Yesterday, I sat down to watch the FIFA World Cup Final and enjoyed a lazy afternoon. Like millions of other fans, I had signed up for a streaming service that carried the tournament. For a month, it was worth every penny.
Then the match ended.
We spent ten minutes talking about our disappointment and ultimately our agreement with the results, and before I even got off the couch, I opened my account and canceled the subscription. Not because I didn't enjoy it, I absolutely did. I was an active participant in World Cup fever and talked more about football/footy/soccer than ever before. I cancelled the service because I knew exactly why I had signed up in the first place.
It made me wonder how many subscriptions in our lives quietly outlive their original purpose. We often think of subscriptions as small expenses. Ten dollars here. Fifteen dollars there. But over time, those little monthly charges can become one of the easiest ways to unknowingly spend hundreds, or even thousands, of dollars each year.
The Rise of "Subscription Creep"
A decade ago, most households paid monthly for phone lines and maybe cable television.
Today it's everything.
- Streaming services
- Music apps
- Cloud storage
- AI tools like ChatGPT
- Meal planning apps
- Fitness memberships
- Digital newspapers
- Grocery delivery
- Password managers
- Photo storage
- Online learning platforms
- Boxes of curated things for literally any hobby imaginable
- Even AMC has a monthly movie subscription now
Many of these services provide real value. The problem isn't having subscriptions; it's forgetting about them. Subscription creep happens slowly. You sign up for a free trial, keep it because you use it, then another service launches, then another. Before long, your credit card statement contains charges you barely recognize. I mean, how many of us are really getting $10.50/month worth of use out of Microsoft suite? A lot probably, but certainly not everyone who pays for it.
Small Numbers Become Big Numbers
Here's a simple example.
Five forgotten subscriptions averaging $15 per month doesn't feel like much.
That's:
- $75 each month
- $900 each year
- $9,000 over ten years (without considering what that money could have earned if it had been invested)
Suddenly, those "small" charges aren't so small. (Also, who only has $15 worth of monthly subscriptions? Come on, this example was a best-case scenario!)
This isn't about depriving yourself of things you enjoy. If you watch Netflix every week or use Spotify every day, that's money well spent.
The goal is making sure every subscription is one you would intentionally purchase again today.
A 15-Minute Financial Challenge
Set a timer for fifteen minutes and pull up your bank or credit card statement.
Ask yourself three questions:
- What am I paying for every month?
- When was the last time I actually used it?
- If I didn't already have it, would I sign up again today?
You might be surprised by what you find. Many people discover duplicate streaming services, apps they downloaded years ago, or annual renewals they forgot existed. Even canceling one or two subscriptions can free up enough money to increase retirement contributions, build an emergency fund, or simply create more breathing room in the monthly budget. And you don’t need to pay for another subscription service to do this for you! Raise your hand if you’re tired of seeing those Rocket Money commercials.
It's Not Really About the Streaming Service
The lesson isn't that subscriptions are bad. It's that intentional spending is one of the simplest ways to improve your financial life. I enjoyed every minute of the World Cup, and I'd gladly subscribe again for the next tournament. But until then, I don't need to keep paying for something I'm no longer using because I’m simply not going to watch “Farmer Wants a Wife,” but if it gives you joy then don’t unsubscribe. Sometimes good financial habits aren't about making dramatic sacrifices. They're about remembering to blow the final whistle on expenses that have quietly overstayed their welcome.
Best of luck,
Chandler