Are auto renewal subscriptions killing your budget? Can you count how many subscription services you have? Maybe you have Stitch Fix, PopSugar and Fabletics. Do you know your total cost of mail memberships that are set up on auto renewal? If you are looking for ways to reduce expenses, it’s time to take a closer look.
It’s likely that auto renewal subscriptions are killing your budget.
I am a self-proclaimed magazine junkie, but learned how to work the system a long time ago. If you ever ordered a new magazine subscription with a credit card, you likely got an amazing annual rate. But when you use your credit card up front you are agreeing to renew your subscription automatically which is often triple or quadruple higher than your original price.
Another way to reduce expenses is to look at what you’re paying for satellite radio. Initial membership has a special rate and then skyrockets. While I have friends that make it a point to call and ask for the intro rate again and again (as low as $25 for several months), I have forked over $200 a year because I didn’t know it was so easy to negotiate a better rate. When are you working with a budget – regardless of income – every penny counts.
Over the past few years monthly memberships have become extremely popular targeting women, men, teens, children and babies. There are memberships that suit gender, age, style and lifestyle.
Reduce expenses by canceling auto renewal memberships.
- Health & beauty related
- Kid & pet related
- Food & candy related
- Fashion & travel related
- Fitness related
For a full list of memberships check out www.hellosubscriptions.com.
Here’s a fun fact: I recently stumbled upon a $60 monthly membership for hamburger ingredients. Seriously? I love a good hamburger, but that seems sort of expensive to me. $720 a year on just this one service.
I suggest making a list of your subscriptions that are on auto pilot. This could easily add up to thousands of dollars. It is often out of sight out of mind. Because you’re not taking out your credit card and consciously paying for another box to come your way, it’s easy for charges to be forgotten. It’s time to take action. Assess your paid memberships and identify a couple to cancel.