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> Subscriptions are a fixed ongoing expense, and fixed ongoing expenses is the most common way people go broke. I'll assume that the latter claim is true. But,
by ragnese 3y ago
> Subscriptions are a fixed ongoing expense, and fixed ongoing expenses is the most common way people go broke.
I'll assume that the latter claim is true. But, does anyone actually "go broke" because of Netflix, Amazon Prime, etc, etc subscriptions? I'm skeptical. Obviously, the article asserts that people often forget to cancel subscriptions, and it has certainly happened to me, but I doubt many people get to a point where they're considering bankruptcy or downsizing their home before they realize they have a subscription they should've canceled.
It seems obvious to me that the "fixed ongoing expenses" that cause people to go broke are things like housing and debt payments (car, student loans, credit card, medical bills), and probably not optional monthly subscription fees--however high they may get.
- JohnFen 3y agoMy "go broke" comment was a little bit of hyperbole. Not much, though. > the "fixed ongoing expenses" that cause people to go broke are things like housing and debt payments It's not usually the big stuff that gets out of control, it's the little stuff. It's very easy to sign up for a $5/mo subscription without thinking twice. Signing up for a $2000/mo lease gets more thought put into it. You're unlikely to rack up a whole bunch of the $2k expenses, but lots of people do get into financial trouble by racking up thousands of dollars in expenses, $5-$20 at a time.