the background of your mind. In this post, I wanted to share some of the prompts (no ChapGPT) that you can use in case you want to negotiate your bills or money moves. But before we get into the different scripts, here are some high-level things to keep in mind: 

Gather Information and Do Your Research:

• Review your bill: This might seem obvious, but scrutinize your bill for errors or duplicate charges. 

• Understand your rights: Familiarize yourself with any relevant laws or regulations that might impact your negotiation (e.g., early termination fees for services).

• Research market rates: For services like cable or internet, find out what competitors offer in your area. For medical bills, research average costs for procedures in your area using tools like Healthcare Bluebook or FAIR Health.

• Know your budget and goals: Determine how much you're realistically willing to pay and what your ideal outcome is (lower rate, lower your interest rate, payment plan, etc.)

Negotiation can be a powerful tool for saving money on bills that fit into your budget. Here's how it can work:

• Finding room for savings: Many companies, especially those with recurring subscriptions, build in wiggle room for negotiation. This could be cable and internet providers, phone plans, gym memberships, and even some medical bills.

• Renegotiating vs. Cancelling: Sometimes, simply mentioning you're considering canceling a service can prompt the company to offer a better deal to keep your business. However, be prepared to actually cancel if they can't meet your needs.

Prepare Your Negotiation Strategy:

• Develop your talking points: Craft clear and concise reasons why you deserve a lower rate. Highlight your loyalty, good payment history, or any other relevant factors. I’m going to give you scripts, so pick which one fits your scenario or comes close

• Anticipate counter-offers: Be prepared for the company's response and have alternative solutions in mind. Be nice and nasty if you have to, but don’t be shy to pull their slip

• Set a walk-away point: Determine the absolute highest price you're willing to pay before moving on.

Organize your Documentation:

• Gather relevant documents: This might include copies of your bill, proof of on-time payments, evidence of research on market rates, etc.

• Take notes: Keep track of important dates, names of people you speak with, and what was discussed during each communication. Keep it in a notebook if you need to - shoot, you do! 

Additional Tips:

• Be polite and professional: Negotiation is a conversation, not a confrontation.

• Maintain a positive attitude: Be persistent but calm during your negotiation.

• Consider the timing: Negotiate before a new term begins or a bill is due (if possible).

• Keep your dates: If you have a promo that ends on a specific date, make sure that you put a reminder in your calendar at least 1 week before that deal goes away, call them people and ask if it could be extended or if there’s a better one out there. Also, this gives you a heads-up if your budget will be changing when it ends!

By taking these steps before initiating a negotiation, you'll be well-equipped to advocate for yourself and potentially secure a better deal on your bills. Now, let’s stick to the script! If these scripts do work - amazing. If not as you hope, take the insights they give you to see what you can do to press them again in a couple of months. Think of it like courting.

General Template:

• “Hi, my name is [Your Name] and I've been a customer with [Company Name] for [Number] years.  I'm calling today because I'm reviewing my bill for [Service] (e.g., auto insurance, cable) and I'd like to discuss ways to potentially lower my monthly cost.”

Highlighting Loyalty and Value (Optional):

• "As a loyal customer with a good payment history, I've been very happy with your service. However, [briefly explain your reason for negotiation, e.g., recent rate increase, change in needs]."

Asking About Discounts (Optional):

• "I noticed you offer a discount for [mention a specific discount you found, e.g., multi-policy, safety features]. Would I qualify for that?"

• "Are there any other discounts or promotions available that could help lower my monthly payment?

  Negotiation Leverage (Optional):

• "I've received quotes from other companies offering similar coverage for a lower rate. Would you be willing to consider matching their offer?" (Be prepared to provide details if requested)

• "I'm open to exploring different options to keep my business with [Company Name]. Would you be flexible on the current rate or perhaps offer a different plan that might be a better fit?"

  Closing and Next Steps:

• "Thank you for your time and consideration. What would be the next steps to move forward with this?"

• "If there aren't any immediate options available, could you let me know when there might be potential for a rate review in the future?"

