Feeling tired and then I got inspired, hell I knew that it wouldn’t last long…
-Jimmy Buffett
I fired up the office PC a few mornings ago and walked over to the window to throw open the curtains. Rain. Lots of rain. Oh well. I took a sip of Pikes Place and admired the greening grass. First mow soon…
Returning to my desk, I settled into my leather chair and opened Outlook. Another sip as I waited for my inbox to download and I was shocked to see a screen full of unread messages. Whoa…Guess I didn’t log in yesterday?
I spent half the morning weeding through them. WSJ, Bloomberg, blogs, newsletters, offers, rebates, way way too many things vying for my attention on this damp late winter day.
My mind wandered back to a recent article I read in the WSJ about a fella who had cancelled enough online monthly subscriptions to fund a new Tesla lease.
Not that I would ever lease (or buy) a Tesla, but to each his own.
Tis the era for online subscriptions and lest we forget, all of the “add-ons”. Cord cutters soon find themselves even deeper underwater because of it. I thought I personally had done a pretty good job avoiding all that, but I decided to dig a little deeper…
The inbox clutter was the inspiration. Is all this really necessary? I don’t have to battle an inbox everyday like I did in a former life, so maybe it’s time for some Spring Cleaning.
I think part of me wanted it to be a job, a similar morning routine and with more time on my hands I was able to read more, research more. As it turns out, also spend more since many of those publications and resources are not free.
Time to cut back.
News and media outlets…
Bloomberg and WSJ all access is nice but not necessary. Pick one. WSJ wins, I can’t image not having it, so goodbye Bloomberg. I will still watch your daily programs and keep two of the free newsletters. Savings: $399/yr.
I have 25 years worth of Kiplinger’s Personal Finance magazines filling one row of my bookshelf. I have learned a lot over the years. At this stage in my life however, I find myself breezing through new issues in about 5 minutes before it gets slotted on the shelf. Time to say goodbye to an old friend. Savings: $29.95/yr.
Investment researcH…
I see that I pay for three sites, all basically telling me the same thing. Pick one. I decided to keep finviz Elite which I use daily for chart analysis. To choose I asked myself this question: If you heard of a new stock or ETF ticker you were not familiar with, which site would you go to first? Bingo. We have a winner. We also have two more cancellations. Savings: $567.41/yr.
Blogs…
Not all are free, like the one you are reading. For really good daily market commentary you have to pay to play. Many had become part of my daily life, but you know what? I think I can do without and spend more time curating my own thoughts and theses. Adios paid bloggers. Savings: $190/yr.
Insurance…
An umbrella policy is about the cheapest insurance on the planet compared to the amount covered. It makes sense for anyone with large assets or unique situations that could put them at risk. The simple man behind this keyboard just gets simpler by the day. Queue Lynyrd Skynyrd. Savings: $169.45/yr.
My “newest” vehicle is 12 years old and I will be driving it another 12 Lord willing, so I am not sure there is any more savings to be had on the insurance front. I will consider this cancellation an offset to my auto policy.
Entertainment…
I splurged on the new YouTube NFL Sunday Ticket last year, mainly because my horse that won the Keeneland Maker’s Mark Mile topped the board at 12:1. My NFL was paid for, just so I could see my new quarterback blow his Achilles four snaps into the season. Go Jets. Goodbye Sunday ticket. Savings: $349/yr.
I will still watch and root for Gang Green in 2024 when they are on national TV, or slam my head in the car door whichever I find to be least painful.
TV…
I have been all over the place chasing streaming deals over the years. Sling, Philo, YouTube, Spectrum, Prime. I have the luxury of being low maintenance and I don’t really “need” anything entertainment wise. I weaned myself off ESPN during the pandemic and never went back. Spectrum is the current winner, offering 80+ channels for $39.99. So long YouTube TV, I will catch you on the flip. Savings: $417.36/yr.
As long as I have my MLB.tv I will be just fine. America’s pastime is here to stay in this household.
When I revisited the home screen of my phone, I was able to delete a whole row of apps. I only had three rows to begin with, so now my screen is even more uncluttered.
You know what I really underestimated after this exercise? How good I would feel! It was like 20 minutes on the Peloton, another 20 in the Sauna followed by a cold shower.
I feel better already. Lighter. The inbox is much smaller and easily emptied before my coffee gets cold. As of today I don’t miss a thing.
The financial planner within me will never die. When I complete an exercise such as this, I am instantly compelled to inspire you to do the same.
Did you do the math on my savings? $2,122.17/yr.
More savings. More time. Less distraction. Less stress.
Give your own situation and spending a second look. A little spring cleaning is never a bad thing.
The Finance Stance 