I Cancelled 4 Subscriptions This Summer — Now I’m Saving $2,640 a Year
Suffering from subscription overload and looking to cut costs?
Gordon Stein is a certified financial education instructor and the author of Cashflow Cookbook, a guide to building wealth by trimming expenses without sacrificing anything in the process. He recently cancelled some of his own subscriptions — and he doesn’t miss them.
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“My tagline is Wealth. Minimal effort. Minimal Sacrifice. No budgeting,” Stein said.
Here are four subscriptions to which Stein gave the pink slip, as well as cheaper alternatives he implemented.
Spectrum Cable
Total savings: $660 annually
Stein cancelled his Spectrum cable subscription ($145 per month) and opted for YouTube TV ($90 per month). While YouTube TV may not include niche cable channels like A&E and History, you’re likely to access programs from those networks on other streaming platforms already. For Stein, YouTube TV has been a better experience that resulted in one less remote control and a savings of $55 per month.
The Wall Street Journal
Total savings: $144 annually
Stein was paying $12 per month for a subscription to the Wall Street Journal. However, “I realized I can get all the news I really need without a subscription,” he said. So he cancelled it.
Spectrum Home Internet 1GB
Total savings: $900 annually
Most people make the mistake of thinking they need the fastest internet available. But, after a quick conversation with his provider, Stein realized that for one to two people with basic internet needs, 100MB is plenty. So he cancelled his former plan and signed up for a new one with his same provider — which also allowed him to take advantage of a special promotional rate for the next 12 months. His bill went from $105 per month for 1GB of speed to $30 per month for 100MB of speed. And his web surfing experience remains unchanged.
Former T-Mobile Plan/Standalone Netflix Subscription
Total savings: $936 annually
Stein was paying an astronomical $145 a month for his T-Mobile bill so he cancelled it and switched to a newer plan for $80 per month — which also included a Netflix subscription, so he was also able to cancel that. He had previously been paying $13 per month for Netflix. All total, his monthly expenses decreased by $78.
The Final Tally: Stein is saving a grand total of $2,640 annually.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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