Britons are spending up to £1,200 a year on subscription services but could save as much as £400 by killing off “zombie” memberships, according to research.

Millions of households have unused or duplicate subscriptions – whether for a neglected exercise app or an unwatched Netflix account – with recurring charges quietly draining spare cash from bank accounts.

The Nationwide survey found 19% of subscribers do not utilise every platform they pay for and could save hundreds of pounds by cancelling or merging them. With money tight after Christmas, 31% plan to actively review and cancel unused services, it said.

Mark Nalder, the service, operations and performance director at Nationwide, said the start of a new year is a “natural time to reassess spending and priorities. Whether it’s pooling resources for a cheaper family plan with your housemates or cancelling memberships you’ve forgotten about, managing your regular outgoings and factoring them into your budget can be crucial in avoiding overspend.”

Personal finance experts say to start with an audit of your spending on apps and services. Go through your bank statement and collate payments to TV, delivery, media and product subscriptions on a spreadsheet. Note when you last used them and the total cost. You may discover one that you have forgotten about.

Rebecca Bebbington of the discount site NetVoucherCodes said: “Start by making a full list of everything you pay for regularly: monthly, quarterly or annually. Note down which services you actually use and mark down the renewal dates.”

Armed with your spreadsheet you will be able to weigh up the services you value most and those that are expendable. If you signed up to Apple TV to watch Severance or Ted Lasso, what is the point in continuing to pay £9.99 a month once you have finished the series?

You can cancel monthly streaming contracts when you like, and shows or films may be available on different services. At the moment, Wonka is available for rent on Apple at £3.49 or to stream on Prime as part of a subscription.

“Try leapfrogging,” Bebbington said. “Instead of juggling multiple streaming subscriptions, stick with one at a time. Plan how you watch, enjoy, cancel, and then hop on to the next.”.

You may be entitled to some subscriptions for free alongside other products you pay for. For example, if you have a Club Lloyds bank account (£5 a month fee), you get to pick a free “lifestyle benefit” from a list that includes 12 months of Disney+.

If you pay £95 a year for Amazon Prime, you get a Deliveroo Plus Silver package (normally £3.49 a month) with it, which gives free delivery on orders above £15. There are often free trials on subscriptions if you want to switch. For instance, Spotify Premium is free for a month before the £12.99 monthly charge kicks in. However, remember to cancel the service after the free trial if you do not want to add further to your bills.

If you want to keep but reduce the cost of a subscription, you may be offered a cheaper rate if you threaten to cancel. Towards the end of a discounted period is a good time to approach the company as it may have an extended trial or a promotional code.

You may also be able to save if there are a number of people in your house using the same service. “Spotify’s Premium Family plan, priced at £21.99 per month for up to six members living together is significantly cheaper than individual plans, which are £12.99 each. For couples, a Duo Premium plan is just £17.99,” Bebbington said.

New consumer protections due to come into effect later this year will oblige companies to contact people with details of the subscriptions they have and how they can cancel them.

Katrina Anderson, a lawyer from Cambridge-based Mills & Reeve, said: “This is to remind people that they have subscriptions that they might or might not want and to consider whether they would actually like to cancel them and how to cancel them.”

If you want to chart how long your new year resolutions will take to see results, you can use our calculator to see how quickly diverting money into a savings account can help you build up a nice nest egg.