hey it's michael here and today have millennials and gen z unlocked the secret to saving money on
streaming tv well i've got a clue for you it comes from this flashback to a younger
and thinner michael saves let's take a look why do people cancel cable sign up for a live
tv streaming service stay with them price hike after price hike and never shop around to see
if there's a better deal this is the mistake that cord cutters make after dropping cable you are not
stuck in a contract anymore so you don't have to keep acting like it so in that video from a year
ago i talked about how i strategically stop and start my streaming subscriptions to save money
now look at this it's a survey from deloitte and it describes this practice as churn and return
you can see from this graphic 47 nearly half of millennials they've cancelled a streaming service
and then re-subscribed within 12 months but really focus here on the numbers for boomers only six
percent of those surveyed cancelled a subscription and then later rejoined it within a year as you
would expect this survey found that people had different reasons for deciding to resubscribe here
were the main ones and those reasons include a new season of their favorite show was released they
routinely cancel and resubscribe to manage costs that sounds familiar they got a free or discounted
rate or the content they wanted to watch moved to the service now at this point can't we just agree
that they're just too many streaming services both free and paid and i hear from people all the time
they tell me they have maybe five services and they will not they refuse to subscribe to another
even if something they really want to watch is on that other service that they don't have so here's
my advice for you i've got five tips and tip number one is to set a monthly streaming budget
and track your usage now i've got a free streaming tv spending tracker to help link down below if you
want that but here's my general rule if i can't remember streaming three things from a particular
service within the last month i usually just cancel it because that's a sign i don't have time
for it if you're anything like me you get a lot of recommendations from your family or your friends
maybe you just read the comments of my videos for shows and movies on particular streaming services
so what do you do when you don't have the service that's being recommended here's a tip
for that tip number two is to make a list of the recommendations on paper or use a note-taking app
and make sure to include the name of the service that you need to stream for that show or movie
so let's say you start to see you're getting a lot of recommendations for netflix shows then sign
up for it and pause or cancel an existing service while you're getting caught up with netflix moving
on tip number three is for social tv watchers whether you like to watch with your family
friends or just follow along on social media the key here is to plan your streaming ahead of time
you can do a google search for when the new season of your favorite show starts and that way you know
well ahead of time which service to subscribe to and how much you're gonna need to budget for it
this next tip could save you the most money tip number four is to evaluate whether you really need
a live tv streaming service after all those are the most expensive services for example
i paused my live tv service this past summer but there were just fewer sports shows and live
events that i like to watch and if you pause or cancel a service like youtube tv for three months
that'll save you about 200 bucks now all this talk about canceling services what
if there's a service that you know you want year round well tip number five is to consider
an annual subscription to save money not all services have annual plans but those that do
will save you about 15 so in other words it's like getting 12 months of service for the price
at 10. not a bad deal and sometimes you could find even better deals around black friday with so many
streaming services and other subscriptions too it's easy to spend more money without realizing
it so go ahead check your credit card statements every month and review those subscriptions and to
save an extra six percent on streaming tv services consider the american express blue cash preferred
it's also a great credit card for cash back on groceries and gas too thanks for watching