The Hidden Dangers of Subscription Services
As I sat down to review our credit card statements, I was shocked to discover just how many recurring charges we had accumulated. My partner and I are guilty of loving subscription services, from meal kits to movie memberships. But as I dug deeper, I realized that not all of them were worth the cost.
Prioritizing Your Spending
Take our Blue Apron subscription, for instance. We use it regularly and it’s become an essential part of our meal planning. Our AMC A-List membership is also a great value, considering the high cost of movie tickets in NYC. However, I couldn’t justify the subscription to an online yoga studio when I already pay for a gym membership every month. And let’s not forget the unnecessary duplicate Netflix account!
The Psychology of Subscription Boxes
While some subscription services can be worthwhile, it’s easy to get caught up in the excitement of trying new products and services. The problem is that these “treats” can quickly add up and blow a hole in your budget. Remember, everyone has the ability to control their outgoings, regardless of their income level.
This Week’s Top Picks
- From Dorm Room to Success: The Millennial Bull shares lessons learned from running a dorm room barbershop, including the importance of researching and taking calculated risks.
- The Millionaire Mindset: Beyond The Dollar explores the habits of millionaires, including their willingness to wash and reuse ziploc bags.
- A Moth Problem Turned Money Lesson: The Luxe Strategist recounts how a moth infestation taught her a valuable lesson about being mindful of her belongings and finances.
- Breaking Free from Financial Norms: Daily Cup Of Fire celebrates the thrill of finding new ways to achieve financial goals and living life on one’s own terms.
- A Financial Fairy Tale: The Lady In The Black spins a whimsical yarn about money trees, reminding us that financial wisdom is key to growing our wealth.
- The Silent Savings Killer: Next Chapter FI sounds the alarm on the dangers of subscription boxes and their impact on our ability to save.
- Holding Onto Your Hard-Earned Cash: Natalie Bacon offers practical advice on how to keep your money working for you, rather than losing it to unnecessary expenses.
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