Research shows that more than half of all households don’t know which subscriptions they have*. And they also don’t know how much they cost each month. More than a quarter of people sometimes forget to cancel a subscription. That’s wasted money you could easily save. This is why it’s important to keep track of your recurring expenses.
*Nibud 2021: Rapport Abonnementen (Dutch report on subscriptions)
To give you more insight into your finances, we developed ‘Recurring Expenses.’ With this you can see at a glance which fixed costs you have per week, month, quarter or year. Are there things you no longer use? Cancel that subscription. That saves money.
"}},{"componentType":"sectionTitle","title":"Where to find Recurring Expenses?"},{"componentType":"paragraph","richBody":{"value":"Recurring Expenses is part of Look Ahead. When you activate Look Ahead, future (fixed) debits and credits will be shown. These are predicted based on previous transactions from your payment account and credit card.
We only do this if you give permission. You’ll then get:
With Recurring Expenses, you see all your recurring income and expenses in one handy overview.
These expenses are partly based on predictions from past transactions. For example, your energy supplier’s direct debit. If €150 per month has been debited regularly, that amount will be included in your Recurring Expenses. If amounts change, a prediction is made based on previous amounts.
Recurring Expenses is included in all payment packages. There are no extra costs within those packages for Recurring Expenses.
"},"title":"Do I have to pay for Recurring Expenses?"},{"richBody":{"value":"That’s correct. Although saving isn’t really an expense, it could give a more complete overview. We therefore plan to add automatic transfers to your savings account to Recurring Expenses in the future.
"},"title":"I have an automatic savings transfer, but I don’t see it here. Why?"},{"richBody":{"value":"Recurring Expenses works with predictions based on (fixed) past transactions. We’re working hard to gradually add more recurring transactions to the overview, but we’ll never be able to give a complete overview of future expenses. For example, groceries or clothing aren’t fixed costs and can’t be predicted.
"},"title":"The overview isn’t complete. I’m missing some expenses."},{"richBody":{"value":"When you activate Look Ahead, you give permission to display future (fixed) debits and credits in Look Ahead, Monthly Budget, and Recurring Expenses.
For these predictions, we use previous transactions from your payment account and credit card. Predictions are made automatically, without human involvement, and only for the use of Recurring Expenses, Monthly Budget, or Look Ahead.
Read more about how ING processes your personal data in our privacy statement.