Paying for Subscription Services that You Don’t Want or Need
The Immediate gratification economy: You can get instant access to just about anything for a low monthly payment. Maybe instead of calling it the immediate gratification economy, we should call it the subscription economy.
The subscription idea is a real money maker. It is instant with the internet and satisfies that immediate gratification aspect of the consumer buying experience. Most importantly, the company gains value from the monthly collecting of subscription payments for a service that often times the consumer doesn’t even use.
Ok. Be honest! How many subscriber services are you currently paying for that you are not using? If I had to be completely transparent, I could think of 4 subscription services that I don’t use.
Many states have attempted to regulate these companies and how they go about deducting automatic payments for services. Often it amounts to a written notice sent to the consumer that gets ignored. Of course, companies could take a more aggressive approach by notifying consumers through the wonderful avenue of texting. Unfortunately, most take the path of least resistance when it comes to keeping the consumer informed.
Having said all of that, isn't our responsibility to be disciplined stewards and manage money more effectively? Do we truly need a company to remind us to be prudent stewards?
Regardless, take an hour or so and go through your finances. You might discover subscription services you can cancel and, at the same time, significantly increase your cash flow!