Not all subscriptions are budget traps. In the right situations, a subscription can actually cut your spending, simplify your routine and stop those little financial leaks you don’t notice until they pile up.
Here are five times when saying yes to a subscription can make financial sense.
When You’re Already Buying the Same Thing on Repeat
If you’re consistently purchasing the same products every month, consider paying for a subscription instead, if available. Many brands give 10% to 20% off for recurring deliveries, which adds up over the year.
For example, with Amazon’s Subscribe & Save service, you can set up recurring deliveries for household essentials like diapers, laundry detergent, pet food, vitamins and get automatic discounts by subscribing instead of buying each order individually.
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When a Subscription Replaces a More Expensive Habit
Some subscriptions are simply the cheaper version of something you’re already paying too much for. For example, a $15 fitness app can replace a $55 gym membership. A $12 meal-planning app can keep you from defaulting to takeout three nights a week.
When the Membership Unlocks Discounts You’d Pay More for Anyway
Warehouse clubs, retail memberships and travel subscriptions can pay for themselves pretty quickly if you take advantage of all the perks. With Costco and Sam’s Club’s memberships, you can typically cover your annual fee just from cheaper bulk items or lower gas prices. Travel memberships that include free checked bags or priority perks can also be worth it if you fly even a couple of times a year. And if you love shopping online, free shipping alone can offset the cost of Amazon Prime or Walmart+.
When the Subscription Prevents Emergency Overspending
Other types of subscriptions that could actually save you money in the long run are things like roadside assistance memberships, identity protection services or device protection plans. When something goes wrong, these subscriptions could save you from large unexpected expenses. Though these subscriptions aren’t always cheap, they’re usually more affordable than getting hit with a $300 towing charge, a $900 phone replacement or the fallout of identity theft.
When the Subscription Gives You Access to Tools That Save Time
Some subscriptions save you money by making your life more efficient. Budgeting apps that help you track spending can prevent overdraft fees and stop you from spending impulsively. Meal kit memberships like those from Hello Fresh can also save you hours on grocery shopping and cut down on food waste, especially if you live alone.
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This article originally appeared on GOBankingRates.com: 5 Times You’ll Actually Save Money by Adding Subscriptions
