November 03, 2017
Tickets to concerts, plays, movies: you could live without them, but saving money shouldn’t mean sucking the fun out of life.
Here’s how to curb your entertainment spending without giving up your favorite pastimes.
1. Trim your services
Explore different pricing options for the services you already have. Take steps to lower your internet and cable bills, such as negotiating, downgrading your plans or bundling the two.
2. Seek an alternative to cable
If trimming won’t save you enough, cut the cord completely. Based on the average cable bill cost, this could put upward of $100 back in your pocket each month.
Axing cable doesn’t mean you’ll be starved for content. If you can survive without watching networks like CNN and AMC live, streaming services such as Netflix and Amazon Prime Video feature movies, TV and original series libraries. If you must have extra channels, consider replacing your traditional cable package with a service like Sling TV, which offers live TV for a fraction of the cost of cable.
Looking to save even more? If you subscribe to multiple streaming services, such as Netflix and Hulu, drop the one you use less often.
3. Share memberships
Split the cost of a paid membership with a friend or relative. For example, Amazon Prime memberships cost $99 per year, but members can share benefits with another adult for no extra charge by creating an Amazon Household. This gives both parties access to free movie and TV streaming, Prime shipping and Kindle books for about $50 each. Or you can cut your Costco membership fee in half by sharing with a spouse or roommate. Members receive a free household card that they can share with another person over 18 years old who lives at the same address.
4. Shop wholesale clubs
Wholesale clubs, such as Costco and Sam’s Club, have an abundance of affordable entertainment. They sell discounted movie and theme park tickets, restaurant gift cards and more in bulk, which is helpful, especially if you’re shopping for multiple people. You’ll also find inexpensive electronics, books, movies and games.
5. Get a library card
With a public library card in hand, the entertainment world is your oyster: You don’t have to buy, or even rent, to get your fix. Use your library card to surf the web or check out movies, books, audiobooks, games and music for free.
6. Attend free events
Take advantage of street fairs, concerts in the park or other free happenings in your community. Some venues that normally charge admission — such as museums, zoos and aquariums — host free-entry days once per month. Next time you plan a dinner out or hit the bars, look for joints that feature live music or comedy shows. Check your local newspaper, coffee shop or university for a list of upcoming events.
If the sporting event or concert isn’t free, you still might be able to attend at no cost by volunteering at the venue. Just be aware that you might not fully enjoy the event if you’re busy checking tickets or collecting trash.
8. Ask about discounts
Identification is all some people need to save money. Seniors, students and members of the military — or their families — often qualify for discounts at retailers, movie theaters, theme parks, national parks and restaurants. Kids often receive discounted admissions well.
If who you are doesn’t cut it, your membership status might. For example, AAA and AARP memberships come with savings benefits. Ask if you’re eligible for special rates when making entertainment purchases.
9. Buy used
Save serious money by buying televisions, tablets, computers, movies and video games secondhand. Shop thrift stores and used book stores, and check retailers like Best Buy and Wal-Mart for refurbished tech.
10. Use credit card perks
Under the right circumstances, plastic is more budget-friendly than cash. Your credit card might offer points or cash back on tickets to the theater or sporting events, electronics purchases and other entertainment-related transactions. Certain cards give exclusive discounts on or early access to event tickets through partnerships and promotions.
11. Cut back
An obvious way to save on entertainment without giving up your “wants” entirely is to adjust your budget and set a lower spending limit for entertainment expenses. For instance, rent a movie every other week instead of weekly, or refrain from buying the latest gaming console if your old one still works.
This article is being republished with NerdWallet’s permission for informational purposes only. The views expressed in the article are the views of the author and do not necessarily reflect the views of Pentagon Federal Credit Union.