Netflix just raised prices again. Here's how to cut streaming costs before canceling.
Streaming services promised to be a cheaper alternative to cable. But for many households, the savings have quietly disappeared.
Netflix recently announced another price increase across all of its plans, raising monthly costs by at least a dollar or two. It's the latest bump in a year filled with price hikes from major streaming platforms.
Altogether, the average household now spends about $70 a month on streaming services, according to a new report from Deloitte.
If you're looking to cut back, consumer advocates say start with a little "streaming spring cleaning."
Start by figuring out what you're paying for
"A lot of people are paying for the same service twice and don't even know it," said Teresa Murray, a consumer watchdog with PIRG, the U.S. Public Interest Research Group.
Duplicate subscriptions often happen when different family members sign up separately or when services are billed through platforms like Amazon, Roku or Apple in addition to a credit card.
One way to spot the problem is to run all streaming charges through the same credit card or bank account so they show up on a single statement.
Skip subscription-tracking apps
There are apps that promise to track and cancel subscriptions for you. But Murray says consumers are better off saving their money.
Many of those services charge recurring fees and require access to bank or credit card login information.
"You're paying another company to do something you can easily do yourself," Murray said. "And you shouldn't have to hand over your financial information to make that happen."
Bundle … but only if you'll actually use it
Some streaming services offer bundles that can reduce costs, and cell phone or cable providers may offer streaming discounts as part of a larger package.
Those deals can make sense, but only if you're actually using everything included.
"If you're honest with yourself and realize you never open one of those apps, it's not really saving you money," Murray said.
Another option: downgrading to cheaper, ad-supported plans if you're willing to sit through commercials.
Ask for a discount and be ready to cancel
If you try to cancel a streaming service outright, you might be surprised by what happens next.
"There's nothing wrong with saying, 'I'm looking at my expenses and I need to cut corners,'" Murray said. "In a lot of cases, companies will come back with a discount offer to keep you."
Just make sure you're actually willing to cancel if the savings aren't there.
Some services also allow customers to pause subscriptions, temporarily stopping charges for a month or more — an easy way to take a break without canceling completely.
Internet bills may have hidden savings, too
Streaming costs aren't the only place consumers can save.
Experts recommend reviewing your itemized internet bill. Internet and cable providers are required to provide itemized statements with all fees and costs, including monthly equipment charges for modems or routers provided by the company.
But Murray said buying your own equipment can pay for itself in just a few months and potentially save $10 to $20 a month.
Another simple tip: Ask about auto-pay discounts. Some providers offer lower rates for customers who set up automatic payments, especially when paying directly from a bank account.
The bottom line
Price hikes may be out of your control, but how much you pay doesn't have to be.
Taking a few minutes to review your subscriptions, trim what you don't use, and ask for discounts can put real money back in your pocket.
And in a time when just about everything costs more, that kind of spring cleaning can add up fast.