Archive for the ‘Spend Page’ Category

Super Weird Facts about Money

Thursday, January 20th, 2011

dollar-snail.jpg
credit: RangerRick

Did you know…

- $1 bills have an average lifespan of 22 months, but coins can stick around for as long as 30 years!

- U.S. “paper money” isn’t paper at all – it’s actually made of 25% linen and 75% cotton, the same materials you make clothes out of! Money shirt, anyone?

- Scientists have identified 93 different types of bacteria living on dollar bills! Better have some hand sanitizer handy when you hit the ATM.

- 35 million new bills are printed every day, which adds up to about $635 million dollars. But don’t worry, the government isn’t adding $635 million dollars into the money supply every day – 95% of those bills are used to replace money that has gotten worn out or damaged and needs to be retired.

- Some new Euro coins have so much nickel in them that they cause people to break out in an allergic reaction. Talk about having money problems!

Now you know.

The Starbucks Trenta: Because Bigger Drinks Are Always A Good Idea

Tuesday, January 18th, 2011

“Starbucks Corp. will roll out its biggest drink size yet — the 31-ounce “Trenta” — in all its U.S. coffee shops by May 3, the company said on Sunday. The new size will be available only for iced coffee, iced tea and iced tea lemonade drinks in the United States. The Trenta is 7 ounces larger than Starbucks’ “Venti” cup for iced drinks, which currently is its largest size on offer. Drinks in the Trenta size will cost 50 cents more than similar Venti-sized iced drinks, the company said.”

What do you think?

How much would an extra $0.50 add to your daily iced coffee habit?

The Road from Liberia to Gilt City

Friday, January 14th, 2011

nathan-richardson.png Nathan Richardson is the President of Gilt City, the local child of new (and wildly successful) luxury deals site Gilt Groupe. But he’s more than that. Throughout his career so far, he’s traveled from Senegal to Libera to Yahoo! Finance and Dow Jones. Big-hearted, intelligent and multi-talented (obvs), we’re proud to call him a friend here at TILE.

TILE: What’s it like working for Gilt? Is your wardrobe amazing?
Nathan: It’s a blast – we work really hard, move the ball forward every day, work closely as a team, and get to engage with some of the coolest restaurants, clubs, services and events in the hottest cities in America. Fair to say my wardrobe has been upgraded and the number of hoodies and fashion sneakers that I own multiplied like a gremlin.

TILE: In your career, you’ve worked at a bunch of different companies – from Citibank to Yahoo! Finance to Dow Jones online. How have these different experiences helped you in your current job?
Nathan: Every experience taught me a different set of skills that play into the diverse hats that I wear in a given day [at Gilt]. I learned about financial mechanics at Citi, about moving fast and being only as good as what you did that morning at Yahoo Finance (a healthy paranoia), and about the importance of brand & voice at Dow Jones.

TILE: You’re very accomplished in the business world, but you’ve also taken the time to help others – both in the Peace Corps and as the director of the International Rescue Committee’s Liberia Program. How do you balance these two passions?

Nathan: I joke that I am a humanitarian to fashion people – providing them great value on the luxury items that they have to have! All of my experiences have several things in common: the pace, the energy, and the need to be fully committed in a way that transcends a 9 to 5. I also stay involved with my Peace Corps family and the artisans I worked with at the Artisan Village of Thies. I’m also a big fan of the IRC’s work in Liberia, and I’ve returned several times to check in on projects that I am passionate about.

TILE: What’s the Peace Corps like? Would you recommend it to someone graduating from college?
Nathan
: Loved my experience in the Peace Corps – it is one of the toughest jobs you’ll ever love as the tag line says. I gained exposure to projects and accomplished more in those 2.5 years than you can imagine  – as well as gained lifetime best friends.

The Peace Corps’ three goals are to share American culture with the host country; learn about the host country culture and share it with America (Senegal is amazing!); and technical transfer – I was a small business volunteer with several serious projects.

TILE: What’s the best advice you would give to your teenage self?
Nathan: Wow – that’s a tough one. I would probably say broaden your horizons earlier, learn a language, and love the moment a bit more. What do I mean by that? I wish I’d learned Chinese and studied in China at an early age and also remembered to celebrate all the amazing things that were going on around me…

>> TILE brings you exclusive opinions, explanations, and interviews from experts in every industry. To read more, click on Ask the Experts in the TILE Library.

