The July Subscription Audit: Cutting the Fat Before Back-to-School
Summer is flying by, and before we know it, the "Back-to-School" rush will be here. While many of us are already hunting for tax-free shopping deals to save on supplies, there’s another way to find "hidden" money in your budget: a mid-year subscription audit.
How to Identify Your Subscriptions
The first step is seeing where the money is going. Don't rely on memory alone.
- Check Bank Statements: Scan the last three months of credit card and bank statements.
- Use Tracking Apps: Tools like Rocket Money or Bobby can automatically flag recurring charges you might have forgotten.
- Check App Stores: Go to your iPhone or Android settings to see active subscriptions billed through your phone.
What to Evaluate
Take a hard look at your streaming services, meal kits, fitness apps, and monthly mystery boxes. For each one, ask yourself:
- Have I used this in the last 30 days? If the answer is no, it’s time to let it go.
- Is there a free alternative? Many paid news or entertainment apps have free versions that are just as effective.
- Can I share? Many services offer family plans that are significantly cheaper than individual ones.
Negotiate or Pause
If you aren't ready to part ways, try "pausing" the membership. Most services offer a one-to-three-month pause option. Also, don't be afraid to click "cancel": many companies will instantly offer a 50% discount for three months just to keep you.
The Goal: Trimming just two or three unused services can save you $50–$100 per month. That’s extra cash for school clothes or a treat from the Brownstone Marketplace.
Let’s get those budgets lean and ready for fall, neighbors!
Sources: Rocket Money, Bobby App.