  Auto Insurance:

• "I've maintained a clean driving record for the past [number] years and my car has several safety features. Do these qualify for any additional discounts?"

• “I noticed that my premium increased this year, could you do a quote to see if I’m getting the best rate” // also use your declaration page to get quotes from other insurers. 

• Multi-Policy Discount: "I'm currently considering bundling my auto and homeowners insurance with your company. Do you offer any multi-policy discounts?"

• Loyalty Discount: "I've been a loyal customer with [insurance company] for [number] years. Do you offer any discounts for long-term customers?"

• Safety Features: "My car has several safety features like airbags, anti-lock brakes, and a security system. Do these qualify for any discounts?" (For auto insurance)

• Increased Deductible: "I'm comfortable raising my deductible to [higher amount]. Would that lower my monthly premium?"

• Shop Around Comparison: "I've received quotes from other insurance companies offering similar coverage for a lower premium. Would you be willing to match their offer?" (Be prepared to provide details)

Cable Bill/Internet:

• "I've been a customer for [number] years, but my current package doesn't quite fit my needs or budget anymore. Are there any options to adjust my plan or potentially lower the monthly cost?" Also, ask about any new plans/promos that would save you more. 

Credit Card:

• "I've been a cardholder for [number] years and have a history of on-time payments. Unfortunately, the current interest rate makes it difficult to pay down the balance quickly. Would you be open to considering a lower interest rate?" Also bring up any fees (late fees got lower, btw) that they could delete. 

Cell Phone:

Highlighting Your Loyalty

• "Hi, I've been a loyal customer with [Company Name] for [Number] years. I'm really happy with the service, but I'm noticing my bill has been [Higher/Features I Don't Use] lately. Are there any plans available that might be a better fit for my needs?"

Mentioning a Competitor's Offer

• "I've been doing some research and I see [Competitor Company] is offering a plan with similar features for $[Amount Less] per month. I'd prefer to stay with [Company Name] if possible, but is there anything you can offer to keep my business?"

Focusing on Specific Features

• "I barely use [Feature] on my current plan. Are there any plans with lower data limits or that don't include [Feature] that might be a cheaper option?"

Rental Insurance:

• Security Features: "My apartment building has security features like security cameras and controlled access. Do these qualify for any discounts?"

• Claims History: "I haven't filed any claims on my previous rental insurance policies. Does that impact my current premium?"

Mortgage Insurance Prompts (for Private Mortgage Insurance - PMI):

• Increased Equity: "Since purchasing the home, the property value has increased significantly. Can I get a re-evaluation to potentially remove PMI?"

• On-Time Payments: "I've consistently made all my mortgage payments on time. Does this qualify me for an earlier removal of PMI?"

Rental Renewal: 

Remember to contact the property manager to get insight on what they can do against the renewal if they have any negotiation gaps. Yes, you could be cool with your fav leasing consultant, but the property manager will be your key to paying less (with probably a bit of a push from a good employee). Also, do your research on the logistics of your apartment/townhouse against the market - properties around you or similar pockets around town.

Initiating the Conversation:

• "Thank you for offering the renewal lease for [apartment number]. I've been happy living here and would like to renew, but the proposed rent increase to [new rent] is a bit outside my budget. Would you be open to discussing a more manageable rate?"

• "I've noticed similar apartments in the building/neighborhood renting for [comparable rent]. Given my on-time rent payments and history of taking good care of the property, could we negotiate a renewal rent closer to that range?"

Highlighting Your Value as a Tenant:

• "As a reliable tenant, I've always paid rent on time and maintained the apartment in excellent condition throughout my lease. Would you consider a slightly lower rent in recognition of this?"

• "I've been a quiet and responsible tenant who rarely causes any disruptions. Would my track record be a factor in discussing the renewal rent?"

Offering Alternatives:

• "While a lower rent would be ideal, I understand market fluctuations. Would you be open to a longer lease term (e.g., 18 months) in exchange for a more stable rent price?"

