
Know What You're Buying: Getting Stung by Podcast Subscriptions
Who's Responsible for Your Subscriptions? (Hint: It's You) When you spend money, you need to know exactly what you're buying. In this episode I look at a Reddit post where someone blasted Descript for "unauthorized" recurring charges. I explain why keeping track of your podcast subscriptions is your job and not the company's, and I share the tools I use to watch my money every day. The Descript Refund Complaint on Reddit A Reddit user warned people about Descript's recurring charges. He said he was billed for four months without getting a single email invoice, and Descript wouldn't refund him. Their policy only allows subscription refunds within 48 hours of the invoice date. He disputed the charges and blocked the merchant on his credit card. The thing is, Descript's terms say in plain English that they don't email invoices. Invoices are only available inside your account. It's also a subscription, which means they bill you until you tell them to stop. Why Companies Don't Always Send Billing Reminders I've worked for Libsyn, and today I work with PodPage and run the School of Podcasting. All of them are subscription businesses. Reminder emails sound nice, but when companies send "you'll be charged in three days" emails, people complain about getting them. You can't win. Your Money Is Your Responsibility This is why I check my bank account once or twice a day. The internet has great people and not-so-great people on it. I had my PayPal account hacked once, so I take security seriously. I also run my podcast like a business. At the end of every month I go through every dollar that came in and every expense that went out. Every so often I find something and think, "Why am I still paying for this?" Then I cancel it, because that's my job . Read Before You Buy: Avoiding Surprise Subscriptions Most subscriptions tell you they're subscriptions. Some don't make it obvious. I once bought vitamins, and the only place it mentioned I'd "subscribed" to monthly deliveries was the thank-you page. I canceled it right away. Slow down when you buy things, and don't play the victim when you skip the fine print. Why AI Tools Have Stricter Refund Policies To be fair to Descript , I understand their policy. Their tool has a lot of AI built in, and someone could burn through expensive resources in 48 hours and then ask for their money back. That's a losing deal for them. I'd still refund the customer, though. It's almost always cheaper than letting an unhappy customer leave and tell the world about it. Even so, the responsibility is still yours. How to Track Your Podcast Expenses Get a separate checking account for your podcast. My friend Ralph Estep Jr., The Content Creator's Accountant (and a School of Podcasting member), can help you set up an LLC or whatever business structure fits you. SoFi: SOFI is Not technically a business account, but it works great and I earn interest. Acorns: Acorns rounds up every purchase to the next dollar and invests the spare change. I've put away about $70 this year a quarter at a time without noticing. Monarch Money: Monarch money connects to your bank and sorts your spending with rules and budgets. It's great for finding out how much you really spend on things like fast food, and for spotting subscriptions you forgot about. Resources Mentioned Ralph Estep Jr., The Content Creator's Accountant : SoFi: SOFI Online Checking https://supportthisshow.com/sofi Acorns: supportthisshow.com/acorns Monarch Money: supportthisshow.com/monarch School of Podcasting: https://schoolofpodcasting.com Descript: Podcast Online Editor Want Help Running Your Podcast Like a Business? At the School of Podcasting we cover everything from launching your show to running it like a company. Use the coupon code LISTENER on a monthly, quarterly, or yearly plan. You can also choose the new plan that comes with weekly meetings with me. Visit schoolofpodcasting.com . I've been helping podcasters for two decades, and I want to be your podcast consultant. This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy













