I found out the hard way earlier this summer of just how important it is to review your expenses often to save money. I had been a little lazy in reviewing a few of my bills and regular expenses and that cost me money that I should have been saving and not spending.
Here is an example. My wife signed up for a long distance phone plan quite some time ago when a couple of her friends moved cross country. When reviewing our phone recently I noticed the extra cost on our plan, a cost we were no longer using. We weren’t using it for quite some time to make things worse. If I had been on top of our plan I would have been saving money for months instead of spending it foolishly.
The same thing happened with one of my credit cards. I was paying an annual fee that I had no business paying. I didn’t need the credit card any long and rarely used it. I cancelled it and therefore cancelled an unnecessary expense from my budget.
We were renting a satellite receiver for the kids room at a cost of $3 a month. I found a used one on Kijiji for $30. In 10 months it’s paid for. Small steps but it all counts.
If you want to save money instead of spending it I would suggest taking all of your bills such as cable, phone, cell phone, insurance, bank statements and credit cards and look for unnecessary charges, expenses or plans and cancel them or dial them back.