Pa. cities try to lure Amazon, touting bikes, food

Monroe County joins multi-county effort to entice corporate giant to area

Source Business - poconorecord.com http://ift.tt/2gQNNNn

5 Easy Steps to Saving Thousands on Your Monthly Bills

This is a Crash Course in Everything You Need to Know About Credit Cards

Credit is complicated, amiright?

OK, maybe not the most confidence-inspiring thing to see on a personal finance site.

But it’s true. Credit cards and other debt come with interest we often don’t understand and payment terms we can’t live up to.

Even if you’re savvy and want to keep on top of your finances, just getting hold of the credit information that’s used to decide nearly everything in your life can feel like a feat.

We’re here to simplify all of this for you. To help you get smarter about credit, pay down debt and put more money in your pocket, here’s a quick rundown of some credit card basics:

(Hint: Bookmark this page to come back to anytime you have questions about using credit cards! You’re welcome.)

How to Build Credit

The weird conundrum about credit is you have to have it to earn it — but you would have had to… have credit to earn that original credit?

It sounds like a disaster, but don’t worry. This isn’t a high school lunchroom. You can totally break into the cool kids’ circle. Here’s how to start building your credit from scratch.

Why You Should Use Credit Cards Instead of Cash

We think Dave Ramsey was wrong when he said, “Responsible use of a credit card does not exist.”

It’s true credit cards are tough to keep under control, and that’s why so many people are afraid to use them. But you can do it. And when you do, you get to reap fantastic rewards!

Here are 10 smart reasons to pay with credit cards — as long as you can pay your balance off at the end of each month.

Which Credit Cards Should You Use?

Not all cards are equally beneficial. With some, you simply run the risk of building a bunch of debt with a high interest rate.

With others, though, you can earn free flights and hotels, points toward food and entertainment, and even cash. Here are a few to consider:

• If you’re a jet-setter, here’s how to choose the best travel-rewards card — and a few cards to check out.

• Here are four great credit cards for new parents (even if your credit stinks).

• We always recommend the Barclaycard CashForward™ World MasterCard®, because it lets you earn 1.5% cash back on all purchases. You’re rewarded just for making your everyday purchases!

Is an Annual Fee Ever Worth It?

Ever wonder if you should pay to use a credit card? Lots of great credit cards come without fees, so why choose one with an annual fee? Because those are often the ones with the best rewards!

Cash-back rewards could net you a profit over the annual fee for your card. In that case, the fee could be worth it.

But it gets tricky (of course). To help you figure out whether the credit card you’re considering is worth it, our contributor Steve Gilman created this simple formula.

How to Keep Track of Your Credit Score

Once you establish credit, you’re going to want to keep an eye on your activity.

Credit card companies, lenders, landlords and others will use your credit report to determine whether to trust you. You can make sure you understand what kind of impression you’ll make by watching your credit score and report closely.

(Pst. Credit score and credit report are not the same thing.)

First things first: What the F*CO is a credit score? In plain English, we explain credit score basics and why you need to know yours here.

And we compared two common apps that show your free credit score: Credit Sesame versus Credit Karma — which is best for you?

How to Read a Credit Report

You want more than just that grade. You want to understand what earned you the grade.

That’s why you’ll want to see your credit report — the statement that lists information about your credit activity and current situation, like payment history and status of your credit card accounts.

Here’s how to get your free credit report (no sneaky tactics here) — and how to understand the financial mumbo jumbo it contains.

One bummer: You might find mistakes on your report. Lenders and reporting agencies are far from perfect, so they might neglect to update your credit report when you pay off debts, for example. Or someone will hit the wrong key at the office, and your credit will be marred with some debt you never touched.

Here’s how to fix those mistakes on your credit report.

What Affects Your Credit Score?

I’ve noticed an odd phenomenon: When you visit any site that lets you check your credit score, it always has a big note that says, “This won’t affect your credit score!”

That’s true: Checking your credit score won’t hurt it. When you think about it, wouldn’t that be ridiculous? That’s like if your professors docked your grade when you ask to see your test scores.

But people still believe this myth, because the algorithm that determines your credit score is as confusing and scary as the one that determines what you see on Facebook (and nearly as life-altering…).

Here’s what’s actually included and how much each weighs into your score:

• How much of your available credit you use: 30%

• How old your credit accounts are: 15%

• The variety in types of credit you’ve taken out: 10%

• How often you’re applying for new credit: 10%

Here’s a more detailed overview of the types of activities that can affect your credit score (and those that can’t).

On a similar note, here’s exactly how closing an old credit card can affect your score.

And one more thing: What happens to your debt when you get married? A lot of bad information makes the rounds on that front, so let’s clear it up. Here are six myths about debt and marriage you should stop believing right now.

How to Pay Off Credit Card Debt

To redeem Dave Ramsey, we do like the debt-payoff method he pioneered called the debt-snowball method. (Click that link to learn all about it.)

