In the last 2 years, businesses have been transitioning their products and services from a ‘pay once and use forever’ business model into a subscription-based business model.
For me, I’m using subscription-based services for almost everything in my daily life.
Here’s a some of the subscriptions I’m paying on each month:
- Microsoft Office 365
- Spotify Premium
- SingTel fibre and mobile
- Personal insurance
- Mortgage loan
All of them are paid automatically with my credit card, which is great because I don’t want to spend time making regular payments all the time.
The downside of this is that I tend to lose track of all the subscriptions that I’ve signed up for and ended up paying for subscriptions that I don’t really use. Like Netflix that I signed up to watch Marvel’s Defenders, and ended up paying for a few more months after I finished watching the show, just because I didn’t keep track of my subscriptions…