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Unused subscriptions and forgotten outgoings could cost each Aussie up to $1,261 a year

Published on 30/01/2023

Small spending changes are set to create big savings for the year ahead.

New research commissioned by ING Australia reveals that savvy Aussies could save an average of $1,261 a year[1] by cutting back on subscriptions and other regular outgoings they have forgotten about or don’t use, as more than half of them (55%) are planning a financial spring clean in 2023.[2]

The top non-essential outgoings that Aussies plan to curb include entertainment subscriptions (45%), gym memberships (15%) and fitness apps (12%) – making cost savings that could amount to over $8 billion across the country.[3]

Matt Bowen, Head of Daily Banking at ING Australia, said:

“It’s positive to see that many financially savvy Aussies are looking to cleanse their bank accounts this year.”

“These findings show that small changes like cancelling an unused subscription or monitoring for non-essential outgoings, can make big savings when Aussies need it most. Creating reminders on your phone or setting up bank account notifications are quick wins for keeping on top of your spending and saving those all-important dollars for the year ahead.”

Research found that a quarter (25%) of Aussies who have scheduled outgoing monthly payments, such as subscription services and utility bills, admit they’re not across them all, and two in five (39%) say they have scheduled payments that they have forgotten about, or for services they don’t use.

The need for a new year spending check is timely with Aussies taking nine months on average to cancel scheduled payments for unused services – a delay which is costing them $964 on average[4].

Additional research findings for those that have outgoing monthly payments:

  • Sharing is caring: The nation’s caring nature shines through as the research suggests that 2 million Aussies choose to use their joint accounts to split bills, including insurance bills (50%), phone/internet bills (46%), utility bills (46%) and entertainment subscriptions (40%). It’s also reported that 28% of those who have scheduled outgoing payments they have forgotten about/ are no longer using pay for outgoing costs/subscriptions their friends or family use, even when they don’t use them themselves.
  • Aussies are delving into their savings: When it comes to money management, more than half (54%) of Aussies use their everyday accounts to pay for those all-important outgoing costs and bills whilst over two in five (43%) use their savings accounts.
  • Priorities are going digital: Interestingly, Aussies who plan to cut back on scheduled outgoing payments in 2023 are more likely to cut back on their gym memberships (15%) over their image editing and filter apps (10%).
  • It’s a generational thing: Of those that are likely to cut back on costs, Gen Z are most likely to offload entertainment and gaming subscriptions (63%) compared to their older counterparts (Baby Boomers 40%, Gen X 41%, and Millennials 47%).
  • Reminders, reminders, reminders: A large portion of Aussies attempt to keep on top of their scheduled outgoings by receiving email notifications (47%), setting reminders on their phone (27%), and writing them down in their diaries (21%), whilst 11% rely on their friends and family to remind them.
  • Aussies are still spending on new subscriptions: Nearly six in 10 (56%) Aussies with outgoing payments continue to sign up to new subscriptions, spending an additional $48 per month on average in 2022.


Notes to editors

Research was undertaken by YouGov in December 2022. Total sample size was 1,075. The figures are representative of Australians aged 18 years and older.

For more information contact:

  • Harriet Potter on 0439 031 072 or
  • Megan Landauro on 0413 317 225 or


About ING

ING changed the way Australians bank 22 years ago by launching the country’s first branchless bank. ING now offers Australians home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services. ING is Australia’s most recommended bank according to RFI Global’s XPRT Survey, June 2022 – November 2022 (n = 31,976) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution (MFI) with 6% of market share according to RFI Global’s XPRT Survey, June 2022 – November 2022 (n = 31,976). MFI is defined as the bank that the consumer says is their main financial institution.


[1] Based on Aussies spending an average of $105 a month on scheduled outgoing payments that they have either forgotten about or for services they don’t use, and multiplying this for 12 months to reach the annual amount.

[2] Based on 58% of Aussies who say they have at least one outgoing cost per month and are planning a financial spring clean, rebased for the 95% of Aussies who say they have at least one outgoing cost per month.

[3] Based on $1,261 multiplied by the Australian adult population equivalent that have scheduled outgoing payments that they have forgotten about or for services they don’t use (6,365,440).

[4] Based on Aussies spending an average of $105 a month on scheduled outgoing payments that they have either forgotten about or are for services they don’t use, and multiplied by the 9 months that Aussies keep unused scheduled outgoing payments on average.

Media Enquiries

Megan Landauro
ING Public Relations Lead
0413 317 225

Peter Gurney
Head of Stakeholder Relations
0417 633 467

60 Margaret Street
Sydney NSW 2000

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