Millions of Britons are quietly losing hundreds of pounds every year due to unused or duplicate subscription services. According to a recent survey by Nationwide, nearly 20% of subscribers fail to use every platform they pay for, leaving room for significant cost savings. In fact, it's estimated that individuals could save up to £400 per year simply by canceling or merging their subscriptions.
The start of the new year often marks the perfect opportunity to reassess spending and priorities. With money tight after Christmas, many people are taking a closer look at their regular outgoings and factoring them into their budgets. Experts recommend starting with an audit of spending on apps and services to identify any unused or forgotten subscriptions.
To get started, simply review your bank statement, collate payments for TV, delivery, media, and product subscriptions on a spreadsheet, and note when you last used each service and the total cost. You may be surprised to discover hidden subscriptions lurking in the background. Personal finance expert Rebecca Bebbington advises making a full list of everything you pay for regularly and marking down renewal dates.
When evaluating your subscriptions, ask yourself: is there any point continuing to pay £9.99 a month for Apple TV if you've finished binge-watching "Severance" or "Ted Lasso"? You can cancel monthly streaming contracts at any time, and shows or films may be available on different services.
One strategy is to "leapfrog," sticking with one subscription at a time instead of juggling multiple options. Plan how you watch, enjoy, cancel, and then hop onto the next. Additionally, some subscriptions offer free trials, while others have promotional codes that can reduce costs.
If you're part of a household, consider the benefits of sharing subscriptions. For example, if you pay £95 per year for Amazon Prime, you'll receive a Deliveroo Plus Silver package with it, providing free delivery on orders above £15. Another option is to take advantage of discounted rates offered by companies when you threaten to cancel.
New consumer protections set to come into effect later this year will require companies to contact people with details of their subscriptions and how to cancel them. Meanwhile, individuals can make informed decisions about their spending and savings by utilizing tools like online calculators to track progress toward their financial goals.
The start of the new year often marks the perfect opportunity to reassess spending and priorities. With money tight after Christmas, many people are taking a closer look at their regular outgoings and factoring them into their budgets. Experts recommend starting with an audit of spending on apps and services to identify any unused or forgotten subscriptions.
To get started, simply review your bank statement, collate payments for TV, delivery, media, and product subscriptions on a spreadsheet, and note when you last used each service and the total cost. You may be surprised to discover hidden subscriptions lurking in the background. Personal finance expert Rebecca Bebbington advises making a full list of everything you pay for regularly and marking down renewal dates.
When evaluating your subscriptions, ask yourself: is there any point continuing to pay £9.99 a month for Apple TV if you've finished binge-watching "Severance" or "Ted Lasso"? You can cancel monthly streaming contracts at any time, and shows or films may be available on different services.
One strategy is to "leapfrog," sticking with one subscription at a time instead of juggling multiple options. Plan how you watch, enjoy, cancel, and then hop onto the next. Additionally, some subscriptions offer free trials, while others have promotional codes that can reduce costs.
If you're part of a household, consider the benefits of sharing subscriptions. For example, if you pay £95 per year for Amazon Prime, you'll receive a Deliveroo Plus Silver package with it, providing free delivery on orders above £15. Another option is to take advantage of discounted rates offered by companies when you threaten to cancel.
New consumer protections set to come into effect later this year will require companies to contact people with details of their subscriptions and how to cancel them. Meanwhile, individuals can make informed decisions about their spending and savings by utilizing tools like online calculators to track progress toward their financial goals.
Like, who else is guilty of having £400 burning a hole in their pocket every year just because they forgot about some old subscription? 
It's time to get real with ourselves and make those audits happen! 
Make a list, check off the ones you haven't used in ages, and then cancel or merge those bad boys. I'm all for sharing subscriptions too - why pay £95 for Amazon Prime when you can just use Deliveroo Plus Silver? 
It's all about making conscious decisions about our spending and finding ways to save that extra cash 
It's crazy how much money we waste on things we don't even need. And don't even get me started on the "leapfrog" strategy... like, why are there so many options in the first place?! 
But for real, I'm low-key impressed that they're introducing these new consumer protections. Maybe it'll motivate people to re-evaluate their spending habits and save some serious cash 
And don't even get me started on Apple TV - if you're not binge-watching the latest shows, do you really need it? Just cancel what you don't use and save that £400 a year for something actually worthwhile 
! Cancel those unwanted subs already! 
Just think of all the other cool things you could get with that kind of cash! 
. Anyway, I'm definitely going to start auditing my own subscriptions and seeing where I can cut back. Thanks for the tips! 
i got a friend who pays for amazon prime but never uses deliveroo plus silver they should share it or cancel one of them idk why people still havent cancelled their subscriptions after reading this article 
I'm surprised ppl dont do this more often. it's crazy how many people pay for multiple services just cuz they signed up and forgot 
. Like, who needs 3 music streaming services? 