This is a link to the eighth in an ongoing series billed as 30 Day Challenge to save $1,000 by Ramit Sethi at IWillTeachYouToBeRich.com, his blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship. His series outlines the various ways we can keep money in our pockets.
People spend an enormous amount on subscriptions without ever realizing it.
The advice is to cancel service subscriptions and he provied links to common subscription items to target. Instead of buying a service that you probably are not using to its fullest, buy only what you will use, when you need it. Your “investment” in getting into the service is a “sunk cost” — like infrastructure. Yes, you might in the longest run get a better value, but the odds are that you simply are underusing your subscriptions, i.e., paying more than you need.
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For previous tips: Tip #1: Pack lunches for the rest of the week, Tip #2: Turn your thermostat down 3 degrees, Tip #3: Sell something on eBay today, Tip #4: Involve your friends in your savings challenge, Tip #5: Optimize your cellphone bill, Tip #6: Use gas prices to become your own hedge fund, Tip #7: Create a “No Spending” day once a week