What is Subscription Management?
Definition
The ongoing process of tracking, optimizing, and controlling all active subscriptions to ensure maximum value and minimum waste.
Understanding Subscription Management
Subscription management has become a necessary life skill as the average person juggles 12+ subscriptions. It encompasses knowing what you are subscribed to, how much each costs, when renewals occur, and whether each subscription is worth keeping. Good subscription management practices include: maintaining a central list of all subscriptions, setting renewal reminders, conducting quarterly audits, tracking spending trends, and negotiating better rates.
Tools like TrackMySubscriptions automate much of this process, providing dashboards, alerts, and analytics to help you stay in control of recurring expenses.
Related Terms
Subscription Tracker
A tool or application that helps users monitor, manage, and optimize all their active subscriptions in one centralized dashboard.
Subscription Audit
A systematic review of all active subscriptions to evaluate their value, identify unused services, and optimize spending.
Subscription Savings
The money saved by optimizing subscriptions through cancelling unused services, downgrading plans, switching to annual billing, or using bundles.
Budgeting
The process of creating a plan for how to allocate income, including accounting for recurring subscription expenses.