Sharing Daily Discoveries About Personal Finance And Business Topics

The Trend of Not Actually Owning Your Software

financial literacy

Yesterday I was comparing various accounting software again and one thing that I looked into was all these Cloud based software where you are essentially subscribing to use the service on a monthly basis. Some of the prices were well over $20/month too which means in a year it would be $240. That made me think how in some ways it may not make sense financially as I know many people who usually keep the same software for a few years.

This got me curious as I then looked at other software products that are going towards the Cloud route. Similarly, the monthly price seems to add up so fast and it made me wonder if eventually none of us will have the ability to actually own the product without the worry of having to activate it with a monthly fee. Imagine using a word processor for example where I am pretty sure most people use the same version for years which upfront could cost like say $100. Now instead you pay like $10/month.

This seems to make more sense for like a large business that must stay on top of the latest and greatest each year as opposed to the home user.

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