How to manage subscriptions for smartphone apps and save money quickly

This updated post, originally published on November 2, 2017, addresses the common problem of unknowingly accumulating subscription fees from smartphone apps. Many apps use recurring payment models, making it easy to lose track of expenses, especially with forgotten free trials. This guide offers several methods to audit your app subscriptions and regain control of your spending.

1. Check Your App Store:

Both the iOS App Store and Google Play Store maintain records of your subscriptions. Accessing these records provides a quick overview of your recurring payments and allows for easy cancellation. However, this method only covers apps subscribed to through these stores; it won't include those purchased online or via a computer.

• Apple: Navigate to Settings > Your Name > iTunes & App Store > Apple ID > View Apple ID > Subscriptions. Manage and cancel subscriptions from this screen.
• Android: Open the Google Play Store app, tap the menu (three horizontal lines), select "Subscriptions," and manage/cancel subscriptions.

2. Review Emails and Bank Statements:

For subscriptions outside the app stores (e.g., YouTube Premium), check your email inbox for recurring payment notifications. Search for terms like "free trial," "payment," or "subscription" to uncover forgotten services. If email searches prove fruitless, meticulously review your bank statements for app-related charges. Cancel these subscriptions through the respective app or website.

3. Utilize Subscription Management Apps:

Several apps simplify subscription tracking. Truebill (Android and iOS) connects to your bank account, displaying all subscriptions and recurring payments. It also monitors price changes. Trim offers similar functionality but operates via text and online access. For more comprehensive financial management, consider Miwnt or Marcus Insights, which combine subscription tracking with budgeting and payment tracking.

4. Restrict In-App Purchases:

To prevent accidental or impulsive in-app spending, especially if sharing your device, limit in-app purchases:

• Apple: Go to Settings > Screen Time > Content & Privacy Restrictions. Enable restrictions, then navigate to iTunes & App Store Purchases > In-app Purchases and select "Don't Allow." For added security, set a Screen Time passcode.
• Android: Open the Play Store app, tap the menu (three horizontal lines), select "Settings," then "Require authentication for purchases." Choose the desired authentication frequency.

By employing these strategies, you can effectively audit your app subscriptions, identify unnecessary expenses, and take control of your app-related spending.

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