Published June 28, 2024

3 Reasons to Cancel Amazon Prime, and 1 Reason to Keep It

Amazon Prime isn't the no-brainer it used to be.

Packages at a doorstep.

You’ve probably heard about Amazon Prime – that subscription service that promises to make your life a tad bit more convenient. Launched back in 2005, Amazon Prime started off with just free two-day shipping. These days, it’s morphed into a juggernaut offering all kinds of perks like Amazon Prime Video, Prime Music, free Kindle books, and even grocery perks at Whole Foods. It costs $14.99 a month or $139 for a year. But is it really worth it? Let’s dive into three reasons you might want to cancel that membership – and one solid reason to keep it.

Reason #1: Taming the Impulse Purchases

Alright, let’s be real for a second. Have you ever hit the "Buy Now" button on those fancy, noise-canceling headphones at 2 AM, only to wonder the next morning why on earth you needed them? You’re not alone. Amazon Prime’s fast, free shipping makes it almost too easy to buy stuff on a whim. Next thing you know, you're surrounded by gadgets and gizmos you didn’t even realize you "needed."

Canceling Amazon Prime injects a bit of friction into your shopping routine. If you have to wait a week for shipping or pay extra, you’re going to think twice before hitting that purchase button. And you know what? There are plenty of retailers like Walmart, Target, and Home Depot offering pretty quick shipping for free. So, you probably won’t feel that Prime-shaped hole in your shopping habits too much.

Reason #2: Prices Aren’t Always Prime

We’ve all been there – assuming that Amazon has the best prices on everything, just because it's...Amazon. However, that’s not always the case. In fact, you might be paying a bit extra for that convenience. Traditional retailers often have better deals, especially when you factor in in-store sales and coupons (remember those?).

For instance, buying a blender from your neighborhood store could be cheaper than getting it delivered from Amazon. So, pop by a physical store now and then; your wallet might thank you.

Reason #3: Perks Drying Up

Remember those days when Amazon Prime felt like a treasure chest of unlimited goodies? The charm is waning. Prime Video, for example, now has ads unless you shell out extra cash. Talk about sneaky! Plus, some of the other benefits aren’t as sweet as they once were. It feels like Amazon is doling out perks with one hand and taking them away with the other.

The One Big Reason to Keep It

Okay, so here’s one compelling reason to hold onto that Prime membership – Whole Foods savings. If you’re a frequent Whole Foods shopper, you’re in luck. Prime members get an additional 10% off sale items. Over time, those savings can really add up, potentially offsetting the cost of your Prime membership. It’s like getting your membership cost back just for buying your favorite organic avocados and kombucha. Just be careful not to overspend on groceries.

Conclusion

At the end of the day, Amazon Prime isn’t always the big money-saver it’s hyped up to be. Sure, it has its moments, especially if you shop at Whole Foods or binge-watch a lot of Amazon originals. But those impulse buys, potentially higher prices, and dwindling perks? Worth some serious consideration. Weigh the downsides against that handy 10% discount at Whole Foods, and think about what works best for your budget and lifestyle. Happy shopping (or not)!

Do you know where your money goes?

Most people don't even realize they're overspending on thier Amazon shopping habit because they have no idea where they're money is going. It's not thier fault — the cost of everything is going up, and it's easy to lose track of subscriptions and recurring expenses.

If you've struggled with keeping tabs on your spending in the past, Latwy might be the perfect solution. Real-time alerts, delivered seconds after swiping your card via email, Telegram, Discord, or Slack, can help you get a handle on where your money goes each month.

Amazon
A chart showing cumulative subscription spending over the course of a month.
This Month $520.16
Target pace $508.06
Target $750.00
Spending Alert!!!!!! You just spent $97.43 at AMAZON using your Capital One SavorOne Card.

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