Benefits of Subscription Tracking Apps
Subscription tracking apps allow you to organize and schedule subscription payments. Find out more about the top subscription tracking apps.
The number of subscription services is on the rise, with most households having at least two recurring subscription services. There are many different types of subscription services, all with a wide range of fees. Streaming services are some of the most popular, but there are also services for meal plans, software and gift-based services. Most subscription services charge a small fee, but these expenses can quickly add up, especially if you are not staying on top of all the services.
Another potential complication is when services use different charges. In many cases, you receive a discounted price for the first few months, in some cases even a year, before paying the normal price. Other services offer free trials, but you automatically begin your payment plan once the trial ends. Some subscription services also charge at different periods, such as monthly or yearly. With so much information to track, it is easy to get caught off guard by how much you spend each year on subscriptions. One of the ways you can manage your spending is through a subscription tracking app.
What to Look for in a Subscription Tracking App
A good subscription tracker does more than inform you what services you are provided for. Subscription tracking apps also act as a universal hub for your expenses. Many apps set alerts several days before a payment is due. The alert not only reminds you about the upcoming payment, but it also contains payment information. If you want to cancel the subscription, you can do so directly from the app. You can also change your payment methods, putting it under a different card or account.
Other subscription tracking apps also allow you to subscribe to new services. This not only allows you to automatically update your account, but the app will track any deals or promotions to help you save money.
Mint
Mint is one of the newest subscription tracking apps. Unlike other services, it is primarily advertised as a bill tracker, but there are also options to keep track of other payments, including subscriptions. Mint keeps track of all your payment methods and through the negotiation feature will make recommendations on how you can consolidate your payments. It will also track how often you use subscription services and make recommendations to cancel potentially forgotten services you are still paying for. A free version is available with limited services, while a premium account costs $4.99 each month.
PocketGuard
PocketGuard is a budgeting app that allows you to keep track of subscription services. It can automatically sync up with whatever bank accounts or credit cards you store on your account. The app features a number of other services, including an option to calculate how much you have in your account for everyday spending based on your monthly bills and subscription fees. PocketGuard also allows you to change payment plans directly from the app. It also makes recommendations on which subscriptions to cancel if you are trying to save money.
A free version is available, which includes all of the tracking options. For more advanced budgeting options, you must upgrade to a free account, which costs $34.99 each year.
BillBot
BillBot is a stand out app because it focuses entirely on subscription services and no other types of payments. It contains a list of subscription categories to choose from. You can mark which services you already use, as well as look for services you want to subscribe to. The app will keep track of whatever deals and specials are offered, so you can wait until a promotion period to apply for another subscription. Another useful feature is the ability to make multiple user profiles. Another reason BillBot is popular is that all the features are available for free.
Recur
As of writing, Recur is only available for iPhone users. All of the features are available for free, but there is a paid option available which provides more customization options. Even without a paid version, Recur allows you to create a user profile and set individual alerts for each of your subscriptions. Users will commonly sign up for free trials, then set a Recur warning before the payment plan begins, allowing them to cancel without committing to paying for the first month. You can also track your total fees based on monthly or yearly payments.
Bobby
Bobby is another app only available for the iPhone. If you are not comfortable entering your bank account into an app, Bobby allows you to manually input all of your subscription services and how much you pay, without providing any personal details. It also contains most of the common subscription services, so you can just mark which one you are subscribed to and your plan and the app will send alerts notifying you of payments.
If you are comfortable entering your payment information, you can use the app directly to make payments. If you purchase the security pack, which only costs $0.99 cents, you can add Face ID and set up the app to work with iCloud Sync. The app itself is normally free, but there are a few additional packages that provide new features. The full version is available for a single payment of $2.99.
Trim
Trim is a general budgeting app that focuses on saving you money and reducing your monthly spending. Part of that process involves tracking your subscription services. In order to use Trim, you must link your bank account or credit cards to the app. Trim will keep track of all your scheduled payments, tracking how much you pay each month and sending alerts several days before a payment date, giving you the option to cancel payments.
Trim has an extensive user interface. One of the unique options is the ability to ask questions and generate reports on your spending, such as how much you spend on streaming services each year versus other subscription services. The most unique factor is Trim’s bill negotiation, which allows you to renegotiate payment plans with partnered providers. Trim is partnered with several of the biggest companies, including Comcast, Time Warner and Verizon.
If you only want a subscription tracking app, Trim might be too much. All the additional features raise the cost, costing $99. However, most users report saving an average of $600 after their first month with the app.
