Do you include the annual cost for recurring expenses?
Last updated by Brady Stroud [SSW] 10 months ago.See historyWhen quoting prices, it's common practice to state daily, weekly, or monthly costs; sometimes per person, per click, etc. It's crucial to provide a full picture by also including the annual cost. The reasons:
- Annual Budget Planning: It helps individuals and businesses in planning their annual budgets
- Comparison Ease: Customers can more easily compare costs with other services or products
- Long-term Perspective: It encourages customers to think about long-term costs and benefits, rather than just immediate expenses
AUD $150 + GST/month
Figure: Bad example - Only include monthly cost
AUD $150 + GST/month (AUD $1,800 + GST/year)
Figure: Good example - Include both monthly and yearly cost