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How much do your monthly subscriptions really cost?
Streaming, AI tools and cloud storage add up fast. See what your subscriptions really cost each year, and manage them across currencies with Grey. Open.
Priscila Marotti
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6 min read
AI tools, streaming services, cloud storage, creator platforms and digital subscriptions have quietly changed what a normal financial life costs. What happened to all these new monthly expenses?
My latest obsession is a garden I’ve not yet tended to. My new home will finally have the backyard I've always wanted, and I'm already dreaming about plants, outdoor furniture and slow mornings drinking coffee outside. All the things that come with this new, very offline version of my life.
Which also means I need to make room for them in my budget. So I went through my bank statements looking for a little extra money for my new garden, and what I found was my expensive subscription collection.
Spotify, Netflix, Apple, Amazon, Canva, AI… It’s a long list.
I don't particularly want to give up most of these things. I love having music wherever I go. I use AI almost every day for work. And I'm definitely not giving up my series.
So somewhere between budgeting for my new garden and wondering which subscription I could live without, I started thinking: when did having a normal digital life become something we had to budget for?
The $10 problem
Digital subscriptions have become so normal that they blend into all the other payments you make every day. Until you get an email saying prices are going up, or, like me, you're trying to free up some money to set aside for a dream.
There's something psychologically harmless about $9.99. I would probably think twice before spending $120 on something I wasn't sure I'd use. But $9.99 a month? That barely registers.
The thing is, they're practically the same amount over a year. And these days, $10 doesn't even cover some of our most common subscriptions.
Take Netflix and ChatGPT, for example. Here's what they cost in the US and Nigeria, based on 2026 pricing:
ChatGPT Plus price based on the Nigerian iOS App Store. Prices may vary by billing platform.
That's almost $480 a year for just two subscriptions. And we haven't even added Spotify, cloud storage, design software or all those little subscriptions we tend to forget about.
What's worse is that prices keep increasing. In July 2026, Google One reportedly raised its 200GB storage plan in Nigeria from ₦2,900 to ₦4,400 a month, an increase of more than 50%.
And cloud storage is particularly difficult to give up. If you've spent years saving photos, videos and documents in Google Photos, cancelling isn't as simple as deciding you no longer need a service. You might have to move files, delete memories or find another way to pay for storage. Exceeding your free storage allowance can also affect how Gmail, Drive and Photos work.
That's what makes these subscriptions complicated. Some entertain us, others help us work, and a few have become part of how we preserve our lives.
Does that mean I should cancel everything? Not necessarily.
I use many of these services regularly, and they're probably worth every dollar (and Brazilian reais in my case). But $480 could also buy a few pieces of furniture for my backyard. And that's enough to make me look at my subscriptions a little differently.
Work has its own subscription economy now
Freelancers and remote workers might not have office rent, but we certainly have software bills. You could pay for software once and use external storage units to support your work, but these days much of what we use for work and everyday life is available online.
AI tools like ChatGPT, cloud storage, design platforms like Adobe Creative Cloud, and project management software. Suddenly, your one-person business has its own software department, and you’re the software department.
I actually think most of these subscriptions are worth it. They help me do my job, and some save me hours every week.
There's also the fact that I get paid in dollars but live in Brazil. Some of my expenses are in Brazilian reais, others are in USD, especially my work subscriptions. So I've come to appreciate the flexibility to manage both without converting all my income at once.
It's why I use Grey, where I can manage multiple currency balances, shop worldwide with a virtual card, all while saving money thanks to low fees.
It's a small detail, but one that's worth considering when your work and expenses cross borders.
How streaming got expensive again
Remember when Netflix felt like the answer to expensive cable TV? One subscription, endless entertainment. Then everybody decided they needed their own streaming platform.
Now your favourite series is on Netflix, another is on Disney+ (mine happens to be on Apple TV). Then a friend recommends another brilliant show, and, of course, it's somewhere else. We've basically rebuilt the expensive entertainment bundle we wanted to escape, one subscription at a time.
And now the industry is coming together again. With Paramount's proposed takeover of Warner Bros. Discovery, streaming giants are looking to combine their platforms and content libraries. That could mean fewer subscriptions to manage, but analysts are already warning that less competition could bring higher prices. So we might end up paying more for the convenience of having everything in one place.
In theory, we can always cancel and rotate between services. In practice, many of us are paying for a small United Nations of streaming platforms.
