Is there anything more annoying than trying to cancel a subscription or recurring charge only to be met with a series of time-consuming hurdles? Rather than meeting customer demands to court retention, companies are relying on making it so difficult to escape that consumers decide it's easier to just keep paying the monthly fee rather than wasting hours (or more) on trying to cancel a subscription.
New government regulations promise to combat this terrible trend of stealing consumers' time and money through paperwork, extreme hold times, and needless aggravations. The premise of the new regulations is that ending subscriptions should be as easy as starting them. If you can click to subscribe, you should be able to click to unsubscribe.
Subscription fees can stack up as they accumulate, putting a serious dent in your monthly budget. Not everything needs to be subscription-based, and here are some useless subscriptions you can drop today to quickly boost your bank account .
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1. Cable TV
Most of us watch only a fraction of the channels that come with our cable TV plan. The good news is that there are many ways to enjoy television shows without paying for that subscription.
Some free shows are available on sites such as YouTube or on a TV network’s website. You might have to deal with commercials, but the savings are often worth the hassle.
Switching to a streaming service also might save you money.
Own a car? Here's 7 warning signs you're paying too much for car insurance. 2. Premium streaming services
Yes, switching from traditional cable to a streaming service can sometimes save you money. But depending on your viewing habits, there are also a lot of streaming services that might not be worth the expense.
To cut the cost, look for streaming platforms that offer free entertainment or a lower cost for those who are willing to watch commercials.
3. Gym membership
Gym memberships come with a monthly expense that can really add up over a year. Instead of opting for a workout at the gym, consider putting together an at-home gym on a budget.
Or if you’re a fan of cardio, try running or walking outside instead. You’ll get fresh air and save money at the same time. It’s a win-win.
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4. Music services
Music streaming services can be a much less expensive way to enjoy tunes than buying CDs or vinyl records.
Many of these music services do come with a monthly subscription fee. But the good news is that you can often avoid this cost if you’re willing to deal with commercials.
5. Free shipping plans
Services such as Amazon Prime and Walmart+ let you pay a flat monthly or annual fee for unlimited free shipping.
Such a plan can be an excellent choice if you regularly purchase from an online retailer. But if you don’t use them often, it might be time to cancel.
And if you do cancel, remember that you can often access free shipping as long as you spend a minimum amount on your order.
6. Meal kit plans
The premise of meal kit plans is enticing: You can access home-cooked meals without menu planning or visiting the store.
However, the tradeoff is that you have to pay a monthly fee. If you are ready to commit to a weekly trip to the grocery store and a little meal planning, save money by canceling your meal kit subscription.
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It’s admirable to support journalism. But if you need to save money, canceling or pausing your newspaper subscription might be worth it.
See if your favorite news source offers free access to a specific amount of articles each month. If not, you can likely find high-quality news and entertainment elsewhere online for free.
To access a specific news source or magazine without the cost of a subscription, check with your local library. It might have free access to a digital subscription for library patrons.
8. Warehouse club memberships
Financial experts often tout warehouse club memberships as a way to save money on groceries and other expenses. However, it is important to evaluate if you are really saving money.
In many cases, you can save just as much cash at traditional grocery stores with a little strategic shopping and the use of coupons.
9. Pet services
Pets deserve the best. But if you are ready to lower your monthly expenses, consider canceling your pet subscription box.
The good news is that your pet doesn’t know if its new toy came from a subscription box or the local store. There are other ways to spoil your furry friend without paying a monthly fee.
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10. Digital games
Those who like playing games on their phone or online might have a monthly subscription to a digital-game service.
But if money is tight, it can make sense to cancel your subscription and find free versions of games instead.
Bottom line
It’s essential to separate monthly subscriptions that are important from those you barely use. You might save hundreds of dollars each month dropping the unnecessary subscriptions.
Eliminating these extra costs is a great way to reduce your financial stress during trying times.
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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