If you want to save money, you may think that staying in will help you save money. However, that might not necessarily be the case.
As Dalia Chavez of Los Angeles came to realize, opting to spend the night at home can also be costly. The content creator explains in a TikTok video posted last year just how expensive it can be.
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“Why is everything so expensive?” she asked. “I don’t even have to leave the house.
“I’ll be sitting here minding my own business, saving my money, and I get a notification from Spotify: $12.99, Netflix: $6.99.”
Fun will cost you
The problem for Chavez (and the rest of us) is that keeping yourself entertained has gotten to be quite expensive, whether you stay at home or not.
Going to a restaurant, bar or nightclub means you’ll be paying a premium for food and drinks. Concert ticket prices for some music acts are so high that Taylor Swift fans are suing Ticketmaster. Even fast-food meals, can’t always be counted on for a cheap and cheerful evening out.
Meanwhile, streaming subscriptions may seem like a cheap alternative at only a few dollars per month, but they can add up if you’re not careful.
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Stacking subscriptions
Chavez mentions that her subscription fees are racking up her credit card bill every month. She’s not alone. People spend an average of $219 per month on subscription services, ranging from entertainment to clothing, according to a 2022 study by C+R Research.
But many may not realize they’re spending that much. The same study discovered that most people estimate they spend $86 a month on subscriptions — $133 less than the average cost.
So if you feel like you’re constantly getting charged for streaming services, there’s an easy way to cut those out: cancel them. A study by Deloitte discovered that 21% of people canceled a video streaming service from mid-2022 to mid-2023, with many citing cost cutting as the reason.
But canceling a subscription isn’t always straightforward. Consumers have complained that some services make it difficult. There have also been instances where people thought they canceled their subscription service, but hadn’t jumped through all the necessary hoops to do so — and continued to be charged for it.
So, take this as a lesson to look through your credit card statements every month to see if you can cut costs — and to ensure you aren’t being charged for a service you thought that you canceled.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.