Personal finance expert warns: Beware of “subscription creep”

Millions of consumers are struggling to keep track of their contracts and subscriptions, potentially costing themselves hundreds of pounds a year, according to research from Community Fibre.

To help households regain control of their spending, Community Fibre teamed up with TV presenter and personal finance expert Peter Komolafe to create a set of practical tips designed to tackle "subscription creep" - the gradual build-up of contracts, subscriptions and recurring payments that quietly drain household budgets.

The advice comes after a survey of 2,000 UK adults revealed that consumers believe poor-value deals are costing them an average of £576 every year, while more than a third (38%) say they are currently tied into an agreement they don't think represents good value for money. The research also found that 26% are actively trying to find cheaper deals across most or all of their contracts.

Despite this, consumers admit they are often unaware of how much they are spending. The average person now has seven contracts or subscriptions, while nearly two-thirds say they don't know exactly how much those commitments cost each month.

In response to growing demand for flexibility and transparency, Community Fibre now offers its Unlimited UK eSIM with unlimited data, calls and texts on a renewing monthly contract from £15 per month for existing broadband customers and £17 per month for non-broadband customers. For those travelling abroad, Community Fibre's Travel eSIM also provides connectivity in more than 160 countries from as little as £2.29.

Peter Komolafe said: "Many people are unknowingly spending more because they simply haven't reviewed their contracts in a long time, which can lead to subscription creep. When you've got multiple things leaving your account every month, it's easy to lose sight of what you're paying and whether you're getting value for money.

"Many people are actively looking for better deals, but don't know where to start. The good news is that a few simple habits can help identify waste, reduce spending and make sure they’re only paying for services that work for them."

Peter Komolafe's Five Tips for Managing Subscriptions

1. Conduct a value review

   Regularly review your contracts and subscriptions to check whether you're still getting value compared with what's available elsewhere.

2. Use the 4-for-2 rule

   If you've used a non-essential subscription four times or fewer during the last two months, cancel it and see whether you miss it. You can always reactivate it later.

3. Don't lose out to loyalty

   Long-standing customers aren't always getting the best deal. Compare alternatives regularly and don't assume staying put will save you money.

4. Check what works for you

   Ask yourself whether long-term contracts still suit your needs or whether a more flexible monthly option would offer better value.

5. Fix up your finances

   Look for providers that offer transparent pricing with no hidden costs so you can accurately budget and avoid unexpected increases.

Mobile and Broadband Savings Opportunities

The findings suggest mobile phone contracts could be one area where consumers are most willing to switch. More than a quarter (27%) want to move to a cheaper phone contract, while 15% are actively seeking shorter and more flexible alternatives.

Combining mobile deals with broadband can also offer greater savings. Analysis by Community Fibre found that customers purchasing its broadband and Unlimited UK eSIM together can save £360 over 24 months compared with Virgin Media's equivalent broadband and mobile offering. Community Fibre's mobile-only customers can save £607 over 24 months compared with O2's equivalent unlimited SIM-only offer.

Community Fibre also boasts the capital’s fastest and best full fibre network, with packages from 35 Mbps to 5 Gbps Premium WiFi. The unbeatable speeds available are up to 72 times faster than the national average download speed and 271 times faster than the national average upload speed.

To find out more about Community Fibre’s eSIM and broadband offers, head to Community Fibre or speak with a member of the team on 0808 196 6262 (Monday to Friday, 9am-8pm, weekends and bank holidays, 9am-5pm).