Costa Mesa, Calif., Jan. 29, 2024 – With the holiday season in the rearview mirror, many consumers are assessing their finances and making money moves to reach their financial goals. Saving money in 2024 is the top resolution for 51 percent of respondents[i], according to an Experian national consumer survey. As part of its continuing innovation to meet the financial needs of consumers, Experian has launched a free savings scan[ii] that identifies opportunities to save on eligible recurring bills and paid subscriptions.
A savvy way to slash costs
To run their Experian savings scan, consumers must be enrolled in a free or paid Experian membership and connect their bank and credit card accounts so that Experian can identify eligible bill payments and paid subscriptions. The feature presents potential savings opportunities to Experian members in minutes.
In addition to the benefit of seeing possible cost-savings with the savings scan, Experian free and paid members gain access to many other financial resources including the Experian Boost®[iii] feature, an auto insurance shopping service, credit card marketplace, credit education, and more.
If consumers would like to take advantage of securing the potential savings hassle-free, they will need to be enrolled in an eligible paid Premium membership, and Experian experts will handle negotiating lower costs with eligible providers. Experian will also cancel unwanted subscriptions, which are often-overlooked as 42 percent[iv] of consumers say they forget how much they shell out for subscriptions they don’t use.
“There are many ways to find cost savings including assessing recurring bills and securing better terms and rates. With the free savings scan, we have created a convenient way for consumers to understand where they can potentially lower their bills and keep tabs on paid subscriptions,” said Rod Griffin, senior director of Public Education and Advocacy. "Cutting expenses opens up possibilities for enhancing your financial health whether it's allocating your budget to pay down debt - crucial for healthy credit scores - or setting aside funds for unexpected expenses and emergencies."
Now more than ever consumers are looking for ways to maximize their dollars. In fact, the Experian survey found that saving money earned the top spot as a New Year’s goal for the first time in five years, while a third of respondents aim to create a budget and 27 percent want to pay off a credit card entirely. To learn more about the free savings scan, go to https://www.experian.com/lp/savings/ or download the Experian app found on Apple and Google Play.
Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 22,000 people operating across 32 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.
Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.
[i] Experian consumer survey, November 2023
[ii]Results will vary. Savings scan estimates potential savings based on past negotiations with 40+ providers or by canceling 200+ subscriptions and may not find all savings. Est. savings are not guaranteed, and some may not see savings. Negotiation/cancellation services available with eligible paid memberships. See experian.com for details. @2024 Experian.
[iii] Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost®. Learn more.
[iv] Subscription Service Statistics and Costs, C&R Research, May 18, 2022