These days, you can get nearly anything in a monthly subscription box. From beauty sample boxes to meal delivery services, these companies will deliver a fresh selection of products to your door, month after month, for a flat monthly fee. People love subscription boxes for their convenience and the thrill of getting a surprise package each month. And with prices as low as $10 a month, they can look like an unbeatable deal.
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.
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Problems With Returns. Some subscription services, such as Stitch Fix, let you return or exchange items you don’t want. However, it’s not always easy to do, and so many people just don’t bother. Consumer expert Mitchell McCall, speaking with LearnVest, says people are much more likely to leave something on the shelf in the store than they are to return an item they’ve already received – even if they know they won’t use it.
Potential Savings. Having goodies shipped to you in a subscription box is often cheaper than buying each of those items separately. Karr says her subscription service gives her a 5% discount on all the items she has shipped from Amazon. Others subscription services offer even bigger savings. For instance, GlossyBox says its October 2017 box contained $69 worth of beauty items for about $20, and Loot Crate promises at least $45 worth of nerd-culture joy for $16.
For those of you not caught up on the trend (get with the times), a subscription box is pretty much exactly as it sounds. You sign up for the business of your desire, whether it be athletic apparel, stationary, makeup, or dog treats and they deliver a customized box of goodies to your door each month. Making you happier than a kid on Christmas! We love subscription boxes for that reason.
Unclear Value. Normally, when you shop for any product, you can look at all the choices and compare their prices to see which is the best deal. But with a subscription box service, you get a different assortment of products every month, and you don’t even know what they’re going to be. That makes it much harder to figure out whether your box is really worth what you’re paying for it.
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.
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.”