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Thanks For Taking My Money...Now What Was That For?

by Steven Wagenheim
10 replies
Just got an email from a customer who was paying me a monthly subscription
for a while now. He wrote to tell me that he just discovered that he was
paying me $X per month, had no idea what it was for and had just canceled.

Today, I went through all my subscriptions to make sure I wasn't also paying
for something I wasn't using.

After you've been in this business a while, you do accumulate subscriptions
and unless you have a steel trap mind, you're bound to forget one or two,
especially if you have a lot.

So, what you might want to do is keep a spreadsheet of all your subscriptions.

Check it once each month to make sure that you need everything that
you're paying for. You may find that you can save some money each
month by canceling things that you're not using.

So, how many of you are paying for stuff and you have no idea what it's
for or even that you're paying for it?

Now might be the time to find out.
#moneynow #taking
  • Profile picture of the author Diana Lane
    Daft question, but how are the people who are forgetting their subscriptions keeping their accounts up to date without noticing them every time they update their records?! I thought I was disorganized
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  • Profile picture of the author desilo
    Yes I got suckered once. But once I got my credit card bill, I was like what's this charge? I was paying for something that I wasn't even benefiting from. I quickly put an end to that!
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  • Profile picture of the author Norma Holt
    I try to only have subscriptions through Paypal and they notify you every time a payment is made. have to say thought that because people trade in different names often to the subscribed name it can be very confusing. Recently I had to ask a couple of people what the subscriptions were for. So it is not just a case of accounting.

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    • Profile picture of the author RobinSkeen
      Definitely do it through Paypal. I learned that lesson only recently. It was only a $10 a month subscription (Clickbank on a credit card) but I couldn't believe myself when I figured out what I had been paying for and never used. For 14 months. Lesson learned.
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  • Profile picture of the author cmbwealth
    I check fairly often, and do follow up if I'm not sure what it is for. Haven't had any that I forgot about yet. But I noticed that two of them look very similar for tha name they use to bill, and could see how I could overlook them in the future.
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  • Profile picture of the author Hhhhhh
    Yes, totally agree, keep a tab on your subscriptions and hey with the money you save hire yourself a really good book keeper to save you even more money and the best part is you won't have to spend time doing the boring book work and it will always be up to date.

    I discovered I had been living next door to the best book keeper ever, what a saviour.
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  • Profile picture of the author GuruGazette
    I keep track of mine for two reasons:

    1. Cash flow management

    2. Tax reporting
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  • Profile picture of the author Justin1
    Yeh so easy to do, got stung by google cash detective double (300 bucks in my currency) for their other "stupid" add on prodcut that chris sneakily put in there, no wonder hes living in some freaking island on the beach! I must say his support staff were nice though and cancelled it for me after going one day over the trial thing.
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  • Profile picture of the author greff
    If you only pay using Pay Pal the solution is very easy.

    Just do a search in "History" for at least one month (you can search for at least a year, maybe more).

    Then go to the drop down box next to "Show" and highlight "Subscriptions"

    You will be shown all subscription activity for that period of time.

    I would be very hard pressed to buy an info product without using Pay Pal because it is so easy to track and cancel. When someone does not offer the Pay Pal option to pay, then I get suspicious. Perhaps he has a good reason or perhaps he just wants to make you jump through more hoops to cancel the subscription.
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    • Profile picture of the author Justin1
      Originally Posted by greff View Post

      If you only pay using Pay Pal the solution is very easy.

      Just do a search in "History" for at least one month (you can search for at least a year, maybe more).

      Then go to the drop down box next to "Show" and highlight "Subscriptions"

      You will be shown all subscription activity for that period of time.

      I would be very hard pressed to buy an info product without using Pay Pal because it is so easy to track and cancel. When someone does not offer the Pay Pal option to pay, then I get suspicious. Perhaps he has a good reason or perhaps he just wants to make you jump through more hoops to cancel the subscription.
      Yeh but bigger operators like filsaime, kern etc etc. dont use paypal they have their own merchant accounts, I do get your drift though and paypal is nice for tracking stuff down.....
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  • Profile picture of the author DonDavis
    I can't see why this would be a problem. If it is a PayPal subscription, they send you an email every time you make a subscription payment.

    If it is a credit card based subscription payment then it's on your itemized bill.

    If you are missing stuff like this then it's time to get a tighter grip on your business affairs.
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