Monthly bills can rise quietly. A small increase in a phone, internet, insurance or television package may not seem significant until you consider what it costs over a full year.

This makes recurring expenses worth reviewing from time to time. If a service has become too expensive, ask to speak to the retentions team—sometimes called loyalty or cancellations.

This team speaks to customers who are considering leaving. They may be able to offer a discount, remove unused extras or suggest a more suitable plan. There is no guarantee, but a calm phone call could uncover options you have not been offered before.

In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories to explore how our habits, experiences and emotions influence financial decisions. It is a useful companion to this exercise because recurring bills are easily left untouched once paying them becomes routine.

The next time you find an expense you would like to lower, get on the phone and say this:

“I’m reviewing my monthly expenses and considering cancelling. Could you put me through to retentions and check whether a better price or plan is available?”

A lower monthly bill often begins with checking what you pay and asking what other options are available.

The aim is a clear, fair conversation about whether the service and price still suit you. Even a modest saving, repeated every month, can make the phone call worthwhile.