Budgeting 101 – subscription switching

Are you juggling more streaming subscriptions than you can binge watch?

Authored on
04 Sep 2023
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Category
Getting started
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Read time
  3 minute read

If you're subscribed to multiple streaming services and your monthly bills are beginning to resemble a small fortune, fear not.

 

We’re here to spill the tea on a budgeting tip that could save you £100s on your subscriptions each year, to maybe invest towards achieving your financial goals.

Picture this: you've got Netflix, Amazon Prime, Disney+, and NOW TV entertainment all on the go every month. That’s all well and good if you’re a movie/TV geek, but each one comes with its own monthly cost, and they add up quickly. What if we told you that by rotating your subscriptions, you could save a surprising amount of money? 💰

So, how does it work? 🤔

Streaming services tend to allow you to cancel and re-subscribe anytime without penalties, and that’s where the magic comes in. Instead of running all these services simultaneously, you could pick one per month and use them on rotation, like a merry-go-round of media entertainment. 🎠 

So, say you want to subscribe to the four services we mentioned earlier, you can enjoy each one for three months a year. By doing this, you could slash your expenses from £456 down to £114 each year. That's an astonishing saving of £342! 

By planning your watchlist ahead and rotating your subscriptions, you could save big. Your wallet will thank you for this subscription-shuffling strategy! 💸

A little goes a long way 

We know what you're thinking, "but, I've only got a handful of subscriptions." Not to worry, the savings game is still strong. With just three streaming subscriptions, e.g. Netflix, Amazon Prime, and NOW TV entertainment, you could pocket an annual saving of £160 by cycling through them throughout the year, rather than paying for all three every month.  

To help put into perspective the saving potential of just a small change, choose your favourite subscription services below and see how much you can save in one year.

 

Your current annual subscription spend

£0.00

After subscription super-switching!

£0.00

You save

£0.00

 

These savings are for illustrative purposes only. Prices are based on an individual plan and may be subject to change. 

A subscription to your future 

Now that you've freed up those extra pounds, you can channel those savings into something that not only brightens your present but secures your future too. Instead of dishing out a hefty sum every month on streaming services, why not put that money somewhere that has the potential to grow over time. We’re talking about investing here! 💡 

With Dodl, you can set up monthly investments, so your savings can quietly work in the background, potentially growing over time. And with one of the lowest account charges around, you get to keep even more of your hard-earned money. Think of it as just another monthly subscription! 

And while you're setting down to your favourite shows as a super-switcher, you can feel extra smug knowing your savings are being invested towards your financial goals. 🎯 

 

Take your first step today by opening your Dodl investment account. 

 

Open a Dodl account today

 

🔔 Remember, investing carries risk and nothing in this article should be taken as advice - Dodl doesn't give advice, but we do hope the info is helpful! 

Red Monster Head


Important to know

You have to be a UK citizen and resident to open an account with Dodl. 

The past performance of investments isn't an indicator of their future performance and their value can go down as well as up. This means you could get back less than you originally invested. 

Dodl doesn’t offer any advice so if you’re not sure about the risks involved with investing, you should speak to a suitable financial adviser. 

How you're taxed depends on your circumstances, and tax rules can change in future.