Personal Finance
Are Subscription Services Slowly Making You Poor?
By ValueChampion  •  May 5, 2021
Whether it’s your favourite show, fresh vegetables, music, or flower bouquets, there’s probably a subscription service for it in Singapore. A recent survey found that 69% of Singaporeans over the age of 16 have a subscription service, an estimated 2 million people. 39% have more than 1 subscription, and 19% have more than 3. While subscription services can be a huge convenience, they can quickly get out of hand. Sometimes these services border on the absurd: you can subscribe to a service that goes through your expenses and cancels your existing subscriptions. ValueChampion ran the numbers to show how subscription services add up and the opportunity cost of spending too much on renewing purchases. The Costs (and Opportunity Costs) Of Subscriptions An individual subscription seems affordable when you think about it on its own. For example, an S$9.90 Spotify subscription for limitless music access seems...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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