We don't really own our digital lives anymore
Just look at how much of your life now exists somewhere you pay to access or maintain. Your photos might be in iCloud or Google Photos. Your files might be in Google Drive, Dropbox or OneDrive. Your playlists live on Spotify. Your favourite films live across streaming services.
Your website exists because you keep paying the hosting bill. Your creative work might depend on software that requires an active subscription.
None of this means subscriptions are inherently bad. In many cases, cloud services are safer and far more convenient than the systems they replaced. But our relationship with ownership has changed.
You can spend hundreds of dollars on a service over several years and still walk away with nothing tangible when you cancel it. Imagine paying for cloud storage for ten years because it contains thousands of family photos. At some point, is that still optional? Technically, yes.
Emotionally, good luck cancelling it.
That’s what makes digital spending different from much traditional discretionary spending. These services gradually weave themselves into our routines until cancelling them means changing the way we work, relax, communicate or remember things.
So, how much does being online actually cost?
This is where I think everyone should do a slightly uncomfortable experiment.
Imagine a relatively casual digital user paying for a video streaming service, music and cloud storage. Individually, those bills probably don't attract much attention. A remote professional might have all three, plus an AI subscription and one or two productivity tools.
A freelancer or creator could add design software, larger cloud storage, website hosting, a domain, editing software and specialised work platforms.
It isn’t difficult for a digital life to reach $100 a month. That’s $1,200 a year. At $200 a month, you’re spending $2,400 a year.
And because these costs are scattered across entertainment, work, storage and apps, we rarely think of them as one expense. We make allowances for housing, transport costs, even our emergency funds. Digital life deserves its own category now.
Look through your bank statement and do a subscription audit. Music and film streaming, Cloud storage, AI, online newsletters. Gaming subscriptions. Creator memberships. Productivity tools. Website costs. Premium features you pay for through the App Store or Google Play, then multiply the monthly total by 12. It is easier to decide whether or not a service is worth keeping when you see how much it costs for a year of use.
Check whether you are paying for similar services, check what storage plans could work for you, and if you are enjoying a free trial, check what pricing looks like when the trial period ends.
I don't think the solution is to become anti-subscription. I use some of them constantly. Cancelling them to make my bank statement prettier wouldn’t necessarily improve my finances or my life.
The more useful exercise is asking what each subscription is actually doing for you. Are you using it for work or daily life? Then there’s my favourite category: subscriptions you forgot existed.
These aren’t saving you time, entertaining you, or storing anything important. They’re simply feeding quietly. A subscription audit doesn’t need to end with cancelling half your digital life. Finding two or three services you no longer use might be enough.
If you work internationally, it’s good to know which of these expenses are being paid for in dollars, pounds or euros.
The new financial skill is deciding what deserves to stay
In the end, I didn't cancel everything after looking at my bank statement. I cancelled two things.
The rest, annoyingly, I actually use.
And maybe that’s the point. Our digital lives aren’t getting any cheaper, especially with new AI tools and subscriptions popping up all the time. So instead of giving everything up, maybe we just need to pay a little more attention to what we're spending and what's actually worth it.
Because the internet doesn’t really feel free anymore. Somewhere between rent, electricity and our phone bills, we’ve built an entirely new category of expenses, $9.99 at a time.
So, after my little deep dive into the cost of being online, I'll leave you with one suggestion: give Grey a try. If you’re earning internationally and juggling different currencies, subscriptions and online payments, having a multi-currency account and a virtual international card can make things a little easier.
And honestly, we could all use a little less to think about.
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Personal finance tips for millennials and gen-z’s: building a solid financial foundation
Feeling overwhelmed by finances? This guide for millennials & Gen Z offers budget, savings, & investment tips to build a secure future. Start your financial journey today!
Sarah Achebe
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August 26, 2024
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6 min read
Navigating the world of personal finance can be overwhelming, especially for millennials and gen-z’s, who are just starting to build their financial future. However, you can set yourself up for long-term wealth and financial stability with the right strategies.
This comprehensive guide will offer actionable advice on budgeting, saving, and investing for younger generations.
Establishing a budget: the foundation of financial health
Track your spending
The first step to effective budgeting is understanding where your money goes. Use budgeting apps or spreadsheets to track your income and expenses. Categorize your spending to identify areas where you can cut back.
Set realistic goals
Create short-term and long-term financial goals. Short-term goals might include saving for a vacation or paying off credit card debt, while long-term goals could involve buying a home or saving for retirement. Ensure your goals are specific, measurable, achievable, relevant, and time-bound (SMART).
