Millions of households in the UK are spending an estimated £1.6 billion a year on unwanted subscriptions, according to Government research. The study suggests there are around 9.7 million unwanted subscriptions in the country, with the average person holding roughly three active subscriptions and spending approximately £500 a year on them.
From streaming platforms and forgotten free trials to fitness apps, beauty boxes and premium memberships, small monthly payments can quietly build into a significant drain on household finances. Molly Monks, insolvency expert at Parker Walsh, says reviewing regular payments is a simple place to start for anyone looking to ease pressure on their finances.
“It’s easy to focus on the big bills when money is tight, but smaller payments can slip under the radar because they don’t feel particularly significant on their own. The problem is that several £5, £10 or £15 payments can quickly add up. If you’re already trying to manage household bills, debt repayments or rising living costs, money leaving your account every month for something you no longer use is money that could be put to better use.”
The 10-minute subscription audit
Monks recommends setting aside ten minutes to review regular payments and identify where money could be saved. The first step is to check bank statements from the last two or three months and highlight recurring payments, including those taken through PayPal, Apple, Google or other online payment services.
Next, look for subscriptions that have been forgotten, such as streaming services rarely watched, apps no longer opened, gym or fitness memberships that go unused, and free trials that have quietly become paid subscriptions. It is also worth checking for duplicate services – if you are paying for several platforms offering similar content or features, decide which ones you genuinely use and which you could live without.
Check renewal dates as well, since some subscriptions renew annually rather than monthly, making them easier to overlook. Note when the next payment is due, whether prices have increased and whether there are cancellation deadlines. Finally, cancel anything you don’t need – if you haven’t used a service in months and don’t expect to use it again, consider cancelling it. Keep confirmation emails and check your next statement to make sure payments have stopped.
How much could you save?
The Government estimates that an unwanted subscription costs consumers around £14 a month on average – approximately £170 a year. That means cancelling two unwanted subscriptions could save around £340 annually, based on that average, while three could be worth around £500 a year.
“It’s not about cutting out every little pleasure or making life miserable,” says Monks. “It’s about making sure your money is going towards things you genuinely value, rather than payments you’ve forgotten about.
“If you cancel a subscription, give yourself a plan for what to do with the money instead. You could use it to build a small emergency fund, reduce an overdraft or credit card balance, or simply give yourself more breathing room at the end of the month.
“The important thing is to look at your finances as a whole. If you’re struggling to cover essential bills or repayments, don’t assume cancelling a few subscriptions will solve everything - but it can be a useful first step in understanding where your money is going.”
New rules on the way
The Government is also introducing stronger protections designed to make unwanted subscriptions easier to escape, including clearer information, reminders and simpler cancellation processes. The changes are expected to begin in January 2027.
But households don’t need to wait for the new rules to take stock of their spending. A quick review of regular payments today could help identify money that would be better kept in the bank.