While it’s not the most perfect way to pay off credit cards — because it lets debt sit and gather interest — it’s a smart way to get moving when you feel immobilized by how much you owe.

Experts would recommend what’s come to be known as the debt-avalanche method of debt repayment.

This method eschews the instant gratification you get with the snowball method, but it’ll probably save you more money in the long run.

How to Consolidate Credit Card Debt

Another option to consider when you have a lot of debt to pay off is consolidation. This basically means you’ll take out one big loan to pay off your smaller credit card debts.

Ideally, that loan has a lower interest rate than your credit cards, so you’ll owe less long term. Plus, you’ll just have the one monthly payment to worry about instead of a bunch of payments with a bunch of due dates.

If you want to consider debt consolidation, here are six steps to get you started.

What to Do When You’re Out of Options

Sometimes life gets the best of you. We understand that. If you’re already up to your ears in debt and not sure what to do next, we’ve got a few final pieces of advice.

Those folks on the late-night commercials who promise to help you pay off debt quickly? They spin a good yarn, but their promises are often way too good to be true.

If getting help seems like the best route for you, here are four things to consider when choosing a credit-repair company.

If you’re dealing with debt-collection agencies, you don’t have to put up with harassing phone calls. Know your rights.

Any More Questions?

Credit cards and debt are sort of ginormous issues in the world of personal finance. They’re becoming ubiquitous in our lives, even though most of us barely understand how any of this works.

We hope these basics help untangle some of the confusion — but we know there’s plenty more to cover.

What more do you want to know about credit cards and repaying debt? Send us your questions, and we hope to answer them in a future post!

Advertiser Disclosure: Many of the credit card offers that appear on this site are from credit card companies from which The Penny Hoarder receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). We do not feature all available credit card offers or all credit card issuers.

Dana Sitar (dana@thepennyhoarder.com) is a senior writer/newsletter editor at The Penny Hoarder. Say hi and tell her a good joke on Twitter @danasitar.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

source The Penny Hoarder http://ift.tt/2gQLHNJ

10 Purchases You Shouldn’t Make With a Credit Card

This Study Says These 5 States are Most Vulnerable to Identity Theft

Been hacked lately?

I hate asking that question so casually, but 2017 has been a year of big-time data breaches, including the recent Equifax incident, which exposed approximately 145.5 million Americans’ info.

If you managed to squeak through the hackers’ cracks, you’re probably feeling pretty invincible, right?

Not so fast.

WalletHub recently concluded some Americans are more susceptible to these crimes than others. It analyzed a number of factors, including identity-theft complaints per capita and average loss per theft, in all 50 states plus the District of Columbia.

In the end, WalletHub found these five states are most vulnerable to identity theft:

1. California
2. Rhode Island
3. District of Columbia
4. Florida
5. Georgia

It also ranked states by the average amount of loss due to online identity theft. These states, in order of highest loss, include:

1. California
2. Rhode Island
3. Vermont
4. New York
5. Connecticut

In case you’re curious, the “lowest average loss amount due to online identity theft” award goes to South Dakota.

Yup, packing up my winter coats as we speak…

How to Protect Your Identity in Two Minutes

Start by taking the easiest of steps.

Create strong passwords, be mindful when shopping online and applying to jobs, and sign up for a credit-monitoring service.

I signed up for Credit Sesame — because if it’s free, it’s for me! — and now receive monthly credit-report updates to my inbox. Credit Sesame will also text me if anyone attempts to apply for credit in my name.

I can also review my credit report at any time for any suspicious activity. (And, no, it won’t hurt my credit score.)

Additionally, it covers me for up to $50,000 in identity-theft insurance. Fo’ free.

Honestly, it’s like a built-in alarm system for my credit report. Just like a security system for my house, it helps me sleep better at night. (OK, that’s cheesy, but don’t you sleep better knowing a shockingly loud alarm will sound if someone tries to break in?!)

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. She wishes she could keep virtual pepper spray next to her credit report. But Credit Sesame is a great alternative.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

source The Penny Hoarder http://ift.tt/2ywtQmy

10 Tired Corporate Cliches You Need to Drop and 5 New Ones to Use Instead

Subject: Re: Office jargon, slang, lingo, etc.

Hi all,

We know you don’t have a lot of bandwidth this week, but we felt the need to circle back and address some low-hanging fruit that should help improve your day-to-day.

Office lingo. We know you hate it.

And while it may be there to help improve synergy, break down silos and get everyone on the same page and speaking the same language, it can also annoy the heck out of your co-workers.

Or even worse, it might make you look less intelligent than the brainiac we all know you are. LOL.

Now, to address the elephant in the room: What exactly is office jargon?

To get you and everyone else on the same page, we put together a list of the 10 most soul-crushing, grating, annoying, downright pull-my-hair-out-right-at-my-standing-desk phrases that probably make your coworkers want to hide from you in the bathroom.

