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