Have a burning question or an expert you’d like to see interviewed? Just Ask TILE!

Do you spend real money on unreal things?

Friday, January 14th, 2011

Apparently a lot of teens do! Check it out: http://bit.ly/iiJFbK

That Custom-Made Suit Is Going To Cost You

Wednesday, January 12th, 2011


credit: John_Brennan

If you’re not sure what inflation looks like in real life, try asking your tailor. Having suits and dresses made to order in Hong Kong or Singapore used to be the secret to looking good on a budget. But all that is starting to change. Here’s why:

1. Inflation! The apparel industry has been safe from inflation for a long time, but fabric today is more expensive than it was a few years ago. In 2010 alone, the price of cotton in Hong Kong went up by 91%. More expensive materials = a more expensive product.

(And because inflation generally raises prices across the board, tailors are demanding higher wages so they can keep up with the cost of everyday living.)

2. Consumer demand! More people have the money to order custom clothing these days, and tailors and materials are in short supply. That means more work for tailors, and a higher price tag for customers. In other words, the supply of materials and producers has stayed the same, but the demand for finished products has increased. When demand exceeds supply, you’ve got a price increase on your hands.

New Prices:

  • A custom suit made in Singapore with expensive luxury fabric runs about $5,400. A similar suit by an Italian producer might cost $10,000.
  • In 2009, a custom shirt from Singapore cost $177; today it would cost about $330.

“We’re so busy that we’re having to turn some people away.” – Mark Cho, Co-Founder of The Armoury in Hong Kong

This one’s for the geeks: Debtris

Tuesday, January 11th, 2011

From our heroes at Information Is Beautiful, a Tetris-inspired re-imagining of the Billion-Dollar-o-Gram.

Grounded Jets, Space Jets(!), and Misleading Celebrity Tweeters… TILE Two-Liners 1.10.11 >> 1.14.11

Monday, January 10th, 2011

MONDAY

  • “Cupcake leader” Crumbs (a chain of bakery shops) was just sold for $66 million, proving that the American epidemic of childhood obesity *can* be profitable. (The Wall Street Journal)

TUESDAY

  • Radiohead just keeps on flipping the music industry script. They’re allowing a group of fans to sell a bootleg concert DVD made up of clips secretly shot by 14 different audience members. The catch? All profits have to go to Oxfam. The concert was, after all, a benefit for Haiti. (BBC News)

WEDNESDAY

  • Someday, someone will literally fly you to the moon and let you play among the stars. For a price, of course. (BBC News)

THURDSAY

  • Don’t believe everything your favorite celebrities tweet: They may be on an ad agency’s payroll. (Bloomberg)

FRIDAY

  • If you thought this winter’s snowstorms were annoying for your family, think about the airline industry, which lost over $100 million because of cancelled flights. (The Wall Street Journal)

Sneaky Tricks Debit Card Companies Play – And How To Play Them Back

Friday, January 7th, 2011

The man behind the Your Money column in the NYTimes gives a fast-moving and really useful explanation of debit and credit cards. Understanding the difference and some features of each can potentially save you a few hundred bucks a month – money you can surely put to much better use.

Feed your head, not your bank’s overdraft fee collectors.

Budgeting 101

Thursday, January 6th, 2011

Wicked Discounts, Cardigans, and Remote Controls… TILE Two-Liners 1.3.11 >> 1.7.11

Wednesday, January 5th, 2011

MONDAY

  • His house may be “reminiscent of a Provençal villa,” but our former U.S. Treasury Secretary still lost a million dollars when he tried to sell it. (Reuters)

TUESDAY

  • For those of you who still use a television, Netflix wants to make streaming movie access as brainless as possible. (The Wall Street Journal)

WEDNESDAY

  • Have an extra $3 billion lying around and a taste for preppy clothes? Then you can compete with Sears and Urban Outfitters to buy J.Crew! (The New York Times)
  • MySpace to lay off 1,100 employees. In other news, MySpace actually has 1,100 employees to lay off. (The Wall Street Journal)

THURSDAY

  • If you’ve held out on buying an iPhone 3GS this long, congratulations. They’re now 50% off. (The Wall Street Journal)

FRIDAY

  • If your mom suddenly seems to know too much about your personal life, you may be the latest victim of Misdirectedtext-gate. (BBC News)