In 2018, I was updating my ledger for our CPA and when it came back I had spent almost $400 in silly monthly subscriptions I wanted to throw up. That would have covered the cost of the new lens I was saving for! Things that were silly weren’t necessarily not needed, it also meant I could have save $$$ by just paying a one time yearly fee instead of monthly.
Examples of silly monthly subscriptions that I canceled and now either don’t use or pay for it yearly to save:
Spotify – I listen to the ads.
Monthly Courses – I would rather one time purchase.
Insurance – I do a yearly premium and save hundreds!
Not silly monthly costs:
Adobe Suite – you have to be able to edit!
Podia – Where I host my courses.
Studio – A place to work.
This is not a one size fits all, instead you have to think about what is valuable to you and your business. Do you really need ad free music to be productive, or does that monthly fee make it doable for now? Then do that, make a note in your ledger and see if you can save up to pay for a year next year.
Task 5: Comb through your monthly subscriptions and see what you can cancel or pay for a year in full! Save money and keep what makes you happy, and not poor.