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.”
These days, subscription boxes can do more than groom you – they can dress you from head to toe. The best-known clothing subscription is Stitch Fix. This shopping service is a bit different from other subscription boxes. For $20 a month, you get a box with five items – clothing, shoes, and accessories – chosen just for you based on your style preferences. However, if you want to keep the items, you have to pay for those separately.
Amy Livingston is a freelance writer who can actually answer yes to the question, "And from that you make a living?" She has written about personal finance and shopping strategies for a variety of publications, including ConsumerSearch.com, ShopSmart.com, and the Dollar Stretcher newsletter. She also maintains a personal blog, Ecofrugal Living, on ways to save money and live green at the same time.
Stitch Fix offers boxes for men and women from both well-known and new brands like Joie, Citizens for Humanity, Original Penguin, and Converse. Items cost an average of $55 each, and the $20 “styling fee” is deducted from the cost. If you choose to keep all five items, you get a 25% discount on the lot. If not, you can send back the ones you don’t want in a prepaid envelope.
Julep. The monthly Julep box has a focus on nail polish, though it includes other beauty items as well. Unlike many services, Julep gives users the option of previewing the month’s selections and picking out the specific items they want. The service has two tiers: My Maven, which provides $40 worth of products for $25 a month, and Maven Luxe, which delivers at least $60 worth of products for $40 a month. You can save $5 a month off either service by signing up for a three-month subscription.
Why We Love It: With the number of perfumes out there, it can be hard to find your signature scent. Even when you do find one you like, you’re usually so over it by the time you reach the bottom of the bottle. Scentbird allows you to mix up your perfume and cologne game each month with 450+ high end scents to choose from – leaving you smelling fresh as a flower.
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.
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.
The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. We may have financial relationships with some of the companies mentioned on this website. Among other things, we may receive free products, services, and/or monetary compensation in exchange for featured placement of sponsored products or services. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors.
Why We Love It: Trunk club is basically like having a personal stylist, but at a fraction of the cost. Their men’s and women’s style quiz is super thorough to ensure that each “trunk” is filled with clothing you’ll love. What’s even better is that you can approve its contents before it’s shipped to your door. Once you try everything on, you choose what to keep (and pay for) and send back the rest at no cost. You can do this on a monthly basis, or whenever you feel like you need to spruce up your wardrobe.