• "Instead of a straight rent reduction, could I pre-pay [number] months of rent upfront to secure a discount on the total lease amount?"

Finding Common Ground:

• "I understand if my initial offer of [desired rent] isn't feasible. Perhaps a compromise rent of [slightly lower offer] would be possible?"

• "While I'm open to negotiation on rent, finding a comfortable and familiar apartment is important. Is there any wiggle room on the price, or are there other options we can discuss that might benefit both of us?"

Hospital Bills:

• Request an itemized bill: This breaks down all charges for procedures, medications, and services.

• Review the bill carefully. Look for errors or duplicate charges. Script: "I received my bill for [amount] for my recent stay/procedure. There are a few changes I'd like to clarify..."

• Research average costs for procedures in your area using tools like Healthcare Bluebook or FAIR Health.

• Errors or duplicates: Script: "I noticed a charge for [service/medication] that I don't believe I received. Can you please clarify this?"

• Questioning charges:

• Script: "The charge for [service] seems higher than what I expected. The average cost in my area appears to be around [amount]." (Be prepared to share your research)

• Financial hardship:

• Script 1: "Due to [brief explanation - job loss, high medical bills], it's difficult for me to afford the full amount. Are there any financial assistance programs available?"

• Script 2: "Can you explain the charity care program and if I might qualify?" (For non-profit hospitals)

• Payment options: 

• "If I can pay the bill in full upfront, is there any discount available?"

• "I can manage a monthly payment of [amount]. Would you consider a payment plan?"

• Hardship/Financial Assistance Programs: If you are unemployed or going through a financial hardship, check to see if your hospital system can consider you for their hardship programs. I have used them in the past, and highly suggest them to anyone needing help. Just simply Google “Financial Hardship AND ________ (the name of your hospital system)”. Then walk through the requirements (mostly income/household limits) — call them and if you have to mail anything in, make sure you do certified mail.

Student Loan and Auto Refinancing -

Talk them them nice:

Hi, my name is [Your Name] and I'm calling to inquire about refinancing my [student loans/auto loan]. I'm currently paying [current interest rate]% interest and I'm interested in exploring options to potentially lower my monthly payment or secure a better interest rate.

Highlighting Your Situation:

For Student Loans: "I've graduated from [University Name] with a degree in [Your Degree] and I've been consistently making my loan payments on time for the past [Number] years. However, with my current interest rate, it's challenging to pay down the principal quickly."

Inquiry About Rates:

• "What are the current interest rates you offer for refinancing [student loans/auto loans] with a good credit score and history of on-time payments?"

• "Are there any specific requirements or qualifications needed to refinance with your company?"

For Auto Loans: "My current car loan is for a [Year] [Make] [Model] with [Mileage] miles. I've maintained the vehicle in excellent condition and have a clean driving record. I was calling to see if I can get the interest rate on my auto loan with you lowered. This would allow me to maintain a great history/relationship with you along with pay down the debt within reason of my budget.”

Negotiation Leverage (Optional):

• "I've been pre-approved for refinancing with another lender at [competitor's interest rate]%. Would you be able to offer a competitive rate to retain my business?" (Be prepared to provide details if requested)

Next Steps:

• "Thank you for your time and information. If refinancing with your company seems like a good fit, what are the next steps to move forward with the application process?"

• "Would it be possible to receive a quote or estimate for refinancing based on my current loan details?"

After the Initial Offer [ of any negitation] :

• If the first offer isn't ideal, politely ask if there are any other options or retention deals available.

• Mention you might have to consider switching providers if a significant cost reduction isn't possible (if possible).

Negotiating bills can feel intimidating, but with a little preparation and the right approach, you can save money and gain peace of mind. Remember, the key is to be polite, persistent, and well-informed. Don't be afraid to ask questions and advocate for yourself. By following the tips and prompts in this blog post, you'll be well-equipped to tackle your next bill negotiation and potentially free up some extra cash in your budget. Let me know if you need any additional tips or scripts to get your savings under control. Join my newsletter for even more tips like this!