Create a budget plan
Once you know your spending patterns and goals, create a budget plan. Allocate a certain percentage of your income to necessities (rent, utilities, groceries), savings, and discretionary spending (entertainment, dining out). Follow the 50/30/20 rule as a guideline: 50% of your income for needs, 30% for wants, and 20% for savings and debt repayment.
Adjust and review regularly
Your financial situation and goals can change, so review and adjust your budget regularly. Track your progress toward your goals and make necessary changes to stay on track.
Building an emergency fund: your financial safety net
Determine your target amount
An emergency fund should cover 3-6 months of living expenses. Calculate your monthly payments and set a target for your emergency fund accordingly.
Start small, think big
Begin by setting aside a small, manageable amount each month. Even saving a little is better than not saving at all. Increase your contributions as your financial situation improves.
Choose the right account
Place your emergency fund in a high-yield savings account or money market account. These accounts offer better interest rates than traditional savings accounts, helping your money grow while remaining easily accessible.
Prioritise your emergency fund
Ensure your emergency fund is fully established before investing in stocks or other assets. Having this safety net will protect you from unexpected expenses and prevent you from going into debt.
Saving for Retirement: Start Early, Save More
Take advantage of compound interest
The earlier you start saving for retirement, the more you benefit from compound interest. Even small, regular contributions can grow significantly over time.
Automate your savings
Set up automatic contributions to your retirement accounts to ensure consistent savings. Automating your savings makes it easier to stick to your retirement plan and reduces the temptation to spend the money elsewhere.
Review and adjust
Review your retirement savings strategy regularly and adjust your contributions as needed. As your income grows, increase your savings to maximise your retirement fund.
Investing wisely: building wealth for the long term
Understand risk tolerance
Assess your risk tolerance based on age, financial goals, and investment horizon. Younger investors can generally take on more risk, while those closer to retirement should focus on more stable investments.
Diversify Your Portfolio
Diversification reduces risk by spreading investments across various asset classes (stocks, bonds, real estate). This strategy can help protect your portfolio from market volatility.
Financial planning and education: the path to financial independence
Educate yourself
Continuously educate yourself about personal finance. Read books, take online courses, and follow reputable finance blogs to stay informed about financial trends and strategies.
Set financial milestones
Establish milestones for your financial journey, such as buying a home or achieving a specific net worth. Celebrate these achievements to stay motivated.
Seek professional advice
Consider consulting a financial advisor, especially for complex financial situations or significant life changes. A professional can provide personalised advice and help you develop a comprehensive financial plan.
Stay disciplined and patient
Building long-term wealth takes time and discipline. Stay focused on your financial goals, be patient with your progress, and adjust your strategies to achieve financial independence.
Conclusion
For millennials and gen-z’s, the path to financial stability and wealth begins with smart budgeting, saving, and investing practices. By establishing a solid financial foundation early on, you can set yourself up for a secure and prosperous future. Remember, the key is to start, stay informed, and remain disciplined in your financial journey.
How to identify and avoid common online scams: a guide for fintech users
Stay vigilant and protect yourself from online scams. Share this guide with friends and family to help them stay safe. For more tips and updates, subscribe to our newsletter or contact Grey today
Michael Centeno
•
May 24, 2024
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6 min read
Globalisation has several benefits some of which include, global opportunities, improved healthcare, resource sharing and economic growth. However, it also comes with its fair share of cons like exploitation, job loss and an increase in cybercrime and online scams.
As a fintech company, protecting our customers from fraud is a top priority, so we take extra care to detect and prevent possible scams. In this post, we’ll talk about common online scams and how we identify them.
Dating scams
Recently, dating apps have become more popular and unfortunately, so have dating scams. Many people while searching for partners are emotionally vulnerable, making them targets for scammers. One of the most common tactics these scammers use is “catfishing”.
Catfishers create fake profiles to deceive and exploit victims. They steal someone else’s information, images and identity to trick people into entering romantic relationships with them. It can be hard to tell when you’re being catfished but here are some red flags to be aware of:
- They show strong emotions in a short amount of time
- They sound too good to be true
- The conversation moved quickly from the dating app to private channels
- They never want to video call
- They never want to meet up
- They encourage you to share personal information and secrets
- They request money to cover expenses like rent, claiming they just lost their job.
