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Radical Personal Finance
1072-Why I Stopped Canceling My Credit Cards Every December (and what I do instead!)
Dec 5, 2024
Discover why reassessing your financial health at year-end is essential, especially when managing multiple subscriptions. The discussion reveals that simply canceling credit cards might not be effective due to account updater services. Learn about innovative strategies for credit card management, including using virtual credit cards to control spending and protect your credit score. Plus, find out how you can enhance your financial planning skills by participating in the Radical Personal Finance Academy's live classes!
24:28
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Quick takeaways
- Conducting a year-end financial review helps individuals assess their performance and identify unnecessary recurring expenditures for better budgeting.
- Utilizing virtual credit cards enhances control over subscriptions by allowing users to limit and manage payments effectively, reducing unexpected charges.
Deep dives
End-of-Year Financial Hygiene
Conducting a thorough review of finances at the end of the year is essential for maintaining financial health. This involves assessing overall financial performance, ensuring retirement accounts are funded, and reviewing spending habits. By taking stock of subscriptions and recurring payments, individuals can identify unnecessary expenditures that may have accumulated over the year. This proactive approach helps in making informed adjustments to financial plans for the upcoming year.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode