DON’T PAY MONEY FOR NOTHING!

From gym memberships and TV streaming services we don’t use, we could be wasting a lot of money on subscriptions. Here’s how to streamline your sign-ups…

very month, we E Brits are pouring £553million down the drain on subscriptions we rarely use. According to Topcashback.co.uk, who did the survey, our most unused subscriptions are (you guessed it!) gym memberships as well as TV and music streaming services. So whether you’ve forgotten what you signed up to, or you keeping promising yourself that you’ll use that membership, it’s time to get savvy with your subscriptions and save an absolute fortune!

REVIEW YOUR SIGN-UPS

“Every couple of months, review your subscriptions and be sure about how much you’re paying and whether you use the service enough,” says Natasha Rachel Smith, consumermoney expert for Topcashback. co.uk. “Look at what comes out of your account monthly to pay for your subscription, then divide it by 30 to work out how much you’re paying per day and assess whether you’re getting good value for money.”

TRY HAGGLING

“Once you’ve decided on what subscriptions to keep, try haggling the price,” says Natasha. “If you’ve been with the provider for a while, asking what they can do with your monthly cost can reap huge rewards. If that doesn’t work, and you’ve seen the provider offering attractive new deals, cancel your subscription (if you’re not tied into a contract) and rejoin to make the most of the discounts on offer.”

LOOK AT COMPETITORS

“If you feel as though you’re paying too much for a particular subscription, it’s worth checking to see if there’s a cheaper alternative,” says Natasha. “For example, you could change from your current gym to a budget one that has fewer luxuries, but offers more or less the same equipment and service.”

CONSIDER SWITCHING TO PAY-AS-YOU-GO

Pay-as-you-go could be a good option if you don’t use a service regularly, but still want the option of using them. “Some consumers are now cancelling and renewing subscriptions, such as Netflix and NOW TV, as and when they need them, or for when their favourite shows are available. You can also check out pay-as-you-go gyms, or if you want to save even more money, exercise outside in the park or in your living room for free and ditch the gym completely.”

SHARE THE COST

If you and your family and friends all use Spotify and Netflix, you can share your account and save. “Spotify Family allows you to have up to five accounts on one plan of just £14.99 a month. And Netflix Premium, which is £9.99 a month, allows you to watch on up to four screens at the same time, working out at just £2.50 per person.”