How to Effectively Cancel Unwanted Subscriptions

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Subscriptions have become an integral part of our lives, from meal kits to streaming services. However, not all subscriptions are worth the money we spend on them. If you’re looking to cut unnecessary costs, follow these steps to stop unwanted subscriptions:

1. Understand How Subscriptions Work

Subscription-based businesses charge a recurring fee for access to their products or services. When you sign up, you provide your payment details, choose a pricing plan, and pay the initial installment. The subscription then renews automatically until you cancel it.

2. Consider These Factors Before Canceling

Before canceling a subscription, keep the following in mind:

  • Date of Cancellation: Stop the subscription a few days before the billing cycle ends to avoid paying for another month.
  • Access to Benefits: After canceling, you can typically continue using the subscription until the end of the billing period.
  • Refunds: Some companies offer refunds if you cancel within a specified period. Otherwise, you won’t get a refund for the period you’ve already paid for.
  • Other Fees: Depending on the company, you might face additional fees (e.g., early termination fees for fixed-term contracts).

3. Find and Cancel Subscriptions

Here are practical steps to find and cancel subscriptions:

  • Check Your Statements: Review your credit card statements from the past year. Look for recurring payments related to subscriptions.
  • Use Subscription Tracking Tools: Consider using tools like Rocket Money or OneMain Trim. These tools identify and help you cancel unwanted subscriptions.
  • Check Google and Apple Subscriptions: For iPhones and iPads, go to Settings > Apple ID > Subscriptions. There, you’ll find a list of current subscriptions and their billing dates1.
  • Consider Categories: Consider all of the categories of subscriptions to jog your memory on subscriptions you may have forgotten about. Some of those categories are:
    • Retail/Shopping (e.g. Amazon Prime, Walmart+, Sams Club, Costco)
    • Video Streaming (e.g. Netflix, Disney+/Hulu, Paramount+, AppleTV+)
    • Cloud Productivity/Storage (e.g. Microsoft Office 365, Google One, Dropbox)
    • Music Streaming (e.g. Spotify, Apple Music, Tidal)
    • Game Streaming (e.g. Nvidia GeForce Now, Amazon Luna)
    • Gaming (e.g. Xbox Game Pass, Playstation Plus, World of Warcraft)
    • Audio and eBooks (e.g. Amazon Audible, Amazon Kindle Unlimited)
    • Creative Tools (e.g. Adobe Creative Cloud, Canva, Descript, Riverside)
    • AI Tools (e.g. ChatGPT Plus, Google Gemini Advanced, Microsoft CoPilot Pro)
    • Meal Kits (e.g. Factor, Home Chef, Thistle, Freshly, Hello Fresh, Blue Apron)
    • Rideshare (e.g. Lift Pink, Uber One)
    • Food delivery (e.g. Uber Eats/One, Grubhub+, DoorDash Dash Pass)

Additional Recommendations:

  1. Virtual Cards: Use virtual cards (like those from Privacy) to manage subscription payments. These cards allow you to control charges and prevent unexpected fees2.
  2. Cancellation Letter: If needed, write a cancellation letter to the subscription provider. You can find sample templates online3.

Remember to visit the official website of the service you want to cancel for the most up-to-date information. Happy subscription management!