Here Is How Much Money You Can Save Yourself by Checking Your Finances Every Day
A new MoneyLion survey that polled 998 adults about their financial habits uncovered some good news.
More than one in three respondents reports checking their bank and credit card accounts every day, with nearly four in 10 examining their financial statements at least once a week. Nearly one in five people check in monthly. In fact, only a single-digit slice of those surveyed check it just a few times a year, only when they get an alert or never at all.
That small minority should pay closer attention, because tuning out can be expensive and monitoring your accounts regularly can save you real money, as the majority wisely knows.
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The Price of Not Paying Attention
Many experts suggest not obsessing over your investments to avoid emotional decisions like panic selling, but that advice does not apply to your bank accounts, credit cards and credit report.
Provided they take action on what they learn through close account monitoring, ordinary people can save hundreds or even thousands of dollars per year, depending on their account types, habits, spending and lifestyle.
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Identifying Budget Leaks and Overspending
According to Deloitte’s 19th annual Digital Media Trends study, the average household spends $69 per month ($828 annually) on just four streaming services and $125 per month ($1,500 annually) for cable or satellite TV for a combined $2,328 per year.
The study noted that both traditional media and streaming platforms are constantly raising prices, so that dollar amount might shock those who don’t regularly audit their financial statements. Those who do, on the other hand, will notice the gradual uptick, eliminate lesser-used services, shop for better prices or compensate by cutting spending elsewhere.
That’s just one example.
Depending on your tendencies, the same principle could apply to takeout food, restaurant spending, nightlife, rideshare services, that morning latte or whatever category’s gravity pulls you toward excessive spending.
Hidden Fees
According to CNBC, bank fees climbed to a record-high average of $13.51 per month in 2026 or $162 per year. Some of those fees are hidden or can be waived through balance minimums and other conditions.
Those who keep tabs on their accounts will notice those fees, dispute them, meet the conditions to avoid them or move their money to a fee-free competitor bank.
Those who don’t will miss the slow, steady drip and forfeit funds they could have saved or used to pay down debt — and banks are just one culprit for sneaky fees. Looking over your statements can alert you to recurring charges for services you might not even be using.
Forgotten or Unused Subscriptions
According to Self Financial, the average household spends $10.57 on unused subscriptions or about $127 per year. A CNET study puts the number closer to $200 annually.
Either way, the same concept applies.
The person who takes the time to tune into their finances will see recurring bills for forgotten subscriptions or those that went live after a free trial lapsed and cancel them to stop the bleeding. The person who tunes out will never know and let months or years go by, paying for services they never use.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal, or tax advice.
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