Please, Please, Please Stop Using These 10 Corporate Jargon Phrases Immediately

We can guarantee you’ll seem 50% more intelligent and 100% more original if you drop these phrases from your vocabulary.

“Reach out”

This is a common one in our wide world of writing. You’ve always got to reach out to someone: a source, an expert, your editor. But come on, unless you’re singing along to Depeche Mode, you can find a better way to say “I need to call so-and-so.” Hey, why don’t you try that!

“Ping me”

Ping you? Really? How about I email you, text you or send you a Slack message. I get that it’s a catch-all for quick communication, but can we be more specific? And don’t you dare start saying “beam me” for video conference calls.

“Rightsize”

This might be the most soul-crushing office slang. It means layoffs, pink slips, the big goodbye. How about you rightsize your vocabulary before making such a big decision?

“Bio break”

Techies have done a lot to improve our lives, but coining the phrase “bio break” in the halls of startups was not one of them. (Hint: It means you have to go to the bathroom.)

“Circle back”

I’m not sure how this one has so deeply pervaded corporate speak, and I don’t want to “circle back with so-and-so on that” to find out. Say this instead: “Let’s talk about project X again tomorrow.” See how much better that feels?

“Synergy”

An oldie but goodie, synergy ostensibly means when teams across departments work together to accomplish a single goal.

“Let’s piggyback off that”

This phrase is only acceptable if you actually climb on your coworker’s back before you say it. Try “Cool, here’s a similar idea,” if you’re too new to the company for unsolicited piggyback rides.

“In so-and-so’s wheelhouse”

First of all, you don’t work on a ship. Second of all, this is just a sneaky way for you to pass the buck — er, give someone else work you don’t want to do.

“Leverage”

This probably trickled down from the finance industry, where it literally means to borrow money in pursuit of profit. In the rest of the corporate world, it means to use your strengths to your advantage… I think. This one is a great example of the vagueness of these terms that leaves them meaningless and completely useless when you’re trying to make a point.

“Let’s live Slack”

I had to put this on here even though it may be exclusive to The Penny Hoarder. We use Slack so much that we’ve come to specify when we want to talk face-to-face. Live Slack? YOU MEAN TALK?

Here Are Five Made-Up Office Lingo Phrases to Use Instead

Now that we’ve got the list of annoying corporate speak out of the way, it’s a no-brainer that we piggyback off that problem with a solution. Here are five phrases we just made up.

At worst, they’ll replace some of the outdated lingo from above. At best, they will enlighten your colleagues to the evils of cubicle jargon.

“Let’s cloister this carnival”

Meaning: There are too many people providing input on this subject.

“Can we pickle this?”

Meaning: This meeting is dragging a bit, can we take a break and return to the issue later?

“Let’s not throw a chicken into a woodchipper”

Meaning: It appears we’re thinking of complicated solutions for a simple problem.

“Blorp later?”

Meaning: I’ll contact you in some fashion later today.

“I’m drowning in marshmallows here!”

Meaning: I’m pretty stressed out about this project.

Now, let’s take this offline.

Alex Mahadevan is a data journalist at The Penny Hoarder. He unironically says LOL all the time.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

source The Penny Hoarder http://ift.tt/2kYoGN9

19 Super Creative Spaces People Have Listed on Airbnb (That Aren’t Houses)

It’s Now Easier Than Ever to Find Free Ebooks Legally, Thanks to Google

Google just made it easier for you Penny Hoarding bookworms to save a little cash while supporting your local libraries.

Now, when you Google a book, you can see if your local library has a copy of the ebook right on the first page. The web-search giant announced the upgrade via Twitter last month, and I tried it out today to see how user-friendly it is.

I’m reading “Between the World and Me” by Ta-Nehisi Coates. I borrowed my copy from a friend, but you can probably borrow a copy from your local library.

When I searched the title on Google, I saw the normal search results: a link to purchase it from Amazon, a Goodreads rating, the New York Times review.

But just below the information pulled from Wikipedia and the purchasing options was the “Borrow ebook” section that showed the three library systems near me that offer it in ebook format.

To borrow the ebook, all I would need to do is click on the library system I am a member of and follow the borrowing process on the library’s website.

You don’t need a library card to see if the book is available, but you will need one to borrow the ebook or place a hold on it if someone else got to it first.

Google Won’t Tell You About Everything Your Library Offers

While this new Google ebook feature is pretty awesome and will save you from having to read the often awkward formatting of the “free” (read: stolen) PDF versions of your favorite books, Google won’t passively show your library’s entire catalogue.

I tried searching for movies I knew were available at my library and a few other unexpected things libraries lend, but there was no “borrow” feature there.

For now, that means the Google feature can only be used for ebooks, but we could all use another reason to visit our local libraries, right?

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder. She really recommends “Between the World and Me.” It’s a fantastic book.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

source The Penny Hoarder http://ift.tt/2kYg7lp

How to Build Your Email List Using Facebook Live

How often do you use Facebook Live video streaming?

