Britons are wasting up to £1,200 a year on subscription services, with many paying for unused memberships, according to a survey by Nationwide. The research found that 19% of subscribers do not use every platform they pay for, potentially saving up to £400 annually by cancelling or merging them.
As the new year begins, 31% of people plan to review and cancel unused services. Mark Nalder of Nationwide said the start of the year is a natural time to reassess spending. Experts recommend auditing bank statements to list all subscriptions, noting last use and cost, to identify forgotten memberships.
Rebecca Bebbington of NetVoucherCodes suggests making a full list of regular payments and marking renewal dates. She advises 'leapfrogging' between streaming services—sticking with one at a time, cancelling after watching desired content, then moving to the next.
Consumers can also look for free subscriptions bundled with other products, such as Disney+ with Club Lloyds bank accounts or Deliveroo Plus with Amazon Prime. Threatening to cancel may secure cheaper rates, especially near the end of a discount period. Family plans, like Spotify Premium Family at £21.99 for six members, offer savings over individual plans.
New consumer protections later this year will require companies to remind customers about their subscriptions and how to cancel them. Katrina Anderson, a lawyer at Mills & Reeve, said this aims to help people decide if they want to keep or cancel services.
