Tag Archives: consumer preferences

Curbing the Impulse

3 Comments

06shopping5Tales of Impulse Buying Horror!

I once knew a girl who bought so much stuff on QVC that they asked her to go on the air and talk to the hosts. She did but, in the middle of the conversation, she remembered that her husband said he would leave her if she bought one more thing on QVC. So she abruptly hung up on air!

I once knew a dude who filled his house with Hoosier cabinets bought at antique stores. He was convinced he was going to someday open a store of his own. There were so many that you had to shimmy sideways down the hall. Otherwise, the house was crammed with other collectible crap because, for some reason, he never thought to put it IN the cabinets!

So, yeah, impulse buying. On a small scale it can be relatively harmless. But when it’s out of control, well, it’s out of control.  For some folks, it’s a serious problem, causing money troubles and conflict in the home. What can you do about it? NerdWallet/ABC News has some helpful hints. As usual, these are just the bullets, with dumb commentary added…

  • Don’t buy with credit (duh)
  • Install a time delay for shopping websites (like, the site won’t load for five minutes after you click.)
  • Make shopping harder (like, when you store all your personal, payment and shipping info on a site to make shopping a breeze? Don’t do that!)
  • Follow the 30-minute rule (just back away…)
  • Unsubscribe from daily deal newsletters (I have wasted SO much money with these)
  • Take advantage of the cooling-off period (You legally have 3 days to cancel)

I like this one, because hey, we’re only human…

  • Keep a splurge fund

Again, much more detail at the original piece, so check it out! How about you do you know any impulse buyers (because, obviously, it’s not YOU)? Is it harmless or out of control? Do you think these tips would help? Let us know over at the MindField Online Facebook page!

ALSO: Shopaholics Anonymous …if you think you need it.

Holiday Shopping Season Begins!

Seriously? For real?
Seriously? For real?

Holiday shopping season is upon us, so let the madness begin! It used to be so simple – around about 5am on Black Friday the doors would fly open and the trampling would commence. Now, the times are all over the place. Kmart is particularly tricky: Open at 6am Thursday, closes at 4pm, opens again at 8pm, closes at 11pm Friday! You get all that? If not, the folks at About.com have compiled a pretty thorough set of lists for Thanksgiving Day and Black Friday store hours, so check ’em out!

Thanksgiving Day Opening Times

(Click the header for a complete listing)

6:00 AM – Kmart (closes at 4pm, reopens at 8pm)
7:00 AM – Big Lots
8:00 AM – Bass Pro Shops
8:00 AM – Family Dollar
9:00 AM – Old Navy
10:00 AM – Gap
8:00 PM – hh gregg
8:00 PM – Kmart
8:00 PM – Sears (stays open until 10pm Friday)
8:00 PM – Toys ‘R Us
8:00 PM – Wal-Mart (stays open until 10pm Friday)

Black Friday Opening Times

(Click the header for a complete listing)

12:00 Midnight – jcpenney (open from 8 PM Thurs thru 9 PM Friday)
12:00 Midnight – Kohl’s (open from 8 PM Thurs thru 9 PM Friday)
12:00 Midnight – Kmart (open from 8 PM Thurs thru 11 PM Friday)
12:00 Midnight – Old Navy (open from 7:00 PM Thurs)
12:00 Midnight – Sears (open from 8 PM Thurs thru 9 PM Friday)
12:00 Midnight – Target (continuous hours from 8:00 PM Thurs)
12:00 Midnight – Walmart (continuous hours from 8:00 PM Thurs)
5:00 AM – Bass Pro Shops
5:00 AM – Lowe’s
8:00 AM – Radio Shack

So, what’s YOUR battle plan? Let us know over at the MindField Online Facebook page! And don’t forget, we did an online Holiday shopping guide a couple of weeks ago. You can check that out HERE.

Saving for a Rainy Day?

1 Comment

family_emergency_fundAdmittedly, for some folks, life is already an emergency. Others are getting by OK, but you never know what’s around the corner. That’s why building an emergency fund makes some sense.  What’s an emergency fund? According to Investopedia.com, and emergency fund is:

An account that is used to set aside funds to be used in an emergency, such as the loss of a job, an illness or a major expense. The purpose of the fund is to improve financial security by creating a safety net of funds that can be used to meet emergency expenses as well as reduce the need to use high interest debt, such as credit cards, as a last resort.

How much do you need to set aside? Dave Ramsey says 3 to six months’ worth of expenses. So, how do you go about it? Here are some links!

What about you? Have you built your emergency fund? If so, did it give you a little sense of security? Let us know over at the MindField Online Facebook page!

