Log in to Fabletics between the 1st and 5th of the month and click "Skip the Month" in the window on your homepage, then follow the prompts. You can also skip by calling Fabletics Customer Service at 1-844-322-5384, 24 hours a day. Skipping means you won't be billed the $69.95 monthly membership fee that month.
You can skip only one month at a time, so skip again each month you don't want to be billed. There's no limit on how many months you skip, and you keep VIP pricing, Loyalty Points, and tier status.