Most houses have at least one online streaming service with some having up to three and maybe four, all of which cost money.
A personal finance expert has recommended that for those hoping to save money a ‘TV Tapas Method’ is the best approach.
By now it is likely that most of us have shared accounts for premium services to save money but have you considered mixing up your paid accounts with free ones and working them in rotation?
The ‘Tapas’ method makes money-savers answer the question of how much TV they actually watch and then asks them to match their spending with the hope it will cut out at least some of the monthly bills.
(Image: Getty)
Andy Webb from BeCleverWithYourCash.com said: ” Realistically you won’t be able to fully take advantage of all the services at the same time.
“I’d recommend a “tapas-style” approach where you pick and mix over the year, rather than gorging all at once on more than you can possibly manage.”
He said that we should pick one service, for example, Netflix and get the most out of the service for a month or two before switching to another binge-worthy platform.
The benefit here is that once you have exhausted Netflix and moved onto another site you can pause your membership and not lose money on a service you are not using.
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If you pay monthly for Amazon prime but only subscribe for six months of the year you could halve the £95.88 cost of monthly payments to $47.94 and it’s cheaper than the £79 full year payment.
Assuming most people have a standard Netflix membership at £9.99, they will be paying £119.88 for 12 months as a pair- so just under £60 per year.
If you cut that in half you spend just under £30 for Netflix TV.
The more people who use the membership the cheaper it will be so if you can convince family and friends to be more selective with their TV you could all make some savings.
Andy also recommends incorporating free services into the mix.
He said: “There’s an amazing back catalogue of free TV to watch on these services. Really, it’s huge.
“Often you can watch programmes that are also on the likes of Netflix and Amazon, except on iPlayer and the others it won’t cost you a thing.
“You can also watch the channels live and download programmes to your phone for offline viewing.”
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