Monzo, the popular online bank with over 13 million customers, is urging everyone—not just its own account holders—to undertake a simple spring task that could save up to £458 per year. The bank's research indicates that while most people pay for at least one subscription each month, whether for TV, gym, cinema, shopping, flowers, or food deliveries, many in the UK are unaware of exactly what they have signed up for and are frequently caught out by unexpected monthly charges.
The Cost of Forgotten Subscriptions
Monzo surveyed 2,000 UK adults to uncover the average amount spent on subscriptions, how many people are unsure about the number they hold, and how many have faced unexpected costs. The findings reveal that the number of people with subscriptions increased by 24% between January 2025 and 2026, rising from 1.25 million to 1.54 million. The average monthly spend on subscriptions in the UK is approximately £38.18 per person, equating to a staggering £1.74 billion nationally.
Most people (20%) spend between £30 and £49 each month, 19% spend up to £75, and 4% spend even more. With the average being £38.18 per month per person, this means annually individuals could be looking at £458.16 per year on subscriptions alone.
Spring Clean Your Subscriptions
Monzo's financial experts are urging people to conduct a spring clean of their subscriptions to ensure they are in order. They recommend the following steps:
- Know exactly how much each subscription costs per month.
- Assess whether you really need the subscription, especially if you are struggling financially.
- Ensure you are only paying for each subscription once—check you haven't accidentally signed up again using a different email address, which could result in being charged twice.
- Check if your subscription price has risen, as you may no longer be able to afford it.
- If you are on a free trial and do not wish to continue, cancel before you are charged, particularly if it is set to renew at full price. In some cases, an annual fee may be taken rather than a monthly payment.
Monzo's research revealed that around one in five people across the UK do not know how many services they currently subscribe to, meaning almost £40 could be leaving their accounts each month without their knowledge. Forgetful subscribers were most common in Yorkshire and the Humber (23%), followed by the West Midlands and Greater London (22%).
One of the biggest reasons for forgotten subscriptions is free trials. Many people sign up for a 'free month' with every intention of cancelling, only to let it slip. As a result, 38% of people have been hit with an unexpected charge, equivalent to around 21 million people across the UK.
Take Control of Your Spending
Monzo emphasises that spring cleaning your subscriptions is not about cancelling everything—it is about keeping what you use and cutting what you have forgotten. Many people already do this in March, when subscription spending peaks as they switch or upgrade services.
The bank's survey suggests around 8.4 million UK adults plan to cancel at least one subscription in the next three months. Monzo advises: "If you haven't used it in the last month—or forgot you even had it—that's a clear sign it might be time to let it go. As our insights have shown, those small monthly costs add up fast over a year."
Monzo concludes by suggesting that setting money aside specifically for the subscriptions you want to keep can help you stay organised and avoid surprises when payments go out. Whether you are budgeting for a streaming service or a pet food subscription, using Pots to separate your money can be a useful tool.
With UK adults spending an average of £38 a month on subscriptions, and millions getting caught out by unexpected charges, now is the perfect time to see where your money is going. A quick review can help you stay on top of your spending, avoid surprises, and ensure your subscriptions are working for you, not against you.
