Forgotten subscriptions can eat away at your budget
Typical consumer spends $52.97 on subscriptions each month
(InvestigateTV) — Most Americans have at least once paid subscription service that they no longer use, costing them an average of over $25 each month, according to a Self survey.
It’s easy to see why since the subscription services are becoming ubiquitous, reaching beyond streaming services, beauty boxes, and meal delivery and into education, the auto industry and even air travel.
Cherry Dale, a financial coach with the Virginia Credit Union, suggested that every consumer pull out their credit card statements to keep tabs on their re-occurring charges and subscriptions.
“I even realized the other day that we had two,” Dale shared. “My husband had an Amazon Prime , and I had an Amazon Prime. We do not need two Amazon Prime s.”
Dale said look at all the credit card statements. Talk to family . If there’s a service not being used, cancel it.
She said little amounts add up quickly. And consumers could be paying duplicates and not even know it.
The AARP has a free online resource for how to manage and avoid unwanted subscriptions.
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