Recurring expenses can be sneaky budget killers, and for retirees on fixed incomes, every penny counts. While subscriptions can make our lives easier without disruptions, many people are paying for services they don’t even use or remember subscribing to.
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Richard W., a retired boomer from Florida, realized this year that he has been wasting a lot of money on subscriptions he barely used. Canceling these subscriptions has freed up more cash for other necessary expenses.Here are six subscriptions he canceled this year.
Cable TV
Many people watch only a fraction of the channels that come with a cable TV plan, which isn’t worth the subscription. The good news is that there are several ways to enjoy your favorite TV shows without having to pay for cable.
“I was paying $83 per month for cable and only binge-watched a few of channels. Canceling it has saved me nearly a thousand dollars a year,” Richard said.
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Streaming Services
While cutting cable saves money, having too many streaming services can still eat into your retirement income. In addition to cable, Richard still paid for streaming services like Netflix, Amazon Prime Video, Disney+ and Hulu.
“I was paying for four different streaming services but was mostly using one,” he said. Richard also noticed that he occasionally used the free version of YouTube, which made other services unnecessary.
Gym Membership
As you grow old, hitting the gym daily can be challenging. Many retirees are opting for other ways to stay active, like walking, biking and engaging in leisure physical activities.
“I was paying $40 each month for a gym I barely went to. Now, I enjoy going for evening walks and biking to the grocery store to stay active,” he said.
Store Memberships
Having different store memberships can seem like a money-saver, but for retirees who don’t shop as often, these plans can be an unnecessary expense. Richard thought that Amazon Prime would save him money.
“When I took a close look at my orders for the past few years, I realized I wasn’t actually saving money with the $139 annual subscription,” he said.
Meal Kit Services
Having your favorite meal delivered to your doorstep can be convenient, but these costs add up quickly. “Each meal was costing me $10 or more,” he said. The same home-cooked meal could cost nearly half the price with a quick grocery run.
Magazines and Newspapers
Printed magazines and newspapers are not as popular now as they used to be. You can now access the same content for free online. “I had a few magazines and newspapers delivered to my door every week, but then I realized I was paying $19 a month for something I could read online for free,” Richard explained.
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This article originally appeared on GOBankingRates.com: I’m a Retired Boomer: 6 Subscriptions I Canceled This Year Because They’re a Waste of Money
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