(WHTM) — How much do you pay for subscriptions services like cable, streaming platforms, and your cell phone? It is probably more than you think.
A new report on ZDNet from the research firm West Monroe claims that the average family spends $273 per month on subscriptions, adding up to more than $3,000 a year. That is a 15% increase from the amount people spent on subscriptions in 2018.
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People are spending a lot on subscriptions, but the report found that most individuals underestimate exactly how much they pay for the services.
Cable and internet can cost $150 a month, while internet and streaming TV can cost $100. Add in a cell phone for about $75 a month, home security systems like Ring or Nest cameras for $10-30 a month, gaming systems for around $10 a month, Pandora, Kindle, or Audible…it is easy to see how the costs climb to $273 each month.
For cable cord-cutters, streaming TV is still pricey. HBO Max is $15 a month, Netflix is $14, and Disney+, Peacock, Apple TV+, and Discovery are around $5 each. With internet service, this can easily cost more than $100 a month.
You may want to check that credit card statement to see how much you are really paying for subscriptions each month so you don’t waste your money.