Sarah Mitchell
times
Subscriptions are everywhere these days. From Netflix to news apps, meal kits to music streaming, it’s easy to sign up. But the issue is it’s just as easy to forget you’re still paying for them months later. If you're looking to save money without sacrificing your lifestyle, auditing your subscriptions is one of the simplest and fastest ways to start.
Most subscriptions operate on an automatic billing model. You sign up once, and the monthly (or yearly) fee quietly gets deducted from your account. It’s convenient, but it’s also dangerous. Many people continue paying for services they haven’t used in weeks (or months), simply because they forgot to cancel.
According to a 2024 survey by C+R Research, the average American spends over $200 per month on subscriptions - yet nearly half underestimate how much they're spending.
Start by combing through your recent bank and credit card statements. Look for recurring charges, especially ones that aren’t immediately familiar. Jot down:
You can also use budgeting apps like Truebill or Rocket Money to automatically identify and track subscriptions.
Ask yourself:
Be honest - if you're not watching Hulu but keeping it “just in case,” that’s money better used elsewhere. Cancel it, and you can always resubscribe later (in fact, that’s a huge plus – these services are typically very easy to sign back up for and pick up where you left off.)
Some services can be replaced with free alternatives. Free music, news, or even basic fitness videos are widely available online. For paid services, consider family or household sharing options. For example, Spotify and YouTube Premium both offer multi-user plans that dramatically cut the per-person cost.
Annual subscriptions can be especially tricky since they charge just once a year and are easier to forget. Use a calendar app to set reminders a few days before any renewal date so you can decide whether it’s worth keeping.
Here’s the key part: don’t just “save” the money. Instead, actually move it to your savings account. Cancel a $15/month app? Move that $15 to savings right then and there. Small wins add up fast.
Subscriptions aren’t evil - they’re just easy to forget. With a little awareness and a quick audit every few months, you could save hundreds (or even thousands) a year. That’s money better spent on your goals than on unused apps.