If your answer is never or not very often, you need to change that.

You can use Facebook Live for various marketing campaigns.

It can also help you add subscribers to your email list.

Leveraging your live video streaming skills the right way can help you multitask.

Obviously, you want to promote your brand, products, and services.

And you want to add more people to your email list.

Facebook Live allows you to do all of these things simultaneously.

One of the best parts of this live-streaming platform is the quality.

You won’t have to worry about lag time or stability.

During the 2016 Presidential debates, Facebook Live had the lowest delay time of all viewing platforms.

That was with nearly 300,000 people watching the debates on Facebook at the same time.

Those are impressive numbers.

Concerns about video quality or lag are no excuse for you to be avoiding Facebook Live.

In this post, I’ll explain how you can use this marketing tool to grow your email list.

Give an in-depth explanation of different subjects

Facebook allows you to stream live videos for long periods of time.

However, there is a 4-hour time limit for each live stream.

Do you need to go live for 4 hours?

Not necessarily.

But longer videos generate more views than shorter ones.

In fact, last year, four of the top five most viewed Facebook Live videos were over 3 hours long.

There’s no magic number you need to reach that says you’ve been on long enough.

Generally speaking, long videos give you more time to attract a large audience.

Ask your followers to receive a notification whenever you go live.

Just have them click the “Follow” button in the bottom right corner of your stream:

This will help ensure you get more viewers during the video.

Facebook Live streams get watched 3 times longer than regular videos on Facebook.

What should you do with all this time?

Take advantage of it.

If you’re trying to grow your email list, give your viewers a pitch for why they should subscribe.

What kind of value are you offering your subscribers?

They won’t just join your email list because you tell them to.

If you’re planning to be on Facebook Live for several hours, understand that your audience will change throughout this time frame.

Just because you plugged your email list during the first 10 minutes of the stream doesn’t mean you can’t do it again later.

Look, I’m not saying you should sound like a broken record. You don’t need to bring it up every five minutes.

But make a conscious effort to direct the viewers to sign up for your emails a couple of times through your broadcast.

Promote your products

Let’s piggyback on that last topic.

You’ve got lots of time to spend in front of your audience.

Use that time wisely.

Pitch your brand, products, and services.

Consumers would much rather watch a video about your product than read about it.

Here’s a great opportunity for you to kill two birds with one stone.

The birds are:

1. product sales
2. email list growth.

Ultimately, you’re trying to add email subscribers so you can increase sales and conversions, right?

It’s not often you have a chance to add subscribers while promoting your product at the same time.

This is how you can do it.

Tell your Facebook Live audience about your product.

Now, tell them you have exclusive discounts and promotions for the members of your email subscription list.

It’s easy to accomplish this with Facebook Live.

As we already established, consumers would rather see your products in a video than read about them.

You’re giving customers exactly what they want.

This is a great way to create effective customer service.

Amazing customer service can help you double your revenue.

Pitch your products, and direct your viewers to sign up for emails so they can receive a discount.

Trust me, it will work.

Establish a personal connection with your viewers

Live video-streaming is the perfect opportunity for you to show off your personality.

Be funny.

Show the audience you’re a real person, not a nameless and faceless brand.

Be personal and personable.

It will help you develop a longer relationship with your customers.

Facebook Live is the perfect platform to enhance the customer experience.

What happens when you establish a personal relationship with your customers?

They are willing to spend more money.

Let’s take a step back to analyze this.

If a customer is willing to spend more money based on a personal connection with your brand, what else would they be willing to do?

Surely, they will join your email subscription list.

Just ask.

It’s free, so they should be on board with this.

Remember to bring up your email subscriptions during your live streams.

If you’ve got a good personality, your viewers will want to hear from you.

This is a perfect chance to promote your blog.

Establishing a personal connection is one of the reasons why every business should have a blog.

During your Facebook Live stream, you can say: “Unfortunately, I can’t be streaming live 24/7.”

If your viewers want more exclusive content, tell them: “Sign up for my email list, and you’ll get notified every time I release a new post.”

This will keep your viewers, readers, and customers interested in your brand.

It’s also a simple way to help you add subscribers to your email list via Facebook Live.

Use interactivity tactics

Get your viewers interacting with you during the live stream.

How? Through:

• likes
• shares
• comments.

Facebook Live videos are native, meaning they play within your feed instead of linking to another site.

Native videos on Facebook have a 1055% higher share rate than videos with an outbound link.

What does this mean?

Viewers are already more inclined to share your video and interact with you while you’re streaming. Encourage them to do more.

Let’s say you’re running a contest.

Randomly select a viewer who liked or shared the stream.

You can even run a contest within the comment section of the live video.

Encourage comments by saying you’re going to pick the most creative or funniest comment.

Here’s how you can translate these interactions into growing your email list.

After you select a winner and give away a prize, announce you’ll be running another online giveaway for the subscribers on your email list.

