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Augusta, Ga. (WRDW/WAGT) – In the 70s, 80s, 90s, and even the 2010s, people only signed up for certain things each month.
Maybe a few magazines, cable or satellite television, and a local newspaper. what about today Most people have more than two dozen subscriptions, and they may not even remember some of them. And it’s costing them a small fortune. Consider this:
- Netflix is at least $10 a month.
- Live TV, streaming, cable or satellite averages around $80.
- Broadband Internet is usually $50-$100.
- Two smartphones for the family would total more than $100.
- Amazon Prime is $130 per year.
- Spotify, Apple Music or Prime Music Plus is around $10 a month.
- Then think of all the subscriptions you might have: Disney, HBO Max, Hulu, Apple TV, Online Gaming, business services like Quickbooks, Evernote, apple or other cloud storage, digital magazines and apps, calendars, games, goofy filters, and the list goes on. can
Then add all the streaming services like Disney Plus, HBO Max, Hulu and Apple TV. Someone in your home can sign up for a video game service.
You can also subscribe to apps like cloud storage, Quickbooks, digital journals and productivity apps, gaming apps, and Disney character apps.
A study by C+R Research found that the average cost of monthly subscriptions is over $200 or $2,400 per year.
It has also been proven that most people underestimate what they spend. According to the study, consumers estimated that they would be spending $86 per month when they paid more than $230 per month for a subscription.
This means that consumers forget what they are paying for. It is important to check what is coming out of your bank account each month.
View bank and credit card statements. Verify application registrations. It’s easy on iPhone, open Settings, select your account at the top, and click Subscriptions to show subscriptions and when they renew. Android users, go to the Google Play Store, click on your profile picture and select Subscriptions.
It’s a good idea to cancel any free trials for apps when you first download and sign up. Most of these renew at full price within a few days or a week.
If you forget to cancel, you’ll be charged the full price, usually for a year. That free app may have cost you over $100 by now.
If you download it for the first time and sign up for the free trial, you can use it until it’s canceled. There are apps for managing subscriptions: Mint and Rocket Money (formerly Trubill) are popular among users.
The thing about digital subscriptions is that most are set up for auto-pay, so the cost is automatically deducted from your account. According to the study, 86 percent of consumers have at least one subscription to Auto Pay.
Copyright 2022 WRDW/WAGT. all rights reserved.
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