Short spoken advice from Brian Tracy on reducing unnecessary recurring expenses: examine club memberships and automatic monthly charges, cancel memberships you do not regularly use (or only 'might' use) to immediately increase savings; renewing later is an acceptable downside. The clip aims to provide a simple accountability tip to help achieve financial goals.
Here's an accountability tip to help you to achieve your financial goals. If you're paying dues at a club that you never use, but you are hanging on to the membership because you think you might use it in the future, cancel it now. If it were so important to you, you'd be using it already. Some of these fees get auto deducted from your account monthly, and they may even slip right under the radar. So check your bank statement for recurring charges. Then evaluate if it's something that you use regularly or if it's something that you might use in the future. If it's a might, cancel it immediately. The worst that can happen is that you renew the membership at a later date, but in the meantime, you can start saving real money.
