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Archives for January 2014

Food Stamps Are A Symptom: The Fall Of Wages Amidst Executive Excess

By Frugaling 7 Comments

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Snap Food Stamps Photo
SNAP! Photo: Sarah G/Flickr

In 2007-2008, the US economy collapsed into a powerful, potent recession that lasted years. Rates of unemployment and food stamp use escalated during this period. Everybody suffered throughout this turmoil.

Last year, The Washington Post asserted that food stamps increased because of the great recession – noting that 47 million people were now receiving the benefit. Amidst this trouble, Republicans in Congress worked to save about $40 billion over 10 years, by removing about 3.8 million from food stamps. But this highly-contested course of action never came to fruition.

What’s SNAP and who benefits?

The timing was confusing, though. At a time where more Americans than ever were in need of the welfare benefit, Republicans aimed to reduce benefits and exclude vast swaths of people. A variety of families and individuals need food stamps. From single-parent households with young children to underpaid full-time, single employees, food stamps positively affect and bolster the budgets of those most in need.

To qualify for SNAP (Supplemental Nutritional Assistance Program) as an individual, you need to make $958 (net income) or less every month. That’s about $12,000 a year; otherwise known as, poverty for an individual. Without some sort of assistance, it’s reasonable to assume that paying for nutritional, healthy food options may be severely restricted or non-existent. That’s what makes food stamps an important necessity for those in need.

USDA Gov SNAP Eligibility
Income Eligibility For SNAP. Chart: USDA.gov

The demographics are growing, changing

USDA Gov Photo Food Stamps WIC
Photo: USDAGov/Flickr

The Guardian Liberty Voice recently highlighted the shift in food stamp (SNAP) recipients. Unlike most assumptions regarding food stamps that are propagated in our media and culture, recipients are now working harder than ever – despite needing more benefits. A sharp change occurred over the last few years:

Food stamp use is now highest among working Americans, according to government statistics. This is the first time this specific group has had majority use of food stamps in U.S. history.

As the article continues, most years the elderly and young benefited most from SNAP. Now, working Americans are the largest recipients of this benefit. The Guardian Liberty Voice calls into question growing corporate profits amidst this turmoil and economic distress for the working class.

What is especially troubling about more people being on food stamps is that corporate profits have been high yet wages continue to decline.

The $80 million government program accounts for about $1.50 per meal per recipient. That can be difficult to live on, but food stamps aim to prop up low-income households to enable them to recover and grow out of this impoverished level. Unfortunately, these populations and families have been the target of a variety of public spending and private-industry employee cuts.

Simultaneously, executives are killing companies and employee spirit

It’s reasonable to assume that corporate executives are paid more than traditional employees. Their responsibilities are far grander and they are held responsible in a number of legal and shareholder situations. Most are paid for performance and work in very competitive environments. This can breed a culture of corporate profits over people.

Income among working class and executive class swiftly changed in recent years. AFL-CIO has calculated the average executive versus worker salaries.

The CEOs of S&P 500 Index company made, on average, 354 times the average wages of rank-and-file U.S. workers in 2012.

Despite trying economic times and difficult rates of unemployment, many companies are seeing their greatest profits ever and CEOs are receiving staggering salaries (by number and ratio). Lawrence Ellison, CEO of Oracle, was paid nearly $100 million for a year’s salary. Moonves, CEO of CBS Corp., received about $62 million. Starbucks‘ chairman and CEO, Howard Schultz raked in almost $29 million. To make the top 100 CEO salary pay list, you need to make at least $18.75 million per year.

CEO-to-worker pay ratios make it clear: Executive salaries ballooned in recent years and are directly correlated with a sharp decline in employment. Wall Street tends to value this attitude towards employees; rid the excess and reward the leader, the lesser man is expendable. But unfortunately, this mentality is degrading worker rights, confidence, and consistency.

What comes around goes around

The current, frigid economic conditions have left many without an out. Executive pay, staggering unemployment, and poor business practices created a cyclical problem for the majority of working Americans. Now, they are the largest recipients of food stamps. The tragic irony is that worker pay stagnated and unemployment rates increased, while executives received bountiful bonuses.

