SavvySugar

Do You Feel Like the Economy Is Getting Better?

SavvySugar — Thu, 19 Nov 2009 06:00:15 -0800

Word on the street is that the worst of the recession is over. Federal Reserve Chairman Ben Bernanke declared as much in mid-September, and the economy actually grew instead of shrinking in the third quarter of this year. So, in theory, things should be on the upswing.

But firsthand experience tells us maybe not so much. Consumer spending is down over last year as we all try to keep our holiday spending in check, and there hasn’t been much new job creation.

In fact, I’m still hearing stories from friends, state employees in particular, who are experiencing layoffs, pay cuts, and involuntary furloughs. What has your personal experience been?

Your Two Cents: Is There Room in Your Holiday Budget For Charity?

SavvySugar — Thu, 12 Nov 2009 06:00:58 -0800

The holiday season isn't just about gift-giving - even while the budget may be stretched, it's also the time of year to give to charity. It's no secret that things are tight this year. The recession is changing the way we holiday shop, but is it also changing our philanthropic spirit of giving for a good cause?

Apparently so. Charitable foundations and organizations throughout the country are suffering from a lack of funds - the size of charitable giving just isn't sizable enough. Nonprofits, especially on the local level, are dealing with some serious cutbacks in their budgets, thanks to an economic climate that makes giving to a cause more of a luxury than it used to be. Where organizations used to rely on the generosity of philanthropic donors, they are now turning to the government for aid.

It's unfortunate, but while philanthropy is still a valued cause for giving, there are many who just may not be able to offer support this year. Of course, there are other ways to help out - volunteering, for one - but I'm curious: Is writing a check for charity out of the question this holiday season? Or are you still making room in your budget for a charitable donation?

Would You Barter to Get What You Want?

SavvySugar — Tue, 27 Oct 2009 12:00:36 -0700

Old-school savings are back in a big way. The recession has created a new generation of coupon clippers and deal hunters. But, it's not just about groceries and retail - even on big items, like home renovation. There's a trick to saving: try bartering.

I'll admit, the idea of bartering seemed a little beyond me - not just a retro throwback, but more like a nod to the real olden days. In actuality, bartering today is surprisingly sophisticated - and can get you a lot more than you might imagine. For instance, Camille Tominaro, whose vacation home needed a little renovation, used a little bartering innovation to get the job done. She posted her bartering proposal - a free vacation stay in her home, in exchange for the construction and improvements on the house - on Craigslist, and voila! Painters and carpenters responded to the add, did the work, and enjoyed their stay in the newly renovated house, as agreed upon.

Obviously, just as you would during a monetary transaction, be mindful of who you're trading with, look for references, and as a precaution, keep it local when you're trading services. So, what do you think? Would you try bartering as a saving solution?

Is Your Car's Brand a Part of Your Identity?

SavvySugar — Thu, 22 Oct 2009 06:00:48 -0700

Thanks to the recession, consumers are questioning their brand loyalty for just about everything. People who once faithfully bought one brand of paper towels or detergent are switching to lower-cost, generic versions to save money. These brand name concessions seem small, but what if the downturn coincided with your time to buy a new car - could you be faithful to your brand of choice?

Sure, when it comes down to it, a car is just a car - it gets you from point A to point B, and so, serves its purpose. Still, others would argue that, today, cars aren't just the things we drive - they become extensions and statements of who we are and what we believe. To a certain extent, some might view their car's brand with the same staunch loyalty with which they view their political party affiliation.

Still, over the course of the past year, this is all changing. Only about 20 percent of car shoppers stayed with the same brand when they purchased a new vehicle, whereas in the past, nearly four out of five American car shoppers were faithful to their car brand as repeat customers for years - or even across generations. So, tell me, how much does your car's brand matter to you?

7 Small Ways to Save Big When You Eat Out

SavvySugar — Fri, 16 Oct 2009 08:30:19 -0700

People are definitely eating differently thanks to the recession. But cutting food costs doesn't mean you still can't enjoy eating out. Tough times for consumers means empty tables at restaurants - and to fill them, restaurants are making menu changes and slashing prices, or offering discounts. Just take a look at how you can save on your next meal out.

