Subscriptions can be excellent because they can give you things you need, but sometimes you can get overburned with subscription payments that leave your wallet dry. It may be time to look at what you’re spending money on, how to minimize your SaaS Subscriptions, and save a considerable chunk of money.
You can save a lot of money by paying attention to renewal times, paying for a year upfront, scaling back features, rotating out subscriptions, asking about specials or time-outs, sharing your subscription, finding free things, doing away with what you don’t need, and buying individually rather than through a subscription.
The article below gives you some pointers on managing your subscriptions and saving money.
How a Subscription Starts
Subscription services took a lesson from credit card companies in hooking customers. SaaS services and other subscriptions offer you something to sign up for. It can be seven days free, free shipping, or a significant discount on your first two shipments. In addition, most subscriptions are automatically deducted from your bank account or credit card.
They count on you forgetting to renew. They also count on you using it less than you thought you would. It may start all with you using it all the time, and then your use of it slows down after the newness wears off.
How Subscriptions End
Many subscriptions are difficult to cancel. Some require two or three days’ notice before your billing date to cancel. Others have a particular number or website you visit to cancel. Usually, these websites keep asking questions with bonus offers to retain you as a customer, delaying the inevitable.
Many people don’t understand there is a middle ground between starting and ending subscriptions, and that is where you save money.
Saving Money on Subscriptions You Love
You can save money on subscriptions you love without canceling them in six ways. You can:
- Paying for a subscription in advance
- Deleting special features or extra services
- Rotate subscriptions
- Getting a special or implementing a time out
- Sharing your subscription
Pay In Advance
Many subscriptions, particularly web hosting services or online SEO, will offer a substantial discount if you pay for it for an entire year. This can save you a lot of money if you can afford it.
SaaS subscriptions are well known to offer unique features like deep analysis. They will also provide access to multiple devices for another fee. You can probably live without that. You don’t need every subscription on every device and don’t need enhanced services if you don’t know how to use them.
You don’t have to have all your subscriptions all the time. You can rotate them out. Each offers something different, so use one for a couple of months, then switch to your other favorite. It’s okay to unsubscribe and resubscribe. They may even offer you a discount to come back.
Seek Specials and Time Outs
Sometimes, a subscription service will give you a discount if you even hint at unsubscribing. Start the unsubscribe process and see what they offer. Other SaaS services will allow you to do a “time out” so you won’t be billed. You aren’t unsubscribed but won’t have access until you are ready to come back.
This is an excellent option because all your selections and information remain intact. Just be sure to know when the time out will end because they will charge you again on that date.
Some SaaS subscriptions can be put on multiple devices for the same price or a lower price than paying for separate services for each device. This makes sharing with friends or family doable.
What to Do Instead of Subscriptions
You don’t have to have a subscription to get what you need. Many free software applications can keep you updated. It pays to evaluate how much you use each service and eliminate what you aren’t using. You can always rejoin later.
Many people have a difficult time breaking up with their SaaS subscription provider. It is a bit psychological because they are used to it being available, even if they don’t use it much. They also don’t like thinking about needing to make a choice.
It could be best to pay for some things as you go rather than a subscription. This can be done for SEO, plagiarism detection, grammar, or analytic software.
Subscriptions offer many conveniences but can cost substantially if you aren’t using them regularly or don’t need the products and services they provide. You can cut back any number of ways without compromising your quality of life. You will enjoy the extra money in your bank account more.