- Current contracts take a closer look at
- Insurance is one expense trap
- Check phone, smartphone and internet contracts
- Subscriptions and memberships are not always necessary
- At financial institutions Check fees and conditions
Anyone who regularly checks current contracts, checks current insurance policies and compares current rates for internet and telephone can save money. The NRW Consumer Advice Center provides tips on how to effectively reduce operating costs.
Take a closer look at current contracts and insurances
The first step is to take a closer look at existing contracts, advises the consumer center NRW. It is often possible to switch to cheaper rates, for example for insurance or mobile phone contracts. Many contracts are even redundant and can be terminated within the contractually agreed deadline. It eases expenses.
Another expense trap is insurances. The following applies here: “As much as necessary, as little as possible,” advises the Consumer Center. Policies that only cover minor damages are often redundant. For a standard vacation is Luggage insurance For example, often not necessary, as the loss of a suitcase can usually be easily replaced. Mobile phone insurance usually has many loopholes and pitfalls. You can usually save yourself this hollow protection in the truest sense of the word. Common is also Glass and death insurance indispensable. Additional device insurance for bicycles, laptops or glasses only worth very expensive purchases. Such with important insurance companies Personal liability or household insurance There are significant price differences, so a price comparison is worth it. Modern policies often provide better protection. Switching to annual payment can also save you money.
In addition, you should Check current contracts for phone, smartphone and internet carefully. These are indispensable, but you can also save money here. First of all, you should identify actual needs. How many minutes are you on the phone? How much data do you use per month? If you know what you need, you can do it too Compare prices from different providers better. Product information sheets that retailers must provide on request help with this. To expiry of the minimum contract period is any telecommunications contract that is not active, for example through one tariff change or a new smartphone is renewed, with one period of one month can be canceled. The change is therefore possible faster than you think. Porting your phone number is free regardless of provider.
Pay attention to the fees for memberships and banks and check the legal situation
Do you have subscriptions or memberships e.g. Magazines, streaming services or a gym, then you should try them too. These are often particularly cheap or even free for the first few months, but over time, high costs can arise. In particular, a long minimum contract period of up to two years is often a cost trap in difficult economic times. Some contracts are automatically renewed for another year if you do not cancel in good time. Consumer Advice Advice: Check existing contracts, prioritize them and note the notice periods to terminate unnecessary memberships and subscriptions in good time.
Financial institutions have very different pricing models and fees for a current account or credit card use. Some banks charge fixed rates for account management, others charge a base price plus costs for individual booking processes. Free account management is also still offered. Some banks also offer special conditions for students, interns, retirees or union members. A comparison of different banks can therefore be useful in reducing operating costs. You can usually terminate current accounts at any time and without notice. There are no fees for closing the account. Particular care is needed with loans: the installments and the extra costs burden the budget. You also do not have to use up the overdraft, because here double-digit interest must be paid. In case of acute and major financial problems, debt counseling should be sought in good time.
Rising costs for providers mean that prices in current contracts are rising. However, this is not easily possible. Because once a contract has been entered into at a certain price, which must be paid regularly, the contract partner cannot unilaterally change it. It is different if the contract contains one price regulation clause agreed on which the provider bases its price increase. Such clauses are usually found in small print, but are subject to strict requirements. In many cases, they are ineffective, so providers can not refer to them. So it’s worth a closer look.