All posts by mindfieldonline

Repair or Replace?

Expert service: the secret is the tongue!
Expert service: the secret is the tongue!

It happens every time you buy anything with moving parts: they ask if you would like to buy the service warranty. Now, I was brought up to believe “That’s how they GET you!” as in, it’s a scam to squeeze more of your money. It can’t be that simple, right? There has to be SOME value to it.

So, Consumer Reports took a look. The first myth they bust is the old paranoid notion that “They make things to fall apart, so you will buy a new one!” Actually, they say overall repair rates have remained the same for years, with some things like LCD TVs and Laptops actually dropping. (Not MY laptop, of course. I’d like to drop it off a bridge.)

Other than that, they don’t show much love for warranty. The chief statistic being: “People with contracts who were offered a free repair or replacement for their product didn’t save much money overall. The median cost for the contract or warranty was $136; the median cost for repairs was $152.” One benefit I CAN see, is that the day you buy the laptop, you may have that money. The day it breaks, you may not. On the other, OTHER hand, they already said that laptop repair rates have been cut in half in the past years. So, who knows?

How do you decide? It may help to know what the likely problems may be for various purchases, and how much they might cost to repair. The article lists refrigerators, ranges, clothes washers, vacuums and more. Really informative read, so check it out!

How about you? Have you ever purchased the service agreement? How did that work out? Let us know over at the MindField Online Facebook page!

Confident Consumers?

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The graphics department nails it again!

When I read a headline claiming that consumer confidence is on the rise, I think that the newspaper should include a coupon for that big grain of salt you need to swallow the news.  That’s the problem today. You read that headline and, depending on your politics, you say, “Well, the New York Times says it, so it MUST (or MUST NOT) be true!”

So, let’s just dispense with all that. Let’s look at the numbers, and then you tell me whether you are “feeling it.” OK? OK!

More hiring and fewer firings this year have helped firm sentiment, setting the stage for a pickup in consumer spending that will probably bolster the economy. Middle-income and wealthier households were among those turning more optimistic last week as stocks rose to a record and gasoline prices stabilized. Bloomberg.com

  • The “Consumer Comfort Index” is at 37.6, the highest since Jan 2009
  • Hiring beat expectations in June, and unemployment is near a 6-year low
  • Auto sales are the strongest since 2006
  • Confidence is up for everybody making at least $40,000 a year, BUT, has dropped for those making less
  • All age groups are optimistic, with over-65’s the most so
  • Optimism increased everywhere but the South

So, those are some of the stats. You can read more at the original piece. So what about you? Are you feeling the rosy glow of consumer confidence or not? Let us know over at the MindField Online Facebook page, and have a confident weekend!

Not-So-Extreme Couponing

I found an old but very useful article at HowStuffWorks.com entitled “10 Extreme Coupon Tips for Normal People.” It was from a time when Extreme Couponing was becoming the big thing (is it still a thing?) and it was fun to point and laugh at the weirdos stockpiling 10,000 rolls of toilet paper.

People making a bizarre consumer religion out of coupons is, well, bizarre. That doesn’t mean that their tactics are useless, however. And that’s the point of the article – to remove the goofiness and pass on some useful tips and tricks. Here are the bullet points (with bonus dumb commentary!

  • Acquire Advanced Couponing Techniques : Newspapers, magazines, online sources of coupons
  • Join in on the Jargon-fest: OYNO? MIR? BOGO? Stackable? Apparently, these words mean something!
  • Turn Couponing into a Cottage Industry : You will need to build a cottage in your backyard to store all of that toilet paper. Just kidding… these are methods of organizing your coupons.
  • Get Familiar with Navigating the Marketplace: Start small by mapping out one store at a time
  • Know Your Rights for Smoother Sailing : Cashiers and managers are sometimes unfriendly to people trying to pay for four carts worth of stuff with 1,000 coupons and six dollars. Imagine!
  • Give Time, Save Money : Couponing requires a big investment of time. Too bad there’s not a coupon for that!
  • Buy in Bulk : And hope that you have the space for it all!
  • Forget Brand Loyalty : Really—what has Captain Crunch ever done for YOU!? I mean, besides defeating Hitler’s navy.
  • Go Where the Sales Are : This will take time and gas money!
  • Buy Items You Use: Or, as the survivalists say, “Hoard what you eat, eat what you hoard.”

