There are so many different paid subscription services out there these days. These services can include beauty boxes, meal prep kits, streaming services, fitness memberships, and so on. Paid subscriptions can add up really quickly, and next thing you know, you’re paying hundreds of dollars per month on a ton of different services you might not fully utilize.
You might need to dig through your payment card statements to identify all of the services you’ve subscribed to. If you use a budgeting application (such as Mint), it might have a feature to list your subscriptions. It is always good to double to check your statements just in case something gets missed. List out all of the subscriptions, whether they’re billed monthly, quarterly, or even on an annual basis. There may be times when you don’t realize you’re paying for something you’re not using until you’re digging through your payments, line by line. Some services we’re subscribed to includes Netflix, Spotify, and LinkedIn Spotlight.
Do you actually use the services you’re subscribed to? This is different than taking full advantage of it. How often do you watch shows and movies on Netflix? You don’t need to be on it every day, just enough where you feel satisfied with making your money’s worth. It’s about finding that right balance. If you’re subscribed to two or more services within the same category (e.g., Spotify and Apple Music // Netflix and HBO Max), you might want to reevaluate whether it makes sense.
If you don’t see yourself using the service in the upcoming months, it’s okay to unsubscribe. I do it all the time with HBO Now, where I’d only subscribe when I wanted to watch a bunch of things at once. Otherwise, it’s a waste of $15/mo when I don’t plan on using it. However, you need to be mindful if there are cancellation fees. If that is the case, you might want to think twice before subscribing in the first place.
Often, annual payments look really attractive where it appears to be cheaper every month while being committed to the yearly lump sum. However, paying on an annual basis is worthwhile if you do plan on utilizing the service. At the same time, the annual payments can appear to take a big hit at once.
Sometimes, it is easy to say, “it is just $10 per month”. If this is said across multiple services billed per month, it adds up really quickly. You can end up spending hundreds per year on services you don’t utilize, which can be spent on more worthwhile things you can enjoy.
Have you reviewed your subscriptions lately?
Great advice. Sometimes we don’t realize how many things we’re subscribed to without needing or using them. They really do add up without us knowing better!
Thank you for some much-needed advice! I love your idea of only subscribing when you want to to knock out your watch-list; I never thought about doing that but what a smart way to avoid paying for months I do not need.
I know I have signed up for things just to watch this one show available on a lone platform and (Almost) forgotten to cancel in time, so clearing out subscriptions is a responsible way to stay on top of what we are spending and why.
Thanks so much for sharing!
Your post is so timely given how companies are pushing more and more to have us sign up for monthly subscriptions. It’s too easy to waste money on subscription that are not even necessary!
I used to be subscribed to lots of things – a few magazines & tv/films but now I keep it to Netflix. I watch most days and it has my favourite shows on!
Great post! I always make it a goal to review all of my subscriptions every month or so. It sucks to be spending on something you’re not even using! Thank you for sharing xx
Lynn | http://www.lynnmumbingmejia.com
Oohh I’m so guilty of this. I really need to check my subscriptions, and I might even cancel a few tbh, especially the ones I’m not using!
Love, Amie ❤
The Curvaceous Vegan
These are some great points!!
I totally learned my lessons about checking my subscription last year. I noticed I had for cancelled my subscription to a service I was no longer using & they had taken £20 out my account for the last 5months.I was so sad😭
To anyone reading this , I’d definitely recommend going through you bank statement , double checking your subscription & using all these useful tips
Karen x
This is great advice! It’s always a good idea to ensure you’re actually using what you’re paying for. Thanks for sharing.
I have been trying to save money and cut back so actually identifying what I really use and what I am paying for monthly that I do not use I have removed. This is such a small change but can have a huge impact. Thank you for sharing Nancy!
This is definitely something for me to think about! Great post and thanks for sharing x
I’m so bad with managing my sub accounts! I know I don’t use ALL of them, but it’s so hard for me to let them go?! I really want to start doing annual payments though!
Thanks for such an important reminder!
I like the smart tips you give here. Honestly, I’m not subscribed to any. It really has to catch me to subscribe for a whole year.
