Tuesday 8 October 2024
Let’s face it—subscription fatigue is real, and it's got Aussies feeling a bit fed up, stressed out, and exhausted from managing a zillion different services.
More and more millennials are embracing the “less is more” vibe and looking for ways to simplify their lives. To dig a little deeper into subscription fatigue, Frank Health Insurance surveyed Aussies to find out how millennials are handling all these monthly payments.
The results? Over half (55%) are juggling between 4 to 10 subscriptions each month! And they’re doing it with everything from mental notes to spreadsheets to random bank transactions—no wonder things are slipping through the cracks! In fact, two-thirds admitted they have subscriptions they totally forgot about, and more than half confessed they’ve had "surprise" charges for stuff they’re not even using anymore.
One millennial summed it up perfectly: “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!”
Nick Ilievski, the Brand Manager at Frank Health Insurance, gets it.
“With so many subscriptions stacking up, it can really take a toll on your 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,” says Nick. “We know millennials are all about cutting back to the essentials—fewer subscriptions that actually bring value, simplicity, and peace of mind.”
Frank Health Insurance is right up that alley—affordable, convenient, and easy. Choose your cover, from hospital to extras, or both, and manage your payment frequency however you like—weekly, fortnightly, monthly, quarterly, half-yearly, or even annually. No more guessing games!
Frank also offers a slick online experience, a user-friendly app, and a local call centre that’s all about personalised support. “Basically, it’s a subscription you’ll actually want to keep,” Nick added.
We crunched the numbers:
- 45% of people surveyed find managing multiple subscriptions extremely overwhelming.
- 66% of people surveyed have forgotten about a subscription and realised they were still paying for it.
- 56% of people surveyed said they found managing their private health insurance easy.
- The top three life admin tasks respondents find most challenging were: managing finances, completing their taxes and home maintenance.
Learn more: www.frankhealthsinurance.com.au
About us:
About Frank Health Insurance
Frank has been providing members with simple, easy to understand health insurance since 2009.
As a not-for-profit online health fund, delivering affordable health cover and great customer service is what Frank does best. Premiums are invested into providing better service and products, rather than shareholders. We offer convenience through our online experience, but we’re also just a phone call away if you need us. Our friendly customer service team is based locally in Victoria.
Frank is on a mission to offer easy to understand health insurance products. We give our members access to a range of partnerships designed to help you look after yourself and make your cover affordable and pain free.
Contact details:
State-based data break down available upon request.
GMHBA Head of Corporate Communications Meg Rayner: 0458 418 823 or [email protected]