NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

6 ways to save money on streaming services

6 ways to save money on streaming services
Image source: Getty Images


The days of most people relying on terrestrial TV and satellite channels for their home entertainment needs are long gone. Almost everyone is ‘cutting the cord’ and switching to streaming services for entertainment these days.

The problem is that in order to get a full range of content, you might need to pay for several different services. And that’s when the costs can start to spiral out of control. If you are on a budget, here’s how to save money on your streaming.

Plot your path towards financial freedom with our Hero’s Journey tool!

MyWalletHero is here to help you learn about taking control of your money, whether that’s paying off debt, working towards a short-term money goal, or investing for your future.

This tool can help you understand the next steps on your journey – simply choose a goal that best describes your current interests to get started.

The cost of streaming services in the UK

In the UK, the average cost of streaming services has risen in recent years.

For example, two of the most popular streaming services, Netflix and Disney+, have both confirmed price increases of up to £24 per year for some customers in the last year.

Here are the current prices for some of the UK’s top streaming services:

Service

Monthly cost

Netflix (standard package)                

£9.99

Amazon Prime Video

£7.99

Now TV (entertainment plus)

£9.99

Disney+

£7.99

Apple TV+

£4.99

Britbox

£5.99

Hayu

£4.99

 

Further price hikes in the future are not out of the question as these services expand their libraries in terms of the amount and type of content available.

Could you be rewarded for your everyday spending?

Rewards credit cards include schemes that reward you simply for using your credit card. When you spend money on a rewards card you could earn loyalty points, in-store vouchers airmiles, and more. MyWalletHero makes it easy for you to find a card that matches your spending habits so you can get the most value from your rewards.

How to save money on your streaming services

Here are a few tips to help you cut your streaming costs.

1. Share subscriptions with friends and family and split the bill

One good thing about many streaming services is that they’ll let you share your plan with other people.

Take Netflix, for example. The standard plan lets you stream shows on two different devices at the same time. The premium plan, on the other hand, lets you enjoy content on four different devices simultaneously.

So if you split the cost of the premium plan between four of you, you would each only have to pay £3.50 per month, effectively saving £2.49 compared to a personal basic plan that costs £5.99.

2. Take advantage of free trials

Do you know that you can get up to 7.5 months of free streaming subscriptions by taking advantage of free trial periods?

Some streaming services offer up to 30 days of free trial to new customers. Others may provide shorter trial periods. However, if you combine all of these trials, you could end up with a few months’ worth of free streaming subscriptions.

You do have to enter your credit card information to be able to enjoy most of these free trials. But you can cancel services before the trial periods end to avoid being charged.

3. Choose non-premium plans

Most streaming services offer a variety of plans that differ in terms of image quality, the number of devices that can access content, and so on.

If you don’t share your account with anyone else, for example, and picture quality isn’t an issue, going with the most basic plans can save you a lot of money on your streaming subscriptions in the long run.

4. Opt for the freebies

If you want to avoid paying streaming fees entirely, the good news is that there are a number of high-quality (and legal) free streaming services available to keep you entertained. Among those worth a look are:

  • All4 (from Channel 4)
  • My5 (from Channel 5)
  • YouTube
  • Popcornflix
  • Internet Archive

In addition, some major paid streaming services such as Netflix now allow viewers to watch some shows and movies free of charge and without an account. Simply navigate to https://www.netflix.com/gb/watch-free to see what’s available for free.

5. Plan your binges

If you’re like me, you can go weeks, if not months, without logging into your streaming account. If that’s the case, there’s no need to sign up for or commit to a specific service for an extended period of time, such as a full year.

Scheduling your movie or TV show viewing for specific months and then cancelling your subscription for the months you will not be using it can save you a lot of money.

For example, if you know that a whole series of your favourite show is coming out on Netflix on a certain date, you can renew your subscription for that month and binge watch once the show lands. You can then cancel the service when you’re done.

6. Go all in and buy a yearly plan

If there is a streaming service that you can’t do without, see if paying the annual price is less expensive than paying on a month-to-month basis.

For example, a Disney+ annual subscription will cost you £79.90, whereas a month-to-month subscription will cost you £95.88 in total. So, by selecting the annual option from the start, you save nearly £16.

Are you making these 3 common investing mistakes?

These all-too-common investing errors can cause you to miss out on the long-term wealth-building power that shares can hold….

To help you side-step these pitfalls, and move forward on your path to wealth-building, we’ve created a free report, “The 3 Worst Mistakes New Investors Make”.

Just enter you best email below for instant access to your free copy.

By checking this box and submitting your email address, you agree to MyWalletHero sending you emails with money tips, along with details of products and services that we think might interest you. You can unsubscribe from future emails at any time. You also consent to us processing your personal data in line with our privacy policy, and our cookie statement. For more information, including how we collect, store, and handle personal data, please read our Privacy Statement and Terms & Conditions.


Some offers on MyWalletHero are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.