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Prevent β€˜Lifestyle Creep’ from Eating Your Wealth – Barron’s

Prevent β€˜Lifestyle Creep’ from Eating Your Wealth – Barron’s

As college students, many of us become experts at living the frugal life. We cook dinner for friends using the one knife and two pots we bought from TJ Maxx or “borrowed” from Mom’s kitchen. We take the bus, tape broken items back together, and celebrate the luxury of our first apartment without roommates, even if it’s a 600-square-foot studio.

Then our income increases, and certain behaviors become outside our comfort zone. We get used to buying everything brand new and wonder how we ever survived without a $300 blender. We might have fond memories of staying in hostels while backpacking around Europe or Asia, or seeing a mind-blowing Broadway show on a $30 standing room ticket, but we wouldn’t do that now.

NPR

Fed Cuts Interest Rates For First Time Since The Recession : NPR

The Federal Reserve is cutting interest rates for the first time in over a decade — a preemptive move aimed at extending the already record-long economic expansion.

The Fed on Wednesday lowered its target for the key federal funds rate by a quarter percentage point. The move should decrease the cost of borrowing, including for credit cards, auto loans and mortgages.

Well, it delivered the Nixon to the White House in 1972. And worked out quite well for the nation until about 1973.

Where Amazon Returns Go to Be Resold by Hustlers

Where Amazon Returns Go to Be Resold by Hustlers

Every box is a core sample drilled through the digital crust of platform capitalism. On Amazon’s website, sophisticated sorting algorithms relentlessly rank and organize these products before they go out into the world, but once the goods return to the warehouse, they shake free of the database and become random objects thrown together into a box by fate. Most likely, never will this precise box of shit ever exist again in the world. On liquidation.com, each pallet’s manifest comes with suggested prices for each product in a pristine state. If you add them up, the “value” of the box might be $4,000, while the auction price might only come to $200.

While Amazon doesn’t publicly talk about how it chooses which returned products go back up for sale and which go to the liquidators, it does sell some products through Amazon Warehouse at a discount. If it sounds crazy to sell products at massive discounts, consider that goods sitting in a warehouse are a cost. So is the labor necessary to repackage something for resale. If Amazon and other retailers let another company pay them something, they avoid those costs and add some revenue.

Consumer Reports pushes back against hidden fees | WNYT.com

Consumer Reports pushes back against hidden fees | WNYT.com

When Consumer Reports recently asked for opinions on hidden fees, they got an earful.

"Ninety-six percent said they were annoyed with hidden fees they experienced in their lives," says Consumer Reports' Anna Laitin.

Those included fees added when people bought plane or concert tickets, rented a car, or paid phone or cable bills.

"Eighty-five percent of people in the last two years said they noticed a hidden fee in a bill," Laitin notes.

There were so many complaints that Consumer Reports launched a new website asking consumers to share their hidden fee horror stories.