Money Talk
Consumer expert Sue Hayward’s savvy finance tips and advice
Sue’s Guide To Getting savvy with your subscriptions
Free trials and discount deals can tempt us into signing up for new subscriptions and ser vices, but can cost you more in the long run if you don’t use the service or forget to cancel when the freebies and deals run out.
Cashback site TopCashback say we’ve typically got seven subscriptions on the go, ranging from Netflix and gym memberships to snack boxes by post with most of us signing up to at least one new one over the last year.
So how can you get savvy with subscriptions? Here are my top tips to save you money…
Signing up for the first time? Stick a reminder of the subscription end date in your phone or diary. This is especially important if you only want to take advantage of the free trial or discount offer.
Check your bank statement and try to cancel any you don’t use. If you signed up on a rolling subscription basis you may only need to give a month’s notice.
Check the website for details on how to cancel. You may be able to email, while other companies can make it harder, insisting you call up. And while you’re pulling the plug, make sure you cancel your direct debit with your bank too.
Do you still like the service but not the price? Then call up and tr y to negotiate a better deal. Ask to leave and most companies will dig deep with further discounts to try to persuade you to stay.
SUE’S TIPS:
◆ We typically take six months to cancel unused subscriptions, wasting £105 according to TopCashback.
◆ Watch out if you’re signed up for continuous payment authority, meaning that your subscription carries on forever unless you cancel.
◆ When cancelling, check you’re outside any minimum contract term. If you’ve had problems you may be able to cancel sooner.