I just wanted to share a very good site of the lost art of manliness, and by manliness I don't mean macho, chauvinistic or anything else negative. Read for yourself and tell me what you think. for example"
Why and How to Start an Emergency Fund
Why do you need an emergency fund?
Because sh** happens and it can be expensive.
Kids end up in the emergency room; your car goes kaput in the middle of New Mexico; your water heater springs a leak. We’ve all experienced these setbacks and their accompanying bills. Some of us have suffered the misfortune of getting laid off and being without a source of income for months. Many people don’t plan for emergencies in their monthly budget, so when the poop hits the fan, they’re forced to take on expensive credit card debt to cover the bills.
An emergency fund is insurance for you and your family. Having cash on hand to cover unexpected expenses has two big benefits. First, it gives you peace of mind. Instead of wringing your hands worrying about where you’re going to come up with the money to cover an emergency expense, you simply transfer money from your emergency fund to your checking account. Crisis averted.
Second, and more importantly, it helps you get ahead financially. Instead of taking on more debt by using your credit card for emergencies, an emergency savings fund will prevent you from digging yourself deeper into a hole.
An added benefit of an emergency fund is the feeling of pride that self-sufficiency gives a man. You can’t beat it.
Where to Stash Your Emergency Fund
Your emergency fund should be liquid and easily accessible. While it may be tempting to get a higher interest rate by putting your money in a CD or mutual fund, those savings devices make getting to your money difficult when you need it most. Instead, opt for a boring old savings or checking account with a local or online bank.
Local banks. Local banks are great places to stash your emergency fund because you probably already do business with them. Just visit a branch and ask to open a separate savings account for your emergency fund. Depositing money into your account is easy because you can do the transaction in person. Ensure that your savings account is connected with a checking account, so you can easily transfer emergency money to your checking account when you need to spend it. The downside with brick and mortar banks is that the interest rate isn’t that great, but this isn’t a big deal because we’re not trying to get rich on the interest from our emergency fund.
Online banks. Online banks are a great place to keep your emergency fund because they typically have higher interest rates and lower costs and fees than the brick and mortar variety. A few years ago online banks like ING Direct and Ally had crazy monthly interest rates between 2%-4%, but they’ve since gone down to about 0.8-1%. Not fantastic, but still better than most traditional banks.
I keep our emergency fund in a checking account with ING Direct. The free debit card makes the money easy to get to when I need it.
The biggest drawback with online banking is the inconvenience. You can’t go into a branch to deposit money; to fund your online account, you have to connect it to a traditional bank. And if you don’t have a debit card for your online account, getting to your money can be difficult. You’ll have to request a transfer from your online account to your traditional account and wait three to four business days for the transaction to clear.
Personally, I find this inconvenience a helpful firewall that ensures I don’t cheat and dip into my emergency fund for things that aren’t really emergencies. But just do what works for you.
Should I keep some cash under the mattress? It’s not a bad idea to keep part of your emergency fund hidden somewhere in your house. Natural disasters and zombie apocalypses can knock out banks and ATM machines for days and even weeks, cutting you off from your money. $300-$400 in cash is a good amount to have on hand. Hide it in your mattress, store it in a fireproof safe, or even keep it in your bug out bag. For style points, keep your emergency cash in a secret book safe.
How Much Do I Need in My Emergency Fund?
When Kate and I were working on paying off our debt, we followed Dave Ramsey’s Total Money Makeover. I know Dave has his critics, but his plan worked for us. Dave believes you should create a $1,000 emergency fund before you start working on paying off your debt. That way, you can use this small cushion for emergency expenses, instead of adding to your debt by using your credit card.
After paying off your debt, you begin building an emergency fund with enough money to cover three to six months of basic living expenses. We’re talking the bare necessities here. That’s about $5,000-$25,000 for most folks. This fund is designed to cover most big emergencies and provide enough money to live on in case you lose your job.
Emergency Fund Goal #1: $1,000 Fast!
Our $1,000 emergency fund came in handy several times during our debt repayment process. When I was in law school we had a few emergency car repairs that came up. We also had to make a couple of unexpected visits to the hospital. Instead of having to use credit cards, we were able to pay for these expenses with cash from our emergency fund. No new debt!
The goal is to get this $1,000 emergency account funded as quickly as possible. You also want to ensure that your account constantly has $1,000 in it, so whenever you use funds from your emergency account, you’ll want to replenish your fund as soon as possible.
“Alright,” you might be thinking, “This sounds good in theory, but how am I going to scrape together $1K when I’m barely making ends meet as it is?”
I know pulling together $1,000 can seem daunting. I’ve been there. We built our emergency fund when I was in law school. Kate and I were both working part-time, but we were barely getting by. Despite that, we were able to fund our $1,000 emergency stash in just two months. The key to creating a $1,000 emergency fund in a short amount of time is 1) increasing your income quickly and 2) cutting big expenses. In short, hustle and sacrifice.
There are a myriad of ways to cut expenses and increase your income. Listing them all would be a post in and of itself. So here are a few ways that helped Kate and I build our $1,000 emergency fund. I’d love to read what worked for you.
