How to Save Money on Streaming Services
Are you looking for ways on how to save money on streaming services?
The rise of streaming services has brought endless entertainment options right to our fingertips. But with so many platforms offering exclusive content, subscribing to multiple services can quickly add up and hurt your budget. So, is it possible to enjoy all the shows and movies you love without breaking the bank?
The answer is yes!
In this blog post, we’ll show you some simple yet effective ways to save money on streaming services.
Ever since the OTT platforms have started dominating the entertainment industry, I and my husband being an absolute content consumer skipped going to the theatres.
We have subscriptions of multiple streaming platforms. Initially, we enjoyed watching them during the covid as there was nothing much to do and all these streaming platforms were the only source of entertainment.
But as the world started to get normal and offices resumed, we hardly had the time to watch content on these streaming platforms.
Few months ago, while tracking our expenses we found we went out of budget in streaming platforms. There were too many subscriptions that we had which we no longer use.
Eventually we cancelled around 4-5 subscriptions of streaming platforms and this is how we saved money. But there are several other ways where you can save money on streaming services yet enjoy watching movies and series.
How to save money on streaming services
Assess your needs
Streaming services have become a staple in many households, but with so many options available, it’s easy to start feeling the strain on your wallet.
The best way to save money on streaming services is by assessing what you need and use. Start by evaluating what content you really want or need and how often you watch it. Are there specific shows or movies that are must-haves, or are you more casual about what you watch?
Consider narrowing down your options as much as possible to avoid spending money on services. Once you have answered these questions, compare plans from various services and see which one aligns with your viewing habits. Assessing your needs will help save money by avoiding unnecessary subscriptions.
Take advantage of free trials
The advent of streaming services has transformed the way we consume content, providing us with a wealth of options tailored to our preferences.
Whether it is binge-watching beloved TV shows or exploring new movies, there’s something to cater to every taste. However, the proliferation of streaming platforms means that subscribing to each one can strain our wallets.
Thankfully, most streaming providers offer free trials to potential customers. These trials typically range from 7 days to a month, granting full access to their extensive content libraries at no cost whatsoever. This presents a fantastic opportunity for individuals on a tight budget or those seeking to test various platforms before committing to long-term subscriptions.
By taking advantage of these trial periods, you can effectively evaluate whether a subscription is worth the investment in the long run.
It allows you to gauge the quality of content, user experience, and overall value provided by the streaming service before making any financial commitments.
So, make the most of these trial opportunities and make informed decisions about which subscriptions align best with your entertainment needs and budgetary constraints.
Share accounts
Sharing accounts for streaming services is a great way to reduce costs and save money.
Whether it’s Netflix, Hulu, or Amazon Prime Video, sharing an account with friends or family members can help you access all of your favorite shows and movies while splitting the cost. Many streaming services allow multiple users to access one account for no additional cost.
But before you start sharing your login information with everyone you know, it’s important to keep in mind some potential drawbacks. If too many people are using one account simultaneously, it could lead to slow loading times or buffering issues.
Be sure to discuss which streaming service you plan on sharing, decide who will be responsible for paying each month, and set up guidelines regarding password sharing.
Look for bundle deals
One of the biggest challenges for people who love to stream movies and TV shows is the cost. One of the best tips for saving money is to look for bundle deals.
Numerous companies provide their own streaming services alongside other subscription offerings like internet or phone plans.
By opting for these bundled packages, you can frequently secure a discount on your monthly expenses. Compared to subscribing to these services individually, these bundled options often prove more affordable.
Take, for instance, the Amazon Prime Video and Music Unlimited bundle, which is priced at $8 per month for non-Prime users and completely free for Prime members.
This arrangement presents a cost-effective solution for enjoying an extensive library of video content and a vast music collection while saving some money along the way.
Use discounts
Streaming services commonly provide various discounts that enable users to both save money and access high-quality content. Opting for an annual subscription instead of a monthly one can result in savings of up to 20%.
Additionally, many streaming platforms offer free trial periods for new customers or discounted rates specifically tailored for students or military personnel. By verifying your eligibility with the service provider, you can unlock substantial monthly savings.
