Investing in Digital Services for 2023
2023 is swiftly introducing new purchasing trends in the digital tools market. Financial analysts suggest the highest caution when it comes to managing your personal finances. This article provides information about how Subscriptions compare to Lifetime payments for some of the most needed Digital tools of 2023.
Investing can be tricky. It is said that in order to succeed in something, one must first learn from the masters. Warren Buffet, one of the most successful investors of our time has a favorite quote of ours: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.“
It appears that a very high percentage of people are trying to treat purchases as investments instead, provided that they have the proper understanding of how they can benefit from them in the long run. We are about to dive a bit deeper than just the 10 years, suggested by Mr. Buffett.
According to Statista records, since 2010, the number of connected IoT devices has grown to 20 billion connections by 2023, while the non-IoT devices count begins to decline.
(Statista 2023, Internet of Things (IoT) and non-IoT active device connections worldwide from 2010 to 2025)
When it comes to considering buying a digital product, there are a lot of options to choose from. One option that you may not have considered is investing in products that require just a single payment, unlocking lifelong access to it and all upcoming future changes, without worrying about price increases. This type of payment model is popularly called “Lifetime“. Getting one means you have access to it forever, without any additional fees or subscription costs.
Advantages of Lifetime Products
Below are listed just a few reasons why investing in lifetime products can definitely be a good idea:
Save money in the long run:
We explained that Lifetime payments are performed only once. After conducting it, you won’t have to worry about monthly or yearly subscription fees, which can add up over time. This way, lifetime saves you more money in the long run, especially if the product has an additional added value for its usefulness in your daily activities.
Get more value for your money:
Lifetime products often come with a lot of features and benefits that you wouldn’t get with a subscription-based product. For example, a lifetime product may include updates and new features, while a subscription-based product may not. Luckily, with pCloud, you receive all Premium features, regardless of the pricing model.
No commitment:
With a lifetime product, you don’t have to worry about committing to a long-term subscription. You can buy the product and use it as long as you like, without any pressure to continue using it the way you would with a subscription.
Peace of mind:
Investing in a lifetime product means that you will have access to it forever. Of course, it’s important to do your research and make sure that the lifetime product you’re investing in is the right fit for you. But lifetime products are definitely worth considering because they are certain to deliver a cost-effective option.
Subscriptions compared to Lifetime
We have summed up below how subscriptions compare to a lifetime deal:
Monthly subscriptions are costly over time:
Monthly subscriptions require regular payment. This means that they can add up to a significant amount over time, especially if you are not using the service regularly. On the other hand, with a lifetime product, you only pay once and have access to it forever.
Limited access with Monthly subscriptions:
With a monthly subscription, you only have access to the product or service for as long as you keep paying the monthly fee. With a lifetime product, you have access to it forever, regardless of whether you continue to pay for it or not.
Less control over costs with Monthly subscriptions:
With a monthly subscription, you have less control over your costs, as you have to pay every month, regardless of how much you’re using the product or service. With a lifetime product, you pay once and have access to it forever, which gives you more control over your costs.
Subscriptions come with commitment:
With a monthly subscription, you’ll need to keep paying for it every month or you’ll lose access to the product or service. This can create pressure to keep paying for something you may not be using or don’t need anymore, with lifetime products, you have the freedom to use it as much or as little as you want.
Monthly subscriptions can be changed by the provider:
With a monthly subscription, the provider has the power to change the terms of the service, and raise the price. With a lifetime product, you have access to it forever, regardless of what the provider does.
SUMMARY
It’s important to note that Monthly subscriptions can be a good option for some people or for some services, but it’s important to take into account the long-term costs and the commitment required. Lifetime products offer a one-time investment option that can provide more value, control, and peace of mind for the user.
In summary, Lifetime digital products are a smart investment for those who want to save money in the long run, get more value for their money, avoid commitment, and have peace of mind, and no fear of losing access to the product. pCloud fits both Lifetime and subscription-based models. It’s important to do your research before investing in a lifetime product, but it’s definitely worth considering.