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If you’re anything like us, subscription costs are creeping up and it’s beginning to be a considerable chunk of our outgoings. Netflix or Amazon Video. Spotify or Apple. HelloFresh or Gousto. Shall we go on? Here’s our top tips to save on your monthly subscriptions.
As we know there are many choices nowadays. Each service has at least a few offerings, all vying for your attention. Netflix or Amazon Video. Spotify or Apple. HelloFresh or Gousto. As a savvy consumer the opportunity to game these services has never been better. Each offering excellent trial offers, and discounted periods.
Gift cards can easily get lost or forgotten, plus there’s a danger of losing out if the retailer goes bust. So this next trick comes with a warning and you’ll need to weigh up whether to try it. But do it right and you may be able to save on your subscription.
Take Netflix for example, Netflix gift cards are available online and in store from lots of retailers, but there are also websites that offer discounts on them. So the idea is to buy the gift cards at a discounted rate, then use them straight away to minimise any risk. Remember, if there’s a problem with a gift card you may need to go back to the retailer you bought it from, rather than Netflix, so always check sites’ reviews and T&Cs.
The balance of your Netflix gift card will be added to your account when you redeem it, and your payments will be taken from it until the balance has been used up. If you cancel your subscription while there is still gift card balance on your account, your subscription will continue until it’s been used up.
Group subscriptions used to be hated by providers, they wanted everyone to have their own. But then grew the sharing of account details, and so out popped the group and family offerings. These are growing in popularity, allowing households and friends to split the subscription amongst themselves. Spotify and Netflix both offer group subscriptions that let you stream independently and together.
Yes, we understand this can lead to some billing problems – although solutions like Together Price cater for this. But in essence, sharing the bill between everyone in your house share will save you all a bucket load if it’s done right. You can find out more about sharing subscriptions in its own article.
If you’re always hunting for the best bargain like us, then we’re sure that you’ve found your way onto all of the internet’s cashback sites – its a MoneySaving Expert top tip to recouping some cash.
There are some great cashback sites that pay you money for shopping through their links. Try building the habit of checking cashback sites for any store you’re about to shop on or subscriptions you’re about to take out. Our picks are Quidco and Top Cashback.
While at the time of writing you can’t sign up to Netflix via the top cashback sites, if you have a cashback credit card, you could get up to 5% back if you use it to pay your bill. As always, make sure you pay IN FULL every month to avoid paying interest.
Don’t overlap subscriptions. We’ve used the Spotify V’s Apple Music example here but there are multiple offerings that cross over and offer very similar services. We implore you to choose – or those subscription charges will start racking up each month and get out of control.
Apple Music
Spotify
Now, when it comes to TV licence we would advise you to be extremely careful, but with such a host of on-demand TV subscriptions available nowadays, we find ourselves watching little or no live TV.
If you can do without the odd live TV show on the BBC, you’ll instantly save a bucket load by not needing to purchase a TV licence for your house. Not exactly saving money on your subscription costs, but a sizable cost saving all together. We’ve put together more information about TV licences in your shared accommodation which you can check out here.
Follow this, and you’ll cut £157.50 straight of your yearly household bill.
It’s quite common for ‘free’ subscriptions to be thrown in with mobile phone contracts or broadband deals. As ever with this sort of deal, it’s usually only worth it if you were already going to go for the particular contract that includes the subscription to begin with.
Talk Talk is currently offering Free Amazon Prime for a year if you take out a broadband subscription with them, so keep an eye out if you’re looking to switch mobile contracts and subscribe to something at the same time.
According to a study conducted by research company Magid in August 2018, 35 per cent of millennials share their passwords for streaming platforms. The research company found that overall, nine per cent of streaming platform users engage in password sharing.
Instead of sharing your email and your password that you probably use for everything and may cause a few blushed cheeks, create a shared house login. Some subscriptions don’t have device limits and to save some extra cash, create a shared account for you all to use.
If there is a subscription you use religiously, buy it for the year. You can save up to 60% on some subscriptions if you buy it upfront, rather than monthly. For example, Fiit is £20 a month if you subscribe monthly, but only £10 a month if you pay the whole year in one go. If you don’t have the cash to do this, try popping it on an interest free credit card. Just make sure you pay it off in full every month!
Some subscriptions are quite addictive when you first start and you really get your money’s worth (Courtney Black was ours). But our interest usually has peeks and troughs. If there is a subscription that you’re not so interested in at the minute, cancel it. You can always pick it back up again when you fancy.
All your utility bills in one monthly payment, split between housemates
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All your utility bills in one monthly payment, split between housemates
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