Joining Amazon Prime? 5 Ways to Save the Most Money

Your membership could come with a host of great deals.

These days, inflation is causing the cost of just about everything to increase. And that extends to Amazon Prime.

Recently, the cost of an annual Prime membership rose from $119 to $139. But despite that increase, there are lots of good reasons to sign up for Prime. If you're going to do so, though, then it pays to eke out as much savings on Amazon as you can. Here are five ways to save the most money.

1. Use Subscribe and Save to snag discounts on recurring purchases

Amazon's Subscribe and Save program is a great way to pay less for the items you use regularly. In fact, you can save up to 15% off recurring shipments, depending on how many items you set up to ship out automatically.

Best of all, with Subscribe and Save, you're not locked into a commitment. If you normally get a case of diapers shipped to your home monthly but want to cancel that order one month when diapers go heavily on sale at your local warehouse club, you can just log into your account and skip that delivery. As long as the item hasn't shipped, your credit card won't be charged.

2. Maintain a wish list to track prices

Amazon lets users create wish lists, and it pays to take some time to make one yourself. That way, you can see whether the items you want are rising or falling in price. And when the latter happens, you can pounce. You can also create wish lists for your kids and track prices to snag discounts on holiday gifts for them.

3. Snag credits toward digital content with no-rush shipping

One major benefit of Amazon Prime is enjoying free two-day shipping. But if you're not in a hurry to get a specific delivery and choose no-rush shipping instead of two-day shipping, you'll generally be rewarded with a credit you can use to purchase digital content.

4. Try on clothing before committing to a purchase

Amazon's Try Before You Buy program lets you order footwear and clothing for a free seven-day try-on period. Any item that doesn't fit or you simply don't like can be sent back at no cost. It's a good way to avoid spending money on items that don't end up suiting your taste or fitting the way you'd like them to.

5. Shop the Warehouse

With Amazon Warehouse, you get access to a host of pre-owned items like kitchen appliances and electronics -- only at a major discount. In some cases, you might pay up to 50% less for a pre-owned item. But rest assured that all Warehouse purchases get the standard Amazon guarantee, so if you receive an item that's not in great shape or doesn't work right, you can send it back without a hassle.

Amazon Prime is a convenient service, and if you play your cards right, you can eke extra savings out of your membership. At a time when living costs are on the rise, that's an important thing to do.