Is Amazon Prime Costing You More Than It's Worth? Here's How to Tell

Amazon Prime membership costs $139 a year or $14.99 per month. If you're budgeting every dollar these days, that's a chunk of change. You may wonder if what you receive in return is worth the amount you shell out. Asking yourself these seven questions can help you decide.

1. How often do I make an Amazon purchase?

If you rarely buy from Amazon, Prime may not be worth the $15 a month. However, if you regularly order from the online giant, chances are that a Prime membership will save you money.

Depending on the size of the item you buy and how quickly you want it to arrive, Alphr.com reports that shipping can cost up to $12.99 (or more if ordered through one of Amazon's third-party sellers).

Let's say you average a couple of monthly purchases and pay shipping costs of $6 each time. If you purchase an annual membership (which reduces the monthly fee to $11.58), you will be money ahead by becoming a Prime member.

2. Am I currently paying for streaming entertainment?

When it comes to streaming services, Prime Video is up there with the big boys. Not only can you view thousands of movies and TV shows, but Amazon originals like The Marvelous Mrs. Maisel and Daisy Jones and the Six are also free to stream -- and they're all ad-free.

If you're currently a Netflix subscriber, you're paying between $7 monthly for basic Netflix with ads and $20 monthly for Netflix without ads. A Hulu subscription runs from $8 to $15 monthly, depending on whether you want to deal with ads, and Apple + sets you back by $8 per month.

If you're not thrilled with any of the streaming services you pay for, try Prime Video out for long enough to determine whether you can replace an existing streamer with Amazon Prime.

The same is true for Prime Music. With access to over 2 million songs and podcasts, Prime Music can easily replace a streaming music service like Pandora, currently priced at $10 per month.

3. Have I ever been burnt by buying clothes online?

How often have you purchased a new piece of clothing, shoes, or other accessories, only to leave it in your closet because you don't like it as much as you initially thought you would? Anything you don't use represents a waste of money.

Try Before You Buy allows you to "test drive" products at home. With Try Before You Buy, Prime members can order up to eight items of clothing, shoes, and accessories and try them out at home for seven days. And since you'll only be charged for the items you choose to keep, you may just end up with a little extra to tuck away into savings.

4. Am I currently paying for photo storage?

With Amazon Photos, you can save and share unlimited full-resolution photos. What's more, you can share unlimited storage with up to five people. If you're currently paying for Google Drive or iCloud storage to house your photos, that's a cost you can cut.

In addition to storing photos, you'll get 5 GB of space to keep videos and files.

5. Am I paying too much for medication?

Amazon Prime Rx can be a real money saver for Prime members, saving them up to 80% on prescription drugs. Prime Rx can be useful if you don't currently have insurance, your deductible is higher than the cost of becoming a Prime member, your medication isn't covered by insurance, or your copay is higher than the price you receive as a Prime member.

6. Do I spend a small fortune on reading material?

Prime members get access to a huge digital library of books, magazines, and comics through Prime Reading. If your reading habit is draining your checking account, as a Prime member you can check out 10 titles at a time, choosing from digital books, magazines, and audiobooks.

In addition, you can take advantage of a program called First Reads. With First Reads, you're able to choose one book monthly from a list of new releases.

7. Can I afford to become a Prime member?

There may be a solution if you're worried about the membership cost. Anyone with an EBT or Medicaid card can purchase a Prime membership for $7 monthly. And if you're a student at an American university and have a .edu email address, you can sign up for a six-month trial of Prime Student for free. After that six months, you'll pay half price to keep your membership going. That's $70 per year or $7.50 monthly.

It's easy to overlook Prime benefits beyond free shipping. However, Prime members receive much more. You can only know that Prime is right for you if the perks you'll take advantage of are worth more than the cost of membership.