Difficult to believe it’s already been a whole year since I’ve move to the Squarespace platform. It was also a surprise because when I went to check on my money accounts (I use Mint), a hefty charge of $215 showed up on one of the credit cards. That is indeed the yearly fee for the privilege of using this wonderful host sans any limitations.
Much like how the annual fee for Amazon Prime sneaks up on me every year, I can see why people of my generation much prefer these payments to be broken down monthly instead of annually. The emotional optics are simply easier to stomach than having to all of the sudden cough up a few hundred dollars. It’s especially jarring for people like myself who keep monthly budgets as tight as possible.
The new iPhone that costs over one thousand dollars? No it doesn’t! Split into 24 payments it’s only $56 dollars a month! An infinitely easier pill to swallow, isn’t it? That brand new BMW sedan isn’t really over $40,000 dollars; on a lease it’s only costs $300 a month!
For the less financially inclined it’s of course easy to fall into the “affordable” monthly payment trap and go way beyond proper spending limits. But for the financially savvy - which I think of myself as - sectioning a big monetary outlay into tiny bits can be an excellent strategy to maximize returns (however small they may be). I rather do a piecemeal plan and hoard as much cash as possible to at the very least earn interest in a savings account.
This is precisely why instead of the typical lump sum every 6 months, I pay my car insurance every month. I can do the bi-yearly plan no problem at all, but it’s more prudent to keep the leftover cash in an investment account to accrue some modicum of gain. Plus, it’s far easier for budgeting purposes.
Anyways, it’s been a good year, Squarespace. Please don’t raise your fees.