FILE - Two people use an iPhone at a shopping mall in Yantai, East China's Shandong province, on March 26, 2022. (Photo credit: Costfoto/Future Publishing via Getty Images) From streaming to beauty boxes to food, there are many monthly subscription services available — and recent research suggests that you may be paying for more than you realize.More than half (54%) of consumers underestimated their monthly spending on subscriptions by at least $100, according to a survey by market research firm C+R Research.
Twenty-four percent underestimated by $200 or more. The survey included 1,000 U.S. adults and was evenly split among Gen Z, Millennial, Gen X, and Baby Boomer age ranges.
It asked people to think generally about the number of subscription services they use, and in 10 seconds, estimate how much they spend per month.
Later, they were given more time to individually calculate their monthly subscription costs. On average, people misjudged their subscription costs by $133, which is nearly $1,600 a year, according to the survey.