I recently re-downloaded the Michaels app while I was in the Michaels checkout line just so I could apply a $5 coupon that the register failed to read from the app anyway.
There’s your problem right there.
Does this author not understand how dumb this makes him look? You downloaded an entire app, in the checkout line, for a $5 coupon on something you were likely overcharged for in the first place?
Even when you’re lacking in a store-specific app, your apps will let you pay by app. You just need to figure out (or remember, if you ever knew) whether your gardener or your hair salon takes Venmo, Cash App, PayPal, or one of the new bank-provided services such as Zelle and Paze.
If only there was a universal form of payment that you could keep in your pocket and pull out to use anytime with very minimal interaction. Maybe a card or something.
Apps are all around us now. McDonald’s has an app. Dunkin’ has an app.
Why are you using them?
Every chain restaurant has an app. Every food-delivery service too: Grubhub, Uber Eats, DoorDash, Chowbus.
Why are you using all of them??
Every supermarket and big-box store. I currently have 139 apps on my phone. These include: Menards, Home Depot, Lowe’s, Joann Fabric, Dierbergs, Target, IKEA, Walmart, Whole Foods
Why the fucking hell do you need any of these?!
This is literally the 2024 equivalent of your mother having a dozen toolbars in Internet Explorer because she kept clicking on coupons.
Just go to the place, pull out your credit card, pay the cashier, and leave. How the hell does any functioning adult blame the technology when they have this little self control?
People who are proud of getting a good deal via an app break my heart. Most folks I know like that are not strapped for cash. They just like the feeling of getting a bargain. They don’t consider that the prices are artificially inflated. They don’t need the sale item. And in the long run they’ll probably end up paying more when the stores know their purchasing habits and have A/B tested them enough to know how to provide as little as possible while charging as much as a customer can stomach.
If a coupon requires an app, I don’t by that item. Especially when it comes to groceries. When it comes to store cards, most let you use a phone number instead of scanning the card. So plug in a random number at checkout. You can often get a hit on the first try. Then pay in cash. Dirty up someone else’s data and give these stores nothing on you. Seriously, if people keep giving in, it’s guaranteed to get worse. First the store card, then the app, what’s next?
Most folks I know like that are not strapped for cash.
Whoa. What group do you run in? Literally everyone I talk to on a daily basis is.
I actually just thought through an average day, and the people I talk to regularly. I’ve had conversations with each and every one of them over the past few months about how we’ve had to make major changes to our lifestyles in one way or another because the money is going out faster than it’s coming in. We’re all solidly middle-class, for whatever that means anymore.
So what circles are you in where not everyone is looking for every possible discount they can get? Saving $5 on groceries means I can afford another gallon and a half of gas. I can’t afford to be principled about privacy when those are the stakes. But it doesn’t mean I have to like it.
For sure, but like…I’m a middle-aged software engineer in a low cost-of-living area. My parents always had enough on one income, but we’re struggling on two.
I’m similar, but probably a bit younger. I make a good salary now (I’m in a leadership position), but the people on my team are a bit more “average.” Software engineering will have a higher than average salary, but I’m talking $80-120k for the people who work for me in an area where the median income is $70-80k ($80-120k), and most are single or single-income.
There’s a pretty stark difference between those who are financially stable and those who… aren’t. I don’t have everyone’s salary, but here’s what I see:
financially stable - drive older car, own house, wardrobe is simple, hobbies are inexpensive, no extravagent trips
financially unstable - drive late model car, rent, nicer clothes, more expensive hobbies, yearly international trips
Notice I didn’t say anything about income. Some of the financially unstable people have a much higher income (probably double the range above), and some of the financially stable people have a much lower income (e.g. one of my employees is single and just bought a house in a pricier area, while being at the bottom of the income range).
I obviously don’t know your income or situation, but I think most people can do much better than they are without changing their income. And the more financially stable you can be, the more “quiet” confidence you get (i.e. you’re not distracted by when payday is), and the more likely you are to get that promotion or better paying job. Success tends to breed success.
