How to Save Big by Cutting Subscriptions You Don't Use

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Last Updated:May 07, 2024

How to Save Big by Cutting Subscriptions You Don't Use

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Look closely at your next credit card bill, and you’ll likely find a surprise.

Didn’t find anything unusual?

Take a closer look.

Chances are there’s at least one recurring charge for a subscription service you’ve forgotten or never used. Or if you do use it, maybe once a month. Americans spend close to $300 on subscriptions each month, and they do not use them all.

Wouldn’t it be nice to end subscriptions you don’t use anymore?

Some apps can do that chore for you for a small fee. Or you can do it yourself for free by paying with your time to pore over your credit card bill and making the calls to cancel unwanted services.

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Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills

Easily Find & Cancel Unused Subscriptions
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Steps to cutting subscriptions

Cutting subscriptions you don't use is a great way to save money. Here's a step-by-step guide to help you identify and cancel those unnecessary subscriptions:

List your subscriptions. Start by listing all the subscriptions you're currently paying for. Include everything from streaming services and gym memberships to magazine subscriptions and software services ranging from Netflix to Amazon Prime, Disney, Spotify and Audible.
Track your usage. Take some time to review your usage of each subscription over the past few months. Are you actually using the streaming services you're paying for, or are you going to the gym you paid for in advance? Note how often you use each subscription and whether you're getting value from it.
Identify unused or underused subscriptions. Look for subscriptions that you rarely or never use. These are the ones that are prime candidates for cancellation. Pay close attention to those you've forgotten about or don't actively benefit from. Take a good look at your bank statements, and you will be able to identify the subscriptions you have set recurring payments for and have forgotten.
Evaluate value. Consider the value you're getting from each subscription. Are there cheaper alternatives or free options that offer similar features or content? Sometimes, you can find similar content or services elsewhere at a lower cost or for free.
Review free trials and promotions. If you're currently using free trials or promotional offers for video streaming, music or audiobooks, cancel them before they automatically renew into paid subscriptions. Mark down the expiration dates of these trials to avoid unexpected charges.
Prioritize subscriptions. Prioritize your subscriptions based on their importance and how frequently you use them. Keep the ones that provide the most value or are essential to your daily life, and consider cutting the ones you can live without.
Negotiate or downgrade. For subscriptions you still want to keep but find too expensive, consider negotiating with the provider for a lower rate or downgrading to a cheaper plan with fewer features.
Cancel subscriptions. Once you've identified the subscriptions you want to cancel, take action and cancel them. Most subscriptions can be canceled from your cell phone through the provider's website or app. You can easily unsubscribe from them, and if you ever feel like going back, you can make an upfront payment instead of setting up a recurring payment.
Monitor your accounts. After canceling subscriptions, monitor your bank account and credit card statements to ensure that you're no longer being charged for them. Sometimes, it may take a billing cycle or two for the cancellation to take effect, so keep an eye out for any unexpected charges.
Reassess regularly. Make it a habit to reassess your monthly subscriptions regularly, perhaps every few months. Your needs and priorities may change over time, so staying vigilant about your subscriptions can help you continue to save money in the long run.

Lower Your Bills Quickly

Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills

Easily Find & Cancel Unused Subscriptions
Save Up To $729/Year with Truebill
80% Of Users Save Money
Track Your Spending with Ease

Easily Lower Your Bills

Apps that help manage subscriptions

Rocket Money

Rocket Money is a popular financial management app that offers a range of features to help users manage their finances, including managing subscriptions. Rocket Money automatically identifies and tracks subscriptions by analyzing bank and credit card transactions. It categorizes subscriptions, making it easy to see exactly what you're paying for each month.

Once Rocket Money has identified your subscriptions, it provides a clear overview of all your recurring expenses. You can see how much you spend on each subscription and how often you're billed. It makes it easy to cancel unwanted subscriptions directly through the app. With just a few taps, you can initiate the cancellation process, and Rocket Money will handle the rest, saving you the hassle of contacting the subscription provider yourself.

Trim

Trim is an AI-powered financial assistant designed to help users take control of their finances by providing a range of money-saving features and services. Trim automatically analyzes your bank and credit card transactions to identify and track your subscriptions. It provides a clear overview of all your recurring expenses, including subscription services, making it easy to see how much you spend each month. Trim makes it easy to cancel unwanted subscriptions directly through the app.

It also offers a bill negotiation service that will negotiate lower rates on your behalf for bills such as cable, internet, and utilities. Its team of experts will contact your service providers and negotiate better deals, helping you save money on essential services.

Further, Trim provides insights into your spending habits, categorizing your expenses and highlighting areas where you may be overspending. It helps you save money effortlessly with its automatic savings feature. It analyzes your spending patterns and regularly sets aside small amounts of money in a savings account. Trim offers personalized financial advice based on your unique financial situation and goals. Whether you're looking to save for a major purchase, pay off debt, or improve your credit score, Trim provides actionable recommendations to help you succeed.

Read a full review of Trim.

Bobby

Bobby is a user-friendly iOS app designed to help users effortlessly manage their subscriptions and recurring expenses. Bobby allows users to track their subscriptions and recurring expenses in one convenient location. Users can easily add subscriptions manually or import them from their email inbox, ensuring that no subscription slips through the cracks.

It provides customizable reminders for upcoming subscription renewals and payments. Users can set notifications to alert them a few days or weeks before a subscription is due to renew, helping them avoid unexpected charges and allowing them to cancel or adjust subscriptions as needed. Bobby allows users to sync their subscription data across multiple iOS devices, ensuring that they have access to their subscription information wherever they go. This feature is especially useful for users who regularly switch between different Apple devices.

Lower Your Bills Quickly

Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills

Easily Find & Cancel Unused Subscriptions
Save Up To $729/Year with Truebill
80% Of Users Save Money
Track Your Spending with Ease

Easily Lower Your Bills

The bottom line

Canceling unused subscriptions is a simple yet effective way to manage your finances and save money. By regularly reviewing your subscriptions, identifying those you no longer need or use, and canceling them, you can free up funds for more valuable expenses, simplify your finances, and reduce the risk of accumulating unnecessary debt.

It's a proactive step toward mindful spending and financial well-being, allowing you to align your expenses with your priorities and goals. So, take the time to assess your subscriptions, make informed decisions, and reap the benefits of a more streamlined and financially healthy lifestyle.

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