Must-Know Tips: How to Save Money on Subscriptions Now

It usually starts with one or two: a Netflix trial, a Spotify plan, maybe an app for productivity or fitness. Before you know it, subscriptions start piling up, some you forgot about, some you barely use, and a few you didn’t even realize you were paying for. According to a study cited by Business Insider, forgotten subscriptions cost consumers an average of $133 more per month than they think. That’s a major hit to your budget, hiding in plain sight.

The good news? You don’t have to cancel everything to cut costs. With a few smart strategies, you can also understand how to save money on subscriptions. This guide walks you through practical tips to manage, reduce, and optimize your subscriptions, starting with what you already have.

1. Audit Everything You're Subscribed To

Potential savings: £50–£150/month

The first step to saving money on subscriptions is knowing exactly what you're paying for. Most people underestimate how many services they’re signed up for. Between streaming platforms, fitness apps, cloud storage, music services, meal kits, digital tools, and even newsletters with paid content, it adds up fast.

Start with your bank and credit card statements. Go back at least three months and note every recurring charge. You can also use subscription tracking apps like Rocket Money, Truebill, or Bobby—they link to your accounts and highlight recurring payments automatically. Once you see it all in one place, it becomes easier to decide what’s essential and what’s draining your wallet without adding value.

Saving Tip: People often uncover 3–5 forgotten subscriptions, saving £50 to £150/month just by identifying and addressing unused services

2. Cancel What You Don’t Use (or Forgot About)

Potential savings: £20–£100/month

Once you’ve audited your subscriptions, the next step is to cancel the ones you’re not actively using. This sounds obvious, but many people forget about trials that auto-renew or hold on to subscriptions they no longer need “just in case.” Those small charges—£5 here, £10 there—can quietly stack up over time.

Start with the low-hanging fruit: free trials that turned into paid subscriptions, overlapping services (like having both Spotify and Apple Music), or tools you haven’t opened in months. Set calendar reminders for future trial end dates so you never pay unintentionally again. Subscription management tools like Rocket Money can also cancel services for you with a single click.

Saving Tip: Eliminating just 2–3 unused services can instantly free up £20 to £100/month, money that could go toward savings, debt, or everyday essentials.

3. Downgrade Your Plans or Share Accounts

Potential savings: £10–£60/month

You don’t have to cancel everything; sometimes, simply downgrading to a lower plan can significantly reduce costs while keeping the features you use. Many subscription services offer tiered pricing, and most users are on higher tiers than they really need.

If you're paying for ultra-premium streaming, cloud storage you don't fully use, or extra features on software you barely touch, switch to a basic or individual plan. You can also save more by joining family plans or sharing subscriptions with trusted friends or household members—something many platforms now allow legally.

Saving Tip: Moving from premium to basic, or splitting costs through shared plans, could help you save £10 to £60/month without losing access to the services you value most.

4. Pay Annually Instead of Monthly (When It Makes Sense)

Potential savings: £20–£100/year per subscription

If you’re confident you’ll stick with a service for the long haul, switching to an annual billing plan can be a smart way to cut costs. Many subscriptions offer 10% to 40% discounts for paying upfront. While it requires a larger one-time payment, the long-term savings can be significant, especially for tools or services you use regularly.

For example, a music streaming service might cost £9.99/month, or £99/year, saving nearly £21 annually. Just be cautious: only switch to annual plans for services you’ve already been using consistently. Otherwise, you risk locking yourself into something you might not need later.

Saving Tip: Paying yearly instead of monthly could save £20 to £100 per year per subscription, depending on the service.

5. Use Coupons or Cashback Before You Renew

Potential savings: £5–£25 per renewal

Before you renew any subscription, whether it’s streaming, software, or a fitness app, always check for discounts. Many companies offer promo codes, renewal deals, or seasonal offers, especially for annual billing or returning users. Cashback sites and browser extensions like Honey or Pouch can automatically apply savings at checkout.

You can also search coupon platforms like DiscountCodez for codes across categories like apparel, grocery, and even digital subscriptions like Amazon Prime. It only takes a minute, and can keep a few more pounds in your pocket each month.

Saving Tip: Using coupons or cashback tools before renewing can save £5 to £25 per subscription, especially on premium plans or software tools.

Conclusion: Small Cuts, Big Wins

Subscriptions are designed to be convenient, and that’s exactly why they’re easy to overlook. But what starts as a few helpful services can quickly become a hidden drain on your finances. By taking the time to review what you’re paying for, canceling what you don’t use, downgrading where possible, and applying smart savings tactics like annual billing or coupons, you can significantly reduce your monthly expenses without sacrificing the things you value most and learn how to save money on subscriptions.

It’s not about cutting everything out, it’s about making sure every subscription you keep is worth it. A few minutes of review could save you hundreds each year, putting money back where it belongs: in your control.

Frequently Asked Questions

Q. How can I quickly find out what subscriptions I'm paying for?

Check your last 2–3 months of bank and credit card statements for recurring charges. You can also use apps like Rocket Money or Truebill to track them automatically.

Q. What’s the easiest type of subscription to forget about?

Free trials that auto-renew, cloud storage, mobile apps, and newsletters with paid tiers are often overlooked. They're usually low-cost, which makes them easy to ignore until they add up.

Q, Are subscription tracker apps safe to use?

Most major apps like Truebill, Rocket Money, and Bobby use bank-level encryption. Always check for user reviews and verify app permissions before connecting accounts.

Q. How much can I actually save by auditing subscriptions?

Depending on your habits, people typically save between £50 to £150/month just by canceling unused or duplicate services.

Q. Can I really share subscriptions legally?

Yes, many services like Spotify, YouTube Premium, and some streaming platforms offer family plans or household sharing options that are designed for legal cost-sharing.

Q. Is it better to pay monthly or annually for subscriptions?

If you use the service long-term, annual billing can save you 10–40%. But if you're unsure about commitment, stick with monthly until you're certain.