Are Your Finances on Autopilot? It’s Time to See What You Spend Your Money On

finances on autopilot
From magazine subscriptions to gym memberships to the ever-popular Netflix, the subscription market has grown massively over the last few years and is now worth millions of dollars. These days, almost anything can be subscribed to so, whether you’re a fan of gardening or beauty products, it’s highly likely there’s a subscription-style service out there for you.

But, it might surprise you to know that, despite paying for these subscriptions, a huge proportion of us don’t actually make the most of them. In fact, a massive 67% of people who pay for gym memberships don’t actually go to the gym! Essentially throwing money away, not making the most of your subscriptions could be costing you more than you’d ever realize. So, if you’ve subscribed to many things in the past and find yourself still paying the price despite not using them anymore, it’s high time you inspected your finances and took back control over what you spend your money on.

Checking your balance

In today’s age of smartphones and technology, checking our bank accounts has become easier than ever. But it would seem that because it’s now so easy, most of us forget to regularly check our transactions which allow weekly and monthly subscriptions to slip through without us even realizing.

To counteract this, the answer is simple – check your balance every couple of days! Whilst this might seem like a lot, it will keep you constantly in-the-know of what you’re spending money on.

Do you really need these subscriptions?

If you notice a subscription pop up that you forgot about, ask yourself ‘do I really need this?’. If the answer is no (which it likely will be if it’s a subscription you didn’t even realize you were still paying for!) cancel it and stop pointlessly paying.

Continuing to unknowingly pay for subscriptions simply wastes money which, if you’re experiencing debt, is catastrophic as you could pay your debts off quicker if you simply stopped these subscription payments. Learn more about how to identify and solve any debt you may have, and it’s likely canceling unnecessary subscriptions will be a massive help.

Trim

A new app that’s specifically designed for helping people identify their long-lost subscription payments, Trim will become your new best friend if you find yourself simply too busy to remember checking your balance regularly.

Trim securely pulls both your debit and credit card data and identifies recurring subscription payments coming from your bank account. You’ll then receive a text listing every subscription that’s been found, and you simply reply with which subscriptions you want to be canceled.

Trim does all the hard work for you by both identifying and canceling unwanted subscriptions – perfect if you don’t want the hassle of doing it yourself!

Subscriptions are fun and often very worthwhile if they improve your life in some way but, if you’re not even using them yet continuing to pay for them, they aren’t quite so fun anymore! But by keeping track of your transactions and culling all unnecessary payments, you’ll be saving much more money than you’d have thought possible.

Photo: GotCredit

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