The Subscription Economy Got Us
Companies figured out that you're more likely to say yes to $9.99 a month than $120 a year, even though it's the same money. And once you're subscribed, inertia takes over. Canceling requires effort. Staying requires nothing.
The average American now has over 12 paid subscriptions. Many people have subscriptions they've completely forgotten about, still charging their card month after month for services they haven't used in ages.
The Hidden Total
Here's a quick exercise. Write down every subscription you have. Include streaming services, software, apps, gym memberships, subscription boxes, news sites, gaming services, cloud storage, and anything else that charges you regularly.
Now add them up. For most people, that number is significantly higher than they expected. $200 to $400 per month in subscriptions isn't unusual, and that's $2,400 to $4,800 per year.
The Audit Process
Go through your subscriptions and ask yourself: have I used this in the last 30 days? If not, why am I paying for it?
- Check your credit card and bank statements for recurring charges
- Look for annual subscriptions you forgot about
- Review app store subscriptions on your phone
- Consider which services you could share or rotate
You don't have to cancel everything. Just be intentional. Maybe you rotate streaming services instead of having all of them at once. Maybe that gym membership isn't worth it if you haven't gone in two months.
Track Your Recurring Expenses
Spendify automatically identifies and tracks your subscriptions, making it easy to see what's charging you every month. No more surprises when you realize you've been paying for something you forgot existed.
.avif)