There are few defending the most vulnerable among us. The current equation seems broken. Maybe it’s time for protections, regulations, and a general counterbalance to protect hard-working Americans looking to achieve and work for themselves? Maybe we can start with executive income ratios.

Filed Under: Social Justice Tagged With: AFL-CIO, assistance, CEO, Congress, executives, food stamps, Income, Income Inequality, income ratios, nutrition, poverty, republicans, SNAP, Wall Street, welfare, wic

Beyond The Home: Surprising Things You Can And Should Rent

By Frugaling 13 Comments

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Citibike Bikesharing Rental Rent
Photo: edwardhblake/flickr

This is a guest article from Stefanie! She’s trying to find ways to stretch her budget in one of the most expensive cities out there, New York City. A graduate of New York University’s drama and psychology programs at the height of the financial crisis, Stefanie discovered the world of financial planning out of necessity. Thanks for sharing your insight, Stefanie!

When we discuss renting versus buying, it’s typically in the context of the housing market. Today, we’re going to look at it from a different angle. Thanks to the Internet, what you should and can be rented has expanded to include just about everything. Whether you’re looking for an extra income opportunity or you need a specialized tool for a one-time project, be sure to consider all rental opportunities.

Should you rent, lease, or buy a car?

While I would never recommend leasing a car, buying a car (used or new) isn’t always the most cost effective alternative. For those of us who live in big cities, where parking comes at a premium and public transit is readily accessible, short-term car rental may be a better option. The following are some terrific options to get you started:

Relayrides / Getaround. Relayrides and Getaround facilitate person-to-person car rentals. The car owner posts information about their vehicle along with availability and price. When the renter finds a vehicle that suits their needs, they can request a trip time. Once a mutual agreement is made and booked, the renter picks up the car and returns it as discussed. Both sites have a peer review system to rate both renters and vehicle owners.

Zipcar. Zipcar offers car rentals through a membership program. With the flexibility to rent by the hour or the day and many convenient locations, Zipcar is a great option for someone who needs occasional automobile access.

Lyft. Skip the rental altogether and opt for on-demand ridesharing with the touch of a button. Lyft is an app that allows passengers to connect with nearby drivers to get where they need to go.  Depending on the city, Lyft rides are donation based or have a set price.

Of course, if you own a car (and you can tolerate the risk of a stranger driving your vehicle or riding alongside you), you can get in on the other side of the equation and bring in some side income.

Should you rent or buy a bike?

As a city dweller, I prefer to use a bike as my primary mode of transportation, but I have yet to take the plunge on buying my own. I opt for the city bikeshare program that saves me from worrying about storage, theft, maintenance, and traveling with a heavy lock and chain all over town.

When I travel out of town, I prefer to scour craigslist for bike rentals rather than the expensive, local retailers. Sites like loanables and zilok also make it easy to find a bike near you. Alternatively, as a bike owner, you can create your own listing and start generating income off your two wheeler.

Should you rent or buy certain clothing?

There are certain articles of clothing that are only necessary for special occasions. Do you really want to spend a fortune on something you’ll wear once? Rather than splurging on an evening gown that you have to store in your limited closet space, you now have the option of renting designer labels.

Rent the Runway. Rent the Runway offers over 50,000 designer dresses and accessories for short-term rental delivered right to your door.  If black tie occasions are not a norm, this is a great option for getting glam for a fraction of the price.

Despite the awesomeness that is rent the runway, I have to go for the buy option on my formal apparel. I have between one and three black tie affairs to attend annually.  Each of my evening gowns have seen enough wear to cover the cost of a one-time rental. And for the men, no one will bat an eye if you wear the same tux twice.  Go ahead and buy one already – just remember to maintain your figure!

What about equipment, tools, and everything else?

In addition to bikes, loanables and zilok allow you to rent just about anything. From Xboxes (which can be up to $500!) to sewing machines to ladders to kitchen aid mixers, determining which items to rent, which to buy, and which to list, will always depend on your specific needs, circumstances, and risk tolerance.

Whatever you’re considering, think about these questions:

  • What is your projected cost per use of the item?
  • Are you willing to invest the time and energy to make a rental income off your item?
  • Do you trust strangers to keep your rental in good condition?
  • Do you prefer the convenience of renting?
  • Do you prefer the convenience of ownership?
  • Lastly, is it worth the cost?

