Where is all your money going? Every month it seems like I make less? (W4:D3) Debt Free Millionaire

Debt-Free Millionaire

Is your money running out faster than you get paid or at least faster than you want? Where is all that money going? Have you checked your credit card statement? How many of these reoccurring expenses are you paying each month.

Monthly or annually expenses are the greatest way for any company to get a lot of money from you. Because they are only drawing a small amount every month, you feel that they are inexpensive. When a piece of software like Microsoft word was $99.99 for an entire suite of software people thought it was too expensive. Now you pay $6.99 a month for it. One year later, you’ve already paid $83.88 and you are still paying on it every month. At least with the $99.99 program, you could keep it for 3-4 years before needing a new version and upgrades came for free.

Something that also happens with the mind is that when they are smaller amounts asked for, you mind begins to rationalize it. You see a small amount and you feel you can write it off as a small expense, if you get ten $9.99 memberships, that is $100 a month that is disappearing, whether you use it or not. Gym memberships have run off this model for decades. They sign you up and charge you ever month, you feel because you have a membership you are gaining muscle or losing weight yet are you actually going to the gym? Are you getting your money’s worth? If not, why don’t you quit and save the money, because it is easier to rationalize paying such a small amount instead of taking the time to find out how to cancel that membership. If you have those ten memberships sitting around and you aren’t using them, is it really worth stopping payments?

Streaming services are the worse with this. You sign up for Netflix, Prime, Disney, and Hulu and any other streaming service and you are paying for them as you go, but do you really need all those programs? Since the content is always there, do you really need to keep them all around or should you technically watch everything on Disney one month and then when you have seen everything you need to see, can you quit that plan and start up the next? Do you really need to waste the money on all those services and not really use them?

Remember that like income small streams make raging rivers, just like in expenses, small streams of streaming services make raging rivers or, in other words, small payments each month make for large amounts of money leaving your savings every month.

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Also read these articles:
https://finance.yahoo.com/news/consumers-paying-more-ever-streaming-181821039.html https://www.statsignificant.com/p/the-broken-economics-of-streaming