"Subscriptions to Die For: Britons Could Be Saving Up to £400 a Year by Cutting the Cord"
Millions of UK households are racking up unnecessary charges on subscription services, with millions more struggling to keep track of their recurring payments. A new survey from Nationwide has found that nearly 20% of subscribers do not use every platform they pay for, leaving them potentially hundreds of pounds out in the cold.
The good news is that it's never too late to reassess your spending and cut back on unnecessary subscriptions. With Christmas finances still tight for many, 31% of respondents plan to review and cancel unused services this year. But how can you identify which subscriptions are worth keeping and which ones can be ditched?
One expert recommends starting with a thorough audit of your spending. Go through your bank statement and collate payments to TV, delivery, media, and product subscriptions on a spreadsheet, noting when you last used each service and the total cost. You may uncover forgotten or unused subscriptions that are bleeding cash from your account.
Rebecca Bebbington of NetVoucherCodes advises making a list of everything you pay for regularly, including monthly, quarterly, or annual payments. Note down which services you actually use and mark down the renewal dates. This will allow you to weigh up which services you value most and those that are expendable.
The key is to be ruthless when it comes to subscriptions that no longer bring value to your life. If you signed up for a streaming service only to watch one show, it's time to cancel. Try "leapfrogging" - sticking with one subscription at a time and planning how you watch, enjoy, cancel, and then move on to the next.
You may also be entitled to some subscriptions for free alongside other products or services. For example, if you have a Club Lloyds bank account, you get a free "lifestyle benefit" that includes 12 months of Disney+. But remember to take advantage of free trials and promotions, and don't forget to cancel after the trial period ends.
New consumer protections due to come into effect later this year will require companies to contact people with details of their subscriptions and how to cancel them. Meanwhile, you can start saving hundreds of pounds a year by cutting back on unnecessary subscriptions.
Millions of UK households are racking up unnecessary charges on subscription services, with millions more struggling to keep track of their recurring payments. A new survey from Nationwide has found that nearly 20% of subscribers do not use every platform they pay for, leaving them potentially hundreds of pounds out in the cold.
The good news is that it's never too late to reassess your spending and cut back on unnecessary subscriptions. With Christmas finances still tight for many, 31% of respondents plan to review and cancel unused services this year. But how can you identify which subscriptions are worth keeping and which ones can be ditched?
One expert recommends starting with a thorough audit of your spending. Go through your bank statement and collate payments to TV, delivery, media, and product subscriptions on a spreadsheet, noting when you last used each service and the total cost. You may uncover forgotten or unused subscriptions that are bleeding cash from your account.
Rebecca Bebbington of NetVoucherCodes advises making a list of everything you pay for regularly, including monthly, quarterly, or annual payments. Note down which services you actually use and mark down the renewal dates. This will allow you to weigh up which services you value most and those that are expendable.
The key is to be ruthless when it comes to subscriptions that no longer bring value to your life. If you signed up for a streaming service only to watch one show, it's time to cancel. Try "leapfrogging" - sticking with one subscription at a time and planning how you watch, enjoy, cancel, and then move on to the next.
You may also be entitled to some subscriptions for free alongside other products or services. For example, if you have a Club Lloyds bank account, you get a free "lifestyle benefit" that includes 12 months of Disney+. But remember to take advantage of free trials and promotions, and don't forget to cancel after the trial period ends.
New consumer protections due to come into effect later this year will require companies to contact people with details of their subscriptions and how to cancel them. Meanwhile, you can start saving hundreds of pounds a year by cutting back on unnecessary subscriptions.