If you’re one of the many people who are looking for ways to make more informed choices when it comes to your money, you’re not alone. Audiophiles spend a ton of money on music — whether it’s that awesome vinyl collection or even the stuff you buy in a digital sense.
Reliable sources report that the average American has over $90,000 in debt before reaching age 60 — debts which may include mortgages, credit card debt, personal loans, and student loans.
For music lovers, musicians, and audiophiles who are looking to make more intelligent choices when it comes to saving money, the tips mentioned below will help you start today.
1. Switch to Free Spotify
Spotify is a popular music service that puts users in touch with just about every artist on the planet worth listening to. Reports show that there were 286 million monthly active Spotify users during their 2020 Q1 report. The same report shows that 130 million of these users were utilizing Spotify Premium, which generally costs $9.99 per month. The problem with Spotify — even Premium — is that you do not own the music.
Many music lovers might rather spend that money on vinyl or purchase an album that they can take with them anywhere via iTunes, etc.
Free Spotify will end up giving you some limitations. For instance, you will not be able to make playlists and you’ll have to listen to music on shuffle play. However, this is a new opportunity to listen to brand new stuff and expand your musical horizons.
2. Stop Paying for Other Subscriptions
Even though Disney+ has only been around for a little over a year, they are boasting huge revenue numbers with their 95 million paid subscribers. Netflix is another subscription service that reports huge gains from providing its products/service to the average Joe and Jane.
We know this may cause a fair amount of discomfort initially, but opting out of these subscription services will help you save a ton of money on a monthly and yearly basis. Instead, pull out your movies and TV shows that you have at home or that you bought for online streaming. Chances are, you have more than a few, which will provide you with entertainment that has already been paid for.
Music lovers can also turn to YouTube and listen to entire albums for absolutely nothing. This will allow you to listen to classic and contemporary albums in their entirety, not to mention expose yourself to new music you’ve never heard before.
3. Borrow Intelligently
Unless you have a good savings account, things will happen from time to time that might put you in a position to have to borrow money. If you don’t have someone in your life who will let you borrow said money, it’s up to you to figure out how to pull funds together.
If you have to take out a loan of some sort, consider your options. Instead of putting an expense on your credit card (which often has quite high-interest rates), you can explore alternative avenues like pawn shops and even title loans online, especially if you have an extra ride in your garage or driveway that you don’t currently use.
Companies like 1800cartitleloan will save you valuable time, not to mention fuel costs. These types of loan options are generally conducted in the short-term, so you must make your payments on time. If you opt to pay off your loan sooner rather than later, you will end up saving money as well.
By taking some of the measures (or all of the measures) mentioned above, you will start saving more money daily, which will free you up to make more intelligent and lasting purchases when it comes to music and musical equipment. We wish you luck out there!
4. You will get a year of free streaming music with free services
For nothing, you will get a year and a half of ad-free music streaming!
The majority of music services have a free trial period. Spotify, Google Play, Tidal, Deezer, Napster, Groove Music, or Amazon Prime Music all offer 30 days of free music, while Apple Music offers 90 days. However, several of them offer longer offers, such as Spotify’s 90-day trial at the time of writing.
So, if you follow each of these moves, you won’t have to pay anything in your first year. Only make sure to cancel before the trial period expires. The majority of the free trials are only available once.
5. Plan your binges
What’s unique about Apple TV Plus, Netflix, Hulu, and other similar services is that you can cancel at any time and restart when it’s convenient for you, such as when a favorite show returns. Since several series last nearly a year between seasons, you can take advantage of the break and save money.
6. Choose ad-supported subscriptions
Nobody enjoys watching advertisements, but if it means saving money, you might as well do so. For example, CBS All Access costs $10 a month for ad-free streaming, but just $6 if you’re willing to watch commercials. That’s a savings of $48 per year. Also, choosing Hulu’s ad-free tier would save you $6 a month. Get a snack, go to the toilet, and fold your laundry during the commercials, just as we did in the old days.
7. Get a family plan
A family package will save you money if more than one person in your household uses a subscription service. They usually cost £15 a month, saving £5 per month for two people, but since many allow up to five or six users, the cost per person can be much lower.
This is how Becky and I use Spotify, and it’s really easy for us to share playlists. You save money by doing so. At the same time, you can all listen to different tracks. Since all of the bills go to the primary person, you’ll have to make sure your friends and family give you the money if that’s the arrangement.