Check out The Millionaire Next Door, which gives lots of examples about how wealthy people tend to be frugal and careful with money. There’s not really any secret sauce here, just delayed gratification and discipline. Obviously a $100k salary will go a bit further than a $50k salary, but even a median income can rocket you to an upper-middle class/lower-upper class retirement if you manage it carefully. I’m happy to walk through a scenario if you like, but that’s a bit off-topic for this community and is probably better for one of the PF communities.
That makes a ton of sense. To add some numbers to it:
$1k in the bank - should be enough for any one emergency
1 month e-fund - no longer impacted by payday being late
3 month e-fund
Getting to step 1 can be very difficult, especially for the lower class, but $10 or $20 at a time can get there. But it needs to be intentional, and that’s really hard when working two (or three) jobs, so many just don’t put in the consistent effort needed to get there. But once that first buffer is there, the rest becomes a lot easier since you’re no longer getting pushed backwards.
I disagree strongly that $1k is enough for any one emergency. My healthcare deductible is higher than that. The last two times I’ve needed car repairs, the bill was $2-3k to get the thing back on the road. If one of our appliances breaks down, we might be able to replace it for $1,000 if it’s the dryer or the dishwasher, but if it’s the fridge, that’s not close to enough.
$1,000 was plenty when I was in college back in the mid-00s, but I was single with no kids. That’s just not a realistic emergency fund in 2024, and even less so if you have a family.
And it fucking SUCKS in the beginning, because for a very long time it keeps getting wiped out by emergencies. But the more emergencies you weather, eventually the fewer you’ll have, and your buffer will grow.
Emergency funds are the most important tool for financial stability (after securing a living wage).
Honestly, what you see isn’t familiar to me at all. The people I know are very good at being frugal and wringing the last out of every dime, not being extravagant or frivolous, etc. We have no car payment on our ten-year-old minivan, own our home, and haven’t been clothes shopping in years except to replace things that wear out, that sort of thing.
The problem isn’t budgeting; we have a budget, and we stick to it pretty well. There are very few things we could cut, and doing so might save us a hundred or so dollars per month. The problem is that inflation has eaten up every dollar from my paycheck we used to have in surplus. The problem is that my salary hasn’t kept up with inflation and nobody else around here is hiring.
Yes, you can budget yourself from the top of one financial class into the bottom of another one; and you can manage money poorly enough to drop from anywhere to the bottom of the heap. But that doesn’t change the fact that there is a significant financial crunch happening for most people in the world right now.
Seems like everyone has their own preferred explanation as to why that’s happening (corporate greed vs. government overreach), but the fact that it’s happening seems pretty clear.
Yes, that certainly is a problem. Salary increases tend to lag inflation a bit, so you’d either need to switch jobs or wait to get caught up.
That said, wage growth has exceeded inflation for the last year and a half or so, so hopefully you’ll get a yearly salary bump to help out. Our salary bump was higher than usual last year (about 5%), but still below inflation (8-9%), and I hope our salary bump this year will fix that (4% would be enough to catch back up).
But the fact that you’ve been able to stay financially stable despite high inflation means you’re probably closer to “The Millionaire Next Door” than the average Joe drowning in credit card debt. If you can stay out of debt and put money away for retirement every month, you’ll be doing fine in your 60s when you’re looking at retirement.
you can budget yourself from the top of one financial class into the bottom of another one
Sure, if you follow the average advice (save 10%), then yeah, one bump-up is essentially expected. But if you’re more aggressive, jumping up more than one level should be feasible.
This video talks about economic classes, and the portion I linked shows how you can go from $65k/year salary (middle middle class) to lower upper class by age 50 by just investing 10% of your income. So this is essentially middle middle-class to lower-upper class. If you do 40 years instead of stopping at 50, you’d have $3M by retirement age. If we account for 2% inflation, you’d have about $1.7M in today’s dollars, which is almost to upper upper class. If you bump to 15% of your income, you end up with $2.6M after taking inflation into account, which is in that upper upper class range. So with just a median household salary, you can have an upper upper class retirement.
