Buck Builder Challenge #1 – Cut Your Monthly Expenses Loose
Most of us are paying more than we need to on some recurring bill. So make a quick list that captures your biggest recurring payments (mortgage, heat, internet, car payments, phone, insurance, etc.) and either reduce your package if it makes sense, or give them a call and ask for a reduction, just like I did in this recent post.
These add up, even if you manage to save $20 per month it would be worth over $3,200 in 10 years (assuming a 6% return).
Bonus points for stopping a service that you don’t really need. A while back I stopped my Texture (Netflix for magazines) subscription because I realized that it was causing me stress. I was feeling pressured to get through all the business magazines before the next ones came out. So I cancelled. It saved me money and I barely miss it (okay full disclosure, I really missed it at my breakfast the next day, but it faded quick).
Let us know what you did to bring down your monthly bills in the comments below.
If you’re new, check out the Buck Builder Program. It’s a simple way to get a picture of where you stand and get you started in the right direction. Check it out here. And don’t forget to sign up to the newsletter to get our Buck Builder Challenges and weekly blog posts.