Are You Losing at the Game of Thrones?
How many of you started a monthly subscription to HBO to watch Game of Thrones? That series ended in 2019. Did your subscription continue? Do you use it?
The subscription model has taken off, and people are paying monthly fees for everything from razor blades to guitar lessons. Meal services are especially popular. Even for dogs! Many start out with the first month free, and assume a good portion of those that sign up won’t bother to cancel once the monthly fees kick in.
I’m all about making spending decision in line with your values. So, I decided to “audit” my subscriptions—to see if there were any ones I was paying for that no longer made sense.
Here are a few that I cancelled:
A Water App: Let me explain. I was paying for an app on my phone that enabled me to add up how much water I was drinking throughout the day. In fairness, my personal trainer had recommended the app. While I continue to promote the benefits of hydration, I can handle this one tech-free.
Peloton App: In the summer, I bike and walk outside. So, I put this on hold until the winter.
Audible: Using my accumulated credits, I downloaded several books. I may resume using the app when I am done with the books.
Ok, not earth-shattering savings, but every dollar counts.
Is it time for your subscription audit? As you review your subscriptions be honest with yourself. Are you using it, or “hope” to use it more in the future? If you are not currently getting value, cancel the subscription. The apps or services are not going anywhere. You can always reactivate.
Here are some steps to review your subscriptions.
- Check your phone. If you have an iPhone, go to Settings > Your Name > Subscriptions. You should see what subscriptions go through Apple, and you should be able to cancel those not being used. On Android phones, you should open the Google Play Store app, and check subscriptions as well.
- Review your credit card statements and checking account transactions over the last several months.
- Beware of trial offerings. Set a reminder to cancel before you get locked in.
- Check your refrigerator. Are you throwing out “fresh” meals you get weekly from your subscription that are no longer fresh?
- Review your streaming subscriptions at least once a year. Did you sign up for a package of channels from your cable provider that includes ones you no longer are watching?
How did your subscription audit go? Please email me at sreiches@rrcapital.com
Shari Greco Reiches