Couple Money

Why You Need to Review Your Subscriptions

cash to save

Managing your cash flow is a pillar of good personal finance.

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As we heading into the last trimester in a couple of weeks, we're now looking at our finances a little bit closer. We've both noticed while we're doing well on saving, we're spending a bit more day to day with our checking account.

Last week I looked at 2 reoccurring expenses to see if we still wanted to keep them around. One of them made the cut, but the other had to go.

Examining Our Monthly Subscriptions

Star Trek Online

I'm a Star Trek fan so when I saw the description for the game; I knew that I had to sign up for the game:

In this massively multiplayer online game from Cryptic Studios, players can pioneer their own destiny as Captain of a Federation starship. Or they can become a Klingon Warlord and expand the Empire to the far reaches of the galaxy.

I've played the game off and on and it is a lot of fun. for those not familiar with some online games there is a monthly fee associated with game. Depending on how frequently you pay, you can get a small discount.

Right now the subscription prices in the US are:

After looking at my gaming habits and considering how little time I'll have in the next few months, I decided to cancel my subscription for now. I'm not crazy about this, but I would be happier having that money redirected to one of our financial goals for the year.

I'll look into this again later when I have a better idea of what my schedule will be like. Maybe I'll wait to save up for a lifetime subscription or maybe I'll decide that it's not worth it. We'll see how that turns out.

Netflix

We've cut back to just broadcast for our cable and we supplement our entertainment selection with Netflix. We use the PS3 and my laptop to watch our movies and I have to say the service has been great.

We had a trial for 2 DVDs at a time plus streaming, but we decided to downgrade a notch to save money and keep our Netflix. So far it has worked really well for us. Right now, here are prices for the subscriptions:

We get a lot of value from it and saved quite a bit of money since we've cut back on going out to the movie theater. A movie has to be really exciting for us to want to spend the money to see it opening weekend.

We've also invited friends over for movie night, so we still get to hang with others while savings some money. After reviewing the costs with the savings we have by reducing our cable bill, we'll continue with our Netflix subscription.

Thoughts on Recurring Bills

How about you? How often do you review your recurring bills and subscriptions? Where have you spent money and where have you cut costs?

Photo Credit: Jayson Ignacio

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