The quiet money leak most of us don’t notice
You may be like us, we love a good tv series on Netflix, or Prime, or Apple, or TVNZ… we share notes and love to find out about new interesting programmes.
But, I recently read a New Zealand Herald article that made me pause, not because the numbers were shocking, but because they were so… normal.
According to Westpac data, New Zealanders are now spending almost $400 a year on TV streaming subscriptions, with the average household paying about $33 a month, up 20% on last year. One in ten people paying for subscriptions are signed up to three or more services, costing them $70 or more a month. [And that doesn’t even include any Sky or SkySport subscriptions!]
Time for a subscription detox_ …
On the surface, this doesn’t sound dramatic. Netflix, Prime, Neon, Disney+, Apple TV… each one feels modest on its own. But that’s the problem. Subscriptions are designed to feel small, invisible, and easy to forget.
Over the years, I’ve noticed that the biggest leaks in people’s cashflow are rarely the big decisions. They’re not the house, the car, or even the overseas holiday. They’re the things that quietly tick away in the background while we’re busy living our lives.
What’s changed is that subscriptions are no longer just about TV.
They now cover news, music, software, fitness apps, cloud storage, audiobooks, meal planning, meditation, AI tools, and services you signed up for “just to try”.
Massey University’s Claire Matthews put it well in the same article when she said it can feel like everyone wants your money on a recurring basis, and that free trials create a real risk you simply forget to unsubscribe.
This is backed up internationally.
Research from Bango, a global subscription payments platform, shows consumers consistently underestimate how much they spend on subscriptions, often by 30–50%. People think they’re spending “around $80 a month” when the real number is closer to $120–$150.
That gap is pure friction.
It’s money leaving your account without you consciously choosing it. You can read more about that research here: https://www.bango.com/blog/subscription-economy-research/.
What makes subscriptions particularly sneaky is that they don’t trigger the same emotional response as other spending. There’s no “I’m handing over $400 today” moment.
Instead, there’s a drip, drip, drip from your bank account. And because each payment is small, we tolerate it.
Until one day we add it all up and think, hang on… is this really where I want my money going?
This matters far more than just cashflow. Small, recurring expenses compete directly with the things you tell me matter most: flexibility, options, and long-term security.
When we’re working on retirement projections or looking at how much freedom you’ll have later in life, it’s often not about earning more. It’s about being intentional with what’s already coming in.
If you redirected $400 a year consistently over 20 years, even at modest returns, that’s not trivial. And more importantly, it’s a habit shift. Awareness compounds just like money does.
I’m not anti-subscriptions. As well as the TV ones, I have a number of news subscribtions. Some add genuine value.
The question is not “should I cancel everything?” but “would I actively sign up for this again today?” If the answer is no, that’s a signal.
Westpac’s advice in the article was simple and sensible: look at your bank statements and credit card transactions and see what’s actually going out.
I’d add one more step. Do it with curiosity, not guilt.
This isn’t about beating yourself up. It’s about taking back a bit of control in a world that makes spending frictionless and forgetting very easy.
Money should support your life, not quietly drain it in the background. And sometimes, the smartest financial decisions are the boring, unglamorous ones you make on a Tuesday afternoon with a cup of tea and your bank app open.
If you do want to get a handle on this, it doesn’t need to be complicated. Pick a quiet moment and look back over the last three months of bank and credit card statements. Circle or highlight anything that repeats monthly or annually.
Streaming services are obvious, but also look for news subscriptions, apps, cloud storage, software, fitness platforms, and “free trials” that quietly rolled over into paid plans.
Then ask three simple questions: do I still use this, does it genuinely add value to my life, and would I sign up for it again today at this price. If the answer is no, pause it, cancel it, or set a reminder to review it again in six months.
Many subscriptions can be restarted easily, so cancelling isn’t a permanent decision. It’s just a way of turning the tap off for a while. Small, regular reviews like this are one of the simplest ways to stop money drifting away without you noticing.