1. Have a yard sale. Taking part in a garage sale went a long way in helping us quickly reach our $1,000 goal. We piggybacked on a yard sale Kate’s parents were having and gathered together all the crap we hadn’t used for months and the things people had given us when we got married that we’d never used, and sold it. At the end of the day, we netted about $250, and it went right into our emergency fund savings account. The other added bonus was our place was cleaner and tidier without the extra clutter lying around.
2. Sell your old DVDs, books, and video games on Amazon.com. I’m a book hound. I love reading books. When I was in high school and college, I would often go to the bookstore once a week to browse and buy a new book. Consequently, I had amassed quite a collection of them. So I signed up as a seller on Amazon.com and put up all my old books on the site that I knew I would never read again.
It’s amazing how fast those books went. Of course, selling on Amazon or eBay can be a pain. I spent many of my weekends packaging books and standing in the line at the post office, but the time commitment paid off. I earned about $100 from my Amazon.com sales blitz.
When Kate and I got serious about paying off our debt, I curbed my book-buying habit significantly and became a zealous patron of the library (I freaking love the library).
3. Cut the cable. Cable TV is expensive, and let’s be honest, most of the shows on there are crap. Cutting cable from your budget can easily give you an additional $20-$100 a month depending on how much you’re spending on your plan. And if you’re really desperate to watch some of your favorite tv shows, check out Hulu.com. You can watch many shows on there for free.
4. Get a second job/work odd jobs. I’m sure you’re a busy man. You probably already have a job and a family. Or maybe you’re going to school full-time and working a part-time job as well. But if you’re serious about getting your financial house in order, you’ll be willing to make the sacrifices necessary to reach your goal.
Don’t be picky about the kind of second jobs or odd work you take on. Personally, I’m of the opinion that no work is beneath you so long as it’s ethical and you give it your best. There are lots of flexible jobs you can work on the weekends or in the evenings. Deliver pizzas, bartend, wait tables, mow lawns, retail.
I have one friend who was doing the Dave Ramsey plan and wanted to fund his $1K emergency fund ASAP. So he bought some numbered stencils and some black and white spray paint, and knocked doors all weekend seeing if anybody wanted their address painted or repainted on the curb. He charged $10 for his services. In one weekend he made $400 and in one month he had his $1,000. This guy knows how to hustle.
5. Stay in on the weekends. For Kate and I, an average Friday night out could cost $20-$50. By limiting ourselves to just one night out a month, we were able to contribute $100 more a month to our fund. We just had to be a bit more creative with what we did on the weekends.
6. Shop for a better auto insurance rate. You’ve seen the commercials on TV claiming you can save a boat load of money by switching auto insurance plans. Take them up on their claim. Visit Progressive, State Farm, Geico, American Family, and esurance to see if you can save a $100 or more by switching to them.
If you like your auto insurance and don’t want to switch, give your insurance company a call to see if they have any safe driving or customer loyalty discounts. You also might ask if you can reduce your rate by paying a lump sum once or twice a year instead of paying every month. Kate and I saved about $100 making that switch.
7. If you’re married, share a car. This is something Kate I have done since we got hitched and still do today. Having only one car saves you big money on car insurance payments, oil changes, and other auto repairs and expenses. Sure, it can be inconvenient sometimes, but it’s also a good way to spend quality time together. Really! Those car rides to and from law school were the few times Kate and I had to just talk each day.
8. Collect and gather your loose change. I was surprised how much money we were able to add to our emergency fund simply by gathering all our loose change around the house and in the car. Sure, you’re not going to fully fund your $1K with just loose change, but I bet you can collect about $20-$40 in change in a month. Every little bit helps!
Emergency Fund Goal #2: 3-6 Months of Basic Living Expenses
An emergency fund with three to six months of living expenses socked away can seem like a hefty goal. If you’ve never had more than $1,000 in your bank account, saving $5,000 to $25,000 may seem downright impossible.
Don’t let the enormity of the goal overwhelm you. Small steps will eventually get you there. Imagine the feeling of supreme, manly confidence you’ll enjoy knowing you have enough money to weather the storms of life.
Where you keep your emergency fund shouldn’t change even though you’ll have more stashed away. We still want these funds to be liquid and easily accessible.
Kate and I are working on this goal right now. It will be awhile before we reach it, but we’ll get there. Two things that are helping us reach our goal:
1. Take what you were paying in debt each month and put it in your emergency fund. As soon as Kate and I paid off our debt, we started taking the money we had been paying each month towards debt reduction and putting it in our emergency fund. We’re already used to allocating this money in our budget, so it’s been easy to redirect it towards this new goal.
2. Make savings automatic. I don’t think much about funding my emergency fund because I’ve put our savings on auto-pilot. With the ING Direct automatic savings plan, I’m able to automatically transfer a set amount of money from my primary checking account to my emergency fund every month.
Have you or are you working towards creating an emergency fund? Share your tips on how you’re getting to this goal!
http://artofmanliness.com/2011/03/23/why-and-how-to-start-an-emergency-fund/
http://artofmanliness.com/
Omnichron said:
your car goes kaput in the middle of New Mexico
Click to expand...
