As we rapidly approach the holiday season, it seemed to be a good time to bring up some of the retailers favorite tricks that are used to get you to spend more. Retailers are professionals at selling and they have spent millions in research to determine how to sell as much as possible. Here are a few tricks and techniques to watch out for this holiday season:
1. Limited-time-only bargains.
Regret is one of our most disliked feelings, and people naturally do what they can to avoid feeling regret. Marketers know this and use it to their advantage with limited-time offers and bargains. By making you feel that you have to act now or risk losing out on a great sale or product, retailers force you into a split second decision that often results in a purchase. Continue reading Retail Tricks To Watch Out For→
The term “sunk cost” basically means evaluating the cost of something going forward and whether what you already have or have already done will change in value if you have to make a financial change. It’s an interesting concept to know about and can be very helpful for both business and personal decisions. Let’s take a look at it.
a lot of sunk cost items here
Let’s say you have a business and it’s time to do upgrades in office supplies. You already have a lot of office furniture, and you’re thinking about buying newer items because they offer better efficiency. But you’re torn because your current furniture still looks pretty good, and in your mind you think you’d be wasting your money either buying something new or getting rid of something old that your mind still sees as valuable.
This might seem like a strange article coming from an accounting firm. Yet, it’s an important topic, more for those who should be doing it than for those who need to be taught the lessons.
Kids don’t understand money; goodness, many adults don’t understand money! Regarding kids, they know how much they can buy with whatever you give them, but they have no clue on how to save it, invest it, or budget it. Once again, that aligns them with many adults unfortunately. But since the idea is to try to make the next generation better, we should try to help them along. And if we as adults can learn some of these lessons, even better. Continue reading 5 Things You Should Teach Your Child About Money→
A major discussion these days is the cost of health care. Everyone from patients to politicians lament the cost of services charged to them by providers, hospitals, clinics… you name it, there’s a complaint.
Over the past 15 years, one of the biggest discussions revolves around something known as “price transparency”. This concerns the demand that hospitals and other medical providers should post their prices so patients can shop around for the best cost of services in their area. It’s believed that this would reform health care because it would hold hospitals and physicians accountable for keeping their prices lower. Continue reading Take Care Of Your Medical Costs Up Front→
We talk budgets all the time because things come up that we all suddenly need money for. Just last week one of our clients needed to pay for a quick airplane ticket and if he hadn’t had the extra $1,000 available, even if it left his account depleted, he’d have had some real problems.
Suffice it to say, most of us live paycheck to paycheck. If we budget at all, it’s to make sure we can pay the bills we currently have, buy food and maybe partake in a bit of entertainment. And yet danger is always lurking around the corner. Thus, these 4 things you probably need to think about: Continue reading 4 Important Things You Should Be Budgeting For→
Accounting & Financial Advice from the Syracuse NY area
