The rise of popular subscriptions services like Netflix and Dollar Shave Club has really helped make our lives easier.
They give us the ability to choose cheaper alternatives away from traditional options.
But have you ever asked the question “how much am I really saving?”.
(Ex.) You want to make the transition away from cable TV and you think Netflix will be a good start.
A standard Netflix plan costs $12.99, but some of your favorite shows aren’t available.
So, you also add Hulu and as cool addon, there’s an option to stream live tv for only $49.99 a month.
Then you realize a smart tv will be needed to carry out all these functions. A workaround is a Ruku stick.
Amazon can deliver that Ruku stick to your door in a day all you need is Amazon Prime which can cost $119.00 for a whole year.
Not a bad deal, right? All your packages can arrive the next day if you purchase with Amazon prime.
Did I forget to mention that Amazon Prime also includes original streamable content? Well, they do and it’s awesome.
Netflix + Hulu+Amazon Prime = 72.89
Yes! This can really add up. If you followed my brief story Netflix, Hulu, and Amazon Prime will roughly cost you 72.89 a month.
This doesn’t include new streaming services like Disney+ or HBO Max which is also creating more awesome content to steal your attention.
This is the power of subscription services, no matter if it’s Blue Apron or Bark Box.
You don’t recognize how the phrase “only 9.99 a month” can increase massively when there is a bunch of them.
Need Vs Wants: The True Financial Battle
Back in the day, all you needed was a roof over your head, food in your belly and you were content.
Nowadays, those needs are a thing of past. The introduction of the TV set has given us all the wants and desires we weren’t looking for.
The internet and our mobile phones haven’t helped either advertisers are getting more in tune with our wants.
Our wants can be a delicious slice of pizza, cool device that’s gone viral or an addition to our life that makes living more convenient.
Subscriptions provide convenience and most of us want our lives to be more convenient.
That is a true sentiment and when you have disposable income it fuels the flame of your desires.
Paying for a subscription service that delivers stylish clothes every month is a want.
Especially if you never plan on keeping it. It can be seen as waste to some or benefit for others.
The point of this post is not to lecture or inform you but to make everyone think.
Personally, I have a few services I subscribe to. I think long and hard about potential subscriptions to add.
I want to make my life easier but not to the detriment of my budget.
Below are some simple tips that may help you guys. We also spoke about this topic briefly titled TOP 6 WAYS TO SPEND LESS & SAVE MORE
Helpful Tips To Manage Your Subscriptions
Tip #1 Cancel Your Subscription
The best tip to avoid this insanity is to list all of your subscriptions.
Underneath this list, make two-columns “need” and “want” on a piece of paper or on Google Sheets.
Now move each of those subscriptions to their designated columns. services by category.
In both sections list the exact time you last used a subscription service and if it’s been longer than 2 months cancel it!
I may have tricked you, but no one needs any of these services. So, by listing the last time you used them in both categories it removes the need barrier.
Tip #2 Food Subscriptions Services
Food subscription services can be a good way to save time if you’re a busy person.
Working, maintaining a thriving social life, and eating good is a hard recipe for anyone’s cookbook.
Yet the cost for most of these plans doesn’t always seem to be a good deal.
If your cost-sensitive I recommend following YouTube channels like Tasty, Tasty provides great videos on delicious meals.
Pick a few of these dishes as your main staples and meal prep them for the week.
Shopping for groceries will be a cheap breeze as you will consistently refill your ingredients once a week.
As a bonus, you can reward yourself by eating out occasionally.
Tip #3 Manage Your Subscription Services
One of the best attributes to have in life is options but too much can make your head spin.
Dollar shave club, Blue Apron, or even new stream services like Disney+ are all great subscription services to have.
Yet knowing their passwords can be tough but manageable.
Add five more of these to the equation and you guessed it “your head will be spinning”
I use a service called Last Pass to manage all of my passwords.
Over time we tend to lose track of what services we subscribe to.
The dawn of digital has made increasingly difficult to find customer service. So, having a service to locate those lost passwords is definitely worth it.