People who are proud of getting a good deal via an app break my heart. Most folks I know like that are not strapped for cash. They just like the feeling of getting a bargain. They don’t consider that the prices are artificially inflated.
Thats why Prime Day is such a big deal.
People think they are getting awesome deals cause its 50% off, are not going and checking price trackers to see the item had a HUGE price spike a week before Prime Day.
But they think they got 50% off and that gives them that massive dopamine rush, and that encourages more spending.
The Lowe’s app is actually really handy. You can look up any item and it will tell you the exact isle and bay it’s in for your store. No more wandering around or hunting for an employee to ask. It’s the only store app I actually keep on my phone.
Honestly, if there were a simpler way to sell their personal data to retailers for people who want to do so, that probably would be more appealing for the users.
Yup, I have none of them, and I still get a pretty good deal.
Most of my spending is at Costco, and they send me a paper ad once/month, which I’ll go through and add relevant stuff to my list (in a separate app). But even if I don’t get a discount, their prices are still better than most (e.g. eggs are normally $2.50 or so per dozen, whereas the grocery sells them for $4+). If I’m going to spend more than normal, I’ll check a few sites before going out (or ordering online), and sometimes I’ll ask the store clerk to price match to avoid multiple stops. The one place I have an app for is on my old phone, and it’s for Target because they actually have decent sales sometimes. I don’t check very often, but I will when I’m going to go buy a bunch of gifts for birthdays or holidays or whatever (and again, I’ll check multiple sites first), and I use the 5% off w/ the Target debit card.
I literally don’t bother with any loyalty programs. My grocery store’s loyalty program isn’t needed for discounts, it’s only for a discount on gas at some gas station I don’t go to (and isn’t even next to the store). There’s another with a better loyalty program (they have their own gas stations), but they’re further away and it would cost me more in gas to go there than I’d save.
So if we need something, we’ll look for coupons or whatever before setting out, we don’t use an app or loyalty program. I’m pretty sure we end up wasting a lot less money this way.
Sorry, I don’t know what that means, I don’t have Tiktok. I’m talking about the whole article being vapid, just multiple paragraphs that are lists of apps:
It could be Class Dojo, Brightwheel, Bloomz, or TalkingPoints. It could be ClassLink, SchoolStatus, or PowerSchool.
Is it like brand name dropping to keep people’s attention or something?
There’s your problem right there.
Does this author not understand how dumb this makes him look? You downloaded an entire app, in the checkout line, for a $5 coupon on something you were likely overcharged for in the first place?
If only there was a universal form of payment that you could keep in your pocket and pull out to use anytime with very minimal interaction. Maybe a card or something.
Why are you using them?
Why are you using all of them??
Why the fucking hell do you need any of these?!
This is literally the 2024 equivalent of your mother having a dozen toolbars in Internet Explorer because she kept clicking on coupons.
Just go to the place, pull out your credit card, pay the cashier, and leave. How the hell does any functioning adult blame the technology when they have this little self control?
People who are proud of getting a good deal via an app break my heart. Most folks I know like that are not strapped for cash. They just like the feeling of getting a bargain. They don’t consider that the prices are artificially inflated. They don’t need the sale item. And in the long run they’ll probably end up paying more when the stores know their purchasing habits and have A/B tested them enough to know how to provide as little as possible while charging as much as a customer can stomach.
If a coupon requires an app, I don’t by that item. Especially when it comes to groceries. When it comes to store cards, most let you use a phone number instead of scanning the card. So plug in a random number at checkout. You can often get a hit on the first try. Then pay in cash. Dirty up someone else’s data and give these stores nothing on you. Seriously, if people keep giving in, it’s guaranteed to get worse. First the store card, then the app, what’s next?
Whoa. What group do you run in? Literally everyone I talk to on a daily basis is.
