Monday, February 27, 2023

Are you paying for subscriptions you aren't using?

One of the great things about streaming is the amount of content that you can access. A lot of the content is free, though ad-supported, and can offer much to watch at an excellent price (free is excellent).

The downside of free, ad-supported television (FAST) services is that not everything is available free. A lot of free content is excellent, but some content is only available via a paid subscription service.

Many people think that they must subscribe to a lot of services. And, I suppose that some must. But I don't have to, and it's likely you don't either. Or, if you do, you may not need as many as you actually have.

A recent study by C+R Research indicates that many people subscribe to services they don't even use:

On average, $86 per month was the initial amount consumers estimated they spent on subscription services. 

But upon closer look at their itemized expenses, the average monthly spend for consumers was more than 2.5 times the amount they thought at $219 – a whopping $133 higher than their original estimate. Almost one-third (30%) of the people underestimated by $100 to $199 and nearly a quarter each underestimated by less than $25, $25-$99, and $200 or more. 

That shows how easy it is to run up your bill a lot higher than you realize. The study also indicates that Gen Z streamers are far more likely to forget about the subscriptions than Baby Boomers. That's because we Baby Boomers are much more aware of spending and where our money goes. Kids could learn from us.

Spending less money than necessary on streaming (or anything really) means more money for things you'll actually use and enjoy. It's possible to save a lot of money in your Streaming Life, and save it for other things.

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