Every year many people try to optimize their budget by reducing their fixed costs. Whether it’s about telephony, insurance or even banking services, there are several tips on how to pay less without sacrificing quality of service. Before you sign a contract or renegotiate an existing contract, it is important to carefully determine your actual needs and find out about the savings options. Here are some tips to achieve this.
Telephone subscription: Look elsewhere, it’s worth it!
“The telephony market is ideal for changing operators, as 80% of offers include an increase after the first twelve months. It is therefore in your interest to always be a “new customer,” explains Marianne Picard, Head of Telecom Content at Selectra. Especially since storing your number has been simplified. When you talk to your regular provider, don’t expect lower rates than new customers. Another option: ask him for new options for six months.
Good to know. Thanks to the Purchasing Power Act of 2023, if you leave your provider from the 13th month onwards, there will be no cancellation fees (even with a 24-month commitment). If your contract included the purchase of a mobile phone, this will be reduced to a maximum of 20% of the remaining monthly installments after one year.
Car insurance: It’s worth asking about tailor-made products
Start by assessing your needs. “We suggest discussing with your advisor any change in the situation that could have an impact: the construction of a garage, the elimination of the second driver, a change in the distance to work, etc.,” explains Sébastien Delhaise, director of personal insurance at Groupama .
You can also opt for a higher deductible in the event of an accident or switch from the “all risks” to the “liability” formula, which is usually reserved for older vehicles. But beware ! “With some brokers, in the event of personal injury, the third party covers others, but not the policyholders responsible for the accident,” explains Adeline Fortesa, sales and product director at LeLynx.fr.
Of interest to those who drive between 4,000 and 6,000 kilometers per year, mileage insurance is based on a price calculated based on the distance traveled, usually recorded using a tracker. For “small drivers” there are also classic contracts at reduced prices. Bundling your auto and home insurance often reduces the bill. Ultimately, loyalty can pay off: agents offer a virtual “pot” that is increased depending on seniority and behavior.
Good to know. The Hamon Law of 2015 allows you to cancel your insurance contract without penalties after one year of membership, even if it is tacitly renewed.
Bank fees, do your billing!
According to the website “La Finance pour tous”, our scope of action concerns the bundled service offerings (so-called “packages”) that we subscribe to when opening an account. Although this package is generally more beneficial than any individually billed service, some of it is unnecessary. Do you really need a subscription to your bank’s magazine, a paid monthly savings service, or even death insurance? It may be worth calculating whether the options you are using individually cost less than the bouquet. Also be careful with high-value bank cards that don’t always fit your lifestyle. Also be on the lookout for “misplaced” withdrawals (outside your bank network), which often incur a fee.
Bank loans: Playing with the guarantee is smart
On paper everything seems simple. By renegotiating your loan, you can hope to lower the interest rate and therefore the final cost. In fact, the period is not very favorable since interest rates are expected to rise and not fall immediately. In addition, it is better to come forward in the first few years when the amount owed is still significant. “Every renegotiation involves costs. It will take time to recoup them and there is no point in doing this process too late. In the event of a repurchase of the loan, the difference between the current interest rate and the new interest rate must be at least 0.7 points, so that the profit obtained is sufficient to cover the costs and compensation for early repayment,” warn Romain Bouriel and Édouard Munet from the Prudential Control and Resolution Authority (ACPR). Experts also urge the same common sense if you decide to repurchase a loan from another bank (will the costs be covered?) or if you combine your loans into one (if the monthly repayment is lower, it will be the same in the end). due). to extend the loan term?). Beware of fake brokers offering to buy back our loans, of which there are many on the Internet! Since the start of the year, the ACPR has added 653 websites and email addresses to its “blacklist” of bogus credit and savings account offers.
Good to know. In certain cases, it is more interesting to bet on changing the insurance associated with a loan (we are talking about borrower insurers), since there are large price differences from institution to institution. A bank cannot raise an objection as long as the new contract has a guarantee level equivalent to the current contract.
Energies: Relying on comparators is worth it
When it comes to energy, you cannot ask for a reduction in the price of the kilowatt hour or the subscription: the prices are fixed. “The important thing is to know your needs (household consumption, distribution by time of day, desire for green energy, etc.) and find the supplier that best meets those needs. Here,” explains Sylvain Le Falher , co-founder of Hello Watt. The switch is very easy as there is no obligation: the previous contract is canceled automatically when you change provider.
Good to know. Comparators analyze the different offers on the market and identify the offers that best suit your needs, in particular by displaying estimates of their annual costs. The subscription can be made through comparison companies, some of which offer prices negotiated with suppliers.