VANCOUVER -- Cooped up indoors for two months, many people signed up for a myriad of subscription services, from dating apps to video games to music subscriptions. Now that we're spending more time outdoors, or taking a hard look at our finances, it's time to cut back and streamline the budget.
Canadians spent $1.5 billion last year alone on video streaming services like Netflix and Crave. Ditching just one or two could save you hundreds of dollars a year.
Jennifer Mari-Wyka and her family found streaming TV costs them a lot.
"We currently subscribe to Netflix, Amazon Prime (and) Disney+," she said. “Our budget has to change, the same way that everyone’s adapting to this new norm.”
Make a list of all the entertainment services you subscribe to, and you'll probably find there are a couple you can live without. And get rid of anything you pay for but don't use.
Consumer Reports editor Chris Raymond took a look at his bill and noticed a few things he could trim.
"I found that I was paying for insurance on a smartphone that was four years old," he said. "And I was also paying for a DVR that we no longer use because we just stream the shows we want to see.”
Even with the rising cost of streaming services, cutting the cord could still save you hundreds of dollars a year, depending on your cable provider.
But If you do stick with cable, you can still save money. Buy your own router instead of paying every month to rent one from your cable company.
That's what Mari-Wyka's household did.
“We’ve been saving a great deal. So, I think that’s something, you know, we’re happy we did,” she said.
If you need more hardware in your house, consider buying refurbished devices. Brands like Apple, Dell, and Samsung sell refurbished laptops, smartphones, and tablets for a lower price. Just make sure that anything you buy is certified pre-owned, and insist on getting some sort of warranty.
With files from Consumer Reports