Click to collapse
Hmm, I happen to live in New Mexico. thanks alot.
muerteman said:
hmm, i happen to live in new mexico. Thanks alot.
Click to expand...
Click to collapse
btw : nice post ill post somthing smart when i read it tomorrow (adn im not drunk)
Related
what are your thoughts?
p/s If you are interested in forex, you can go to this website for forex guides and EUR/USD views.
www.TheGeekKnows.com
The articles are simple to read and understand.
I am not a pesimistic person, but at least on my country, the economic recesion is far away from see the light...
Hard times correspond to working harder!
the economy is getting worse and worse every day in every country i think we should go to space and make new countries now
I'm proof that the economy is in the dumps.
At home enjoying time with my little ones...
HotJobbing, Craiglistin', Careerbuilding, Indeeding, sleeping...
Aaaahhhh....this is the life...
2 months and counting...
No rush.
Simply stated, the economy is getting worse.
Creditors are becoming more stringent as are people with expendable capital.
We're in for the long haul.
Worse. Read up.
Oh look!!! I'm ranting!!!
leobox1 said:
what are your thoughts?
Click to expand...
Click to collapse
Sorry...but what do you mean by "One year on?" This situation we're all in has been brewing since 2006...it's just the lame terminology of what a recession is (a widespread decline in the GDP and employment and trade lasting from six months to a year). I worked with the building trade (provided tools and equipment) and we could see the slow decline in building around the last quarter in 2006. This was a sign that there was something going on...and of course the 5 year mark on ARM loans for homes was just a nail in the economic coffin. People being given homes that banks knew they could not afford--lying--err..."Underwriting" assets to inflate a person's assets so they could get a bigger loan. So...here we are with
-people living in apartments,
-working hard to get a condo or a townhouse for $120K in 2000,
-smiling in 2002 at the inflated equity their $425K home currently has,
-Using said equity to purchase a $700K house at ARM and paying only $2K a month
-Realizing that the 5 years is up and that their loan has now skyrocketed to $5K a month
-Not being able to afford such a payment, $300K in equity down the drain...
-back in an apartment.
Very sad, but I'm sure you know of at least on of these situations...
For those that are having trouble paying their home (at no fault of their own) such as loss of income, disability, hardship...Google up HAM loan modification...
might help...
leobox1 said:
what are your thoughts?
Click to expand...
Click to collapse
Unfortunately, the picture is not as rosey as the government & wallstreet want U to beleave. We have a long way to go for paying down the deposite and creating good jobs!
I am a pesimistic person
but I say it may have gotten a bit better
but the damage don with companys going under
and people being fired have not peeked yet nor is it likely
to this year
In India, i think we have not even seen as such as being seen by Americans.
Lots of Indian shifting back to India from America. But nonetheless we have seen some decline in sales and jobs markets, but not as much as in abroad.
guess on the ground, things are still tough..
then its scary to see the markets value going up these days again as it may
be a bubble again...
when you hit rock bottom there is only up to go
think it got some raising to do before it could be a bubble
because now most is worth more then you can get for it
Still stuck in the rut no job not prospects no future "yeah i'm making a joke" but infact i have seen no change in the current climate with work being the bigest was made redundant and the field i work in is a bismal "in my location" and has been since the day i had to leave........
Fix Up........... Look Sharpe........
Things can only get better
+1!!
That´s the positive thinking!!
Cheers for that!
oil is now at $70+
way above the low of $30+
Unemployment index is still very high, and many companies are still a bit hesitant about hiring. However, Dow Jones is moving up (though it might just be a slight bit of higher confidence), the housing market is slowly recovering (though bad mortgages are still being collected, and "big banks" are still writing them off), hiring is looking somewhat positive for the first time in a while and consumer confidence is starting to pick up again (retail is looking good again, meaning people are spending more).
Nobody's really sure whether this is the light at the end of the tunnel, but it might be a little break from the storm.
I think many factors are behind the share rally. The cash for clunkers program is one. The Chinese government's forcing its bank to lend is another. Then, there is also the issue of financial institution given the leeway to value the toxic assets as anyting they want once again which mask the problems. Add to that the massive money printing by the US government, and some of those money are now propping up the US share market.
Bank CEO's are doing anything in their power (including cooking their books) to justify paying themselves obscene bonuses once again.
When the Chinese government forced the State controlled banks to lend, there is no actual demand by businesses or individuals to borrow it. After all the export market is shrinking rapidly. But since the order from the top must be followed, the banks have to bribe the borrowers to accept the loan. These loans ended up in risky properties, shares, and commodity futures bets and gambles. We already see how the Shanghai A share plunged 20% within a few days recently when the Chinese goverment announced that it is "finetuning" its lending policy. The Chinese has yet to learn to spell bubbles but I think it is definitely forming and that will in turn send a shockwave throughout the world.
Unemployment is still worsening, not geting better. The loan defaults in US is now a more serious problem in the primed mortgage area, even surpassing that in the subprime mortage area. The banks are once again packaging extremely risky assets and try to market them to unsuspecting investors all over again.
According to some reports, the insiders are throwing out their own share at the ratio of 8:1 (for every share they buy, they're selling 8), while the fools are being sucked in once again.