The viewers just saw you’re giving stuff away, so this gives them an added incentive to subscribe to your email list.

Facebook Live is the most popular live streaming application.

Encouraging interactivity here is your best shot at attracting the most viewers.

If you have more viewers, you’ll have a greater chance of adding people to your email subscription list.

Dedicate a specific time each week to go live

Think of Facebook Live like of your own television show.

What’s your favorite program on TV? It doesn’t just come on randomly, right?

The show plays at a specific time each day or each week. That’s how it builds an audience.

You can apply the same concept to your live streaming.

You just learned that a larger audience increases the chances of getting more email subscribers, so make sure you go live on a regular basis.

What’s the best time to go live?

Based on the graph above, the middle of the week is the best time for you to broadcast a live video.

Try to schedule your stream on Wednesdays if it works for your agenda.

The time of day when you go live matters too.

Going live late at night increases the average number of total engagements.

Take both of these graphs into consideration when scheduling your live streams.

Based on the data from this study, late Wednesday night is the best time for you to go live.

You’ll increase your chances of getting a larger audience that’s more actively engaged.

It’s the perfect time to promote your email subscriptions and build your list.

Just make sure your content is fresh.

Media publications use Facebook Live the most.

That’s because they tend to have breaking news stories on hot topics.

Don’t go through the same script every week.

Mix it up to keep the audience entertained and wanting to come back for more.

Use different platforms to drive traffic to your live stream

Promote your live videos.

Facebook has 2 billion active monthly users.

But that doesn’t mean you can’t promote your live stream on other platforms.

Tell your current email subscribers about your live video schedule.

They may forward that email to a friend or tell people directly.

Promote your live videos on:

• Instagram
• Twitter
• Snapchat
• your website
• blogs

Use all your resources to drive traffic to these videos.

It’s worth it because your videos will yield a high return on your investment.

It won’t cost you much money to broadcast a live video.

Sure, it will take some time out of your day, and maybe you’ll give away some products.

But both of these are marginal costs compared to other marketing campaigns you’re running.

This is especially true if you can convert your live video viewers into email subscribers.

The ROI for email marketing is extremely lucrative as well. On average, companies can expect to earn $44 for every $1 spent on email marketing.

This return is up to four times greater than returns on other marketing tactics.

It’s worth your efforts to promote your Facebook Live videos on other channels.

More viewers means more email subscribers and a high return on your investment.

Add captions to your videos

We know that 85% of Facebook Live videos get watched without sound.

Adding captions to your videos can increase the average viewing time by 12%.

This is important to know.

It’s likely that the majority of your viewers will be watching you on mute.

You can’t rely solely on your words.

Have some props and other visuals ready when you’re broadcasting.

Get some professionally made signs and posters with information about your brand.

You can hold these up periodically, depending on what you’re talking about.

I’d also recommend having some signs fixed in the background of your stream if you don’t plan on moving around too much.

Use a third party closed caption service, like Telestream or Ai-Media, to enable live captions.

This way, everything you say will be transcribed on the screen for your viewers to read.

Since the majority of these people won’t be watching with the sound on, it’s a great way to increase viewer retention.

This will make it much easier for you to add subscribers to your email list.

Conclusion

Facebook Live isn’t going anywhere.

In fact, Facebook even paid people to go live in order to promote this platform.

This is great news for you as a marketer.

You can use Facebook Live to build your email list.

Since this platform lets you stream for up to 4 hours at a time, it gives you a chance to go in-depth about certain topics.

Longer streams increase your chances of obtaining more viewers.

Tell your audience to “follow” you, so they receive a notification every time you go live.

Promote your products during a live stream.

Run contests and giveaways.

You can use these promotions as an incentive for the viewers to join your email list.

Show off your personality, and establish a connection with your audience. Customers are likely to spend more money with brands they trust.

The best time to go live is Wednesday nights. That’s when you’ll have the best chance for the most viewers and a high engagement rate with your audience.

Enable live closed captions on your stream since the majority of the people watching will have the sound turned off.

During your next Facebook Live stream, what promotion will you use to entice your audience to join your email list?

Source Quick Sprout http://ift.tt/2xPHMuM

The Double-Edged Sword of Financial Friction

The other day, I was at a home brew supply store. I had stopped in to simply buy some bottle caps with which to cap individual bottles of my most recent batch of home brew. Such a purchase would just cost a couple of dollars.

While I was in there, I found myself admiring their refreshed sale table – items that were on discount. The local store loves to do this – they’ll put items on the sale table all the time, and they put that table right up next to the register to tempt people.

My temptation was a particular book on home brewing that I’ve been looking at for a while, and it was marked at 40% off.

I thought about it for a minute. Did I have enough left in my hobby budget this month to swing this purchase? I was pretty sure that I did. So, after holding onto it for a minute or two (that ol’ “ten second rule” at work), I decided to buy it.

