Well, it’s officially March. Somehow, the easing-in period for 2022 is already over and it’s time for us slow-pokes to get our act together. Ugh. If you hate this kind of stuff (who are you kidding? You must hate it if you’ve pushed it back this far), we’re going to start small. Give your finances a zhuzh, just by cutting down your monthly subscriptions. It’s only one area but, boy, it can save you some big bucks.
If you’ve got lofty savings goals this year, are trying to cut back on ballooning expenses or need to redirect some funds towards your debts, here’s how to take stock of your subscriptions so you can cut some loose and save on the ones you do use.
Comb through your account
I will admit, I have an expense coming out monthly right now that I can’t really put my finger on. How bad is that? And the worst bit is, I’ve still not even been bothered to check. Even as I write this! The dollar amount is something small like $3.99, which is why I’ve felt no real urgency to suss it. But that’s money 101 – you need to know what’s coming out of your account. You and I are smart enough to know that!
After a cautionary tale from my mum about how she’d accidentally been paying for one of those apps that puts a beard on your face for the last six months, I realised I needed to pull my own beard-less head in. So, if you’re like me, go through your statements to find all the subscriptions you’re paying for and work out what they are. I’m betting there’s already a couple you’ve spied that you can probably cut loose.
Save on the essentials
Now that you’ve narrowed things down to the must-haves, see where you can save some cash. To start with, do you need all the bells and whistles, or can you scale some subscriptions back to a more basic option?
Your phone is absolutely essential. But when was the last time you switched your phone plan? If you’ve not bothered to look into it for a while, you defs should. You could save a lot in the long-run. Plus, with eSIM, it’s now way easier to make the switch.
felix mobile is one mobile provider that offers a monthly, sim-only, no lock-in plan. For $35 a month you can get unlimited calls, texts and data at speeds of up to 20Mbps. And if it’s a factor for you, felix is also a carbon-neutral certified company that’s powered by 100% renewable electricity and plants a tree for every month you’re with them. Find out more, here.
Cut the dead weight
It’s time to put on your tough pants and ask the hard questions. How often do you use each subscription, really?
Set some criteria that works for you, whether it’s having to use a subscription at least weekly, or having a monthly budget and whatever subscriptions can fit into that amount, can stay. It’s up to you but the key is to stick to your standards – don’t lower them like you do on your dates. (I don’t care how funny they are, if you’re not attracted to them, you’re not attracted to them.)
You can always re-subscribe
Do you have every streaming platform under the sun, right now? If you downloaded five different ones to watch only one show on each, it might be time to reassess. But it doesn’t have to be permanent – consider ditching them temporarily. When your next flavour of the moment strikes, you can always re-subscribe to one of them then. There’s nothin’ wrong with a bit of rotating depending on what show is your go-to right now.
Budget for paying upfront
It’s a real boss move to opt for the most expensive option upfront. As someone who has never done it, it’s something I aspire to do. You can save a bunch by paying for an annual subscription over a monthly one, so try to set aside some cash to have on hand for when renewal time pops up again.
Try cutting back your monthly subscriptions and saving on the essential ones to see the difference you can make. I’ll make you a deal and get to the bottom of my stupid mystery cost. I could be saving $56 a year once I work out what it is.
Use code PEDESTRIAN for your first month free. *Then $35/mth on a no lock-in contract. New customers only. Ends 30/06/22. T&Cs apply.Image: Schitt's Creek