Filed Under: Save Money Tagged With: bike, buy, car, car sharing, home, loan, owner, purchase, rent, rent the runway

Hack Your Data Plan To Save Money, Browse Faster

By Frugaling 4 Comments

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Hacking a Computer and Smartphone Data Plan
Hackers Gonna Hack. Photo: Mr. Cacahuate/Flickr

Cellular data plans still cost a small fortune for many users. Data (measured in KB, MB, and GB) is being sent from cellular towers to main Internet lines, and this process often begets a premium to traditional broadband or cable. Unlimited data plans are often more expensive than limited options; if you’re frugal, you’re likely sticking with a pre-paid option.

If you’re stuck on pre-paid, family, or limited data plans, you might have lofty bills, angry siblings, and/or go data-less if you’re over the limit. The inherent problem with many apps is that they are constructed to be data intensive, rich. All the flash and pomp adds up. This can leave your monthly data plan on empty. With some forethought and these three applications, you’ll see your data plan have new power.

1. Google Chrome for Mobile (Android/iOS)

Chrome for OS Data Plan
The All-New Chrome For OS Will Save Your Data Plan

Over the last week, Google released major updates to the iPhone iOS version of its app. Branded as Chrome for iOS, users can activate bandwidth compression technologies that can reduce your data traffic substantially and speed up browsing. Here’s some more information about this development:

By having your web browsing flow through Google’s servers, the company can compress your data (and especially images) to help you save up to 50 percent of bandwidth while you are browsing. Google will not, however, use the proxy for any connections to any sites that use secure connections (HTTPS). (Techcrunch.com)

Like the rest of these apps, some settings must be enabled to engage in data savings. Most everything that Google releases requires an opt-in (especially if it has new privacy implications). The Google Chrome Blog details the necessary settings:

To start saving data and turn on an even more secure browsing experience, visit “Settings” > “Bandwidth management” > “Reduce data usage.” Then simply turn the toggle to “On.” From this menu, you’ll also be able to track how much bandwidth you save each month as you browse on Chrome.

2. Pocket (Android/iOS)

Pocket App Logo Data Plan Savings Hack
Save Your Favorite Articles Offline For Easy Browsing And No Data Plan Usage

Oftentimes, when flying, in no-service areas, and/or nearing the end of my data plan budget for the month, I need an app that gives me access to news offline and on the go. That’s why Pocket is perfect! It downloads everything to the app, in the background (whether open or not). When I save an article on my computer, it automatically syncs the article to my phone for access anywhere, anytime.

The app works smoothly on every platform I’ve ever used and the staff is inspirational in their design. It could not be simpler to use and setup. Once you start syncing articles for access offline (pictures and all), you may find that your data use is escalating. That’s why you need to go into the app and enable a simple setting.

Start by going to “Offline Downloading” within “Settings.” Under this main section, slide the switch on to “Download Only on Wi-Fi.” Now, you can have all the news articles and financial info downloaded right to your phone – no more browsing necessary – and without the massive bandwidth usage.

3. Mailbox (iOS)

The founder of Mailbox app wanted to design a program that finally treated email in a new, functional way. Instead of slowly going through the massive piles of email, the creative team at Mailbox devised a way to organize the clutter for easy reading and task management.

Data Plan Mailbox App Savings
Mailbox App Putting Mail In Its Place And Saving You Data

Unlike most mail apps for mobile platforms, Mailbox strips all messages of rich text, images, and videos. By limiting the type of information to pass through the email system, your phone can receive messages that are comparable to the size of a text message (very small). Moreover, you can expect email to be delivered faster and with less latency. A pretty wicked combo!

What smartphone apps do you use to save data? Do you have any programs that hog much of your plan? Any other apps that you’d recommend?

Filed Under: Save Money Tagged With: app, apps, cellular, chrome, Contract, data, Gmail, Google, ios, mailbox, os, plan, play, pocket, smartphone, wireless

5 Steps To Remove Ads And Stop Feeling Like A Flawed Consumer

By Frugaling 4 Comments

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Gigantic Louis Vuitton Suitcase Occupies Russia's Red Square Photo
Gigantic Louis Vuitton Suitcase Occupies Russia’s Red Square. Photo: Andrey Rudakov/Bloomberg

An Advertisement-Based Society

We’re living in an increasingly advertisement-fed society. Research suggests that billions of dollars are spent on advertising in the United States alone. Unfortunately, more specific numbers are hard to come by in the this largely incalculable industry.

