Amazon.com is an online store that offers everything you can think of. Everyone’s familiar with Amazon. You see their trucks delivering packages in your neighborhood; you may even have an Amazon subscription. Amazon thrives on the subscription business model. So, if you’re part of the subscription economy, you’ll enjoy these hacks. If you are not part of the subscription economy, you might consider joining if you frequently shop online. There are many advantages and disadvantages to being part of the subscription economy.

Let me break it down for you:

Advantages of Being Part of the Subscription Economy

1. Convenience: Subscriptions often automate access to products or services, saving time and effort (e.g., streaming platforms, meal kits, or software updates).
2. Cost Predictability: Regular, predictable payments make budgeting easier compared to one-time large purchases.
3. Access Over Ownership: You can enjoy high-value products or services without the upfront cost of ownership (e.g., car subscriptions, SaaS tools).
4. Personalization: Many subscription services offer tailored experiences based on user preferences and data (e.g., curated subscription boxes or personalized streaming recommendations).
5. Continuous Updates: Subscribers often benefit from ongoing improvements, updates, or new features without additional costs (e.g., software or gaming platforms).
6. Flexibility: Many subscriptions allow you to cancel or pause services as needed, offering adaptability to changing circumstances.

Disadvantages of Being Part of the Subscription Economy

1. Cost Accumulation: Small recurring payments can increase over time, leading to higher long-term costs than one-time purchases.
2. Subscription Fatigue: Managing multiple subscriptions can become overwhelming, and you may lose track of what you’re paying for.
3. Dependency: Relying on subscriptions can make you dependent on the service provider, especially if they increase prices or change terms.
4. Limited Ownership: You don’t own the product or service, which can be a downside for those who value long-term possession (e.g., digital media or leased items).
5. Cancellation Hassles: Some services make cancellations difficult, with hidden fees or complicated processes.
6. Overconsumption: Easy access to services can lead to overuse or unnecessary spending (e.g., subscribing to multiple streaming platforms but only using one).

As you can see, some advantages can be disadvantages and vice versa. The key is to find a balance that works for you. Reflect on your needs and habits before committing to a subscription, and regularly review your subscriptions to ensure they are still serving you in the best way possible.

Now that you know the advantages and disadvantages of the Subscription Economy, let’s look at how Amazon has revolutionized the subscription model with its Prime membership hack#1.

AMAZON HACK #1

You may not consider this a hack, but Amazon Prime Membership offers a range of benefits designed to enhance members’ shopping and entertainment experiences. There are three different ways of acquiring membership.

Amazon Prime membership pricing:

• $14.99 per month after a free 30-day trial. Cancel anytime.
• $139 per year

Amazon Prime Student membership pricing:

• $7.49 per month
• $69 per year

Eligible Government Assistance Prime membership pricing:

• All of Prime, half the price.

Besides your shopping experience, you get many things to watch and listen to.

Free Shipping: Prime members enjoy fast, free shipping on millions of items. This includes free two-day shipping on eligible purchases and, in some areas, same-day or two-hour delivery options through Prime Now.

Free Returns: If unsatisfied with your purchase, Prime members can return most items for free. This is especially useful when buying clothes or shoes online and the size doesn’t fit.

Early Access to Deals: Amazon often offers exclusive deals and discounts for Prime members before they are available to non-members. This is great for getting a head start on holiday shopping or saving money on popular items.

Exclusive Deals and Discounts: Members receive early access to lightning deals, special promotions, and exclusive discounts. This includes savings during major shopping events like Prime Day.

Amazon Fresh and Whole Foods Market Discounts: In select areas, Prime members can shop for groceries with Amazon Fresh and enjoy exclusive savings at Whole Foods Market.

Prime Reading: Access thousands of books, magazines, comics, and more with Prime Reading. Members can borrow titles from the Prime Reading catalog at no extra cost.

Prime Video: Members can access Amazon Prime Video, which offers a vast library of movies, TV shows, and exclusive Amazon Originals. This streaming service allows for unlimited viewing on any compatible device.

Prime Music: Enjoy ad-free music streaming with Prime Music, which provides access to over two million songs and thousands of playlists. There’s also an Amazon Music Unlimited, which offers even more music options for an additional fee.

Here’s a breakdown of the key differences between Prime Music and Amazon Music Unlimited:

Prime Music

1. Included with Amazon Prime: Prime Music is part of the Amazon Prime membership at no additional cost.
2. Song Library: Offers access to 2 million songs.
3. Ad-Free Listening: Yes, it’s ad-free.
4. Offline Listening: Allows downloads for offline playback.
5. Limitations: The library is smaller, and some popular or new releases may not be available.
6. Device Access: Available on multiple devices but with fewer advanced features than Music Unlimited.

Amazon Music Unlimited

1. Separate Subscription: Requires an additional fee beyond the Amazon Prime membership (though Prime members get a discount).
2. Song Library: Provides access to 100+ million songs, including the latest releases and various genres.
3. Ad-Free Listening: Yes, it’s ad-free.
4. Offline Listening: Allows downloads for offline playback.
5. Exclusive Features: Includes HD, Ultra HD, and spatial audio options for higher-quality sound.
6. Personalized Experience: Offers more curated playlists, stations, and recommendations.
7. Device Access: Works on more devices, including advanced integrations with Alexa and Echo devices.

