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The Often Unknown Benefits of Amazon Prime – Why You Could be Unnecessarily Giving Away Money

I’ve come across many Amazon prime members who are practically giving away money because they don’t realize all of the benefits that come with an Amazon Prime membership. By making the most of your Prime membership, you may actually be able to cut down your costs by hundreds of dollars a year – essentially paying for your membership and then some!

To help make sure that you are getting the most from your Amazon experience, I’ve compiled a list of the perks included with your membership. If you consume much of your media online, you may discover that Amazon gives you the opportunity to drop other monthly services and cut your bills down significantly.

1. Free 2-Day Shipping

amazon packagesEveryone knows that Amazon Prime offers free 2-day shipping. In fact, this is the reason why most people purchase the service in the first place. And, while this alone makes the membership worthwhile for many people, it is just the tip of the iceberg.

2. Free Video and TV Show Streaming

If you have Amazon and Netflix, you’re costing yourself money. The $99 Prime membership includes unlimited access to Amazon’s streaming services. Although Netflix does have a slightly better collection, Amazon is constantly improving theirs. Additionally, if you drop your $8-15 Netflix membership, you could rent two films online every month (thru Amazon, Google, or iTunes) and still come out ahead!

3. Free Music Streaming

amazon musicIn addition to reducing your movie streaming costs, Amazon provides its members with a huge collection of music – all for free! Although Spotify and Pandora have free versions, if you purchase the ad-free listening, you’ll be spending $5-10 a month for their service. While, like in the movie streaming market, Amazon’s collection isn’t quite as impressive, the millions of songs found on Amazon should be able cover the vast majority of your listening needs.

4. 2-Hour Delivery (In Select Areas)

While I don’t live where this is available, if you are from particular cities, you may discover that your Prime membership can give you discounted 2-hour deliveries! Even if you don’t live in one of these cities, you may discover that, while on vacation, you forgot deodorant, underwear, or your kid – Amazon can deliver two of these three items to you in just two hours. While the deliver is still done by people, and not drones, it’s still pretty cool.

5. Free Photo Storage

While PhotoBucket charges anywhere from $30-400 per year for their photo storage, Amazon Prime gives you unlimited photo storage with your membership. You can upload photos from a web browser, or from their Android and iPhone apps – making it easy to keep your memories stored safely and inexpensively.

6. Early Access to Great Deals

Amazon has lightning deals that run for a short period of time – often until the item is sold out. If you happen to find something that you are looking for in one of these deals, you can save a significant amount off of the regular purchase price. Although everyone has access to lightning deals, Prime members receive access 30 minutes early.

Furthermore, July 15 is Prime Day – a day that Amazon advertises as having deals even better than Black Friday!

7. Read a Book of Your Choice Free, Every Month

amazon kindle booksAmazon has a collection of over 500,000 books in it’s Kindle Owner’s Lending Library. Most of these books are self-published by authors. Although it is rare to find popular best sellers on this list, the large selection means that you should be able to find something that interests you. If you enjoy reading books on your Kindle, taking advantage of this offer can save you a couple more bucks a month.

Extra Ways to Save

Clearly, the benefits of the $99 a year Amazon Prime membership, when fully taken advantage of, can save hundreds of dollars every year. However, if you are a student you can cut that membership price in half and receive a free 6-month trial membership by checking out Amazon Student. Finally, if you are a mom (or primary care giver) you can receive free 2-day shipping and 20% off the cost of diapers with Amazon Mom.

I am an Amazon fan boy, and with every new service they provide, I am that much more impressed with this company. What are your thoughts? Is a Prime membership something you would recommend?

Rob

Rob is enthusiastic about everything related to money and investing. A financial analyst and instructor, he enjoys using what he’s learned from 10 years of studying business and money to help others achieve financial stability. He founded Money Nomad in 2014!

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