Trending
Have you seen the ad where the 20 something person says “We fired our housekeeper…” How about the other 20 something saying “I don’t have time to cook” showing off a device reminiscent of a 1980’s toaster over, as she sprinkles herbs on top of what appears to be a one pound portion of filet mignon in an aluminum tray? I wondered what it costs if you sign up for the major subscription services designed to make your life easier?
Why is this important? According to CNBC, 64% of Gen Z receive financial support from their parents. (1) If they use the subscription services advertised on TV, what is it costing them?
Let us look at seven examples. No company names will be used.
1. House cleaning. Membership might cost $59/month. Assuming two four hour cleanings at $20/hour, the cost in the examples is $219/month.
2. Meal preparation. The company with the smart oven has a plan of four meals a week that runs about $250 per month. Let us assume the oven, which can be purchased heavily discounted, was received as a gift.
3. Car warranty. There are different plans and factors like the age of the car are important. An average cost is $150/month. There are deductibles, often $100 per visit.
4. Appliance warranty. A plan covering home systems plus appliances can be $ 40 to 63 per month. Assume the cost is $50/month for this example. There are also service fees in the $100 range.
5. Pet insurance. There are coverage limits, however a plan to cover one dog with a $5,000 coverage limit and 90% reimbursement is about $107/month.
These two items are more essential in today’s world.
6. TV subscriptions. The average American pays $69/month for streaming services. Also they pay about $100/month on cable or satellite TV.
7. Wireless service. Major well known names charge $65 to 105 per month. A major factor is how many devices you have on the plan. Lets assume $85/month.
Now let us do the math and add the seven numbers together. Therse seven costs are about $930 a month. Lots of assumptions are made. You only have one pet or one car. You own your car and are not leasing it.
From a financial planning standpoint, convenience comes at a cost. How many of these services does your client really need? This is another area where the financial advisor or planner adds value.
1. https://www.cnbc.com/2026/04/12/many-gen-z-adults-still-get-financial-help-from-their-parents.html