Yahoo Finance How to Save Money on Subscriptions
Subscription services and products are becoming popular solutions to many everyday problems. Whether you're cutting the cord or using the service simply for convenience, there is a subscription to fit most needs.
Beauty lovers are engrossed over the opportunity to try new products every month through services such as Ipsy and Scentbird. TV buffs are slimming down their cable services for streaming platforms like Hulu, Netflix and HBO Go. Busy singles and families alike opt for grocery delivery services such as HelloFresh, Blue Apron and Instacart to assist with their daily grocery needs. No matter your budget, needs or desires, there is a way to make subscriptions work for you.
But with their ease of use and relative convenience come subscription costs and other fees. Here's what to know about saving money on subscription services.
[See: 10 Ways to Save More in 2019.]
How to Save on Subscription Services
If you don't use it, unsubscribe. This may sound extremely straightforward, but many subscribers often forget upcoming deliveries, which cause unnecessary purchases if the products aren't needed at that time. The same advice applies to streaming platforms. If you are using a platform to air the newest shows like "Shameless" or "Game of Thrones," it is possible to pause or cancel your service when the series ends.
Use your "skips." In lieu of completely canceling a service, many platforms allow for you to "skip" a delivery. This can be great if you opted to hit the grocery store that week and don't need your meal kit or are leaving town, and the food will go to waste. This feature can also be beneficial for those who subscribe to specific products such as razors, tampons and other items. You won't always be at the perfect point for a new box, and it's up to you, the consumer, to be in charge of both your subscription and your wallet.
Refer your friends. If you've ever been asked a question about a product or service related to your subscription, let the company pay you for sharing their service . By sharing the user code that you can often find in the app or website under your account settings, subscription companies will credit your account for the users you sign up. Instacart provides up to $50 off for sharing your custom grocery code. On the same note, if you're signing up for a new subscription, ask one of your friends for their custom code and save a few bucks on your first order.
Track your subscriptions. Life can be hard to keep up with, and it's totally understandable if you forget about every single thing that is going on, let alone a subscription box that only comes four times a year. Use apps like SubscriptMe, Truebill or Trim to help you track all of your subscriptions and remind you of upcoming payments.
[Read: 7 Ways to Earn an Extra $1,000 This Month.]
Savings Tips for Each Type of Subscription Box
Beauty. It's pretty much a guarantee that if you're signing up for a beauty subscription box, you're going to end up with at least one product you don't love. Get together with your friends who also get beauty boxes and swap items. After all, one person's trash is another person's treasure.
Clothing. Send the items you don't want back. Don't get lazy and forget to return any unwanted items. Not only will you be charged for all the items you'll keep, but you'll end up with items that clog your closet and don't get used. Marie Kondo would not approve.
Grooming. Everyone's grooming habits are different and so is their skin. Some grooming products won't work for your skin, and you should cancel, edit or change up your subscription to find something that fits your needs.
Seasonal. Boxes that come every quarter or so are typically those that offer up full-size, valuable products. While you can't typically return items in your box, nobody is stopping you from regifting that $80 bangle that was included in your $50 subscription box along with other goodies. Save your money on a gift and clear some space on your shelves.
[See: 10 Ways to Protect Yourself From Online Fraud]
Streaming subscriptions. Share with your friends. Everyone knows that one person who uses a friend of a friend's Netflix account. Don't be that person. Get together with a small group of your friends and split the responsibilities of your streaming subscriptions. You'll get the best of all the platforms that way.
Grocery. It's OK if you have leftover items that you weren't able to eat. Maximize your spending by saving what you can and putting it in the freezer for later use. Don't forget to check your individual platforms for weekly coupon savings.
There is no doubt that subscription services offer a chance at convenience, new product discovery and budgeting, but they can also hit your wallet in ways that weren't predicted. By using these savings tips for your subscription services, you'll be able to take charge of your finances and get your money's worth from each monthly expenditure.
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