Are you paying for too many monthly subscriptions and services? Many of us sign up for various services like streaming platforms, gym memberships, and meal kits without realizing how these costs can add up over time. Before you know it, a large chunk of your monthly budget is dedicated to recurring payments. But don’t worry—it’s possible to take control and reduce these expenses without sacrificing all the things you enjoy. Here are some practical strategies to help you cut down on monthly subscriptions and bills.

The first step is to identify all your subscriptions and recurring payments. Go through your credit card and bank statements for the past few months and make a comprehensive list. Include the name of each service, the cost, and the frequency of payment. It’s easy to forget about subscriptions, especially those with low monthly fees, so this step is crucial for understanding where your money is going.

Once you have your list, categorize each subscription as essential or non-essential. Essential subscriptions are those you can’t live without or would be extremely inconvenient to cancel, such as utilities, rent, and healthcare costs. Non-essential subscriptions are those you could do without or find alternatives for, like multiple streaming services, subscription boxes, or gym memberships that go unused.

Now, prioritize the non-essential subscriptions you want to keep. Consider which services bring you the most value or joy. For instance, if you’re an avid movie buff, keeping a streaming service subscription might be worth it, but you could consider canceling others you rarely use. Look for overlapping content across services and keep the one that offers the most unique value to you.

Next, negotiate or ask for discounts on the subscriptions you intend to keep. Many service providers are willing to offer discounts or promotions to retain customers. Contact each company and inquire about available deals or cheaper plans. You could also mention that you’re considering canceling to see if they offer any retention deals.

Finally, set reminders to review your subscriptions regularly. It’s easy to forget about recurring payments, and companies often increase prices over time. By setting calendar reminders, you can ensure you’re always aware of what you’re paying for and take action to cut back when needed. You can also use this opportunity to reassess the value each subscription brings to your life.