I currently subscribe to six magazines: That seems like a lot, but it’s actually down from the fifteen magazines I used to get.

Why so many magazine subscriptions? There are two reasons, really: one, I ask for them as gifts a lot, and two, I actually read them. I leave the newest issues out on the table for guests to flip through and for me to read in my spare time; when it’s time to rotate them, I read anything I may have missed.

On the other hand, for some people magazine subscriptions are a great waste of money. They sit around gathering dust and end up being lost money for the people who subscribe. In my opinion, when you’re looking for fat to trim from your budget, magazines should be one of the first places to look. Ask yourself these questions:

Do I actually read the magazine? Don’t idealize the question by saying, “Well, I would if I had time…” If you say that, then you don’t read the magazine and it’s probably a pretty good clue that you shouldn’t be subscribing. Note that this doesn’t mean you have to read every issue, just a portion of them.

Would I buy the magazine on the newsstand if I didn’t subscribe? This is what actually got me to subscribe to at least three of the magazines above - I kept reading it on the newsstand and often buying an issue. If you find yourself buying even a quarter of the issues of a magazine on the newsstand, it’s more cost-effective just to subscribe to the magazine.

Does the information in the magazine directly affect my bottom line? This is a big reason why I subscribe to Consumer Report. I used to primarily subscribe so I could use their online service as a reference to aid in product purchases. Thus, I will likely subscribe to Consumer Reports for the indefinite future, especially since there are several purchases coming up that I will consult Consumer Reports on.

Would I miss it if I canceled? I have been an avid reader of the Economist for more than 20 years. If I canceled it, I would feel that something was missing in my life, so if this is how you feel about something, then don’t cancel it.

Where should I get magazines? Usually there are always better places to get magazines than just filling out a form from the magazine. If you get those unbeatable deals in the mail – such as $198 annual value for $7 and you want it, go for it. Otherwise look for online discounts and you will be surprised by what you find.

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The Bottom Line

Take a look at what you’re doing with your magazines - you might be surprised to find the fat that you can excise from your spending. But you might also find some new ones that you actually want.