Ready To Quit the Subscription Lifestyle? Here Are 5 Things You Should Do

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Subscriptions are taking over bank statements across the country. Fortunately, there’s hope for your savings. If you’re ready to say goodbye to subscription bloat, we’re covering five steps to help you step away from the sub.

Start With a Subscription Audit

The first step to breaking free from the subscription lifestyle is to take a hard look at the subscriptions you currently have. Take a pen and paper or pull up a spreadsheet and write down everything you’re paying for right now. Write out things like streaming services, magazines, meal kits, gym memberships, and other optional services you pay for on a recurring basis.

Ask yourself if you’re using it enough, if it’s worth the cost, and if there’s a free alternative you can use. Dissect the value of each subscription and be honest with yourself about whether spending money on it still makes sense.

Set a Budget for Discretionary Spending

Once you’ve audited your subscriptions, it’s time to establish a discretionary spending budget. This should include all non-discretionary expense categories, including entertainment, dining out and yes — subscriptions. It’s unreasonable to assume you’ll get rid of every subscription; the goal here is to eliminate them down to bare bones so you aren’t spending on things you don’t need or barely use.

If you stick to this budget, you’ll start paying more attention to how and where you spend your money. Instead of thoughtlessly subscribing to a new streaming service or meal kit, you’ll be more likely to stop and consider whether the trade-off of money and time makes sense for your financial goals.

Find Free Alternatives

By free alternatives, we also mean free subscriptions — there are many subscriptions that offer generous trial periods you can take advantage of. It’s extremely important, however, that you set up alerts, alarms, or whatever else you need to remember to cancel before the trial is up. Otherwise, this is more of an anti-hack than anything. But we’re also referring to free ways to learn to relax after a long day or workout, like YouTube, instead of paying for Netflix or a gym subscription.

Embrace a Minimalist Mindset

This is the perfect time to stop and think about what really makes you feel happy and fulfilled. Refocus on quality, not quantity, both for subscriptions and for your life at large. Adopting minimalism in other areas of your life will help you avoid the temptation of subscriptions because you’re more likely to think about whether you need something rather than simply want it.

Invest More in Experiences

Instead of purchasing a monthly box of unnecessary products or streaming services, spend that money on experiences that leave lasting memories. Anything from cooking classes to a weekend getaway could be just the thing to help you put those subscription prices into perspective.

Try this: take any money that you’d typically spend on subscriptions and save it for at least a few months. When you’re done, use all that money on an experience that you won’t forget. Chances are you’ll recall that experience the next time you’re tempted to sign up for another subscription.