The Cost of Convenience: Subscriptions, Lifestyle Creep, and Your Financial Goals

Key Takeaways  

• As your income and responsibilities go up, so does the temptation for “quality of life” upgrades and conveniences. 

• Unused streaming, fitness, and app subscriptions can cost you more than you think—often hundreds per month if not reviewed consistently.

• Regular expense reviews help you identify overspending on forgotten services and maintain financial control. 

As people enter their peak earning years, they’re often making more money than they ever have before. But they’re also working longer and harder than ever before. As time becomes an increasingly precious commodity in their lives, they start paying for the convenience of having chores and errands done by someone else instead of doing it themselves - dog walking, lawn mowing, gutter cleaning, grocery delivery services, etc. As their income increases, homes tend to get bigger, cars get more expensive, subscriptions expand, and vacations get more exotic with first-class flights and accommodations. 

While these lifestyle upgrades can feel like rewards for years of hard work, they often build up gradually and without much scrutiny. Before you know it, these conveniences can significantly increase monthly spending, even if your lifestyle doesn’t feel extravagant. Because these costs often are passed off as “necessities” or just small monthly charges, they can go unnoticed for years until they start affecting your financial flexibility.  

It's all an example of “lifestyle creep.” If your expenses and cash flow aren’t monitored from time to time, all these “quality of life” upgrades can start to derail your financial plan. Another example of lifestyle creep are all the unused or overpriced subscription services. Clients of all ages and income brackets are susceptible. In today’s Amazon economy, it’s never been easier to order what we want, when we want it online and have it delivered to our home the same day. But if you ever take the time to review your credit card statements or the App tracker on your iPhone, you’ll be shocked by how many services you’re paying for every month that you rarely, if ever, use. 

It starts with the well-intended gym membership. You may only be going once or twice a month, but that charge hits your credit card every month with regular hidden price increases -- and you’re paying the same price as the hard-core ex-marine who goes three hours per day five times per week. Next come the forgotten fitness apps, like Peloton, which you haven’t used in over a year, or Weight Watchers, or the Trails app you downloaded two years ago on a hiking trip to New England and haven’t used since.

One of the biggest culprits? Streaming services. According to MNTN Research, most households only actively use around 4 streaming services. Breaking this down, you may use your Netflix, HBOMax, and Hulu subscription regularly, but what about Peacock, Apple TV, Paramount+, and all the others you only use occasionally or signed up for to watch a special movie or event? Music services are another sneaky drain. I recently showed my friend that he has been paying $10 a month for Apple Music, another $15 per month for Spotify, plus $10 for Pandora premium, and he’s certainly not using them all.  

And then there are the paid versions of various artificial intelligence apps: ChatGPT, Perplexity, Claude, etc.   AI subscriptions are relatively new to the world at large but many people are already leaning heavily on them as digital assistants – these apps are being use for everything – from writing emails to creating custom vacation itineraries. All of these “quality of life” apps can add up to hundreds of dollars per month and thousands of dollars per year.

For clients who are concerned about rising expenses, we often start by reviewing a simple budget worksheet together. It’s a complimentary service we offer, and it can be surprisingly effective at uncovering unnecessary or forgotten charges. In some cases, we recommend setting up a Schwab checking account, which allows us to help monitor spending patterns more closely and identify areas where money may be slipping through the cracks—particularly with unused subscriptions or duplicate services. Clients appreciate the clarity and potential savings. It’s a proactive way to regain a sense of control at a time when many feel overwhelmed by the steady increase in everyday costs.

Conclusion   Lifestyle creep and unchecked subscription spending can quietly erode even the strongest financial plans. As your income increases, it’s natural to reward yourself—but those small upgrades and conveniences can compound quickly. Taking the time to monitor your cash flow and cancel unused or duplicate services is one of the easiest ways to take back control. Subscription lifestyle creep doesn’t have to derail your goals—awareness and small adjustments can make a big difference. If you’d like help reviewing your spending or just need a second set of eyes, don’t hesitate to reach out.

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 BRENDEN LEESE, CFP® is a Wealth Advisor at Novi Wealth Partners