- Streaming services can be a more affordable alternative to cable.
- It may be time to cancel one or more of those services if you’re wasting them or are struggling with bills.
It may be time to rethink your approach to entertainment.
Whether you use them in place of cable or in addition to it, streaming services can be a great source of entertainment. And since many come at a reasonable price point, it's easy enough to justify their cost.
But there may come a point when it's time to dump a streaming service or two. Here are three signs you have too many subscriptions.
1. You pay for services you rarely use
It's one thing to pay for numerous streaming services you use frequently. But if you're paying for services you barely use, then you may be throwing your money away.
Make a list of your favorite shows, or the ones you watch most often. Then, figure out which streaming services they're attached to. You may find that you can easily get rid of one service and still be left with plenty of content to access.
2. There are services you've forgotten you have
You may decide to keep a streaming service you don't use often because it provides for the occasional hour of entertainment. And if that rarely-used service fits into your budget, there's nothing wrong with treating yourself to it.
But if you have streaming services you actually never use, or haven't used in months, then there's really no sense in paying for them. Perhaps some of your favorite series weren't renewed, or a show you like is coming back, but not for a number of months. In that case, it could pay to cancel a given service and sign up again at a later point in time.
The great thing about streaming services is that they generally don't force you to commit to a long-term membership. So it may be easy enough to cancel a subscription, sign up again for a month to binge-watch a specific show you've been waiting for, and then cancel again.
That said, it's worth noting some streaming services will give you a discount if you prepay for a year at a time. Before you cancel a service, make sure it isn't paid up until a certain point already.
3. Your credit card bills are getting out of hand
Individually, streaming services tend to be inexpensive. But collectively, they can cost a lot.
If you've been having trouble keeping up with your credit card bills, then it may be time to rethink your spending habits across the board and start making some cuts. If you're paying for multiple streaming services, it could make a lot of sense to unload one or two before you're forced to start making changes to other spending categories, like the weekly restaurant meals you like to enjoy with friends.
It's not uncommon to have more than one streaming service at the same time. But do you really need four or five different options? Probably not. Think about what you might do with the money you save by dumping a streaming service -- and consider canceling one or more if the above factors apply to you.
Alert: highest cash back card we've seen now has 0% intro APR until 2025
If you're using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.
In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2023 The Ascent. All rights reserved.