Hidden Budget Leaks That Can Make a Big Impact

Look over your monthly bills and receipts to see spending in detail.

Looking for ways to save money can be tiresome. You've been through your whole spending and now can't find any other ways to cut your spending. As the months go on, you need to find some way of curbing the outgoings. There are high chances that your monthly bills can help.

Your bills are often broken down, and you may find yourself paying for something that you don't really need. It could be apps on your cell phone or a movie subscription that you forgot about. Here are some hidden leaks and how they're affecting your budget.

The Paper Billing Charge

Many companies want their customers to go paper-free. To encourage online billing, they're issuing a charge for each paper bill, somewhere between $3 and $5 usually. This is one cost that you can quickly cut out. It may not seem like much now but $5 per month is an extra $60 a year back in your pocket.

The Unused Apps on Your Phone

Are you paying a monthly subscription for cell phone apps? Some of them you may need, but others may be sitting on your phone without ever realizing that you're paying for them. Go through your phone bill and look for these leaks in your finances. Make a list of all the apps that you haven't used in the last month, and then look at the last time you did use them. Cancel those that you really don't need and use the money on something you do need.
Eliminate the things you don't need to cut your budget.

That Forgotten Movie Subscription

You remember that free movie trial you got last year? Well, the trial is over and you have been paying for the subscription ever since. There are even high chances that you're not using it. Look through your cable subscription bills or internet bills and consider what your monthly spending is going towards.

The next time you sign up to a free trial, remember that you will be placed on a subscription. At the end of the month, you will automatically start paying for something, even if you didn't need it. You need to mark the date in your calendar to make sure you cancel it before the free period it up.

The Bundles in Cell Phone Plans

Many cell phone companies have started offering bundles. These could be to increase your roaming while you are abroad or to add more to your text messages or data plan if you need. It's worth reviewing the costs every month and consider whether you really need them. Many of these bundles cost extra, and it could be money wasted. This is often on a monthly basis, though, so consider your upcoming month. Do you really need the extra bundles you have?

Take some time to look over every monthly bill you get and assess what the money goes on. By cutting out the extras, you will save money over the course of the year. It may seem small at first, but consider it on a yearly basis. Just saving $20-$30 per month will save you $240-$360 per year.

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Author bio:

Alexandria Ingham is a freelance writer with experience in technology, business and personal finance.