Do you know how much you pay for subscriptions each month? Most people dramatically underestimate it. Research shows that the average person thinks they spend around £30 a month on subscriptions — but actually pays two or three times that.
Why? Because subscriptions are designed to be forgotten. Small amounts, automatic payments, notifications that never show the running total. “It’s only £9.99 a month” — but when you have 12 of those “only”s, you’re spending over £1,400 a year.
Step 1: List All Your Subscriptions
Start with a thorough review of your bank statement and credit card statement from the last 3 months. Look for:
- Recurring payments of the same amount
- Transactions described as “subscription,” “plan,” or “membership”
- Small amounts from unfamiliar companies (often forgotten free trials that rolled into paid plans)
Categories to check:
- 🎬 Video streaming — Netflix, Disney+, Apple TV+, Prime Video, Max
- 🎵 Music & podcasts — Spotify, Tidal, Apple Music, YouTube Premium
- 🏋️ Sport & health — gym, fitness apps (Strava, Headspace, Nike Run)
- ☁️ Cloud & storage — Google One, iCloud, OneDrive, Dropbox
- 🛠️ Tools & apps — Adobe Creative Cloud, Microsoft 365, Canva Pro, Notion
- 🛒 Shopping & delivery — Amazon Prime, meal kit services
- 🎮 Gaming — PlayStation Plus, Xbox Game Pass, EA Play
- 📰 News & media — newspaper and magazine websites with paywalls
- 🍕 Food — apps with monthly subscription discounts at restaurants
Step 2: Evaluate Each Subscription
For each item, answer three questions:
1. Did I use this in the last month? If the answer is “not really” or “maybe once” — that’s a red flag.
2. How much do I actually use it? A gym membership at £50/month you visit once a fortnight? That’s £100 per visit. Would a pay-as-you-go option or simply running outside be better?
3. Is there a cheaper alternative? Two streaming services with similar catalogues? Maybe one is enough. Adobe at £50/month when you only edit photos? Perhaps a lighter plan covers everything you need.
Step 3: Create a “Keep / Cancel / Review” List
Divide your subscriptions into three groups:
Keep — you use it regularly, worth the price Cancel — you don’t use it or it’s too expensive relative to value Review — you use it, but there might be a cheaper alternative
Step 4: Cancel, Negotiate, Optimise
Cancelling
Don’t delay. Every day of hesitation is money lost. Most services let you cancel online in account settings. If you can’t find a cancel option — take note: that may be intentional friction, and it’s worth contacting customer support directly.
Note: Check how long your current paid period runs. Cancelling typically doesn’t trigger a refund — it just stops renewal at the end of the period.
Negotiating the price
Many companies offer discounts when you try to leave. Examples:
- Gyms often offer a lower “freeze” rate instead of full cancellation
- Streaming platforms may offer a monthly discount with a longer commitment
- SaaS tools (like Adobe) sometimes have retention offers for users who try to cancel
It’s always worth asking.
Optimising
- Family or student plan — many services offer significantly cheaper plans for families or students
- Annual billing — usually saves 20–30% versus monthly
- Subscription rotation — instead of paying for Netflix all year, subscribe for 2–3 months when you have something to watch, then cancel
How Much Could You Save?
Example list of typical subscriptions before and after an audit:
Before audit (£134/month):
- Netflix Standard: £18
- Disney+: £12
- Spotify: £11
- Gym: £50
- iCloud 200GB: £3
- Forgotten fitness app: £40
After audit (£32/month):
- Netflix Standard: £18
- Spotify: £11
- Google One 100GB: £3
- (Cancelled: Disney+, gym — switched to running, forgotten fitness app)
Saving: £102/month = £1,224 per year
How to Stay in Control Going Forward
A subscription audit isn’t a one-off task. Subscriptions creep up gradually — new “free trials” roll into paid plans, prices increase, services change.
Best practice: Once a quarter, review your bank statement for recurring payments. In Plutario you can tag transactions as “subscriptions” and see at a glance how much you’re spending on all your plans in total each month.
Summary
Subscriptions are one of the biggest “silent thieves” in your budget. A quarterly audit takes 30 minutes and can save hundreds of pounds a year. That money can go straight into your emergency fund, your next holiday, or paying off debt.
Start now — open your bank statement and count how many subscriptions you’re paying for. The result might surprise you.