Checking all of your regular expenses is an important part of keeping your finances healthy. Too often people sign up for a monthly subscription to a gym membership, subscription box, or premium membership and then stop using it. Without regularly tracking what you're spending money on, you can easily end up spending hundreds of dollars a month on things you no longer use.
What is a subscription audit?
A subscription check refers to the process of going through all your monthly subscriptions. Sometimes the hardest part of a subscription review is figuring out what all the different monthly subscriptions even are. Once you have a list of your monthly subscriptions and how much they cost each month, you can decide which ones still give you value. Finally, you can cancel any that you no longer use.
Using Mint's automatic subscription tracking
It can be difficult to even figure out what all your monthly subscriptions are. That's where Mint's automatic subscription tracking service enters As long as you have connected the debit or credit card you use to pay for your subscription to Mint, the automatic subscription tracker will keep track of it. You can see all your subscriptions in one place, giving you more control over your spending. And if the prices change, you will automatically receive a notification – then you can decide whether the higher price is still worthwhile for you.
Also check your other recurring bills
While doing your subscription check, you want to do this Check your other recurring bills such as. You might not think of things like insurance, cell phones, or utilities as subscriptions, but anything you pay for on a regular basis can be considered a subscription. And while you may never cancel your internet or cell phone bill, it's still a good idea to review this type of recurring expense regularly.
How you review your recurring bills depends on what type of bill or recurring payment it is. In some cases, your only choice is to cancel or not. For utilities or insurance, you may be able to choose a different provider or renegotiate your bill.
If renegotiating your bill sounds like too much work, you're in luck, the Mint app has a new bill negotiation feature with BillShark. They negotiate for you and if they don't save you money, you don't give them anything.
Being aware of all of your finances can help keep your expenses low and put you on the path to a solid financial footing.
Sign up with Mint today
From budgets and bills to free credit scores and more, you will
Discover the effortless way to stay organized.
Learn more about security
Dan Miller (93 posts)
Dan Miller is a freelance writer and founder of PointsWithACrew.com, a website that helps families travel for free/cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 children.