Archive for the ‘Financial Management’ Category

Learning To Do Things Manually To Compare

Tuesday, July 29th, 2014 by

I saw this deal at Amazon for what is apparently a “sandwhich maker” that was on sale. It creates what would appear to be in many ways a Mcdonald’s egg Mcmuffin clone. This got my attention because I used to work at Mcdonalds as a teenager where I made Egg Mcmuffin’s all the time and for the most part it’s not very hard.

sandwhichmaker

So I was thinking, is it really worth it to pay for an appliance like this where you not only have to pay for the machine but time wise you may not be saving much or any time at all? I was watching some videos of this and people were saying it takes about 5 minutes for the whole process. From personal experience in doing it manually, the whole process takes about two minutes or less. While granted you could say working at the restaurant has all these fancy equipment to make the process faster, for this there really isn’t much to it. A the same time, this makes me think on how many times we buy appliances to create stuff because we assume it is complicated without it.

To me this demonstrates the importance of actually trying to do things manually so that you clearly evaluate if it is worth your time and money to invest in all these fancy equipment. Like in this case, to me it makes no sense knowing how easy it is to make. Knowledge is power and a good money saver too.

Shopping For Deals Throughout The Year For Events

Sunday, July 27th, 2014 by

For some reason I noticed recently that quite a few businesses are advertising back to school sales even though that is quite a bit away. The deals don’t even seem that great compared to what you could find closer to the school year too. I then saw one particular ad where its sales pitch for you to buy all your back to school items is so you can avoid the crowds and lineup. Would you be willing to pay say 30% more simply to have everything ready like two months ahead of schedule in this case?

For this particular case I would be more inclined to wait for the sales as most of the items in general aren’t very hard to find. If anything, usually the direction I would try to go with here is to simply buy the items throughout the year if they are a good deal and hope that I will have very little left to shop near the cut-off date. This is as opposed to dedicating one day or week to do all the shopping as usually in those cases you are more focused in just getting everything off your list instead of getting a good deal.

The same can be said such as buying gifts for people. It simply requires you to be a bit more organized and focused in terms of what exactly you need to buy so that when you see a good deal you are ready for the checkout line.

Buying The Not So Perfect Produce

Friday, July 25th, 2014 by

I saw this neat video today called “Inglorious Fruits and Vegetables” which was neat is it revolved around taking fruits and vegetables that would normally be deemed as unsellable where people would sell it at a discount. Interestingly enough, people bought it. This I the video for those who never saw it:

If you think about it, it is simply marketing perception on why no one would buy it in the first place. However, package and present it in a different way and people will embrace it. Makes you wonder why every grocery chain doesn’t implement a system or program like this. I know for myself usually these kinds of produce are usually bad looking because they are literally going bad as opposed to simply having a cosmetic issue. If businesses created something like this though it would definitely help with the perception and I’m sure a lot of people would save a lot of money.

Makes me think of how even for simple items like an apple many people would take the visually unappealing ones and simply make it into say apple juice or cider.

Paypal Surcharge Fees

Wednesday, July 23rd, 2014 by

I was surprised to see this today as I was interested in making a purchase using Paypal as a payment option and to my surprise the item was more expensive than the listed price. Upon looking at it closer, it seemed like the merchant was charging its customers a$2 surcharge fee for anyone who wished to use Paypal as a payment option.

paypalsurcharge

It was funny in some ways as they didn’t seem to want to add this additional fee with using a credit card payment directly which makes me wonder if Paypal fees for the merchants are extremely high in comparison. Would you be more inclined to use your normal credit card instead in this case to avoid the $2 fee? It almost reminds me of merchants implementing a surcharge for customers who pay with a credit card instead of cash which is usually forbidden by the payment provider.

It Takes Facts About Interest Payments To Change People

Tuesday, July 22nd, 2014 by

I saw this interesting clip today of a couple who was essentially getting financial advice to help them get out of debt. The story itself wasn’t anything new as it was simply a case over spending and buying high luxury items. When the financial adviser went over their spending habits the funny thing was they seemed kind of contempt with it as if it was normal. Speaking for myself, putting like $15,000 on your credit card that you can’t pay off is alarming by itself.

It wasn’t until they dived into the topic of how much credit card interest they are paying each month where it finally dawned to the couple that things need to change. Isn’t that kind of crazy that it takes that little detail to get people to change their financial habits? It almost comes back to the general point on how many people don’t like to see other’s benefit where in this case it made them realize how the credit card companies got money from them. Before hand, I guess it is safe to say that they saw the situation as they were the one’s getting the better deal out of the credit card company.

I am almost interested in trying that technique to see if it works on others too for everyone that has an outstanding credit card balance each month. It’s like you don’t even need to go into detail to get people to think about their future. Instead, just show them how companies are making money off of them and it will be an instant change in mindset.