According to Forbes Health, improving finances was the second most popular New Year’s resolution for 2024. The report shows that 38% of people want to get their financial situation in order this year. So, if you, like many, made this promise to yourself, consider the following tips.
It’s often easier said than done to stick to a budget. You might start with the best intentions, but find it hard to say no when it comes to going out to eat with friends, for example. One way to save money without completely depriving yourself is to analyze your expenses and see if there’s anything you’re currently paying for that you don’t use.
GOBankingRates outlined five bills, usually related to unused or underused services, that you can stop paying in 2024.
Subscription Services
Almost all experts agreed that subscription services are the main culprits when it comes to unnecessary expenses. Today, there are more subscriptions available than ever. A few years ago, it might have just been one or two magazine subscriptions, but now there’s a monthly service for almost everything. From streaming to meal prep, you have convenience at your fingertips – but it comes at a cost.
Gym Memberships
While you may have signed up for the gym in January with the best of intentions, it’s not worth continuing to pay every month if you stopped going in February.
Unused Insurance Policies
How about stopping full coverage car insurance if your vehicle is 15 years old? At this point, it’s unlikely that your car will retain enough value to make paying for full coverage worthwhile.
So, it’s worth reviewing the insurance policies you’re paying for and determining if you need all the coverage your policy offers.
Storage
If you haven’t used the things you’re storing for over a year, you’re probably wasting money on storage. There’s no need to keep paying $100 or more a month for things you won’t use.
Cable TV
Stopping cable TV subscriptions and opting for streaming services can be a good money-saving option, as there are several streaming services and packages that are much more affordable than cable because they can be tailored specifically for you.
Source: Forbes Health and Go Banking Rates