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Saving on Sneaky Subscriptions


While subscription services bring ease into our lives, they also have a sneaky tendency of piling up without us noticing. According to a Deloitte survey, Americans aged 25 to 40 reported being committed to an average of 17 subscriptions, and 40% of these people reported feeling overwhelmed by this amount. That’s why we’re here to share some quick tips to save on those sneaky subscriptions!



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The Old Fashioned Way


Vetted by clark.com, there is the tried and true tactic of printing out your credit card statement each month and giving it a good, thorough line-by-line read. This useful practice increases awareness of your personal spending while simultaneously allowing you to catch places where you could save money.

  1. Highlight all your monthly subscriptions.

  2. For each subscription, ask yourself the following questions:

  3. When was the last time I used this product or service?

  4. Can I find a cheaper version of this product or service without sacrificing quality?

  5. Does this ultimately bring me joy?

This reflection will help you cut out places in your life that are causing unnecessary financial burdens!




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Via Phone Settings


If the majority of your subscriptions originate from apps on your phone, the easiest way to track your spendings is through your settings! For iPhone users, you can find a running list of your active subscriptions on your Apple ID profile → subscriptions. For Google phone users, visit the Playstore app → subscriptions. From here, you can ask yourself the same reflection questions and weed out the apps that are no longer useful for you!


Free Trials


These always get me. Services tactically require you to input your credit card information in order to initiate your free trial period and often do not remind you when the trial is coming to an end. I’ve had my fair share of shocking monthly bills from apps that I told myself I’d cancel within the week. My pro tip - once you sign up for any type of free trial, immediately set a reminder on your phone to notify you three days before that period ends. This ensures adequate time for reflection and leaves room for you to contact support in case there are any issues with modifying your subscription!



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Photo from Unsplash


Here at Stride, we aim to offer support for our students to succeed personally, professionally, and financially! Stay tuned for more easy tips on how to take control of your financial freedom!


Sources

https://www.pcmag.com/how-to/track-and-manage-your-paid-subscriptions#:~:text=Navigate%20to%20Settings%20%3E%20%5Byour%20name,and%20in%20your%20macOS%20settings.

https://www.chargebackgurus.com/blog/8-tips-to-manage-recurring-billing-and-subscriptions

https://www.creditabsolute.com/stop-wasting-money-on-subscriptions-heres-how-to-cancel-subscriptions-you-forgot-about/


Mentioned in this article

https://clark.com/personal-finance-credit/manage-monthly-subscriptions/

https://www2.deloitte.com/us/en/insights/industry/technology/digital-media-trends-consumption-habits-survey/summary.html

https://support.apple.com/en-us/HT204939

https://support.google.com/googleplay/answer/7018481?hl=en&co=GENIE.Platform%3DAndroid