Are you paying for subscriptions you don't use?

September is often seen as a month for getting back into a routine. The summer holidays are over, children are back at school, and life starts to feel a little more organised again. It’s also a good time to take a fresh look at your household finances – including those regular payments that quietly leave your bank account each month.

Do you know how many subscriptions you currently pay for? Streaming services, gym memberships, apps, online newspapers, cloud storage, gaming services, software, food or drink subscriptions, and other memberships can all be convenient and useful. But how much are they costing you, and how many of them are you actually using?

One small monthly payment might not seem like much on its own. But when you have several, it can quickly add up.

For example, five subscriptions costing £5, £10, £12, £15 and £22 a month would total £64 a month – or £768 over a year. That may be money you decide you could put to a better use.

Give your subscriptions a check-up

September is a good opportunity to carry out a review of all your current subscriptions.

Start by looking through your bank and credit card statements for regular payments. You may need to go through 12 months worth, in case some subscription payments are annual rather than monthly.

Don't just think about the subscriptions you remember signing up for. Look out for free trials, introductory offers and services you may have signed up for some time ago and simply forgotten about, which have now stopped being free.

For each one, ask yourself: “Would I sign up for this today at the price I'm currently paying?”

If the answer is no, it may be time to cancel.

Also check whether the price has changed since you signed up. Some subscriptions start with a discounted introductory price before moving to the standard rate, while others may increase over time.

Don't overlook annual renewals

Monthly subscriptions are relatively easy to spot, but annual memberships and services can be much easier to forget about.

An annual payment will only appear on your bank statement once a year and sometimes there is no warning that it is about to auto-renew. By the time the money is taken, you may have forgotten that you even still had it.

Check your annual subscriptions and make a note of when they are due to renew. If you no longer want the service, don't leave cancellation until the last minute.

Be careful with “free” trials

Free trials can be a useful way of trying a service before deciding whether to pay for it.

But “free” doesn't mean there won't eventually be a charge.

Some trials automatically turn into paid subscriptions when the trial period ends. If you don't cancel in time, the first payment could come as a surprise. And if you miss the payment on your statement, you could end up paying for several months before you realise.

Before signing up, check:

• How long is the free trial?
• When will start being charged?
• How much will I pay after the trial?
• Will the subscription automatically renew?
• How often will I be charged?
• How do I cancel?
• Is there a deadline for cancelling?

Setting a reminder on your phone or calendar a few days before a trial ends, or writing it on your calendar or diary, can be a simple way to avoid an unwanted payment.

Easy to join, difficult to leave?

We’ve previously highlighted our concerns about so-called “subscription traps” and have welcomed calls for stronger action to protect consumers.

The concern is not that subscriptions themselves are a problem – they can provide good value and convenience when consumers understand what they are signing up for.

The problem arises when important information about the ongoing cost, automatic renewal or cancellation process is unclear, difficult to find or easy to overlook.

Consumers should be able to understand what they are agreeing to before they sign up, and should not face unnecessary barriers when they decide they no longer want a service.

If you find yourself having to click through several pages, navigate confusing menus or repeatedly reject offers before you can cancel, it’s worth taking a moment to make sure you have definitely completed the cancellation process.

What if you've already been charged?

If you discover that a subscription has renewed when you weren't expecting the payment, don't simply write it off.

If you’re unhappy, check the company's terms and contact the provider as soon as possible.

Explain what has happened and ask whether a refund is available. Keep copies of any emails or other communications and make sure you receive confirmation that the subscription has been cancelled.

It’s also worth remembering that stopping a payment through your bank or card provider is not necessarily the same as cancelling the subscription itself. If you no longer want the service, make sure you follow the provider's cancellation procedure.

Spend five minutes checking your subscriptions

1. Check your bank statements.
2. Identify every recurring payment.
3. Decide whether you still use each service.
4. Check renewal dates and current prices.
5. Cancel anything you no longer want and keep confirmation.