For me, the hardest part of all of this is that I really can’t tell you the price of anything. They say people know the prices of 4 things, and I can’t even claim that. I imagine that is a big first step. Anyway, those were the bullet points. MUCH more info at the original piece

How about YOU? Any of these look like worthy tips? Any others you’d like to share? Let us know over at the MindField Online Facebook page!

Fun on the Fourth!

Bar none, the least-read post of the year! So, I will keep it brief. Daily Infographic is a cool resource, always laying out topics in a fun, visual, super-readable fashion. You should check them out DAILY, as their name suggests. Here is their take on Independence Day 2014. Click the pic to embiggen, as they say. July-4th-infographic_final

And here’s the mo-riginal: http://dailyinfographic.com/4th-of-july-cheat-sheet-infographic

How about you? Will you be among the 66% displaying an American flag? The 76% getting together with family? The 26% blowing your fingers off with your own fireworks? Let us know over at the MindField Online Facebook page, and HAPPY INDEPENDENCE DAY!

Wacky Smartphone Habits!

Today, talking pigs do mobile banking. Soon, pig hackers will have your credit card number!
Today, talking pigs do mobile banking. Soon, pig hackers will have your credit card number!

Recently, Bank of America surveyed 1,000 people about their smartphone habits. They were particularly interested in their mobile banking habits – and they got some interesting answers that you can read HERE. But they found even more fun info about mobile habits in general. Check it out:

  • The most important aspect of daily life: Having a car 91% …Having a mobile phone 91% … Using deodorant 91%… Having a TV 76% … Coffee 60%
  • People who “couldn’t last a day” without their phone: 47%
  • People who would “give up alcohol or chocolate” to get their phone back: 79%. As the saying goes, “I’m like a chocoholic, but for booze.”
  • Mobile habits that bug us in others (but are OK when we do it!): While driving 38%, Sharing too much personal information 15%, While eating 7%
  • Thinking about the future of mobile security: Users comfortable with thumbprint security 60%, Voice recognition 33%, Retinal scans 32%, Pigs doing mobile banking 21%. I made that last one up.

More legitimate mobile banking thoughts at the original piece, so take a look. How about you? I know that every time I post a piece about smartphone habits, I get fewer and fewer people proudly huffing, “I would NEVER own a smartphone!” Do any of these habits sound like you? Let us know over at the MindField Online Facebook page!

Now, if you’ll excuse me, I have to take this call…

July’s Best Buys!

july salesA couple of days ago, we reported “Consumer Confidence Hits Six-year High.” I wasn’t so sure about that at the time – you could say I was kind of neutral on the topic. And then, I got some news that kicked my consumer confidence down a flight of stairs.

Anyway, confident or not, everybody appreciates a bargain. And bargains tend to differ from month to month. Here is a brief list of July Bargains, followed by some links. You know, the usual.

July Bargains:

  • Grills
  • Summer clothing
  • Furniture
  • Fresh fruit
  • Shorts
  • Gym Memberships
  • Book August Travel
  • Laptops (Back-to-school sales are the 2nd-best time to buy, after Black Friday!)

So, those are the bullets! Here are the links!

And hey, how about a little self-improvement?

Do you know of any other great July deals? Let us know over at the MindField Online Facebook page, and have a great weekend!

