Subscriptions: Knowing When to Quit

4b6a008e-2a80-4048-9683-70bd5b6422edHere is a quick reminder on the continuing journey of saving money: watch out for those subscriptions! It seems like you can pretty much get anything you could ever possibly want or need through subscriptions these days—music, razors, socks, makeup, snacks, full blown meals, and basically everything else. You guys—monthly memberships can add up FAST. I am constantly evaluating the things I am signed up for and making those calls to customer service to cancel. Let’s take an long hard look at all these subscriptions and evaluate if they are thus deemed worthy to be a part of our budgets, and redirect that money to fun funds like travel. Or retirement.

App Subscriptions: 

IPhones are sneaky. When you sign up for a subscription via the iTunes store (so basically any time you have purchased something through an app), it could renew your subscription without you even knowing it (even if you have canceled that account!). There is a quick way to see if you are being charged for things you don’t want to. Go into the Settings on your phone. Scroll down to the iTunes and & App Store. Click on your Apple ID and press “View Apple ID”. Press manage subscriptions, and toggle on or off the subscriptions you want to keep, or even evaluate the kind of subscription you have. Often, subscriptions are in bundles. If you use that app all the time and you feel it is worth the subscription, consider upgrading to a longer subscription for a better value. However, if you aren’t using it at all, consider unsubscribing or subscribing for a lesser time.

Hulu, Netflix, Amazon Prime, Redbox Instant:

There are pros and cons to each of these services. If you pay for some sort of TV streaming service, are these services really necessary? My parents don’t have any sort of TV service, so they find these to be beneficial to keep up with all their favorite shows. My husband and I, on the other hand, chose to have an AT&T bundle that has both TV and Internet, so we don’t pay for any online streaming. If you do decide to go the online streaming route, how many of those do you actually need? Do you really need Amazon Prime AND Hulu AND Netflix AND Feeln AND Vudo AND fill-in-the-blank-whatever-video-streaming-service is out there. You might as well just pay for TV. Take time to add them up and see if you are spending too much.

Music:

Spotify is pretty much my jam. Literally. I listen to it every single day. I totally think it is worth the $10 I pay a month for it. My dad loves his iTunes subscription and uses it all the time. This is the way we get our music. But I only pay for one service at a time. I am not going to pay for Pandora, iTunes, Spotify, etc. all at the same time. Rule of thumb—paying for one is enough. But I should add that I also don’t buy music anymore. Why would I when I can listen to it through my subscription service? I think that is the point. But still, if you can get away with listening to ads, that’s an extra 10 bucks a month.

Box Subscriptions:

I know you have seen them out there—monthly “box” subscriptions. Birtchbox, NatureBox, Ipsy, PopSugar’s Must Have Box—like every kind of box imaginable. There are boxes for your dogs, for you kids, for your socks (yes, really). Sometimes these subscriptions can be lucrative and money-saving, like the Dollar Shave club. Let’s face it, we all pretty much buy razors, so why not have them sent to you for $4 a month? Win. But sometimes, they are not saving you money and they aren’t things you really need. I used to be subscribed to Ipsy, a makeup subscription that came in a cute little makeup bag every month. I eventually stopped it because: 1. That is $120 a year on makeup I ended up throwing away or not using, 2. I had a MILLION Ipsy bags everywhere, and 3. I really didn’t need a service that I didn’t use! Reevaluate those box subscriptions.

Automatic Subscriptions:

When you buy items from online stores like JustFab, Fabletics, JewelMint, you have to pay attention to the policy agreements. Often, you have to manually “skip” buying an item each month, or you will be automatically charged. I didn’t realize one of these sites worked this way when I bought an item. Three months later, I realized they had charged my credit card 3 times! I called customer service and had them remove the charges and then canceled my account. Be smarter than those sites and cancel before they charge you a small fortune.

Watch Out for the “Free” Subscriptions:

Often, sites will allow you to have a free trial of their services. Sometimes I forget I even signed up for this until I am charged. When you notice a charge on your credit card, call their customer service right away. They are often very helpful and are able to reimburse your card. When I was a student, I got a free trial of Amazon Prime. When time came to pay, I couldn’t afford the fee when the time came to pay up. I completely forgot about this until they charged my card a hefty little sum. I called customer service right away and they reimbursed the entire amount since I hadn’t used the service since my card was charged.

Out of Sight, Out of Mind:

What is usually a temptation to buy are email subscriptions. Is your inbox flooded with pesky emails reminding you to spend money? What I have found helpful is to Roll them Up. unroll.me is a great way to clean up your inbox. When you sign up you are able to unsubscribe from emails you end up deleting anyway, or you are able to put all your emails into one email they will send you each day. I put in things that I like to look at every once in a while (DSW, Fabletics, JustFab,TravelZoo, Apple, RetailMeNot). This way, I am not tempted to look at the email and buy something.

BONUS:

Here is another quick tip when it comes to canceling. If you aren’t sure about a service that you may want to cancel, call customer service. Sometimes they will give you incentives to stay with that particular brand. For example, I was thinking of canceling a snack service called NatureBox. When talking to customer service, they offered a free box after pausing my subscription for three months. I ended up taking the free box but still canceling because it was just a stretch too far. This has happened several times in different ways, but it might be a good idea if you are thinking of canceling or not, it could work to your benefit.

Until next time friends, happy savings!

Bethany

Leave a Reply