With apps at our fingertips, subscriptions are the norm with many of us being more than happy to sign up to enjoy ongoing access to our favourite products and services.
As convenient as they are, it’s no secret that subscription services can quickly add up.
In fact, they have prompted Citizen’s Advice to raise concerns in the past.
Here’s how you can reduce your subscription costs. ( Getty Images) (Image: Getty Images)
The organisation recently found that people in the UK spend over £300m a year on unused subscriptions, with 26% of people signing up by accident.
Whether you pledged to take control of your finances in a 2024 New Year’s Resolution or you’re simply looking for some creative ways to save money, keep reading.
Money-saving expert at NetVoucherCodes, Rebecca Bebbington, has curated some top tips to help consumers save money on their subscriptions.
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How can I reduce my subscription cost?
Here are eight top tips from NetVoucherCodes to help you save on your subscriptions:
- Using a single account like Apple for all subscriptions can help you keep track of your subscriptions and make cancellations easier. This can give you better control over your spending.
- Be cautious of signing up to a subscription service through a third-party platform. The terms can be quite different from the main service, so always read them thoroughly to avoid any unexpected surprises.
- Thinking about switching a provider because the costs are too high? Sometimes being transparent about your intention to cancel with the company can lead to them offering you a better price to keep you as a customer.
- To avoid charges after a free trial, set reminders to review and potentially cancel the service. Remember, not all subscriptions remind you to cancel. Some services let you enjoy the full trial even if you cancel right away, so consider cancelling immediately after signing up to avoid forgetting later.
- Every now and then, take a moment to review all your subscriptions. Do you really need this? Is it worth paying for? You will be surprised how often the answer is no. You might also find some subscriptions you’ve completely forgotten about.
- Family plans can offer significant savings, making them a smart choice for busy households. For example, Spotify’s Premium Family plan, priced at £17.99 per month for up to 6 members living together is significantly cheaper than individual plans, which are £10.99 each. For couples, a Duo Premium plan is just £14.99 – that’s a £6.99 saving per couple.
- Before committing to your subscription, have a look for a discount code or promotional code. A little bit of searching can secure you a great saving on the initial cost.
- For streaming fans, try Leapfrogging. Instead of juggling multiple streaming subscriptions, stick with one at a time. Plan how you watch, enjoy, cancel, and then hop on to the next. It’s a fun way to binge-watch your favourite while keeping costs low.
Have you tried any of these top tips? Did they work? Let us know in the comments.
