Perhaps you've been busy cutting your expenses and feel like you have it under control. But, there might be even more you can cut – recurring subscriptions that you don't use anymore. You might not really even notice that you're being charged monthly or quarterly for these expenses!
What are Recurring Subscriptions?
They are subscriptions to services that continue to automatically charge you via credit/debit card or Paypal over specified time periods. Examples include Netflix, Hulu Plus, a newspaper subscriptions, pest control service, yard service, etc.
Do you still use your Recurring Subscriptions?
If you use the services regularly and feel like they are still valuable, then continue your subscriptions. However, take a hard look at your recurring subscriptions to determine if you are still using them and if the price is worth it to you.
Sometimes, it's easy to get lazy and let the charges continue even if you're not really using the service anymore since you have to make an effort to cancel the service. Or perhaps, the price has increased over time, but you didn't really notice it since it's an automatic payment. Make sure that the price of the subscription is still worth it to you.
Take a look back at your bills for several months, since some recurring subscriptions happen quarterly rather than every month. If you see a charge you don't want to continue, there's usually a phone number included in the charge line item that you can call to cancel. Or, you can visit the company's website to cancel your account in some cases.
How to Cancel a Recurring Paypal Subscription
Sometimes, it can be tricky to figure out how to cancel a recurring Paypal subscription. But, here are the steps to take:
- Log in to your Paypal account
- Click the Profile Icon (currently right next to log out)
- Under Payment Settings, click Preapproved Payments
- Check for Active Payments
- Click on the Merchant link and you can cancel those you no longer use
What about you? Do you have any recurring subscriptions that you continue to pay for that you don't really use anymore?