“How to Save Money on Your Internet Service: A Comprehensive Guide”

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How to Save Money on Your Internet Service

The average American spends $79 monthly on wireless internet and $72 on wired internet, according to J.D. Power’s October 2023 data. This amounts to over $860 annually, a significant expense for most U.S. households. Given this substantial cost, how can you reduce your internet service bill? Here are six strategies to help you save money on your internet service.

1. Shop Around

Just as you would when purchasing a car or home insurance, compare prices, speeds, and contract terms when selecting a new internet service provider. This will give you a clear idea of the costs and features available to you.

2. Examine Your Bill

Review your internet service bill to identify potential savings:

• Overage fees: These charges apply when you exceed your data limit. Switching to a different plan may help you avoid these fees, which are typically around $10 for every 50 gigabytes over your limit.
• Service level: If you’re paying for more service than you need, consider downgrading to a cheaper plan. Reducing your internet speed could lower your monthly bill by up to $25.

3. Negotiate Your Bill

Contact your internet service provider to discuss lowering your bill. This tactic is most effective near the end of your contract when you have more bargaining power. Research competitors’ prices and promotions to use as leverage. Be prepared to spend time on the phone and remain courteous while negotiating. If you prefer not to negotiate yourself, consider using a service like Experian BillFixer™.

4. Check Into Discounts

Many internet service providers offer discounts. For example, Verizon provides discounts for teachers, nurses, and active-duty military members, while Xfinity offers a $10 monthly discount for autopay or online payments. Bundling services, such as internet and cellphone, can also lead to savings.

5. Use Your Own Equipment

Instead of renting a modem and router from your provider, consider purchasing your own. A basic modem costs around $50, and a suitable router ranges from $100 to $150. Alternatively, a modem-router combo costs between $99 and $500. Renting this equipment can cost $120 to $300 annually, so buying your own can save money in the long run.

6. Look Into Government Assistance

The federal Affordable Connectivity Program offers a $30 monthly discount on internet service for eligible households. Additionally, 20 internet service providers, including AT&T, Comcast, Cox Communications, Spectrum, and Verizon, have agreed to provide internet service for no more than $30 a month to eligible households. Combining these benefits can result in free high-speed internet service.

Eligibility for these discounts can be based on:

• Enrollment in government programs like Medicaid, SNAP, or WIC.
• Meeting household income requirements.

The Bottom Line

A 2022 survey revealed that cost was the primary reason U.S. internet customers switched providers over the previous three years. Nearly half of Americans surveyed (46%) indicated that lowering the cost was the one change they desired in their current internet plan. If you’re among these individuals, you can save money by negotiating your bill or switching providers. Investing time in this effort could result in significant savings.

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