HOUSEHOLDS may be surprised with how many unnecessary expenses they have – and one internet-related monthly fee might be one of them.
This is if you happen to have a router in your home that you did not pay for yourself and are charged an additional monthly fee for it.
Now unfortunately, your entire internet bill won’t go away, which is said to be about $60 a month on average.
However, odds are you might be able to cut some of it assuming you are renting equipment from your internet provider.
What’s the simple way to avoid paying an extra monthly fee? Buy your own router and stop renting.
A recent study by business tech site ZDNet shows that the average internet customers would save $150 per year by purchasing their own router.
That would equal an extra unnecessary $12.50 a month you are paying.
Caleb Reed, a personal finance expert and founder of TheDollarBudget, told the Sun that most people don’t even notice the rental charge on their bills each month.
“After noticing this charge on my own cable bill and doing some research, I have saved more than $25 since buying my own router in May of this year,” he said.
“The router I now have is much better than the one I was renting and it only costed me a one-time payment of $65!”
Leif Kristjansen, founder and president of personal finance blog FiveyearFIREescape, claims a study he conducted on co-workers and family found that everyone over 50 rents their router.
This is because they don’t want to go through hassle in deciding what type of router they have to buy, he said.
But if you’re doing this – you might want to seriously reconsider.
While you’ll have to lay out some money for a router – this will save you hundreds of dollars in the long-run.
Because in five years, that $150 turns into $750 that you just wasted.
Normally, routers can cost up to $100 or more – but luckily Black Friday is almost here and some big deals are going on.
For instance, you could purchase a “TP-Link AC1750 Smart WiFi Router” on Amazon for just $49.99, a $30 (38%) savings from its original price.
In comparison, Target has this same router listed for $59.99.
Plus, you can always look at reviews (before buying) and YouTube videos for help.
Once you’ve set up your router, make sure you contact your internet provider and inform them you are no longer using their device and ask them how you can go about removing your monthly rental fee.
Also, keep in mind that there is now a federal law in place that means internet providers can’t charge customers fees on routers that they already own.
Find out how this savvy expert saved $60,000 this year.
We explain how to save up to $325 for Thanksgiving.
Plus, we explained four bill providers that might be overcharging you.
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