What the Tech: How to cancel subscriptions you no longer want
By JAMIE TUCKER Consumer Technology Reporter
Years ago it was easier keeping track of subscriptions. Cable TV, newspapers, and magazines were about the only thing with recurring monthly payments.
That isn’t true today. Nearly everything requires a subscription. And it’s hard to keep track.
It’s surprisingly easy to lose track of where your money goes with today’s subscription-based world. Streaming services, apps, productivity tools – the list is endless. A recent survey revealed the average American spends over $270 monthly on subscriptions, and some of those are completely forgotten.
Let’s dive into this “subscription overload” and why it’s crucial to review your monthly spending.
Remember when you bought an app once and owned it? Now, most are subscription-based, and those $5-$8 monthly charges add up quickly. The problem? You won’t cancel what you don’t know you’re paying for. We all know the big names like Netflix, Hulu, and Spotify, but what about those less obvious ones lurking in the background?
Many apps lure you in with a free 3 or 7-day trial. If you forget to cancel, your credit card might be charged $15 or more, sometimes weekly! These silent money killers can drain your finances without you even realizing it. That viral photo app that everyone was using on social media a few weeks ago? You may agreed to a 7-day free trial and didn’t realize it was charging $10 a week once the trial ended.
Here’s how to find and manage your subscriptions:
● Check Your Device Settings: On an iPhone, go to your profile and check subscriptions. On Android, go to the Play Store and tap subscriptions. You can unsubscribe with a tap.
● The Free Trial Trick: Sign up for a free trial, then immediately cancel in the subscription settings. You’ll still have access until the trial ends.
● Search Your Email: Look for terms like “subscription,” “account,” or “username.”
● Review Credit Card Statements: Scrutinize your statements for unknown charges.
● Eliminate Redundancy: Are you paying for multiple cloud storage services like Google, iCloud, and Dropbox? Choose one and save money.
● Look for Bundles: Apple, Google, and Amazon offer savings on their video and streaming music plans if you put them together.
FTC Regulations and Help
The FTC recently mandated that companies make unsubscribing just as easy as subscribing. This is a step in the right direction. There are also apps that track and cancel subscriptions for you, though they often require their own subscription.
Take a few minutes to review your subscriptions. You might be surprised by how much you can save.