I took the book home and have thoroughly enjoyed it, but that’s not where the story ends. That evening, I looked through my recent transactions on my credit card and I discovered that I had made another hobby purchase earlier in the month that I had forgotten about, another fairly small purchase that just slipped my mind.

Together, those two overshot my hobby budget for the month.

How did that happen? Well, for one, it was my own fault for simply forgetting how much I’d already spent that month.

At the same time, the pure ease of use of that credit card enabled me to make that poor choice quickly and easily.

That’s because credit cards lack what I like to call “financial friction.”

Financial friction refers to the amount of effort necessary to actually complete a transaction. The less financial friction there is, the easier and faster it is to make purchases, but when it’s easier and faster to make purchases, it’s also easier to make a mistake while making a purchase.

Credit card purchases inherently have less financial friction than cash purchases. With a credit card purchase, you simply pull out a card and swipe it – at most, you just think about which card to use. With cash, you get out your cash, count it out to make sure you have enough, choose the bills needed for the purchase, hand them over, and receive your change from the purchase.

In other words, when you make a cash purchase, you are much more aware of the fact that you are actually handing over money to the retailer, as compared with a credit card purchase.

The same thing is true online. Online retailers do everything they can to reduce friction, taking you from a product page to a “Thanks for your order and payment!” page as easily and effortlessly as possible. Amazon has tried very hard to encourage one click ordering so that ordering dissolves down to one mouse click, for example.

On the surface, low financial friction can seem like a good thing. If there’s less friction in a brick and mortar retailer or at a restaurant, you spend less time actually dealing with the transaction. You’re not standing there counting out cash. You’re not waiting for the clerk to count out your change for you. You just swipe, (maybe) sign, and go. Similarly, if there’s less friction at an online retailer, you can spend a lot less time there – you can have your product shipped to you with just a few clicks or taps at most.

Here’s the drawback, though: the less financial friction there is in a transaction, the less you have to think about that transaction, and the less you think about a transaction, the more likely it is that you’re going to make a transaction that doesn’t really fit into your long term plans.

Let’s rewind back to my stop at that home brewing supply store. That sale item was on the table, so I snagged it and headed to the checkout. If I were paying with cash and I kept my hobby money purely in cash form, I would have seen that I didn’t have enough to buy it when I stopped to actually count out the cash. The simple friction of the purchase would have kept me from making that shopping mistake.

Because I didn’t have that friction, because I went for the low-friction purchase with my card, I didn’t have an opportunity to see that mistake. Instead, I relied on my memory, and human memories are faulty beasts. My memory didn’t recall any exceptional spontaneous purchases and quickly concluded that I had a few dollars remaining in my hobby budget that month, enough to afford that book.

The low friction of that purchase led directly to my overshooting of my hobby budget for the month.

Now, I’m not blaming credit cards for this. It was my own fault that I wasn’t fully aware of how much money I had left in my hobby budget. This was my mistake, without a doubt. I could have – and should have – reviewed my hobby budget before ever setting foot into that store so I would know exactly what I could afford to spend.

The truth is that credit cards and one-click purchasing and all other tools retailers use to lower the friction of purchases are like a very sharp knife. It is not the fault of the knife if you cut yourself. Instead, it is the fault of the operator – the operator isn’t mindful enough of the sharpness of the blade or careful enough to avoid cutting themselves. (I should know – I have a pretty significant slice on the tip of my left index finger that resulted from using a bread knife recently without enough mindfulness.)

In the hands of someone who is mindful of what they’re doing, however, a sharp knife is an incredibly efficient tool that makes meal preparation much faster. A sharp knife reduces meal preparation “friction,” in other words; it cuts down on the time one spends chopping vegetables or cutting up meat.

A credit card is very much like this. A credit card reduces purchasing “friction” – it cuts down on the time and thought one spends making a purchase.

Here’s the thing, though – someone who is prone to cutting themselves with a sharp knife should probably consider changing something about what they’re doing. Maybe they can start using some kind of knife guard. Perhaps the right move is to simply avoid cutting vegetables. Maybe they need to get into a habit of being extremely mindful when they’re chopping vegetables. (In my case, perhaps I shouldn’t try to use a left-handed bread knife for the first time without using extreme care when I’m right-handed and have never used one before.)

Similarly, a person who is prone to making financial mistakes with a credit card should probably consider changing something about what they are doing. Perhaps they should restrict their credit card use to only specific kinds of purchases, like buying gas at the pump, and use cash for everything else. Maybe they should delete their credit card information from online accounts. Perhaps I should keep their monthly hobby and entertainment budget in cash form so that they can keep track of how much they have left.

Perhaps most of all, the lesson here is to respect tools in your life that reduce friction. Anything that enables you to do a task faster than before, with less active thought, is very likely to backfire on you at some point. Think about cell phones – how often have you texted someone something that was ill-considered, or posted a social media response that you probably wouldn’t have done if you had more time to give it some thought? That’s low friction at work. Have you ever dashed off an angry email, something you would have never sent if you were communicating by written letter? That’s low friction at work. You might even discover that you make other financial mistakes besides credit card mistakes thanks to low friction, like buying or selling a stock investment online because it’s so convenient when you would have never done so if there was a bit more friction in the way.

