A practical subscription audit checklist

Recurring subscriptions can become difficult to track when they are collected through bank cards, direct debits, app stores and bundled household services. A regular audit creates one clear view of what is being paid, who uses each service and when its price or contract may change.

Build a complete subscription list

Review several months of bank and card statements rather than relying on memory. Check Apple, Google and other app-store accounts separately, because the payment description may not show the service name clearly.

• Streaming, television and music services
• Cloud storage, software and mobile applications
• Gym, fitness and membership payments
• Delivery passes and premium shopping accounts
• News, learning and gaming subscriptions
• Services included within broadband or mobile bundles

Record the real cost and renewal terms

For each subscription, record the monthly or annual charge, payment account, renewal date, minimum term and cancellation method. Convert annual charges into a monthly equivalent so services can be compared on the same basis.

Check whether the service is being used

Look at recent account activity and ask every household member who may use the service. Low use does not automatically mean a service should be cancelled, but it should prompt a clear decision about whether the benefit still justifies the cost.

Look for duplication and bundled access

• Several services providing similar films, music or storage
• Individual memberships where a suitable household plan exists
• A separately paid service already included with another contract
• Old free trials that converted into paid subscriptions
• More storage, users or features than the household needs

Make and record each decision

Mark every subscription as keep, change, cancel or investigate. Keep cancellation confirmations and check the next statement to confirm that payments have stopped. Where a contract cannot yet be cancelled without charge, record the earliest review date.