Unfortunately, retail investors will never learn. Memory is short. The reason is we're all driven by greed. Many are investing purely with a herd's mentality. Once again, they're not happy with a small trading profit and try to hold it longer for larger gain. Once again, they may find out that when the market head for the exit again, they can't sell it fast enough as the big guys who have everything computerised.
There is so much spin going around in the market, with so many experts telling us that the economy has recovered. They won't tell you about 77 (edit: Just read from Bloomberg that it is now 84 in the year 2009) US banks have already collapsed this year. According to a very famous analyst, hundreds more are heading that way. They manipulate the unemployment figures to make it look less worst than it actually is. They are trying to encourage private investor to buy up those lousy banks with worthless assets.
I think the world is now characterised by the Chinese doing all the hardwork for the West to enjoy, and their money are still with the west in the form of investments that they are stuck with. This was the great imbalance that, unless corrected, will continue to worsen the problem of the world. This imbalance is unsustainable.
The "stimulus" is no stimulus that resume the heatbeat when removed. It is more like a crutch, which remove, the patient collapses once again.
The world needs reform. The imbalance needs to be addressed. The Chinese/Japanese/Indian must start consuming more and save less. The West must start consuming less and save more. There is also progressively more imbalance in the world in terms of pay. Just look at what the greedy CEOs are getting compared to the ordinary workers. As a result, the purchasing power of the masses, hence consumption power in the economy, will suffer.
Just my 2 cents.
newsuser, nice read
S&P500 is now above 1000
I think economy will recover at least a little bit in the next year. Of course recovering from what happened is hard and takes several years but I am quite positive that it will go up again, at least because everyone tightened their belts a little bit. I think that was kind of an important lesson learned for our society. Not everything works out the way we want forever.
s&p500 is now around 1060 .. rather fast do u folks think?
Hello!
I left my night shift job last month and still don't have a job. I'm actively looking for a job, but even then I won't make it to my first pay at this pace.
Is there any way I could make a few bucks at least for gas in the meantime, just so I don't reach the negative balance?
hey sorry about that better times will come.. in the meantime I'll give you my advice and this one comes from personal experience(yes I've had a few rough times, who hasn't?)
Last time I was short on the "thing you use to buy potatoes"(sounds better in portuguese) aka money, I sold something(s) that I had and was not making use of, like my PSP for example. Broke my heart to let it go but you gotta do what you gotta do.
The point is, we always keep things we don't use anymore because we think "well I might be needing this some day" and probably will need that thing again but until then there are more important things one might need.
hope this helps
I have been out of work for 6 months...
are you handy around the house? why not post your talents online (painting, wallpapering, cleaning) on free classified postings...
I lost my job in february due to a work injury, and I was physically unable to do most work with out the use of my left arm. I have healed since then but stopped receiving disability pay in october. It has been 10 weeks and unemployment still has yet to come through and help me out.
I also have sold off things that were luxury items like my ATV and an engine I had built sitting around in my garage. A friend of mine supplements his unemployment doing odd jobs he finds off craigslist and I have helped people move and cut firewood for cash. Hoping the economy picks up locally so i can get back to work soon.
Good luck and look everywhere. Craigslist is a good place to start.
what response have you received from the unemployment office?
Have you gone to them?
If you have, did you show the letter stating when disability payments would start and/or end?
They may be waiting from a response from your previous employer...
I don't get unemployment cheques, but I'm getting a job internview this morning. Thankfully, I don't have many financial responsabilities (college student here), but I could use a few bucks just to close the gap 'till I get a job.
As for putting gas in my car... I got rear-ended yesterday, total loss, and 5 minutes later Staples calls for a job offer!
N1c0_ds said:
I don't get unemployment cheques, but I'm getting a job internview this morning. Thankfully, I don't have many financial responsabilities (college student here), but I could use a few bucks just to close the gap 'till I get a job.
As for putting gas in my car... I got rear-ended yesterday, total loss, and 5 minutes later Staples calls for a job offer!
Click to expand...
Click to collapse
CA-CHING!!!!!!!
I can already feel your neck stiffening up and a slight loss in feeling both of your pinky toes!!!
Not really, the car took it all so I'm feeling fine, but still. Now I have to get another car with what the insurance company judges my car is worth (360 000 km, but in better condition than anything that mileage).
Trouble likes company
N1c0_ds said:
Not really, the car took it all so I'm feeling fine, but still. Now I have to get another car with what the insurance company judges my car is worth (360 000 km, but in better condition than anything that mileage).
Trouble likes company
Click to expand...
Click to collapse
There are lots of sites that pay you to fill in serveys, you only get a couple of dollars each but do 10 a day thats 20-30 dollars suppose lol
Just make sure that the company you represent isn't from Nigeria...
Dang it I hate this laggy keyboatd!!!
We could both have met such a thing while deciding to have a new iPhone, we need sign a contract with AT&T for two years’ cooperation. Or it’s sorry that we should pay double price for our iPhone. So for me, Bundling promotionfor is the most Brutal way of sale! Maybe i just wanna a tin of Coca Cola, you would promote ur computers telling me that it’s a privileged promotion at a effrontery tone. MG!
