How to do a subscription audit for your household

A subscription audit is a simple way to see exactly what your household is paying for each month. Many of us sign up for services and forget about them, or we miss small price increases that add up over time. By setting aside twenty minutes to review your spending, you can identify services you no longer use and ensure your money is going toward things that actually add value to your home.

Find your recurring charges

Start by gathering three months of bank and credit card statements for every account your household uses. Look for repeating charges, even if the merchant name looks unfamiliar. Sometimes a service appears on your statement under a parent company name rather than the brand you recognise. You should also check your app store subscriptions on your phone, as these are often billed through your device account rather than directly by the service provider.

Search your email inbox for terms like subscription, renewal, receipt, or trial. This is the best way to catch annual renewals that might not appear in a single month of bank statements. If you use Hey Proofy, you can forward your receipt emails to keep them in one place, making it easier to see the shop, date, and total for every service you pay for.

Calculate the true cost

Once you have a list, convert every charge into an annual figure. If you pay $15 a month, that is $180 a year. Seeing the yearly total often makes it easier to decide if a service is worth the cost. If you have multiple people in your home, combine your findings into one list to avoid paying for duplicate streaming services or software that everyone is using separately.

When you review your list, look for price rises. If a bill seems higher than it was six months ago, check your account settings or recent emails for notification of a price change. If you are not using a service, or if you only use it once every few months, consider cancelling it. You can always sign up again later if your needs change.

Manage your renewals

Free trials are a common way to start a subscription you might not intend to keep. If you sign up for a trial, set a reminder to cancel it before the first payment is taken. For annual subscriptions, set a calendar reminder for 30 days before the renewal date. This gives you enough time to decide if you want to keep the service before the next charge hits your account.

If you find it difficult to keep track of these dates, Hey Proofy can help by tracking your warranty and subscription dates and sending you a reminder before they end. This keeps your bills and subscriptions in one list, allowing you to search your own receipts and share the information with your household so everyone knows what is being paid for.

What to do next

1. Set a recurring calendar reminder for every three months to perform a quick subscription audit.
2. Create a shared list of all household subscriptions, including the renewal date and the person responsible for the account, and visit https://heyproofy.com/nz to see how to keep your receipts and bills in one place.
3. Review your consumer rights at https://heyproofy.com/nz/your-rights to understand how the Consumer Guarantees Act applies to the services you pay for.