With wallets shrinking in this cost-of-living crisis, how we British spend our disposable income is becoming increasingly important.
Thanks to the Online Betting Guide (OLBG), we now have a much clearer picture of how well we are managing these new economic conditions.
The OLBG Discretionary Spending Index showed that the average Briton is spending 62% more of their discretionary spending than in 2019-2020. Specifically, it’s over £5,000 extra.
OLBG Study delved into the 12 main categories where our money goes.
At the top of the scale, we have DIY projects (24.5% of all discretionary spending), cars (24.1%) and tobacco products (17%).
Some categories are much easier on our wallets, including gambling, which accounts for 1.9% of all our discretionary spending, and the lowest of them all, streaming subscriptions, which account for 0.3%.
Whether at the top or bottom of the index, each of these categories is still eating up more of our money than it should.
So, in addition to trying our best to spend in the most economical way, we should at least make sure we get the most out of every penny.
In light of that, we’ve come up with the top 10 ways to get the most out of your Netflix account so your spending can be channeled into enjoyable streaming.
- Choose the best plan
Your Netflix plan is critical to your streaming experience.
Choosing the right one will help you get the most out of your account without overspending.
For example, different plans will allow you to stream to multiple devices at the same time, so if you don’t have multiple people in your family who can stream at the same time, you can opt for the cheaper option.
The average monthly subscription now costs users £10.99, so choosing an effective plan is important.
- Develop a strategy for your drinking
More often than not, we get pulled into one great show that keeps us hooked for days, weeks, or even months if it has a juicy number of episodes and seasons available.
So it’s good to know in advance how long you’ll be watching something, as well as when your other favorite shows will return.
This will allow you to plan your binges and choose the right show length to watch before your next favorite returns, without having to overlap or skip any.
Plus, you’ll have a better idea of when to pause any subscriptions you won’t be using in the next few weeks or months, and save a lot on costs.
- Follow your plan
One of the most important tips is to follow your plan.
Things often change when it comes to streaming availability, and you might not have time to use Netflix, or you might be watching something on a different service.
So make sure you always pause your subscription at this time to stop your account from being charged and save you unnecessary charges for an unused service.
- Personalize your profile
We all love a personal profile. And one of the great things about Netflix is that you can set your own name and icon photo for your profile.
A simple feature, but it can make your account stand out when you log in and know exactly which profile is yours thanks to your favorite fictional character printed on the front.
- Keep your friends close
Your Netflix account can have multiple profiles for your friends and family to use, so each can have their own personalized viewing experience.
This includes your own movie recommendations as well as keeping track of where you are in your movies and shows with “keep watching”.
However, Netflix has recently taken a crack at sharing passwords between households, so if you’re looking to save some money, make sure each user lives with you.
- Adjust video quality
Netflix also offers various video quality options. For HD streaming, you’ll probably have to opt for a more expensive plan.
Also, when you stream in HD, you consume a lot more data than a standard or low-quality stream.
Be aware of what video quality gives you a satisfying viewing experience without worrying about your data or bank balance.
- Rate your watch
A great feature of Netflix is the ability to rate movies you’ve watched.
This allows the Netflix algorithm to suggest movies and shows you might like based on your previous preferences.
This is a good way to make sure you’re getting the most accurate recommendations for your precious movie nights.
- Add to Watchlist
The worst feeling is trying hard to remember a great movie or show you skimmed through the other day, but it just doesn’t come to mind.
That’s why you need to use your watchlist, so if you see something that you know you’ll want to watch at another time, you can save it.
- Bring in some spontaneity
With so many movies and shows available, it can be great to watch something you’ve never seen before, or perhaps even heard of.
Perhaps you are in for an unexpected treat!
To help, Netflix’s “surprise me” feature does this for you and instantly selects a random movie you’ve never watched before.
- Watch on the go
Netflix isn’t just for lazy days at home or late nights, you can also watch movies on the go.
Download your favorite shows and movies to your devices so you can watch whatever you like while you’re out and about, on the train, or anywhere you don’t have Wi-Fi.
Endless entertainment wherever you go? Yes please.
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