I recently gave up my subscription to Max (HBO) even though they have a lot of great programs. I mean it was only $9.99 a month with ads. That’s not much, right? Well, not when you already have so many subscriptions.
And not when you’re trying to save money. As easy as it is to ignore the small stuff, it’s those often-forgotten expenses that wind up eating away our savings. Or what could be savings if we weren’t spending so much. Yes … even on small stuff.
How did I get so many subscriptions?
Sometimes we look at an individual item, like a subscription, and think “that’s only a little more.” And of course we don’t want to deprive ourselves! So we make an exception (just this once) and add it to our monthly expenses. Again and again. And all those “just this onces” can pile up.
Stop for a minute and think about how many subscriptions you have. I can wait while you count them. Online news sites. Online groups or information sites. Games. E-zines. Entertainment sites. Shopping sites. Memberships. Even hold-in-your-hand real live newspapers or magazines. Think hard.
Now add up how much all that is costing you every month. Is it more than you expected? Now multiply by 12 for your annual cost. And by 10 to see how much you could have saved in 10 years, knowing it’s even more with interest (compounding). Or invested in a strong stock.
But wait … I have to live!
Okay. I get it. If we don’t enjoy life what’s the point? I agree. You’re not looking to join an ascetic monastery. But you also want to have money one day when you really need it … like for a house or your kid’s college. Or even that dream vacation.
And let’s not forget retirement. It creeps up on you faster than you think. And takes a LOT of money. Definitely not a time when you want to be short of cash. So maybe you don’t need quite so many subscriptions now?
If reading this has done nothing more than make you think about it, at least that’s a start. And maybe … just maybe … you can give up a few? You don’t have to go cold turkey.
But more and more companies, especially online ones, will be looking for that subscription money for their own needs. So even just staying aware and remembering to say “no” now and then can hopefully help you with YOUR needs.
More posts to help
Why Can’t I Save Money Even When I Try?
Saving Money Is Hard. I Feel So Deprived!
Banking Basics: Often-Asked Banking Questions
Basic Financial Terms: Know Your Finance Lingo!
Credit 101: How To Make Credit Work For You
When To Use Saving To Pay Off Loans (And When Not)
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