The Subscription Audit

Audit everything. Download your last three months of bank and credit card statements. Open a simple spreadsheet or use a piece of paper. List every single recurring payment. Be ruthless. Do you use this app? Do you watch this channel? If the answer is 'no' or 'rarely', cancel it. If you are unsure, set a reminder to check in two weeks; if you haven't used it, cancel it. Most people are paying for services they don't even remember having. Once you have cleared the clutter, look at the big bills: internet, mobile phone, and insurance. Call these providers and ask: 'Are there any promotions I can apply to lower my bill?' Often, there are. If they say no, ask what a new customer would pay. Threaten to switch if necessary. You can easily save 10% to 20% of your monthly expenses by doing this once every six months.