We found you an extra $250. Cancel one premium subscription and you’ve got it.
Today, free beats fee in every domain.
In fact, the only real benefit of a monthly subscription is to the company that offers it. We walk you through the costs of many popular subscriptions and explain how you can cancel them.
How Much Can You Save In A Year When You Cancel Streaming A Subscription?
Here are some of the most popular streaming subscription-based services in Canada to show you how much money you can save a year by cancelling them (prices do not include taxes):
|Monthly Subscription Cost||How Much You Can Save In A Year|
|Netflix||Standard (with ads) – $5.99|
Basic Plan – $9.99
Standard – $16.49
Premium – $20.99
|Crave||Total Plan – $19.99||$239.88|
|Amazon Prime||Standard – $9.99|
Student – $4.99
Should You Cancel Your Subscription?
No matter the benefits, there are many reasons to cancel your subscription.
You Should Cancel Your Subscription If They Cost A Lot
Perhaps the main reason to cancel your subscriptions is the price factor. For instance, if you subscribe to Netflix at $9.99 a month and Disney Plus at $11.99 a month, you’ll save yourself more than $200 a year by cancelling.
You Should Cancel Your Subscription If You’re Not Using Them As Much
Whether it’s because your favourite show has ended or you’ve taken on a new show on a different streaming platform, you should consider cancelling your subscription. If you find that you’re not using your subscriptions as much, they may not be worth their costs. Even if you unsubscribe or pause your subscription for a few months, you can save a lot of money.
You Should Cancel Your Subscription If Your Needs Have Changed
It’s also possible that you no longer need a subscription. For example, Chegg is an online learning platform that starts at $18.95 a month. As a student, you may only need it during the semesters you’re studying.
For example, by cancelling your Chegg subscription for the summer break (June to August), you would save $56.85.
Where Should You Use The Money You Saved From Cancelling?
In Canada, most people live by the “every penny counts” rule. Luckily, after cancelling your subscriptions, there are lots of ways you can use the money you’re saving.
Create An Emergency Fund
No matter how you choose to live your life, it’s always important to have a sizable emergency fund. That way, you can deal with any unexpected costs, such as repairs on your home or vehicle.
In general, it is recommended that you have 3 to 6 months of living expenses in your emergency fund. By cancelling your subscriptions you can add hundreds if not a couple of thousand dollars into your emergency fund each year.
Paying Off Credit Cards
The money you save by cancelling your subscriptions can be used to pay down your credit card bills faster. Paying credit card bills faster can help you save on interest and lower your debt-to-credit ratio, which is a common factor used to calculate credit scores. Generally, the lower your debt-to-credit ratio, the better it is for your credit.
This can be beneficial if you ever want to apply for credit in the future because credit is a common factor used by lenders to determine creditworthiness. The better your credit, the more it can help you qualify for personal loans and lower interest rates.
Paying Off Your Other Debts
Whether you save a couple hundred to a couple thousand by cancelling your subscriptions, you can use that money to pay down a part, if not all your debt. By paying down your debts, you’ll also be lowering your debt-to-income ratio. Your debt-to-income (DTI) ratio is a common factor that most lenders use when approving you for a loan.
So, not only can paying off debts free you of your debts faster, but it can help you qualify for future loans with better interest rates.
How To Cancel Your Subscriptions
Cancelling your subscriptions is usually pretty easy but it depends on the service or product. Here’s how the process works with Canada’s most popular subscriptions:
How To Cancel Your Delivery Subscriptions
- Uber One – You can cancel your Uber Eats subscription up to 48 hours before your next payment by tapping the account icon in-app, followed by “Uber One” and “Manage Membership”. Then, just select “End Membership” twice in a row.
- DoorDash Pass – Using the app or website, you can cancel your membership by logging into your DoorDash account, going to “Manage DashPass” and “End Subscription”. Confirm your choice by clicking/tapping “End Subscription” again.
|Monthly Subscription Fee||How Much You Can Save In A Year|
|Door Dash Pass||$9.99||$119.88|
|IGA Voila (Delivery Pass)||$14.00 for the one month unlimited pass||$139.99 for the 12 month unlimited pass|
|Walmart Online Grocery Delivery****||Standard delivery: $7.97|
Same day delivery: $10.97
Express 2-hour delivery: $12.97.
|Standard delivery: $95.64|
Same day delivery:$131.64
Express 2-hour delivery: $155.64
|Costco Grocery*****||Free or $3 per item||Free and up (cost varies based on purchase amount)|
**Cost is based on a classic basket. 3 meals for 2 people + shipping. Purchased once a month for a year.
***Cost is based on a meat & vegetables plan. 3 meals for 2 people + shipping. Purchased once a month for a year.
****Must have a minimum order value of $35 (before taxes & fees). The yearly fee is based on the assumption that you make a purchase once every month.
