Are we paying too much for convenience these days?

CNA

5 days ago

How much does a bottle of water cost? At the supermarket, it's around S$0.60. At the provision shop downstairs, it's probably at least a dollar.
But at a vending machine or the airport? The same bottle can cost you four to five times more, easily.
Why do we willingly pay more in one context but not the other?
This isn't a conversation about product quality. After all, we're not talking about artisanal spring water infused with ionised minerals.
It is just that when we are feeling hot, thirsty or in a rush, we quickly become willing to trade more money for immediate relief.
This is the convenience premium: We pay a higher price not for a better product, but simply a faster, easier way to get the same thing.
And the dangerous part is, we're doing it more often than ever.
THE CONVENIENCE PREMIUM
Not too long ago, grabbing a meal meant either cooking it at home or taking a short walk over to the nearest hawker centre.
Today, we get our food delivered with a few quick taps on our phone, paying at least 20 to 30 per cent more just to save the effort of cooking, walking or queuing.
In a 2022 survey by food delivery company Deliveroo, more than 60 per cent of Singaporeans said that they used food delivery services more regularly, compared to the time before COVID-19. Singaporeans were also spending more on such services: S$108 a month, a 62 per cent increase from S$67.54 in 2019.
Convenience has become increasingly monetised in Singapore. It is now packaged and priced into nearly every aspect of our daily lives, with merchants and service providers bundling their offerings in strategic ways to charge us more.
We see it in ride-hailing applications with premium surcharges during peak hours and same-day courier services. Pay more for "express delivery" or wait longer, perhaps hours. No one likes to make that frustrating decision.
The rise of a convenience culture means that we are often paying not for a better product or service, but simply for faster, easier access to the same thing.
This has quietly shifted our spending habits. We're no longer evaluating the prices of products and services based on their quality or value – we're simply measuring how quickly or effortlessly we can get what we want.
As more services capitalise on this mindset, the cost of living inevitably creeps up not just through inflation, but through the silent premium of convenience.
THE REAL COST OF CONVENIENCE
First of all, do we really know how much we are spending on convenience?
On its own, a S$3 food delivery fee here and a S$10 ride-hailing surcharge there might seem insignificant. But these add up, perhaps quicker than we think.
Check your favourite food delivery or ride-hailing apps and tally up your total over the last three months – does the figure surprise or shock you? Or do you feel it is still a worthy expense?
Look closer at each individual charge. Ask yourself: Did I really need or want this one delivery or that one ride? Or did I pay for them out of impulse or habit?
This is the paradox of paying for modern convenience. It feels efficient in the moment but over time, it quietly erodes our financial discipline and diligence.
When everything is available on demand, our self-sufficiency also suffers.
Young adults of today are rapidly losing basic skills like preparing our meals or fixing a leaky tap at home. Why bother learning to do either when we can simply pay someone else to do it for us?
THE PSYCHOLOGICAL TRAP OF JUSTIFICATION
Singaporeans are a notoriously busy, overworked group. After a long day, it may feel like a direct ride home or having a meal delivered is worth the S$20 we are paying.
In the moment, the cost appears minor in comparison to the immediate relief it provides. We think: "I deserve this."
Behavioural economists call this "justification bias" – the emotional reasoning we soothe ourselves with on trade-offs that do not make much logical sense.
There is nothing wrong with this. The problem is when we start relying on it too frequently.
What starts as a one-time indulgence can quietly turn into an ongoing expense. Before we know it, spending on convenience has become the default mode of living, and it is difficult for us to go back to more inconvenient times.
Now, convenience in itself is not an evil. Paying a little more to save time can be a smart trade – if you are using that time wisely.
For instance, I'm willing to fork out for a private ride so I can take a quick nap to recharge or make urgent calls in a quiet space.
But if I spend that ride so that I may watch a drama or mindlessly scroll through social media instead, I'm not really buying myself time. I'm buying comfort and that's a very different equation.
DON'T LET CONVENIENCE CONTROL YOU
The busier we are, the easier it becomes to justify spending on convenience. Although convenience has become the currency of modern life, it shouldn't cost us control over our finances.
As with all spending, convenience is worth paying for when the occasional need arises, but certainly not on a daily basis and not at the cost of long-term financial freedom.
So if you find that you are spending a cool four to five digits each year on convenience, it might be time to think about whether cutting down makes more sense.
The next time you are tempted to pay a little more for ease, pause and ask: Is this purchase making my life better in the long run or just easier in the moment?
Are we outsourcing tasks to free up time for meaningful work, rest or relationships? Or are we making a habit out of draining emptying our wallets just to avoid minor hassles and discomfort instead of taking a few minutes to plan ahead?
The price of convenience can be one worth paying – as long as we are aware of what we are truly getting in return.