It’s pretty common these days to receive advice about cutting subscriptions if you need to save a little extra money in your budget. Most financial advisors would recommend putting money toward retirement planning or an emergency fund rather than spending it on underutilized services.
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Currently, an Amazon Prime membership costs $14.99 per month or $139 per year. While there is still the opportunity to receive a free trial, keep in mind you will be automatically charged for the membership after your trial period ends. So, try to line that up with both your monthly expenses as well as shopping events like Prime Day before canceling.
With that in mind, if you’ve had Prime for an extended period of time, it may be worth taking a closer look and considering the potential benefits of canceling your plan. Here are four reasons to pull the plug.
No. 1: Price Hikes Seem To Be Around Every Corner
At the beginning of 2022, the cost of Amazon Prime was $119 annually. The price increase for Prime membership plans went into effect on Feb. 18, 2022. The increase to $139 was a 15% increase over the previous price and remains the current price in 2025.
While there is no confirmed announcement regarding another price hike on Prime, Amazon is expected to increase the price of its Prime Membership from $139 annually to $159 in 2026, which may make it the right time to end your subscription.
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No. 2: You Rarely Shop at Amazon
If you find most of your shopping purchases are made through Amazon, you may be less likely to cancel your membership. This is especially true of households that depend on the free two-day delivery or two-hour grocery delivery services.
However, if you rarely shop at Amazon or your spending habits have changed significantly, you’re not likely to be getting your money’s worth from keeping the membership.
No. 3: You’re Not Using the Other Prime Benefits
Amazon Prime members receive access to Prime Video, Prime Gaming, Prime Music and access to Kindle Owners’ Lending Library. These are all perks of Prime — if you’re using them, of course.
Maybe you subscribe to other streaming services for movies, TV and music. You might have a separate gaming console you love. Or you enjoy visiting the library to check out physical books and e-books. If you find you can easily live without these additional entertainment perks, it may be easier to cancel Amazon Prime.
No. 4: You Can Get Better Deals Elsewhere
Some Prime members may appreciate the swift deliveries of groceries via Amazon Fresh or using the Amazon Pharmacy service. However, savvy shoppers may be focusing on other retailers and supermarkets where they can get even better deals.
A frequent Costco or Sam’s Club shopper, for example, may be less inclined to give up their annual membership to these warehouse clubs or the benefits that come with these memberships. Shoppers at grocers like Aldi may enjoy the breadth of savings available to them, while those who shop at Target can receive access to price-matching options.
Still, other shoppers may wish to shop local and support small businesses in their communities. Some consumers may have different pharmacy preferences or visit a local pharmacist they have been with for a long time. Ultimately, Prime members need to weigh whether they’re getting a better deal with Prime versus other retailers.
Final Take To GO: How To Cancel Your Amazon Prime
If you have decided that a Prime membership no longer meets your needs, you can easily end it. Instructions on Amazon.com state members may go to their Prime membership account and select update, cancel and more options. Follow the on-screen instructions and you’ll be able to cancel Amazon Prime.
Heather Taylor contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: 4 Reasons You Should Cancel Your Amazon Prime Subscription
