CNET looks at how much we’re spending on subscriptions. And it’s a lot.
According to the tech site’s latest survey, the average U.S. adult pays $1,080 a year, or $90 a month, for subscriptions. 61% of subscribers admit they’re second-guessing their subscription spending.
A quarter (26%) have already canceled at least one subscription and 24% are considering it. But here’s the thing, we don’t even use all the subscriptions we’re paying for, as the average person is still spending $205 on unused subscriptions every year. It’s even worse for Gen Z, they’re shelling out $272 a year on unused or forgotten ones.
So, what are the most popular subscriptions? Streaming services top the list, with 61% paying for Netflix, Hulu and other TV streaming services.
Number two is e-commerce sites, like Amazon Prime (37%), and music subscriptions (33%).
Big box retailers are next (29%), followed by gaming subscriptions (17%) and news and media (15%).
Paying for the subscriptions you actually use is one thing, but why spend over $200 a year for ones you forgot about or just don’t use anymore? To make sure you’re not doing that, experts suggest checking in on your subscriptions regularly and going through your bank and credit card statements to verify charges.