There was a pretty good article in yesterday’s WSJ called In the Fight Against Bill Creep, Every Extra Fee Is the Enemy. You’ve probably heard me talk before about the importance of the recurring minor. While I don’t believe every financial problem can be solved by destroying coffee shops (Your problem isn’t Starbucks.) I passionately believe people spend a ton of money on automatic expenses that don’t make sense.
You: Why do people do that?
Often, the expense made sense at the time they made the decision. But their situations have changed. You move, you have a kid, get a new job, enter or leave a serious relationship. For whatever reason, your gym, Netflix, cell phone, and cable bills no longer reflect your true needs. In the interim, you’ve probably added services to reflect what you need now.
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Isn’t it interesting how we’re really quick at adding features we need (and paying the corresponding fees) but kind of slow to remove them when they’re no longer relevant. What expenses have you removed that you should have killed months earlier? What’s still on your to-cut list? How’s your Bill Creep?
Tags: bill creep
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