How to Cut Back on Subscriptions and Save Money

Does it ever feel like you could do with an injection of cash? Do you need help finding extra money to start your investment journey? Consider switching to a different subscription service to save some money.

Here is an exercise I do every quarter. It isn’t very interesting but the first time I did this it saved me £2500 annually!

In today’s digital age, subscriptions have become a regular part of our lives, offering entertainment, convenience, and exclusive content. From streaming services like Netflix and Disney+ to fitness apps, meal kits, cloud storage, and software tools, signing up for new services with just a click is easy. However, these seemingly small subscriptions can quickly add up and deplete your finances without realising it.

You can take strategic steps to take control and reduce unnecessary expenses. This guide will show you how I identify, evaluate, and cut back on your subscription costs, potentially saving you thousands each year.

Step 1: Track Down All Your Subscriptions

The first step in managing your subscriptions is to identify them accurately.

Subscriptions can be easily overlooked due to the seamless payment process, where charges are automatically deducted from your account.