It can be difficult for fintechs to identify dating scams but some common strategies we use is transaction monitoring. We look out for unusual transactions to new recipients and keywords indicative of a love interest or financial hardship such as “money for rent” and emojis. Sudden changes in the user’s spending patterns also sets off warning signs.
Also read: How to identify and avoid phishing scams: A guide for safe online transactions
Job offer scams
Many families, businesses and economies are still struggling with financial hardships in the aftermath of the pandemic. This has led to a surge in the number of job scams.
Job scams happen in a variety of ways:
- Fake job postings on legitimate jobs boards and social media that offer high for little to no experience.
- Unsolicited job offers
- Advance fees for training materials and background checks
- “Earn big and work from home”
- Requesting personal information
Before applying and accepting job offers, make sure you verify the job listing, and confirm the legitimacy of the company by checking its official website and reading reviews. Also, legitimate employers would never ask for an upfront fee or pressure you to accept their offer. Lastly, if the job sounds too good to be true, it probably is.
Lottery scams
Lottery scams are another common online scam customers face, similar to job offer scams. Victims receive emails claiming they've won a lottery with a big payout, often from abroad. To claim the prize, they're asked to pay fees for taxes or processing. This scam can also involve identity theft if personal details are requested.
Some tips to help you spot lottery scams are:
- The email is from a person, not a company
- You are asked to keep your “win” a secret
- You’re not the only email recipient
- You didn’t buy a ticket and have never heard of the lottery
To protect yourself from lottery scams, make sure you don't share sensitive information, verify the legitimacy of the lottery company and be cautious of emails or messages claiming you won a lottery you didn’t apply for.
Some other ways scammers try to deceive people include:
- Offering payments in gift cards.
- Refusing to use the mandatory payment service provided by online platforms.
- You can’t find the company name or email address on the internet
- The company’s name closely resembles a well-known global brand but it’s not quite the same e.g. “Amazing Books”.
- Request for upfront payment to get more later
- They avoid taking phone calls or providing direct contact information.
Wrapping up
At Grey, we work hard to ensure your funds and data are completely safe with us. We have strong measures in place to keep your data from being hacked by fraudsters and to flag any suspicious activity that might put you at risk. You can learn more about how Grey protects you here.
The customer Is always right: Fact or hoax?
The customer is always right": Fact or Fiction? Learn how to prioritize customer needs and build a customer-centric business for long-term success. Get actionable tips on product development, reliability & accessible customer service.
Tope Anisere
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April 30, 2024
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6 min read
Businesses and startups often build products around users’ needs and pain points and try to ensure a smooth user experience. Many operate on the premise of product-led growth (PLG), which reinforces the belief that the customer is always right, but is this always the case?
The short answer is no; however, satisfying your customers’ needs should be the guiding principle for businesses looking for growth and market acceptance.
In this blog post, we’ll explore the rights of a customer and the truth behind the “customer is always right” mentality.
Essential customer rights every business should respect
Right to be heard:
In some cases, customers run into roadblocks while using a product, which usually delays them from achieving their goal. Hence, by right, there should be a medium or channel for users to air their complaints without the risk of being poorly treated by the customer service agent. This ensures that users have a seamless and worthwhile experience with your product.
Right to seek resolution to issues:
Customers can voice their concerns and complaints about your product or service and get a quick solution to these issues. This is important for keeping customers loyal and happy.
Right to feel confident about your product.
The reliability of your product or service is critical to customer satisfaction and influences their decision to remain loyal to your brand. When users can confidently and easily navigate your product, they become unpaid brand ambassadors spreading the word about your business.
What does “The customer is always right” really mean?
The “Customer is Always Right” mindset embodies a “Customer-first mentality.” Businesses can create excellent customer experiences by prioritising the needs of their customers, and here are some to achieve this:
How to build a customer-centric business
Build a usable product:
For most customer-centric startups, having a visually appealing product and innovative idea is just the beginning. It’s essential to conduct thorough user research and execute the implementation flawlessly with the development team. This ensures users can easily navigate your product without much guidance, leading to an excellent user experience.
Have a reliable product:
Reliability means your product, system, or service will perform as expected, consistently meeting the user’s expectations without unexpected failures or downtimes. Beyond marketing and paid ads, having a reliable product helps build long-term customer relationships, becomes a key selling point to attract new users, and gives you a competitive edge in the market.
Accessible customer service:
Having accessible customer service allows businesses to resolve complaints and issues quickly and prevents them from escalating into bigger problems. As a business owner or startup founder, ensure that user guides, articles, and live chat sessions with customer support agents are readily available to help users when they encounter issues with your product or service. This is vital for building positive customer relationships.
