The Psychology of Subscription Plans

In this episode of the It’s Not About The Money podcast (formerly the In Her Financial Shoes podcast) I am going to be digging deeper into the psychology around subscription plans.

These days we are fortunate enough to be able to spread the cost of bills where necessary but I wonder if this is always the right thing to do. Often, spreading payments over time incurs additional fees or a higher price tag. The scarcity mindset can show up even if we have the full payment sitting in the bank.

Paying in full versus paying in instalments both have their place in the financial world and especially when it comes to the psychology of the payment methods, there is great evidence for both being of value.

The Psychology of Subscription Plans

In this episode:

When paying a subscription plan can act as a motivator
The pleasure pain theory that is activated when we make a choice
How to empower yourself to take back the decision around making payments
How payment plans have an impact on your cashflow as a consumer and also as a business owner
Understanding where your financial goals are rooted to help you reach financial decisions