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The Honesty of Companies, Middle Class Stagnation

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Happy Mother’s Day! Take some time to thank your mother for any good personal finance lessons you learned while you were growing up, whether by positive or negative example.

A few times a month, Lance from Money Life and More will stop by to share some of the best articles from across a variety of publications, including other blogs and mainstream media.

Things always seem to have a way of not going 100% as planned lately in our household. Recently, we found out our friend that was going to be our tenant for our townhouse rental could no longer rent it as planned. It was just another reminder that you shouldn’t mix money with friends and family.

Of course that is just a small problem for us personally. Nationally, MSN suggests that the middle class is resigned to stagnation. According to their article, the middle class is no longer striving to get ahead, but simply struggling to not fall behind.

Then there is the question of what is too honest? Is it too honest for an employee of a company to tell a customer that they can get a better deal elsewhere? I thought this was a really interesting situation, but I bet it happens more often than you’d think it would.

Speaking of being honest, a gambler found a game machine that had a programming bug in it. If a certain setting was turned on, it was possible to beat the machine and make a significant amount of money. He didn’t change any settings, but simply only played machines in which the setting was on. Now he’s getting prosecuted. I don’t see it as a crime, but what’s your take?

Last on the list this week is something I never thought about. How would you bank if you lived in a country with a foreign currency? It turns out banking in a foreign country is a lot more difficult than you’d think. Keep this in mind if you plan on retiring in a foreign country. It isn’t as easy as you’d think it could be in today’s digital age.

I hope everyone is having a great Mother’s Day weekend! Personally, I’m just hoping I don’t have to go to work.

Photo: Flickr

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Buying a House, The Diderot Effect and Awesome Customer Service

This article was written by Lance in Link Sharing. 9 comments.

A few times a month, Lance from Money Life and More will stop by to share some of the best articles from across a variety of publications, including other blogs and mainstream media.

Life has been extremely busy for us over the last few weeks! I recently bought a house and had to write a huge check for it at closing. Well, at least it was huge for me. It is weird not seeing that big chunk of cash in my bank account but we still have our emergency fund intact.

We’re hoping that the new house won’t lead us down the path of the Diderot effect. Paula at Afford Anything explains that the Diderot effect very well, and luckily we haven’t fallen victim to it in a major way yet. I have a feeling we’ll be more susceptible down the road though so we’ll have to keep our guard up.

Len Penzo says you can call me almost anything but please don’t call me cheap. Have you ever done something and had someone call you cheap? Len explains the difference in his mind between cheap and frugal. Do you agree with his assessment?

Frugal Rules shared an awesome example of customer service. LL Bean is an awesome company with an awesome policy. Unfortunately you normally only hear about bad customer service stories on the internet so this was a nice change of pace. You can read more about what LL Bean did for her when she contacted them about her many year old worn out slippers. It is an awesome story.

Michael from Financial Ramblings offers a few tips for haggling, even for those who hate haggling. It’s a great way to save money here and there, and sometimes all you have to do is ask. Michael shares seven “magical” words that help get the haggling started.

Finally, J. Money at Budgets Are Sexy reminds us about the paradox of our time. I think everyone can relate to this poem. Take the time to read it. It’s short and helps us remind us what is important in life.

I hope you’ve enjoyed these posts from around the internet. Take some time this weekend and do something you’ve wanted to get done. There is no time like the present! Until next time…

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Pay Off a Mortgage Early, Affording a Smartphone, and JCPenney’s Gimmick

This article was written by Lance in Link Sharing. 5 comments.

A few times a month, Lance from Money Life and More will stop by to share some of the best articles from across a variety of publications, including other blogs and mainstream media.

I am excited to be starting a new series here on Consumerism Commentary! The goal of my new series is to share articles I’ve read over the last week or two that I feel deserved a second look. If you haven’t already read these articles I highly suggest you check them out if they sound interesting to you. If you have already read them, go ahead and take a second look! Let’s get straight to this week’s articles!

Jacob from iHeartBudgets is up first this week! He wrote about the common argument about whether or not you should pay off your mortgage early. Rather than taking a particular stance, Jacob looks at the benefits of both sides before deciding on a unique decision for himself. Luke suggestions considering the math and discounting the emotional benefit of paying off a low-interest mortgage early.

Holly at Club Thrifty asks a legitimate question: Can you really afford a smartphone? If you have a traditional smartphone plan you definitely know why she asks the question. Smartphone plans have become very expensive lately with all of the add-ons of texting, data and anything else cell phone carriers can think up!

Money Beagle examines the simple reason JCPenney’s pricing gimmick failed. As you may have recently read, JCPenney’s CEO got the boot and their old CEO is returning. It sounds like they’ll be shifting back to their old strategies and I think Money Beagle hit the reason why dead on in his article.

Travis explored a question I’ve always wondered about myself but never investigated. Is buying in bulk at Costco really cheaper? Travis compares and then shares the prices on 6 items he regularly buys at both Costco and Walmart. Will you be surprised by the results?

Finally, Carrie Smith at PT Money shares 25 insanely easy ways to manage your money and get back on top. Tackling all 25 steps at once might seem a bit daunting but you can start by applying just one or two and then moving down the list as you pick up speed. I’m sure most people could pick up at least a couple great tips from this list.

I hope you enjoyed reading (or rereading) these stories as much as I did!

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