3 Ways To Handle Mystery Subscriptions and Save a Bundle

  • If you haven’t used a subscription service in the last 90 days — cancel it — even if it’s a small amount. Paying for a service or product you no longer use is a waste of money, plain and simple.
  • Use two credit cards for monthly subscriptions/bills. One of these credit cards should be due on the 10th of the month and the other on the 25th — you can call each credit card company and ask them to change the due date to these days. Add up all of your monthly subscriptions/utility bills and divide by two. For example, let’s say the total is $500, so divide by 2 and you get $250. The goal is to place $250 on the credit card that is due on the 10th and the other $250 on the card that is due on the 25th. This ‘smooths’ your monthly bills so you don’t have to pay them all out of the same paycheck (e.g., 1st or 15th of the month). You can do the same with auto and mortgage payments. Let’s say both are due on the 5th of the month, leaving you a little squeezed for cash on your first paycheck of the month. If you want to move your car payment to the 15th, pay it on the 1st as you usually do, then pay it again on the 15th when you get your next paycheck. You will then be one month ahead and can pay it on the 15th going forward. You have effectively changed the due date for your car payment!
  • I advise against using an auto-draft out of your checking account to pay a bill. Mistakes happen and you don’t want your checking account funds tied up while the situation gets sorted out. Also, never use your debit card anywhere except at ATMs to get cash. It’s a huge hassle if a thief gets a hold of your debit card and uses it.

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Seeking Success

Seeking Success

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Live with purpose and master your finances, health, and relationships.