Protect your wallet from sneaky subscriptions
Subscriptions make life convenient. From streaming services and meal deliveries to online tools, they promise easy access with little effort. The catch is automatic renewals. Many Australians end up paying for services they no longer use because cancelling can be confusing, slow, or hidden behind complicated steps.
What are subscription traps?
A subscription trap occurs when a service keeps charging you without making cancellation easy. Companies may:
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Automatically sign you up for recurring payments during checkout
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Hide key details in long terms and conditions
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Require multiple steps or long waits to cancel
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Offer small incentives to discourage you from leaving
These traps often result in unexpected charges and wasted money.
How widespread is the problem?
Subscription traps affect many Australians:
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48% have spent more time than expected trying to cancel a subscription
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1 in 3 have felt pressured to continue using a service they no longer wanted
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75% had a negative experience when attempting to cancel
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1 in 10 simply gave up and kept paying
Practical tips to avoid being trapped
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Check the details before signing up. Look for recurring payments or automatic renewal clauses
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Set a reminder. If you use a free trial, note the end date to avoid being charged
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Consider prepaid or virtual cards. These can give you more control over recurring payments
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Review your statements often. Monitor bank and credit card activity for charges you did not expect
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Stay informed about your rights. Support changes that make subscriptions easier to cancel and more transparent
Conclusion
Automatic renewals can quietly drain your budget if you are not careful. Taking a few minutes to review your subscriptions and cancellation policies can prevent unnecessary costs and give you more control over your finances.
Let the new financial year be your cue to not only review the numbers, but to re-centre yourself, too.
