Have you ever looked at your bank statement and wondered, “What is that charge?” If you’re like most of us, the answer is probably yes. Streaming services, free trials that quietly became paid subscriptions, phone apps, memberships and monthly deliveries have a way of sneaking into our budgets and sticking around long after we stop using them.
Every now and then, I do what I call a subscription checkup. It takes about 15 minutes, costs nothing and can save more than you might expect.
Start by looking through the last two or three months of your bank or credit card statements. Highlight every recurring payment. Then ask yourself one simple question: Would I sign up for this again today? If the answer is no, it’s probably time to let it go.
Not sure where to look? If you have an iPhone or iPad, open Settings, tap your name and then Subscriptions to see services billed through your Apple account. Android users can open the Google Play Store, tap their profile picture and select Payments & subscriptions. Also check Amazon for recurring “Subscribe & Save” orders and memberships, and review PayPal for automatic payments that may not appear obvious elsewhere. Finally, compare those lists with your bank and credit card statements to catch anything billed directly.
Those small charges add up. A $9.99 monthly subscription doesn’t seem like much until you realize it costs nearly $120 a year. A few forgotten services could easily add up to enough for a weekend getaway, holiday shopping or a nice dinner out.
Free trials deserve special attention because companies count on us forgetting to cancel before the first payment is due. Set a reminder on your phone a few days before the trial ends, and you’ll stay in control instead of being surprised.
Don’t stop with streaming services. Check gym memberships, cloud storage, antivirus software, meal kits, magazines, music services and other apps you rarely use. If you haven’t opened it in months, ask yourself whether it’s still worth paying for.
The goal isn’t to stop spending on things you enjoy. It’s to make sure every dollar is paying for something you actually use and value. A few minutes of financial housekeeping today can put a little extra money back in your pocket tomorrow. That’s an Everyday Genius habit worth keeping all year long.
Everyday Genius will provide little tricks every week. Big wins.
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