In this tough economy, as each of us Backseat CEO’s comb our income statements to rid it of unnecessary expenses to push to our bottom lines, I find myself pondering why I have a land-based phone line and cell phones.
A co-worker made an excellent point, if true: 911. A 911 operator knows where you’re calling quicker from on a land line, but not necessarily with a cell phone. In an emergency situation where a few seconds can make a difference, that’s a valuable benefit.
Also, along the same lines, I only have one cell phone. I may not always have that near me, whereas my land line phones are always in the same spot scattered throughout my home.
I think my co-worker saved a land line cancellation for now. However, I will review my next bill to see if I’m paying for extras I don’t need.
That’s part of the basic financial responsibility of a manager: to periodically review the expenses within their control to ensure that the company or household is getting the value for the money.
My recommendation is to do this on a cycle that makes sense for the expense. For monthly expenses, like a phone bill, a manager may want to review that annually to see if the benefit is worth the cost and to see if there are better alternatives that can be more cost effective.