Now you will know
How not to make these invisible money mistakes
As a teen, I worked at a department store in Ridgewood, New Jersey called Sealfons. My primary responsibility was to the gift wrap department. I learned all of the tricks of the trade to do about 15 different very fancy gift wrap options no matter what size or shape of gift a customer wanted to be wrapped. It was a fun challenge. And by the way the clientele were always so sweet and appreciative (that’s code for I got a lot of tips!)
But when things were slow they would send me downstairs to the area where new merchandise arrived and I would help unload the clothing, shoes, and other items.
I was always fascinated by the price tags. They had a set price pre-printed on them. But sometimes they ALSO already had a sale price on them. And sometimes we would be told to cross out the original price and put a lower price on the tag even before the merchandise hit the sales floor. It was all about making the customer feel like they were getting a good deal. Sales 101- right?
All that is fine and par for the course when it comes to sales. We as consumers need to decide if the value is there for us, regardless of where the price started. It’s about the price we are going to pay.
And in the interests of full disclosure, I still have a hard time buying anything at “full price” so I am 100 percent the target of this marketing strategy. It works on me. I am just aware of it and I want all of us to be vigilant about that.
In my most recent spot on Cheddar, host Kristen Scholer asked me to share that and some other so-called invisible money mistakes. We touch on shopping as well as 401 (k)’s and travel.
Do you have any invisible money mistakes to share?
Speaking of marketing: there is a huge industry urging us to get ready to retire. But they may have to rethink their strategy.
Guess what? Many workers in their 60’s, 70’s, and even 80’s want to stay at work but just need a little nudge.
Fortunately, the feeling is mutual. More companies are taking steps to bring in and keep the senior set. I was asked to comment on the trend.
Here is a highlight of the piece by Yaël Bizouati-Kennedy in Go Banking Rates. Use the button below to read the entire piece with some great info that will likely surprise you!
On the podcast:
The buzz on Manisha's book is building. I just had to share this piece in New York Magazine. Enjoy!
What If You Already Have ‘Enough’ Money?
Want your employees to show up and give their best? We are your solution.
Hire my company Financial Wellness Strategies for a LIVE in-person or online employee program.
What makes our programs different?
We don’t “teach financial literacy”.
We share financial wellness skills and strategies to work through real everyday money stuff that stresses us out.
We do it in a community setting that takes away shame and embarrassment and supports empathy and realistic solutions.
We empower and motivate to take action.
That way everyone can all have a better workday.
Which leads to a better life for you and those you care about even when you are not at work.
Spotted in London!!!
Thanks so much to this week’s podcast guest, and my dear friend, Shanna Hocking for snapping this picture of my book “Launching Financial Grownups: Live your Richest Life by Helping Your (Almost) Adult Kids Be Everyday Money Smart” on the shelf at the Waterstones bookstore in London.
Please pick up a copy if you, or anyone you know and care about has kids heading to high school, college or their first “real” job so you can help “launch” a young adult and set the next generation up for success!
Please follow me on Instagram- and let me know you are part of the financial grownup community by DM-ing me so I can follow you back.
Thank you for reading. If you enjoyed it please share with family and friends. I truly appreciate your support and feedback.
You’re still the best gift wrapper!