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Take Control of Your Spending: A Simple Guide to Managing Subscriptions

In our tech-filled world, we’ve got subscriptions for everything – music, workouts, games, you name it. But with so many bills popping up each month, it’s easy to lose track. Even though Mastercard added a safety net in 2019, we still need to be watchful. To make things easier, let’s explore how you can keep tabs on your subscriptions using app stores, handy apps, and virtual cards.

How to Manage Subscriptions in App Stores

If you have subscriptions on Android or iOS, you can sort them out easily through the app stores.

  • iOS (App Store): Open the App Store, tap on your profile picture or initials, and go to ‘Subscriptions.’ You can organise your active subscriptions by name, price, or renewal date. If you want more details or need to cancel a subscription, tap on it. If a subscription is not active, you can renew it.
  • Android (Google Play Store): Open the Play Store, tap on your profile picture or initials, go to ‘Payments & subscriptions,’ and find ‘Subscriptions.’ Here you can cancel your active subscriptions or put them on hold for a chosen period of time.

How to Manage Subscriptions with Mobile Apps

Some cool apps are here to rescue you from subscription chaos. While it might sound a bit odd to consider using another subscription service to organise your subscriptions, these apps can actually be incredibly helpful, and the best part is, many of them are free.

Rocket Money (formerly Truebill)

This app tracks and cancels subscriptions you don’t need, helping you save some cash effortlessly. But that’s not all – Rocket Money provides valuable spending insights, allowing you to understand where your money is going and make informed decisions about your expenses. The built-in budgeting feature helps you set financial goals and stay on track with your spending habits. For those looking to boost their savings, Rocket Money introduces Autopilot Savings, a handy feature that automatically sets aside money into your savings account.

The best part? Rocket Money is free to use, making financial management accessible to everyone. However, for users looking to unlock premium features like custom budget categories and credit reports, a subscription option is available.

Bobby (formerly Billy)

Bobby gives you a clear view of your monthly spending, making subscription management a breeze. This user-friendly mobile app adopts a manual input approach, where you can easily enter your subscriptions with details like billing dates and monthly prices. The result is a comprehensive list of all your monthly balances, conveniently displayed in one clean format.

One great thing about Bobby is that it sends you reminders when your subscription payments are due. This helps you stay organised and avoid missing any payments or getting charged late fees. The free version of Bobby lets you manage up to four subscriptions, which is pretty handy for many people. But if you have more subscriptions, you can unlock the full features for a small fee.

Trim by OneMain

Trim is a handy service that helps you cut down on unwanted subscriptions. There’s no mobile app, so you can use it on your computer or sign in using your phone’s browser. Once you’re in, Trim gives you a personal dashboard to handle your subscriptions, negotiate bills, and even save money automatically. The company claims that people using Trim save about $213 on average each year. It’s totally free to sign up, making it a straightforward and budget-friendly tool for sorting out your subscriptions and saving some cash.

How to Manage Subscriptions Using Virtual Cards

Virtual cards are like superheroes for managing subscriptions, helping you rescue your finances with their clever features. Imagine having a card specifically dedicated to your subscriptions, equipped with customisable spending limits and expiry dates. With this superpower, you only pay what you’ve planned, and there are no surprises if a subscription price suddenly goes up.

Moreover, certain companies offer disposable virtual cards, adding an extra layer of protection against surprise charges. These cards are designed for one-time use, preventing any recurring payments or unexpected fees. It’s a fantastic way to keep those surprise charges at bay and maintain a tight grip on your subscription expenses.

Get Your Free Virtual Card with CFPS

We offer a free virtual card to all our customers who open an IBAN account with us. The process is quick and easy – simply access the app, and your virtual card is created instantly. Once in your hands, you can link it to your recurring subscriptions effortlessly, gaining control over your monthly expenses. The flexibility doesn’t stop there – you have the ability to block your card anytime, anywhere via your phone. And guess what? You can block your card anytime, right from your phone. Plus, you can get a new one for free up to 3 times every month! Moreover, our virtual card isn’t just for managing subscriptions; it’s also perfect for secure online shopping or convenient contactless in-store purchases with Apple or Google Pay.

Taking charge of your subscriptions doesn’t have to be complicated. By using the app stores, trying out handy apps, or utilising virtual cards, you’re taking control of your expenses. So, go ahead, pick the method that suits you best, or combine them all! The secret sauce is staying organised. No more surprise charges or forgotten trials – it’s time to make your subscriptions work for you!

Posted on January 18, 2024