I actually just thought through an average day, and the people I talk to regularly. I’ve had conversations with each and every one of them over the past few months about how we’ve had to make major changes to our lifestyles in one way or another because the money is going out faster than it’s coming in. We’re all solidly middle-class, for whatever that means anymore.
So what circles are you in where not everyone is looking for every possible discount they can get? Saving $5 on groceries means I can afford another gallon and a half of gas. I can’t afford to be principled about privacy when those are the stakes. But it doesn’t mean I have to like it.
I think age / location / profession have a lot to do with what socioeconomic circles people run in.
Not to mention luck of the draw.
For sure, but like…I’m a middle-aged software engineer in a low cost-of-living area. My parents always had enough on one income, but we’re struggling on two.
I’m similar, but probably a bit younger. I make a good salary now (I’m in a leadership position), but the people on my team are a bit more “average.” Software engineering will have a higher than average salary, but I’m talking $80-120k for the people who work for me in an area where the median income is $70-80k ($80-120k), and most are single or single-income.
There’s a pretty stark difference between those who are financially stable and those who… aren’t. I don’t have everyone’s salary, but here’s what I see:
Notice I didn’t say anything about income. Some of the financially unstable people have a much higher income (probably double the range above), and some of the financially stable people have a much lower income (e.g. one of my employees is single and just bought a house in a pricier area, while being at the bottom of the income range).
I obviously don’t know your income or situation, but I think most people can do much better than they are without changing their income. And the more financially stable you can be, the more “quiet” confidence you get (i.e. you’re not distracted by when payday is), and the more likely you are to get that promotion or better paying job. Success tends to breed success.
Check out The Millionaire Next Door, which gives lots of examples about how wealthy people tend to be frugal and careful with money. There’s not really any secret sauce here, just delayed gratification and discipline. Obviously a $100k salary will go a bit further than a $50k salary, but even a median income can rocket you to an upper-middle class/lower-upper class retirement if you manage it carefully. I’m happy to walk through a scenario if you like, but that’s a bit off-topic for this community and is probably better for one of the PF communities.
I have a rule of thumb for financial stability.
Level 1 - just buy groceries and pay for them without stressing
Level 2 - don’t worry about when payday hits
Level 3 - don’t worry about getting laid off
That makes a ton of sense. To add some numbers to it:
Getting to step 1 can be very difficult, especially for the lower class, but $10 or $20 at a time can get there. But it needs to be intentional, and that’s really hard when working two (or three) jobs, so many just don’t put in the consistent effort needed to get there. But once that first buffer is there, the rest becomes a lot easier since you’re no longer getting pushed backwards.
I disagree strongly that $1k is enough for any one emergency. My healthcare deductible is higher than that. The last two times I’ve needed car repairs, the bill was $2-3k to get the thing back on the road. If one of our appliances breaks down, we might be able to replace it for $1,000 if it’s the dryer or the dishwasher, but if it’s the fridge, that’s not close to enough.
$1,000 was plenty when I was in college back in the mid-00s, but I was single with no kids. That’s just not a realistic emergency fund in 2024, and even less so if you have a family.
And it fucking SUCKS in the beginning, because for a very long time it keeps getting wiped out by emergencies. But the more emergencies you weather, eventually the fewer you’ll have, and your buffer will grow.
Emergency funds are the most important tool for financial stability (after securing a living wage).
Honestly, what you see isn’t familiar to me at all. The people I know are very good at being frugal and wringing the last out of every dime, not being extravagant or frivolous, etc. We have no car payment on our ten-year-old minivan, own our home, and haven’t been clothes shopping in years except to replace things that wear out, that sort of thing.
The problem isn’t budgeting; we have a budget, and we stick to it pretty well. There are very few things we could cut, and doing so might save us a hundred or so dollars per month. The problem is that inflation has eaten up every dollar from my paycheck we used to have in surplus. The problem is that my salary hasn’t kept up with inflation and nobody else around here is hiring.
Yes, you can budget yourself from the top of one financial class into the bottom of another one; and you can manage money poorly enough to drop from anywhere to the bottom of the heap. But that doesn’t change the fact that there is a significant financial crunch happening for most people in the world right now.