November is Financial Literacy Month

1 Comment

Finančna-pismenostWell, in Canada anyway. But good advice knows no borders!!

November is Financial Literacy Month, and that means a deluge of tips from banks, consumer groups and financial industry professional groups and regulators. The Globe and Mail

True enough, but what about regular folks? The Globe and Mail financial editor received some fan mail from an ordinary dude, a retiree who has written a letter of financial advice to his grown kids. You really have to read the whole thing, but here are the bullets…

  • Spread the pain of saving and pleasure of spending over your whole life.
  • Get out of debt and stay out of debt.
  • Come up with a realistic cost of retirement.
  • Leave your home out of your retirement income plan.
  • Hire an investment planner who does not sell any investment products of any kind.
  • Don’t plan for inheritance, lottery winnings or other windfalls to fund your retirement.
  • Diversify.
  • Plan to be in your investments for 50 years or more.
  • Don’t try to time investment ups and downs when buying and selling.
  • Don’t assume everything will work out on its own.
  • Don’t gamble with individual stocks. Buy whole stock markets.
  • Don’t worry if markets crash.

Like I said, MUCH more detail at the original piece, so check it out. So what do you think? Some good advice? Anything you’d like to add? Head over to the MindField Online Facebook page and let us know!

Block-Busted!

2 Comments

blockbuster102810_w500It’s all over the news: video and game rental giant Blockbuster, already slimmed down to about 300 stores, will soon be closing ALL of its remaining company-owned locations. The explosion of digital options such as Netflix and Hulu, as well as those Redbox kiosks at the gas station, are the culprit.

It’s the end of an era. Now, if you’re a Blockbuster employee, this is bad, bad news. But, in the 10 or so articles I have read about this, nobody is particularly surprised and most of them are downright gleeful.

I don’t share the glee, but it’s understandable. My personal take is that there was once a time of independent video stores with “personality.” One might have more indie films while another had more science fiction. One might have a better rental price. One might let you keep the film for 2 nights while another was 3 nights. One might hold midnight screenings of BAD horror films*. In short, there was VARIETY and COMPETITION. Once Blockbuster became the only game in town, that was over.  So what’s left?

Blockbuster will continue its Blockbuster@Home brand to DISH customers, as well as its Blockbuster On Demand streaming service. And an additional 50 Blockbuster stores not owned by DISH (many in Canada) will remain open for the time being.  CNN.com

So, what do you think? Will you miss Blockbuster when it’s gone? How do YOU get your home entertainment these days? Let us know over at the MindField Online Facebook page, and have a great weekend!

*RIP, Precinct 13 Video, Kettering OH!

Online Holiday Shopping Tips!

Um, yeah…let’s not, OK?

As we noted last time, Black Friday is approaching (way to look at a calendar, genius!) It’s a tradition that has undergone some change in the past few years. The deals have crept backwards in time, encroaching on Thanksgiving itself. Now we have Cyber Monday for the online shoppers. And the entire weekend in between is littered with deals, as well.

So, when do YOU hit the digital battlefield? That depends on what you’re after. Thankfully, the folks at DealNews.com have scoured their archives to note what items are the best deal online on which day. Here is a much-compressed list…

Thanksgiving Day/Evening: Smartphones, HDTVs and Gaming Items

Black Friday: Laptops, Computers,  Storage (like flash drives, etc.), iPhones and Kitchenware

The Weekend between Black Friday and Cyber Monday: Tools and appliances

Cyber Monday: Clothing and shoes

MUCH more detail at the original article, so check it out! So, what’s on your shopping list this holiday season? Do you shop online, hit the mall or both? Let us know over at the MindField Online Facebook page!

November Deals!

1 Comment

SavingsThe madness begins. In a few short weeks you will be strapping on your armor and heading into the mouth of madness known as black Friday. And, as we noted yesterday, Black Friday is six days later this year, meaning that the holiday shopping season is cut short by nearly a week. So, if you want to get a jump on things, here is a list of links to tell you where the deals are this November. Enjoy!

End-of-year car deals

A lot of Halloween-expiring deals, but also several that last through the weekend and beyond

November travel deals

November deals on “Weddings, Tools and More” from the Wall Street Journal

Deals & Bargains in November from CBS News

The Best and Worst Things to Buy in November from DealNews

Online tech retailer Newegg announces “Black November”

Insider article on the types of deals to look for in November

So, are you ready to rock? Do you know of other good deals? Let us know at the MindField Online Facebook page! And have a great weekend!

Halloween Safety 2013

These two probably won't get hit by a care. But they WILL get hit by 8th-graders!
These two probably won’t get hit by a car. But they probably WILL get hit by 8th-graders!