Personalised experience:
Personalisation helps create meaningful and emotional connections with your users. You can improve engagement and conversions and increase brand loyalty by tailoring your product experience to each customer’s needs, preferences, and behavior. Some ways to personalize users’ experience include collecting data to understand their interests and needs, segmentation based on the data collected, creating relevant content, and gathering user feedback.
Wrapping up
Ultimately, your product or business's success depends on understanding your customers’ problems and providing solutions. Solving issues keeps customers happy and loyal, even when not always
Customer success handbook: Essential skills
Discover essential skills and strategies for excellent customer support in our comprehensive customer success handbook. Learn how to build lasting customer relationships and foster brand loyalty
Ikechukwu Ibe
•
February 9, 2024
•
6 min read
It’s a no-brainer that customers are the powerhouse of a business; unplug it, and everything shuts down — the brand is lifeless. This realization shows us how delicate and relevant one customer is.
Customers can cause ripple effects with their reviews, so their importance cannot be underestimated. With a high NPS (Net Promoter Score), they become unpaid ambassadors spreading the gospel of your product, which in turn leads to an increase in your customer base.
From becoming a target audience to a lead and finally a customer, the journey to customer acquisition is not fancy. Incorporating phenomenal touch points till the final journey of using your product, users need to feel connected to the brand. The work doesn’t end there. Providing outstanding customer support while using your product is vital to customer retention.
Now that you have a solid idea of the customer let’s look at how you can become a phenomenal customer support agent.
Importance of excellent customer support
Customer support involves strategies to create an exceptional experience for the end user while using the product and services. Customer success goes beyond responding to users and solving their queries; it involves building relationships with your customers and fostering a good environment for users.
Building an excellent customer support system assures users they are seen and heard. Solving the problems encountered with the products in a timely and effective manner evokes loyalty, which is a valued currency in business. Customer support is very critical in fostering the growth of your company.
Benefits of excellent customer support
The benefits of customer support range from financial to overall company growth. The benefits include:
Brand Reputation: You can spot good brands from their customer support. The customer support team is one of the first representatives of the brand and, hence, the first line of contact for a user. By building an excellent team, your brand stands out from the crowd.
Customer Retention: how likely will users stay with your company or switch to a competitor? How they are treated determines the result. A great product and service are fantastic, and when merged with phenomenal customer support service, the brand becomes irresistible. When users love a brand, they stick around and repeat purchases. Brands with high customer retention tend to have a high NPS (Net Promoter Score), which leads to an increase in new users.
Lower Customer Acquisition Cost (CAC): customer acquisition cost is the amount of money it costs to onboard new users. With the resources and energy that go into acquisition, brands leverage existing users to save costs. Excellent customer support reduces the work and cost of acquiring new customers as existing customers become brand ambassadors.
Increase in revenue: An excellent customer support system increases customer retention, which enables upselling, cross-selling, and reselling. This strategy leads to an end goal: an increase in revenue.
Skills To Become An Excellent Customer Support Agent
Let’s debunk a myth before diving into the rudiments of the skills needed. Customer support employees are thought to be the only customer support agents. But in truth, all employees are customer support agents.
Your friends and family might not always meet the customer support team directly, so you have to stand in as a customer support agent, and having a concrete understanding of the products and services will help you solve some basic problems.
Here are the essential skills of a customer support agent:
- Empathy: Encountering problems can be disheartening, and when users encounter problems with your products, they can be harsh and nasty. As a customer support agent, stepping into their shoes to feel the pain and frustration allows you to solve their issues effectively. Users are more drawn to a brand that makes them feel cared for and seen.
- Effective Communication: Communication is very vital. Communicating effectively, from written to oral, is crucial as a customer support agent. Writing appropriately with the right punctuation and vocabulary sets the tone while interacting with users. Customer support agents should also ensure they communicate in appropriate tones with users.
- Problem Solving: Customers sometimes reach out when they are unclear about their issue; it is the role of the customer support agent to decipher the why and how to solve the problems. Being proactive as a customer support agent distinguishes brands from competitors.
Wrapping up
At Grey, we are committed to investing in the training of our customer support agents. Our goal is to provide top-notch customer support while prioritizing the well-being of our users.
The role of customer support should never be underestimated, and implementing a system that fosters the team’s growth in our firm increases the quality of users’ experience.
