The Subscription Audit: How Cancelling Services Boosts Your Savings

Saving for a home in Australia can feel like a huge task. Rising living costs make it harder to put money aside each week. But many people are losing money without noticing it. The problem is unused or forgotten subscriptions.

Streaming services. Apps. Delivery memberships. Extra data plans. Gym access you rarely use. It all adds up.

A subscription audit can help you take control. It shows where your money goes every month. Then you can redirect that cash towards your home deposit or your off the plan saving goals.

What is a subscription audit

A subscription audit means reviewing everything you pay for on a recurring basis. You check:

• What services you have
• How much each one costs
• Whether you still use them
• Which ones can be cancelled

It is simple. It is quick. It can make a big difference.

Why subscriptions are easy to forget

Many services use automatic payments. They renew monthly or yearly without a reminder. You barely notice them:

• Free trials roll into paid plans
• Discounts expire
• Small charges hide in your bank statement

Businesses love subscriptions because they make steady profits. A subscription audit stops that money leaking out of your budget.

How much you could save each year

Even removing a few unused subscriptions can boost your savings.

Example:

• Streaming platform $20 per month
• Food delivery membership $10 per month
• Unused app $5 per month

Total: $35 per monthYearly saving: $420In three years: $1,260 saved for your property deposit

Many Australians pay for 5 to 10 subscriptions. When you remove the ones you do not use, the savings can be much larger.

Steps to run a subscription audit

Step 1: Check your bank and card history

Look back at the last 3 months. Write down every repeated charge.

Step 2: Group them into categories

• Entertainment
• Lifestyle and fitness
• Apps and online tools
• Shopping and delivery memberships
• Banking and financial services

Step 3: Decide what stays

Ask yourself:

• Did I use this in the last 30 days?
• Does it improve my life?
• Is there a cheaper version?

Step 4: Cancel the rest

Do not delay. Hit cancel today. Every month counts when you are saving for a home.

Better habits to grow savings faster

Here are simple rules to follow after your audit:

• Only subscribe to what you use often
• Avoid free trials unless you set a reminder to cancel
• Review your subscriptions every 3 to 6 months
• Put the money saved directly into your home deposit account

Even $10 a week becomes more than $500 a year. That money should support your future, not forgotten services.

Coposit helps you use those savings wisely

If you are saving for a property off the plan, Coposit gives you a faster path into the market. You can secure a new home with just $10k upfront. Then you make weekly instalments while the building is completed.

Imagine this: Money saved from cancelled subscriptions goes straight into your weekly Coposit instalments. You build equity instead of paying for something you never use. A small change becomes a major win.

More ways to boost your deposit

• Pack your own lunch two days a week
• Switch to a high interest savings account
• Review your insurance and phone plan once a year
• Sell items you do not use anymore

Tiny financial improvements compound over time. They help you move closer to owning a home.

Make your money work for your future

The subscription audit is a powerful first step. You take control of your spending. You save money without changing your lifestyle much. This helps first home buyers reach their deposit goals sooner.

Property ownership starts with good habits. Cancel what you do not need. Keep what matters. Turn your everyday savings into progress towards your home.