Jason Williams, 38, recommends reviewing monthly subscriptions to see which ones you still use.
Source: Jason Williams
Take a bow, skinny soy latte. Your time as budget-crusher is up.
Unconscious spending is the next Starbucks-like personal finance cliché, says Chris Kampitsis, a certified financial planner at the Barnum Financial Group in Elmsford, New York.
“An overuse or overreliance on subscriptions, everything from Netflix to different delivery services, like monthly boxes, all adds up, ” Kampitsis said.
If there’s one spending habit people should really scrutinize, he said, it’s auto-spending, which can cost you a fortune without you even realizing it.
The last few years have seen an explosion of monthly subscriptions — rather than flat, one-time fees.
Many people don’t look closely at their credit card statements, so it can be easy to overlook the itemized costs.
“Suddenly you can be paying hundreds a month for services, ” Kampitsis said. “Can you justify their cost?”