Four in ten of us have subscribed for something and are still paying for it, even though we’re not using it. Any idea which the most underused subscription is? You guessed it. Gym membership, with more than 55% of people who have signed up not using this membership as much as much as they’d like.

Money paid to subscriptions, if left unchecked, can add up quickly. Even a small deduction every month can turn into a substantial sum that. So here are:

Four simple steps can help you subtract your subscriptions:

Find the subscriptions
Yes, you may be paying for some you don’t even know about or have forgotten about. You can trawl through your bank statements or (ahem) just use 22seven, where all your transactions, from all your accounts, from whenever you signed, are in one place. And searchable. You may pick up subscriptions (or other expenses) that you feel you’re not using or getting value out of. Most of these will probably be categorised as Recurring expenses, but you may also find a few in your Day-to-day expenses and even in Exceptions – check for any auto-renewal payments that are deducted as once-off amounts.

See what you’re spending on unused subscriptions
How much money you would save by cancelling or reducing a subscription like your gym membership, DSTV, magazines, gaming or even live streaming services? Is there something else you’d rather do with that money?

Determine when your subscriptions expire
All subscriptions have renewal dates. Cancelling a subscription outside of that date is often either difficult, costly or both. Rather, make a note of when the subscription is due for renewal and then cancel the annual contract. Read the small print, but to be safe, informing of your intention to cancel should be done at least 5 weeks prior to the actual date. That should comfortably put you within the standard 30-day cancellation window.

Discontinue what you do not need
Really, it is simple. If you don’t use it, don’t pay for it. Subscription offerings are created to tie you in for the long haul, so they often are not easy to get out of, but don’t give up, it is worth the money you will be saving. If you decide to cancel a subscription with immediate effect you may actually qualify for a refund, so be sure to enquire. Alternatively, in the case of a service like DSTV that offers a bouquet of package choices, it could be an option to just reduce the package you are on. Or, in the case of your internet connection you could decide to go for capped rather than uncapped.

There will be some subscriptions that you are paying for that you like and want to keep, but even these may be worth giving a once-over: gym membership, home entertainment, reading material, telephone land-lines can all be important but you might be able to use them better, or get better value out of them.

The point is to save money that you may unnecessarily or unwittingly be spending on something that you don’t need, or don’t want.