- RT @ramseyshow: RT @E_C_S_T_E_R_I_: "Stupid has a gravitational pull." -D Ramsey as heard n NPR. I know many who have not escaped its orbit. #
- @BudgetsAreSexy KISS is playing the MINUTE state fair in August. in reply to BudgetsAreSexy #
- 3 year old is "reading" to her sister: Goldilocks, complete with the voices I use. #
- RT @marcandangel: 40 Useful Sites To Learn New Skills http://bit.ly/b1tseW #
- Babies bounce! https://liverealnow.net/hKmc #
- While trying to pay for dinner recently, I was asked if other businesses accepted my $2 bills. #
- Lol RT @zappos: Art. on front page of USA Today is titled "Twitter Power". I diligently read the first 140 characters. http://bit.ly/9csCIG #
- Sweet! I am the number 1 hit on Ask.com for "I hate birthday parties" #
- RT @FinEngr: Money Hackers Carnival #117 Wedding & Marriage Edition http://bit.ly/cTO4FU #
- Nobody, but nobody walks sexy wearing flipflops. #
- @MonroeOnABudget Sandals are ok. Flipflops ruin a good sway. 🙂 in reply to MonroeOnABudget #
- RT @untemplater: RT @zappos: "Do one thing every day that scares you." -Eleanor Roosevelt #
Financial Pet Peeve: Fees To Receive Paper Bank Statements
Today’s post is written by Tim of Faith and Finance. It was written for a blog swap run by the Yakezie personal finance blog network to answer the question “What is your biggest financial pet peeve?“
Chances are, you’ve probably received a few notices from your bank or investment company about receiving e-statements. I’m all for getting less mail, and having online access to my statements is a really nice feature. In fact, most of my statements are online now.
So why is it a pet peeve if I LIKE viewing statements online? Here’s why: If you don’t get the online version of your statements, many places will charge you for the paper statement. My bank (which will go unnamed) pulled this very move. If you want to receive paper statements you had to pay a few dollars each year for the ‘service.’ Now I understand that printing statements costs money, but what bothers me the most is that the bank continues to send junk mail even though I opted in to the e-statements.
It seems a little impolite to say “You have to stop using paper…but we’ll keep sending you stuff you don’t want in the mail.” Each time they send me something in the mail promoting a new product or those goofy cash advance checks, I think about how much money they’re NOT saving.
***Ok ok, I’ll stop ranting. That’s what happens when you’re challenged to write about a pet peeve…you get a little excited. 🙂
Solutions to the problem
I’m a firm believer that if you’re going to complain about something, you should be willing to suggest alternatives, so here’s what I’d do differently if I were the banks.
- 1. Don’t punish for paper statements, incentivize for online statements
If you want to connect with people online and save money in the long run, provide an incentive to make the shift to online statements. Money and interest rates talk, so maybe provide $5 plus access to a higher paying certificate only available for our online banking members.
- 2. Consolidate the message.
If people want to get paper statements still, don’t charge them – instead, use the statement envelope to promote your products. The envelope is already paid for, so why not use it for marketing purposes. Now I know they’ll say, “people don’t read statement stuffers.” To that I’d say, “what makes you think they’d read a dedicated mailer then?”
Those are my two cents. Has anyone thought the same thing? How do you feel about paper statements vs. online statements?
[Jason’s note: There is a fee that irritates me a lot more than paying to get a paper statement. I hate “online access” fees. Those are the fee where you get charged for other people doing less. They are usually called convenience fees or, in the case of government, technology fees.]
Tootsie – Does Beauty Have to be Expensive?
Many remember Dustin Hoffman dressed in drag in the classic film Tootsie, a movie that he now says made him realize how many women he’s missed out on meeting in life simply because he judged them by their looks. Every year women spend thousands of dollars on beauty products and cosmetics, hoping to increase their appearance and become attractive enough to the outside world. Although there are various degrees of beauty, it undoubtedly is usually determined by the amount of money spent to enhance features and upkeep the overall look.
Although natural beauty does exist in our society, it is few and far between to find a woman who needs a minimal amount of makeup and hair product to appear beautiful enough to meet society’s standards. Styled, highlighted hair is crucial for an attractive look, requiring professional services to be done on the hair by a salon. Although it may be cheaper to spend $5 on a box of hair dye at the supermarket, the hair won’t look as full or healthy without a professional technique applied. A woman’s hair is bound to look more attractive by spending the extra $100 by visiting a stylist who knows their craft.
