About five years ago our household switched from a regular phone line to an Ooma voice over IP device. Since we already had internet access there would be no additional monthly cost to have a land line in all the wall ports. Admittedly these days we tend to use cell phones but it is nice to have a home line and not very expensive. We spent the $149 on the ooma purchase already so it’s a sunk cost.
Our payment information changed so I dutifully logged in to update the records. I was pleasantly surprised that Oooma had been keeping track of all the savings we made with that one time switch and had it prominently displayed on the initial splash page. So far we have saved $2211 on phone bills with this original $149 purchase. A few years ago Ooma added a nominal and growing monthly fee of $3 which has since grown to $7.26 a month for 911 service and some mystery taxes. Lets assume it was 7.25 a month for the lat 5 years or $435 bucks. That is still a savings of $1775 over the five year period. Based on that initial $149 outlay that is a tax free 64% annual return which handily beats the stock market.
This simple move – which we can probably improve on – contributed substantial savings without any further effort. Automated savings can really add up over time. Even one change can make a difference.
or visit a library instead of buying a bunch of books and videos.
What can you do in your household?