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Here at Inner Game Magic we’re just not big fans of the term “cut back.” Well, it kind of sounds like it’s going to hurt, doesn’t it?

Instead, we much prefer that you “let go of what’s not serving you.” Ahhhh. Doesn’t that sound nice? And it is.

Let’s face it. We’re all holding on to things that aren’t moving us forward. They might even be weighing us down. You know what things we mean. The size “whatever” pants in your closet that you haven’t fit into in years. Golf clubs that never made it to a course. A gym membership you’ve rarely used. Or that food dehydrator you ordered online. (Yeah, that was an awesome pick.

If you’re like most people there are more than a few things that will immediately jump to your mind. When they do, jot them down in your notebook. Or, better yet … gather them up and set them aside. (They’ll come in handy on another day this week!)

Today, I just want you to focus on the idea that you’re likely to be holding on to a bunch of things that aren’t serving you well. Purchases made. Relationships built. Services bought. Beliefs held.  And what I am telling you is that it’s time to examine them. Using your trusty filter.

Do they serve your highest goal? Will holding onto them help move you toward your dreams? If not, then it’s time to let them go.

SO TODAY’s ACTION: Cancel. Cut. Switch. Slash.

Pull out your notebook of expenses you’ve been keeping. If you need to, gather up your bank and credit card statements to round out the list. Then, circle every- thing you spend money on that’s a want, not a need. And think about how you could reduce or eliminate it.

Now, I can’t tell you what to cut back on or let go of. You have to use your own filter. And figure that out for yourself. But, I am here to help. With a great big list of ideas.

I want you to choose at least three. Starting right now. Cancel, cut, switch or slash it. Then share your secrets on my Facebook fan page “fans of being debt free” or Twitter so others can do the same.

Ready? Let’s go.

 1.Switch to basic cable. Or get rid of cable and try Netflix and Hulu instead.

2.Get rid of your landline, if you have a cell phone. Or, consider using Skype for long-distance instead. You can even port your landline over to Google Voice, so you can keep your home phone number but have VoIP service for free!

 3.Get rid of your cell phone. Or use a prepaid cell phone, instead of an expensive phone with an expensive contract.

4.If you carry a balance on a credit card, ask your credit card company to lower your rate. Or, transfer your debt to a card with a much lower rate. If it’s a low introductory rate that goes up after a certain period of time, just make sure you can pay off the balance before then. Or keep switching the balance to low-interest cards to beat card companies at their own game. Sure, we know it’s a pain. But, how committed are you?

5.Cancel something you’re not using – club memberships, gym memberships and unread magazine subscriptions. Doing this not only saves you money, it makes room for new things in your life that will serve you better.

6.Give up expensive unhealthy habits, like smoking. You’ll save the money you were spending on cigarettes and be healthier too!

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Now look at your “needs.” Ask yourself, “How can I have everything I need without over-spending?”

1.Review your insurance policies to make sure they still meet your needs. If you overbought, you’re losing money every month on something you don’t need. If you under-bought, you stand to lose money when trouble strikes.

 2.Consider raising the deductible on your insurance to lower your monthly premiums. But first make sure you can cover the deductible, if you need to.

 3.Use cost-comparison websites to see if you’re getting the best deal on things like home and auto insurance.

 4.Consider putting your dependents on their own health insurance plan. With today’s rising healthcare costs, it might be less expensive than the plan offered through your employer.

 5.Was transportation in your “need” column? Here’s a wild idea. Consider selling one of your cars.

6.If your bank charges you fees, switch to another bank or credit union that won’t. And find out: are you getting the best interest rate possible on your savings account?

There are some ideas for you to start cutting back on expenses that you don’t really need. Hope you found this helpful and if so please leave a comment below.

It’s time to Let it go!

Keith Young

Law of Attraction coach