Need to cancel your Netflix plan? Here are the cheapest options

Netflix illustrations ahead of earnings figures

Over 1.5 million Britons have canceled streaming subscriptions since the beginning of the year (Image: Bloomberg via Getty Images)

We have never had it so good when it comes to watching movies and TV at home.

Every week, dozens of new programs and movies are available across an ever-increasing number of channels and streaming services.

In the last month I have enjoyed Resident Alien (NOW Entertainment), The After Party (Apple TV +), The Adam Project (Netflix), Cruel Summer (Amazon Prime), Crystal Palace vs Arsenal (NOW Sports), Turning Red (Disney +) and La Petite Maman (Mubi). I also rented House of Gucci (Chili).

Oh, and there have also been Derry Girls (Channel 4), Peaky Blinders (BBC) and the FA Cup (ITV). And there is still plenty to see – my ‘to see’ list is four times as long.

Having so many choices means there is always something to see, no matter my mood. But it’s all going to cost.

In my list of watched programs above, there are six streaming services. The full price of having all of these in a month can be between £ 84 and £ 95, depending on the package chosen.

A rental movie can range from £ 3.50 to £ 5.50. And then the TV license is even an additional £ 13.25.

If I repeated this every month for a year, my total bill could approach £ 1,400. And I do not even have Sky or Virgin TV, which would add hundreds of pounds more.

Multimedia streaming concept.  Hand holding remote control

There are so many choices on each streaming service that it’s hard to justify subscribing to more than one (Image: Getty Images / iStockphoto)

It’s an insane amount for anyone to pay, and it’s no wonder that statistics last week showed that 1.51 million streaming services were canceled in the UK in the first three months of 2022.

So are you going to follow suit and ax Netflix and co? If you pay for streaming services and do not watch them, you should definitely unsubscribe.

Saving £ 10 a month is £ 120 a year. The more you drop, the more money you save.

And even if you see more than one service at a time, is it so necessary? There are frankly so many choices on each platform that it is impossible to really do a single service justice in a month, let alone two.

I would prefer to pick one and slip until you have seen everything you want and then move on to the next and repeat.

I imagine you’re questioning how I manage to do this, but I also saw all these programs in the same month. To begin with, I did not have them at the same time, I only started one when I was done with another.

And more importantly, I did not pay anything near full price for the services I used. Special offers and offers meant that Apple TV +, Amazon and movie rentals were free, while NOW, Disney, Netflix and Mubi all got significant discounts.

In total, I probably paid less than £ 20 (most of it goes to the license fee).

And if you pay more than £ 25 a month for all your TV, you’re paying too much.

So my advice is to choose the service you want for this month, find the best price and cancel all the others.

Andy’s best buy: Get up to £ 175 via bank transfer

There have been three new swap bonuses in the last few weeks, with Halifax and HSBC offering brand new deals and Virgin Money has renewed its offer.

At first glance, £ 175 from HSBC is the most attractive, and if you’re just looking to switch to cash instead of a new bank, it makes sense to get this larger payout.


The best available switching offers

HSBC

Change offer: £ 175

When can you expect the money: 3 working days after the end of the shift

First direct

Change offer: £ 150

When can you expect the money: 28 days after meeting the criteria

Halifax

Change offer: £ 125

When can you expect the money: Within 30 days of meeting the criteria

Nation-wide

Change offer: Up to £ 125

When can you expect the money: Within 10 days of completing the switch

Virgin money

Change offer: 20,000 Virgin Points

When can you expect the money: 14 days after meeting the criteria

But if you’re looking for a better bank on top of free money, then I would go for Halifax Reward with £ 125 to switch, then £ 5 a month afterwards and a decent app.

The Virgin Money deal is possibly their best yet as you have a choice on how to spend your points. But I would still prefer the free cash available elsewhere.

The offers and accounts all come with terms and conditions, so be sure to read up before you apply.

Andy Webb is an award-winning blogger and podcaster from Be Clever With Your Cash. Follow Andy on Twitter, YouTube and Instagram via @andyclevercash

If you want more tips and tricks to save money, as well as chat about cash and warnings about offers and discounts, sign up for our Facebook group, Money Pot.

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