You will likely have a number of subscription payments and they may no longer be appropriate. You can review subscriptions to see what savings might be possible. They may not save much money but can be part of your general overhaul.

Since many of these will be credit card transactions, look through the last month’s transactions on your card account bill and bank statment.

The 80/20 Rule tells us not to spend a lot of time on minor costs so make this a quick pass through.

Consider the following:

  • Surplus mobile phone, landline and internet connections.
  • Unnecessary insurance including medical and dental.
  • Software subscriptions. Sometimes these can be substantial. Are yours ‘value for money’?
  • ‘Perks’ like gym memberships, streaming TV accounts.
  • Newspaper and magazine subscriptions.
  • Barista coffee and entertainment.
  • Cleaning and gardening.
  • Equipment leases if the equipment can be sold and the lease cancelled.
  • eCommerce and other digital fees, like hosting and cloud services.

If you have a lot of these, one way to cut through the ‘red tape’ is simply cancel the credit card and get a new one. As merchants contact you about your expired card, you can choose to sign them up or not.

Take a few minutes to review subscriptions and subscription-like payments on your bank account and credit card statements.
Cancel any that are no longer needed and which have a reasonable cost.

For more help understanding any issues relating to this Section of the Turnaround90 Campaign, use the 12Faces Diagnostic System to drill down to root causes of problems and find our suggested Treatments.

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