Lifestyle & Wellness
Reducing Subscription Costs for Entertainment
The average American has numerous subscriptions for entertainment. Here's how to save money on entertainment including streaming services without losing connectivity or you favorite television shows.
Whether it’s for your favorite television service or an app you downloaded to save money, one thing is for certain. If you’re not using a subscription service, there’s no benefit to keeping it around. Cutting it out is the easiest way to save money.
That doesn’t mean you should drop every subscription you have, especially for entertainment services. However, it is essential to have a few tips and strategies that may help you lower your overall costs.
Know What You’re Spending
Your first step is to know what you’re spending money on through entertainment subscriptions. Data from Yahoo! Finance shows the average American has 4.5 subscriptions and pays about $924 per year for them.
If you’re not sure how many you have, look at your credit cards, bank statements, and Venmo payments to find any and all subscriptions you have. It’s not uncommon for individuals to not know what they are paying for month to month.
Ways to Get the Entertainment You Want Without the Cost
Being creative can help you reduce your overall subscription service costs. Take a look at these savings options.
Sign Up for a Free Trial
Many of the subscriptions available offer free trials. Before you agree to any type of service, use these to help you save money. You can always cancel the subscription before the trial ends, so you’re not paying anything for it. Once the free trial ends, and you want to keep it, ask for the lowest price possible.
Rotate Your Subscriptions
Instead of paying for services on an ongoing basis, rotate which you use. For example, you may only need a certain platform for your favorite show. In that case, find out how many episodes there will be for the season, wait until they are all available, sign up (even for a free subscription), and then watch what you love. Cancel before your subscription runs out. Pay for just what you will use instead of an ongoing subscription you will not.
You can use this method even for sporting events or specific specials you watch. Just make sure you cancel before your subscription runs out to save the money.
Try Out Cheaper Services
Some services tend to cost less than others. Try out these free or low-cost options now and see if they are the ideal choice for you. They may not have all of the same programming you want and love, but you can always rotate subscriptions to capture those specific programs or events.
Find the Best Deals Now
Another way to reduce your costs is to just ask for a better deal. Some subscription services offer sign-up bonuses or savings opportunities. That could include getting several channels or networks for one price. When signing up for any service, make sure you ask about the availability of a special offer or sale package. That’s going to help you get free channels or other savings from time to time.
Pause Your Subscription
Some services, like Hulu, allow you to pause your subscription. You can often do this for up to three months. It limits your access, but it also means you can just pay for the services you are using and not when you are too busy to actually commit to watching enough TV without a high cost.
Avoid Annual Subscriptions
Annual subscriptions tend to be more expensive because you forget about them, and they just carry on year after year until you cancel. Instead, use a monthly billing setup. That way, you know you hav eto pay the monthly bill to have access. You’ll be more conscientious about using those services that you like.
Ask About Discounts for Those Who Are Older
If you’re older, you may qualify for lower-cost entertainment services. Ask and see if they have anything available. Even if you do not see any special savings opportunities advertised by the company, you may still qualify for low-cost programs and savings just for being older.
Stream For Free
Another option is to go with a free streaming service. There are numerous free options that you can consider, and many have great TV and movies to offer you. As long as you’re not looking for the just-released show, you can benefit from these free services. You will have to sit through commercials, but it’s often well worth a few minutes of commercials to avoid services that charge you substantially each month.
Finding ways to reduce your costs on subscription entertainment services means you’ll have more room in your budget for things you want to do. Why pay for something you are not using or getting the most out of when you can find alternative or discount options that keep more money in your pocket? It may be easier to do than you realize.
About The Author
Sandy B
Sandy B. is a full-time freelance writer who offers a range of budget-friendly, money-saving strategies that everyday people can put into place. She's written for the financial world for decades, offering exceptional legal service along the way.