Britons Waste £400 a Year on Unused Subscriptions: How to Make a Difference in 2024
Millions of households are unknowingly being drained of hundreds of pounds each year due to unused or duplicate subscription services. A new survey by Nationwide has found that nearly two decades of subscriptions are going to waste, with Britons spending an estimated £1,200 annually on platforms they no longer use.
According to the research, a staggering 19% of subscribers do not utilize every platform they pay for, leaving them vulnerable to recurring charges and financial overspending. With many households facing financial strain after Christmas, the survey suggests that a review of subscription services is long overdue.
Managing regular outgoings is crucial in avoiding overspend, and experts recommend starting with an audit of your spending on apps and services. By collating payments for TV, delivery, media, and product subscriptions on a spreadsheet, you can identify forgotten or unused accounts and make informed decisions about which to cancel or merge.
"Start by making a full list of everything you pay for regularly," advises Rebecca Bebbington, a personal finance expert at NetVoucherCodes. "Note down which services you actually use and mark down the renewal dates." Armed with this information, you can weigh up the value of your most-used subscriptions against those that are no longer essential.
One strategy is to "leapfrog" – instead of juggling multiple streaming subscriptions, stick with one at a time and plan how you watch, enjoy, cancel, and then move on to the next. You may also be entitled to some subscriptions for free alongside other products or services, such as a Disney+ membership with a Club Lloyds bank account.
New consumer protections set to come into effect later this year will require companies to contact people about their subscriptions and how to cancel them. Meanwhile, experts warn that those who threaten to cancel might be offered cheaper rates if they approach the company towards the end of a discounted period.
By taking control of your subscription services in 2024, you could save hundreds of pounds per year and make a significant impact on your finances.
Millions of households are unknowingly being drained of hundreds of pounds each year due to unused or duplicate subscription services. A new survey by Nationwide has found that nearly two decades of subscriptions are going to waste, with Britons spending an estimated £1,200 annually on platforms they no longer use.
According to the research, a staggering 19% of subscribers do not utilize every platform they pay for, leaving them vulnerable to recurring charges and financial overspending. With many households facing financial strain after Christmas, the survey suggests that a review of subscription services is long overdue.
Managing regular outgoings is crucial in avoiding overspend, and experts recommend starting with an audit of your spending on apps and services. By collating payments for TV, delivery, media, and product subscriptions on a spreadsheet, you can identify forgotten or unused accounts and make informed decisions about which to cancel or merge.
"Start by making a full list of everything you pay for regularly," advises Rebecca Bebbington, a personal finance expert at NetVoucherCodes. "Note down which services you actually use and mark down the renewal dates." Armed with this information, you can weigh up the value of your most-used subscriptions against those that are no longer essential.
One strategy is to "leapfrog" – instead of juggling multiple streaming subscriptions, stick with one at a time and plan how you watch, enjoy, cancel, and then move on to the next. You may also be entitled to some subscriptions for free alongside other products or services, such as a Disney+ membership with a Club Lloyds bank account.
New consumer protections set to come into effect later this year will require companies to contact people about their subscriptions and how to cancel them. Meanwhile, experts warn that those who threaten to cancel might be offered cheaper rates if they approach the company towards the end of a discounted period.
By taking control of your subscription services in 2024, you could save hundreds of pounds per year and make a significant impact on your finances.
! I mean, can you believe how much money we're wasting? £400 a year is no joke, fam 
! But on the bright side, I guess it's like an excuse to tidy up our digital lives and cancel those ones we don't use anymore 
. And hey, maybe this is the push we need to make some changes and get more organized in 2024? Who knows, we might even save some cash while doing it 
I think it's so cool that there's this whole new wave of people starting to take control of their finances and cut down on those unnecessary subscriptions! It's like, finally breaking free from the cycle of overspending 
Plus, it's all about being more mindful and intentional with your spending - like, what are you really getting out of that subscription? 
The whole "leapfrog" strategy is genius, btw! 
And I love that there's new consumer protections coming in to help people cancel those subscriptions without feeling pressured or ripped off. It's all about being empowered and making smart financial choices 
I mean, I've got my Netflix and Spotify, that's it for me. I don't need all those extra ones for like, what's the point? And yeah, I can see how people get caught up in them, but honestly, it's just a waste of cash. I'm gonna start doing an audit on mine ASAP, so I can cut out any dead weight. It's time to take control of my finances and not let all those extra charges drain me dry 
starting an audit of our spending is a great idea, anyone else doing that? 
. We packed up our old van (which we lovingly call "Bertha") and hit the road for 3 days of beachy vibes, hiking, and trying out some new BBQ recipes 
. It was so chill and rejuvenating! Anyway, back to subs... I guess it's crazy that people waste so much cash on services they don't even use 
.
You know what's wild? We spend so much time chasing stuff we'll never use again 
? It's crazy how our minds can get tricked into thinking we need something just because we have it 
), you can make some serious changes and free up that extra £400 to invest in something that truly matters to you 
.
. I mean, who doesn't love Netflix and Disney+, but like... not all at once, right? 
so yeah just do a spreadsheet like they say and cancel everything u dont use lol easy peasy 
. anyway, i think this is a great opportunity for us to take control of our finances and be more mindful about what we're spending our money on 
£400 a year on unused subs? That's like having an extra £20 in your pocket each month just because you haven't cancelled that one streaming service from 2018. Get real, people! 
i feel like im guilty too cuz my sister still has like 5 old phone subscriptions from like 2018 lol what can u do when the company just keeps sending u renewal emails every month? 
u think its bad now but maybe its even worse for ppl who are living off less 
. It's all about taking a closer look at our spending and making some changes. Maybe it's time to cancel those gym memberships you only go to once a year 
or those magazine subscriptions that just get left on the counter 
. The key is to keep track of everything, mark down when things expire, and be like "is this really worth it?" 
Can we please just have one or two that we actually watch regularly? And yeah, I'm guilty of having some duplicates, idk how to cancel them without losing access to my fave shows 
. it's not that hard to take a few minutes each year to review your subscriptions and cancel the ones you don't need 
. and if you're one of those people who have forgotten they even signed up for something, well... now you know 
!