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Subscription Costs – Cancel or Try to Hold On


For my own personal business, I have several tools that I use OFTEN when I have work. Tools like Canva Pro, Social Curator, Elementor Pro and so on and so forth. I’ve had them for YEARS and they have paid for themself every year, up until now.

Here’s my dilemma.

This past week as I was working on my current bill pay schedule ie budget for the next month, I decided I would just cancel Canva as I haven’t used it at all this year and frankly, finding has been harder than it’s ever been. My thought was I can cancel my annual subscription (currently $119) and renew later when I have work.

I logged on to do just that and take that $119 back into my every day budget. And then I realized that if I cancel, yes, it will save me $119 now, but re-upping will put my rate at $145 annually (or higher if they go up in price.)

I’ve got pretty decent and in some cases, substantially good annual rates because I’ve had these tools so long and have the rates locked in. While Canva is just a $25 difference, some of them are hundreds per year in savings. And yes, that’s per tool.

What do I do?

Canva is the only one that will renew in the next month so I have to make a decision on it. The big ones all renew in the December/January time frame so I do have some time to turn things around. But I hate to lose that savings. Ugh.

I’m kind of inclined to let Canva go, it is just a $25 difference and I can use the free version in a crunch. But the others…not so easily replaceable and the savings loss would be significant if I cancelled and then renewed.

Sidenote: there are other subscriptions that I have;

1) Transitioned from annual to monthly for the time being. This helps with my monthly budgeting even though I am paying a premium. I will go back to annual as soon as I am able.

2) Cancelled – these are mostly entertainment subscriptions. But I didn’t think twice about them.

3) Am looking to replace. I changed my Dropbox subscription to monthly versus annual and am considering other options to replace it for the long run. Google One, Apple Storage, etc. are both being evaluated. I want to make sure they offer the security and integrate well with my current tech stack, in addition to the pricing before I make a move.

I’d love to know your thoughts, specifically on subscriptions where I would love significant savings if I end up cancelling them and then needing to re-subscribe down the road.



  • Reply Alice |

    My sister’s vehicle was totaled last week. She rents an apartment in town while she owns a 200+ acre farm out in the boonies that she leases out for different uses. She is now shopping for a four wheel drive vehicle because she *might* need to access something on the farm once or twice a year. I told her this was like buying a 3,000 square foot house so you can have Christmas dinner.

    For the one that is renewing next month, you can let it go. It’s not a huge expense, but you’re also not using it. $199 per year because you *might* need it at some unknown point in the future doesn’t seem like a good deal. If you DO end up needing it, use the free version until you can’t and then spend the money. You may never have to spend for this again.

    As for the other ones that renew at the end of the year, you’ll have to use that same mindset. When it’s time to renew, ask yourself whether you’re using it at all.

  • Reply Eli |

    Would you be willing to post exact numbers of what you owe and things you are paying for on a routine, like these subscriptions and mortgage and landscapers? I know you’ve laughed off the idea of showing a budget, but it is difficult to give full advice when it feels like there is a lot of hidden aspects to your spending.

  • Reply Anonymous |

    This is sunk cost fallacy. It doesn’t make sense to pay money for something you probably won’t use because it *might* cost you more later – if you even need it, that is. Kind of like spending a dollar to save a penny?

  • Reply Den |

    Get rid of them! You are in financial crisis – only pay for shelter, food, transportation to work!

  • Reply Laura |

    Why are comments taking so long to get approved? The latest ones are 5-7 days old and just became visible today.

So, what do you think ?