5 Ways to Lower Your Home Internet Bill – The Motley Fool

5 Ways to Lower Your Home Internet Bill – The Motley Fool

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Are you unhappy with the price of your home internet? Find out how to bring down your costs.

Key points

  • Home internet is a must for most households, but the cost can add up.
  • Getting a promotional price, downgrading your plan, and low-cost home internet programs could help you lower your monthly bill.

If you have high-speed internet at home and feel the price is too much, you’re not alone. It’s not uncommon to pay a high monthly price for home internet. While prices can vary by provider, plan, and area, you may be able to spend less money without eliminating your home internet access. Here are five ways to lower your home internet bill:

1. Shop around and compare rates

If you have more than one internet service provider in your area, it’s good practice to shop around and compare rates. You could get a better rate by switching to a new provider.

Many companies run special money-saving promotions to attract new subscribers. If you’re okay with making the switch, you could save money.

While not all internet or cable TV providers extend promotions to current customers, some do. If you’re not happy with the rate you’re currently paying, it’s worth asking your provider if they have any money-saving promotions for you.

Contact the customer service team, be friendly, and ask if they can help you lower your bill. You may have more luck with this if you have multiple providers in your area because your current provider will likely want to keep your business.

3. Downgrade your plan

Review your internet plan and make sure it fits your current needs. When you first signed up for home internet service, you may have enrolled in a higher-tier plan that you no longer need. A lower-tier plan could cost less money.

Do consider how many people are in your household and how you use the internet before doing this. You don’t want to choose a plan that will be too slow for your household needs, which may include work, remote school, or video streaming.

4. Buy your own equipment

Many internet service companies charge a monthly rental fee to use their equipment. Unless you have your own modem or modem and router device, you’ll need to pay this fee.

That means you’ll be paying even more money for home internet, and it could result in hundreds of dollars in fees paid over a few years.

One way you can get around this is by purchasing your own equipment. You’ll spend money upfront to buy one, but this change could save you a lot of money. If you don’t want to buy a pricey brand-new device, check if anyone is selling a compatible device in your local area.

5. Look into low-cost home internet programs

If you meet the income requirements or other qualifications, you may be eligible for low-cost home internet. Check to see if your internet provider has a low-cost internet program or if there are any programs available in your community.

Another option to explore is the federal Affordable Connectivity Program. We recently wrote about how 48 million U.S. households could qualify for free home internet.

Don’t be afraid to negotiate your bills

There’s no reason to pay more than necessary for internet access. If you’re unhappy with the cost of your internet bill, get creative and find ways to keep more money in your bank account.

If you don’t have luck lowering your internet bill, consider negotiating the price of other bills. If you’re able to reduce the cost of one or more of your bills, you may be able to reach your financial goals sooner.

Check out these personal finance resources if you’re looking for more money-saving tips.

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