*We updated this page July 17th, 2023 when I realized we forgot to include our annual Playstation Network subscription.

Pop Quiz

Before you say, “This site has tests? Bye, Felicia!” hear me out.

This pop quiz is a quick challenge that can save you hundreds a month. That’s worth a few minutes of your time, no?

Take the Quiz

Start with a blank sheet of paper, a note on your phone, the back of a utility bill envelope, anywhere you can make a list.

List out all your monthly, quarterly, and annual subscriptions by name and amount. No peeking! This step is all by memory.

Ready? Go!

*Plays Jeopardy music and bobs head along*

*Buzzer sounds*

Ready? No? Then keep going. This isn’t timed.

Review Your Quiz

Once you’re done, pull out your credit card statements for the last 30-day cycle. ALL of them, my friend, this is not the time to Becky Bloomwood them under your bed and act like you have less than you do. We need them all. No judgment or shame here. We ain’t even gonna name your number. It’s time to scrub your statements.

Put a check mark by all the ones you remembered. For us, those were:

• Amazon
• Netflix

Pretty easy, right? Nailed it!

Now, add any you forgot.

Some common ones people forget are:

• Streaming services (music, audiobooks, magazines/news/media outlets, movies, digital cable)
• Subscription boxes (clothing, food, drink, kid’s entertainment boxes, etc.)
• Gaming subscriptions (Twitch, online MMOs, Playstation/Xbox subscriptions, etc.)
• Subscriptions that bill annually

What we forgot:

• My husband’s hippie mushroom coffee concoction subscription
• Our annual security alarm subscription payment
• Our annual Playstation Network subscription (I had to come back and update this post because I forgot this one until it hit the credit card – this is why I don’t like auto renewals without alerts)

You can also include things like phone plans when doing this challenge. While I consider that a utility, it can be helpful to include, especially if you have subscriptions added on like protection plans, etc. It never hurts to review your bills and see where you might be able to trim expenses and save!

Grade Your Quiz

Once you’re done doing a full scrub, add them all up. How much are you paying in monthly subscriptions? (If certain subscriptions are charged quarterly or annually, split the total into a monthly equivalent for the purpose of this quiz).

Our total score: $79.67

Sit with that number for a minute. Does it surprise you? Overwhelm you? How many subscriptions did you forget? (Feel free to share in the comments, we’d love to know the most common overlooked ones!)

Do Your Homework

Reflect on this list over the next few days, especially if your trying to get out of debt. What has been on autopilot for so long you forgot you had it? Are there some you rarely or never use that you could ditch? While certain categories can make a huge difference in your budget (housing, car payments, etc.) small changes can add up to significant savings and can help tackle those bigger items in your budget.

Statistics on the average for subscriptions can jump around depending on what’s included in the definition, but the average American spends roughly $200-$275 a month in subscriptions. That’s $2,400 to $3,300, what we would call in our house a vacation!

While we fell under the national average, our number got us thinking. When Amazon notified us that our annual subscription was increasing another $20 for this year, we decided to cancel it and Netflix, cutting our subscriptions in almost half. It’s been a few months now, and we haven’t missed either, especially since we get free streaming through our internet provider and utilize the library a lot for their digital content.

The Takeaway

Putting expenses on autopay is a great way to free up time and prevent late fees. Companies know this, which is why so many of them push for it as a default. Want a free trial? Just give us your credit card. You’re free to cancel in seven days before we charge you. Three years later, you’re still paying for that Peacock service you forgot you had!

One of the fundamental keys to financial freedom is simply paying attention to where your money is going so you can make it work for you. Taking this quiz is a great way to be mindful of your money, and maybe saving you a few (hundred!) bucks a month.

Share your results below!