As we noted earlier this week, Halloween spending is down in 2013. Here are the stats:

The National Retail Federation expects a 13.75 percent drop in total U.S. spending on Halloween — to $6.9 billion compared with 2012. Adults will spend an average of $75.03.  The Orlando Sentinel

However, as you pinch your pennies, don’t forget to invest in safety for your little goblins! In that vein, here’s a classic bit (as if) from last year, “Halloween Safety for Nerds and Other People.”

This is not so much a consumer piece, other than, as we reported earlier, you’re going to spend $80 per kid this Halloween (2012!) and you would like to get them home in one piece.

When I was a kid, Halloween safety consisted of my dad telling me not to accept any apples, because hippies were hiding their drug needles in them. “That’s it! Now go run in the night streets in your dark gray Batman costume!”

So, to pay it forward, I will share a few Halloween safety tips from the National Safety Council.

Motorists: BE COOL! Seriously, I don’t even have kids, but I spend half the night screaming at the idiots driving 45mph on my street!

Parents: Basically it’s your job to suck all the fun out of it. Make your kids tell you their precise route. Give them a curfew time. And make them wear bright or reflective clothing, even if it ruins their Zombie costume.

Kids: Use some common sense! Don’t go to dark houses. Don’t eat your stuff until mom inspects it and steals the Kit Kats. Carry dad’s best flashlight, which you will surely break. And stay out of the abandoned mill, even if they dare you!

OK, enough sarcasm. You should download the list. There are tons of great tips to keep Halloween safe. The alternative is a “Trunk or Treat” in the middle school parking lot…and nobody wants that!

(photo: springsgov.com)

 

Spending Snapshot, 1973

3 Comments

made_in_1973_personalized_invites-r77027731f425487fb56691e8eb6c1eec_8dnmv_8byvr_512When you compare how much our incomes and spending have changed in the past 40 years, I guess you could say that there’s good news and bad news.

The average person spends 81.2% of his or her post-tax income on food, housing and other expenses, according to ConvergEx Group, a New York-based brokerage. That’s down from the 85% that Americans shelled out for mandatory and discretionary items in 1973. LA Times

  • Household Income After taxes: UP. $9700 in 1973, $63,000 today (adjusted for inflation.)

As a percentage of income, spending in the following categories went…

  • Savings: DOWN. Way down. We put over 13% of our income in the bank in 1973, now a terrible 4.6%!
  • Housing: UP. 15% of income in 1973, 19% today. Partly because the average square footage of a home has nearly doubled since then!
  • Food: DOWN. 19% of income in 1973, 13% today. Of course, family size has shrunk, from 2.9 to 2.5 people.
  • Cars: DOWN. 9.5% of income in 1973, 6.6% today. However, the next item…
  • Fuel: UP. 4.2% in 1973, 5.4% today.

So, it’s a mixed bag. Maybe it just SEEMS like we are paying more and more and more?

Personally, I think these numbers are wack. Like, the size of our homes has doubled, but we’re only spending 20% more of our income for them?  My theory?* They are measuring expenses as a percentage of household income. In 1973, less than 40% of moms worked outside the home.  It’s over 60% today (I looked it up!) So, in 60% of homes, it’s taking two incomes to enjoy a 4% decrease in overall household expenses. Yay progress!

My question to those who remember 1973 is this: what do you think? Do you think we are better off, worse off, or about the same as we were back then? Did Dad and/or Mom work as hard/harder/about the same to pay the bills as we do? Let us know over at the MindField Online Facebook page, and have a great weekend!

*Disclaimer: I’m an English major!

When the Price is Not the Price

2 Comments

Heard of “fluid pricing”? You’re about to!

Theoretically, software can track and identify a potential buyer, look up his past purchases, perhaps even link to his credit rating, Facebook posts, age and income – then make a pretty decent guess about how much he’ll pay for a product. Buffalo News

Odd true-life example. My former hairdresser, a Brazilian lady, charged her Brazilian/Latino customers more – because they have more and thicker hair!

Anyway, fluid pricing (some might say discriminatory pricing) is an age-old tradition – closeout sales, end of season clearance, senior discount, “Ladies Night”, etc. But now they are talking about altering prices by the minute, by the location and by the customer. And it’s all about technology. One more reason you might want to turn off Location Services on your smart phone!

So, what do you think? Should the guy sitting next to you on the airplane pay the same for his ticket as you did? Or is it none of your business? Do you care? A lot of people do – the article quotes a study that says when people find out that they have been “price-targeted” they don’t like it! Give us your thoughts over at the MindField Online Facebook page!