B脫 | DO MONEY BETTER

How to save money on your next broadband contract

By Jamie Kavanagh, Contributor at Broadband Genie | March 27th 2020

Looking to save money on your next broadband contract? Read our top tips on getting the best deal on your next broadband package.

Broadband is now regarded by many as important as gas and electricity. Just like those other utilities, there is a competitive market out there that you can take advantage of to get more for less. Jamie Kavanagh, a contributor at Broadband Genie, has put together a list of top tips for saving money on your next broadband contract. Use one, use them all, either way, you will make savings!

Check your package

The best way to ensure you're getting value for your money is to check that you're getting what you pay for and are paying for what you need. It is all too easy to spend money on broadband deals that offer lots of features but then never use them. Take a good look at your contract and see if you're getting the right service for your needs.

Look at speed, data caps, added extras, freebies, paid extras and assess if you want more or less each of each. You can then research the market with a much better idea of what you want and what you don't.

Don't be baffled by bundles

All broadband suppliers offer bundled services 'to make life easy' for you. Take a good look at these bundles and don't be afraid to mix and match. Sometimes a bundle offer may offer good value for money but that won't always be the case. If you will never use half of the bundled services, you may be better off just paying for what you need.

For example, some broadband providers offer broadband-only deals without a landline. If you use your mobile minutes to make calls and never use your landline, this could offer a saving. Check prices though as not all broadband-only deals are actually cheaper!

When your contract is close to the end, start doing your research. Investigate market prices for the same service and build a picture of offers or promotions other companies are running. Then call your current provider and negotiate.

Haggle don't switch

There is a lot of talk about switching providers to make savings but not always enough talk about haggling with your current provider. Not long ago, churn, the term used for the turnover of customers, wasn't important to providers. In a fiercely competitive market, that has changed. Many companies will work with you to offer discounts or incentives to stay with them. You could save serious amounts of money by haggling.

When your contract is close to the end, start doing your research. Investigate market prices for the same service and build a picture of offers or promotions other companies are running. Then call your current provider and negotiate. Armed with this knowledge, you can ask for a like-for-like discount or more features for the same money depending on your needs. Sometimes you can get both!

Broadband deals for students

Many broadband providers offer special deals for students. Some offer shorter nine-month deals while others offer no-contract broadband. Nine-month contracts cover the academic year and may be useful if you go home at the end of term. If you're staying put, a traditional contract may work better.

It is worth shopping around for student deals but don't necessarily go for the shorter or no-contract option as they don't always offer better value. These contracts are usually more expensive than a traditional contract and will often include setup fees or other extra costs. Check the small print before signing.

Short term broadband contracts

A typical broadband contract can be for 18 or 24 months. This doesn't always sit well with 12-month tenancies and can leave you exposed if you need to move. Many providers offer no-contract or short contract broadband but these can be expensive.

Compare the cost of one of these contracts over the term of your tenancy versus buying a standard contract and paying an early release fee after 12 months. Sometimes it's cheaper just to pay the release fee!

Mobile broadband

If you're not a heavy broadband user and value flexibility over speed, you may like to consider mobile broadband. We all get data allowance as part of our contracts and adding more data to that contract may be cheaper than buying separate fixed line broadband. You could buy a mobile contract with a larger data cap or buy occasional bolt-ons depending on your needs.

Mobile broadband won't work for gamers or for Netflix binges but it will work for general surfing, streaming YouTube and relatively light use.

Mobile broadband is also worth considering for students and those in rented accommodation or where there is no landline.

All of these tips could help you save money on your next broadband contract. Like with any money making or saving scheme, the more research you do, the better position you'll be in when it comes to negotiation.

B贸 is part of National Westminster Bank Plc (鈥淣atWest鈥), registered in England and Wales (Registered Number 929027). Registered Office: 250 Bishopsgate, London, EC2M 4AA. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. NatWest is entered on the Financial Services Register and its Register number is 121878. The Financial Services Register can be accessed at www.fca.org.uk/register. NatWest's registered VAT number is GB 243852752.

B贸 is protected by The Financial Services Compensation Scheme (FSCS). Read more here.

* If you have accounts with B贸 and NatWest, the maximum you would be able to claim across all accounts combined is 拢85,000.

Photo credit: All our lovely shots come from unsplash.com. Thanks guys!