On the other hand, if your favorite thing about your subscription box is getting a special treat each month, you can give yourself the same experience by creating a category in your personal budget for “mad money.” This is a sum of cash – which doesn’t have to be large – that you can spend on anything you want. It allows you to treat yourself to something special each month – and since you pick it yourself, you can be sure it’s something you’ll really use.
For most people, the big advantage of subscription boxes is the fun factor. Experts who spoke with LearnVest about the psychology behind subscription boxes say people enjoy the suspense of looking forward to each month’s box and wondering what it will contain. As addiction expert Amanda Dorman explains, “Waiting for that box each month – not knowing what it is, but knowing it’s coming – creates an adrenaline rush.” It’s like getting a birthday gift every month.
So there is one thing you need to remember about a few of these monthly subscription boxes, like Allure. Some offer a reduced first month rate but then will renew at a normal rate once the first month is over. That’s why it’s super important to turn off the auto-renew option on any boxes that you know you won’t want to subscribe to on a monthly basis.
Can You Really Afford It? Although subscription boxes can contain useful items, most of them are clearly wants rather than needs. Even if a box is a good value, it’s not worth buying if you don’t have room in your budget. Financial planner Katie Colman, speaking with LearnVest, says it’s okay to splurge on a monthly crate of goodies only “as long as you’re meeting all your other financial obligations and it’s not impacting your ability to meet your goals.”
Are These Items You Can Use? The most important thing to know before you sign up for a monthly box is whether you’ll use everything in it. With some services, such as Dollar Shave Club, it’s easy to tell, because you know exactly what you’ll be getting every month. But with others, you can’t be sure what to expect. However, you can get a pretty good idea by checking reviews online to find out what items the box has held for the past few months before you take the plunge.
Convenience. Having items delivered automatically each month can save shopping time. For example, LearnVest quotes a subscriber named Lindsay Karr, who’s a teacher and also the mother of a six-month-old baby. She uses the Subscribe & Save service from Amazon to get baby food, toilet paper, and other home goods on a monthly schedule. That way, she doesn’t have to take time out of her busy schedule for “running around town from store to store.”
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Other just-for-fun boxes cater more to adults. For instance, Loot Crate is a $16 monthly subscription box “for geeks and gamers” containing a themed assortment of t-shirts, decals, figurines, and more. And Spicy Subscriptions is strictly adults-only, providing a monthly selection of sexy products like massage oils, candles, and adult toys for $34.95.
Overbuying. While a subscription box usually costs less than buying all the items in it separately, there’s a good chance you wouldn’t buy all those items if they didn’t come in your box. For instance, a $29-a-month BarkBox subscription works out to $350 each year. Chances are, that’s a lot more than you’d normally spend just for toys and treats. Over the long term, it could add significantly to the cost of owning a dog.
What you get: With the Dollar Beard Club, you’ll get all natural beard products such as oils, balm, wax, growth accelerators, and more. All you have to do to get started is build a kit which includes choosing an oil, an essential, a shower item, an accelerator, and a accessory, and you’ll be sent that monthly. However, you can always just pick a single product and only have that in your kit which is by far the cheapest option.