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Cancel this, Save that: Quick financial moves to save you money

File photo
File photo

With over 40 million Americans out of work, many are struggling financially.

It’s a sign of the coronavirus times.

Filing for unemployment and looking for a new job are ways to keep money coming in, but what about the money you have now?

If your expenses are outweighing your income, start cutting. First, try negotiating your bills -- cable, phone, credit cards, car insurance, home security are just a few. Before you make the call, know how long you’ve been a customer, how much you use the service, and ask to be transferred to the customer retention or cancellations department. The representatives there have more authority to cut a deal.

Consider cutting the cord altogether. On average, a monthly cable bill adds up to $70. That’s $840 a year. Streaming services like Hulu and Netflix cost $15 a month.

And how much do you spend on subscription services? A survey of 2,500 people found most people guessed almost $80 a month. In truth, they were actually spending $237 a month, which translates into $1,900 a year more. Free services like Truebill and SubscriptMe help you see what you’re paying for each month and help you to cancel what you can’t afford.

One thing to know, before you start thinking about changing your phone carrier, use OpenSignal to figure out which providers have good coverage in your area. And be sure to check for professional discounts. Many cellular providers offer a discount for thousands of companies.