What is a subscription finder and how do you get the most out of one?

Introduction

To say that we are approaching uncertain financial times may be the understatement of the new decade. With fuel and energy costs soaring for many countries and inflation rates not being seen since the 1980s our consumption of goods and services will need to be cut back. This is most certainly bad news for an economy built on high consumption of goods and services but we as consumers now need to be more fiscally responsible than ever before.

Subscription Services and your Wallet

The subscription business model is a lot of things but its convenience cannot be argued against. Businesses understand this and know it is not very hard to find a subscription service for any of your needs or wants. Razors, pet food, groceries, meals, cereal, and contact lenses have all been turned into a subscription model along with our entertainment. We now are overwhelmed with choices on this front, in the 2021 CTV Growth Opportunity Report it was found that 56% of respondents were overwhelmed by the sheer number of services available.

What's more, is that with this drive to a subscription-based model that many companies are pushing, our average spending on these goods and services has increased. J.D. Power notes that in the US the average household increased their subscription spending from 47 USD to 55 USD in the first 6 months of 2021. It's little wonder many people have noticed that their bank balances aren't as healthy as they believed them to be.

How to Trim the Fat

Given how many many subscription services we have signed up for, especially during the COVID-19 pandemic it is difficult to keep track of exactly what we are paying for. This is especially true for those services that might be paid yearly rather than monthly. If you have the patience to go through months of bank statements then this method will certainly work.

Thankfully, technology while enabling the subscription pandemic has also brought forward a handy solution in the form of easy-to-use apps. Such an app often referred to as a subscription finder, is capable of finding all your subscriptions and presenting them to you in a visibly pleasing user interface making the job of trimming the fat much easier. Signing up is simple and often just involves downloading the app from your favorite app store and entering your details.

Given that the details you are entering are considered sensitive many of these apps boast high levels of encryption and other security routines to keep your data safe and this should be one of the requirements you tick off when selecting such an application to help you save money.

Conclusion

Given the convenience of subscription services, it is little wonder we signup so quickly for the services we think we need. Unfortunately over time the services we thought we needed are barely used and go uncancelled costing the subscriber money for not even using the advertised service. Thankfully subscription finders make the job of collecting subscription information in one place easy, saving us potentially thousands of dollars.