Subscription fatigue a real thing, says locally-driven national survey

A NATIONAL survey conducted by a Geelong health insurance service provider states Australians, particularly millennials, are facing subscription fatigue.

Frank Health Insurance surveyed Australians to find out how millennials handle monthly subscription payments, with more millennials choosing less subscriptions today compared to previously.

More than half (55 per cent) of respondents are juggling between four to 10 subscriptions each month.

Two-thirds admitted they have subscriptions which they forgot about, and more than half confessed they’ve had “surprise” charges from subscriptions they did not know were there.

“Every time I find an old subscription still hitting my credit card, I get so annoyed. I should have cancelled it ages ago – I’m kicking myself for wasting that money every month,” one respondent said.

The survey found:

• 45 per cent find managing multiple subscriptions extremely overwhelming
• 66 per cent have forgotten about a subscription and realised they were still paying for it
• 56 per cent found managing their private health insurance easy, and
• The top three most challenging life admin tasks were managing finances, completing their taxes and home maintenance.

Frank Health Insurance brand manager Nick Ilievski said having so many subscriptions could take a toll on the wallet.

“It’s no wonder people are rethinking what they actually value.

“By choosing meaningful subscriptions like health insurance, you can look after your long-term health and maybe save some serious cash and time along the way.

“As they say, time and health are priceless.

“We know millennials are all about cutting back to the essentials—fewer subscriptions that actually bring value, simplicity, and peace of mind.”