From streaming to beauty boxes to food, there are many monthly subscription services available — and recent research suggests that you may be paying for more than you realise.
In the US, more than half (54%) of consumers underestimated their monthly spending on subscriptions by at least $100, according to a survey by market research firm C+R Research. Twenty-four percent underestimated by $200 or more.
The survey included 1,000 U.S. adults and was evenly split among Gen Z, Millennial, Gen X, and Baby Boomer age ranges. It asked people to think generally about the number of subscription services they use, and in 10 seconds, estimate how much they spend per month. Later, they were given more time to individually calculate their monthly subscription costs.
Source: Fox 26 Houston
In the UK, the average consumer loses £300 every year on unwanted subscriptions. That’s why we developed ScribePay- The UK’s #1 subscription management app to pay, manage, and track free trials and recurring subscription payments.
Manage your subscriptions from one app.
Say goodbye to forgotten missed trials, missed payments and unwanted charges.
Manage your subscriptions from one app.
Say goodbye to forgotten missed trials, missed payments and unwanted charges.
How to track your monthly subscriptions
Some companies in the UK offer subscription tracking apps with the increase in monthly subscription services. Many of these apps are collecting data using open banking to offer a snapshot of how many subscriptions people pay for and how much they’re being charged per month.
Most of these apps capture subscriptions after it has occurred and when you spot them as a consumer. At ScribePay, we believe subscription management should be stress-free and managed the second you opt-in to a service using your card details.
Don’t worry if you’re not familiar with our app and instant virtual card. It is simple to use, and it will save you more money than you would expect, especially in the long run!
When you spot a subscription:
- Head to the ScribePay app.
- Tap to release the virtual card
- Copy and paste the card details into the checkout page of the subscription service interested in.
- That’s it, you can leave your worries of forgetting or being charged for an unwanted subscription to ScribePay.
Thinking of trying a new subscription service and looking for a way to manage them without drowning in the stress of remembering payment dates, free trials etc? Check out our ScribePay app which helps you track and manage all your subscription payments.
