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Tips on Getting Your Money Back
Tweet Share on Facebook February 19, 2008 Comment (1)For a recent article on the art of complaining, I looked into the best ways to lodge complaints against companies. The most important lesson was actually lodging them in the first place—many customers don't, and that's why they end up being overcharged or unsatisfied.
I asked the managers of two popular company complaint websites, Greg Brummer at Planet Feedback and Max Spankie at My3Cents, who receive thousands of complaints from readers, about common mistakes and their advice for getting the results you want. Here's what they had to say:
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The Democratic Candidates and Your Credit Cards
Tweet Share on Facebook February 15, 2008 Comment (25)Barack Obama and Hillary Clinton have both called for credit card reform. Their plans are similar in philosophy, but they differ in the details. (Neither Sen. John McCain, Mike Huckabee, nor Rep. Ron Paul has issued credit card reform proposals.) Clinton's proposal creates a new government commission to focus on credit card abuses and caps interest rates, while Obama's comes with a five-star rating system and a new consumer bill of rights.
You be the judge:
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Vote on 'Skinny' Starbucks Ads
Tweet Share on Facebook February 14, 2008 Comment (18)I am a sucker for aspirational ads. I stop to stare at images of women out on early-morning jogs, office workers looking glamorous while tapping away on hand-held devices, and Tiffany diamonds. That is why Starbuck's new campaign, featuring coffee drinkers who reward themselves with nonfat, sugar-free lattes, caught my eye.
After doing some research, I found that some customers (and a barista, for that matter) objected to the ad campaign's use of the word skinny to describe the drinks, for fear it might offend. (Read my article on the campaign here.) I like the ads, except for one thing: I was appalled to hear a woman on one of the radio spots confess to drinking three iced skinny lattes a day. That adds up to about $45 a week. I'd rather "reward" myself with more cash in my wallet. To vote, go here.
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Free 'Women & Money' E-Book
Tweet Share on Facebook February 14, 2008 Comment (18)Suze Orman has made her book Women & Money available free through this site until 8 p.m. EST today. Happy Valentine's Day!
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Corey: I Did Nothing Wrong
Tweet Share on Facebook February 13, 2008 Comment (7)In response to my criticism posted yesterday, author Alan Corey blogged his defense of his money-saving techniques, which include using the same popcorn bag to get free refills for three months and claiming dropped cellphone calls to get free minutes.
He says he gets plenty of fan mail from readers, and it's only pesky journalists who are critical. Being unethical, he says, requires a victim, and his behavior didn't hurt anyone. Readers, I'd love to know what you think. Would you reuse the same popcorn bag for months?
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When Pinching Pennies Becomes Unethical
Tweet Share on Facebook February 12, 2008 Comment (6)For an upcoming article, I interviewed Alan Corey, author of A Million Bucks by 30: How to Overcome a Crap Job, Stingy Parents, and a Useless Degree to Become a Millionaire Before (or After) Turning 30. Corey tells quite an impressive story about racking up a million dollars in assets before his 30th birthday, which he did largely through smart real estate moves.
He emphasizes the often extreme ways he saves money, which include eating oodles of ramen noodles and taking advantage of free food at art gallery opening nights. I'm all for saving money, but some techniques struck me as, well, completely unethical. He says he reused the same popcorn bag for three months to get free refills, collected free cellphone minutes by claiming to have experienced dropped calls, and picked up umbrellas at lost and founds by claiming to have left his own behind.
Corey was happy to defend his use of such techniques. He says many restaurant owners want to get rid of the numerous umbrellas they have collected in their lost and found piles. He also says he would take the worst umbrella in the bunch and that he recommends returning it to the same or another lost and found. As for reusing the popcorn bag, he says the theater doesn't specify that the free refills are for only one showing. "I never felt like I was being secretive or deceiving, but creative," he says.
When I asked Patty Park, senior publicist for Random House, whether the publisher was endorsing such techniques, she said, "We're not saying his advice is for everyone...Readers are welcome to take or leave his tips as they wish," she says.
• Readers: Do Corey's techniques cross the line?
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My Experiment: Asking for a Better Deal
Tweet Share on Facebook February 11, 2008 Comment (10)If just asking a question could put money in your pocket, would you do it?
According to Linda Babcock and Sara Laschever, authors of the new book Ask For It: How Women Can Use the Power of Negotiation to Get What They Really Want, many women miss out on higher starting salaries, store savings, and other benefits because they fail to make simple requests.
The power of "asking for it," they say, can result in everyday lower prices, as well as a significant increase in lifetime earnings. In fact, Babcock recently told me that while she was out shopping for jewelry, she asked for a lower price and ended up making the purchase at a 20 percent discount.
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Credit Card Condoms?
Tweet Share on Facebook February 8, 2008 Comment (4)The idea is so disgusting that perhaps it will work: A new debt awareness campaign, sponsored by the Service Employees International Union and the League of Young Voters, compares "debt disease" to the sexually transmitted kind. The cure? Credit card condoms, of course. From the site:
Abstinence is the only surefire way to avoid catching Debt Disease. If you're concerned that you or your friends can't keep your credit card in your pocket, Credit Card Condoms could be helpful. Keep in mind: although Credit Card Condoms are 99.9% effective, they are only an aid for learning to live a debt-free lifestyle.
Debt disease is spreading quickly among college students, the campaign warns, and once you get it, you could have it for years. According to the site, 78 percent of college students have at least one credit card, and the average credit card debt for graduating seniors is $3,000. (You can see a U.S. News report on college debt trends here.)
To help get the word out, the campaign is holding a contest for the best public service announcement on the topic. The winner will get $5,000 for school expenses, and the video will be broadcast throughout the Internet. Sounds as though it could be viral.
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Seniors' Identity Theft Dilemma
Tweet Share on Facebook February 7, 2008 Comment (11)It sounds so simple: To help prevent identity theft, leave your Social Security card at home. That way, if your wallet gets stolen, the thief won't be able to set up accounts in your name.
That was the advice of Ed Farrell, associate director at Consumer Reports' National Research Center, when I interviewed him on camera recently.
But one astute reader, Sheri of Washington, took issue with that advice, because she says retirees with Medicare cards need to carry the cards with them in case of medical emergencies, and those cards contain Social Security numbers.
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Reader's Advice: Stop Buying Lattes
Tweet Share on Facebook February 6, 2008 Comment (9)When I suggested saving money by taking bubble baths instead of splurging on more expensive indulgences and hosting movie nights for friends instead of paying $10 for theater tickets, it unleashed a torrent of E-mails, many of which were critical about just how decadent Americans' spending habits have become.
"Since when did we become a society that needs common-sense advice spelled out for them?" wrote Stephen Johnson of Brandon, Miss. He says he and his wife own two cars, two motorcycles, and a home, all of which they pay for with their salaries, which adds up to around $5,500 a month, including his military pension and disability pay from his years in the Navy. He says they follow a basic rule: Live within their means.
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Alpha Consumer
Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.
Generation Earn
Senior editor Kimberly Palmer’s book, Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back, is now available.
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