Netflix vs. Hulu: 4 Hacks to Get the Most Value from SubscriptionsDeals The List
If you binge watch, stream music, or shop in bulk – it means you have memberships. But unless you really watch how many clubs and subscriptions you have, you could be wasting money! We spoke with marketing expert Ali Craig who shared three way you can maximize your memberships.
1. Pay Monthly
The first way to get the most value from your memberships is to pay monthly! “You're going to be spending more money,” Ali admits, “but studies show that if you do pay up front, you're going to use the membership for the first couple of months [and] then it kind of just sits there.” The psychological pain of seeing that payment withdrawn is what keeps you motivated! “You're more likely to use the membership every single month for the entire length of your membership,” adds Ali. “So hopefully you're getting more benefits out of it.” Who knew spending a little more could get you a lot more value!
2. Make a List
Next, make a list of all your memberships and eliminate redundancy. Ali mentions media streaming as an example: “Netflix has a show you like that Hulu doesn't. Amazon Music has an artist you like that Apple Music doesn't. So it's easy to end up having multiple music, multiple TV, [and] multiple shopping membership sites.” Redundancy means you'll pay more, and you'll enjoy those choices less. So should you really give up some subscriptions? “Studies are showing that the less choices you have, the simpler your options are, the happier you actually are,” explains Ali. Welp, we guess it’s time to downsize!
3. Killing the Membership Doesn't Kill the Goal
Getting rid of redundant subscriptions is hard, so remember that killing the membership does not kill the goal. “Why do you get a membership to Costco? Because you're gonna have all these friends and family over to feed,” insists Ali. And the gym? “If I have it, then I'm gonna lose weight, I'm gonna get healthy, I'm gonna take care of myself,” she continues. What you're connected to isn't that store or club – it's the narrative. “We're emotionally attached to the story. We don't want to get rid of the membership 'cause we feel like it's gonna be giving up on our dream.” So buck up! “Force yourself to be logical and not emotional in these decisions. And you realistically haven't used the membership – get rid of it.” Well said, sister!
4. Friend Up
Ali’s final recommendation is to friend up! “Pool your friends,” suggests our expert. “See who has what membership and where – and if you can use it and share it, why not?” Okay, we know this happens all the time, but it puts you in a legally ambiguous area regarding the Computer Fraud and Abuse Act. So don't go nuts! But splitting the cost of that pallet of toilet paper from Costco with a friend probably won't have the Feds knocking on your door. “There's no need to purchase an entire new membership for one or two products that you love that they can easily purchase for you.” Thank you for being a friend!
There's a reason we love memberships – and now you know how to maximize ‘em!
BONUS: Tricks Companies Use to Make You Pay More Money!