How to Slash Every Monthly Bill You Have

The list of recurring expenses we often forget to cancel goes on and on. It includes:

  • Gym memberships
  • Magazine subscriptions
  • E-book services
  • Video-streaming and pay-TV services
  • Mobile apps with monthly fees

The internet makes it easy to sign up for a service or subscription — and to lose interest in it before long. But if you forget about a recurring expense for a service you no longer use, it can keep costing you, again and again.

To reduce the risk of forgetting about such an expense, periodically review your recurring expenses. There are two main ways to do this:

  • The hired-help method, which can save you time and stress, but can cost you some potential savings.
  • The do-it-yourself method, which can be time-consuming and tedious, but saves you money.

Reviewing memberships and subscriptions the easy way

There are now multiple services that specialize in finding and canceling any memberships, subscriptions and other recurring expenses you’re paying for, but not using.

Others can negotiate lower recurring expenses on your behalf. For example, imagine having your internet bill slashed without ever needing to pick up the phone to argue with the internet provider.

Examples of services and apps that can find and cancel subscriptions, negotiate lower bills or both include:

These services are typically free, at least at the outset. If a service can negotiate a lower bill for you, it often takes a small percentage of the money it saves you as a commission. But you generally won’t be charged if one of these services is unable to net you savings. So, it’s essentially free to try them.

To learn more about how they work, check out “Should You Hire a Service to Negotiate Your Cable and Other Bills?

Reviewing memberships and subscriptions the DIY way

If you’re one of the financially fastidious folks like myself who routinely review their financial statements, a DIY method might be the right approach for you.

Basically, it entails you doing everything a third-party service would do for you. That means rounding up and combing through your:

  • Credit card bills — at least one year’s worth
  • Bank/debit card statements — at least one year’s worth
  • Emails (and anywhere else you might have receipts) — at least one year’s worth
  • App store settings

Combing through financial statements and receipts helps you to identify subscriptions and memberships for which you did not go through an app.

You want to go through at least one year’s worth of statements and receipts to make sure you identify subscriptions and memberships for which you are being charged only once a year, rather than monthly or weekly.

Looking through your computer and smartphone settings for whichever app stores you use helps you identify subscriptions and memberships you obtained through an app. Popular Science explains:

“If you’ve subscribed to something through the iOS App Store or the Google Play Store, you’ll have used the payment credentials registered with Apple or Google. And that means they’ll have records of any recurring payments. Reviewing these records gives you a quick way to see how much you’ve been paying, and whether you should consider canceling any given subscription.”

Once you’ve combed through all of that, decide whether you want to cancel or try to reduce the cost of any subscriptions or memberships you no longer use. Then, get to work canceling them.

Have you ever used a service to find or cancel old subscriptions or memberships? Tell us about your experience and if you’d recommend it to others by commenting below or on the Money Talks News Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
26 Work-From-Home Jobs That Pay $100,000
26 Work-From-Home Jobs That Pay $100,000

These lucrative gigs let you work in your slippers.

Eat This Food If You Want to Avoid Alzheimer’s Disease
Eat This Food If You Want to Avoid Alzheimer’s Disease

One type of food associated with the Mediterranean diet offers especially large benefits.

The 3 Biggest Regrets of Retirees — and How to Avoid Them
The 3 Biggest Regrets of Retirees — and How to Avoid Them

Rescuing a retirement from regret starts with these steps well before it’s time to quit working.

5 Monthly Bills You Can Easily Negotiate Down
5 Monthly Bills You Can Easily Negotiate Down

Here’s how to bring down recurring expenses and save hundreds — or even thousands — of dollars each year.

The Most Common Reason That Older Adults Fall Down
The Most Common Reason That Older Adults Fall Down

The good news: It’s possible to avoid potentially devastating falls.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

Whether you resell it for a big profit or add it to your own wardrobe, this type of clothing is a hidden steal.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

This Surprise Factor Can Raise Your Risk of Dementia
This Surprise Factor Can Raise Your Risk of Dementia

Nearly half of U.S. residents may face this threat.

Organize Your Home With These 10 Thrift Store Finds
Organize Your Home With These 10 Thrift Store Finds

Resolve to be clutter-free in 2021 with these secondhand purchases.

11 Laws You Could Be Breaking Without Knowing It
11 Laws You Could Be Breaking Without Knowing It

Seriously? Fibbing about the weather is a crime? This and other little-known legal traps await the unwary.

Is This Treatable Condition Causing Your High Blood Pressure?
Is This Treatable Condition Causing Your High Blood Pressure?

Researchers say too many doctors are overlooking this potential source of hypertension.

13 Things Seniors Can Get for Free — or Almost Free
13 Things Seniors Can Get for Free — or Almost Free

There are many ways to get cheap or free services and goods after reaching a certain age.

These Are the 3 Best Used Cars You Can Buy
These Are the 3 Best Used Cars You Can Buy

These vehicles boast reliability, safety and long-lasting value.

Taking a Multivitamin? Here’s Why You Should Reconsider
Taking a Multivitamin? Here’s Why You Should Reconsider

A new study has bad news for the millions of Americans who spend money on multivitamins.

21 Items to Cut From Your Budget That You Won’t Even Miss
21 Items to Cut From Your Budget That You Won’t Even Miss

Start off the new year by implementing these small-but-smart savings strategies. They’ll soon add up.

Internet Providers Can’t Charge You for This Anymore
Internet Providers Can’t Charge You for This Anymore

Starting this month, your ISP no longer can bill you for this fee.

15 Painless Ways You Can Cut Costs in 2021
15 Painless Ways You Can Cut Costs in 2021

Follow these tips to save, so you’ll have money for things that really matter.

9 Small Expenses That Are Bleeding Your Budget Dry
9 Small Expenses That Are Bleeding Your Budget Dry

Keep more of future paychecks by eliminating these budget-busting unnecessary expenses.

Prepare to Pay More for These 31 Drugs in 2021
Prepare to Pay More for These 31 Drugs in 2021

More than 700 prescription medications have seen price hikes so far this year. Here’s a look at the worst.

5 States Lowering Taxes This Year — and 2 Raising Them
5 States Lowering Taxes This Year — and 2 Raising Them

State personal income tax rates, brackets and deductions just changed in these places.

11 Huge Retirement Costs That Are Often Overlooked
11 Huge Retirement Costs That Are Often Overlooked

Does your retirement budget account for all of these costs?

7 Tricks to Cleaning Your Bathroom Faster
7 Tricks to Cleaning Your Bathroom Faster

These tips can get your bathroom sparkling with little time and no elbow grease.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.