Comments on: Financial Flexibility: What is it worth? http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/ Linux, Politics, Whatever... Thu, 10 Jun 2010 19:23:20 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Techfun http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/comment-page-1/#comment-496 Techfun Tue, 06 May 2008 14:11:20 +0000 http://blog.techfun.org/?p=714#comment-496 Thats interesting! For a two working parent household with two kids that would be a stimulus check of $1800.00 with a cashing fee of $45 bucks at the 2.5% rate. At that new 1.9% the fee for the same check drops to $34.20. Thats a 26.2% discount on the fee itself. Thats interesting!

For a two working parent household with two kids that would be a stimulus check of $1800.00 with a cashing fee of $45 bucks at the 2.5% rate. At that new 1.9% the fee for the same check drops to $34.20. Thats a 26.2% discount on the fee itself.

]]> By: DP http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/comment-page-1/#comment-495 DP Tue, 06 May 2008 13:50:54 +0000 http://blog.techfun.org/?p=714#comment-495 It may be interesting to note that the gimmicks that some of the stores have offered has actually had an affect on at least one check cashing place. I walked by a money tree the other day and noticed that they had lowered their fee for cashing government checks from 2.5% to 1.9%. It seems that they may be a bit worried that the grocery and department stores will take away their loyal customer base. DPs last blog post..<a href="http://prancingbull.com/start/2008/05/02/gas-tax-holiday/" rel="nofollow">Gas Tax Holiday</a> It may be interesting to note that the gimmicks that some of the stores have offered has actually had an affect on at least one check cashing place. I walked by a money tree the other day and noticed that they had lowered their fee for cashing government checks from 2.5% to 1.9%. It seems that they may be a bit worried that the grocery and department stores will take away their loyal customer base.

DPs last blog post..Gas Tax Holiday

]]> By: Will http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/comment-page-1/#comment-491 Will Mon, 05 May 2008 17:39:04 +0000 http://blog.techfun.org/?p=714#comment-491 Some of these offers are really creative, but in the end it is market and advertising. Nothing wrong with that, but it does indicate that retailers are worried about how much of the checks will actually be spent. I don't think there is going to be much of a stimulus. It will be interesting to see, if it can be determined, what actually happens with most of the stimulus money. I know in our case, we are suffering sticker shock for our kid's college expenses, so 100% of our money after necessary expenses goes to that right now. I would hope that anyone with credit card debt, would pay that off before buying anything new that is not absolutely necessary. I heard someone say the other day that baby boomers have done the best job of any group in child-rearing, but, as a group, have been terrible in almost everything else financial. Wills last blog post..<a href="http://willtaft.com/health/fat-cells-set-in-adolescence/" rel="nofollow">Fat Cells Set In Adolescence</a> Some of these offers are really creative, but in the end it is market and advertising. Nothing wrong with that, but it does indicate that retailers are worried about how much of the checks will actually be spent. I don’t think there is going to be much of a stimulus.

It will be interesting to see, if it can be determined, what actually happens with most of the stimulus money. I know in our case, we are suffering sticker shock for our kid’s college expenses, so 100% of our money after necessary expenses goes to that right now.

I would hope that anyone with credit card debt, would pay that off before buying anything new that is not absolutely necessary.

I heard someone say the other day that baby boomers have done the best job of any group in child-rearing, but, as a group, have been terrible in almost everything else financial.

Wills last blog post..Fat Cells Set In Adolescence

]]> By: Techfun http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/comment-page-1/#comment-489 Techfun Mon, 05 May 2008 14:47:30 +0000 http://blog.techfun.org/?p=714#comment-489 I noticed it when I ran some errands on Friday and my local grocery store (ACME - a subsidiary of Albertsons) had a poster up describing their version of the offer. I know many people have trouble qualifying for a bank account, but many local and regional credit unions, as well as smaller urban banks are developing programs to help consumers over this hurdle as a way to gain business and help consumers. But I do agree that many consumers have high interest rate debt that should be paid off ASAP and many folks would benefit by using these stimulus checks to pay down their debt. I noticed it when I ran some errands on Friday and my local grocery store (ACME – a subsidiary of Albertsons) had a poster up describing their version of the offer.

I know many people have trouble qualifying for a bank account, but many local and regional credit unions, as well as smaller urban banks are developing programs to help consumers over this hurdle as a way to gain business and help consumers.

But I do agree that many consumers have high interest rate debt that should be paid off ASAP and many folks would benefit by using these stimulus checks to pay down their debt.

]]> By: DP http://blog.techfun.org/2008/05/how-much-is-flexibility-worth/comment-page-1/#comment-487 DP Mon, 05 May 2008 14:25:44 +0000 http://blog.techfun.org/?p=714#comment-487 Very interesting post. I was unaware that stores were doing this, but you must admit that this is a smart gimmick on their part. Here is the main problem though. The average person who would appreciate having their government refund check cashed would not qualify for a bank account. Someone who did not qualify for a bank account would probably be better off using their refund money to pay on overdue loans and rent rather than a decade worth of batteries. It would therefore be more advantageous to them to pay the 2.5% fee for government checks at the check cashing place. Very interesting post. I was unaware that stores were doing this, but you must admit that this is a smart gimmick on their part.

Here is the main problem though. The average person who would appreciate having their government refund check cashed would not qualify for a bank account. Someone who did not qualify for a bank account would probably be better off using their refund money to pay on overdue loans and rent rather than a decade worth of batteries. It would therefore be more advantageous to them to pay the 2.5% fee for government checks at the check cashing place.

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