When you subscribe to a magazine, streaming service, or makeup trial kit, you probably notice the cost per month. What’s $5 or $10 here or there? So, you start adding more streaming services, or a newspaper subscription, or another app, or you sign up for one of those companies that sends you a new pair of yoga pants every month.
But the cost of subscribing is more than just the monthly fee—you’re paying twelve times a year for that product or service. Do you really need that much of what you’re paying for?
Review your transactions from the past month to see what digital and physical subscriptions you’re buying. While you’re at it, check whether the monthly price is what you expect. Many subscriptions start you off at a lower introductory price, then increase it once you’re hooked. Or perhaps you signed up for a free trial, then forgot to cancel the service once your trial ended.
Auditing your subscriptions doesn’t mean depriving yourself of the content or products you enjoy. It simply requires you to take stock of where your money is going. Once you know, you can consider the cost per year for those subscriptions. You may discover a few you’re not enjoying as much as you hoped. If that’s the case, it’s time to cancel and put that money back into your budget, where you can spend it on something that matters to you.