Cutting out monthly fees to save money

by Jen (October 23, 2007)

If you want to save money, one of the easiest ways is to cut out monthly subscriptions to stuff you don’t use that much. It doesn’t have to feel like deprivation. My top suggestions are:

1. Go prepaid. Monthly cell phone subscriptions are one of the worst expenditures you can make. Dump them as soon as your contract is up and start buying prepaid minutes. Not only will this ensure you get every penny’s worth, it’ll also make you more conscious of how much you do on your phone… which could maybe be done in free emails (or whatever) just as easily. (And for heaven’s sake, don’t get caught up in replacing your phone with the latest gadget every year! It’s those new phones they use to lure you into those contracts.)
2. Netflix, TiVo, OnDemand, cable, satellite… Look at your TV-type entertainment packages and determine whether any of them are redundant. Most people just can’t watch enough TV or movies to justify them all. If your household does, however, check into your cable or satellite provider’s equivalent to TiVo to save some money there. Also consider cutting out certain features: can you make do with a smaller, cheaper Netflix account? Do you really need Hi-Def?
3. Magazines. If you love reading magazines, subscriptions can save you money compared to buying them on the newsstand. But if you have any subscriptions you rarely read or don’t get much out of, consider dropping them. Another option: form a subscription pool with some co-workers or neighbors. Everyone subscribes to one or two magazines, and then you trade them around until everyone’s read what they want. Saves money and trees.
4. Satellite radio. I know people who belong to more than one satellite radio network because they can’t get everything they want on just one. For me, radio would have to be a serious passion to justify that, not just something to pass the commute. If you just need something fun to make your commute less hellish, choose one network or another. Or get audio CDs of books. Or burn CDs of your favorite music. Or hook up your iPod with your whole music collection to your car stereo.

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