Summary

• Prime Music is great for casual listeners who are already Amazon Prime members and don’t need a massive library.
• Amazon Music Unlimited is ideal for music enthusiasts who want access to a much larger catalog, higher-quality audio, and the latest releases.

Twitch Prime: Gamers can benefit from Twitch Prime, which provides free in-game loot, monthly channel subscriptions on Twitch, and more. You will need a Twitch account.

Amazon Family: This benefit includes family-centric offers like 20% off diaper subscriptions and recommendations tailored to families.

Amazon Family can be a lifesaver for those with families, offering discounts on diapers and other family-centric items. Who wouldn’t want to skip the hassle of carrying heavy diaper boxes from the store to their car?

If you’re considering becoming an Amazon Prime member, take advantage of the 30-day free trial to see if it’s worth it for your lifestyle. And don’t forget to set reminders before the trial period ends so you can decide whether or not to continue.

As with any subscription service, keep track of your spending and ensure you utilize all the benefits Amazon Prime offers. If cost accumulation is a concern, you can also consider splitting the membership fee with friends or family members who can share the benefits. After all, sharing is caring!

If you’re considering becoming an Amazon Prime member, take advantage of the 30-day free trial to see if it’s worth it for your lifestyle. Remember to set reminders before the trial period ends so you can decide whether to continue.

AMAZON HACKS #2

Many people are unaware that Amazon has an Outlet section. You can access it by going to the Amazon Outlet URL: https://amazon.com/outlet. Here, you can find overstocked or clearance items at significantly lower prices than their usual listings.

This section on Amazon offers clearance deals and overstock items across various categories, including home goods, electronics, clothing, and more. It’s a great place to find discounted prices on items typically out of season or from lesser-known brands. Amazon Outlet focuses on new products that are overstocked or marked down. You can find discounts up to 80% off retail prices, making it a great place to score bargains. You can also enjoy free shipping on eligible items as an Amazon member.

You don’t have to be an Amazon Prime member, but being one can give you the following benefits when shopping on the Amazon Outlet. These include:

• Early Access to Deals: As an Amazon Prime member, you can access Outlet deals before non-members.
• Free Shipping: Prime members get free shipping on eligible items, making it easier to score great deals without worrying about extra shipping costs.
• Exclusive Discounts and Coupons: Prime members can access exclusive discounts and coupons on select Outlet items.
• Save Time with Prime Filtering Options: With Prime, you can easily filter your search results in the Amazon Outlet section by selecting “Prime” under the “Eligible for Free Shipping” option. This allows you to see only items available for free shipping as a Prime member.

AMAZON HACKS #3

Amazon also has an Amazon Warehouse selling used, open-box, and refurbished items at discounted prices. You can find this section at the Amazon Warehouse URL: https://amazon.com/warehouse. Here, you’ll find good deals on everything from electronics and home goods to books and toys.

All products are subject to thorough inspections, ensuring you receive high-quality items. Additionally, each item is backed by a 30-day return policy, providing reassurance if the product falls short of your expectations.

The difference between Amazon Outlet and Amazon Warehouse is that Warehouse items are not new. Customers may have returned, damaged them in transit, or used them as display models. However, you can often find significant discounts on products that are still in excellent condition.

AMAZON HACKS #4

Do you ever wish there was a way to know if you’re getting the best deal on Amazon? Well, there is! A website called CamelCamelCamel allows you to track price changes for any product sold on Amazon. It also shows an item’s highest and lowest prices over time, helping you decide when to purchase. You can even set up price alerts to receive notifications when an item’s price drops below a certain threshold. This hack is especially useful for bigger-ticket items where even a small price drop can save you a lot of money.

CamelCamelCamel is not affiliated with Amazon. It is an independent price-tracking website that monitors the price history of products sold on Amazon. The platform helps users track price drops, set alerts, and make informed purchasing decisions by providing historical pricing data.

While it relies on Amazon’s product data, it operates independently and is not owned or officially connected to Amazon.

AMAZON HACKS #5

Another little-known Amazon hack for saving money is the “Subscribe & Save” program. This program discounts recurring purchases of eligible products when you subscribe to receive them regularly (e.g., every month). You can save up to 15% off the regular price and don’t have to worry about running out of essential household items like toilet paper or laundry detergent.

Subscribe & Save offers free shipping, making it convenient and cost-effective. You can also cancel anytime, making it a low-risk way to save money on items you regularly purchase. Plus, with Amazon Family’s added discounts and recommendations tailored to families, this program is a no-brainer for busy households.

In summary, there are many ways to save money on Amazon beyond just using coupons or waiting for sales. These hacks can help you take advantage of lesser-known features and programs on the site to score great deals year-round. So next time you’re browsing Amazon, don’t forget to check out the Outlet, Warehouse, and Subscribe & Save sections – your wallet will thank you! So why not give these hacks a try? They could potentially save you hundreds of dollars in the long run.

