Most of us have grown up learning that loyalty is rewarded. Yet, when it comes to household utilities, it’s quite the opposite. From gas and electricity providers to other essential services such as insurance and internet, you could save hundreds, even thousands each year when you switch to a new provider.
So, why then are so many of us reluctant to make the switch?
For the most part, change can seem like a big inconvenience. Plus, many of us are under the misconception that all providers are pretty similar and that switching would only incur additional administration charges with cancellation fees and new connection costs. All that time and hassle probably isn’t worth it.
But actually, it is worth it.
Those administration charges could seem like loose change compared to your potential savings. For example, a few moments of your time changing energy providers could save you as much as $1800 each year*!
Do we have your attention now?
It really is worth asking for a better deal
In the last decade, household utility rates have risen substantially. In the case of electricity, the cost has increased as much as 63%^!
Providers spruik big savings to attract new business but then don’t look after their long-term customers – introductory offers can expire and rates increase over time.
These big companies are not earning your loyalty, they’re simply relying on the ‘set and forget’ mindset of consumers to retain business.
It’s time to call them out.
We recommend shopping around or pushing your current provider to improve your rates. Make them work for your business. If your loyalty isn’t recognised or rewarded, it’s time to question their value to you.
Australia’s leading consumer advocacy group, Choice, recommends asking your current provider the following questions^:
- What kind of incentives or deal can you offer me to stay with your company?
- Is the incentive or discount conditional, like paying on time?
- Is the incentive for the life of the contract or does it end after a period of time? If so, what happens then?
- Does the discount incentive cover the whole bill or just the electricity usage portion?
- Which plan has the lowest tariff and usage rates?
- Are there exit fees on my plan or the plan you are offering me?
There are a lot of savings to be made, so it really does pay to regularly review the rates you’re paying and compare the other options available.
So, what are you waiting for?
Just imagine what you could do with those savings
If you’re a homeowner, saving on your utility and essential home services can make a big difference to your home loan.
Actually, let’s rephrase that. It can make a HUGE difference!
By using the savings to make extra mortgage payments each month, you could save thousands on interest and shave years off the life of your loan.
For example, simply paying an extra $200 per month on a $400K home loan could reduce a 30-year loan term by nearly 5 years – not to mention saving around $54,000 on interest charges.
Now that’s some serious reward for very little effort. And the sooner you make the switch, the more you’ll save.
The Neue Black Concierge is here to help
Here at Neue Black, we understand that life can get busy, and making changes to things like energy providers can easily get left off the to-do list.
It’s why we introduced our Neue Black Concierge Service. We do all the hard work for you to compare and connect the very best utilities and essential service providers to suit you. So, all that’s left for you to do is sit back and enjoy the savings.
Contact the Neue Black team today to discover how much you could save on your household bills and give your savings a head start for 2019.