Subscription Audit 101:
Find Hidden Costs & Save Money in Your Business
Ever signed up for a tool, used it for a few weeks, then completely forgotten about it? 🤔
If you’re a business owner, chances are you’ve got subscriptions quietly draining your bank account every month, even ones you don’t actively use.
A quick audit can free up cash flow, cut unnecessary costs, and help you only pay for what truly adds value. Here’s how to do it efficiently (without spending hours digging through statements).
Step 1: Find Out What You’re Actually Paying For
Most subscriptions auto-renew and are easy to lose track of. Before you start cancelling, make a list of everything you’re subscribed to.
Where to look:
📌 Bank Statements & PayPal – Search for recurring charges.
📌 Email Receipts – Search your inbox for “subscription,” “invoice,” or “renewal notice.”
📌 Apple/Google Play Subscriptions – Many apps bill through these platforms.
📌 Business Expense Reports – Check what’s categorized under “software” or “services.”
📌 Stripe/PayPal Recurring Payments – If you have a business PayPal, check pre-approved payments.
Want to make this process easier? I’ve created a free Business Subscription Tracker to help you log everything in one place! ⬇
Step 2: Decide What to Keep, Downgrade, or Cancel
Not all subscriptions are bad, some are essential. The key is to be intentional about what you’re paying for.
Ask yourself:
✅ Am I actively using this? (If you haven’t logged in for 3+ months, it might not be essential.)
✅ Does it add value to my business? (Does it save you time/money, or generate income?)
✅ Can I find a cheaper alternative? (Are there free or lower-cost tools that do the same thing?)
✅ Can I downgrade the plan? (Many platforms offer lower tiers with just the essentials.)
✅ Can I share a subscription? (Some tools allow shared logins or team accounts.)
Pro Tip: Before cancelling, contact the provider, many companies offer discounts if you mention you’re thinking of leaving!
Step 3: Cancel the Ones You Don’t Need (Without the Hassle)
Some services make cancelling deliberately difficult. Here’s how to make it easier:
🔹 Log into the provider’s website (most won’t let you cancel in-app).
🔹 Look for “Billing” or “Manage Subscription.”
🔹 Check for hidden fees (some require notice periods).
🔹 Send a cancellation request email if needed.
🔹 Use a reminder tool (like Google Calendar) to check back before free trials or renewals.
✉ Cancellation Email Template ✉
Hi [Company Name],
I’d like to cancel my [subscription name] subscription as I no longer need this service. Please confirm that my account will not be charged on the next billing cycle.
Thank you!
Bonus: How to Prevent Subscription Overload in the Future
Once you’ve cleaned up your subscriptions, here’s how to make sure they don’t get out of hand again:
✅ Set a recurring date (e.g., every 3-6 months) to review all active subscriptions.
✅ Use a budgeting tool to track expenses and flag increases in spending.
✅ Try before you buy – set a reminder before free trials end.
✅ Group payments – paying annually often saves 20-30%, but only do this for must-have tools.
Your Next Step: Download My Free Subscription Tracker
Don’t let unused subscriptions quietly drain your income. Take back control of your finances today!
🎁 [Download the Free Subscription Tracker Now] 🎁
👉 It’ll help you:
✅ Track all active subscriptions in one place.
✅ Review what’s worth keeping, downgrading, or cancelling.
✅ Cancel services hassle-free with a step-by-step checklist.
💡 How much could you save by doing this today?
Ready to save money and streamline your business expenses?
Download my Business Subscription Tracker and start saving some money today!
