Five ways to stream responsibly

The End of Financial Year (EOFY) is a great time to reassess your finances and cut costs — and your streaming subscriptions could be the best place to start. There are so many streaming platforms to choose from, and it can be easy to accumulate more than you need.

The Salvos Moneycare team has compiled a few tips to help you enjoy TV without spending too much. Check them out below.

Review before you renew

Each month, take stock of your streaming subscriptions to see if there are any you can unsubscribe from. If there’s a particular TV show or movie you’re waiting for, a simple trick you can follow — temporarily unsubscribe and rejoin the service after the show has dropped. Also consider cancelling a service before signing up to a new one — the ‘one in, one out’ approach.

Stay within your means

Never spend more money than you have. Work out how much you can afford to pay for streaming services and stay within that limit. Each service typically offers a range of plans. Review each to determine where you can compromise and avoid paying for options you don’t need, e.g., skip paying extra for high definition (HD) if you’re not concerned about picture quality.

Enjoy free TV

You might be surprised by the quality content you can find on free streaming services like ABC iview, SBS On Demand, 7plus and others. You can also access some free streaming platforms through local libraries. To avoid the choice anxiety of being faced with too many options, we recommend you start with the free ones before looking at the paid ones.

Try the trials

Some streaming platforms offer new customers a free trial, which allow you to watch a platform’s content for free before committing to a paid plan. Use this option to your advantage by researching which ones do (hint: a lot of the major ones), and sign up based on what you’d like to watch.

Make sure you cancel your subscription before the trial ends, or you’ll be charged a fee. A good way to remember — set up reminders on your phone or write a note and stick it up somewhere visible, like your fridge.

A little help from your loved ones

If a friend or family member has subscribed to a streaming service that includes your desired film or TV show, ask if you can come over and catch up on it. Make a fun night out of it with snacks and drinks, and enjoy not just your show, but also the company of others. Some streaming services also offer accounts that can be accessed by multiple people — and are often slightly cheaper than an individual account subscription. Talk to your friends and family to see if that’s a viable option for you.

Catching up on your favourite TV doesn’t have to break the bank. With a bit of research and planning, you’ll be all set to stream — and save!

If you find yourself struggling with subscription fatigue or other financial pressures, Moneycare can help. We provide free and confidential financial counselling tailored to your needs. Connect with us via live chat on the Moneycare website or call 1800 722 363.