Cutting Subscription and Streaming Costs
Small monthly subscriptions can quietly add up. Learn how to find every recurring charge, decide what to keep and lower the cost of TV and streaming.
The short version
- List every recurring charge by reviewing bank and credit card statements.
- Rotate streaming services instead of paying for several at once.
- Watch for free trials that convert to paid subscriptions.
In this guide
Streaming services, magazine subscriptions, apps, memberships and automatic renewals make life convenient, but they can add up to a surprising amount each month. Because many charges are small and automatic, they are easy to forget. A periodic review can free up money for things that matter more to you.
Step 1: Find every recurring charge
Review the last two or three months of:
- Bank statements
- Credit card statements
- App store purchase histories on your phone or tablet
- Email receipts
Look for charges like:
- Streaming video and music services
- Cable or satellite TV
- Magazine and newspaper subscriptions
- Software and cloud storage
- Gym and club memberships
- Meal kits and product subscriptions
- Premium app features
- Extended warranties
- Identity monitoring or other services you may have forgotten
Write each one down with its monthly cost.
Step 2: Decide what to keep
For each subscription, ask:
- When did I last use this?
- Would I sign up for it today at this price?
- Do I have another service that does the same thing?
- Is there a free alternative, such as the library?
Step 3: Cancel or downgrade
- Cancel subscriptions you no longer use.
- Downgrade to a lower-cost plan, such as an ad-supported streaming tier.
- Switch to annual billing for services you use year-round if it costs less.
- Ask for a better rate. When you call to cancel, some companies offer a discount.
Keep confirmation emails or numbers when you cancel.
Lower TV and streaming costs
Rotate services. Instead of paying for several streaming services at once, subscribe to one or two, watch what you want, then cancel and switch to another.
Consider your cable bill. If you mainly watch a few channels, compare your cable bill with streaming services or a digital antenna, which can provide free local channels.
Use free options:
- Free ad-supported streaming services
- Your library's free streaming services
- Local channels over the air with an antenna
- DVDs from the library
Share wisely. Some services offer family plans that can be shared within a household. Follow each service's terms.
Watch out for free trials
Free trials often automatically convert to paid subscriptions. When you sign up:
- Note the end date on your calendar.
- Cancel before the trial ends if you do not want to continue.
- Be cautious about trials that require your credit card number.
Review magazine and newspaper subscriptions
- Check whether your library offers free digital access.
- Be wary of renewal notices from third-party companies that charge more than the publisher. Renew directly with the publisher.
Protect yourself
- Be cautious about emails or texts claiming a subscription will be canceled unless you update payment information. These may be phishing scams. Log in directly to the service instead of clicking links.
- Under federal and many state laws, companies should provide a clear way to cancel. If you have trouble canceling, contact your credit card company or file a complaint with the Federal Trade Commission or your state attorney general.
Make it a habit
Set a reminder to review subscriptions every six months. Small savings each month can add up over the year.
Terrameritavi is an independent publication. This article is general information, not financial advice.
