For the first time since 2014, there will be an Amazon Prime price increase. It is hardly surprising, there hasn’t been an area of living where we haven’t seen a price hike. With the enhanced cost of living, it was inevitable that Amazon was going to bump up their prices. They have said it is because of “increased inflation and operation costs.” Let’s have a look at the Amazon Prime price increase and see if the increased costs are worth it.
What Is Amazon Prime?
Amazon Prime gives you free unlimited next-day delivery, entertainment and live sport. Within that entertainment, you can watch content such as The Terminal List and The Boys, as well as listen to Amazon Music. There are Premier League football matches streamed too. With all of this, many view it as a one-stop shop for shopping and streaming. That does come with a price though.
How Much Does It Cost?
Currently, Amazon Prime costs £7.99 a month or £79 if you pay annually. That annual payment saves you over £16. There is an Amazon Prime price increase on the way though.
From September 15th 2022, the monthly payment will rise by £1, pushing it to £8.99 each month.
The annual price will jump from £79 to £95. This will now save you over £12 rather than paying monthly.
One of the ways to save on this price hike is by signing up with an annual payment before September 15th. This will give you a year at the cheaper price. Not everyone will have the spare cash to do this though.
If you like the service but want to avoid the enhanced cost, you can find ways to save some money.
How To Save Some Cash
Do you need Amazon Prime? One of the things I’ve realised is that there is an Amazon hub only a few miles away from where I live. This means that quite often, my parcels are delivered the next day or within two days. I don’t order anything that I need immediately and as long as I spend over £20, delivery is free. Not having to pay for a subscription and still (usually) getting two-day delivery is pretty good. If you usually spend over £20 and don’t need things straight away, you can save that subscription fee for next-day delivery.
It’s also worth looking at the other subscription services and what they offer. Disney+ and Netflix might have content that you prefer so could be a better option for your cash. Of course, different platforms have new content all the time and if you want to watch the new The Lord Of The Rings: The Rings of Power series, coming out on Amazon in September, you could pay monthly rather than annually.
By paying monthly you can cancel when you can’t afford it, however, annual payments will be cheaper in the long run.
Final Thoughts
Now is the time to look at what is coming out of your account every month and claw back some of that money. It could be gym memberships or even old mobile phone insurance you have forgotten about. We so often sign up for a free trial and then forget to cancel. Ensure that every penny coming out of your account is being put to the best possible use.
