In my younger days, I remember my parents renting a water cooler system. Yes, like the type you see in an office environment. The water cooler service
representative would drop by regularly, keeping us hydrated with their steady delivery of water.
My folks placed it in the dining room, which is where we ate dinner every night. I thought it was a strange thing to have in the dining room at the time. We had nice furniture, and then there was this water
cooler. It seemed out of place.
Still, I have to admit it was nice having cold, fresh water just a few steps away whenever we were having a meal.
Somewhere along the line, probably when they were tired of paying monthly for water service, they cancelled the service, and purchased a Brita water pitcher which they kept in the fridge.
This got me thinking about all the services many of us are paying, on a recurring basis, without even thinking about how those bills originated, how much those priced have climbed to since they originated,
and if they're still truly necessary to be forking over money for each month.
Make a list of these types of automatic bills that you're paying each month (or quarterly or annually) and the amounts of each. Here are a few typical ones to get you started on your list:
Banking Fees
Cable
Car Payment
Cleaning Services
Daycare/Childcare
Gym Memberships
Homeowner's Association Dues
Homeowner's Insurance
Home Security
Services
Internet
Insurance, insurance, and more insurance
Landscaping
Phone (Home and Cell)
Power/Electricity
Rent
Renter's Insurance
Snow Blowing
Subscriptions (Magazines, Amazon Prime, newspapers, etc.)
Streaming Services (Netflix and such)
Student Loans
Water/Sewer
Window Washing
Certainly, some of these services are important to most people. After all, many of us would not want to have to get by without electricity or water.
But, maybe at some point in our lives, some of these services will become
more important, and others will become less important...especially in an economy in which people are tightening their belts.
At minimum, know what you're paying each month; not just in your head, but on paper. When you have an all-in-one organized visual, you can make better decisions about your
budget.
Most people would not take $25 out of their wallets and throw it into the wind. But I do know folks who have gym memberships who never go to the gym. I also know people who are paying for magazine subscriptions who are not reading those magazines.
Make your recurring expenses list and review it every six months or so. Be organized with your money. You just may be able to keep some of it in your wallet.
And, by the way, if you want a particular service, but feel like you're paying way too much for it, call the company and ask for a lower rate. You won't always get a lower rate, but sometimes you will. I know. I've done this with our home alarm service, car radio streaming service, and cell phone bills.
Happy saving!
