Looking to Cancel Subscriptions But Don’t Know Where to Start?

With all the various types of subscriptions available today, managing them all can be quite a task. From music services and TV streaming options to online storage and even clothing memberships, it is often quite simple to sign up, but easy to forget what subscriptions you're paying for or when those "free" trial memberships expire. 

Not only is managing subscriptions very time-consuming, but you can save money by ridding yourself of those unwanted and often costly subscriptions and spending your money on something you want or need instead.

Here are some tips to help you identify, manage, and cancel subscriptions you no longer want or need to help you save money. 

3 Steps to Identify and Cancel Subscriptions.

1. Identify Your Subscriptions

• Review Statements and Online Platforms – To cancel subscriptions, you must first identify those that you have signed up for by searching bank statements, credit card bills, and online payment platforms to identify recurring charges.
• Check Your Email – Since many subscriptions are managed online, be sure to check your email inbox and spam folders for subscription-related emails or renewal notifications - a great way to help identify your subscriptions for cancelation.
• Compile a List – Use bank statements and online platforms to locate your subscriptions and make a list of those you no longer use or wish to cancel.

2. Locate Cancelation Information

• Visit the Website – To effectively cancel your unwanted subscriptions, visit the website or app associated with each subscription.
• Manage Subscription – Once you have located the website or app, look for a "Subscription Management" or "Account Settings" section. Here is where you will find the information needed to change your subscription status.
• Find Cancelation Info – Each subscription has its unique cancelation policy with specific procedures to cancel subscriptions. Once you find these options, you'll be ready to manage your subscription with the company effectively.

3. Choose a Cancelation Method

• Online Cancelation – This is the easiest and most convenient way to cancel subscriptions you no longer need. Begin by logging in to your account on the subscription service's website or app.
• Locate the Subscription Management Settings – Once logged into your account, navigate to the "Account Settings" or "Subscription Management" section.
• Time to Cancel – Find the "Cancel Subscriptions" section on the website to choose whether to end your subscription with the company.
• Contact Customer Support – In addition to going online to cancel subscriptions, you can contact customer support directly. The company's telephone number can typically be found on your statement or their website.

Handle Challenges

1. Cancelation Confirmation – No matter which way you cancel subscriptions, it is important to retain your cancelation confirmation. This step will come in handy if the company has no record of your cancelation transaction or if you need to discuss the subscription later. 

2. Refund or Billing Issues – If you cancel subscriptions but are due a refund you have not received, or if the company continues to bill you, you should contact the company in writing or via their customer support phone line. Have your cancelation confirmation information handy to refer to it during the conversation. If there are still issues with continued billing, contacting your credit card company to ensure they can no longer bill you for your canceled subscription is a good idea.

Prevent Future Unwanted Subscriptions

1. Regular Review – To prevent future unwanted subscriptions, make it a habit to review your subscriptions regularly. This simple step will allow you to cancel subscriptions you no longer want and help you save money. 

2. Trial Periods and Free Options – Savvy consumers should take advantage of trial periods or free versions before committing to paid subscriptions. This will allow you to evaluate the service and decide if it meets your needs before subscribing to the paid version. Just make sure you keep track of when the trial period ends.

Unwanted subscriptions could be costing you hundreds of dollars each month. Following these simple tips to help you cancel subscriptions you no longer use is a great way to gain control of your finances, do away with costly monthly charges, and let you use your money more effectively or save it for a rainy day.