A subscription audit you can finish one bill at a time

Start with payments, not memory

Open recent bank and card statements, then check app-store subscriptions and payment services separately. Some annual renewals will not appear in the last month. Make a simple list: service, amount, billing period, renewal date and where you manage it. Do this in your own records; Cognivo does not need a bank login.

Ask whether you would choose it today

For each item, note when you last used it, whether another service duplicates it and what you would lose by cancelling. A rarely used service can still matter. The aim is a deliberate choice, rather than cancelling everything with a recurring charge.

Put the small number on an annual basis

A fictional $19 monthly subscription costs $228 over 12 unchanged payments. Cancelling three months before an already-paid annual term ends might not produce an immediate refund. Separate money no longer payable in future from money already paid.

Check the agreement before stopping a payment

Cancellation steps depend on the provider and how you subscribed. Stopping a direct debit does not necessarily end the underlying agreement or remove an amount owed. Keep the cancellation confirmation and check later statements. Use MoneySmart’s direct-debit guidance when the payment mechanism is the problem.

Count the result once

In the bill tracker, record the old annual cost, the verified replacement cost and whether the change is completed. Keep one-off refunds separate from recurring savings. A cheaper plan you have only looked at is a possibility, not an achieved saving. Set a reminder to review any introductory price before it expires.

Official references

General information and fictional examples; independent professional review has not been completed.

Sources checked 22–23 October 2026. Examples and worksheets are our own illustrations.

• MoneySmart: direct debits ↗

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