The next time you head out to a store where you know you’re going to be tempted or distracted, respect the tool you’re using to make purchases. If you’re going to use a credit card, take extra care to be mindful of potential spending mistakes that you might make simply due to the low friction. In fact, you might want to consider just withdrawing cash beforehand from an ATM, so you know exactly how much you can afford to spend in there. That adds some real friction to the equation.

Good luck.

The post The Double-Edged Sword of Financial Friction appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2kYbcky

You Down With TVP? Get Vegetarian Beef Without the Pre-Made Price

How We Vacationed Across America for Just a Few Hundred Bucks

Nine Easy Bean Recipes to Save Time and Money

When it comes to cheap meal staples that work for nearly any budget and dining style, it’s hard to beat beans. Whether you crave comfort food, ethnic dishes, or one-pot meals, you’ll find a ton of recipes that feature different beans as the star.

Beans are also a good source of protein and fiber, as well as a great way to get enough iron, calcium, and other nutrients in your diet. Better yet, beans are downright cheap to buy in a can, but even cheaper if you buy them dried or in bulk. And unlike other proteins like meat or fish, they stay fresh for months, making it easier to avoid food waste.

If you’re trying to lower your grocery bill, want to add new recipes to your menu, or simply want to explore cheap foods to see what you like, it’s smart to add beans to your list. Since you can often pick up a can for $1 or less, why not?

Cheap and Easy Bean Recipes Families Love

Before you throw a can of beans in a pot, it helps to have some recipes in mind. With a few simple steps, you can even make a fancy bean-based meal that will wow your family and friends.

Here are some easy and inexpensive recipes to start with — they them as-is, or experiment with variations to fit your family’s tastes:

#1: Sweet Potato and Black Bean Burritos

I cook this recipe at home all the time, although my recipe is constantly changing based on the ingredients I have on-hand. Here’s what you need to get started:

• 3 medium sweet potatoes
• Olive oil
• Cajun or chipotle seasoning
• 2 14-ounce cans of black beans
• 1 can of corn
• Container of cherry tomatoes
• Bunch of cilantro
• 2 avocados
• 2 limes
• Flour tortillas

Start by shredding the sweet potatoes with a Veggie Bullet, or grate them by-hand. Spread the grated sweet potatoes on a pan and drizzle them with olive oil. Sprinkle with Cajun or chipotle seasoning and bake at 400 degrees Fahrenheit for 30 minutes.

Add corn, diced cherry tomatoes, diced avocado, and chopped cilantro in a bowl. Stir the mixture while squeezing lime juice over the top. Sprinkle with salt and pepper.

Heat your black beans in a pain on the stove for 10 minutes while the sweet potatoes cook. Salt the beans to taste.

Once your sweet potatoes are fully cooked, assemble burritos starting with a layer of sweet potatoes. Add on a few scoops of beans then the mixture of corn, tomatoes, and avocados on top.

#2: Beans and Cornbread

This recipe is an embarrassing one to share, because there’s almost nothing to it — but it’s worth mentioning because it’s tasty and so easy to make. In fact, it’s a good one to keep in your emergency food fund to avoid dining out.

Start with a big jar of Great Northern beans. Empty them into a pot and heat on medium over the stove. Then make your own cornbread, either from scratch or with a mix. If you want to go really cheap, you can go with a box of Jiffy Corn Bread mix for around 75 cents. Just add eggs and milk and follow the directions on the box.

This Betty Crocker cornbread recipe is also an oldie but goodie. All you need is eggs, butter, milk, flour, sugar, baking powder, salt, and cornmeal.

When the cornbread is ready, smother it with the beans and dig in.

#3: Cilantro, Black Bean, and Corn Salsa

There are several good recipes for cilantro, black bean, and corn salsa out there, so make sure to find one you like. Personally, I think that simple recipes with fewer ingredients tend to be better.

The salsa I make is similar to this recipe from Taste of Home. Here’s what you’ll need:

• 2 cans of corn, drained
• 2 cans of black beans, drained
• 8 plum tomatoes, seeded and chopped – or one cup cherry tomatoes cut in half
• Medium red onion, chopped
• 1 cup chopped cilantro
• ¼ cup lime juice
• Salt and pepper
• Tortilla chips

Add all your ingredients (minus chips) in a bowl. Add salt and pepper to taste. I also add around a tablespoon of Wildtree Fiesta Salsa Mix to mine. Serve with chips.

