From unused subscriptions to unclaimed refunds, everyday money leaks are quietly costing households hundreds
There’s a good chance you’re losing money right now without realising it — and it could easily add up to £500 a year.
At MoneyMagpie, we see the same pattern again and again: people aren’t overspending, they’re simply leaking money in places they don’t think to check.
Households overpay on bills by failing to switch, millions in refunds go unclaimed each year, and subscription spending alone now runs into the hundreds per person annually.
Add it together, and it’s easy to see how the losses stack up.
Subscriptions you’ve forgotten about
Streaming services, apps and free trials can quietly roll into paid plans — and many people underestimate how many they’re paying for.
Do this now:
- Check your bank for repeat payments
- Search your inbox for “subscription” or “trial”
- Cancel anything unused
Potential saving: up to £300 a year
Refunds you never claimed
Train delays, cancelled flights and events that didn’t go ahead can all be claimed for — but millions of pounds goes unclaimed every year.
Do this now:
Potential saving: £50–£200 a year
Energy credit sitting untouched
Many households are in credit with their supplier, particularly after winter — but refunds aren’t always automatic.
Do this now:
- Check your latest statement
- Look for credit balances
- Request a refund if it’s more than you need
Potential saving: £50–£200
The loyalty penalty on bills
Stick with the same insurer or broadband provider and you’ll often end up paying more than new customers.
Do this now:
- Never auto-renew without checking
- Compare prices before renewal
- Ask your provider to match better deals
Potential saving: £100–£300 a year
Memberships you don’t use
Gym memberships and premium services are easy to forget — but the payments keep going.
Do this now:
- List everything you pay monthly for
- Be honest about what you actually use
- Cancel or downgrade the rest
Potential saving: £100–£400 a year
Cashback and rewards left behind
From bank perks to cashback sites, there’s often money sitting there unclaimed.
Do this now:
- Log into cashback accounts
- Withdraw any balances
- Check bank reward schemes
Potential gain: £20–£100 a year
Overspending on the weekly shop
Small habits make a big difference. Switching supermarkets or going own-brand can cut costs quickly.
At MoneyMagpie, we regularly see readers save £20 a week just from simple changes.
Do this now:
- Check price per unit
- Swap branded for own-brand
- Try a cheaper supermarket for one shop
Potential saving: £250–£1,000 a year
Unused gift cards and vouchers
Hundreds of millions in vouchers go unspent every year — and most people have at least one lying around.
Do this now:
- Check emails and drawers
- Use them before expiry
- Don’t put it off
Potential saving: £10–£100
Savings earning nothing
Leaving money in a current account means missing out on interest — especially now.
Do this now:
- Check your current rate
- Move money to a better savings account or ISA
- Review regularly
Potential gain: £50–£200+ a year
The bottom line
At MoneyMagpie, these are the exact areas we see costing readers the most — week in, week out.
Fix just a few of them and you could be hundreds of pounds better off this year without changing your lifestyle.
Quick check: do this today
- Cancel unused subscriptions
- Claim any refunds owed
- Check your energy balance
- Review your bills before renewal
- Cut unused memberships
- Withdraw cashback
- Shop smarter
- Use vouchers
- Move your savings
If you want more ways to save, earn and make your money go further, sign up to the free MoneyMagpie newsletter.
