How to Audit Your Subscriptions in 5 Minutes

You don't need an hour, a spreadsheet, or an app. You need your phone, your bank app, and five minutes.

Minute 1: Open your bank app

Pull up your transaction history for the last 30 days. Most banking apps let you search or filter by transaction type. Look for "recurring", "direct debit", or "subscription" if your app supports those filters.

If it doesn't, just scroll. You're looking for charges that appear every month around the same date: streaming services, software, gym memberships, cloud storage, meal kits, news paywalls.

Minute 2: Write them down

Open your notes app and list every recurring charge you find. Include the name and the amount. Don't judge yet. Just capture.

A typical list might look like:

• Netflix $22.99
• Spotify $13.99
• iCloud $4.49
• Adobe $54.99
• ChatGPT $30
• YouTube Premium $22.99
• Gym $65

Minute 3: Add the ones your bank app missed

Your bank shows the last 30 days. But some subscriptions bill quarterly or annually. Think about:

• Annual charges (Amazon Prime, Microsoft 365, antivirus software, domain renewals)
• App Store subscriptions (check Settings > your name > Subscriptions on iPhone)
• PayPal recurring payments (check PayPal > Settings > Payments > Manage Automatic Payments)

Add anything you remember to the list.

Minute 4: Total it up

Add the monthly amounts. For annual subscriptions, divide by 12. Write down the monthly and yearly total.

Most people are genuinely surprised. A 2023 survey found consumers underestimate their subscription spending by an average of $133 per month. When you see "$412/month" or "$4,944/year" written down, the abstract becomes concrete.

Minute 5: Mark each one

Go through the list and mark each subscription with one of three labels:

Keep. You use it regularly and it's worth the cost.

Cancel. You forgot about it, barely use it, or can live without it. Head to our cancel guides for step-by-step instructions.

Downgrade. You use the service but don't need the premium tier. Spotify has a free tier. Canva has a free tier. Notion has a generous free plan. iCloud gives you 5GB free. Check if the free or cheaper option covers what you actually use.

After the audit

Cancel the "cancel" list today. Not tomorrow. The whole point of a 5-minute audit is that you act immediately, before the list gets buried in your notes app like the last time you said you'd "look into it."

Set a calendar reminder to repeat this audit in three months. Subscription creep is ongoing. New free trials convert, prices increase, and services you used to love become irrelevant.