What we can posit is that advertising works. Companies utilize time-tested and psychologically-approved marketing tactics to induce a biological need for the product – that intense craving. Nothing expresses this societal shift more than the novel and film, Fight Club:

You have a class of young strong men and women, and the want to give their lives to something. Advertising has the people chasing cars and clothes they don’t need. Generations have been working in jobs they hate, just so they can buy what they don’t really need. We don’t have a great war in our generation, or a great depression, but we do, we have a great war of spirit. We have a great revolution against the culture. The great depression is our lives.

The Flawed Consumer

Usually, advertisements point out the benefit of one product over another. But the most nefarious ads exclaim how flawed the consumer is to induce spending (often with beauty-related products). In fact, these ads can lead to greater materialism, fragmentation, body image concerns, and drinking behaviors (just to name a few). Successful advertising means a subsequent purchase occurs, and it’s a harsh reality for those affected.

Stopping the deluge of advertisements to your eyes may be impossible in the developed world, but it doesn’t mean you can’t fight back. Over the last year, I’ve been heavily researching consumerism, materialism, and spending behaviors as they relate to psychological decline. Even though we’re constantly advertised to (even on this site, sorry), reducing accessibility may see your bank account swell and your psychological health return.

Remove Ads And Follow These 5 Steps

The key is not anti-consumption (I’m not sure that’s possible); rather, critical consumption. For me, the best way to protect my budget has been the removal of as many ads as possible. The following are a few ideas to start you on a path of critical consumption, advertisement reduction, and wallet protection.

Step 1: Inoculation Training

To reduce the effects of advertising, it takes a defensiveness. Advertisements should be an affront to your senses. You will be advertised to, no matter what efforts you take (unless you live on an island without Internet nor access to the world around you). Becoming primed and defiant to ads is a key to frugality. Whether it be for moral or identity-based reasons, find a reason/way to dislike the advertisement in front of you. The further distance you find between it and you will directly influence the spending behaviors to come.

Step 2: Install Ad Blocking Programs

AdBlock is the king. This program works cross platform and browser to block ads before they even show up. Not only will it remove all the ads from sites like the NYTimes, but occasionally it blocks online video sites, as well. Installation is easy and within seconds, your online exposure plummets.

Step 3: Install Cookie Blocking Programs

Cookies are the stalker of the world wide web. These follow you without permission and are ultimately used to sell you relevant products. The easiest way is to block them entirely for implanting themselves. A program like Ghostery, which also works with Chrome and Firefox, will prevent the tracking for you.

Step 4: Unsubscribe and Filter Corporate Emails and Junk Mail

When a spam or junk email reaches your inbox, don’t just delete it. Spend the time to “unsubscribe,” mark it as spam, and/or create a filter to feed these messages straight to your trash can. Gmail offers a wealth of features to prevent further harassment – take advantage of it. As for unwanted mailers and credit offers, the most fun way to rid these is by installing a program called PaperKarma. The app works on both Android and iOS. Open the app, take a snapshot of the unwanted mail, and they’ll do all the work to unsubscribe you. Also, those regular emails you receive from Groupon, Amazon, LivingSocial, etc. are just ads. The best deal is not buying anything.

Step 5: Don’t Bring Ads Inside

Much like Step 1, this is a philosophical decision and action-based prevention strategy. Make a rule for yourself not bring ads into your home or workplace. If you do subscribe to magazines, newspapers, or other mailers that have ads, try to tear out the important parts and recycle the rest. There is a satisfaction from taking back control of what you read and see. Proactive prevention of advertising is key.

Note: Not all advertisements are inherently bad. Those present here help to support the costs associated with this website. Likewise, charities frequently advertise to encourage donations and support.

Filed Under: Save Money Tagged With: ads, advertisements, advertising, browser, Consumer, cookies, fight club, ghostery, paperkarma, web

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