AMAZON HACK #6

This is my favorite hack: Use the Chase Prime Visa as your preferred payment method. If you already have a Chase Prime Visa, that’s great! If you don’t, click here to see if you qualify. You’ll also get a $200 Amazon gift card if you qualify.

Add your Chase Prime Visa to your Amazon.com account as your Amazon preferred payment method, and enjoy several advantages at checkout when your cart totals $100 or more. There are some exceptions where your cart can be less.

1. No Interest Charges up to 1.72%: Instead of accruing interest on the total charge, the plan charges a fixed monthly fee based on the plan, which can range from 3 to 24 months. This makes it easier to manage payments without worrying about increasing interest costs.
2. Flexible Payment Durations: Cardholders can choose from various payment durations, typically 3 to 24 months, allowing them to tailor the plan to their financial situation.
3. Budget Management: Breaking down large purchases into smaller, predictable monthly payments helps manage budgets more effectively.
4. Rewards Retention: Cardholders continue to earn rewards on purchases enrolled in the plan, ensuring they don’t miss out on points or miles.
5. No Penalty for Early Payoff: Plans can be paid off early without penalties, providing flexibility if financial circumstances change.
6. Convenience: The plan can be easily managed through the Chase online account or mobile app, making tracking and adjusting payments convenient.

In addition to all these great benefits, you’ll enjoy these discounts if you have an eligible Amazon Prime Membership.

1. Amazon.com: Earn unlimited 5% back on your Amazon.com purchases
2. Amazon Fresh: Earn unlimited 5% back at Amazon Fresh online or in-store
3. Whole Foods Market: Earn unlimited 5% back at Whole Foods Market
4. Chase Travel: Earn unlimited 5% back on Chase Travel purchases
5. Gas Stations: Earn unlimited 2% back at gas stations
6. Restaurants: Earn unlimited 2% back at restaurants whether you dine in or take out
7. Local transit & commuting: Earn unlimited 2% back on local transit and commuting, including rideshare
8. All other purchases: Earn unlimited 1% back on all other purchases anywhere Visa is accepted

This hack allows you to take advantage of Amazon’s fast and free shipping while saving money on larger purchases using the Chase Pay Over Time Plan. It’s a win-win situation that makes having Amazon Prime even more beneficial.

The ability to save money by paying less interest over time is a superpower, but with every superpower comes responsibility. We’ll talk about how responsibility plays a role later. First, let’s look at the numbers.

Look at an example of a $300 laptop in your Amazon Checkout.

With Chase Pay Over Time Plan – you will only pay $25.23 per month for twelve months, and the total interest would be $2.80 because the interest rate is 1.72%.

Without the Chase Pay Over Time Plan – you will pay $27.50 monthly for twelve months, totaling $30.05 in interest at an 18% rate.

You save $27.25 using Chase Pay Over Time.

See for yourself. Use the Credit Card Calculator.

You may think, “But isn’t it better to save up and pay for the laptop upfront?” While that may seem like the responsible thing to do, it’s not always realistic. Emergencies happen, unexpected expenses arise, and sometimes, we want to treat ourselves without breaking the bank. The Chase Pay Over Time Plan allows us to make those larger purchases while being financially responsible. Remember, you can use this hack with multiple purchases in your Amazon Checkout if it is $100 or more.

Of course, as with any credit or payment plan, it’s essential to use it responsibly and within your means. By relying on this plan, don’t overspend or make purchases you can’t afford. Stay within your monthly budget.

Now, let’s talk about responsibility. “With great power comes great responsibility”, as quoted by Uncle Ben to Peter Parker in the movie Spider-Man. You must use your power wisely by not overspending or making purchases beyond your means just because you can pay over time. Remember to stick to your monthly budget. When you have multiple Chase Pay Over Time Plans, keeping track of all your payments and ensuring you can afford them is important. It’s a powerful tool, but like any tool, it needs to be used responsibly.

In conclusion, the Chase Pay Over Time Plan is a fantastic hack to save money and manage budgets while taking advantage of Amazon Prime benefits. With flexible payment durations, budget management abilities, and rewards retention, it’s a win-win situation for your wallet and shopping experience.

The ability to save money by paying less interest over time is a superpower, but with every superpower comes responsibility. We’ll discuss responsibility later. First, let’s look at the numbers.

SUMMARY:

I hope you found these four Amazon hacks helpful for saving money. Exploring these tips reveals numerous strategies to cut costs on the Amazon platform. Everyone has choices, from Prime membership perks to Chase Prime credit card payment plans. It’s crucial to be thoughtful about your purchases and continuously seek opportunities to enhance your savings.

Responsibility is crucial when utilizing these hacks. With access to credit and various payment options, overspending or making impulsive purchases can be easy. Sticking to your budget, tracking your payments, and using these hacks wisely is essential. Doing so allows you to take advantage of Amazon’s benefits while staying financially responsible. So go ahead and shop smarter with these Amazon hacks in mind!