How To Lower Your Monthly Bills (the IWT Method)

#1 · May 31, 2023, 1:31 am

Today, I was curious to test out how much money I could save per month by implementing Ramit Sethi's recommendations from these two articles:

So far, I've been mostly unimpressed by Sethi's work. But, I had nothing to lose by trying this experiment (and only extra money saved to gain).

However, I did end up adjusting his scripts. For example, this one:

Ramit: “Hi, I was looking at my plan and it’s getting pretty expensive (if they feel like it's actually a pretty low amount compared to their other plans, they may write you off as a customer with not much value to give now and, therefore, a cutsomer they're OK with losing). Could you tell me what other plans you have that would save me money (now the "save me money" feels like it expands on the frame that you don't have much money to give them, and now they may have less of an incentive to try to accomodate you as best they can because it's not much of a loss for a "broke customer" to leave for a competitor)?”

Ali: “Hi, I was looking at my plan and I'd like to discuss some options to reduce my payment to better fit my budget (now it's not about "being cheap", it's about being financially responsible)."

By the end, I saved almost an additional $100 per month.

So, I wanted to leave this post as a recommendation for others in this community to try this experiment as well (if you feel it could be helpful for you). While I wouldn't recommend over-relying on the scripts, the strategies aren't bad, in my opinion.

Lucio Buffalmano, John Freeman and 4 other users have reacted to this post.

#2 · June 1, 2023, 11:55 am

Thank you for sharing this, Ali!

Keeping your expenses low maybe one of the most under-appreciated tools for financial well-being (which of course also overlaps with mental well-being, power, etc.).

For example, in my way of seeing things, I consider it nonsense that everyone has their own Internet connection when they could simply knock at their neighbor's doors, introduce themselves, and share the costs.

Ali Scarlett, John Freeman and Transitioned have reacted to this post.

Check the forum guidelines for effective communication.
---
Book a call for personalized & private feedback

#3 · June 1, 2023, 7:41 pm

Thanks Ali!

For example, in my way of seeing things, I consider it nonsense that everyone has their own Internet connection when they could simply knock at their neighbor's doors, introduce themselves, and share the costs.

Definitely! Never thought about this.

Lucio Buffalmano, Ali Scarlett and Transitioned have reacted to this post.