Find Extra Cash by Reviewing Your Bank Statement
You may not believe it, but you already have extra cash at your disposal. So where is it? Do what I did; I looked at my bank statement for last month to see where my money was going. Wow, what an eye-opener! I saw where I was spending money on small items that added up to a rather large lump sum.
I love listening to music especially in the car while driving and also when I am exercising. After reviewing my bank statement, I realized I was paying for five subscriptions, Pandora, Spotify, Amazon Music, Power Music NOW, and Sirius XM Radio. Altogether I was spending over $50 a month. My question to myself, do I need all of these subscriptions? The answer was NO. I realized that I signed up for the trials and forgot to unsubscribe after the trial period ended. So I had to assess and decide which ones to keep, if any. I decided to keep Sirius XM radio for now.
Make a plan
In order to save money, I decided to cut the cable and stream TV. When I initially signed up for the service, I got a great introductory offer that included unlimited sports and extra movie channels. Unfortunately, I did not realize until reviewing my bank statement that the introductory offer had expired, and now I am spending an extra $30 a month for unlimited sports. While this girl likes her basketball, football, and tennis, I realize that saving money is more important.
Take a look at your telephone. Are you paying for apps that you no longer use? Yep, I was. I had signed up for Babbel to learn Spanish. When I first signed up I was estudiando espanol tres veces por semana. Then it was, dos veces a la semana, then finally, cero veces a la semana! Good intentions, but the excitement had faded, so time to cancel. You may have fitness apps you no longer use. So take a close look at your apps to see where you can save money.
While talking about cell phones, take a look at your cell phone plan. For example, I have been with TMobile forever. So I decided to contact them to look at my plan to see if I could save some money. Well, guess what, I am 60 years young, and TMobile has a 55 and over plan that I qualified for that ended up saving me $50 a month!
If you are like me and hate to cook, you may be spending too much money eating out. I was. Even though I hate to cook, I am spending more time in the grocery store. Not only do I spend less, but I am also making better food choices.
Take action to Find Your Extra Cash
So go for it, take a few hours and look at where you are actually throwing your money away. Then, take control of your spending to become FI!
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