Save Me From the Subscription Economy!

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Joshi, A. (2024, August 31). The Subscription Trap: The Silent Money Drain. Medium. https://medium.investorcentral.co.uk/the-subscription-trap-the-silent-money-drain-c66b73dfdb72

Subscription services are exploitive and banks should develop tools to help consumers manage them more effectively:


With my topic being personal finance and wellness with a focus on subscription services, this article provided a perspective on how banks could help consumers fight back against the booming industry.

The concept of a subscription command center reflects the research I had done where services are heading towards a mega-platform; centralizing all bills and subscriptions under a single interface resembles a future of digital banking, one stripped of the distant innovations preventing it from forming today. This is a good reminder for when I research more radical technologies, I can’t rely on advancements that’ll take a decade to develop and expect them to solve current issues.

How can I turn projections of what the future may look like into actionable solutions available today? Would a subscription command center really change consumer spending, or just increase their awareness? Is one outcome better than the other? I believe increasing awareness alone can boost financial wellness, as it’ll give consumers the sense they have a firm grip on their subscriptions, but is that enough? How I push this concept further to then ensure a responsible future is a question I’ll have to address.


References

Johnson, A. (2024, January 26). Save Me From The Subscription Economy!. FinTech Takes. https://fintechtakes.com/articles/2024-01-26/subscription-economy/