Half the Dutch population have a bit of month left after unexpected bills

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More than half the population of the Netherlands have to dip into a savings account every year to pay unexpected bills. 77% of them even do so several times a year. Unexpected bills are a source of mental pressure: one in six Dutch people experience stress when they get one. And payments that people could have foreseen, such as municipal or water board taxes, often still take them by surprise. These are the findings of an ABN AMRO survey among over 1,000 Dutch people carried out by Motivaction.

Most of the bills that Dutch people don’t see coming are in fact scheduled. Roland Booijen, Director of Apps & Digital Innovation at ABN AMRO: “As well as municipal and water board taxes, they include payments for things like sports club membership and subscriptions to newspapers, streaming services and meal kits. Apparently the Dutch don’t properly take these recurrent expenses into account or simply forget about them. Now, ABN AMRO has added a subscription service to its Grip app so that users can keep track of their subscriptions. It also offers the option of cancelling them quickly and free of charge.”

Keep track of forgotten subscriptions

According to Nibud, the Dutch National Institute for Family Finance Information, Dutch households had an average of eleven subscriptions in 2019 and those aged under 25 as many as sixteen. 91% have subscriptions they barely use or have even forgotten about and 25% think that cancelling subscriptions is a hassle. Booijen: “Since we launched the subscription service in Grip, users have cancelled multiple subscriptions, saving themselves 112 euros per year per person. When they use the Grip app, it checks recurrent payments and detects new subscriptions. That helps people to avoid unpleasant surprises and hopefully means they will even have a bit of money left at the end of the month.”

Cancel subscriptions with a single click

Users can cancel more than 3,000 subscriptions with a single click in the app. Booijen: “This includes gym memberships and subscriptions to newspapers and streaming services. Our service cancels your subscription and updates you on the status, so you get a notification when it’s done.” The app and subscription services are available free of charge to anyone with a Dutch bank account.

Free household accounting app for the whole country

The Grip app is available for free to help everyone manage their household accounts. You simply add your current accounts and the app automatically assigns your payments to useful categories such as ‘groceries’ or ‘transport’. The smart household accounting tool can be accessed by anyone who has a current account with ABN AMRO, ING, Rabobank, Regiobank, ASN bank, SNS or bunq. Grip was made by ABN AMRO for Android and Apple iOS. It currently has over 500,000 users. More information.

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