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Taking time to review all recurring expenses and subscriptions can reveal significant opportunities for savings. Spend a dedicated half-day analyzing your finances, cancelling unnecessary subscriptions, and switching service providers for better deals. Many people, for instance, could benefit from consolidating multiple TV subscriptions into a single one and switching mobile contracts to save money, which could total nearly £2,000 per year in savings.
3. Being Vigilant About Daily Spending
Next on the list is daily spending, which can seem trivial at first but ultimately accumulates to substantial amounts. For example, small daily expenses like commuting or lunches out can dramatically affect your overall financial health over a year.