How To Check What Subscriptions You Have

In today’s subscription-driven world, it’s easy to lose track of where your money is going. From streaming services to software and beyond, recurring payments can quickly add up, impacting your budget without you even realizing it. Learning how to effectively manage and monitor your subscriptions is key to regaining control of your finances.

This article provides a comprehensive guide on how to identify and track your subscriptions across various platforms. By following these steps, you can gain a clear understanding of your recurring expenses and make informed decisions about which subscriptions to keep or cancel.

Identifying Your Subscriptions: A Multi-pronged Approach

The key to taking control of your subscriptions is knowing exactly what they are. Start with the most obvious place: your bank and credit card statements.

Carefully examine the last few months of statements for any recurring charges. Look for entries that are the same amount each month, or that have a similar name to a service you might recognize, such as "Netflix," "Spotify," or "Adobe."

Email Inboxes: A Gold Mine of Subscription Information

Your email inboxes are another crucial resource. Search for keywords like "subscription," "renewal," "invoice," or the names of services you suspect you might be subscribed to.

Make sure to check all of your email accounts, including older or less frequently used ones. Many subscriptions send renewal notices or payment confirmations to the email address associated with your account.

Leveraging Platform-Specific Tools

Many platforms and app stores offer built-in tools for managing subscriptions. These tools provide a centralized location to view and manage all of your active subscriptions associated with that platform.

For Apple users, go to Settings > [Your Name] > Subscriptions. Here, you can view, modify, and cancel subscriptions purchased through the App Store.

Android users can manage their subscriptions through the Google Play Store. Open the Google Play Store app, tap your profile icon, then go to Payments & subscriptions > Subscriptions.

Third-Party Subscription Management Apps

Several third-party apps are designed to help you track and manage all of your subscriptions in one place. These apps typically connect to your bank accounts and credit cards to automatically identify recurring charges.

Examples of such apps include Truebill (now Rocket Money), Clarity Money (now Marcus Insights), and Bobby. However, be cautious when granting these apps access to your financial information.

Read reviews and research the app's security and privacy policies before connecting your accounts.

Organizing and Managing Your Subscriptions

Once you've identified all of your subscriptions, create a spreadsheet or use a note-taking app to keep track of them. Include information such as the service name, subscription cost, payment frequency, renewal date, and the payment method used.

This will give you a clear overview of your subscription expenses and help you identify any subscriptions you no longer need or use.

Consider setting reminders for renewal dates. This will give you time to evaluate whether you want to continue the subscription or cancel it before the next payment is processed.

The Benefits of Proactive Subscription Management

Taking control of your subscriptions can have a significant impact on your finances. By identifying and canceling unused or unnecessary subscriptions, you can save money each month.

Regularly reviewing your subscriptions can also help you avoid auto-renewal charges for services you no longer need. According to a study by West Monroe, Americans waste an average of $348 per year on forgotten subscriptions.

Being mindful of your subscriptions promotes financial awareness and allows you to allocate your money more effectively towards your goals.

Managing your subscriptions effectively is an ongoing process. By regularly reviewing your accounts and leveraging available tools, you can stay on top of your recurring expenses and ensure that your money is being spent wisely. This proactive approach empowers you to make informed financial decisions and achieve greater financial well-being.