As we move into week two of the COVID-19 quarantine, it looks like this is going to go on for another month or so and the economy may be heading into a recession.
If you’re anything like me, you are now being more conscious about your finances and want to conserve resources as much as possible.
Over the weekend while I was prepping for the 3-part series on how entrepreneurs can position your business to thrive during the pandemic, I stumbled on what has become my new favorite iPhone app: Truebill. Truebill is a personal finance app that helps you gain control of your spending.
The app connects to your bank accounts and credit card accounts to give you a quick look at all your finances, so you can easily see your cash, credit and investment balances in one place.
The best part about this is that the very first thing it does is show you a list of all of the subscriptions and recurring charges that are coming out of your accounts on a monthly basis.
Let me tell you….in just 10 minutes I was able to identify over $500 of unnecessary subscriptions!
If you haven’t done this yet, you need to set aside some time to do it NOW.
In these uncertain times, one of our top priorities as entrepreneurs is to spend only what is necessary to keep our business running.
If apps aren’t your thing, don’t let that stop you. You can do this the old fashioned way…just go through your bank statements, identify what can be cut for now, make a spreadsheet to keep track, make the call or send the email to cancel.
Oh and drop me a comment below and tell me how much you were able to save yourself, I’d love to hear from you.