You are here: Home - Household Bills - News -

Brits blow £3bn on unused subscriptions

Written by:
Britons are wasting nearly £3bn on subscriptions they rarely use, a study has found.

Almost three-quarters (73 per cent) of UK adults are currently paying for subscriptions and memberships, with 54 per cent adding at least one service since the start of the pandemic.

The cost of these subscriptions averages out at £17.65 per person each month – or £7.9bn across the population.

However, the research by TopCashback found almost half (48 per cent) of people are paying for something they haven’t used regularly in the last six months, with each person wasting £105, or £2.9bn collectively.

While half of Brits said they relied on subscriptions to access content and entertainment during lockdowns, almost a third (32 per cent) intend to cancel some or even all of their subscriptions now restrictions have been lifted.

TV and music streaming services – such as Netflix, Amazon Prime and Spotify –were the most popular subscription services in 2021.

Food delivery subscriptions – including Gousto and Hello Fresh – also gained popularity, as did delivery subscription services such as Amazon Prime and ASOS Premier.

Adam Bullock, UK director at TopCashback, said: “With many months of lockdown or restrictions now behind us, it makes sense that Brits would now decide to cull a few subscriptions or memberships. Although these may have proven useful, entertaining, or convenient over the past year, it’s easy to forget or ignore the potentially large expense that racks up and gets taken out of our bank accounts each month.”

To save money, Bullock said people should review their subscriptions and memberships to ensure they’re getting value for money and keep an eye out for when free trials come to an end.

Related Posts

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week