It seems like almost every product and service nowadays offers some sort of subscription service or offers. Add this on to our favorite Patreons and Kickstarters and these payments can add up fast.
After paying for a subscription for a few months we tend to adjust financially. That payment is just a part of our life now. Many of us don’t notice these payments until we hit a point where we are fiscally uncomfortable. I’ve had friends tell me stories of their financial woes while we are trying to decide which streaming service would supply us with the best movie selection.
I am guilty of this as well, but I am developing better habits. Every three months I have been reviewing my debit and credit card histories for any pesky subscriptions I may have forgot to cancel. Regularly checking to see where your money is going is the first big step in managing your paid subscriptions.
It is extremely important to assess the value we are receiving from these services. Comixology Unlimited has actually helped me save money on my comic book habit. Youtube Red’s included Google Music allowed me to stop paying for Spotify as Youtube’s package packs more of a punch. Also, we saved a lot of money recently by canceling our cable television and replacing them with a selection of streaming services. We should only be signed up for things we are actively using. There is no need to stay subscribed for something we think we might use in the future. If you choose to come back, companies will be more than happy to take your money.
Finding trials for services is anther good way to save money. Try a service out if there is a free trial offered. However, don’t just see if you like the service in general. See if it fits into your day to day life. Sure, a monthly beard box sounds like a great way to groom my man-mane. I am already getting by with my favorite products. Though I would enjoy the monthly goodies, my life would not necessarily see increased value from this subscription service.
Getting a good deal on a service is another way to get what we need without breaking the bank. Many companies offer holiday deals, or deals for new customers. Assuming you find this service to be valuable, it may be worth looking into and waiting for the right moment to jump in. My finance and I recently signed up for a dog treat subscription service. We waited for there to be a good introductory offer and ended up saving about thirty percent on a six month contract.
Most of us have hourly or salaried jobs where our income does not fluctuate week to week. Having a steady and predictable income is good for stability. However, the lack of occasional extra money can make it harder to play catch up. Unexpected expenses can come out of nowhere. Managing our bills and subscriptions helps us keep more of our hard earned cash on a more consistent basis.
How do you manage your subscriptions? Let me know on social media!