Savings

abundance bank banking banknotes

Photo by Pixabay on Pexels.com

Anyone else notice that banks, the place that needs money more than anyone to do the business of money, does nothing to encourage savings? I mean, well, they do give it lip service but that doesn’t really count.

A bank is a place to put money, to store it or save it. That’s what they were originally created for. It was safer to have it stored in one place where they could keep it safe and then when people needed it they could go there to get it out.

As time went along, the banks figured out they could make money by loaning out the money people deposited with them and then charging interest on the loan, thus making it a profitable venture to store money.

As banks increased the amount they loaned out, they needed more and more people to “invest” with them and they used the new capital to loan more money out. It’s a bit of a vicious cycle, but it makes sense for all involved until…

…until it didn’t make sense to put money in the bank any more.

The interest rate you get from the bank on the money you put in the bank is almost nil. Like far all intents and purposes, it is ZERO. So, what is the benefit of putting money in the bank? Sure, there is the convenience of not carrying around piles of cash or pounds of coins, but is that all?

Banks need capital. You think they’d do something to encourage people to put there money there. I actually deposited a rather large amount of money in a bank that was giving an outstanding rate on CDs (Certificates of Deposit). That’s how a bank should generate capital.

They seem to take for granted that they are just guaranteed business, which maybe they are. Maybe consumers pay no attention at all to the fees or benefits they get from bank to bank, but it does pay to shop around and give business to banks that actually benefit you rather than just use you as an endless supply of currency to feed off of.

We need to be better consumers and actually cause the banks to fight for our money. Let’s bring the competition back and make them beg for our money instead of letting them tell us what we can do with our own money. Make sense?

Who’s with me on this?

Underwhelmed

view under pier in sopot

Photo by Kaboompics .com on Pexels.com

I don’t know if this is possible, but I think it probably is.

Is anyone else so overwhelmed by the Black Friday sales and ads and commercials and flyers and emails….that they are actually underwhelmed?

There is so much! So much. I found myself going through emails yesterday morning and then actual printed ads yesterday afternoon (you know the ones that come in the paper?) and I just found that I was so overwhelmed that I was underwhelmed.

There just wasn’t anything in the ads that made me go, “Whoa! I gotta get that!” Nothing in the ads that made me want to get out of bed, to either go to a store or to shop online.

Anyone else feeling it too?

Small dollar

four white sale boards

Photo by Miguel Á. Padriñán on Pexels.com

Trying to sell your used stuff online is a challenge. I have talked about his before and the trials of unreliable people and people not following though, etc., etc., etc., …let’s just say I guess I like seeing the worst in humanity so I can complain about it. Glutton for punishment maybe?

Anyway, I have several items up for sale at the moment and they are only $5 items. Nothing big, nothing complicated and not looking to make bank.

Yesterday, I had someone contact me about one of those $5 items asking if I could meet him for a sale. If course, he wasn’t in my area and was a minimum of a 45 minute drive away.

Him: “Could you meet me in _________________?”

Me: “Sorry. That is at least 45 minutes away and I am not willing to travel for such a small dollar amount. If you are going to be in ____________________ in the next couple of days I would be happy to meet you.”

Him: “I can’t drive that far.”

Huh? Whatever. Seriously, dude? You’re gonna contact me over a $5 item and have me spend my time and money to bring it to you? Not happening.

These are rhetorical questions and I know the answers already, but “Are people really that stupid? Are people really so wrapped up in themselves that they don’t consider others and what they are asking?”

We are sunk. As a people, a human race, we are sunk.

 

Ain’t a whole new world

taj mahal

Photo by Naya Shaw on Pexels.com

Unfortunately, Disney has found it necessary to continue to grab money by remaking it’s classic animated movies into “live action” movies. It’s rather irritating, really.

I wasn’t a fan of the Beauty and the Beast remake. I saw it on DVD. I am not liking what I am seeing so far for the Aladdin remake. I am optimistically hopeful for the Lion King remake.

Disney continues to make these remakes because they can and people pay money to see them, well, because it’s Disney. Really though, it is just a money grab. I suspect that if Disney made an animated movie, releasing it in February, and then took the exact same movie and made it live action for release in November – well, people would pay to see both. Because, as consumers, we just aren’t that bright.

It ain’t a whole new world. It’s just a rehashed and recycled world.

Wolf in sheep’s clothing

brown wolf

Photo by Steve on Pexels.com

If you have watched any TV, either live or on a paid service, you have probably seen an ad for something that was vague enough to be intriguing but also vague enough to seem just a bit shady.

I saw the commercial again last night and I just gotta think that someone is marketing the hell out of dangerous app. Dangerous? Why? Well, because it is just a pay day loan repackaged to look like something else. I would recommend you stay a long ways away from that app called Earnin. Here is a review, or the BBB, take if for what it is worth.

Now you don’t have to actually walk into one of those Money Tree stores or find the local loan shark to get your legs broken, you can just get money via your phone. Yeah, brilliant. Except that it preys on people, especially low-income people. It just creates a dangerous cycle that is hard to get out of.

**Quick disclaimer: I am not speaking from experience. I am not stupid, or desperate.**

I have known people who get stuck in these cycles and it rarely seems to have a pretty ending. How about we teach people financial responsibility instead of sucking them into spending money they don’t have?

Watch out people. If it seems too good to be true, it probably is. Cliche, I know, but there is a reason these cliches exist.