Have a plan to take control of finances
Dear Dave: My mom and dad always told me to live within my means. As an adult, I’ve made some mistakes with money, including falling right back into debt after paying off everything. I’m tired of this roller-coaster, and I want to get control of my finances for good. Can you give me some advice on where to start? – Melissa
Dear Melissa: It’s frustrating, isn’t it? But making mistakes with money means just one thing. It means you’re human. We’ve all done it. Think about this, though. We’re approaching a traditional time of the year for changes. On top of that, you’re smart enough to have realized what you’ve done in the past hasn’t worked. Believe it or not, I was once in the exact same spot you are now. When it happened to me, there were three pieces to the puzzle that helped me break the cycle. One was fear. Specifically, I was scared to death that I wouldn’t be able to take care of my family, and that I’d retire broke. Now, don’t misunderstand me. No one should live their lives in fear. But a healthy, reasonable level of fear can provide needed motivation.
Another was disgust. I realized what I was doing was stupid. I was tired of living that way, and I made a conscious, purposeful decision that things were going to be different.
The third piece, and maybe the most important because it’s connected to our spiritual walk, was contentment. We live in a society that’s constantly having the idea that we’ll be happier, or more successful, or more admired, if we’ll only buy this or that
product. We’re constantly marketed to, and when we have this stuff in our faces day after day, we can become unsatisfied with just about every aspect of our lives. Don’t let it drag you down. It’s all just an illusion.
One of the things I did to combat this, was to start living on a strict, written, monthly budget. Also, I stopped going places where I was tempted to spend money. When you go to the store make a list of only the things you need. On top of that, take only enough cash with you to buy what you need.
Contact Dave Ramsey at daveramsey.com. Follow him on X: @DaveRamsey.
Jessica Guynn and Bailey Schulz
Not a weekend goes by that Theresa Krakauskas isn’t unwinding with TV. Lucky for her, there’s plenty to choose from: “Mad Men” on AMC+. Horror movies on Netflix. Or another rewatch of the hit Broadway play “Hamilton” on Disney+.
In all, she subscribes to nine streaming platforms. That’s in addition to a Barnes & Noble subscription to get discounts on e-books, a Freekibble subscription to donate food to shelter animals and a premium account for the virtual pet website Neopets.
Welcome to the subscription economy. How many subscriptions are you paying for? You may have more than you think.
It’s not just streaming services Hulu, Netflix and Apple TV+. Like the gym memberships and magazine subscriptions of yore, we binge digital subscriptions, whether for meal kits, clothing, toys or ride-hailing services.
Then those businesses charge our credit and debit cards month after month with the relentlessness of metronomes − whether we are still using these services or not.
According to some estimates, the subscription economy has more than quadrupled over the last decade.
Apple App store:
Google Play:
“No honest business should depend on their customers forgetting that they’re paying money to turn a profit.”
Eden Iscil Public policy manager, National Consumers League
Managing subscriptions
How can I find all my subscriptions?
Regularly monitor your debit card and credit card statements. Also check all the services billed through Apple or Google stores.
On your iPhone, go to settings, tap profile then subscriptions. Make sure you have checked the box marked renewal receipts so you are alerted.
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On an Android device, go to the Play store, tap the menu icon and look for subscriptions.
● How do I stop unwanted subscriptions?
Keep an eye out for renewal notices and notices about price increases in your inbox. Set up calendar alerts to avoid automatic renewals. Use a subscription management app.