Jan 23, 2023

Have you ever forgotten about a subscription that you had on auto-pay?

The new year is always a great time to review credit card and bank statements and tally up your monthly subscriptions. Ask a simple question: What subscriptions are frequently bringing you joy and which would you not miss in a month if you cancelled today? 

Here are some stats highlighting how people lose track of subscriptions (CNBC): 

  • More than half of consumers (54%) underestimate how much they spend monthly on subscriptions by at least $100; for 24%, the difference was $200 or more.
  • On average, consumers spend $133 a month — about $1,600 a year — more than estimated, the study showed.
  • Chart below shows the most forgotten subscriptions: 


FinCap Friday's Endless Stream episode strikes a cautionary note to keep an eye on your streaming subscriptions




About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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