Apparently, brand bundling promotion is becoming more and more popular. Some examples, the ALO and Target Department store launch a combined promotion, USA Today and AT＆T unit to take a new service project, AT&T and Time Warner are trying the bundling promotion. Even online Marketplace mix in the crowd, EBAY and TOPONS are willing to make bundling promotion in their plans. Normally bundling Celebrity Style Clothing+Women's Designer Dresses+Evening Handbags together, but I am really confused that why TOPONS bundle iPhone’s protecting jacket and cellphone memory card for promotion. You know, iPhone can’t use with a memory card indeed. Speechless! Merchants just try to bundle their products for selling ignoring related or not.
As to me, the Bundling Pormotion is discrimination of price, even a violation of subjective will. Serious said, maybe it a forcing trading that I just can’t bear!
Just get a decent phone instead. simples.
Why do you feel you have to get an iphone? There are many many better phones out there. iphone is a rip off no matter where you buy it.
When you buy a nexus you get the same deal no matter what!
me,too!
I really hate bunding selling.I always buy things at ebay and TOPONS.yeah,somethings are really cheap,but if I buy clothes at promotion price,i must buy shoes too.and i really didn't need shoes.
SO,I always buy many things i don't need.that's wasted of money.
paperpaper said:
We could both have met such a thing while deciding to have a new iPhone, we need sign a contract with AT&T for two years’ cooperation. Or it’s sorry that we should pay double price for our iPhone. So for me, Bundling promotionfor is the most Brutal way of sale! Maybe i just wanna a tin of Coca Cola, you would promote ur computers telling me that it’s a privileged promotion at a effrontery tone. MG!
Apparently, brand bundling promotion is becoming more and more popular. Some examples, the ALO and Target Department store launch a combined promotion, USA Today and AT＆T unit to take a new service project, AT&T and Time Warner are trying the bundling promotion. Even online Marketplace mix in the crowd, EBAY and TOPONS are willing to make bundling promotion in their plans. Normally bundling Celebrity Style Clothing+Women's Designer Dresses+Evening Handbags together, but I am really confused that why TOPONS bundle iPhone’s protecting jacket and cellphone memory card for promotion. You know, iPhone can’t use with a memory card indeed. Speechless! Merchants just try to bundle their products for selling ignoring related or not.
As to me, the Bundling Pormotion is discrimination of price, even a violation of subjective will. Serious said, maybe it a forcing trading that I just can’t bear!
Click to expand...
Click to collapse
THAT was your fist post?!
Even weirder its on a non-iphone forum
When i first read it, I was confused as I expected it to be spam. But its like Anti Spam :s I am so confused right now...
wow. no one is making you buy any phone under contract. Apparently you think these things are cheap to make. Cell phone carriers subsidize the cost of the phone to get you to sign the contract. They make that money up by making you get a data plan.
Buy the phone outright and you don't have to worry. Here, I'll even post you a link:
http://cgi.ebay.com/Apple-iphone-4-...0442468999?pt=Cell_Phones&hash=item2c57417687
Here in Belgium, we have no bundling problems with regards to mobile phones. It is not legal to combine at least two businesses/products and sell it as one.
Therefore it is illegal to lock phones because that would mean bundling the sale of a mobile phone with the telephony/services offered by networks.
I guess Belgium is one of the few countries where iphone is sold legally unlocked. Even in prepaid if you like. Iphone 4 16GB is 640 euro, while 32GB is 750euros at most.
We don't need to jailbreak them at all.
I know this is way off topic but id get some help/advice from xda family. ive already accepted loan for this coming semester(first time having to do so, ran out of money) , i dont start work back until january 15th, i only have 88 bucks in my bank acct now, almost no gas in my jeep, only decent internet source is my phone but my data for this month is getting close and it renews the 5th... How the heck do i come up with some money? I got xbox, ps3, smartphone repair services and parts posted on knoxville and Chattanooga craigslist, but i get no business cuz they dont wanna meet in sweetwater
Sent from an Apple killing JellyBean
Judging from your post, you are a student. 88 bucks is enough to survive for 3 weeks as a student. Just make sure you have stuff that you can prepare for meals. Driving is not important.
Depends whether you want to survive or live.
LIVE:
Take a part time job. Ask friends for money. Don't drive. Cancel the cellphone for the month(if possible). Sell your PS3/XBOX.
SURVIVE :
Eat only once every two days. Don't take a bath. Take the thug life. Start a clan in the neighborhood and start stealing. Blackmail friends for money. Start pick pocketing. Thrive on Christmas party left over.
^^^THAT^^^
Im at home about an hour and half away from college and where work is... And at parents house til dorms open back up so i have food and water and all that... I need money for books for next semester and i only pay 50 a month for my cell... Only means of internet, staying in touch with people
Sent from an Apple killing JellyBean
moparfreak426 said:
Im at home about an hour and half away from college and where work is... And at parents house til dorms open back up so i have food and water and all that... I need money for books for next semester and i only pay 50 a month for my cell... Only means of internet, staying in touch with people
Sent from an Apple killing JellyBean
Click to expand...
