Gold Coast Financial Planners

Hugh recently chatted with Matthew Elmas of The New Daily to discuss and share some insights on Netflix.

According to The New Daily, if you’ve watched Netflix lately you might have seen this unwelcome pop-up message: “If you don’t live with the owner of this account, you need your own account to keep watching.”

It’s an obvious sign the streaming account-sharing bonanza is coming to an end.

After years of losing millions of dollars in revenue, Netflix is finally cracking down on friends who share.

And it’s not the only one.

Spotify, Disney+ and other streaming companies are also looking to curb account sharing in a growing strategic shift across the fast-growing industry.

Which raises the question: Is it time to revisit your burgeoning list of subscriptions?

Hugh Robertson shares his insights.

Excerpt below

Centaur Financial Services managing director Hugh Robertson said the money soon adds up, and so he recommends clients audit their streaming services by working out how often they use each one.

“Start out by working out what you’ve got, what you’re paying, and what you get for that,” he said.

“Do an inventory. Then you really need to start looking at the utility you’re getting.”

Unfortunately, companies like Netflix don’t let users check how much time they have spent using their service.

But a quick way to work out whether you’re getting good value for money is to ask yourself: ‘Why did I subscribe in the first place?’

“If you subscribed for a TV show and it’s finished, cancel,” Mr Robertson said.

“If you bought Kayo to watch footy and it’s the off season, why are you paying?”

Mr Robertson said that if you used to pay $115 a month for Foxtel, then consider setting that as a new limit for all your streaming purchases.

“You have to have that philosophy of not letting yourself get ripped off,” he said.

“$10 a month is still $10 a month. That’s $120 a year.”

Click here to read the full article

For more information on Centaur’s budgeting tips, click here.

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