Not too long ago the only subscriptions that people had were for their local gym or library. These days, there is a subscription for everything. Moreover, in the past, people paid for these services with cash so they knew they were spending money each month on renewals. Ever since credit cards became common and payments became digital, subscription fees are automatically charged and the user often doesn’t even know till several months later.
When they look at their bank statement 6 months later they realize they have spent a few hundred, or even a few thousand, on a range of services that they haven’t used because they didn’t know they were paying for it. If you have found yourself in a similar situation, or you just want to save some extra cash by streamlining your expenses, here are a few tips to manage your subscriptions.
Video
Whether it is through a smart TV service, a dedicated video streaming service, or a mobile app, everyone consumes video content these days. Most of these services are paid services, especially if you want to watch real video entertainment like movies and TV series. According to a recent survey, 85% of homes have at least one video subscription, while many have 5. A single video subscription could be setting you back $20 per month, on average.
Many people get a streaming service just to watch one show or a particular documentary and then never use that service again. Removing a single service could save you $200 per year. Look at which video streaming services you aren’t really using anymore and either unsubscribe or buy the content you want and then let go of that network.
VPN
With people working from home and cybercrime rates going through the roof, using a VPN is important. However, even ISPs these days are providing VPN services bundled with their internet packages and you might already have a VPN from work or from school. If you don’t really need an additional VPN service then learn how to cancel nordvpn and just use what you already have. If the need arises, you can always re-subscribe in the future when you need to use it. If you aren’t using the internet very extensively, and if you are reasonably familiar with good digital hygiene practices, you will do just fine without a dedicated VPN service.
Music
Gone are the days when you had to buy music from the iTunes library or insert all your favorite CDs into the car’s CD changer. Now you just connect your phone to the stereo wherever you are and play your tunes. However, a lot of the music you stream is also available online for free. If you enjoy popular tracks, you will easily find these online and you can stream them for no cost at all. If you have more than one music subscription service, keep the one you use most often and let the others go.
Gaming
The Gameboy couldn’t even connect to the internet and the latest gaming consoles are nearly useless without an internet connection. In many cases, buying a physical game is cheaper than buying a digital version or playing the same title through a streaming service. Moreover, with physical games, you get more flexibility. You can buy them used, you can swap and share, you can trade them in when buying new games and you can easily use a CD on different devices.
Unless there is a particular title that is only available through a streaming platform or is only available in digital form, buying a physical game is often better. Also, both physical and digital games are usually priced the same. Since you get more flexibility with a physical game, it makes more sense to buy that.
Gyms
If you are signing up for a gym membership, don’t buy a year’s worth of membership, take it one month at a time. You might be very motivated to buy more months, but buying a month at a time actually helps you stay more motivated and consistent and also saves you money. In case something comes up and you can’t go, at least you aren’t wasting the money you have already spent.Through subscriptions we are not only buying products and services, we are buying convenience. However, we aren’t always using that convenience, and many times we are just paying for knowing that we have that option. Since the subscriptions themselves are quite small, you don’t notice them but when you see the cumulative effect they all have after a year, you realize it is quite an expense. Before signing up for your next subscription, check to see if there is a monthly version or if there is an option to buy it for a one-time cost. This will save you a lot of money and also make it much less stressful.