Click to collapse
You're pretty much set. Borrow money for books from parents, or just wait till the first pay check to buy the books. Or do what I do. get drunk now and worry about stuff tomorrow.
Lol... I only have half bottle of hot damn left... And parents dont have the extra money, theyre about to lose their vehicles and home phone has been cut off, i paid for electric here for the month
Sent from an Apple killing JellyBean
Make some moonshine
Sell all your electonics on eBay, including youre smartphone. Go with tracphone get their barebones plan, get a cheap dumb phone. For internet access, use the school computers. This is the time to make hard choices.
Worst case scenario is living on the streets begging for money... and judging by interviews with bums i've seen, they're generally pretty happy...
I have used Samsung for a long time (including the Note 7 fiasco) and have many of their products in my house. I like using Samsung Pay, except it doesn't work on Apple Pay capable terminals in my area, but they have now gone too far. I'm done.
My rewards points were substantial. I was not aware they expired so I was just letting them roll. I tonight find out that they do expire and they have all been devalued at some time in February of this year I think. This devaluation has cost me $120+! There was no grandfathering or adjusting existing points with this unannounced and uninformed change. Further accumulating points has also been cut in half, basically.
If you take the time to dig you can find out about the expiring points on the Samsung Site, but you MUST dig. I was told by more than one Samsung Rep that they did NOT expire. If Samsung were a decent company it would appear in the FAQs. There is nothing anywhere about the devaluation of existing points, a $100 card went from 40,000 to 50,000 points or 20%!
They could have emailed notice of the redemption change, or prorated the old points, or grandfathered the redemption rate on old points, but nope. Nothing. Nada. Basically, we are taking back some of that money we promised you when you bought our product, too bad. I'm done with their big company bullying.
Does this break the bank? Of course not. It is the principle. There is too much decent competition out there and I'll live without Samsung Pay. By the time I buy another phone the world around here may have caught up and it will not be "special" anyway.
So if you have Samsung Rewards points, sorry about your luck.
Well, I can see your point, very valid as you expected some benefits when you made your purchase, but for many people, like me, the only reason to buy a note 8 was the device itself, I really did not care about points, bonuses, gifts, bundled goodies, etc, I just wanted the supberb device the note 8 is, but that is my opinion
winol said:
Well, I can see your point, very valid as you expected some benefits when you made your purchase, but for many people, like me, the only reason to buy a note 8 was the device itself, I really did not care about points, bonuses, gifts, bundled goodies, etc, I just wanted the supberb device the note 8 is, but that is my opinion
Click to expand...
Click to collapse
Same all that extra ish....I never cared for.....am i even a loyal Samsung guy....no....even tho i favored Samsung phones over others from note 3 to 8....from Samsung epic 4g(s2) to s8+...
The only thing that would make me leave Samsung phones are the locked bootloader...but guess what it's still locked and I'm still here because the phones are just to good to pass on.....points? Meh.....but I do get it....its the principal of just letting us know....
I too normally feel that way about points programs. But this was a $200 rebate that is now $100 and other rebates from item purchases. I may have bought the products without the rebates IDK.
Samsung said at the ti. e of the purchase "here's the deal", paid me off in points, then reduced the value of the points WITHOUT notice. They retroactively changed the terms of the sale.
I dont buy Apple products because of company practices, so now Samsung has grown too big and developed that same "Do as we want to the customer" practice. Tired of their lies. What is the next lie to me?
Phredeee said:
I tonight find out that they do expire and they have all been devalued at some time in February of this year I think.
Click to expand...
Click to collapse
Yes the points you earn were cut in half, yet the cost of items have remained the same which will take you twice as long to get something. I have been occasionally using Samsung Pay to get the $20 gift-card at 6000 points since they cut the points in half then I am probably dropping it. It was a great incentive to use Samsung pay but now it will take forever to get anything which makes the point system dang near useless. The only reason I may still use Samsung Pay is the security regarding those "skimmers" people are using at gas pumps/etc to help cut back on someone stealing my credit card number, even though it still happens every couple years or so...
Samsung Rewards rip-off
xbmoyx said:
..., yet the cost of items have remained the same .....
Click to expand...
Click to collapse
Not true. The cost of items increased by 20%. See my example of a $100 rewards card increase from 40,000 points to 50,000 points. This happened across the board on the Rewards Cards. I've heard that gift cards and Samsung product redemptions also increased but can't confirm.
So it is a double whammy for their customers. You earn less AND it takes more at redemption. Done without notice or concern for their existing customers.
Sure, companies revamp their rewards programs. But they either pro rate existing points or notify the customer of upcoming changes or both. Samsung did neither.
Phredeee said:
Not true. The cost of items increased by 20%. See my example of a $100 rewards card increase from 40,000 points to 50,000 points. This happened across the board on the Rewards Cards. I've heard that gift cards and Samsung product redemptions also increased but can't confirm.
So it is a double whammy for their customers. You earn less AND it takes more at redemption. Done without notice or concern for their existing customers.
Sure, companies revamp their rewards programs. But they either pro rate existing points or notify the customer of upcoming changes or both. Samsung did neither.
Click to expand...
