Archive for the ‘Spend Page’ Category

Why are organic strawberries more expensive?

Wednesday, August 3rd, 2011

It can be costly to be environmentally or health conscious. Lots of people say organic products are healthier and more environmentally friendly because they don’t use lots of chemical pesticides or hormones; however, they are typically also more expensive than conventionally-grown products.

Price always boils down to supply and demand. There are simply a lot fewer organic farms than non-organic farms, which makes organic produce rarer and more expensive provided people actually want organic products. Clearly, people do want organic products – as demonstrated by the explosion of marketing for anything and everything organic in recent years – and this marketing could be another big factor in the price.

Companies have done a good job making organics stand out and presenting them as something you want or need to have. Unfortunately for people who grow and enjoy organic products, the very things they like about them also make them more expensive. Hormones and chemical pesticides are cheaper ways to produce bigger crops, so it costs more to make the same quantity of strawberries (or whatever) without all that chemical stuff organic consumers don’t want.

If you want access to a special or different product, you’re going to pay for it. You have to decide for yourself if it’s worth the price.

A Private Label Card is…

Wednesday, August 3rd, 2011

A private label card is a credit card offered by a retailer to be used exclusively at its stores. The cards are usually managed by a financial institution and not by the retailer. It’s like your favorite store stamped its logo on one of your credit cards – it’s still a credit card, it just has a different design (…and you can only use it in one place).

Collaborative Consumption

Tuesday, July 26th, 2011

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(image credit: Collaborative Consumption)

But isn’t that like, communism, man?

Not exactly – people still own things and are making a profit from them, and that’s sort of the point.

Technology (i.e. the internet) is allowing regular people like you and me to share their skills, stuff or space with the world – for profit. New websites and services like TaskRabbit, SkillShare and Airbnb (and even old stuff like eBay and Craigslist) allow people to take advantage of stuff they own or stuff they can do by lowering barriers-to-entry.

But, wait, if, like, everyone can easily buy and sell stuff, isn’t that at least, like, socialism, man?

Not exactly.

The Debt Ceiling is…

Thursday, July 21st, 2011

The debt ceiling is the established limit on how much outstanding debt the United States government can owe. The government is allowed most types of borrowing under the condition that it stays below the debt ceiling.

Previously, Congress had to give the okay for each separate debt issuance that the federal government requested. However, during World War I, it became tiring for the federal government to constantly ask for approval. The debt ceiling emerged so that the government did not have to repeatedly seek permission and could manage its borrowing more freely.

Tax-deferred is…

Thursday, July 21st, 2011

Tax-deferred is when you don’t have to pay taxes on a particular account as long as your money remains in it. You wait to pay the tax until you take the money. Once you withdraw your money, it’s up for grabs and the IRS can begin to tax it.

Retirement plans are a great example. Money stashed away in annuities, 401(k)s, and IRAs is tax-deferred to varying degrees and can grow for decades until you reach your retirement age.

Get Wellthy

Tuesday, July 19th, 2011


(photo credit: Pink Sherbet Photography)

Trying to get wellthy? No, friends, that’s not a typo – according to consumer trend tracker trendwatching.com, a hearty lung capacity and rock hard abs are becoming as important a status symbol as, say, a sweet ride or a fancy new iThing.

Witness:

• People are increasingly ranking physical fitness and health as an important component of their happiness.

• Around the world, people are using more mobile healthcare devices and apps – most of which are purchased by consumers, not doctors.

• Tons of new fitness “toys” – Wii Fit, Sleep On It, the Fitbit – have been hitting the market lately.

Looks like you’ll have to literally keep up with the Joneses these days…

The Economy of Sandwiches

Friday, July 8th, 2011

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(photo credit: Toronja Azul)

We all know eating out is more expensive (and more fattening) than eating in. But how much more expensive, exactly? Intern Anna did a little experiment:

Your stomach is grumbling and you’re trying to decide – do I head out the door or hit the kitchen?

Say you’re craving a good old turkey sandwich. That’s it. And you decide to stay in rather than roam the streets. So you grab…

- 2 slices of bread ( = grainy-goodness), $0.50

- 3 slices of turkey, $0.60

- 1 slice of cheese (the nice stuff), $0.35

- a bit of lettuce, $0.10

- 2 slices of tomato, $0.20

- a squeeze of mustard, $0.05

You’re all set and the total is… $1.80! Head to the local deli or grab a pre-packaged sandwich and you’ll probably be paying $5.00 – or more.

One New York City native really took the plunge and decided to only eat in – ever – and she wrote a book about her experience. She’s still blogging about not eating out in NY.

If you keep sweaters in your stove and have a taste for the gourmet, eating out might be a priority for you. But if you’re not opposed to spending more time waltzing down the grocery store aisles and dancing in the kitchen, eating in could keep your piggy bank nice and heavy.

Conscious Consumerism is…

Friday, July 8th, 2011

Conscious consumerism is being aware of where your money really ends up when you spend it. It’s the practice of purchasing goods and services that the consumer (you) considers to be produced in an ethical manner.

Money leaves a social and environmental footprint wherever it goes. So if a company makes a habit of spilling oil in the ocean or refusing to give its employees benefits, you’re unknowingly saying “yes!” to all that by purchasing their stuff.

On the flip-side, conscious consumers are aware of all this and avoid products that do harm to or exploit humans, animals or the natural environment. They not only favor ethical products but also boycott merchandise and companies that act unscrupulously.

Work Is of Two Kinds

Thursday, June 30th, 2011

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(photo credit: Wonderlane)

Work is of two kinds: first, altering the position of matter at or near the earth’s surface relatively to other such matter; second, telling other people to do so. The first kind is unpleasant and ill paid; the second is pleasant and highly paid.

- Bertrand Russel, “In Praise of Idleness”

We all have to work. Even if we don’t have to work, we have to pretend to work (see, for example, the idle heiress halfheartedly designing handbags and “building her brand”).

So if we need to work, why not be as thoughtful as possible about it? First of all, do you agree with Bertrand’s categories of work? Can you be highly paid and unhappy? Can you be happy taking orders from someone else?

What kind of work would make YOU feel best about the way you spend your days and feed your family? What kind would help you achieve your life goals? Is it the same work?

How many different types of bank accounts are there?

Thursday, June 30th, 2011

It’s pretty simple; once you’ve put your money in a bank, it usually lives in one of four types of accounts:

1. Checking – usually doesn’t earn interest, but the money is easy to access (like at the ATM or when you write a check)

2. Savings – earns a little bit of interest and is usually easily transferable to an attached checking account

3. CD – earns more interest than a savings account, but you agree not to take the money out for a set period of time

4. Money Market – earns more interest than a savings account, but the rate can fluctuate and there may be other account restrictions

It’s important to remember that these accounts are typically used to hold money you need today and the near future. If you have more money and are interested in earning greater return for the more distant future, talk to your financial advisor about other types of investments.