The length of a woman’s hair often creates a more attractive look in the U.S., which is difficult to achieve with flat irons and curlers that create breakage and brittle hair from the heat. Women are now resorting to having hair extensions installed every three to five months to achieve beautiful hair that has a fuller texture and longer length, costing an average of $700. They can resort to shorter hair that saves a large amount of money, but they’re ultimately compromising a large part of their looks.
There’s a reason that celebrities appear more beautiful than the rest of the population, as their high school photos often show them to look like typical people. By spending thousands of dollars on personal trainers, stylists, and makeup artists, their appearance is immediately enhanced with the finest tools and products on the market. They are also able to have help with experts who have more knowledge on what creates the best look for their features.
Although beauty does not have to be expensive (just look at exotic women in Columbia and Brazil who are anything but high maintenance), it unfortunately is a requirement in the U.S. where rich housewives rule the reality shows and runways. True beauty is often defined by breast and waist sized, which few women can live up to, resulting in thousands of dollars spent on breast implants and liposuction, often impossible to attain otherwise.
Beauty may be in the eye of the beholder, but few men will argue that Angelina Jolie is unattractive or that Heidi Klum looks homely. The majority of men can agree when a woman is beautiful, and few women catch attention with a homemade manicure and dyed hair that came from a box. Perhaps going au natural will become a new trend in the coming years, but for now it’s expensive to be a woman, and even more costly to be a beautiful one.
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Twinkies: A Failure of Unionization
Twinkies may survive nuclear warfare, but the iconic sweet treat ultimately couldn’t withstand the might of the unionized workforce. Faced with mounting losses and overwhelming debt, due in no small part to the relentless demands of the various unions representing the nearly 19,000 employees, Hostess Brands filed bankruptcy for the second time in January 2012 and ultimately requested permission to liquidate it’s assets in November of last year when a buyer failed to materialize. While many factors played a part in the demise of the maker of such all-American snacks as Ding Dongs and Ring Dings, as well as childhood favorite Wonderbread, there is no denying the fact that costs imposed by union contracts were a major factor in the shuttering of this once-beloved company.
While there is certainly plenty of blame to go around, the simple fact is that nearly 97 percent of the company’s unsecured claims were from employee pension funds, according to the Chapter 11 filing. How did those claims arise? Simply put, the skyrocketing pension expenses were caused by the unions continuing to push for overly generous retirement rewards despite overwhelming evidence that the company could never sustain those costs. True, the unions did agree to considerable concessions prior to and even following the first bankruptcy filing in 2004. However, that was only after union officials had pushed wages and other benefits into the stratosphere, even though Hostess has been struggling for years to remain competitive.
Certainly America’s changing eating habits, increased competition from such companies as McKee Foods, makers of Little Debbie snack cakes, and rising commodity costs all contributed to the ultimate demise of Twinkies. There is no doubt, though, that union contracts inhibited the company’s ability to adapt and make the necessary changes to remain profitable. Not only were employee costs out of control, ridiculous union rules made it nearly impossible for the company to make money. These are just a few of the rules that hampered Hostess’ management:
- Twinkies and Wonder Bread could not be delivered on the same truck.
- Drivers could only deliver one product, even if they did not have a load and a load of another product was waiting to go out.
- Drivers could only drive. They had to wait for loaders to fill their trucks.
- Likewise, loaders could only handle one product. Their contract prohibited a Twinkie loader from helping out if the Wonder Bread loaders were shorthanded.
Yes, management agreed to these terms, but often they were forced to do so in order to prevent a costly strike. In fact, it was a labor strike that lead to the decision to liquidate.
Unions are meant to protect workers from dangerous working conditions, overbearing management and unfair labor practices. Ensuring a living wage and decent benefits is another of their responsibilities. However, it is evident that in this case, the unions became as much an enemy of the Hostess employees as of the company’s management. As a result of their unwillingness to compromise and make wage and benefit concessions, almost 20,000 people no longer have a job that needs to be protected. In the end, the unions drove not only the company but themselves out of business.
Not to fear, however. Two private equity firms acquired Hostess’ assets last fall and are beginning to turn the company around. Production of Twinkies began again in June, and the gooey sponge cakes returned to store shelves on July 15. The workforce has been dramatically reduced and will not be unionized. In the end, probably the only winner in this battle is America’s sweet tooth.
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WWE: Money in the Bank, or all Hype?
Most people will never realize what it’s like to lose $350 million in a single day, but if you’re Vince McMahon you know the feeling all too well. However, before you start collecting money to give to the WWE CEO, let’s remember that despite that setback he’s still worth a cool $750 million. So while he got knocked out of the billionaire’s club, he’s still a full-fledged member of the multi-millionaire’s club.