Click to collapse
I believe there was a notification on the SamsungPay app/ email (I do not remember which or both). So, they are not deceptive. Maybe you missed it/ blatantly choose to ignore it?
Also, when you signup for Samsung Pay, it clearly says points expire after 1 year, so....
Sure, they did not grandfather the point values, but, those are points and if you really wanted to get something, you should have redeemed it. There is no reason to flak a company if you did not take pains to understand how and when the points expire. If its hurting your bottom line so much, did you try calling SamsungPay support and talk to them and inform about your concern? I have done that multiple times and they have been reasonable.
Reward programs and all will always change at the will of the company, thats what they mention in the fine print. So, if you "agreed" to the terms, you have little to no choice. As an individual, if you want to stop buying Samsung products, sure, its your choice. Will it change Samsung or anyone else? Not really. C'est la vie!
xbmoyx said:
Yes the points you earn were cut in half, yet the cost of items have remained the same which will take you twice as long to get something. I have been occasionally using Samsung Pay to get the $20 gift-card at 6000 points since they cut the points in half then I am probably dropping it. It was a great incentive to use Samsung pay but now it will take forever to get anything which makes the point system dang near useless. The only reason I may still use Samsung Pay is the security regarding those "skimmers" people are using at gas pumps/etc to help cut back on someone stealing my credit card number, even though it still happens every couple years or so...
Click to expand...
Click to collapse
myechophone said:
I believe there was a notification on the SamsungPay app/ email (I do not remember which or both). So, they are not deceptive. Maybe you missed it/ blatantly choose to ignore it?
Also, when you signup for Samsung Pay, it clearly says points expire after 1 year, so....
Sure, they did not grandfather the point values, but, those are points and if you really wanted to get something, you should have redeemed it. There is no reason to flak a company if you did not take pains to understand how and when the points expire. If its hurting your bottom line so much, did you try calling SamsungPay support and talk to them and inform about your concern? I have done that multiple times and they have been reasonable.
Reward programs and all will always change at the will of the company, thats what they mention in the fine print. So, if you "agreed" to the terms, you have little to no choice. As an individual, if you want to stop buying Samsung products, sure, its your choice. Will it change Samsung or anyone else? Not really. C'est la vie!
Click to expand...
Click to collapse
I received no notice. or I surely would not have chosen to lose over $100 by choice. Certainly not blatantly.
"...if you really wanted to get something, you should have redeemed it..." Really!? Is it not reasonable to let points accumulate in order to reach a desired goal?
If you read my post you will see where I mention it is not about my bottom line. Yes, I have spoken to SamsungPay support 4 times in the last day. Explaining each time, each time there is nothing offered, NOTHING. Realizing the first tier of support is limited to their authorization I request to speak to a supervisor. Each time I'm promised a call back. None of those 4 call backs have happened. The last was 4 hours ago. That's some customer respect, eh? " Just lie to them, they will go away." Going away is exactly what I'm doing. This is just one forum where I express my feeling on the issue. Perhaps someone else notices that is shopping. IDK, maybe.
There may have been some notice of point expiration and/or change in the rules in the boilerplate fine print in the beginning. Hardly clearly by any measure. No one that I know reads the entire EULAs/terms in detail. If Samsung cared about making these details clear they would be in the FAQs. I searched for an explanation and found nothing on their web site about the redemption value change. What's clear is that they don't want it clear. They didn't want a run on the points and if they can save $100 per customer it sure does help their bottom line. Most companies phase these changes in.
No, I don't think that my rant will directly affect Samsung at all. But remember, class actions all start with a single person.
Phredeee said:
I have used Samsung for a long time (including the Note 7 fiasco) and have many of their products in my house. I like using Samsung Pay, except it doesn't work on Apple Pay capable terminals in my area, but they have now gone too far. I'm done.
My rewards points were substantial. I was not aware they expired so I was just letting them roll. I tonight find out that they do expire and they have all been devalued at some time in February of this year I think. This devaluation has cost me $120+! There was no grandfathering or adjusting existing points with this unannounced and uninformed change. Further accumulating points has also been cut in half, basically.
If you take the time to dig you can find out about the expiring points on the Samsung Site, but you MUST dig. I was told by more than one Samsung Rep that they did NOT expire. If Samsung were a decent company it would appear in the FAQs. There is nothing anywhere about the devaluation of existing points, a $100 card went from 40,000 to 50,000 points or 20%!
They could have emailed notice of the redemption change, or prorated the old points, or grandfathered the redemption rate on old points, but nope. Nothing. Nada. Basically, we are taking back some of that money we promised you when you bought our product, too bad. I'm done with their big company bullying.
Does this break the bank? Of course not. It is the principle. There is too much decent competition out there and I'll live without Samsung Pay. By the time I buy another phone the world around here may have caught up and it will not be "special" anyway.
So if you have Samsung Rewards points, sorry about your luck.
Click to expand...
Click to collapse
I mean it is kind of caveat emptor. I, it seems, wisely cashed in my points every 10K for my $50 gift cards. My wife just missed out on having enough this go around. Now she has close to the 12,500 that she needs, but it will take even longer. It is a free points system though, they don't even have to offer you anything. Plus you are getting any interest you may accrue by leaving the money in your bank account and paying your credit card once a month. You also get any rewards points that card may offer. It really is double or triple dipping.
