Is Your Streaming Subscriptions Overwhelming You? 3 Signs to Cut Back

It may be time to rethink your approach to entertainment.

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Key points

• Streaming services can be a more affordable alternative to cable.
• It may be time to cancel one or more of those services if you’re wasting them or are struggling with bills.

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Whether you use them in place of cable or in addition to it, streaming services can be a great source of entertainment. And since many come at a reasonable price point, it's easy enough to justify their cost.

But there may come a point when it's time to dump a streaming service or two. Here are three signs you have too many subscriptions.

1. You pay for services you rarely use

It's one thing to pay for numerous streaming services you use frequently. But if you're paying for services you barely use, then you may be throwing your money away.

Make a list of your favorite shows, or the ones you watch most often. Then, figure out which streaming services they're attached to. You may find that you can easily get rid of one service and still be left with plenty of content to access.

2. There are services you've forgotten you have

You may decide to keep a streaming service you don't use often because it provides for the occasional hour of entertainment. And if that rarely-used service fits into your budget, there's nothing wrong with treating yourself to it.

But if you have streaming services you actually never use, or haven't used in months, then there's really no sense in paying for them. Perhaps some of your favorite series weren't renewed, or a show you like is coming back, but not for a number of months. In that case, it could pay to cancel a given service and sign up again at a later point in time.

The great thing about streaming services is that they generally don't force you to commit to a long-term membership. So it may be easy enough to cancel a subscription, sign up again for a month to binge-watch a specific show you've been waiting for, and then cancel again.

That said, it's worth noting some streaming services will give you a discount if you prepay for a year at a time. Before you cancel a service, make sure it isn't paid up until a certain point already.

3. Your credit card bills are getting out of hand

Individually, streaming services tend to be inexpensive. But collectively, they can cost a lot.

If you've been having trouble keeping up with your credit card bills, then it may be time to rethink your spending habits across the board and start making some cuts. If you're paying for multiple streaming services, it could make a lot of sense to unload one or two before you're forced to start making changes to other spending categories, like the weekly restaurant meals you like to enjoy with friends.

It's not uncommon to have more than one streaming service at the same time. But do you really need four or five different options? Probably not. Think about what you might do with the money you save by dumping a streaming service -- and consider canceling one or more if the above factors apply to you.