Do-Gooders Pay More?

issuesWould you pay more for a product, or choose one company over another, if you perceived that company as “doing good?” Apparently so…

In Nielsen’s online survey of 30,000 consumers in 60 countries, 55 percent of respondents said they would pay more for products and services from companies committed to positive social and environmental impact.   Business Week

And the age group most likely to do so? Millennials (age 30-ish.) So, what are the issues that these folks care about, enough to reward those companies that feel their pain? Here are the top 8:

  • 67% Increasing access to clean water
  • 63% Improving access to sanitation
  • 63% Ensuring environmental sustainability
  • 62% Eradicating extreme poverty and hunger
  • 58% Combating non-communicable diseases
  • 58% Reducing child mortality
  • 56% Improving maternal health
  • 56% Fighting HIV/AIDS, Malaria, other diseases

The article lists about 20 issues, and gives a lot more rationale, so check it out. What about YOU? Would you pay more for a product, or choose one company over another, if you perceived that company as “doing good?” Which issues inspire you? Let us know over at the MindField Online Facebook page!

Valuable Money Lessons at ANY Age!

financial-knowledgeWhen I got out of college, I immediately got an Elder-Beerman’s credit card (a Midwestern department store – are they still around?) In about five minutes I had already maxed it out – an entire $500! Someone wise (supposedly) told me to get the card, so that I could “start building credit.” I think by “building” they meant “destroying!”

It never got that bad, but I made some key mistakes in my early twenties that took well into my 30’s to straighten out. So, in that vein, we humbly present “10 Things Everyone Should Know About Money”, courtesy of US News Money. Here are the bullets:

  1. You have to earn more than you spend.
  2. Saving early will help you save more.
  3. Higher rewards mean higher risk.
  4. Diversification is your friend.
  5. Protect yourself from scam artists.
  6. Insure yourself against rainy days.
  7. Automate savings.
  8. Minimize your debt load.
  9. Track your credit score.
  10. You’re never done learning.

Sad that SO many of these are totally common sense (I should EARN more than I SPEND?) But kids these days… well heck, we were all kids once. Anyway, a lot more details at the original piece, so you know what to do.

How about you? I told you MY dumb money mistakes, circa 1988, so share some of yours over at the MindField Online Facebook page. And have a great weekend!

Money-saving Grocery Ideas!

Wheeee!
Wheeee!

First, read ‘em and weep: the average rise in food prices lately.

  • Beef: +7% (over last year’s all-time high!)
  • Pork: +7%
  • Lettuce: +34%
  • Packaged Salads: +13%

And just to rub it in, if Iraq goes down the drain, we will be looking back fondly on a $3.60 gallon of gas!

As for food, the culprits are too much rain in some places, drought in others and animal diseases, apparently. What can you do about it? Well, money blog LearnVest has some ideas, the bullet points of which I am happy present…

  1. Make Wednesday your food shopping night
  2. Stock up during deep-discount periods
  3. Forgo the packaging
  4. Know when not to shop organic
  5. Buy the whole cow. (They call it cow-pooling. That cracks me up!)
  6. DIY your produce (i.e., grow your own.)
  7. Buy in season
  8. Join community-supported agriculture (CSA) groups. (Hippie nonsense, or real money saver? YES.)
  9. Consider frozen foods
  10. Buy in bulk

As usual, lots (tons!) more information at the original piece, so do yourself a favor! How about YOU? Feeling the pinch? Are these good tips? Got any to share? Let us know over at the MindField Online Facebook page!

Undervalued Dad?

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As I recall, we got mom EIGHT sliders…

An article out today asks the question, “Are American dads undervalued?” Meaning, is Father’s Day less important than Mother’s Day? It goes on to answer “yes,” and then tries to make a very big deal out of it. Frankly, I don’t know any dads who are offended by this.

The numbers do make the case, however. A survey by the National Retail Federation sampled over 6000 people regarding their Father’s Day spending for 2014. Check it out…

  • $12.5 billion – The total amount spent for Father’s Day
  • $20 billion – The total amount spent for Mother’s Day
  • $113.80 – Amount spent on each dad (husband, grandpa, etc.)
  • $162.94 – Amount spent on each mom (wife, grandma, etc.)

You can read the rest of the report HERE.

So, yeah, we spend more on mom. Why do you think this is? Does this mean we “undervalue” dad? Do you think dad is offended by this? Would YOU be? Let us know over at the MindField online Facebook page, and Happy Father’s Day!