Taking inventory of subscriptions

The need to watch where our money is spent seems to be more important than ever right now. As a company that uses so many online tools, we know how quickly you can find yourself with multiple subscriptions and accounts. The convenience of setting up an account for a monthly or yearly renewal of payment. With the set it and forget it mentally you do not need to remember to make a payment. However, now has proven to be an opportune time to evaluate those monthly or yearly subscriptions and decide if they are really worth the investment right now.

Here are a few tips to help you decide which subscriptions to keep and which to let go.

1. Why did you sign up for this in the first place? Does it save you time or make you more productive?

2. What value is it giving you short and long term?

3. Is anyone besides you using this program? If so, ask them if they are getting any value from it.

4. Will there be a penalty for canceling early if you are in an agreement? Before you opt-out of canceling, contact the company. Many businesses are waiving fees or contracts right now due to the economic struggles many are facing from COVID-19.

5. Is there one tool you can subscribe to that does what three of the others do you are paying for? Weigh out the fees and pros vs. cons of each.

Remember any time you choose to sign-up for a service or program and you will pay for it, review the terms of the agreement and be sure it will provide you the needed value.

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