Seems like everyone has their own preferred explanation as to why that’s happening (corporate greed vs. government overreach), but the fact that it’s happening seems pretty clear.
Yes, that certainly is a problem. Salary increases tend to lag inflation a bit, so you’d either need to switch jobs or wait to get caught up.
That said, wage growth has exceeded inflation for the last year and a half or so, so hopefully you’ll get a yearly salary bump to help out. Our salary bump was higher than usual last year (about 5%), but still below inflation (8-9%), and I hope our salary bump this year will fix that (4% would be enough to catch back up).
But the fact that you’ve been able to stay financially stable despite high inflation means you’re probably closer to “The Millionaire Next Door” than the average Joe drowning in credit card debt. If you can stay out of debt and put money away for retirement every month, you’ll be doing fine in your 60s when you’re looking at retirement.
Sure, if you follow the average advice (save 10%), then yeah, one bump-up is essentially expected. But if you’re more aggressive, jumping up more than one level should be feasible.
This video talks about economic classes, and the portion I linked shows how you can go from $65k/year salary (middle middle class) to lower upper class by age 50 by just investing 10% of your income. So this is essentially middle middle-class to lower-upper class. If you do 40 years instead of stopping at 50, you’d have $3M by retirement age. If we account for 2% inflation, you’d have about $1.7M in today’s dollars, which is almost to upper upper class. If you bump to 15% of your income, you end up with $2.6M after taking inflation into account, which is in that upper upper class range. So with just a median household salary, you can have an upper upper class retirement.
Thats why Prime Day is such a big deal.
People think they are getting awesome deals cause its 50% off, are not going and checking price trackers to see the item had a HUGE price spike a week before Prime Day.
But they think they got 50% off and that gives them that massive dopamine rush, and that encourages more spending.
The Lowe’s app is actually really handy. You can look up any item and it will tell you the exact isle and bay it’s in for your store. No more wandering around or hunting for an employee to ask. It’s the only store app I actually keep on my phone.
The point is it’s bullshit that’s not available on the Lowes website.
It actually is available on the website, but like most stores their mobile web experience isn’t great.
Honestly, if there were a simpler way to sell their personal data to retailers for people who want to do so, that probably would be more appealing for the users.
This just in: Author/professor/CEO whose books/classes/company are about manipulative technologies… voluntarily installs manipulative technologies.
Yup, I have none of them, and I still get a pretty good deal.
Most of my spending is at Costco, and they send me a paper ad once/month, which I’ll go through and add relevant stuff to my list (in a separate app). But even if I don’t get a discount, their prices are still better than most (e.g. eggs are normally $2.50 or so per dozen, whereas the grocery sells them for $4+). If I’m going to spend more than normal, I’ll check a few sites before going out (or ordering online), and sometimes I’ll ask the store clerk to price match to avoid multiple stops. The one place I have an app for is on my old phone, and it’s for Target because they actually have decent sales sometimes. I don’t check very often, but I will when I’m going to go buy a bunch of gifts for birthdays or holidays or whatever (and again, I’ll check multiple sites first), and I use the 5% off w/ the Target debit card.
I literally don’t bother with any loyalty programs. My grocery store’s loyalty program isn’t needed for discounts, it’s only for a discount on gas at some gas station I don’t go to (and isn’t even next to the store). There’s another with a better loyalty program (they have their own gas stations), but they’re further away and it would cost me more in gas to go there than I’d save.
So if we need something, we’ll look for coupons or whatever before setting out, we don’t use an app or loyalty program. I’m pretty sure we end up wasting a lot less money this way.
I stopped reading the article after it just became a list of apps. Felt like a thinly veiled ad, and if not, annoying af.
tiktok brain
Sorry, I don’t know what that means, I don’t have Tiktok. I’m talking about the whole article being vapid, just multiple paragraphs that are lists of apps:
Is it like brand name dropping to keep people’s attention or something?