When set-and-forget convenience starts costing you (August 2026)

Have you ever received a renewal notice, noticed the price had gone up and simply paid it? According to the Australian Securities and Investments Commission (ASIC), many Australians do exactly that, particularly with car insurance.

ASIC recently reported that many consumers don’t understand why their insurance premiums have increased and often don’t actively review their renewal notices. While the review focused on car insurance, the same “set and forget” habit can affect many other recurring expenses, including phone plans, internet services, subscriptions and memberships.

Small increases can be easy to miss, particularly when payments renew automatically or are paid by direct debit. Over time, those increases can have a much bigger impact than many people realise.

A renewal notice can be a useful prompt to ask a few simple questions. Is this still something you need? Does it still suit your circumstances? Do you understand what you’re paying for? Has anything changed since you first signed up?

Reviews aren’t only about finding savings. They can also help you better understand your cash flow, spending habits and broader financial position.

If it’s been a while since you’ve reviewed your recurring financial commitments, now may be a good time to take another look.