Subscription Audit
Definition
A systematic review of all recurring subscriptions and memberships to identify forgotten, unused, or redundant services that are quietly draining money each month.
A subscription audit involves listing every recurring charge across your accounts and evaluating whether each provides enough value to justify its cost. The average American spends $219/month on subscriptions but underestimates their spending by 2-3x, according to research from C+R Research.
The proliferation of subscription services means most people have accumulated charges they've forgotten about. Streaming services, apps, gym memberships, software tools, news subscriptions, meal kits, beauty boxes — each seems small ($5-$15/month), but they compound. Ten forgotten $10/month subscriptions cost $1,200/year.
To conduct an audit: review 3-6 months of bank and credit card statements for recurring charges, check app store subscriptions (iOS Settings > Apple ID > Subscriptions, Google Play > Subscriptions), catalog every subscription, and categorize each as essential, used regularly, occasionally used, or unused.
Cancel unused subscriptions immediately and consider downgrading "occasionally used" ones. For services you want to keep, check if annual billing is cheaper than monthly (often 15-25% savings). Some services offer retention discounts if you attempt to cancel — it's worth trying before committing to full price.
Making subscription audits a quarterly habit prevents re-accumulation. Set a calendar reminder every three months. Many banking apps now flag subscription charges and alert you to price increases, making ongoing monitoring easier. The goal isn't eliminating all subscriptions — it's ensuring each one earns its place in your budget.
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Related Terms
Frequently Asked Questions
How much can a subscription audit save?
Most people save $50-$200/month from their first audit — $600-$2,400/year. The savings come from forgotten subscriptions, duplicated services (multiple streaming platforms with overlapping content), and downgrading plans you've outgrown. Annual savings invested over 20 years at 8% could grow to $30,000-$120,000.
How often should I audit subscriptions?
Quarterly is ideal. New subscriptions accumulate faster than most people realize, and free trials that auto-convert are easy to miss. Set a recurring calendar reminder. Between audits, review new subscription charges within a week of signing up to decide if the service is worth keeping.