Answer:
Check your direct debits to prevent unnecessary spending
Monitoring the money leaving your account each month is one of the easiest and most effective ways to reduce your spending.
Perhaps you’re still paying for that magazine subscription you never use. Maybe you planned to end your app payment after the free trial was over but forgot. Have you remembered to cancel or freeze your monthly gym membership?
You can find out which direct debits are leaving your account directly from your online banking. Alternatively, try an app like smart-bill which will help you find and cancel unwanted subscriptions and track your monthly outgoings. This is especially useful if you have multiple bank accounts.
You can sometimes freeze payments on services you aren’t currently using, such as your gym membership. This may cost you a monthly fee, but it will be lower than your regular monthly payment. You can then restart the payment when everything goes back to normal.
Explanation:
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