Money Saving Trick: The Best Time of Year to Save Money

Tis the season for our inboxes are starting to fill up with discounts and deals. 

I typically don’t recommend spending a bunch of money all at once, but there is a trick this time of year to saving money in the long run.

As online business owners, we use a number of different software programs and a lot of those programs run Black Friday or Cyber Monday deals.

In addition, since it’s nearing the end of the year this is a great time to consider if there are any large expenses you want to make, which will decrease your tax liability for the year.

I only recommend doing this if you have excess funds in your business right now. If not, don’t worry about it, you may be able to catch some of these deals next year.

If you do have excess funds in your business, I recommend going through your software subscriptions and seeing if any of them are running deals this week. Even if they’re not, look at what the annual cost of the subscription is, as opposed to the monthly cost. There’s almost always a savings when you choose the annual subscription.

Another caveat – you should only do this for software you know you’ll use for the next year. If you may cancel it, then stay on the monthly subscription.

Yesterday, I went through my software subscriptions and this is what I found:

Canva – $119.40 per year – offer ends 1/31/2021
Savings $36 per year

Teachable – $298 per year – offer ends 11/30/2020
Savings $170 per year

Yesware – $180 per year
Savings $48 per year

Zoom – $149.90 per year
Savings $30 per year

ActiveCampaign – $108 per year
Savings $72 per year

Total cost now – $855.30
Total savings per year – $356

Not too bad!

You can see that some offer more savings than others, so you can weigh that into your decision if you can’t pay for all the annual subscriptions, but you can do a few.

You can also do this throughout the year. The only two programs on my list running a deal right now are Canva and Teachable. The rest of the programs offer this savings year-round. But it’s worth checking for these deals this week since they tend to be bigger opportunities for savings.

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