Stop subscription creep: take back control of your budget and save money

What is your Netflix subscription really costing you? Are paid TV subscriptions like Binge, Disney + and Stan causing you subscription creep? We’re here to help you audit, cancel, and automate your way to stress-free subscription management.

Your budget called: it’s time to rein in your subscriptions

Subscription creep: the silent drain on your budget. One minute you’re signing up for a “7 day free trial”, the next, you’re funding multi-billion-dollar streaming empires like Netflix, Disney+, and Binge while your bank account is quietly hemorrhaging. Maybe it’s that Audible membership you forgot to cancel, or the Xbox Game Pass renewing while your console gathers dust. Don’t worry though, you’re not the only one who forgets to cancel subscriptions before they renew. We’ve all been there.

The truth is, subscription creep is real, and it might seem harmless until you’re overwhelmed trying to figure out how many you have and which ones you’re actually using. But I come bearing good news: taking back control of your paid subscriptions is easier than you think, and it could save you hundreds (if not thousands) a year. Let’s break it down, shall we?

How do I find all of my active subscriptions like Canva or YouTube premium?

Time to put on your detective hat and audit your subscriptions. Yes, all of them. Check your credit card statements, bank statements, and PayPal account for those monthly and annual renewal charges, go back over 12 months just to be safe.

Streaming services? Check. Fitness apps? Probably. And who could forget that meditation app you downloaded to “improve your mindfulness” but haven’t opened since week one? According to NAB, Aussies are spending an average of $670 per year on subscriptions.

The scariest part? Most of us don’t know how much we are actually spending each month on subscriptions.

Step 1: Audit your paid subscriptions: track, review, and cut back on unused services

Do you find yourself googling “what show should I watch next” a little too often? In our home, we stick to a one-streaming-platform-per-month rule. Each month, we choose the service we’ll actually use and put the others on pause. It’s a simple way to save money and keeps our viewing choices intentional and stress-free.

Make a list of every subscription expense or forgotten app purchases you’re paying for. Streaming platforms like Netflix, Disney+, or Stan? Add them to a spreadsheet. Gym memberships? Yep. App subscriptions like Spotify or Canva? In they go.

Once you’ve got your list, ask yourself these questions for each:

• am I actually using this Netflix subscription?
• is this subscription something I truly enjoy or need?
• could I split the cost with family or friends, or use Family Sharing options?
• is there a cheaper or free alternative?
• is it the end of the world if i don’t have this subscription?

If the answer is “no” to most of these, it’s time to hit cancel. And remember, your true friends will still love you even if you can’t host all the platform parties at your house – prioritise just one or two that matter most to you.

Pro tip: Have your friends subscribe to one streaming service each and take turns hosting movie nights or series binge sessions. It’s budget-friendly fun for everyone!

How do I cancel or downgrade unwanted subscriptions to avoid subscription creep?

First up: Let’s clear up any misconceptions; uninstalling an app doesn’t cancel its subscription. Always make sure to cancel subscriptions directly through your account settings in the app or via your device settings.

If you’re using an Apple or Android device, both the App Store and Play Store have dedicated sections to manage your subscriptions. Simply head to your account settings and look for “Subscriptions” or “Payments.”

Some companies make cancelling subscriptions harder than leaving a family lunch. Last time I tried to cancel a streaming service, it felt like an emotional ambush: “Are you sure you want to leave us? We’ll miss you!” “Do you really want to miss these exclusive titles?” Push through those pop-ups; they’re designed to wear you down… or catch you out . But you’re in charge here!

Pro tip: Downgrade services. Spotify Free or ad-supported YouTube still let you enjoy the content you love while saving you money. Ads are a small price to pay for big savings.

Step 3: How to automate your finances and manage subscriptions with a budget

We get it; managing subscriptions can feel like a lot. That’s why we recommend trying our free Personal Budget Template to help you get started. It’s a simple and effective way to track your expenses, subscriptions, and savings goals.

Pro tip: If you’re paying for a meal planning subscription, consider swapping it out and downloading our free Healthy Meals on a Budget Guide instead. It includes 19 recipes for breakfast, snacks, and dinner, plus tips to save on your grocery shopping. You’ll also get handy shopping lists, meal prepping templates, and guides for allergies and intolerances, including FODMAP, gluten-free, and vegan options. Save money and eat well without the extra cost of subscriptions!

If you need help, MyBudget can take the hassle off your hands. We’ll automate your finances with a tailored budget plan that tracks your subscription costs, identifies unwanted subscriptions, and prevents unexpected expenses. No more forgotten charges, just a clear, easy-to-manage budget plan.

Here’s what we can do:

• identify all of your paid subscriptions
• help you decide what to keep and what to cut
• build a personalised budget so you can save for the things that matter
• pay your bills on time and prevent sneaky subscription renewal charges.

With over 25 years of experience and more than 130,000 happy Australians, we’ve got your back.

“We didn’t realise how many little expenses were creeping into our budget. Things like subscriptions we didn’t use anymore really added up. MyBudget helped us find those and cut back, which made a huge difference in our savings.”

Erin, MyBudget Client

Step 4: Set subscription renewal charge reminders in your phone’s calendar app

Subscription traps often come from those forgotten annual renewals or 7 day free trials. Set calendar reminders a few days before any renewal date or payment cycles. Try giving them a quirky name like: “Hey, Canva will take $160 on February 14 – keep or cancel you budgeting boss!” It keeps things fun while guiding you to make a conscious decision on whether to keep it or cancel it.

Step 5: Make it a financial habit: review your subscriptions regularly to avoid subscription creep

Subscriptions can add up fast, so review them every three to six months. Life changes, and so do your needs. Maybe that gym membership was worth it during your fitness era, but not so much when winter is coming!

Why managing subscriptions is key to saving money

Subscription creep is one thing, but letting your budget slip into chaos is another. By managing your subscriptions and cutting unnecessary spending, you’re putting money back where it belongs; in your savings, your dream holiday fund, or your Saturday date night budget.

And if managing it all feels too hard, MyBudget can step in and do it for you. We’ll help you live your best life free from money worries while you focus on the things that matter most (like whether you want to save for a car or a holiday… or both!)

Ready to take control and say goodbye to subscription creep?

Let MyBudget help you take control, stop losing money to wasted subscriptions, and enjoy peace of mind while achieving your financial goals. Whether it’s building a savings buffer, paying off debt, or planning for your dream holiday, we’ve got you covered. Enquire online or call 1300 300 922 today.