Several years ago, when Bart and I both had fairly good salaries, we had no student loans, and we lived in Texas, where the cost of living is practically zero, we had a Netflix subscription. Eventually we gave it up, for reasons I can't quite remember.
A year or so later, when we were in the throes of school, Bart suggested we resubscribe. I balked. We discussed it at length, and I finally convinced him we didn't need it.
Here's why I think you might not need Netflix as much as you think you do:
1) Redbox. There are so many Redbox codes online (I like this site), you probably never need to pay to rent a new release movie again. Blockbuster Express is also a good option with free codes. You get the movie the day you want to watch it, watch it, and return it. Done. Free (as long as you return it the next day).
2) The library (I'm a librarian. You must have known this was coming). Your tax dollars are already funding the library, so you might as well take advantage of it. Many libraries have tons of TV series, classic movies, new releases, and PBS/BBC documentaries and dramas. We have watched six seasons of 24, House M.D., a lot of Alias, and Gilmore Girls (maybe the whole series twice) (Bart would want me to note that I am the one who has watched this, not him), not to mention dozens and dozens of other films.
3) The problem with Netflix is that it just keeps coming. If the movie sits around for a week or two until you have a moment to watch it, you've paid a high premium for that specific movie. Sometimes there are weeks where you have lots of time; other weeks, you might not have any time at all for movies for long stretches. Netflix doesn't know, and frankly, they don't care, because your credit card just keeps getting billed, whether you watch the movie or not.
If you feel Netflix is an absolute necessity in your life, it's a great thing to request as a gift from your in-laws, an aunt or uncle, or some one else who wants an easy gift idea. My parents receive it each year from my dad's staff. They know he'll love it, it's easy, and everyone wins.