The process of paying only a fraction of a product’s price each week or month instead of paying the whole amount in full is appealing to many consumers. This gives people the chance to invest the remaining amount towards something beneficial like bills or another thing you like. From what it is, to how it can help you manage your money, in today’s post, we’ve explained the subscribe to a product process just for you.
What does Subscribing-to-a-product mean?
The subscribe-to-a-product system is a method of purchasing products for those who do not want to pay the full price at once. It can be used upon many products including homes, furniture, technology, appliances, and many more things besides.
Here’s an example of how the system works: say that you would like to buy a new phone for $1000, do not want to pay the whole price at the time of purchase. By subscribing you can pay just $100 a month for 10 months until the whole sum is paid. Or if you do not want it any more you can just return it with no extra cost to you. The traditional way would require you to sign a contract and get hit with hidden fees. Also, if you do not want to the item for some reason charge you more fees for returning it, which makes no sense.
The Benefits of Subscribing
Outlined below are some of the main financial benefits associated with subscribing to a product:
1. Credit isn’t a factor
When you take out a loan from the bank, the possibility of you getting the loan or the percentage of interest you have to pay will depend on your credit score. Having a bad credit score could severely affect the loan’s conditions. Whensubscribing to a product, credit is not a factor. You can still buy top-brand products at the same rate as everyone else.
2. No debt
Subscribing to a product will not drown you in increasing financial debt. You can use the product freely as long as you keep paying the weekly/monthly subscription or have finally bought it. If you no longer want the item, simply return the product back to the company and the contract will come to an end – no strings attached.
3. Better money management
One of the most important benefits of the Subscribe-to-a-productsystem is that it opens up opportunities to better manage your money. In the phone example, instead of paying $1000 at once for the phone, you can invest just $100 a month and use the remaining $900 for another cause. This money can be set aside for bills, a savings plan, and you can even use it to sign up for piano lessons. Often times when purchasing essential items, we end up spending so much money that it may even rise into debt. The Subscribe-to-a-productsystem is the exact opposite of this situation by giving you a chance to invest in other things elsewhere.
Aside from the monetary benefits, subscribing to a product can help consumers in other useful ways too. For starters, you can bring a product home instantly (within the shipping duration) instead of waiting months and years to save up for the amount. Finally, the main perk of the subscribing to a productis that there is no commitment of having to buy an item after you subscribe.
No loans, credit, or sleepless nights spent worrying with all the interest and money you owe and a more efficient way of successfully managing your money – Welcome to the world of Subscribing-to-a-product!