Here is some simple steps to help you save money easily by unsubscribing. Im not suggesting you will save money by unsubscribing from my blog, rather the opposite in fact.
It seems like everything these days runs on a subscription based model. No need to fork out $400 up front its only $6.99 a month……forever! If your anything like me you have more subscriptions than you can keep track of. Netflix, Stan, Spotify, iTunes, Microsoft, Gym, Audible…the list goes on. I am challenging you to spend an hour or so every 6 months to go through and do a bit of a clean up. Investing a small amount of time now will continue to pay dividends for the months to come.
It is surprising how quick all those little expenses add up to large amounts. I have put together a quick
process to analyse and cleanup your subscriptions and regular expenses.
Gather all of you bills and put them in a list. This may involve going through your transaction account history, email account’s and snail mail.
Once you have the list together first go through it and see if there is any subscriptions, memberships, or regular things you are paying for that you no longer require. Contact these providers and take the necessary steps to cancel them.
Next thing is to go through the rest of the regular bills one by one and ask the following questions.
- Do I get value and use out of this service?
- Can I reduce the subscription or membership to a cheaper option? – reduce the number of channels, remove some frills etc.
- Is there a comparable service that I could switch too for a better price? – Netflix instead of Foxtel.
- Will the provider give me a better price or discount if I ask?
- Can I share the service with someone else and go halves?
- Can I pay an up front fee to avoid the subscription? – buy a treadmill instead of paying a ongoing gym membership.
- Is there a free alternative to the service offered?
- Will it save me more money or time than its cost?
You may find that you now have more services to cancel and providers to contact. If you have not performed a process similar to this before you may find you have a bit of work ahead of yourself.
Now that you will save money easily by unsubscribing yourself its time to put it hard to work. If you have any consumer or credit card debt consider putting this money towards that. You can use the process mentioned in my post Two Popular Debt Reduction Methods to get on top of your debts. Consider Salary sacrificing the money to your superfund with the added tax savings. Add to your taxable investments or even spend it on something that brings you joy.
Apply this as frequently as required to keep your expenses in check. It even helps to apply this principle when signing up for a new service. I hope this helps you cut down on expenses and free up money for more important things. Let me know how much you manage to save.