Managing Subscriptions

Nowadays we use subscriptions for almost everything: streaming channels, clothing, make-up, fitness and wellness, food for us and our pets, and more. They are convenient and add value to our lives, but it’s also very easy to forget that you have them.

According to substack.com, the average American spends $219 per month on subscription services. That equates to around $2,628 per year!

The key to getting the most out of your subscriptions lies in managing these effectively by identifying services you don’t use (or use occasionally), consolidating plans, and using tracking tools.

Begin by listing all your subscriptions from the past three to six months, including streaming channels, fitness apps, meal kits, etc. Carefully review your bank and credit card statements to find those recurring charges that you may have forgotten about – maybe they’re left over from free trials that have automatically renewed. This will help you to see exactly where your money is going and identify those services that you are not actively using. Many people are surprised to find unused or forgotten services costing them hundreds of dollars annually.

Once you have compiled your list, cancel subscriptions that you don’t use or rarely use. Be honest! Which services provide actual value, and which are redundant? If you subscribe to multiple streaming channels, for example, think about retaining only the ones that you use most and rotate them if needed. You can also consolidate services through family plans or bundles that can reduce costs but still give you access to essential features.

Free trials are a great way to see if a product is right for you before making a long-term commitment but be sure to set a calendar reminder to cancel the service before the trial period ends to avoid unexpected charges.

Conduct monthly or quarterly reviews of your subscriptions to make sure that they still align with your budget and needs. You might discover some overlapping services, promotional offers, or pricing tiers that can save you money. And don’t be afraid to contact customer service for discounts or promotions. Being proactive can save you money.

There are apps available that can track all of your active subscriptions and let you know when you can expect upcoming charges. These tools can give you a great picture of your spending habits and make it easier to cancel unused subscriptions efficiently. 

To get the most bang for your buck, check out those credit cards that offer you perks on certain types of purchases, including subscription and streaming services. This is a way to maximize and earn points for your subscription.

Now through August 31^st, all Summit Signature and Platinum credit cardholders will receive extra points for gym memberships, utilities, gas, restaurants, travel and streaming services when they use their card*. Signature cardholders will receive 3x points in these categories and Platinum cardholders will receive 2x points. Visit any branch or summitfcu.org for all the details!

*Membership eligibility required. Subject to credit approval. Must be 18 years of age or older to apply. 6/1/26 through 8/31/26, Visa Signature®️ Credit Cards are eligible for 3X points and Visa®️ Platinum Credit Cards are eligible for 2X points. Bonus points are awarded based on purchases posted to account in the merchant categories associated with gym memberships, utilities, gas, restaurants, travel and streaming services by 8/31/26. Points rewarded will be based on net purchases (sum of eligible purchase transactions minus returns and refunds) posted to your account at the close of each billing cycle. New cardholders: For Visa®️ Platinum Card accounts opened between 6/1/26 and 8/31/26. Cardholders will receive 3,000 bonus points statement credit upon spending $1,500 in eligible purchase transactions within 90 days of account opening.