Finance Tip: Managing Subscription Services

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For more than 150 years, Kennebec Savings Bank has offered finance tips to individuals, nonprofit organizations, and municipalities to educate them on current trends when it comes to financing. 

Our goal is to provide valuable advice on setting and achieving financial goals, protecting your financial security, and expanding your financial education.

Whether you are just starting your journey towards financial independence or looking to improve your current financial situation, our tips and resources are here to help you navigate the complex world of finance. 


Tips for Managing Subscription Services





































In today’s digital age, subscription services have become an easy and convenient way to access everything from entertainment, food delivery, to fitness apps, and more. However, it is easy for these recurring charges to sneak up on your budget, often leaving you with more monthly expenses than you anticipated. But with a few simple strategies, you can take control of your subscriptions and put your money toward the things that matter most to you. Here are a handful of practical tips to help you manage your subscription services more effectively.

Start by Reviewing All Your Subscriptions

One of the first steps in managing your subscriptions is to take an honest look at what you are paying for. Subscription services can accumulate quickly, and it is easy to forget about ones you no longer use. Schedule some time to review your bank statements or use your mobile banking app to review your recurring charges. Many apps and services offer subscription management features, so you can see exactly where your money is being spent. This is your opportunity to identify services you’re not using or no longer need, such as an old streaming service, or a gym membership that hasn’t been used in months. I suggest canceling these to stop the ongoing charges.

Set a Monthly Subscription Budget

Once you have reviewed your subscriptions and cut out the ones that are not needed, it is time to set a budget for the services you decide to keep. Subscription costs can add up quickly, so it is important to prioritize the ones that align with your current lifestyle and bring you the most value. Whether it's a favorite streaming service, a workout app, or a meal plan kit, make sure that each subscription fits within your set monthly budget. This strategy will help you avoid overspending and ensures you are only paying for what you truly use, enjoy, and need.

Track Your Recurring Charges

To stay on top of your subscriptions, be sure to track your recurring charges regularly. Many mobile banking apps, like those offered by Kennebec Savings Bank, can help you keep an eye on your automatic payments. You can easily categorize and monitor your subscriptions, making it simpler to identify any unexpected, or unnecessary charges. If you're using multiple services, it might also be helpful to create a spreadsheet, or set up reminders to review these charges monthly.

Automate Your Savings Instead of Automatic Renewals

A great way to free up money for your savings, or other financial goals is by redirecting funds that would have gone to unnecessary subscriptions. Instead of automatically renewing subscriptions, consider putting that money into a savings account. Even small amounts, such as $10, or $20 a month, can add up over time. Many banks, including Kennebec Savings Bank, offer tools to automate transfers into your savings, making it easy to grow your emergency fund, or work toward other financial goals.

Be Mindful of Free Trials

Free trials can be enticing, but they often lead to unwanted subscription fees if you're not careful. Before signing up for a free trial, make sure you understand the terms, including how much the service will cost after the trial period ends. Set a reminder to cancel the trial before the charges kick in. If you find you truly enjoy the service and want to keep it, then it's a conscious decision to include it in your budget. But without that reminder, it’s easy to forget and end up paying for something you no longer want.

Prioritize Your Subscriptions

Not all subscriptions are created equal. Some bring significant value to your life, while others might only offer occasional use and benefits. Once you’ve canceled unnecessary services and subscriptions, prioritize those that provide the most value to you. For example, if a streaming service helps you unwind after a long day, it might be worth keeping in your budget. If you're paying for multiple services with overlapping content, consider consolidating to reduce your overall costs. Likewise, with app subscriptions or software tools, think about whether there’s one service that offers a similar experience or whether you can make do without certain extras.

Periodically Review Your Subscriptions

Just as you would review your spending habits at the start of a new year, it’s a good idea to revisit your subscriptions every few months. Your needs and preferences may change over time, and it’s essential to adapt your budget accordingly. Make a habit of reviewing your subscription list periodically to ensure you’re still getting value for your money and adjusting as needed.


Managing subscription services doesn’t have to be difficult or overwhelming. By regularly reviewing your subscriptions, setting a budget, and keeping track of recurring charges, you can ensure that your spending stays in check. At Kennebec Savings Bank, we encourage you to take control of your finances and make mindful decisions about where your money goes. Small changes, like trimming unnecessary subscriptions, can free up money for savings, debt repayment, or other financial goals. By staying organized and intentional, you can make your subscription services work for you—rather than against you.

Stay on top of your subscriptions and put your money where it matters most!



Written By: Andrew Silsby, President & CEO