Subscription services are great. But they’re also plentiful and costly. According to a recent report, the average American spent $273 per month on subscriptions in 2021. That’s up almost 20% compared to 2018. While we all love subscriptions 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 subscriptions.
You’re paying for things you’re not using
There’s a good chance you’re paying for subscriptions you never, or rarely even use. One easy way to weed out subscriptions you don’t use is to target TV. Make a list of all the TV services 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 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 the best part about subscriptions is if you find yourself wanting it again, you can simply resubscribe.
Your budget is hurting
Another sign you’re paying for too many subscriptions is 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 subscriptions. That’s an easy category to cut back and free up some funds for more important things, like savings and paying down debt.