Saving on Subscriptions and Memberships
Saving on Subscriptions and Memberships
Our cable bill kept rising, but we were barely home to watch. Our gym membership was on automated pay, yet I barely went since I had gym at home. We noticed that we were spending money on things we weren’t using and decided that we would cut off unnecessary bills for the year. We canceled our gym membership and slowly added items to help us work out at home. We also invested in great internet services and shared television subscriptions instead of cable. I must say that we of course watch more television now with the pandemic, but we still pay less than we did before getting rid of those expenses.
We went from paying over $250 a month to paying less than a $100 and used that extra money to make necessary purchases for our home. You never realize how many unwanted expenses you pay until you no longer have to!
MilSpouse Money
Mission Response:
A home gym can be a great way to save on a recurring membership fee. It looks like you have a good place to exercise in the comfort of your own home, Joderle! The Covid-19 pandemic has impacted the amount of time people are spending at home which could lead to changes in spending habits. Like Joderle, you may be interested in using streaming services rather than cable or setting up a home gym instead of paying a monthly fee if you’re not going to your local gym regularly. It can be easy to lose track and forget about subscriptions, gym fees, and entertainment but those costs can really add up. A great way to stay on track with your spending, know where your money is going, and achieve your financial goals is to follow a budget! Visit Money Ready 101: Create a Budget and use our budget planning worksheet to get the ball rolling. There are many methods for budgeting, but the most important thing is to do it! Whether you’re using one of our worksheets, an Excel spreadsheet, mobile app, or pen and paper, find the method that works best for you and stick with it.
Following a budget is essential for financial security. The goal of a budget is not to restrict the fun things but rather help you and the family know where your money is going and how best to allocate your limited resources to meet your goals like paying down debt, buying a home, saving for college, retirement, or a family vacation. Every family’s situation is unique so take the time to evaluate your current situation and adjust your spending to meet your priorities!
