Sunday, January 31, 2010

Emergency money can be found by cutting back on digital services

Digital providers post-recession

Many people are looking to build up their emergency money funds. They have scoured their budgets looking for that one item that is unnecessarily increasing their monthly expenses. Consumers are finding that a major money drain is their monthly cost for digital services.

The recession was a difficult time for companies to get through, and that includes digital providers. Before the economic downturn, they were already elevating prices and using "bundles" to hide costs and extra fees. Once the market made a turn for the worse, they continued to lift prices in an effort to mitigate their own losses. The result was bulked up digital bills for millions of customers.

Digital providers and your money

When it comes to cable, satellite and telephone companies, they are overjoyed when customers never read their bills. They know what has long been an insider secret: once people start paying for a service, they get lax. If a bill was $49.99 at the beginning of the year and increases slowly to $59.99 by mid-year, most consumers won't notice, particularly those who have direct bill pay services attached to the account. Steve Sandel, finance analyst in New York, said, "It's easy to become complacent with paying bills in today's society. So much can be handled automatically that it puts customers at a disadvantage when costs increase. Most companies know this and increase fees little by little throughout the year." … click here to read the rest of the article titled “Emergency money can be found by cutting back on digital services

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