Subscriptions that renew each month can be convenient, but recurring charges for discretionary spending can also drain your budget.
It's easier than ever to subscribe to new services (especially with free trial offers), but remembering to cancel services you no longer use can be a challenge. A few examples of discretionary subscriptions include:
If your subscriptions provide ongoing value, that's great. But if you no longer need a subscription, canceling it can be a good way to save money.
Estimate your monthly spending for each category and adjust the sliders.
$10 here and $20 there can really add up.
But what if you invested that $0 per month? At a hypothetical 8%* annual return...
* The average return of the S&P 500 stock index has been ~10% per year since it's inception in 1957, not including inflation or mutual fund fees. This calculator uses a more conservative figure of 8% to estimate potential long-term investment growth.