Here at Our Green Life, it is always advised to try to keep your expenses under control as best you can. This is because out of all things affecting your financial well-being, this is the easiest to control. The subscription-based model is being used by many companies out there to keep income flowing. While some subscriptions are worth their while, others are not. How do you determine what’s worth keeping versus what’s worth chucking?

Cancel services that don’t work

If you pay for a service that does not function properly, cancel it. This can be your faulty cable or internet services. It can even be a shipping service that is always late. When you pay for a service, consider the value you are getting from them. If you are not getting any value, why should they be making any more off of you?

While you consider canceling this service, you may start shopping for another provider, one that can provide the service you deserve. While this is reasonable, I would also ask that you consider whether or not you truly need it at all. After all, you’ve been paying for something that doesn’t work for how long now. You have likely learned how to work around it so that you don’t need the service at all.

Cancel subscriptions that aren’t worth it

Sometimes we sign up for a service that we THINK has value. However, with use, you may find that the cost of the subscription outweighs the benefits of keeping that subscription. This can be a shipping or printing service that served a purpose once. But alas, this purpose is no longer. Sometimes to figure this out, you have to do the math. See how much this service is costing you per month or per year and compare it to how much it is saving you. If you find that the cost outweighs the savings, then that service can go.

Cancel services that you rarely use

This is such a pain point that your bank may already alert you to subscriptions you may no longer use. If not, take a look at your statements and identify any recurring or repeat charges. Most subscriptions charge once a month, while others may be yearly. The ones that are yearly are tougher to catch.

Let me share an example of a subscription I didn’t make use of. I used to have a massage membership where we’d pay monthly. Each time the credit card was charged, I’d get a credit where I can get a massage or facial. Self-care was a goal for me so this was great. The “benefit” of subscribing was that you paid less for a massage than if you just called and made an appointment without a membership.

This was a great service to have until my work schedule changed and I found I would go MONTHS without using my membership. Fortunately, the credits would accumulate so that I never really lost the money. However, my husband and I realized that we were better off just paying for a massage or facial when I wanted one. So if membership was $80/month but a massage cost $120/month, if I went once every two months, then it is cheaper to go without the membership.

Cancel services that encourage you to spend

If you find that your subscriptions leads you to buy food, clothing, pet toys, et cetera that you don’t need, CANCEL IT! When you manage your money and with intention, you can direct where and when you spend your money. When you let a company decide how you spend your money, you run the chance of losing control. They get to decide what comes into your home even.

Now, this is not to say that all subscriptions need to be canceled in order to take charge of your finances. However, it is wise to pay attention to recurring charges and take note if they still hold the value you gave them when you signed up. You can also consider sharing subscriptions with people close to you if that’s allowed. Take the money you save and put it towards your financial goals, whatever they may be. It can be to pay down debt, build your emergency fund, or start investing.

Now it’s your turn. Have you checked your statements lately to see what subscriptions you could make do without? Are there any subscriptions that you feel are worth keeping? Share in the comments below.

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