The secret to saving money on a budget is to reduce recurring payments. Especially the ones you are not using. Here is how to do it.

We all have it. Money is taken out of our accounts, for a variety of ‘luxuries.’ Some months you notice it. Some you don’t. Over time it really adds up.

There are 4 secrets to saving money on a budget. Reduce your unnecessary, recurring payments. Simple.

When you look at these payments and evaluate the ‘value’ you get out of them, I am sure you will be surprised.

Do you really need these? Are you using them?

I bet you are not.

Here are 4 quick ways to save hundreds of dollars each month.

Netflix, Stan, and Foxtel

The secret to saving money on a budget is to reduce recurring payments. Especially the ones you are not using. Here is how to do it.

I rarely watch TV. However, I am a sucker for a ‘good’ romance movie. Being a romantic at heart, I’m always keen to watch ‘The Notebook’ with Rachel McAdams. You will find me snuggled on my couch, eager to watch it again.

I took a challenge to track every cent I was spending. You can read the post here https://mycozysundays.com/six-simple-ways-to-save-money-now/

I was surprised (horrified) I was spending AUD$80 per month on paid TV. Netflix and Foxtel. This is insane considering I rarely watch TV!! What a waste!! It is a ridiculous amount of money to spend when I’m not using the service.

Most paid TV providers will offer one month free subscription. Use this time wisely to binge watch your favourite shows. Then cancel.

Ask a friend to add you onto their account. That way you can watch the occasional show. Most accounts will allow up to 5 users.

Magazine Subscriptions

The secret to saving money on a budget is to reduce recurring payments. Especially the ones you are not using. Here is how to do it.
Magazine Subscriptions

Who doesn’t enjoy flicking through a glossy magazine over coffee?

For many years I had subscriptions for Vogue, The New Yorker, Women’s Health and Style. I loved getting them in the mail, then relaxing with a coffee to read every last page.

Over the last few months, I’ve noticed I don’t have time to read magazines. Especially, the weekly edition of The New Yorker.

They are on my coffee table collecting dust. When I have time….. When will that be?

I stopped all the subscriptions, saying to myself that I can always purchase the magazines in the newsagents.

Interestingly, I have saved an incredible amount of money, and I’ve realized I don’t miss them arriving in the mail.

Stopping the subscriptions is hard, at first. However, over time you will stop missing them.

Internet and phone plans

It is very tempting to keep up with the latest iPhones. I must admit I would love to trade my current iPhone 7 for the latest iPhone Xs.

I’m not going to do it.

It is far too expensive when my current phone works perfectly. I’ll wait for it to die. I am secretly hoping it will stop working soon.

There are always great internet and phone deals around. Have a look at how much data you use throughout six months. This will give you a good indication of what type of plan to get.

Watch out for bundles and packages offered by the phone companies. These often include ‘extras’ you will never use.

Gym memberships

Gyms make their money from members who do not use the facilities. How often are you using your gym membership? Four times a week? Or perhaps once?

If you are lucky.

Look at all your memberships, and what you are paying for them. Set out a schedule to either use the membership or get rid of them as quickly as you can. This is lost money.

The secret to saving money on a budget is to reduce recurring payments. Especially the ones you are not using. Here is how to do it.

The secret to saving money while on a budget is to reduce all recurring payments. Especially the ones you are not using. Paid TV, gym memberships, magazine subscriptions, expensive internet, and phone plans.

You will be amazed at how much money you will save each month.