Happy New Year to all! New resolutions, and conversations around them, abound in nearly every corner of the media, in daily conversation, and even with your family members or coworkers. Popular themes include losing weight, eating healthy, getting organized (or more sleep), or even spending those holiday gift cards. But have you considered cutting ties with old and outdated subscriptions as your resolution this year? Why pay for it if you don’t need it, don’t use it, or don’t want it? So while planning to trim the waistline to regain your beach bod before spring break, you might as well trim a little (or a lot) off your wallet as well.

The Subscription Model

C+R Research found that Americans spend an estimated $219 monthly for subscriptions, while these same Americans erroneously estimate they spend only $86. That’s a difference of $133 dollars of unknown spending! During the global pandemic, millennials led the monthly spending rate with upwards of $300 in subscription fees. Whether your subscription is annual or monthly doesn’t really matter. What matters is—does it provide value to you? If you utilize these subscriptions to improve your quality of life, these services become a valuable tool. Leverage your household’s buying power by upgrading to a family plan or converting a more costly monthly option to an annual plan for services like Amazon Prime or Apple One.

Most unused subscriptions, rather than being canceled, are forgotten. About three-quarters of people polled by C+R Research admitted forgetting their subscriptions, while 42% admitted they stopped using a subscription but failed to cancel them. Don’t let your best intentions (or busy calendar) unnecessarily increase your monthly costs.

A New Year, A New You

The #1 New Year’s resolution is to get healthy. Do you currently have, or are you considering, a gym membership for 2024? Research shows that new habits take ninety days to take hold. So, if you no longer regularly use it by March, you will unlikely use it the rest of the year. This includes fitness apps as well, such as ClassPass or Peloton. Food trackers and recipe mobile apps are also on our radar, plus MyFitnessPal or Noom. It’s easy to click to join, but these become candidates for that forgotten subscription status already mentioned. Don’t let a minimal subscription fee sway your decision. Over a year span, a series of $5.99/month app subscriptions quickly outpace new healthy green tea or smoothie habits. Whittle some waste off your recurring spending by canceling—and then deleting—an app.

Take a Bite Out of Food Subscription Costs

Food subscriptions are also suspect, including grocery and food delivery. Don’t pay Instacart, Shipt, or Walmart+ subscription fees if you don’t utilize them frequently. Most services are also available for occasional use on a per-use fee rather than implementing recurring membership fees. Food subscriptions include passes for HelloFresh, Daily Harvest, DoorDash, Grubhub, and Uber Eats. If you’re focused on 2024 being a year of health, avoid the temptation of a late-night burger or pizza delivery that these services serve up.

Other subscriptions to reconsider include nutritional supplements, skin or hair care products, and men’s grooming kits that come directly to your mailbox. While many subscription deliveries are highly convenient, they can cost you more in the long run, both in the headache of accumulating expired items and consuming space in your home. Opt instead to lengthen the time between deliveries or simply cancel the auto-shipment.

At Organized Instincts, our daily money managers survey your household’s cache of subscriptions. Schedule a chat today to learn how our pros help whittle the waste and lift the weight off your shoulders.

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