In a world full of subscriptions—streaming services, fitness apps, meal kits—it’s easy to lose track of where your money is going. But what if cancelling just one unused subscription could give your savings a healthy boost? Whether you're saving for your first home, planning to refinance, or working with a mortgage broker to explore your lending options, every dollar counts.

Why It Matters

Subscriptions are often set-and-forget expenses. You sign up, use them for a while, and then they quietly chip away at your bank account month after month. That $15 or $30 per month might not seem like much—but over a year, it adds up to $180 or more. Redirecting that money into savings can fast-track your borrowing goals, especially if you're preparing to apply for home loans.

Step 1: Audit Your Subscriptions

Take five minutes to check your bank statement or app store history. Identify subscriptions you no longer use or rarely touch. Common culprits include:

• Streaming platforms you’ve forgotten about
• Premium versions of free apps
• Online fitness programs you don’t use
• Digital magazines or newspapers

Step 2: Cancel One (or More)

Choose just one to start with. The idea isn’t to strip away all your enjoyment—it’s to become more intentional with your spending.

Step 3: Redirect the Savings

Now, here’s the trick: Don’t let that money disappear into everyday spending. Set up an automatic transfer for the same amount into a dedicated savings account. This could be your home deposit fund, emergency savings, or even a mortgage offset account to reduce interest if you're already paying off a home loan.

Real Impact Over Time

Let’s say you cancel a $25/month subscription and save that amount consistently:

• 1 Year: $300 saved
• 3 Years: $900 saved
• 5 Years: $1,500 saved

Final Thoughts

Building wealth and improving your financial health doesn’t always require drastic changes. Sometimes, it's the simple things—like cancelling a single subscription—that can make a big difference.