4 Reasons You Should Cancel Amazon Prime
It’s not uncommon to receive advice about cord-cutting if you need to save a little extra money in your budget. Increasingly, more people are being advised to cancel one of their streaming services such as Amazon Prime.
Currently, an Amazon Prime membership fee is $14.99 a month or $139 per year. While there is still the opportunity to receive a free trial of Prime, those who sign up are automatically charged for the next membership period after their trial period ends. If you have had Amazon Prime for an extended period of time, there may be a few benefits to canceling your subscription. Here are some of the reasons why you should cancel Amazon Prime.
It’s Always Possible There May Be Another Hefty Price Hike
At the beginning of 2022, the cost of Amazon Prime was $119 annually. The price increase for Prime membership plans went into effect on Feb. 18, 2022. The increase to $139 was a 15% increase over the previous price.
While there is no confirmed statement or upcoming plans regarding another price hike on Prime, it is possible Amazon could increase prices again. Members who cancel now would be able to pocket $139 in savings immediately on membership fees.
Take Our Poll: Are You In Favor of More Inflation Relief in 2023?
You Rarely Shop At Amazon
If you find most of your shopping purchases are made through Amazon, you may be less likely to cancel your membership. This is especially true of households that depend on the free two-day delivery or two-hour grocery delivery services.
However, if you rarely shop at Amazon or your spending habits have changed significantly, you’re not likely to be getting your money’s worth in keeping the membership.
You’re Not Using the Other Amazon Prime Benefits
Amazon Prime members receive access to Prime Video, Prime Gaming, Prime Music and access to Kindle Owners’ Lending Library. These are all perks of Prime — if you’re using them, of course.
Maybe you subscribe to other streaming services for movies, TV and music. You might have a separate gaming console you love. Or you enjoy visiting the library to check out physical books and e-books. If you find you can easily live without these additional entertainment perks, it may be easier to cancel Amazon Prime.
You Can Get Better Deals Somewhere Else
Some members of Amazon Prime may appreciate the swift way the service provides deliveries of groceries via Amazon Fresh or using the Amazon Pharmacy service.
However, savvy shoppers may be focusing on other retailers and supermarkets where they can get even better deals.
A frequent Costco or Sam’s Club shopper, for example, may be less inclined to give up their annual membership to these warehouse clubs or the benefits that come with these memberships. Shoppers at grocers like Aldi may enjoy the breadth of savings available to them while those who shop at Target can receive access to price-matching options. Still, other shoppers may wish to shop local and support small businesses in their communities. And some consumers may have different pharmacy preferences or visit a local pharmacist they have been with for a long time.
Ultimately, Prime members need to weigh whether they’re getting a better deal with Prime versus other retailers.
How To End Your Amazon Prime Membership
If you have decided a Prime membership no longer meets your needs, you can easily end it.
Instructions on Amazon.com state members may go to their Prime membership account and select update, cancel and more options. Follow the on-screen instructions and you’ll be able to cancel Amazon Prime.
More From GOBankingRates