Are subscriptions killing your budget?
Monthly subscriptions are a way of life now, they are convenient for budgeting and avoid you having to fork out large lump sums of cash. Businesses also love offering subscription services as they love the reoccurring revenue however if you don’t keep track all the little subscriptions can really blow out your budget.
Let’s have a look at some of the most common subscription services and their cost.
- Netflix – $13.99 per month ($167.88 per year)
- Stan – $14 per month ($168 per year)
- Amazon Prime – $12.99 per month ($155.88 per year)
- Disney+ – $8.99 per month ($107.88 per year)
- Foxtel now – $25 per month ($300 per year)
- Audible – $16.45 per month ($197.4 per year)
- Spotify – $11.99 per month ($143.88 per year)
- Gym memberships – $116 per month ($1392 per year)
- Phone lease plan – $99 per month ($1188 per year)
- Meal delivery – $398 per month ($4776 per year)
As you can see the cost of a small subscription can quickly add up over a year. Stop and have a think about what subscriptions you currently have, are you using them or are they just automatically being paid each month?