Millions of UK households are quietly draining their bank accounts with unused or duplicate subscription services. A recent survey by Nationwide has found that 19% of subscribers do not utilize every platform they pay for, resulting in recurring charges that could save them hundreds of pounds per year.
The start of a new year is seen as an opportunity to reassess spending and priorities. Experts recommend conducting an audit of subscription services, including apps and streaming platforms, to identify any forgotten or unused subscriptions.
Rebecca Bebbington from discount site NetVoucherCodes suggests creating a list of all regular payments, noting down which services are actually used and marked with renewal dates. Armed with this information, subscribers can weigh up the value of each service and make informed decisions about cancellations.
The key to saving money on subscription services is not just about cancelling unused accounts but also about optimizing existing subscriptions. For example, switching from individual streaming plans to a premium family plan can be significantly cheaper for households with multiple members.
With new consumer protections set to come into effect later this year, companies will be required to contact customers with details of their subscriptions and provide guidance on how to cancel them.
Before making any changes, subscribers should take the time to review their subscription services and make informed decisions about what they want to keep and what they can let go of. By doing so, they could save up to £400 per year, according to Nationwide's research.
The start of a new year is seen as an opportunity to reassess spending and priorities. Experts recommend conducting an audit of subscription services, including apps and streaming platforms, to identify any forgotten or unused subscriptions.
Rebecca Bebbington from discount site NetVoucherCodes suggests creating a list of all regular payments, noting down which services are actually used and marked with renewal dates. Armed with this information, subscribers can weigh up the value of each service and make informed decisions about cancellations.
The key to saving money on subscription services is not just about cancelling unused accounts but also about optimizing existing subscriptions. For example, switching from individual streaming plans to a premium family plan can be significantly cheaper for households with multiple members.
With new consumer protections set to come into effect later this year, companies will be required to contact customers with details of their subscriptions and provide guidance on how to cancel them.
Before making any changes, subscribers should take the time to review their subscription services and make informed decisions about what they want to keep and what they can let go of. By doing so, they could save up to £400 per year, according to Nationwide's research.
oh my gosh, can you believe how much people are wasting money on subscriptions?! 
I mean, 19% of people not using everything they pay for? That's crazy talk! 
it's like, we're all guilty of this at some point, but now that the new consumer protections are coming in, companies will have to reach out and remind us to cancel unused accounts. which is actually kinda awesome because it's gonna save us all so much dosh! 
so yeah, let's get ahead of this and do a subscription audit, mark down what we're using and when we need to renew, and make some smart decisions about what's worth keeping and what can go 
. i think its crazy how many people dont even realize theyre wasting money on these things. i mean, i just cancelled my gym membership because i was only using it 2x a week 
. i had to go through all my old receipts and make a list of what im paying for and what im actually using. its been super helpful. maybe we should start a thread about this? 
i've been doing some research and found out that most people dont even know they have duplicate subs 
. Get a grip, people!
I mean, who hasn't, right? 
But seriously, it's crazy how much money we can save by just taking a closer look at our spending habits. I've started going through my own list (yes, I made one too 
) and I found like 3 subs that were no longer needed 
Now I'm saving so much cash and we can use it for more important things... like taking a relaxing Sunday Funday 
. Has anyone else done this? What were your finds? 
#SubsciptionSavings #NewYearNewMoney #OptimizingMyBudget
, can't we just cancel our subs ourselves without them bugging us? Anyway, gotta give credit where credit's due, it's about time someone reminded us to take charge of our money 
. I mean, who wants to take the time to make a list of all their payments and figure out which ones they use? It sounds like more work than just leaving things as they are 
. And what's the point of even switching to a family plan if you've got everyone at home using individual streaming services already? 
Plus, I'm sure companies will be totally transparent about their subscription plans and won't just try to scam people out of their money 
.
Not to mention the recurring charges that add up to hundreds of pounds per year. Can't we just take a step back and do a subscription audit like experts suggest? Make a list, review our usage, and cancel what we don't need? It's not rocket science, but I guess it's easier said than done...