How to Take Control of All Your Subscriptions
There’s a subscription to everything from gaming to streaming to ready-to-eat meals. And as convenient as all of these services are, “as little as $ 5 a month” offers can quickly pile up and spiral out of control. In the video above, I share some of the techniques I use to control my subscription budget.
Write it down, do the math
First, just write down each subscription you pay for, how much it costs, and when it will renew. I have two entries on my phone, one for monthly subscriptions and one for annual subscriptions. Add up your monthly and yearly expenses, and the totals are likely to shock you. Suddenly, “just $ 5 a month” seems like a lot. Now you can start deciding what services you need and what you can get by.
Cancel often, update from time to time
The nice thing about most subscriptions is that you can cancel and renew them whenever you want. Do this often. There’s no one stopping you from paying for just one month of Netflix, skipping a new season of your favorite show, and then canceling. As an added bonus, companies often offer you discounts and renewal incentives.
Reminders are your friend
When talking about cancellation, always set a reminder for a few days before renewing your subscription or ending your free trial. I always do this as soon as I sign up for a new subscription. This allows you to decide if a subscription is worth it and saves you the hassle of paying for another month. I bet most companies secretly hope that customers will simply forget they signed up and continue to pay for a service they may or may not be using.
These are just a few simple techniques that I use to manage all of my subscriptions. If you have a system that works for you, let us know in the comments below.