How to Track Subscriptions and Find Hidden Savings
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BY Sarah
About the Author
Sarah is a shopping and savings expert who researches brands, verifies deals, and creates practical buying guides. Her goal is to help readers make informed purchasing decisions while finding genuine discounts and offers.
Subscription services can make a big difference to your day, but those small costs can add up. Streaming websites, software, fitness, cloud-storage, learning, virtual private networks (VPNs) and other subscriptions may seem cheap, but it is easy to lose track of them. Subscription tracking makes it easy to see what you are paying for, and find ways to cut costs. Subscription tracking can make it easier to see the costs of recurring payments, can help identify subscriptions that are no longer needed and is simple to do. If you're not sure where to look, our guide onwhere to find discount codes and coupons that actually work explains some practical ways to find current offers before making a purchase. .For instance, you can do it regardless of how few or many subscriptions you have, whether you have a couple or multiple subscriptions across different accounts, a regular subscription audit can help you keep track of things.
What is subscription tracking?
Subscription tracking is keeping a record of your recurring memberships, apps, software, services and any other payments.
Instead of trying to remember what you pay for, you can record details such as:
Subscription name.
Cost.
Billing cycle.
Renewal date.
Payment method.
Purpose.
If the subscription is worth keeping.
With this information, it is easy to see what you spend on each month. An example is two cloud-storage subscriptions or multiple entertainment subscriptions, it makes it easier to see these subscriptions and see if they are necessary to spend money on.You can track subscriptions with a spreadsheet, a budgeting app, a notes app, bank statements or a subscription-management service.
Why subscription tracking saves you money.
Oftentimes, you might miss seeing recurring payments. A single $10 or $15 payment per month may not seem like much, but having several subscriptions which you no longer use can add up to a sizeable expense over a year.
Tracking subscriptions can help you
Cancel subscriptions that you no longer use.
Avoid paying for duplicate services.
Spot price hikes.
Identify when your free trial is due to end.
Review yearly renewals.
Compare monthly to yearly subscriptions.
See what subscriptions are worth continuing.
For example, cancelling a $12 monthly subscription saves $144 over a year. And if you see three similar subscriptions, the yearly difference is much more noticeable.
The aim is not to cancel everything, but to help ensure that your recurring payments match up to what you need and want.
How to keep a record of your subscriptions
The easiest way to start subscription tracking is to create a subscription list.
A spreadsheet is a good place to start, and you can create columns for the subscription, cost, renewal date, billing cycle, payment method and if you will keep or cancel the subscription.
For example:
Subscription Cost Billing Cycle Renewal Date Payment Method Keep or Cancel
Streaming service $15/month Monthly 12 October Card Keep
Cloud storage $120/year Annual 5 November Card Review
Learning platform $20/month Monthly 20 October PayPal Cancel
VPN service $60/year Annual 2 December Card Keep
Check your bank, card and direct-debit statements for recurring payments you may have forgotten about. Search through your email for subscription, renewal, membership, billing, receipt and similar terms.
It is also a good idea to check subscriptions purchased through your app store as they may not appear in the same place as subscriptions purchased directly from a service's website.
Once you have created your subscription list, you should review it every few months.
Understand what you are paying for before you subscribe
Before you subscribe to a service, take a look at the costs beyond the sign-up price.
Look at:
Whether the price is promotional or standard.
How long the promotional period lasts.
Whether the plan renews automatically.
What happens after a free trial period.
Whether taxes or other fees apply.
What features are included.
Whether the subscription can be cancelled at any time.
Whether a cheaper plan will suffice for your needs.
A promotional price seems low, but the standard price may be considerably higher. A little research before hitting 'Subscribe' or 'Buy' can save you from higher costs later on.
Go for multi-purpose apps instead of multiple subscriptions
Some subscriptions can be combined. You may be paying for one subscription for each service when a single service can do the trick.
For example, one subscription which does several of the things you need, rather than maintaining several subscriptions. This does not always mean the most expensive plan is a good value for money; it depends on the features you use and you should compare the yearly cost for each subscription.
