Cutting costs, or how to have £50 more per month from spending 5 minutes.

This week my focus is on cutting my costs in a specific area. It is the area of magazine subscriptions, and club memberships.

Today I have reduced my costs of £171 per year by removing a magazine while basically just contains gossip, and TV programs (we have the TV guide on the Sky Box, so do we really need a magazine that doesn’t contain a majority of the channels we have anyway?). I also removed a membership, which is included in those savings.

Are you the kind of person who gets gym membership, and then don’t end up using it? Cancel your gym membership, and go outside running instead (easy to say in the summer like now, wait for the autumn).

Are you the kind of person who subscribes to a magazine, or newspaper, but never have enough time to sit down and actually read it? Cancel it! You can always buy single issues when you do have the time.

I have another £396 per year to save from a short 5 minute phone call tomorrow to cancel something I am subscribing on, but that I am not really using.

I guess I will need to lobby harder for my wife to give up the Gym at £480 per year.

That would bring it to a saving of £1047 per year, or £87 per month.

Well, looking on the good side my ISA increased by 1.27% today, but unfortunately my non taxfree investments in shares dropped by 1.58%. Fortunately enough the upside was more than the downside.

Also, the Bordeaux 2009 sales are now finished. Had my last order confirmed today. Now all I have to do is wait 10 years and hope that they have some better value then :)

Until next Friday, when I will talk a little bit about gambling (yes, I used to gamble, and now all I can possibly lose is the interest).

/Fredrik Sohlberg