Netflix has raised its prices yet again, with the premium plan now at $26.99 per month and even the ad-supported tier increasing to $8.99. This means you could be paying over $320 annually just to stream shows. Here are five strategies to help you save money:
1. Downgrade to the Ad Tier
While ads can be annoying, the savings are significant. The ad-supported plan is now $8.99, compared to much higher costs for ad-free options. Consider this downgrade to reduce your monthly expenses.
2. Rotate Subscriptions
Don't pay for access to every streaming service year-round. Subscribe to HBO Max, Hulu, or Netflix only when you need specific content, then cancel. This method can save you hundreds annually.
3. Utilize Local Library Resources
Your local library offers free access to apps like Hoopla and Kanopy. These platforms provide a wealth of movies, TV shows, and more at no cost. Check your library’s digital offerings before paying for a streaming service.
4. Cut Off Freeloaders
Netflix has tightened rules on password sharing. Review your account settings to ensure you're not paying for others’ usage. Remove any freeloaders to avoid extra fees.
5. Monitor Your Usage
Track how much you actually use Netflix. If you watch fewer than 10 hours a month, you’re likely wasting money. Audit your spending and consider canceling the service if it’s not cost-effective.