A couple of calls can cut back on monthly payments
COLUMBIA, Mo. (KMIZ)
Inflation is easing, but living costs and bills remain high.
The annual rate in the U.S. has hovered around 2.6-2.7% in 2026. That’s down about 0.3 percentage points from 2024’s rate and significantly lower than the 8% peak recorded in 2022.
While inflation has cooled, cumulative inflation – prices over a specific period, rather than year-to-year change – tells a different story. From 2022 to 2026, cumulative inflation indicates that prices are about 10-11% higher, resulting in a reduction in purchasing power.
The value of what’s in your wallet has reduced.
According to the Bureau of Labor Statistics inflation calculator, $100 in December of 2022 has the same buying power as $109.18 in December 2025. That more than 9% increase can add up over time.
Recent data shows more than a quarter of Americans are living paycheck to paycheck.
I worked to find ways to cut back on recurring bills to help offset high costs.
Through experience, I learned it often requires patience and sitting through elevator music, but the key to lowering bills is to talk to a real person – not a robot.
Though many companies' customer service numbers will connect you with an automated voice, ask for a human rep. I spent about 30 minutes each on hold with her car insurance and phone company to reach a real person, but the payoff was worth the wait.
I started by calling Verizon. For a single line, you can expect to pay about $70 a month on your phone bill. That’s for the cheapest plan with a hotspot.
I was told $10 could be knocked off by signing up for automatic payments. If I were a first responder, nurse, teacher, student, or military member with a second line, Verizon said I would likely be able to negotiate another $25 off a month.
By simply making a call, I was able to make sure I was getting the lowest rate for my needs in just five minutes.
But how much could 15 minutes save you? 15% or more?
With that slogan in mind, I gave Geico a call, looking for another way to economize.
The average full-coverage quote for Geico is about $141 a month. After a three-minute wait, I got hold of the first human representative.
After I said I was looking to lower a monthly bill, back to on-hold music for another 12 minutes to get in touch with the appropriate department.
As the slogan goes, if wait times were included, nothing could be saved in 15 minutes.
But be patient, and hang on for a real person. After about 17 minutes, I got through to another human.
And I had some questions prepared from her previous call with Verizon.
I asked if opting for automatic payments could discount bills.
The Geico rep said enrolling for electronic funds transfers could save up to $36 a year.
A quick Google search let me know that providers may offer discounts for having anti-theft devices. So I asked.
Geico said its rates are based on the safety features of your vehicle, and no discounts could be added for extra safety devices.
If you have a different car insurance provider, it’s worth asking.
But with Geico, safe driving cuts back costs. Completing a defensive driving course can save policyholders 10% for three years.
Online courses, like Driver Training Associates, Inc. and All Star Driver Education, cost about $20.
Most range from four to eight hours and can be taken at the student’s pace.
After repeatedly asking for various ways to drive down monthly costs, I was told to take a look at the discounts page on Geico’s website.
There were 23 discounts listed, based on factors like the policyholder’s occupation, driving history and habits. Savings range from 5-25% off.
What I learned from my efforts is that by being straightforward and negotiating, you can be sure you’re getting the best rate. Be upfront about what you need and be sure to talk with a human rep.
With just about half an hour of remaining patience, providers offered to put at least $150 back in my pocket for the year.
Tune in to ABC 17 News at 6 p.m. Wednesday for the special report.