I imagine people like my wife and I are the reason they halved it and increased it. We have extra phones and maxed them out every month under normal operation. To the tune of about $40 a month when you work the math out. I can't think of any reason Samsung will lose sleep over not retaining your business. This is truly a trivial reason to boycott them. What were you saving up for anyway? A Ferrari?
Hell I can think of a few reasons that personally effect me in a much larger financial scale right off the top of my head.
Note 7. $500+
Dropped support for my Note 12.2 Pro. $500+
ARC HDMI port stopped working on my 75" TV $2000+
Don't forget Samsung is the ONLY device with MST payments. I don't even carry a wallet anymore...and I've never had a terminal that would accept ApplePay and my phone/watch not work.
please note that in the retail business, expiring points is common practice. it is also stated somehwere in the 'fine print' that was never read and tossed away.
thinking otherwise is a grave misunderstanding on your part.
Anyways, the device it self and any marketing schemes are 2 things and are 2 very different departments. Hell, samsung usa samsung canada and samsung xyz all have their own terms and conditions.
its like buying mc donalds coffee and collecting the tags to evenrually get a free coffee. well they probably expire. and if they dont that means they reserve the right to pull the promo at anytime.
the question you need to ask yourself is:
are you buying the cofee because its good or because you want a free one eventually?
i work support in the retail business and loyalty accounts, points etc is just a scheme to make you buy more. Isint this common knowledge?
At this rate, you should boycott everything if you are unhappy with the terms because samsung is just the point of the iceberg.
in the long run, the only meaningful thing that you can do is stop spending money period. they are all out there to get you.
now with all these pay pass technologies you can spend even faster to accumulate more points to then spend them again etc...it never ends till you put a stop to it.
Ok. So the def. common practice caused you to boycott samsung products...
I see.
To he honest, I never paid attention to the rewards points. For me, the most important thing is the device itself, the design, the features, how advanced it is. I guess like Apple who never gave you any reward points will never piss you off
Me too for many reasons... Reason 1 is the delayed updates... RiP Samsung
DemGer said:
Me too for many reasons... Reason 1 is the delayed updates... RiP Samsung
Click to expand...
Click to collapse
Wow. I guess Samsung will change their strategy. Too many people leaving.
DemGer said:
Me too for many reasons... Reason 1 is the delayed updates... RiP Samsung
Click to expand...
Click to collapse
I got Oreo a week after the S8. Which came out like 6 months before. Of course they wouldn't release Oreo before the S9 came out. What delay?
A few points:
The interest earned current in bank accounts is miniscule. Credit card interest in my case is moot since I pay none.
It is not common practice to be so evasive informing customers that there are changes happening to loyalty programs. I've had loyalty points prorated when points were devalued. How far do you have to drill down at Samsungs Rewards website to find any mention of points expiring?
Samsung Customer Service promised many calls and emails that simply did not happen.
I have Samsung TVs, Washer, Dryer, Microwave, Refrigerator, Phones, and more. All purchased within the last 2 years with well over $15k spent.
It is not really about the money or the product, it is about how I'm being treated. I wasn't happy about how I was treated with the Note 7 either.
Samsung Pay capability and the $200 price reduction were by far the driving force behind my purchase of the Note 8. Samsung Pay is becoming less desirable since it works at fewer and fewer places as Apple Pay becomes more popular. My phone does not work wherever Apple Pay does (newer POS machines). I have talked to Samsung many times about this with zero results. The $200 rebate has changed now also. I am paying more for less.
Samsung expects me to return, and do without a phone for weeks, if I have a warranty issue. Even if the phone is only days old. This is just another detail that is not well communicated by Samsung.
I could go on and on about features promised but not available. So, my decision is about the cumulative disrespect shown by the "grown too large" Samsung.
Sure, it's a nice phone. But is it that much nicer than the competition if it doesn't have Samsung Pay and cost $100+ more? Why should I buy Samsung? Not price, not service, and the competition is close with other Android phones and I expect to be even closer as time goes on.
Well, clearly you made a big mistake when you bought a note series phone, this device is meant for those who find the s pen and all its functions the number 1 reason to buy it, if this unique characteristic was not the compelling reason to buy a note series device, then an iphone would have been a more useful option for you, as you said that you find more and more apple pay sites and less and less samsung pay sites, at least where you live or work or travel
I'm sorry but I am sure the rewards points expiring ins in the ToS agreement. You know that lil fine print everyone just checks I agree without reading. So it's on you and not them.
As far as updates it seems all phone makers and carriers drags their feet on updates. As they all love to put their little stuff in there over base android. If you want timely updates with android. You need to use a Google phone. I like samsung phones even with the note 7 fiasco. I started with moto original droid phone and moved to HTC but the phones went downhill over time.
I have used apple devices but found them lackluster at best. Not saying it's a bad phone as I suggest them to people that wants a phone that's simple to operate. All phones has their drawbacks
Sent from my SM-N950U1 using Tapatalk