Why Going Through Your Subscriptions Is Actually Sound Financial Advice

PennyGem’s Elizabeth Keatinge tells us what to do if you are feeling overwhelmed by how many subscription services you have.

Transcript

00:00So many streaming services. A study by financial services company UBS says consumers can waste

00:10hundreds of dollars a year on products or services they're barely using. As Vox reports,

00:15some subscription services have become so integral to our lives, we almost consider

00:21them utilities. Hello, Amazon Prime and Netflix. And subscription services are growing. Shave

00:27clubs, cloud gaming and fitness fulfill different needs. Deloitte's 2021 digital media trends

00:33survey showed more than half of the 2009 respondents expressed frustration towards subscribing

00:40to multiple services to access the content they want. What to do? Cut them all out. Inspired

00:46budget founder Alison Baggerly tells NerdWallet that a subscription detox is in order. That

00:52means eliminating every subscription from your budget and determining what you truly

00:57miss and add those back in. Oh, and note which ones auto renew so you can check if you need

01:04to cancel before that date.