Subscription Audit
Where Is Your Money Going Every Month?
The Hidden Cost of Subscriptions
Subscriptions exploit a cognitive bias: we undervalue small recurring charges. $10/month doesn't feel significant, but 12 subscriptions at $10 each equals $1,440/year. Invested at 7% over 10 years, that's $20,000+ in lost wealth.
The "subscription audit" exercise forces you to see all your recurring charges in one place. Most people who do this for the first time are surprised by the total — and immediately find 2-3 subscriptions they forgot they had.
Audit Checklist
- Check all payment methods — Review credit cards, debit cards, PayPal, Apple Pay, and Google Pay. Subscriptions hide across multiple payment sources.
- Apply the "last 30 days" test — If you haven't used a service in the last 30 days, cancel it. You can always resubscribe if you actually need it.
- Look for free alternatives — Many paid tools have excellent free versions or alternatives. Canva Free, Google Docs, YouTube (free tier), library apps for audiobooks.
- Bundle where possible — Family plans, annual billing (usually 15-20% discount), and service bundles can significantly reduce per-subscription costs.
Frequently Asked Questions
How many subscriptions does the average person have?
The average American has 12 paid subscriptions totaling $200-$300/month. Many people underestimate their subscription spending by 2-3x because the charges are individually small and spread across different billing dates and payment methods.
What is the best way to track subscriptions?
Review your bank and credit card statements for the last 3 months. Search for recurring charges. Many banking apps now have subscription detection features. Alternatively, use a spreadsheet or subscription tracking app to maintain an ongoing list.
How much can I save by canceling unused subscriptions?
Most people can save $50-$150/month by canceling subscriptions they rarely use. The most commonly wasted subscriptions are streaming services (average person uses 2-3 but pays for 5+), fitness apps, news sites, and productivity tools with free alternatives.