I Asked a Budgeting Pro to Audit My Subscriptions — Here’s What They Said to Cancel

This January, I committed to regular check-ins with my budgeting app. For years, I was diligent, opening it every morning when I sat down at my desk. But my attention to detail has gone off the rails in the past few years. I know enough to have a macro-level handle on what’s going in and out, but do I know every transaction that happens in a month? Not so much. And, while I consider myself to be on the lighter end of the number of monthly subscriptions, I know there are some that I could stand to cut — or maybe even some I could consider adding. 

To add some structure to my subscriptions, I chatted with Melissa Murphy Pavone, a certified financial planner and founder at Mindful Financial Partners. I sent her the list of things I subscribe to and got her insights on how to audit my list, figure out where I’m getting value, and decide whether there are any that I can let lapse in 2025.

Here’s how Pavone talked me through the subscription audit process.

Pavone says that before even thinking about the subscription audit, it’s critical to have a clear understanding of your monthly income and expenses. Understanding essential spending versus discretionary spending gives you an idea of what you can allocate toward subscriptions (and, keep in mind, subscriptions could fall in both categories!). “Categorize expenses into essentials (e.g., rent, utilities, groceries) and discretionary (like subscriptions, dining out, or entertainment),” Pavone recommends.

“This step helps provide a sense of what’s possible and ensures you’re not just making cuts for the sake of it but aligning your spending with your values and goals,” says Pavone.

“Make a comprehensive list of your subscriptions — monthly, annual, or even those that feel ‘small.’ They add up! It’s easy to lose track, especially if they’re auto-deducted,” says Pavone. “Check bank statements and credit card bills to catch everything.”

Here’s what I had:

• Music streaming app, $10.59 monthly
• Workout class app, $147.34 monthly
• Fitness studio app, $221.54 monthly
• Digital storage app, $10.59 monthly
• Medical concierge app, $199 annually
• Photo editing app, $10.59 monthly
• Graphic design app, $12.99 monthly
• Budgeting app, $2.99 monthly

What I don’t have? Any streaming subscriptions for TV! And that’s something I actually wanted to discuss with Pavone. I’m trying to carve out more downtime this year, and I have this wild idea that a streaming network could encourage me to do just that — watching TV can be a form of self-care, after all. But I don’t want to find myself in the position that so many people talk about, paying more for streaming than people paid for cable back in the day. Previously, I had Netflix, which looks to be $17.99 monthly today. I rarely used it and, when my subscription lapsed due to an expired credit card, I never bothered to update it.

Pavone then told me to look through the list and assess the value of each one in my everyday life. She recommended starting by asking myself whether I’m actually using a subscription. 

• Do I truly use it (not just aspirationally)?
• If I’m not using it, is there a reason?
• Does it align with my priorities or does it bring me joy or convenience?

And, even if it does bring me value, Pavone asked, “Is there an alternative? Could you replace it with something cheaper or even free?”

This made me consider my photo editing, graphic design, and budgeting apps. I do use and enjoy them, but I am sure there are free alternatives. I’m used to using these, which counts for something, but is that worth spending a couple of hundred dollars between all of these subscriptions? 

Based on your answers in the previous section, Pavone says to decide whether you want to cancel, adjust, or renew each subscription. “If you rarely use a TV streaming service, opt for a lower-tier plan or pay only during the months you watch specific shows,” Pavone says. “Renew what you genuinely love and use often.”

For me, this immediately led to dropping down my subscription for monthly workout classes. While I do like the service, and I like the ability to take the occasional pilates or yoga class, often I end up booking a massage just to use up points at the end of the month. This is a sign I need a lower membership level. Now I’m paying roughly $100 less per year for fewer monthly points.

I also explored alternatives for my photo editing, and I decided that it was worth it to keep my current subscription. It has all of my existing presets and albums, and I prefer the hyper-controlled way I can edit within it, rather than relying on a free service. 

I haven’t made a decision about the budgeting app (I’m all ears for a free option!), but that’s on my radar to do before my annual subscription renews. I’ve set a reminder in my phone so I don’t let it auto-renew without giving it some extra thought. 

And on my list to add? One singular streaming subscription that has the current shows I want to watch — and I’ll reassess it as soon as I’m done with those. My focus in this category is providing myself with an outlet for relaxation, so I’ll adjust accordingly as needed.

“Subscriptions often go on autopilot, which is convenient but can lead to ‘leakage’ in your finances,” Pavone says. “Regular audits are a great way to tighten the purse strings, realign with your goals, and ensure your spending reflects your values. It’s about mindful consumption.”

Auditing my subscriptions left me with a net positive of about $83 monthly, which adds up to just shy of $1,000 a year — nothing to scoff at! I thought my subscriptions were as streamlined as possible, but even my minimal approach to subscriptions had room to trim. 

If I hadn’t taken the time to go through Pavone’s process, I easily could have let the workout studio subscription continue at its current rate, not realizing just how much extra I was needlessly spending every month ($1,200 a year over my new subscription rate!). And, now, even as I add a streaming subscription, I’ll be conscious of whether I’m actually using it and checking in regularly to determine whether it’s something I should keep or let go.