The subscription audit: find the money leaking every month

Why subscriptions hide

They are small, silent and annual-ish. Nothing prompts you to review them, and free trials convert while you are not looking.

Step 1: Get the full list

Scan 12 months, not one — annual renewals will not appear in a single statement. Import your statements into MoneyQuilt and recurring charges get flagged automatically, including the yearly ones.

Step 2: Sort into four piles

• Use weekly — keep. - Use monthly — keep if the price still feels fair. - Used once — cancel. - Do not recognise — investigate today.

Step 3: Do the annual maths

Multiply each monthly price by 12 before deciding. A handful of small subscriptions routinely add up to a holiday.

Step 4: Cancel properly

Cancel at the source, confirm by email, and note the date the access ends. Then check next month's statement to confirm it actually stopped.

Step 5: Redirect the savings immediately

Set up the transfer the same day, otherwise the money is simply absorbed. Send it to a sinking fund or your highest-rate debt.

Keep the annual ones visible

Domain names, insurance add-ons, cloud storage and software renewals should live in a sinking fund with the renewal date recorded, so the charge is expected rather than a shock.

Repeat twice a year

Diary it. Subscriptions grow back.