We all have them.
A money leak is when you’re spending money on something and you don’t even realize it. Or you’re spending more money than you’d like to spend.
I just finished preparing February’s training on becoming organized with money for our Organize My Home members. This lesson was so successful that many members immediately saved more than the cost of their membership!
So, I decided to share some tips on money leaks with you.
I recently plugged a money leak in my internet bill – a 2 minute conversation (after the 2 hour hold time) is going to save me $39 a month every month going forward. Sweet!
Here’s exactly what I said:
“Hi – I’m calling about my cable bill. I noticed it is $126 but you have several promotions on your website. Is there anything you can do about this for me?”
The rep said, “sure no problem.”
And he reduced my bill to $87.
Note: The representative’s job is to help you.
But they may also be responsible for selling you MORE things. You can say no thank you very simply. Do NOT allow them to talk you into more services for the same or more money. The goal here is to pay less. If they can’t do that, thank them and say goodbye.
Ideas for money leaks to plug
- Cable / satellite / internet service (get your bill reduced!)
- Cell phone (get your bill reduced!)
- Take-out / restaurants (declutter your kitchen so it’s possible to cook at home more)
- Unused / spoiled groceries (meal planning will make a huge difference)
- Extra service plans you’re not using (take inventory and see if you find charges you can discontinue)
- Streaming services (are you actually watching Disney+ AND Netflix AND Hulu??)
- Subscriptions and recurring payments
- Annual credit card fees (call and ask them to waive this for you)
- Impulse purchases (give yourself a limit)
If you try this, please let me know how much you save, ok?!
Being organized can save you SO much money! I love hearing when you plug money leaks!
Coming soon! Our Stop Overshopping masterclass will show you how to end impulse shopping for good. We plan to have this in the shop for you in about 2 weeks time.
If you have questions related to your purchase(s), please do not leave a comment on the blog. Contact our customer success team for assistance.
1 thought on “9 money leaks that are costing you big time”
Sometimes there are cases when I have no money, but the benefit is obvious and then I use a credit card. This happened recently when I realized that the price of bitcoin is starting to rise and I can get a profit. I immediately decided to buy bitcoins anonymously with credit card on Switchere.com to sell at a higher price. I was not mistaken in my calculations and was able to make good money.