Week 2: Reduce Expenses
A mistake many people make when they are determined to reduce expenses is to set high expectations for themselves or unrealistic goals. It might work for a short time, but may not be sustainable! Here are 4 practical ways to cut back on expenses Cancel unused memberships or subscriptions. This is obvious but often overlooked. Review bills you automatically pay. Have they crept up recently? Is there opportunity to shop around for lower rates? Use of streaming and entertainment services have gone up significantly, but many services are similar. If you use multiple streaming services, aim to eliminate one of them. Downgrade on some of your services. A slight downgrade may be unnoticeable to you, but could add up to significant savings. Music streaming services, software subscriptions are an example of places where you may be able to downgrade and still have your needs met.