Do you feel like your subscriptions are getting out of hand, and you need to figure out how to save on subscriptions? Sometimes your subscriptions can add up to more than you realize and leave your pocket feeling a bit empty. That is why it is vital to take stock and think about how to save on subscriptions for your financial stability.
Although subscriptions provide convenience in your daily life, they can prove a financial burden when not managed well. In this article, we will give you the tips you need to save on your subscriptions, where possible.
There are several subscription services you can share with your friends and family members. Some subscription providers allow you to create family accounts or have multiple logins. Take advantage of subscribing to these services and splitting the bill amongst yourselves. Sharing is a great option when identifying how to save on subscriptions.
Also, if you subscribe to a service that you do not regularly use, such as a lifestyle subscription box, you could consider sharing. You could get your friends involved and subscribe together. While you will have to share the contents of each box received, you will cut down on your subscription cost.
Ensure, though, that when you choose to share a subscription account, you do it with trustworthy friends. The reason being that you will have to share your account details with them.
You may subscribe to a service and find that you stop using it after a while. For example, you may have an internet subscription in your home, and then after some time, you relocate to a place where the landlord provides the internet for free. Therefore, you no longer need your previous internet subscription.
If you do not stop the service, your service provider may charge you for something you no longer use. They may make you jump through hoops to deter you from cancelling, but it will be worth your while to unsubscribe in the end. It is also a logical step to take when looking at how to save on subscriptions.
Note that there might not be an easy unsubscribe option, and you may have to reach out to customer service to cancel a subscription. There may also be a waiting period involved. Therefore, the earlier you unsubscribe, the better.
Most quality subscription services are not free. But some very decent free software subscription services exist that could be a money saver.
For example, you can use Google Drive or Dropbox to store your files for free instead of subscribing to premium cloud storage services. Other kinds of free software subscriptions include anti-virus, CRM, and photo manipulation software for your devices. Using software with a free subscription is optimal when considering how to save on subscriptions.
Indeed, free subscription services usually come with limited access to the software features. But the service provider will normally offer access to all features through a paid subscription. The free version is often sufficient for individual use, though. So, if you do not need the service for business reasons, a free subscription should be good enough.
Do you need three different music streaming subscriptions? No, you probably only need one to fulfill your needs. Having multiple subscriptions for the same service increases your expenses unnecessarily.
It may be tempting to have many subscriptions for a single service because you are worried about missing out on the latest product and service trends. The reality is, however, that you will likely end up paying twice for the same thing.
As you investigate how to save on your subscriptions, cancel all the duplicated subscriptions you have. Work with a single subscription for every service. It will save you some money, which you put towards next month’s subscriptions.
There are some subscription services that you cannot live without and must pay for every month. Most services will offer an option to pay for your subscription annually, instead of monthly, at a discounted price. Take advantage of this by pre-paying for the year and saving.
For instance, an internet service provider may be charging $12.00 per month to subscribe, but $100.00 per year. You can save $44.00 per year by paying annually instead of monthly. Ensure you pre-pay subscriptions that you regularly use, as this is a great strategy when determining how to save on subscriptions.
You may look at a subscription service that is just a few dollars a month and think you can easily sign-up and not give it another thought. However, it just takes a few of these to accumulate a substantial amount in subscription expenses. Then, when added up over a year, it could end up being a large sum of money.
Therefore, as you think about how to save on subscriptions, consider your current subscriptions before hitting that subscribe button. Be clear on how much you are comfortable spending on each subscription every month and year. It will help you avoid signing up for subscription services you do not need and stop you from spending unnecessarily.
Another tactic to consider when asking how to save on subscriptions is to make use of referrals programs. Look for subscription service providers who offer a referral incentive. This way, a reward is received for each person you successfully refer to the service provider.
If you have a service you love, introduce it to your friends and tell them where they can get it. Share the referral link with them, and you will receive a reward in the form of a free month’s subscription, a monetary value to spend through the provider or some form of gift or bonus.
Before you subscribe to any service, app, or software, first know what it has to offer. Go to its website and learn about its features, compatibility, and how to use it. Find out what other people are saying about it through their review section or websites such as Trust Pilot.
Most subscription services will offer you a free trial before you commit to subscribing. Maximize such opportunities to determine if you need or like their services. It is a great way to weed out the good from the bad when exploring how to save on subscriptions.
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It is easy to forget about all the subscriptions you have tried, especially if you have been through a few of them. Forgetting is particularly problematic when it comes to those services that require you to input your credit card details before entering the trial period.
Months later, you may find the service provider has charged you for a subscription you did not want. You can, however, avoid this. There are several apps available to help you in your quest to determine how to save on subscriptions.
It is an app that helps you to manage all your subscriptions. Once you sign up with the TrackMySubs app, you can easily track your subscription spending. You only need to provide the name of the subscription, the amount you pay per month, and the date on which you pay.
The app also helps you track free trials for subscriptions you have signed up for, to avoid charges once the free trial period is over.
With this app, you can see your total spend on subscriptions and keep tabs on them. You can also organize your subscriptions into categories such as insurance, entertainment, storage, and more. The app even lets you set up an email alert to get notified when a payment is made.
You can download and install the Truebill app to help you determine how to save on subscriptions. The app keeps track of spending on all your bills, including monthly subscriptions.
You will need to link it to your bank account to help you minimize your spending. Truebill takes your transaction statement and simplifies it in a way that is easy to understand. It helps to identify where your money goes after it hits your account. This way, you can keep an eye on how your expenditure and income change from time to time.
Clarity Money is a financial tracking app that can be useful if you want to know how to save on subscriptions. The app has integrated artificial intelligence technology to help you recognize where you can save money in your life.
If you do not need live streaming services, for instance, you can remove the subscription through the Clarity Money app on your phone. The app also helps you to put your saving goals into action.
There are many options to consider when trying to identify how to save on subscriptions, as mentioned above. Technology has also given us a few apps that can help with subscription tracking and saving. Implement the above tips and tools to ensure that you stay on top of your finances and avoid overspending on subscriptions.
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A subscription is an agreement where the customer agrees to pay a recurring fee in exchange for products or services. For example, Netflix is considered a subscription as you pay for its streaming service on a monthly/yearly basis.
It depends on how many subscriptions you have. For example, if you're someone who has a subscription for a lot of things like tv streaming, mobile phone, wifi, storage apps, ebooks and music, you might find that the total of all of these can be expensive.
Our tips on this page include:
Yes, there are lots of apps you can use. We recommend using:
Yes. They are all safe to use and can help you save money on your subscriptions by tracking your spending on all of your subscriptions. It can also help you put your saving goals into action.