A new study sent me straight to my banking app to see what subscriptions I pay for but I don’t use…
This study found that people often NEVER get around to canceling subscriptions, even if they had planned to originally. Only 2% of credit card users in the study would cancel a subscription, but they were far more likely if they got an email asking to update their payment information!
Consumer advocates are calling for a requirement that companies send a yearly reminder and let people cancel easily without running into obstacles or deceptive roadblocks. There IS already a law that says your cancelation process has to be easy to find and easy to cancel (which a lot of companies still don’t abide by), but I like the yearly email idea… except for the fact that I currently have over 2500 unread emails, so… I don’t know that I’d see it!
Alright, for your homework, go to your banking app… what have you not used in the last month but you’ve been charged for?
Here’s mine:
The GYM!!- I’ve been working out at home for the last few months, but I’m being charged $29/month!
Toothbrush Head Refill- Honestly I just need to skip a quarter and to be more timely about replacing it!- $10
Website Host- I have my own website that I haven’t updated in a HOT minute… $15
An online workout APP- YES, I have a gym membership and another APP that I haven’t used- $15
So that’s a total of $70 I wasted last month (and for the last several months tbh). Time to go on a cancelling spree…
