With the purse strings tightening amidst this cost-of-living crisis, how we Brits are spending our disposable income, has become all the more crucial.

Thanks to Online Betting Guide (OLBG), we now have a much clearer picture of how effectively we’re handling this new economic condition.

The OLBG Discretionary Spend Index revealed the average Brit is spending 62% more of their discretionary spend than in 2019-2020. More specifically, this is over £5,000 extra.

Article continues below this advertisement

The OLBG research went into depth across the top 12 categories which our money goes towards.

On the upper end of the scale, we have ‘Do It Yourself’ projects (24.5% of entire discretionary spend), motoring (24.1%), and tobacco (17%).

Some categories are much easier on our wallets, including gambling, which takes up 1.9% of our entire discretionary spend, and the lowest being streaming subscriptions, taking up 0.3%.

Whether on the high end or low end of the Index, each of these categories are still swallowing more of our cash than they ought to.

So aside from trying our hardest to spend in the most cost-efficient way, we should at least ensure we’re making the most of every penny.

Article continues below this advertisement

In light of this, we’ve come up with the top 10 hacks to make the most of your Netflix account, so your spending can go towards an enjoyable streaming experience.

  1. Choose the best plan

Your Netflix plan is crucial to your streaming experience.

Choosing the right one will help you make the most of your account without spending unnecessarily.

For instance, different plans will allow you to stream simultaneously across several devices, so unless you have multiple people in your household likely to stream at once, you can choose a cheaper option.

Article continues below this advertisement

The average monthly subscription is now costing users £10.99, so choosing an efficient plan is essential.

  1. Strategise your binges

More often than not, we get sucked into one great show which keeps us hooked for days, weeks, or even months, if it’s got a juicy number of episodes and seasons available.

Therefore, it’s good to know in advance how long you’ll be watching something for, as well as when your other favourite shows come back.

This will allow you to strategise your binges, and pick the right length show to watch before your next favourite one comes back, without having to overlap or miss any.

Also, you’ll have a better idea of when to pause any subscriptions you won’t be using for the next few weeks or months, and save big on costs.

  1. Monitor your plan

One of the most essential tips is to monitor your plan.

Things often change when it comes to your streaming availability, and you might not currently have time to use Netflix, or you may be watching something on another service.

Therefore, make sure you always pause your subscription during these times, to stop your account being charged and save some unnecessary outgoings for an unused service.

  1. Personalise your profile

We all love a personal profile. And one of the great parts 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 extra special, when you log in and know exactly which profile is yours, by your favourite fictional character printed on the front.

  1. Keep your friends close

Your Netflix account can have multiple profiles for your friends and family to use, so each one can have their own personalised viewing experience.

This includes your own film recommendations, as well as keeping track of where you are in your films and shows, through ‘continue watching’.

However, Netflix are recently cracking down on password sharing across households, so if you want to save a bit of money, make sure every user is living with you.

  1. Tweak your video quality

Netflix also has different video quality options available. For HD streaming, you’ll likely have to choose a more expensive plan.

Also, when you stream HD, you eat up a lot more data than standard or low-quality streaming.

Be aware of which video quality gives you a satisfying viewing experience, without having you worry about crunching into your data or bank balance.

  1. Rate your watches

A great feature on Netflix is the ability to rate movies you’ve watched.

This allows Netflix’s algorithm to suggest movies and shows you might like based on your previous preferences.

This is a nice way to ensure you’re getting the most accurate recommendations for your precious movie nights.

  1. Add to watchlist

The worst feeling is trying hard to remember a great film or show you scrolled past the other day, but it just won’t come to mind.

That’s why you need to use your watchlist, so if you see something you know you’ll want to watch at another time, you can save it.

  1. Sprinkle some spontaneity

With such a vast number of films and shows available, it can be great to watch something you’ve never seen before, or maybe never even heard of.

You might be in for an unexpected treat!

To help, Netflix’s ‘surprise me’ feature will do this for you, and instantly pick a random film you’ve never watched before.

  1. Watch on the go

Netflix isn’t just for lazy days in the house or late nights in, you can also watch movies on the go.

Download your favourite shows and movies to your devices, so you can watch whatever you like whilst you’re out the house, on a train, or in any ‘wifi-less’ location.

Endless entertainment wherever you go? Yes please.

Don’t miss another story! Get the Island’s latest news delivered straight to your inbox. Sign up to our daily newsletter here.

The views/opinions expressed in these comments are solely those of the author and do not represent those of Island Echo. House rules on commenting must be followed at all times.

Join our daily newsletter

News, Traffic & Travel Tweets