Ask yourself if I am paying for features I rarely use? If the answer is yes, the simplest subscription may be a better value for money than one with lots of extras you rarely utilise.
Cut overlapping subscriptions
One of the easiest areas to review during your subscription audit is overlapping subscriptions.
You may find you have several subscriptions which serve a similar function, such as:
Streaming services.
Cloud-storage subscriptions.
Productivity subscriptions.
Music subscriptions.
Fitness subscriptions.
Security subscriptions.
Online learning subscriptions
Photo and video subscriptions.
You do not necessarily have to cancel every overlapping subscription, but you should consider which subscription you use more often and which subscription has more features.You can also review ourHow to Save Money Shopping Online guide for more tips on cutting down your everyday online spending. When shopping for other products, checking pages such asKicksCrew discount codes can also help you compare available offers before buying.
If you know you will be using a service for a year, look at the cost of an annual subscription.
Another option is to rotate between subscriptions. For example, instead of maintaining several entertainment subscriptions throughout the year, you can use one subscription for several months, cancel it and use another subscription if you want to watch or listen to something specific.
Look out for annual plans and bundle discounts
If you know you will be using a service for a year, look at the cost of an annual subscription.
For example, a subscription which costs $15 per month will cost.
$15 × 12 = $180
for a year, but a subscription which costs $150, you would save $30 if you pay for the year.
However, an annual subscription is only a good value for money if you know you will continue to use it.
Paying $180 for asubscription which you stop using after two months is not a good investment.
Bundles can help get the subscriptions you need for a cheaper price if it contains everything you need. Always consider the cost of a bundle against the subscriptions you currently utilise, and ensure the bundle will not include products you do not need to justify the cost.
Best tools to help you track subscriptions
There is no need for a complicated software to help you track subscriptions. The best subscription-tracking method will depend on how many subscriptions you have, and how much you want to invest in keeping track of your subscriptions.
Spreadsheet
A spreadsheet is simple to use and set up. You can create columns for the subscription, cost, billing cycle, renewal date and keep/cancel. It is a good option if you want full control over your subscription list.
Bank and card statements
Your bank and card statements can show you recurring payments you may have forgotten about.
It is a good idea to review payments from the last three to six months, rather than just the latest statements, as some subscriptions are billed monthly, quarterly or annually.
Some budgeting apps can help you keep track of your subscriptions and other expenses. Some budgeting apps can help sort regular payments or categories your expenses.
Always look at the subscription-tracking service's privacy policy, fees and security features, as well as how it accesses your account before using a budgeting app.
Calendar reminders
A simple reminder to yourself on a calendar can help you remember when annual subscriptions renew and free trials are due to end.
For example, if your annual subscription renews on 15 December, you can set a reminder two or three months in advance so you have enough time to decide whether to continue with the subscription before another payment is taken.
How to save on the subscriptions you keep
After you have completed your subscription audit, look to see if you can get the subscriptions you keep cheaper.
Compare available discounts
Before you renew or purchase a subscription, look at any available discounts.
For instance, you can check NordVPN discount codes to learn about the ongoing discounts before you subscribe to the virtual private network service.If you're reviewing app-based subscriptions, you can also check currentKic discount offers before starting or renewing a plan.
Similarly, look through the Norton discount codes and Udemy discount codes for any available discounts on your security and online learning subscriptions. Offers are subject to change, so ensure to check their expiry date, applicable products and renewal terms before you use a discount code.
Review your plan
Review Whether a Cheaper Plan Still Meets Your Subscription Needs
You may find that you are paying for a feature you rarely use and can move to a cheaper subscription tier to reduce your spending.
Use a free alternative where appropriate
Some subscriptions have a free version which can meet your needs.
Before you pay for a subscription check whether a free alternative will suffice for your needs. However, always check the terms carefully, particularly if you rely on the subscription for work, study, security or important files.
