Subscription Trap: Are You Paying For Services You Forgot About? Tips To Avoid This

Subscription services have become a vital part of daily life for many individuals. From subscribing to different OTT platforms for a daily dose of entertainment to choosing a paid plan to get discounts on food delivery, most people are spending a chunk of their salary on these services.

However, it is not easy to exit these services and platforms. Several conditions might make it difficult for subscribers to end their plans.

Most platforms offer a trial period to users, deducting payment if the account has not been cancelled by the end of this period (usually one or two weeks). However, many people sign up for trial periods and then forget about cancelling their accounts, leading to money being deducted at regular intervals from their accounts. Often, the process to cancel is complicated, leading to users falling into a ‘subscription trap.’ This means they end up paying for services that they do not use.

A study by community platform LocalCircles in March highlighted that out of the 228 platforms surveyed by them, 78 of them used subscription traps. These traps are one of the dark patterns or deceptive practices that manipulate users into making decisions they might not go in for in regular circumstances.

If you are paying for subscriptions you do not use, it is prudent to cancel them and save money. There are some ways to figure out which services or platforms you are paying for that you might have forgotten about.

Look at bank statements: This will help you take stock of how much you are spending on subscriptions and how you can budget it.

Use one dedicated account for payments: This will make it easy for you to track your finances and cancel any plans you do not want.

Set reminders: If you have opted for a free trial, set a reminder before the period is over to end the subscription if it is not up to your specifications.

Read the rules carefully: It can be more difficult to cancel some services than others. Always look at the rules and regulations before signing up for a service.

Check for price hikes: When it is time to renew your subscriptions, consider if there has been a price hike in the plans. Alternatively, you can go for a lower-priced plan that is better suited to your needs and your budget.