You cut the cord to save money, right? This was the promise. But take a look at your credit card statement right now. If you’re subscribing to Netflix, Hulu, HBO Max, and Disney+, you’re probably paying about the same as you did for old-school cable.
Netflix is the king of the slow bleed. This increased the prices once again. according to Los Angeles TimesThe Premium plan is now a staggering $26.99 per month, and even the ad-supported tier drops to $8.99.
That’s more than $320 per year for the premium tier just for watching television. And honestly, half the time you’re scrolling through menus for 40 minutes before bed.
Now is the time to stop spending cash. Here’s how you fight back against the streaming giants.
1. Downgrade to advertising level
I know you hate ads. We all do it. But you have to ask yourself if skipping some ads is worth paying more than double the price. Netflix’s standard plan with ads is now $8.99 per month, while its ad-free options cost significantly more.
If you’re trying to figure out where all your money is going each month, breaking down your level is the easiest first step. You can see how they stack up against the competition in this analysis of “The 8 Most Popular Streaming TV Services – Ranked from Least to Most Expensive.”
2. Adopt the rotation method
You don’t need access to every streaming library 365 days a year. This is a waste of money. If you only watch Netflix for a specific show, buy it for the month when the new season starts, overdo it, and cancel.
Rotate your subscriptions. Pay for HBO Max in October, Hulu in November, and Netflix in December. You have to overcome the drawbacks of a streaming subscription by making smart, intentional choices. Streaming companies make their billions of dollars based on your laziness. Don’t let them do that.
3. Leave apps for your local library
If you’re paying full price for personalized services, you’re doing it wrong. Your local library card gives you access to a goldmine of free entertainment through apps like Hoopla and Kanopy.
This is a great way to save money on movies, music, and more. Before you pay Netflix directly, audit your local library’s digital offerings and start watching for free.
4. Purge the freeloaders
Netflix already prohibits password sharing, making it difficult to split an account among multiple households without paying additional fees. In fact, if you want to understand all the loopholes and rules, check out “All Netflix Password-Sharing Policies Explained.”
If you are the primary account holder, check your settings now. You may be paying an extra monthly fee for a sibling or ex-roommate who is perfectly capable of purchasing their own membership. Cut them loose. This is your money, not a donation.
5. Track your usage ruthlessly
I want you to track exactly how many hours of Netflix you actually watch this month. If it’s less than 10 hours, you’re paying a premium hourly rate for background noise. You’re probably wasting over $100 per month and you don’t even realize it, so audit your bank and credit card statements immediately. Cancel service.
If you really missed it you can turn it back on anytime within three minutes. You are never off, so stop behaving the way you are. Take control of your subscriptions before they take control of you.