Look out for seasonal promotions
Some companies offer promotions around major holidays and during major shopping events, such as
If your subscription is flexible and you know it is due to expire soon, compare the promotional offers with the current price to see whether you can save money.
You can also review our How to Save Money Shopping Online guide for more tips on cutting down your everyday online spending.
Check before automatic renewal
Automatic renewal is a convenient option, but be aware that subscriptions can still renew if you forget to cancel them.
Before your subscription renews for the year or month, ask:
Do I still need this subscription?
Has the price changed?
Is there a cheaper subscription option?
Is another subscription a better choice for me?
Can I get a current promotional offer?
Do I really need this subscription?
A quick review can help you save money by avoiding payments for subscriptions you no longer need.
A simple subscription audit you can do today
If you want to get started tracking subscriptions, set aside 20-30 minutes for a subscription audit. Here is a simple subscription audit you can try today:
Step 1: Review your bank statements
Look for any repeating payments that have taken place within the past three to six months.
Step 2: Make sure there are no subscriptions on your app-store
Do I really need this subscription?
With a little research, you can save a nice chunk of change by getting rid of subscriptions that are unnecessary
Step 3: Search your email
Look for subscriptions, renewals, receipts, membership and free-trial emails.
Step 4: Create a list
Write down the cost, billing cycle, renewal date plus the purpose for each subscription.
Step 5: Divide subscriptions into three groups
Divide subscriptions into keep, review and cancel.
Step 6: Look for cheaper options
Check if there are cheaper subscription tiers, annual subscriptions, bundles and promotional offers.
Step 7: Set reminders
Set reminders for renewal dates so you can review subscriptions before next year's subscription costs come out.
The subscription audit does not need to be complicated. The most important thing is to keep subscription reviews as a regular task.
Common subscription mistakes to avoid
Despite keeping track of your subscriptions, there are a few common subscription mistakes to stay away from:
Forgetting free trials
Free trials require you to enter a payment method and can renew automatically. Set a reminder a few days before your free trial is set to end, if you do not intend to continue with the subscription.
Paying for duplicated services
Check that you do not already have a service which does what you want before you subscribe to another service.
Ignoring price hikes
The subscription you have subscribed to could be a lot expensive. Always check subscription-renewal notices and account pricing to be aware of the price changes.
Cancelling without checking the renewal date
If you want to cancel a subscription check the cancellation terms and renewal date of the service. It ensures you understand when you will be charged again.
Buying annual plans without comparing alternatives
While billing annually can reduce the cost per month, it is a good idea to ensure you really need and will utilise the subscription for 12 months before paying for the year in advance.
Subscription tracking is a list of the recurring payments that one has subscribed to. For each subscription, one has to note their name, price, billing interval, renewal day, payment method, and value for money.
One can find forgotten subscriptions by carefully scanning one’s bank, card, and direct debit statements in search of unknown charges. Most subscriptions renew every quarter or year and only appear on the statements after approximately 3-6 months. In addition, one can look through their email for messages sent from subscription services with subjects or body text containing subscription, renewal, membership, billing, receipt, etc. Furthermore, one should also scan one’s account in the App Store because one may have unknowingly subscribed through another company’s website.
Often, yes, but not always. A $15 monthly plan costs $180 over 12 months ($15 × 12 = $180). If the annual plan costs $150, you would save $30 by paying for the year upfront. However, an annual plan only makes sense if you are confident, you will keep using the service. Paying for a full year of something you stop using after two months is not a saving, so compare the yearly cost with how much you will actually use it before you commit.
Note that your draft said annual plans are "typically not cheaper." The source material doesn't say that. It says annual billing can reduce the monthly cost, but only pays off if you keep using the service, so I wrote the answer to match.
One should track one’s subscriptions at least a couple of times every year. However, it is always better to do it more frequently and certainly before any automatic renewal occurs. When doing subscription tracking, it is essential to assess whether one is still interested in a particular product/service and if its price is still acceptable. One should also look out for special offers for subscription services that one wants to renew.
