We pay for so many subscriptions every month—Netflix, Spotify, gym memberships, cloud storage, software, and more. When you add them all up, you might not realize how much of your salary is going toward them.
However, you don’t have to sacrifice the things that bring you joy or make life easier. There are ways to keep essential subscriptions while still saving money.
How Can You Save on Subscriptions?
First, audit all your subscriptions. Identify which ones you actually use and which ones you can cancel. Many free alternatives exist for the services you pay for. Look for free versions or more affordable options to cut costs.
Another way to save is by sharing expenses. Many subscription services offer family or group plans, so you can split the cost with family or friends. Also, take advantage of promotions and discounts.
Many services offer student discounts, cheaper annual plans, or cashback deals that help you save money. To avoid getting stuck in auto-renewals, set up auto-reminders to prevent unexpected charges for subscriptions you no longer need.
Review All Your Subscriptions
Before you figure out how to save money, you need to know where your money is going. Sometimes, old subscriptions keep charging your credit card every month without you realizing it.
Check your bank statement or use apps that help track subscriptions. If you find one you no longer use, cancel it immediately. For example, if you have two music streaming services but only use one regularly, it makes sense to drop the other.
Look for Free Alternatives
Not all premium subscriptions are necessary. Many apps and services have free versions that are good enough for your needs. Spotify and YouTube Music have free versions if you don’t mind ads.
Google Drive and Dropbox offer free storage you can use before upgrading to a paid plan. For graphic design, Canva and Adobe Spark provide free plans. If you don’t need advanced features, there’s no reason to pay for a subscription.
Use Family or Group Plans
Many subscription services offer family or group plans that are cheaper than paying for individual accounts. Spotify and Apple Music offer family plans that allow you to share costs with family or friends. Netflix and Disney+ have plans that support multiple users, making it easier to split expenses.
Microsoft 365 and Google One also provide family-sharing options for cloud storage and productivity tools. You can save a significant amount by joining others in a shared subscription.
Take Advantage of Promos, Discounts, and Annual Plans
Subscription services often offer discounts, especially for new users. If you’re a student, many services provide student pricing at a lower rate, such as Spotify, Apple Music, and Microsoft 365.
For long-term savings, paying for a full year upfront is usually cheaper than monthly payments. Some apps also have referral programs that offer free months or discounts when you refer a friend. Additionally, some banks provide cashback or discounts when you use their credit card to pay for subscriptions.
Avoid Auto-Renewals and Use Reminders
One of the biggest subscription expenses happens when you forget about auto-renewals. Before you know it, you’ve been charged for another month of a service you don’t even use.
To prevent this, turn off auto-renewal if you’re unsure about continuing a service. Use a calendar reminder to alert you before a subscription expires.
You can also try using prepaid gift cards to prevent automatic recharges on your account.
Negotiate Lower Prices on Subscriptions
Some companies are willing to offer discounts if you ask. If you’re considering canceling a subscription, try reaching out to customer service to see if they can provide a better deal. Many businesses would rather keep a paying customer at a discounted rate than lose them completely.
For example, cable and internet providers often have retention offers if you express interest in switching to a competitor. The same applies to some software and streaming services—simply asking can sometimes get you a reduced rate.
Rotate Your Subscriptions
If you don’t use multiple streaming services all the time, consider rotating them. Instead of paying for Netflix, Disney+, HBO Max, and Hulu all at once, subscribe to one service for a month or two, watch everything you’re interested in, then cancel and switch to another.
This strategy prevents you from paying for multiple platforms you’re not actively using while still giving you access to the content you want.
Use Subscription-Sharing Marketplaces
Several platforms now allow people to split subscription costs with others. Websites like TogetherPrice and Spliiit let you find groups to join for shared subscriptions, helping you get premium services at a fraction of the price.
Be sure to check the terms of service for each provider before using these platforms, as some companies discourage account sharing outside of families.
Ask About Discounts for Long-Time Customers
If you’ve been a subscriber for a long time, some services offer special deals or discounts for loyal customers.
Contact customer support and ask if there are any available promos for you. For example, some internet service providers give discounts for contract renewals, and some cellphone providers offer lower-priced plans for existing customers.
Managing your subscription expenses doesn’t mean giving up all the things that bring you happiness or convenience.
The key is to choose only what you truly need and find smarter ways to maximize every dollar you spend. Review your expenses, identify where you can save, and make sure each subscription is worth the cost.
