Do Subscriptions Save You Money?
I am a sucker for a money saving endeavour. I’m a two-for-one kind of girl, even though in my rational moments I can recognise that the two Magnums for five dollars is not a good deal, for my wallet or my waistline. I get a kick out of that feeling when the upfront cost has dissipated into your memory, and you feel like you’re getting the newspaper for free.
But do I ever get to the point where my subscriptions are worthwhile? The obvious example here is gym membership. You spend $200 upfront for three months membership.
To make it financially worthwhile, you know you have to visit the gym at least 3 times a week. And at the start, you’re so confident you will. You think you’ll be hitting up the gym so often; it’ll end up being $3 a visit. And, to begin with, that’s exactly how it works. Then you get sick. Or tired. Or busy/depressed/in love/ whatever. Then you’re at the end of a three-month subscription, with visits costing you $70 a pop.
So do subscriptions save you money? It certainly feels like they do. But the word on the (personal finance blog) street, is that they end up costing you money. The buzz is that it’s better to do things one at a time, because you’ll feel the pain of each transaction and consequently think about it a sufficient amount. I know, personal finance bloggers are sadists.
Here’s a few easy replacements for your subscription fetish.
Cancel magazine subscription and get thee to the library
Most libraries stock the latest magazines, so why not shack up in the corner of your local and browse your favourite gossip/cars/centre-fold. It’s far less dangerous than going to your local doctor’s and accidentally catching swine flu in the process.
Replace your subscription TV by downloading what you want on iTunes
Just because it’s there and you’re there doesn’t make it worthwhile viewing. If you’re not interested in having ten channels of news in Armenian, then cancel your subscription TV and buy the episodes you want to watch of shows you’ll actually understand from iTunes.
Mobility comes at a price
They’re a killer. Mobile phones- I can’t live without them. But they are a pricy modern day convenience. So Skype it up. It took a long time for Skype to syndicate to newer technologies like iPhones and Blackberries, but the great day has come. If you have a good Internet connection at home, Skype can eradicate any need for a landline as well. The downside is that you can’t get away with as many things with Skype, especially if you’re using video. Without a doubt, the days of answering your phone while on the toilet are over. www.skype.com
There are some subscriptions that do work out for the best. For instance, voluntary union fees probably end up paying off in the end, what with the discounts on beer and coffee that come with them. I also couldn’t live without the Internet in my home, so my subscription to Naked DSL is here to stay. With all the creativity in the world, I couldn’t think of any way to replace constant and unlimited access to Facebook.
What do you subscribe to?
Do you feel it ends up saving you money?
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