Happy Spring!
http://www.fashionradi.com
This is a great reminder, especially since we can actually save up a lot more without subscriptions. Definitely a good idea to evaluate what we really need and what we’ll really use. I’ve cut down my subscriptions last year, and now I only have Spotify, which I use almost daily; I love having music in my life and certainly helps me appreciate both my work and down times more whenever I’m listening to really good music without any ad interruptions. Thank you for sharing insights with us!
Anna Jo | http://www.helloannajo.com
Oh yes one really needs to keep an eye on these, it adds up. I deleted my Netflix account months ago as I found I could never find anything I wanted to watch. Also be careful with auto pay too many companies do not turn it off when you cancel your account hoping you won’t notice…
Allie of
http://www.allienyc.com
This is something I tend to review at the start of each year, that is, tidy up my paid subscriptions.
And like you, I pay annually for those services I utilise regularly.
A smart post.
Some great tips here, Nancy and Mario. I did a big clear out of subscriptions a little while ago and I was quite shocked by how much I was paying for but not really using 🙁 Now I just have Netflix, Amazon Prime, and Flora’s swimming lessons!
Great post, well written and well explained 😄
Thanks for sharing
I’m always on top of my monthly subscriptions. I have very on/ off relationships with a lot of streaming services and things like kindle unlimited but I do forget about things that aren’t monthly every now and then and it’s so annoying when you see a charge for something you’re not using or thought you’d already cancelled. It’s so true that those ‘it’s only x amount’ payments can add up super quickly too. Reviewing them is a great way to save a bit of money if it isn’t something you check often.
Sophie
I review my paid subscriptions often. There are some subscriptions I would unsubscribe from and then re-subscribe later on when I feel I would get my money’s worth. It’s definitely helpful review subscriptions often because you are right, you might be throwing some money away unknowingly. In this uncertain time specially, it’s best to watch your money.
This is such a helpful post, I never really thought about this. Thanks for sharing!
Life is a Shoe
I need to do a bit of a reset of my subscriptions! But I remember when it was basically just Netflix, and now there’s all sorts of things and it can get a bit overwhelming!
Katie | katieemmabeauty.com
Before now, I have never really thought of watching my subscriptions haha and that’s probably because I don’t have too many of them but this definitely opened my eyes to the little things I have been ignoring. Sometimes, we honestly don’t realize how much unnecessary/unneeded things we subscribe to and this was so helpful. I’ll definitely be watching my subscriptions from now. Thank you for sharing.
This is such a great topic! We definitely don’t talk about how subscription services drain our banks accounts oftentimes without us even noticing. I have definitely gotten in trouble signing up for free week trials and then forgetting to cancel them before it charges me. I will definitely get Mint! Thanks for the suggestion. I always appreciate your money tips <3 Happy Easter!
Jill
https://jilliancecilia.com/
Hi Nancy & Mario! Thank you guys for your wonderful advice and tips, as always – find these post to be so helpful! Happy Easter xx
Naya
http://www.nayatilly.com
I’ve cancelled all my subscription and started paying for things up front, so I can keep proper track of my finances. I still managed to accidentally subscribe for something though…
LackaDaisy
Great post! This is one reason we didn’t subscribe to HBOMax, despite it’s popularity. We don’t need all the streaming services.
Argh thanks for this, even this morning I spent hours unsubscribing to stuff!
Ana C, http://www.adreamersland.com
http://www.facebook.com/adreamersland
http://www.instagram.com/anaccsa
Wonderful suggestions! I get it. Many a times my free trial has automatically converted into a paid subscription. Now I make sure to check my credit card statement more carefully. Also, I make use of apps to keep track of my spending.
xoxo
Lovely
http://www.mynameislovely.com
This is great advice. I think you forget how much different subscriptions can amount into.
I had a subscription box, full of treats coming every month, but found that I was getting items I wouldn’t normally buy. So, not only was I getting items I didn’t want, I was wasting money on them too. Safe to say, I stopped that subscription haha!
Thanks for sharing your advice 🙂
Aimsy xoxo
Aimsy’s Antics
These are good tips! 🙂 We share our subscriptions with family so it’s more economical for us – although we don’t really subscribe to much anyway! I mostly listen to the radio in the car so I don’t have spotify premium, and we just have netflix and disney for family movie night – I never seem to get time to watch but hubby does watch a lot, especially with working from home so often now, he’ll watch a show for lunch. I always work through lunch when WFH, ha!
Hope that you are having a nice week so far.