With a subscription for just about anything money can buy, it’s all too easy to sign up, start paying, and then forget about it.
From software, TV and music streaming to snacks, meal boxes, and household essentials – including pet supplies and toilet paper – if you can think of it, there’s likely a subscription service promising to deliver.
Good news, bad news
Subscription models are great for businesses. They deliver predictable cash flows, as well as stability and scalability – where there’s one customer, there are many.
And for modern-day consumers hooked on the teat of efficiency and convenience, many have succumbed to the promise of flexibility and lower upfront costs.
But multiple subscriptions costing seemingly small sums can soon add up to far more money leaving your bank account than you ever intended. And we’ve not even paused to consider subscriptions for non-physical services that you’re no longer getting value from but haven’t got around to cancelling.
All of which begs the question: when did you last review your bank statements with the sole intention of culling subscriptions you no longer want or need?
Sobering subscription statistics
We’re really bad at keeping track. In fact, one US survey found that:
- Consumers estimated that they spent an average of $86 per month. The actual average monthly spend was 2.5 times higher at $219.
- 74% said it was easy to forget about their recurring monthly subscription service charges, with 42% saying they had forgotten about at least one recurring subscription that they were still paying for but no longer using.
- Only 10% of participants said they kept track of recurring subscriptions through an app.
Meanwhile, a report from the other side of the Atlantic shows that the “European subscription market is projected to grow from $162.5 billion in 2025 to $312.8 billion by 2032.”
One driver behind the massive expected growth is, of course, our collective “willingness to pay”.
Check you’re not paying for things you don’t use
Given the statistics above, there’s a good chance you’re still shelling out for at least one subscription that you’re no longer benefiting from.
Spend 10 minutes a month reviewing what you’re subscribed to and cancel any services you’re not using or aren’t gaining enough value from.
If it’s a while since you audited your bank and credit card statements, be thorough – going back a full calendar year could mean you pinpoint any automatic annual payments that might otherwise go undetected.
Make a list of what you’re subscribed to, how much you pay for the service, and the renewal date.
Annual subscriptions often come with cancellation notice periods of 30 days, so make a note to cancel well in advance. Better still, if there’s an option to switch off auto renew make it a habit to do so when signing up.
Subscription services are big news
In the UK, Prime Minister Andy Burnham has shared his views on the subject.
Writing for the Guardian, he promised his government would “get on with the everyday fixes that make life easier and more affordable.
“There are about 155 million active subscriptions in the UK, with consumers spending an estimated £1.6 billion a year on ones they don’t actually want […] The changes we are introducing will save an average of £14 a month for every unwanted subscription.”
As part of this, from January 2027, businesses will be prevented from renewing a subscription without first notifying you and making it “as easy to leave a subscription as it is to join”.
£14 a month may not sound like much, but small sums add up. Over a year, that £168 could have been in your account accruing interest, or invested to benefit from potential long-term growth.
Read more: 5 reasons regular investing can be a great investment strategy
Some subscription services are worth it – just remember not to get carried away
Though subscriptions can erode your bank balance, that’s not to say they are all a waste of money. Some companies give you endless entertainment options for just the price of a few cups of coffee each month.
For example, the Amazon store has a whole suite of cost-effective options including Prime Video, Prime Reading, Prime Music, and more besides – it’s the fifth most valuable company in the world, with a market cap of $2.81 trillion (21 August 2026).
Following a month’s free trial, Prime costs £8.99 a month or a slightly more economical £95 a year. For students, it’s half price at £4.49 a month.
You can also subscribe to an endless number of products – though be cautious not to get too carried away as “subscribe and save” options may not always provide the savings you imagine.
Speaking of which, Paramount+ is another streaming platform worth a look.
Get seven days free and then pay about $13.99 for a no-ads experience. With shows made for your big-screen HD TV, look out for anything from Taylor Sheridan – including Landman, Yellowstone (and spin-off shows 1883, 1923, and Marshals), and The Madison.
Similarly, subscriptions to online exercise classes, food delivery services, or an audiobook library like Audible could be meaningful to you.
So, don’t axe your favourites for the sake of it; just take the time to cull your unused subscriptions and keep more money in your pocket.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
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