#4: Hummus with Vegetables

While hummus isn’t a meal on its own, it’s a great dip to pair with chips or vegetables for a healthy snack. I like to make my own hummus from scratch with just a few ingredients:

• 2 cups drained chickpeas (garbanzo beans)
• ½ cup tahini
• ¼ – ½ cup extra virgin olive oil
• 1 tablespoon minced garlic
• Salt and pepper
• 1 tablespoon lemon juice

Add all these ingredients into a food processor and pulse until you get the texture you want. You can add more or less olive oil for a thicker hummus if you desire. You can also consider adding spices like paprika or cumin. Either way, season with salt and pepper and serve with chips, pita bread, or sliced vegetables like carrots or zucchini.

#5: Baked Beans

Baked beans paired with ham or cornbread can make a hearty meal, but they’re also a popular side dish. Either way, you can buy baked beans in a can or make your own.

If you choose the latter option, I really like this recipe for maple baked beans from Oh She Glows. Here’s what you’ll need:

• 5 cups cooked navy beans (approx. 3 15-ounce cans)
• 1 large sweet onion (or 1-2 green onions), diced
• 3-4 tablespoons blackstrap molasses
• 3 tablespoons maple syrup
• 2 tablespoons regular mustard
• 2 tablespoons apple cider vinegar
• 1 cup canned diced tomatoes
• 1 teaspoon fine grain sea salt
• Handful of dried cranberries
• Maple butter or pure maple syrup

You can make this recipe in a slow cooker just by dumping in all the ingredients and cooking on high for 4 to 5 hours. Once your beans are ready to serve, drizzle with maple butter or maple syrup.

#6: Beans and Rice

There are a ton of ways to make beans and rice, but I make mine in a slow cooker. Add all these ingredients to your crock pot, then heat on high for 5 hours:

• 2 14-ounce cans of red beans, drained
• 1 cup chopped onion
• 1 cup chopped pepper
• 2 stalks chopped celery
• 2 teaspoons thyme
• 2 tablespoons minced garlic
• 3 cups vegetable broth
• 1 teaspoon paprika
• 1 cup rice

I like to serve beans and rice as a main dish, but you can serve it as a side dish, too. Since this is a slow cooker recipe, it’s also a great meal to prepare in the morning for dinner that night. If you need it to cook during your workday, follow the same directions but set your crock pot on medium for 8 to 10 hours.

#7: Vegetarian Chili

Vegetarian chili can be made in plenty of different ways, and you can even alter your recipe based on what you have on hand. You can also make it in a slow cooker by adding all your ingredients and heating on high for 4 to 5 hours.

I choose to make mine in a giant pot on the stove top. Here’s what you’ll need:

• 1 large can tomato juice
• 1 packet chili seasoning
• 3 cans diced tomatoes
• 4 cans kidney beans, drained
• 3 stalks celery, chopped
• 1 medium white onion, chopped
• 1 can Rotel tomatoes with green chilies
• 1 medium zucchini diced
• 1 box macaroni
• Shredded cheese
• Sour cream

Heat tomato juice on medium heat on the stove. As you wash and dice onion, celery, and zucchini, add it to the pot. As the mixture comes to a boil, add beans, tomatoes, and seasoning.

Heat on medium for half an hour, adding water as needed. Add box of macaroni and cook another 15-20 minutes, then serve with cheese and sour cream.

#8: Easy Bean Burritos

These bean burritos are hard to mess up. Kids and adults usually love them, and they’re packed with vitamins, fiber, and protein. Here’s what you’ll need:

• 2 cans black beans
• 3 cups shredded lettuce
• 1 medium white onion, diced
• 3 Roma tomatoes, diced
• Bunch of cilantro, chopped
• Shredded cheese
• Sour cream
• Flour tortillas

Heat your beans on the stove top for 5-10 minutes before assembling your burritos. Start with a tortilla and add a few spoons of beans, toppings you desire, cheese, and sour cream. Serve with a side salad.

#9: Black Bean Burgers

Black bean burgers offer a healthier alternative for the meat lovers in your life. They may also be cheaper, although they’re definitely more labor intensive than throwing a hunk of hamburger on the grill. Here are the ingredients you’ll need:

• 3 tablespoons olive oil
• 2 teaspoons minced garlic
• 1 can black beans, drained
• ¾ teaspoon chili powder
• ½ teaspoon chopped oregano
• ¼ teaspoon salt
• 1 egg, lightly beaten
• 1 cup cooked rice

Mix all of your required ingredients together in a bowl, taking special care to mash the black beans. Once your mixture is ready, separate and mold into four separate burgers. You can cook your burgers on the grill, in a heated skillet for 5 to 7 minutes on each side over medium heat, or in the oven at 400 degrees for 20 minutes.

Serve on a bun with cheese, lettuce, and tomato if you want, adding your favorite condiments as you go.

Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com.

Related:

• 10 Smart Ways to Use Leftover Beans
• 17 Vegetarian Recipes to Save Money On Meals
• 26 Favorite Cheap-and-Easy Meals

What is your favorite recipe with beans? Please share below.

The post Nine Easy Bean Recipes to Save Time and Money appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2gPI9uZ