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BRITS are cancelling and renewing subscriptions as and when they need them to save cash.

We spend an average of £21.09 each month on subscriptions – that’s a total of more than £500million a year.

And research shows our subscription outlay is only going up – with the total spend rising £105m from last year.

Canny Brits have found a cunning way to control their costs on monthly subscriptions to things like streaming services and gyms however. They are signing up and then leaving as and when it suits.

Nearly two-fifths of savvy Brits are subscribing and unsubscribing to services such as Netflix and NOW TV.

The majority of people (83%) do so to save money, while two in five (40%) want to take advantage of introductory offers.

And 22% even monitor when their favourite shows are on and cancel and renew subscriptions around them.

Nearly two thirds of us feel brands are charging too much for the subscription services they provide, while more than half (52%) feel there is a lack of options and prices.

More than a quarter believe that subscriptions lack value for money due to the limited choice. A further 24% believe a more personalised service would make subscriptions worth the money.

Brits ranked lifestyle subscriptions (such as monthly delivery of beauty boxes, razor blades and contact lenses) as the worst value. However, a fifth of Brits buy into these types of services each month, costing a meaty £22.96.

Gym memberships came second on the list of the worst value for money services (35%), with Brits typically paying £34.99 per month – more than any other subscription. They were closely followed by financial services such as Experian (34%).

Meanwhile, the subscription services giving us the most bang for our bucks include TV streaming services, ranked the best value for money by nearly two thirds of people, followed by product delivery services such as Amazon Prime and ASOS Premier (48%) and magazine subscriptions (47%).

Brits are more forgetful when it comes to cancelling subscriptions.

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Three in 10 have forgotten about the service, while a similar number (28%) find the process of cancelling too hard so have left it running.

These were the subscriptions which were used least in 2018:

Gym memberships (50%). TV streaming services (20%). Music streaming services (16%). Hobby subscriptions (15%). Magazine or newspapers (14%).