Published on November 22, 2018 2:59 pm, by Pete Lalor
We’ve all been there. Signed up for some kind of product or service, provided our credit card details. Used it for a short while and then lost interest, but never gone back and cancelled the subscription or membership.
They might be small amounts, but they all add up, and over the long term they can add up to a lot.
Continuing to pay for an online music service you signed up to but don’t use can cost you big in the long term. To help you appreciate just how much it can cost you, we’ve estimated the “opportunity cost” of paying for these services for a year rather than using the money to pay off your mortgage or contributing it to your superannuation fund.
Here is our guide to cancelling online music subscription.
Online music subscriptions
|Services||Subscription||Opportunity cost||How to cancel|
|Apple Music||$11.99 per month (students are $5.99, families are $17.99)||Open the iTunes Store app, scroll to the bottom of the screen and select View apple ID, enter your password or use Touch ID, tap Subscriptions, then tap Apple Music and select Cancel Subscription|
|Google Music||$11.99 per month||Open the Google Play Music app and select settings - Cancel Subscription or go to play.google.com/store/account/subscriptions in a web brower, find the subscription and select Cancel subscription|
|Spotify||$11.99 per month||Login to the Spotify web site or app, go to your account details, click on subscription and then cancel your subscription|
|Amazon Music||$11.99 per month||Cancel at any time through www.amazon.com
If you signed up through iTunes you have to manage your subscription through iTunes or the App Store
This summary has been prepared by MoneyBrilliant Pty Ltd (AFSL 492711, ACL 493068). The information in this summary is of a factual nature only. We are not suggesting or recommending that you take any particular course of action in relation to any financial product or service. It does not take into account your personal circumstances or objectives. If you need financial advice you should seek advice from a licensed financial adviser.
Peter is the CEO of MoneyBrilliant. He has over 20 years experience in banking, insurance and accounting. Peter has three sons, ranging in age from 16 to 3, is a sport and fitness fanatic and a volunteer firefighter. He is passionate about improving people's lives through making financial services more accessible.