Cut Cable (or satellite)
Cutting the cord used to be a sort of rebellious fad, but it’s almost become the norm now. If you’re still paying for cable or satellite, you could be throwing hundreds of dollars away each year. Consider what channels you actually watch and whether even those are necessary. Then price out the cost to replace them. By combining a few cheaper services, like Netflix and Disney+ you could save a ton of money. But be careful not to replace your cable with so many extra services you’re actually paying more. Cancel Unused Subscriptions. Do you know how many subscriptions you have and how much you’re paying for them? Magazines, newspapers (digital & print), games, apps, software, and mystery boxes are just a few of the subscription expenses I’ve paid for over the years. Subscriptions can be especially deceptive since they tend to be reasonably priced. But those costs can quickly add up as you continue to add more to the mix. The subscription model itself doesn’t make something a bad buy; you’ll just want to be sure you’re getting your money’s worth from it. A service like Trim can help you find subscriptions you might have forgotten about. Stop Impulsive Shopping. Shopping may not be the first thing that pops to your mind when you think of entertainment, but how often have you absentmindedly clicked through email coupons or Amazon just “browsing” and ended up with a package at your door 2 days later? Bored browsing or e-window shopping is a habit that can easily spiral out of control and leave you wondering where your money went. To take control of impulsive spending, make a new habit of adding items to a wishlist instead of the cart. Give yourself permission to buy whatever’s on your wishlist, but only after some predetermined amount of time. Forcing yourself to wait even 24 hours can give you the room you need to evaluate the purchase and determine if it’s something you’ll really value. Don’t Buy Books. Books are a fantastic resource for both gaining knowledge and entertainment, but they can also be a source of impulsive spending for some of us. Next time you feel tempted to grab the latest copy from your favorite author or line your shelf with yet another recommendation, check your local library first. Not only will you save money, but you’ll be more likely to read it when you know you have a set timeframe. Also, If you’re like me and prefer to read on a Kindle or iPad, you can still take advantage of your library’s offerings via their e-book lending platforms. Just ask your librarian or check out your local library’s website for more information. Stop Gambling. This won’t apply to everyone, and admittedly there are some who may turn this into a lucrative hobby, but for the bulk of us gambling is a surefire way to lose money. Some people approach gambling as a form of entertainment and consider the money they gamble as “spent.” But it’s still something you should consider weighing up against your other priorities when determining your budget. If you’re a regular consumer of lottery tickets, I know it may seem a small expense, so instead of throwing away your losing tickets, start stacking them up.
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