*****A $3 charge per unit will be added when your purchase amount is less than $75.
How To Cancel Your Streaming Subscriptions
- Disney Plus – Log into your account, select your profile, then “Account”. Under “Subscription” you’ll see “Cancel Subscription”. You’ll then be prompted to share your reason for cancelling, fill out an optional survey, and finish the cancellation.
- Crave – Log into Crave, go to “Manage Account” through the user icon, then click on “Subscriptions”. At the top right corner of that page, you’ll find the option to “Cancel Subscription”. Follow the steps until you reach the confirmation page.
- Netflix – You can cancel your streaming at any time by logging into your Netflix account and going to the “Account Details” page. Next, click or tap “Cancel Membership” (under Membership & Billing), then follow the instructions.
How To Cancel Your Amazon Membership
If you have Amazon Prime, your subscription will renew automatically every year, unless you turn off this option. To cancel, just sign into your account and go to “Memberships & Subscriptions”. Choose “Manage Subscription”, followed by the link under “Advanced Controls”. You can then cancel your membership on the main subscription page.
How To Cancel Your Apple Membership
- Apple Music – Go to music.apple.com and sign into your account at the top right of the page. Next, tap or click the account icon, followed by “Settings”. Finally, scroll down to “Subscriptions”, select “Manage”, and “Cancel Subscription”
- Apple TV – To cancel your Apple TV, log into your account and go to the “Settings” page. Choose “Users and Accounts”, followed by the account name and “Subscriptions”. Select the desired subscription and follow the instructions to modify or cancel your membership.
Other Subscriptions That May Be Draining Your Account
These days, there’s a free app for everything, so whether you want an app to help you budget or check your credit score, you can find one for free.
Google One Subscription
If you have a Gmail account, you may be struggling to stay under the 15gb store space allowed on Google. You may even have subscribed to Google One to access extra storage. However, do you know how much money is going toward that space?
Here’s how much you may be spending a year depending on the subscription:
|Extra Google Storage||Monthly Subscription||Yearly Cost|
|Basic 100 GB||$2.79||$33.48|
|Standard 200 GB||$3.99||$47.88|
|Premium 1 TB||$13.99||$167.88|
While this may not seem like a lot in a year, after several years, it can add up. If you’re looking to cut costs and save money, it may be worth cancelling your subscription Google One subscription.
Choose Free Credit Score Subscriptions
Instead of paying to check your credit scores, here are some free credit score platforms you can use and save money:
- Loans Canada – Loans Canada’s Compare Hub platform allows Canadians to check their credit scores for free. Moreover, you can use the platform to help you compare loan options and other credit products.
- Equifax – Equifax is one of Canada’s major credit bureaus. You can check your credit score for free with them.
Top Paid Finance Apps That May Be Worth Cancelling
- My Budget Book – $4.99
- My Money Pro Expense and Budget – $2.19
- Financial Calculators Pro – $6.49
Free Budgeting Apps In Canada
Instead of spending your hard-earned money on paid apps, consider moving to free budgeting apps like the ones below. They’ll not only save you money but help you better track and manage your finances.
- Mint – Mint is a popular budgeting app in Canada. It’s free to use and allows users to link their bank accounts and credit cards to the app to help them categorize their expenses.
- Pocket Guard – Pocket Guard is another budgeting app in Canada that allows you to categorize your spending easily. They also have a neat tool that analyzes your spending and provides you with areas to reduce your spending.
- Goodbudget – Goodbudegt allows you to sync your accounts together to get an overview of your spending. Like the other apps, it can help you categorize and track your spending. However, unlike the other apps, it uses the envelope budgeting strategy to help you budget and control your spending.
How To Cancel Paid Apps On Google Play?
To cancel a subscription on Google Play, simply click your account icon at the top right corner. Then click “payments and subscriptions”. Then click “subscriptions and choose the subscription you want to cancel. There you’ll find the option to cancel your subscription. Click it, and then click it again to confirm.
How To Cancel Paid Apps On The App Store
To cancel a subscription in the App Store, open your phone setting and click “subscriptions”. Find the subscription you want and click it. Then scroll down and find the cancel button. If you can’t find the cancel buttons and see an expiration date instead, it means it is already cancelled.
Are Your Subscriptions Costing You Too Much Money?
If so, you might consider switching to cheaper options or cancelling them altogether. After all, even though subscriptions can be fun to have, they’re definitely not worth the hassle if they’re making it difficult to stick to your budget. Take a look at the terms and costs of all your subscriptions. Then make a plan for which ones are important to you or bring value to your life. Consider cancelling everything else.
Cancel Subscription FAQs
How much money will I save if I cancel Netflix?
- Standard With Ads = $5.99 a month or $71.88 a year
- Basic = $9.99 a month or $119.88 a year
- Standard = $16.49 a month or $197.88 a year
- Premium = $20.99 a month or $251.88 a year
Should I cancel my subscription?
- Do you actually use and enjoy your subscription?
- Will cancelling your subscription save you time, energy, and money?
- Is your subscription currently worth that time, energy and money?
- Is there an alternative subscription that works the same but costs less?