World Wrestling Entertainment, thinking anything it does is money in the bank, has been busy lately securing television deals for its various programs such as Raw and Smackdown. While Mr. McMahon got the deals finalized with networks owned by NBCUniversal, the price he got was considered by analysts to be far lower than what he was looking for. As a result, WWE stock prices plunged nearly 43 percent in a single day, costing Vince his billionaire club card.
However, despite the rough financial spot in the road, don’t think the WWE is ready to tap out anytime soon. The WWE Network, an on-demand streaming service launched by the company earlier this year, is already approaching one million subscribers. Despite what will probably be an initial loss of $50 million for the fledgling network, McMahon and other WWE executives believe the network will eventually become a money-maker for the company.
So while Triple H, the Rock and John Cena have helped make the WWE what it is today, there are many other superstars who are helping take the company to even greater heights. In recent years, perhaps none are more well-known and liked than the company’s Divas. Whoever said sex sells sure knew what they were talking about, because it seems the wrestling fans simply can’t get enough of the beauties who fight it out every week for glory and gold. With the show Total Divas on the E! Network for the next several years, fans will continue to get their weekly dose of the ring beauties there as well as on the other shows in the WWE camp.
So while it’s not money in the bank that all of the company’s ventures will pan out as hoped, it’s a good bet Mr. McMahon and those associated with the WWE will continue to figure out what fans are wanting and deliver it to them on a regular basis. And whether or not you are a wrestling fan, you’ve got to admit the WWE is a captivating experience in sports entertainment that keeps fans coming back for more each and every week.
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Does Amanda Bynes Need a Conservatorship?
The publicly documented downward spiral of Amanda Bynes may be reaching its breaking point. She has been on psychiatric lockdown for the past three days, and her parents are petitioning for conservatorship in California
on the grounds that they believe she is suffering from acute schizophrenia. They claim that the troubled starlet is unable to make safe decisions regarding her own well-being, not to mention the safety of others. The issue is complex, but the former childhood star has demonstrated that she meets the criteria to have external guardians instated to protect her from unpredictably irrational behaviors.
This development is the latest in a long saga of antics for Bynes, and the recent news report inserts a tragic twist into her somewhat comedic downfall. She had a pristine public persona only a year ago; however, at this time, she was caught publicly smoking marijuana. No one expected this incident to escalate, and it was treated like an innocent youthful infraction; however, the act recently turned criminal when she was reported for smoking in the lobby of her apartment complex.The comedian ran from the arriving police officers, and hurled a large cannabis apparatus out of a skyscraper window. The water-pipe was never found, but it presumably shattered upon impact. Bynes was incarcerated by the New York Police Department. During this time, the actress accused law enforcement of sexual assaulting her in a very lewd manner. Her absurd claims were never substantiated. The case against her is pending, and she has been evicted from her residence.
This was not the first criminal case against Bynes; she is also dealing with hit-and-run allegations in California. It was also not her last interaction with the police. Most recently, the actress doused an elderly woman’s driveway in gasoline and set it ablaze. She accidentally covered a puppy in the flammable liquid, so she ran down the block looking for something to save the animal from catching fire. After ransacking a convenience store, officers accosted her. The exchange resulted in the psychiatric hold that has been placed on Bynes.
Unfortunately, grounds for conservatorship can be exceedingly challenging to meet. Clear proof of mental illness needs to provided, and the standards are rigidly strict; however, if anyone has showcased the fanatical craziness that constitutes a lack of personal responsibility, it is Amanda Bynes.
Her schizophrenia is no longer dormant. The actress has become obsessed with plastic surgery, and she has deformed her face with cheek piercings. She uses online social networks to decry public figures for their ugliness. Victims of this attack include even Barack and Michelle Obama. Furthermore, she makes offensive sexual remarks towards rappers, and she wants to be a hip-hop artist herself. She has spent fortunes on a wig collection, and she employs a different style at every court appearance. The actress even used one as a disguise for an incognito trip to a trampoline emporium.
Anyone that has seen her Nickelodeon program would not be shocked to learn that she was schizophrenic. The role had her switching between dozens of identities for different skits, and she even played a character that was, in effect, obsessively stalking the star herself. “The Amanda Show” was neurotically fast-paced. Ultimately, the entire program can now be viewed as an eerie foreshadowing to the budding of a latent psychological disorder. If the legal standards of insanity are not met, then she will be free to wreak havoc on herself and others.
