Personal Finance

6 tips to curb your digital subscription addiction and start saving money

Digital streaming and subscription costs are poisoning U.S. households' savings. Here's how to guard your bank account

ByBrian O'Connell

Share to XShare to FacebookShare to RedditShare to EmailShare to Link

Published 12 hours ago|Updated 6 hours ago

Add Quartz on Google

Share to XShare to FacebookShare to RedditShare to EmailShare to Link

Oscar Wong via Google $GOOGL -1.16% Images

Americans are in penny-pinching mode early, with consumer sentiment in a significant slide.

One way to boost household budgets is to wage a full-frontal attack on digital subscriptions, which can grow like weeds on an Illinois prairie. One CNET survey estimated Americans spend about $1,000 on subscriptions annually. Another study from Forbes Home pegs the estimate higher, finding that Americans spend more than $1,330 per year on streaming at home.

Tackling subscriptions head-on

With Americans spending an average of three hours and 25 minutes streaming media each day (about 23 hours per week) and with those subscription costs rising (44% of people surveyed by Forbes noted at least one streaming price hike in a year), it’s high time Americans self-correct their digital streaming habits.

“$12.99 really doesn't sound like much, especially for a subscription you want and will use,” said Bob Chitrathorn, vice president of wealth planning at wealth management firm Simplified Wealth Management.

The problem, Chitrathorn notes, is that people try the subscription but often forget to cancel once they become........

© Quartz