Millions of people across the UK are planning a financial reset for 2026, with a significant focus on the silent drain of monthly subscriptions. New research has uncovered that British households are spending as much as £1,200 every year on various services, with a large portion going to waste on accounts they barely use or even forget about.
The Scale of Subscription Waste
A nationwide survey has revealed a startling picture of modern spending habits. The polling indicates that 19% of subscribers do not actively use every service they pay for. This oversight presents a clear opportunity for savings, with the potential to reclaim up to £400 annually simply by cancelling or consolidating these underused memberships.
It comes as no surprise that with the turn of the new year, 31% of Brits intend to actively review and terminate unused subscriptions in 2026, according to the study by Nationwide. The drive to get finances in order is a powerful motivator for this audit.
Why Are We Paying Twice?
A primary cause of this financial leakage is duplication within households. More than a third of people, 37%, admit to paying for duplicate accounts for the same service. Compounding this issue, 44% state they do not share any subscriptions with the people they live with.
The main offenders are popular streaming platforms like Netflix, Now TV, and Disney+. This trend reflects the complexities of modern living arrangements, including flatshares, relationship breakups, and simply differing entertainment tastes within a home.
Conscious Spending and Digital Fatigue
Interestingly, not all this spending is accidental. For some, it's a deliberate choice. 32% of those surveyed said they prefer to have their own account, valuing the independence it provides. Laura, a teacher from London, exemplifies this view, spending around £175 per month. "I wouldn't be able to get rid of my coffee or gym memberships as they're essential to me," she explained, highlighting the personal value attached to certain subscriptions.
However, there are growing signs of digital fatigue. Half of Britons (53%) are now opting to buy physical media instead, with a third finding it easier to share. This has sparked a resurgence in purchasing physical books, magazines, board games, puzzles, video games, CDs, and vinyl records.
Practical Steps to Save
Beyond outright cancellation, the research shows other popular strategies for cutting costs in 2026. These include utilising free trials (22%), switching to lower-cost service tiers (20%), and negotiating better deals directly with providers (19%).
Mark Nalder, Service, Operations & Performance Director at Nationwide, emphasised the importance of this review: "The start of a new year is a natural time to reassess spending and priorities, and for many, budgets will be tight. As we head into 2026, it's more important than ever to take stock of our outgoings."
He advises that even small changes, such as pooling resources for a family plan with housemates or cancelling forgotten memberships, can make a noticeable difference to monthly budgets and help avoid overspend. Nationwide recommends using tools like their Budget Builder app to help manage subscriptions and identify further savings.
