Do you ever find yourself overcome by choice paralysis when looking for something to watch on your digital streaming services?
Perhaps you've been hit with a direct debit you weren't expecting, or signed up just to watch a series you've successfully binged in one sitting.
With Australian households now holding an average of 3.7 digital entertainment subscriptions each at a cost of $78 a month, a digital declutter — starting with an audit of what services you're using and whether they're worth it — can be a good place to start.
Are you using what you pay for?
Perth/Boorloo-based financial educator Lacey Filipich says one of the problems with digital subscriptions is they "seem like tiny little drips, because they're small amounts".
But when you add them up, she says it can end up costing you quite a bit.
Paying attention to how much your direct debit deductions and credit card charges add up to in a typical month can be an eye-opening experience, she adds.
"Some people will look at their bank statement or their credit card, and they'll go, 'Wow, I'm using five services that I'm paying for and I'm probably only using two.'"
Of the 3.7 digital entertainment subscriptions we use on average, "we're generally really obsessed with maybe two to three of them", says Dan Barrett, a media commentator based in Sydney on the traditional lands of the Gadigal people.
Knowing when to let go of your subscription
If you are someone who has multiple digital subscriptions and haven't logged in to something for six months or a year, it's worth thinking about a clean-out, just like you would with your wardrobe, says Melissa Norberg, a professor from the School of Psychological Sciences at Macquarie University.
It's a view shared by Mr Barrett.
"At this time of the year, it's a good idea to sit down and say, 'Am I actually using this?'" he says.
"Cancel it if you're not, and then maybe reassess in a few months' time, based on whatever shows may be coming down the pipeline, or a movie you want to see.
"But right now, be as harsh and as frugal as possible."
The choice paralysis we can experience — being unable choose what to watch because we feel overwhelmed by the vast array of choices — can lead us to believe we need even more options.
"We crave more and more, and the more that we want, the more that companies create. It's like this never-ending cycle," Professor Norberg explains.
How to save on your digital subscriptions
If you subscribe to several different services, it can be useful to see if there is any duplication in the content they are offering.
Mr Barrett says licensing deals often mean services tend to offer "largely different libraries" of series and movies.
"But when it comes to music, almost all the same is available across every single streaming service."
"You may already be paying for a music streaming service because it's bundled in with another subscription. So, if you've got to save any money, it's often through the music subscription — that's where your dollar differences are."
Another budget-conscious way of managing your digital media consumption is adopting a "one in, one out" approach and making sure you cancel one service before signing up to a new one.
Ms Filipich says her household only ever subscribes to one paid video streaming service at a time, and when they feel like they have watched everything they want to, they will cancel that one and try another.
"There are the free streaming options that work well for kids, like ABC iview, so we might even cancel [a paid subscription] and just have some time off."
Professor Norberg also suggests coordinating with friends or family who will sign up for other services, and watching films or series together.
"Maybe one friend will get [a particular service] and you go to their house, and that will help build social relationships," she says.
Mr Barrett says the value proposition for streaming services will be different for everyone. To put things in perspective, he suggests comparing what you are spending on these subscriptions as a portion of your entertainment budget compared to what consuming a similar volume of content would have cost in the past.
"As we're considering the value that we find in our streaming services, an interesting exercise that I often do is consider, what am I paying for content now in pure dollar figures versus what I was paying for content 20 or 30 years ago?
"Say I rented two VHS from the local video store for seven bucks a week — that's $14 a week and $56 a month. If I also rented out, say, a 10 weeklies for $10 deal, that would be $66 and if I also purchased a CD that month, that would bring it up to about $88.
"I actually tend to find month on month, I'm paying less now than I was 30 years ago, which is kind of incredible when you think about it, and when you think about the volume of content you can now access more cheaply."