View Slideshow ›

Study: Employers Think Recession Has Caused Fake Sick Days

SavvySugar — Mon, 12 Oct 2009 12:00:33 -0700

Is the recession making workers sick? All signs point to yes - at least where attendance records are concerned. CareerBuilder’s annual survey on absenteeism says one-third of workers have skipped work when they were feeling fine at least once this year. Twenty-eight percent of employers think more employees are absent with fake excuses due to increased stress and burnout due to the recession.

The nationwide survey suggests many employees are using sick days for mental health days, but more than one in 10 workers who played hooky admitted to calling in sick because of something work-related. Reasons include wanting to miss a meeting, give themselves some more time to work on a project, or avoid a boss, colleague, or client. To see some of the most unusual excuses employees gave for missing work, read more.

I got sunburned at a nude beach and can’t wear clothes.

I woke up in Canada.

I got caught selling an alligator.

My buddies locked me in the trunk of an abandoned car after a weekend of drinking.

My mom said I was not allowed to go to work today.

A bee flew in my mouth.

I’m just not into it today.

I accidentally hit a nun with my motorcycle.

A random person threw poison ivy in my face and now I have a rash.

I’m convinced my spouse is having an affair and I’m staying home to catch them.

I was injured chasing a seagull.

I have a headache from eating hot peppers.

Have you ever made up a wacky excuse to get out of work this year?

Are Hot Waitresses a Sign of Tough Economic Times?

SavvySugar — Mon, 12 Oct 2009 06:00:19 -0700

Economists love to find patterns among their data and analysis; some of them are easy to get behind, and others are kind of a reach. Hemlines are the most talked about economic indicator - typically, hemlines rise during tougher times. The Great Recession brought out a whole bunch of economists sharing alternate indicators like fraying elastic on men's underwear, the increase in long distance relationships, and even the Hot Waitress Index.

According to Time, the Hot Waitress Index follows the theory that an abundance of attractive waitresses in big cities are a sign of tougher economic times. It assumes that when things are looking up, these women have access to other opportunities like marketing, modeling, and hosting parties. Have you seen evidence of the index during the recession?

Source: Flickr User Loimere

Fantasy Gifts Get Made-Under

SavvySugar — Thu, 08 Oct 2009 12:00:57 -0700

So maybe you weren't actually going to purchase the $20 million submarine for sale in the Neiman Marcus Christmas catalog, but it doesn't hurt to look, right? Well, actually that may not be the case, anymore. In light of the recession, retailers are scaling back fantasy gifts traditionally offered around the holidays. Take a peek at the scaled-down luxury gifts of the season.

Photos courtesy of Neiman Marcus and Source

View Slideshow ›

YouTube Debtor's Revolt: Too Far or Totally Justified?

SavvySugar — Wed, 30 Sep 2009 09:00:33 -0700

In the wake of the recession, it's become increasingly common for credit card companies to jack up interest rates - in some cases, without due cause. Typically, outraged customers seek an explanation via customer service representative – but one disgruntled card holder took her case to YouTube

In the now viral video, aptly titled Debtor's Revolt Begins Now, B of A customer, Ann Minch launches a heated attack on the bank, claiming that her interest rate was raised from 12.99 percent to a whopping 30 percent, despite diligent and timely payments. Her attempts to negotiate with the branch, where she has been a customer for 14 years, were dismissed - until her now infamous rant gained some serious media attention, and was finally seen by one of the Bank's executives, who re-adjusted her interest to its original rate.

Since it debuted on Sept. 8, Minch's cyber assault has been streamed more than 350,000 times and attracted over 5,000 comments - some praising her as a crusader, others condemning the outspoken debtor. What do you think?

Unpaid Internship: Would You Work For Free?

SavvySugar — Tue, 29 Sep 2009 06:00:52 -0700

A typical workday means long hours and taking orders from a boss you may not always see eye to eye with. Still, at the end of the day, the promise of a paycheck makes it all worth the hustle. So, what happens when there is no payday?

In many of the most competitive industries - and especially in light of the recession - unpaid internships are becoming common practice. In London's fashion industry, hundreds of qualified fashion graduates end up working for free. These unpaid interns are largely responsible for the beautiful clothes turned out by some of the industry's top designers - contributing their ideas and man hours, with no hope of sharing in the company's profits. Regardless of legislation to guard against these practices, many companies take on full-time, unsalaried interns without contracts. While some argue this is just paying your dues - and standard practice in the fashion industry, where things can be pretty cut-throat - I can't help but sympathize with the unpaid workforce.

What's your take on the no-pay practice? Would you (or did you) work for free after obtaining your degree?