I really need to cut back - my Etsy bill for last month was high. I was listing or renewing "whenever" and not paying enough attention. .20 to list or renew doesn't sound like anything, but it quickly adds up!
I only renew when I have sold an item that I have multiples of, but I list as often as I can as I need to get the number of items in my shop up. I think with the change in the search to favor relevancy over recent items renewing just for the sake of renewing doesn't seem to be as much help.
My rule, since owning my previous shop, has been to only renew when I sell something, or if I can't do a daily listing. So, at the most I'm pay about $6 a month to renew, or list, a daily item.
I can't believe how fast they add up! I actually don't notice much change in traffic or sales when I renew a lot, so I am cutting back pretty much to only listing new items. I think the key is just listing new items a lot (which is easier said than done...)