Price Comparison Demystified

Man wonders how to reduce electricity bill amount

Ever wondered if you’re paying too much for your credit card, your internet, your phone plan,  and your electricity? The bad news is, you probably are; the good news is, there’s something you  can do about it. Thanks to the Internet, it’s quick and easy to get a good grasp of what’s on the  ever-changing market. 

It’s important to note that price comparison isn’t just about comparing prices. It’s important to  read the fine print! Otherwise, a low monthly fee doesn’t necessarily mean you’ll get a low bill  every month. What are the conditions of a contract? Are there excess charges, late penalties, and  so on? Sometimes, companies will offer low initial costs, making a profit by charging large  amounts for breaking conditions. (If you’ve ever flown a low-budget airline and gone over the  luggage limit, you’ll know what we mean! Sometimes, your excess luggage fee can end up  costing more than your flight!) Does this sound a bit off-putting? Yes, but here’s a great  motivator; you can easily save hundreds a year by getting this right. So buckle in, do a bit of  research and reap the rewards. 

Here are some regular costs you can compare to get the best deal for you. 

  1. Compare Your Phone Plan. 
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It seems like there are dozens of phone providers out there, each offering several plans. Going  through them all to find your best deal seems like a headache; especially when you don’t entirely  know what providers are out there. Basically, comparing phone plans will involve looking at the  monthly fee and its inclusions; you’ll also want to check what costs are involved when you go  over these inclusions. How much is excess data? What countries can you phone, and how much  does it cost? Look at your previous phone bills to see how you use your phone, and plan  accordingly. 

  1. Compare Electricity. 
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Depending on where you live in Australia, finding the cheapest electricity can save you up to  $522/year! And that’s just by changing plans from the most expensive to the cheapest. But keep  in mind, the cheapest price listed isn’t necessarily the best for you. Some things to think about:  when do you use power, peak or off-peak? How much power do you use? What discounts are on  offer, and what are you trading off? 

  1. Compare Internet Plans. 

This is usually a bit more straightforward because it’s relatively easy to understand how much  data you’re using. Most plans nowadays are anytime plans, too. But you still need to keep an eye  on excess data charges. Another important factor is speed; if you’re mostly just using your  Internet for word processing, this isn’t a big deal. But if you’re online gaming, you don’t want to  lag or drop out at that critical moment. 

  1. Compare Insurance Providers. 
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There are many providers out there, both for health and car insurance. If you’ve been with your  current provider while, it’s worth seeing if another provider can offer you a better deal. Is it 

worth making the switch? Make sure you also compare conditions to see what is or isn’t included  in the new plan offer. 

So as we’ve seen, price comparison isn’t quite as easy as just looking at a table of prices;  different plans can be apples and oranges. But with a bit of understanding about how you use  these services, you can save for the things that matter to you.

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