The Online Subscription Trap - And How to Avoid It

budgeting tips & tricks Feb 08, 2021

In the 21st century, in the developed world, online subscriptions are ubiquitous. The average person might have ten or more online subscriptions of various types. Here are just a few examples:

  • Online games, especially MMORPGs ("Massively Multi-Player Online Role-Playing Games")
  • Zoom, GoToMeeting or other videoconferencing software
  • Non-native calendar and/or planning software
  • Tax preparation software
  • Netflix, CBS All Access, Hulu and other video streaming services
  • Spotify, Apple Music, and other audio streaming services
  • Newspaper or magazine subscriptions
  • Cell phone plans
  • Workout apps such as Peloton, Strava, etc.
  • Meal planning software
  • Learning platforms like Masterclass, LinkedIn Learning, etc.

The shift to paying by annual subscription for services like these, in most cases, actually makes sense. It provides the developers with a steady stream of income that they can rely on, making investments in improvements and in new product offerings less risky. This in turn can result in a...

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