I wonder how often you check your bank statement or credit card statement, not just for your personal account but for your business account? Do you ever review the transactions on there, not just to ensure there’s no fraud on your account, but to make sure you’re not paying for things you don’t need.
We’ve all had that gym membership where we’ve paid months of fees but never attended. With software subscriptions and the like then it’s easy to fall into the same trap without realising it.
Whilst a fiver here or there may not seem like much, add them up over the course of a year and you’ll be amazed how easily you can be losing money.
Do you need the same level of cover or support you’re being charged for? Is there a cheaper supplier for the same service? I’m not advocating you go for the cheapest because it’s cheap, but as long as you’re getting what you need and still getting good value and good service then maybe it’s time for a review.
I’m sure you’ve all reviewed your energy or broadband supplier, even shopped around when your car insurance or home insurance renewal comes around (and if not you should be!), so why not do the same with your other costs.
Quite often you will find that after a few months you only use a fraction of a service you are paying for, is there an option to downgrade to the level you need? Then do it.
In these challenging times it’s more important than ever to ensure we keep an eye on the pennies.