Subscription search and select

Subscriptions: Avoiding the snowball effect

Subscription costs add up, so it is important to stay subscription savvy by ensuring you only pay for what you use and get the most out of it.

The cost of convenience

With many of us living busy and fast-paced lives, companies usually advertise subscription services on the basis of convenience, as paying smaller amounts regularly can seem more affordable than a larger upfront cost. However, choosing convenience usually comes with a cost.

Most subscriptions automatically renew every month, making it easy to forget you are paying for them if you do not review your bank statements regularly. Service providers know that many people will continue paying even after a service is no longer useful or important to them.

Subscription creep

Each little cost adds up, often without you realizing how much of your money is going towards these services—a phenomenon often called "subscription creep". While each service on its own does not seem like much, together they can have a significant impact; for example, six subscriptions costing $20 each total $120 per month, which equals over $1,400 a year.