This One Hack Could Save You Hundreds a Month

In today’s world, we all know how important it is to save money. Whether you’re trying to reduce debt, build up your savings, or just have a little more breathing room in your budget, every penny counts. But what if I told you there’s one simple hack that could save you hundreds of dollars each month? No complicated budgets, no extreme lifestyle changes—just a small adjustment that could lead to big savings.

So, what’s the hack? Canceling unused subscriptions.

Sounds simple, right? But you’d be surprised at how much money people are throwing away every month by paying for things they don’t even use. Let’s break it down and see how cutting out unnecessary subscriptions can add up over time.

1. Subscription Creep Is Real

It’s easy to fall into the trap of signing up for a subscription service and then forgetting about it. We all do it—whether it’s a streaming service, an app, a magazine subscription, or even a fitness membership. You sign up for a free trial, enjoy it for a few weeks or months, and then—poof—it slips your mind. Before you know it, you’re paying for something you haven’t used in months (or even years).

Some common culprits include:

• Streaming services (Netflix, Disney+, Hulu, etc.)
• Gym memberships
• Music or podcast subscriptions (Spotify, Apple Music)
• Software and apps (photo editing, workout apps, etc.)
• Magazine and news subscriptions

2. The Average Person Is Paying More Than They Realize

According to recent studies, the average person spends over $200 per month on subscriptions—and many of them are barely touched. When you add up the costs of multiple services, that number can quickly jump to $400 or more! And the worst part? You may not even realize how much you’re spending because these charges are often auto-renewed, making them easy to overlook.

Take a moment to think about all the subscriptions you’re signed up for. How many of them are truly necessary? How many do you actually use? Most people are shocked to realize just how many services they’re paying for without ever using them.

3. The Hack: Take 15 Minutes to Audit Your Subscriptions

Here’s the hack that can save you hundreds: Take 15 minutes to do a quick subscription audit. Here’s how to do it:

• Check your bank or credit card statements: Look at the recurring charges over the last few months and highlight any subscriptions that are still active.
• Review your app subscriptions: If you have an iPhone or Android device, go into your account settings to see all active subscriptions. Most of us forget about subscriptions tied to our app stores.
• Cancel services you don’t need: For anything you haven’t used in a while or no longer find valuable, hit the cancel button. Some services make it difficult to cancel, but with a little persistence, you can save yourself the ongoing charge.

4. The Impact of Cutting Out Unnecessary Subscriptions

The savings from cutting unnecessary subscriptions can add up quickly. For example:

• Streaming Services: If you have three streaming services at $15/month each, that’s $45/month. If you cancel one, you save $15/month.
• Gym Memberships: Maybe you signed up for a gym but haven’t gone in months. A typical gym membership can cost $30-$100/month. Canceling that can save you a significant amount.
• Digital Services: A few months of paying for an app or service you forgot about can cost you anywhere from $10 to $30 per month, depending on the service. That’s an easy place to start cutting.

When you add it all up, canceling just 2-3 subscriptions could save you $50-$150 a month. If you’re paying for more than that, the savings could be even greater.

5. Redirect That Extra Cash Into Savings or Debt Repayment

Now that you’ve freed up some cash, what can you do with it? Here are some smart ways to use the money you’re saving:

• Build an emergency fund: Putting your savings into an emergency fund is a great way to prepare for the unexpected and reduce stress.
• Pay down debt: If you have credit card debt or student loans, use the extra funds to pay off your balance faster and save on interest in the long run.
• Invest for the future: Consider putting your savings into an investment account. Small contributions can add up over time, especially if you take advantage of compound interest.
• Treat yourself (responsibly): If you’ve been cutting back on spending, it might be nice to use a small portion of your savings for something that brings you joy—whether it’s a night out or a small treat.

6. Bonus Tip: Set a Reminder to Audit Your Subscriptions Regularly

One of the best ways to keep this hack working for you is to set a reminder to perform a subscription audit every few months. Life changes, and your subscription needs will evolve over time. By checking in every 3 to 6 months, you can make sure you’re not paying for things you no longer use or need.

Conclusion:

The subscription audit hack is a simple yet effective way to save hundreds of dollars every year. By taking a few minutes to review and cancel services you’re no longer using, you can free up significant cash—cash that could be better spent elsewhere. So go ahead, grab your credit card statements, and start canceling those subscriptions. Your wallet (and your future self) will thank you!