Tuesday, January 15, 2013

Cut Spending Challenge - 1

For the first step in cutting my spending in 2013, I have cancelled my home delivery of the newspaper.   I do read the newspaper and I sometimes benefit from the coupons but I think the benefit decreases more and more.  The Sunday newspaper is really what I read and I am sure at times I will still pick up the Sunday newspaper.

Home deliver cost about $175 for the year and even if I pick up the paper once a month at the store, I would still save about $125 for the year.  This is over my $50 minimum spending cut to qualify for the challenge.  I don't know that I will pick up a copy of the paper at the store more than 3 or 4 times so this had really become wasteful spending on my part.  I am not cutting something I need but something that I like but don't really make as much use of as I once did. 

This would be an example of 2 kinds of debt potholes that are described in other posts.  For one, this was an automatically renewing subscription that I was not intentional about reviewing and renewing each year.  Secondly, this was something I used, but my usage was decreasing and again allowed me to automatically keep spending for something I was not using.

So, 1 down and 51 challenges to go. 

Savings tally:
1)  cancel Newspaper  save $175 / year

Have you cut any spending yet this year?  This small beginning does not cover the 2% loss in my paycheck from the tax changes, but it's a start.


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