Subscription services are great. But they are also plentiful and costly. According to a recent report, the average American spent $273 per month on subs in 2021. That’s up almost 20 percent compared to 2018. While we all love subs for their convenience factor, you could probably cut back on some and save some cash. Here are some signs you’re in too deep with subs.
You’re Paying For Things You’re Not Using
There’s a good chance you’re paying for subscriptions that you never, or rarely even use. One easy way to weed out subs that you don’t use is to target TV. Make a list of all the TV services that you’re subscribed to. Then go through each one and see if those services carry shows you actually watch. If you’re subscribed to services that don’t carry shows you enjoy, cut those services.
If you make a list of all the subscriptions you’re paying for and there are some surprises, it’s time for some changes. As Nasdaq reports, forgetting that you’re subscribed to something is a surefire sign you don’t need to be paying for it. Discontinue those services immediately. If you’re feeling antsy about doing so, remember that the best part about subs is that if you find yourself wanting it again, you can simply resubscribe.
Your Budget is Hurting
Another sign you’re paying for too many subs is that your budget is hurting. If you can’t figure out why money is tight each month, look at the money you’re shelling out for subs. That’s an easy category to cut back and free up some funds for more important things, like savings and paying down debt.
Adapted from an article distributed in partnership with SavvyMoney