This isn’t necessarily a bad thing. If you’re enjoying those monthly yoga classes or living for House of the Dragon on HBO Max, then you are making use of the money spent! However, for those subscriptions that you rarely take advantage of — or have forgotten about completely — consider actually revoking that membership. Fortunately, it’s never too late to revise your budget and start fresh. There are plenty of tools out there that can help you monitor your spending and saving habits, and help make managing your money a whole lot easier. Setting aside even 30 minutes to review your budget can be a game changer. I updated my income, adjusted my spending categories, and upped my savings goals! To eliminate this severe seasonal anxiety, start saving now. Last year, BuzzFeed asked members of the community to share what worked for them in budgeting for the holidays, and their tips were super insightful! Do you know your current balance? Are you prepared to begin making payments again if you paused? If your student loans are almost paid off, how will you invest the money you’ve been allocating toward these payments moving forward? Figuring these answers out now can help you be successful in the new year. To kick-start this research, choose one bill that you’d like to see lowered and explore your options. Many companies offer bundled rates for things like car and renters insurance. This can be a way to lower the amount that you’re paying and save a little bit of money each month. It’s also good practice to know the reasons that your score fluctuates. Factors like missing a payment or keeping a high credit card balance can seriously impact your credit. Plus, keeping tabs on your score can help you spot fraud or error. By catching and reporting these things early, you can help protect your finances. You can also take a deep dive into your health insurance plan to check out perks you probably didn’t know existed. These perks can include telehealth services and discounts on medical supplies and gym memberships. Understanding the APY of a savings account means understanding how much money you can earn by having your money simply sitting there! While you probably won’t be able to sell everything you part with, some things can be well worth it to re-home. Clothing in good condition, electronics, and furniture are things that can earn you extra cash through resale.