It is crucial to keep in mind, however, that while leveraging these discounts can yield immediate financial benefits, it remains important to exercise caution and diligently budget when subscribing to multiple streaming services.
Consider ad-supported options
Ad-supported alternatives are frequently overshadowed by ad-free subscriptions. Despite concerns about sacrificing uninterrupted viewing for modest monthly savings, these platforms present a budget-friendly solution that does not compromise on quality content.
Surprisingly, many of these ad-supported options showcase exclusive programming and original content available solely on their platforms. Leading platforms like Hulu and Peacock offer ad-supported choices with different levels of commercials and pricing tiers to cater to individual preferences.
Although sitting through commercials during binge-watching sessions may irritate some, others consider it a minor trade-off for the money saved.
Pause subscriptions
Pausing your subscriptions can be a great way to save money on streaming services without losing access to the content you love.
Whether you are looking to cut back on expenses or just want to take a break from binge-watching, pausing your subscription allows you to temporarily suspend your account while keeping all of your preferences and watchlists intact. By pausing one service at a time, you can rotate between them and only pay for what you need when you need it.
So, if you find yourself with too many monthly bills for entertainment services, consider taking a step back and hitting pause on one or two of them.
For example, if you usually binge-watch Netflix during the winter months but spend more time outdoors in the summer, consider pausing your subscription for a few months.
Watch out for hidden fees
Streaming services are the new norm for consuming visual entertainment in today’s digital era. But, did you know that some streaming platforms charge hidden fees?
When choosing a streaming service, ensure to read every term and condition to avoid getting swindled. some streaming services require users to pay extra for advertisement-free viewing or access to exclusive content.
Other platforms offer free trials before starting automatic billing cycles if not cancelled in time. Similarly, many providers bundle together packages with additional channels and monthly costs.
Cancel unused services
sometimes we find ourselves subscribing to multiple platforms that we hardly use. These unused services can cause us to run up bills without getting any real value from them.
The key is to regularly audit your subscriptions and assess which ones you are actually using. Ask yourself if the fee for each platform justifies the content they offer or if there are other alternatives out there that better cater to your needs.
For example, if you signed up for HBO specifically to watch Game of Thrones but have not used it since the series ended, then it might be time to cancel your subscription.
Cancelling unused subscriptions can free up some extra cash each month that could go into other essential expenses – such as paying off debts or saving money for emergencies, making life less stressful.
I have cancelled 5 streaming platforms just after the pandemic and have made a significant change in my savings. It is minor but crucial too.
Avoid purchasing digital content
If you are already subscribing to multiple streaming services like Netflix, Hulu, and Amazon Prime Video, chances are most of the content you would want to purchase is already available through these platforms.
Many streaming services regularly rotate their library of available titles so there is always something new to watch.
By avoiding purchasing digital content and sticking with your existing subscriptions, you can save hundreds of dollars each year while still enjoying a vast array of high-quality entertainment options.
Plus, by supporting streaming services instead of buying individual pieces of content, you are contributing towards sustainable business models that benefit both consumers and creators alike.
When you purchase digital content from Amazon or iTunes, you are purchasing a license rather than ownership over the product.
That means if something happens such as getting locked out of your account or losing access to your purchased library due to disagreements between platforms and studios – there is no way for consumers like us -to retrieve their lost assets again.
Therefore, it’s best advised to avoid purchasing digital content separately if it’s available on your preferred streaming platform.
Use data-saving features
Many streaming platforms offer data-saving features that can significantly reduce your monthly bill. These features enable users to adjust video quality and limit the amount of data used per hour.
If your internet plan charges by usage tiers or levels, minimizing your streaming usage could keep costs low. Not only will this help keep your monthly expenses down, but it also ensures that your internet speed is not overused by unnecessary video content.
Streaming services like Netflix and YouTube offer different options depending on user preferences, including adjusting video quality or reducing autoplay functions.
Conclusion
We hope that this article has provided you with useful tips and tricks to save money on streaming services. From taking advantage of free trials and discounts to hunting down coupons, there are plenty of ways that you can reduce the costs associated with watching content online. Thus, start saving today.
