Digital tools put nearly everything at our fingertips, from automated bill payments to infinite entertainment. We can access information, manage finances, and discover funny or inspirational content at any moment — something previous generations could only imagine. Technology enriches our lives by saving time, simplifying tasks, and enhancing everyday experiences. But convenience comes with a cost—sometimes quite literally. Subscriptions and services add up in ways we barely notice, often leading to an overwhelming number of monthly charges.
While few people choose to completely disconnect, many are adopting a more mindful approach to digital consumption. By evaluating which digital resources genuinely support your goals and eliminating unnecessary ones, you can simplify your digital life and take steps toward a more intentional, beneficial, and financially sound setup.
Recognizing Subscription Creep
You may not be familiar with the term “subscription creep,” but there’s a good chance you’ve experienced it. People tend to accumulate app subscriptions almost without noticing, thanks to free trials or sign-up promotions that make it easy to forget ongoing expenses. Monthly fees may seem small, but when spread across multiple apps and services, these charges can add up to significant amounts over a year.
According to a CNET survey, the average U.S. adult now spends $91 per month on subscription services, with about half (48%) reporting they’ve forgotten to cancel a free trial that eventually turned into a paid subscription. Nearly one-third (30%) of respondents underestimated their subscription fees by $100 to $199, and around a quarter (24%) were off by at least $200. These mismanaged payouts can be a real drain on finances, particularly for those on fixed incomes. [1]
Price hikes and hidden fees have become common, often disclosed only in emails that may land in spam folders, leading to unexpected increased spending. In some cases, people end up paying for subscriptions that are outside their budget but feel obligated to maintain them, as noted by 12% of survey respondents. [1]
A study by C+R Research highlighted how easy it is to overlook deductions, with 86% of users placing their subscriptions on autopay and 42% admitting they’ve forgotten they were being charged for services they no longer use. Reviewing app subscriptions regularly can reveal where these hidden costs may be draining your finances. [2]
Slashing Your Subscription Costs
Saving money doesn’t have to mean giving up the digital services you enjoy. Instead, it's about being strategic and using smart shopping tactics to reduce your expenses without compromising on access. Start by shopping around. Many services offer discounts if you know to ask for them, and alternatives may offer better value at a lower cost. Search for promo codes and special offers online. Consider using free resources from your local library, like Libby for audiobooks and e-books or Kanopy for streaming classic movies, indie films, and documentaries.
Next, review your existing subscriptions more closely. You might discover you’re paying for subscriptions that are bundled with seemingly unrelated services, such as streaming plans offered through mobile carriers. Some providers, like T-Mobile, Amazon, Spotify, and Instacart, offer package deals that combine multiple services at a discount. But be selective and only subscribe to those that align with your actual needs to avoid unnecessary expenses.
Switching to different plans can also yield significant savings. Family or partner plans allow you to split costs or pay a lower price per person, and ad-supported versions of streaming services can be more affordable.
Consider whether you really need access to every service every month. Pausing subscriptions periodically or rotating them—switching from Hulu to Netflix every few months—can also cut costs. Try taking advantage of deals for new subscribers by canceling and resubscribing with a different email to get another free trial or discount.
For subscriptions you use consistently, paying for annual plans rather than monthly plans can result in lower rates, equivalent to getting a month or two for free.
Managing Your Digital Subscriptions
For all the convenience we gain, it’s ironic that keeping track of digital subscriptions is so tedious. To simplify the process, you can use a subscription management app to monitor and manage all your active subscriptions.
Subscription management apps typically have a dashboard displaying all your subscriptions in one view, complete with details like billing dates and pricing. Many can automatically detect subscriptions by scanning your bank statements to identify recurring payments, helping you catch subscriptions you might have forgotten. With renewal reminders and notifications about upcoming charges, you’ll know about each payment before it happens.
One such app, Rocket Money, offers one-click cancellation. Trim by OneMain lets users cancel subscriptions by texting with a representative. PocketGuard integrates subscription tracking with budgeting. Bobby (formerly known as Billy) and Hiatus offer user-friendly interfaces for straightforward subscription management.
Take Charge of Your Digital Life
Now is the perfect time for an annual review of your digital subscriptions. Our interests and needs change over time, so it’s always worth examining which services still add value and which no longer fit into your lifestyle. Eliminating or cutting back on those that are unnecessary can significantly impact your budget and declutter your digital life, freeing up funds and time for the things that matter more.
Sources:
Russell D. Rivera, CFA, CFP®, is the Founder and President of Voice Wealth Management, an independent financial services firm serving professionals, entrepreneurs, and families in New York City and beyond. Focusing on helping clients make informed decisions about saving, investing, and financial planning, Russell is committed to providing a customized approach that reflects each client’s unique priorities and experiences.
The opinions expressed in this material are for general informational purposes only and are not intended to provide specific advice or recommendations.
This material was prepared in collaboration with Crystal Marketing Solutions, LLC, and edited using artificial intelligence, based on sources believed to be accurate. This information is for educational purposes only, does not necessarily reflect the views of the presenter or affiliates, and should not be construed as investment, tax, or legal advice.